Adjusted Financial Ratios (Summary)
Adjusted Total Asset Turnover
Adjusted Current Ratio
Adjusted Debt to Equity
Adjusted Debt to Capital
Adjusted Financial Leverage
Adjusted Net Profit Margin
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

Cisco Systems Inc., adjusted financial ratios

	Jul 27, 2024	Jul 29, 2023	Jul 30, 2022	Jul 31, 2021	Jul 25, 2020	Jul 27, 2019
Activity Ratio
Total Asset Turnover
Reported	0.43	0.56	0.55	0.51	0.52	0.53
Adjusted	0.48	0.62	0.59	0.55	0.56	0.53
Liquidity Ratio
Current Ratio
Reported	0.91	1.38	1.43	1.49	1.72	1.51
Adjusted	1.52	2.50	2.86	2.78	3.14	2.28
Solvency Ratios
Debt to Equity
Reported	0.68	0.19	0.24	0.28	0.38	0.73
Adjusted	0.47	0.15	0.18	0.21	0.28	0.53
Debt to Capital
Reported	0.41	0.16	0.19	0.22	0.28	0.42
Adjusted	0.32	0.13	0.15	0.18	0.22	0.35
Financial Leverage
Reported	2.74	2.30	2.36	2.36	2.50	2.91
Adjusted	1.73	1.49	1.52	1.56	1.65	1.95
Profitability Ratios
Net Profit Margin
Reported	19.18%	22.13%	22.91%	21.26%	22.75%	22.39%
Adjusted	22.06%	22.04%	21.54%	23.21%	26.26%	20.18%
Return on Equity (ROE)
Reported	22.70%	28.44%	29.70%	25.66%	29.57%	34.62%
Adjusted	18.28%	20.41%	19.20%	20.04%	24.48%	21.05%
Return on Assets (ROA)
Reported	8.29%	12.38%	12.57%	10.86%	11.82%	11.88%
Adjusted	10.58%	13.70%	12.66%	12.83%	14.79%	10.77%

Based on: 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27).

Financial ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Cisco Systems Inc. adjusted total asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	Cisco Systems Inc. adjusted current ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	Cisco Systems Inc. adjusted debt-to-equity ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	Cisco Systems Inc. adjusted debt-to-capital ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Cisco Systems Inc. adjusted financial leverage ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Cisco Systems Inc. adjusted net profit margin ratio improved from 2022 to 2023 and from 2023 to 2024.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	Cisco Systems Inc. adjusted ROE improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Cisco Systems Inc. adjusted ROA improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Cisco Systems Inc., Financial Ratios: Reported vs. Adjusted

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	Jul 27, 2024	Jul 29, 2023	Jul 30, 2022	Jul 31, 2021	Jul 25, 2020	Jul 27, 2019
Reported
Selected Financial Data (US$ in millions)
Revenue	53,803)	56,998)	51,557)	49,818)	49,301)	51,904)
Total assets	124,413)	101,852)	94,002)	97,497)	94,853)	97,793)
Activity Ratio
Total asset turnover¹	0.43	0.56	0.55	0.51	0.52	0.53
Adjusted
Selected Financial Data (US$ in millions)
Adjusted revenue²	56,728)	59,284)	52,657)	51,536)	51,280)	50,686)
Adjusted total assets³	118,238)	95,361)	89,636)	93,246)	91,006)	94,959)
Activity Ratio
Adjusted total asset turnover⁴	0.48	0.62	0.59	0.55	0.56	0.53

Based on: 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27).

¹ 2024 Calculation
Total asset turnover = Revenue ÷ Total assets
= 53,803 ÷ 124,413 = 0.43

² Adjusted revenue. See details »

³ Adjusted total assets. See details »

⁴ 2024 Calculation
Adjusted total asset turnover = Adjusted revenue ÷ Adjusted total assets
= 56,728 ÷ 118,238 = 0.48

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Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Cisco Systems Inc. adjusted total asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

	Jul 27, 2024	Jul 29, 2023	Jul 30, 2022	Jul 31, 2021	Jul 25, 2020	Jul 27, 2019
Reported
Selected Financial Data (US$ in millions)
Current assets	36,862)	43,348)	36,717)	39,112)	43,573)	47,755)
Current liabilities	40,584)	31,309)	25,640)	26,257)	25,331)	31,712)
Liquidity Ratio
Current ratio¹	0.91	1.38	1.43	1.49	1.72	1.51
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets²	36,949)	43,433)	36,800)	39,221)	43,716)	47,891)
Adjusted current liabilities³	24,335)	17,401)	12,856)	14,109)	13,925)	21,044)
Liquidity Ratio
Adjusted current ratio⁴	1.52	2.50	2.86	2.78	3.14	2.28

Based on: 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27).

