Stock Analysis on Net
Stock Analysis on Net

Cisco Systems Inc. (NASDAQ:CSCO)

Common-Size Balance Sheet: Assets 
Quarterly Data

Cisco Systems Inc., common-size consolidated balance sheet: assets (quarterly data)

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Jan 24, 2026 Oct 25, 2025 Jul 26, 2025 Apr 26, 2025 Jan 25, 2025 Oct 26, 2024 Jul 27, 2024 Apr 27, 2024 Jan 27, 2024 Oct 28, 2023 Jul 29, 2023 Apr 29, 2023 Jan 28, 2023 Oct 29, 2022 Jul 30, 2022 Apr 30, 2022 Jan 29, 2022 Oct 30, 2021 Jul 31, 2021 May 1, 2021 Jan 23, 2021 Oct 24, 2020 Jul 25, 2020 Apr 25, 2020 Jan 25, 2020 Oct 26, 2019
Cash and cash equivalents 6.05 6.94 6.82 6.81 7.05 7.35 6.03 7.25 13.56 9.72 9.94 8.25 9.40 7.84 7.53 7.49 7.14 7.94 9.41 7.83 12.34 11.39 12.45 11.34 9.37 9.28
Investments 6.74 6.06 6.35 6.25 6.84 7.79 8.32 8.01 11.82 14.09 15.73 15.63 13.62 13.42 12.97 14.18 15.26 16.39 15.74 17.28 19.66 20.20 18.57 19.92 20.55 21.03
Accounts receivable, net of allowance 5.35 3.99 5.48 4.41 4.67 3.61 5.37 4.17 4.83 4.89 5.75 5.23 5.46 5.84 7.04 6.23 6.37 5.53 5.91 4.71 4.51 4.19 5.77 5.00 4.79 5.27
Inventories 3.18 2.80 2.59 2.36 2.41 2.55 2.71 2.54 3.17 3.38 3.58 3.56 3.28 2.86 2.73 2.40 2.18 1.91 1.60 1.68 1.50 1.37 1.35 1.33 1.50 1.45
Financing receivables, net 2.39 2.55 2.50 2.47 2.53 2.53 2.68 2.80 3.44 3.46 3.29 3.49 3.71 3.96 4.15 4.10 4.24 4.24 4.49 4.95 5.26 5.37 5.33 5.15 5.34 5.43
Other current assets 4.77 4.82 4.87 5.10 5.07 5.16 4.51 4.41 4.83 4.60 4.27 4.80 4.72 4.91 4.63 4.37 3.85 3.16 2.96 3.01 2.67 2.73 2.48 2.46 2.74 2.63
Current assets 28.48% 27.15% 28.61% 27.40% 28.57% 28.99% 29.63% 29.18% 41.64% 40.15% 42.56% 40.96% 40.19% 38.84% 39.06% 38.77% 39.04% 39.16% 40.12% 39.47% 45.93% 45.25% 45.94% 45.20% 44.29% 45.10%
Property and equipment, net 1.91 1.86 1.73 1.73 1.64 1.69 1.68 1.63 1.98 2.03 2.05 2.10 2.05 2.12 2.12 2.20 2.27 2.33 2.40 2.52 2.50 2.54 2.59 2.77 2.90 2.89
Financing receivables, net 3.00 3.07 2.83 2.71 2.67 2.77 2.71 2.64 3.32 3.36 3.42 3.48 3.71 3.89 4.26 4.27 4.27 4.74 5.01 5.40 5.33 5.81 6.02 5.22 5.26 5.22
Goodwill 48.01 48.82 48.36 49.28 48.38 47.65 47.15 47.67 38.63 39.38 37.83 39.34 40.05 41.01 40.75 41.44 41.03 40.43 39.15 40.14 36.33 36.35 35.64 36.60 37.17 36.30
Purchased intangible assets, net 6.73 7.19 7.50 8.05 8.35 8.71 9.02 9.61 1.66 1.94 1.78 2.02 2.23 2.54 2.73 3.03 3.27 3.49 3.71 3.96 1.53 1.66 1.66 1.91 2.11 2.28
Deferred tax assets 6.00 6.04 6.02 5.86 5.43 5.28 5.03 4.49 7.25 7.19 6.46 5.96 5.55 5.26 4.73 4.61 4.53 4.37 4.47 4.33 4.30 4.36 4.21 4.28 4.31 4.28
Other assets 5.88 5.87 4.95 4.98 4.95 4.91 4.78 4.78 5.51 5.95 5.90 6.14 6.22 6.35 6.34 5.68 5.59 5.48 5.14 4.18 4.08 4.03 3.94 4.02 3.96 3.92
Long-term assets 71.52% 72.85% 71.39% 72.60% 71.43% 71.01% 70.37% 70.82% 58.36% 59.85% 57.44% 59.04% 59.81% 61.16% 60.94% 61.23% 60.96% 60.84% 59.88% 60.53% 54.07% 54.75% 54.06% 54.80% 55.71% 54.90%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-01-24), 10-Q (reporting date: 2025-10-25), 10-K (reporting date: 2025-07-26), 10-Q (reporting date: 2025-04-26), 10-Q (reporting date: 2025-01-25), 10-Q (reporting date: 2024-10-26), 10-K (reporting date: 2024-07-27), 10-Q (reporting date: 2024-04-27), 10-Q (reporting date: 2024-01-27), 10-Q (reporting date: 2023-10-28), 10-K (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-Q (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-K (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-K (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-Q (reporting date: 2021-01-23), 10-Q (reporting date: 2020-10-24), 10-K (reporting date: 2020-07-25), 10-Q (reporting date: 2020-04-25), 10-Q (reporting date: 2020-01-25), 10-Q (reporting date: 2019-10-26).

The composition of assets at the company exhibits several notable shifts over the observed period from October 2019 to January 2026. A significant portion of assets consistently resides in goodwill and investments, while current assets represent a substantial, though fluctuating, component. The analysis below details trends within specific asset categories.

Cash and Cash Equivalents
The proportion of assets held as cash and cash equivalents demonstrates considerable volatility. Initially around 9-10% of total assets, it peaked in July 2020 at 12.45% before declining to a low of 6.03% in January 2025. A subsequent increase is observed, reaching 7.05% in January 2026. This suggests active cash management, potentially linked to investment activities or operational needs.
Investments
Investments consistently represent a significant portion of total assets, generally ranging between 15% and 21%. A gradual downward trend is apparent from October 2019 (21.03%) to January 2025 (8.01%). This decline accelerates in the latter part of the period, continuing to 6.03% in January 2026. This suggests a strategic shift away from holding investments, potentially towards other asset allocations or debt reduction.
Accounts Receivable
Accounts receivable as a percentage of total assets generally fluctuates between 4% and 7%. An increasing trend is observed from January 2020 through April 2022, peaking at 7.04%. Following this, the proportion decreases, reaching a low of 3.61% in January 2025, before a slight recovery to 4.67% in January 2026. This pattern may reflect changes in sales terms or collection efficiency.
Inventories
Inventories exhibit a consistent upward trend throughout the period, increasing from 1.45% to 3.18% of total assets. This suggests a potential build-up of inventory, which could be due to increased production, anticipated demand, or supply chain considerations. The increase is particularly noticeable from October 2022 onwards.
Goodwill
Goodwill consistently constitutes the largest single asset category, typically ranging between 35% and 41% of total assets. While relatively stable, a slight decline is observed from 37.17% in January 2020 to 39.38% in October 2023, followed by a more pronounced decrease to 47.67% in January 2026. This decrease could indicate impairment charges or strategic divestitures.
Purchased Intangible Assets
The proportion of purchased intangible assets decreases significantly over the period, falling from 2.28% in October 2019 to 6.73% in January 2026. This decline suggests amortization or potential write-downs of these assets.
Deferred Tax Assets
Deferred tax assets show a general increasing trend, rising from 4.28% to 6.00% over the observed timeframe. This increase may be attributable to changes in tax regulations or the company’s tax position.
Current vs. Long-Term Assets
Current assets initially represent approximately 44-46% of total assets, but decrease significantly towards the end of the period, falling to 28.48% in January 2026. Conversely, long-term assets increase from around 54-56% to 71.52% in January 2026. This shift indicates a move towards a more long-term asset base, potentially reflecting strategic investments in property, plant, and equipment, or a reduction in short-term liquidity.

Overall, the asset composition demonstrates a dynamic shift over the period. The company appears to be reducing its holdings of cash, investments, and intangible assets, while increasing its proportion of inventories, deferred tax assets, and long-term assets. The significant decline in goodwill towards the end of the period warrants further investigation.