¹ 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 36,862 ÷ 40,584 = 0.91

² Adjusted current assets. See details »

³ Adjusted current liabilities. See details »

⁴ 2024 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= 36,949 ÷ 24,335 = 1.52

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Liquidity ratio	Description	The company
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	Cisco Systems Inc. adjusted current ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

	Jul 27, 2024	Jul 29, 2023	Jul 30, 2022	Jul 31, 2021	Jul 25, 2020	Jul 27, 2019
Reported
Selected Financial Data (US$ in millions)
Total debt	30,962)	8,391)	9,515)	11,526)	14,583)	24,666)
Equity	45,457)	44,353)	39,773)	41,275)	37,920)	33,571)
Solvency Ratio
Debt to equity¹	0.68	0.19	0.24	0.28	0.38	0.73
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt²	32,232)	9,411)	10,561)	12,694)	15,585)	25,761)
Adjusted equity³	68,469)	64,016)	59,068)	59,692)	55,004)	48,579)
Solvency Ratio
Adjusted debt to equity⁴	0.47	0.15	0.18	0.21	0.28	0.53

Based on: 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27).

¹ 2024 Calculation
Debt to equity = Total debt ÷ Equity
= 30,962 ÷ 45,457 = 0.68

² Adjusted total debt. See details »

³ Adjusted equity. See details »

⁴ 2024 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted equity
= 32,232 ÷ 68,469 = 0.47

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Solvency ratio	Description	The company
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	Cisco Systems Inc. adjusted debt-to-equity ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

	Jul 27, 2024	Jul 29, 2023	Jul 30, 2022	Jul 31, 2021	Jul 25, 2020	Jul 27, 2019
Reported
Selected Financial Data (US$ in millions)
Total debt	30,962)	8,391)	9,515)	11,526)	14,583)	24,666)
Total capital	76,419)	52,744)	49,288)	52,801)	52,503)	58,237)
Solvency Ratio
Debt to capital¹	0.41	0.16	0.19	0.22	0.28	0.42
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt²	32,232)	9,411)	10,561)	12,694)	15,585)	25,761)
Adjusted total capital³	100,701)	73,427)	69,629)	72,386)	70,589)	74,340)
Solvency Ratio
Adjusted debt to capital⁴	0.32	0.13	0.15	0.18	0.22	0.35

Based on: 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27).

¹ 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 30,962 ÷ 76,419 = 0.41

² Adjusted total debt. See details »

³ Adjusted total capital. See details »

⁴ 2024 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 32,232 ÷ 100,701 = 0.32

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Solvency ratio	Description	The company
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	Cisco Systems Inc. adjusted debt-to-capital ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

	Jul 27, 2024	Jul 29, 2023	Jul 30, 2022	Jul 31, 2021	Jul 25, 2020	Jul 27, 2019
Reported
Selected Financial Data (US$ in millions)
Total assets	124,413)	101,852)	94,002)	97,497)	94,853)	97,793)
Equity	45,457)	44,353)	39,773)	41,275)	37,920)	33,571)
Solvency Ratio
Financial leverage¹	2.74	2.30	2.36	2.36	2.50	2.91
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets²	118,238)	95,361)	89,636)	93,246)	91,006)	94,959)
Adjusted equity³	68,469)	64,016)	59,068)	59,692)	55,004)	48,579)
Solvency Ratio
Adjusted financial leverage⁴	1.73	1.49	1.52	1.56	1.65	1.95

Based on: 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27).

¹ 2024 Calculation
Financial leverage = Total assets ÷ Equity
= 124,413 ÷ 45,457 = 2.74

² Adjusted total assets. See details »

³ Adjusted equity. See details »

⁴ 2024 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted equity
= 118,238 ÷ 68,469 = 1.73

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Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Cisco Systems Inc. adjusted financial leverage ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

	Jul 27, 2024	Jul 29, 2023	Jul 30, 2022	Jul 31, 2021	Jul 25, 2020	Jul 27, 2019
Reported
Selected Financial Data (US$ in millions)
Net income	10,320)	12,613)	11,812)	10,591)	11,214)	11,621)
Revenue	53,803)	56,998)	51,557)	49,818)	49,301)	51,904)
Profitability Ratio
Net profit margin¹	19.18%	22.13%	22.91%	21.26%	22.75%	22.39%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income²	12,514)	13,064)	11,344)	11,960)	13,464)	10,228)
Adjusted revenue³	56,728)	59,284)	52,657)	51,536)	51,280)	50,686)
Profitability Ratio
Adjusted net profit margin⁴	22.06%	22.04%	21.54%	23.21%	26.26%	20.18%

Based on: 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27).

¹ 2024 Calculation
Net profit margin = 100 × Net income ÷ Revenue
= 100 × 10,320 ÷ 53,803 = 19.18%

² Adjusted net income. See details »

³ Adjusted revenue. See details »

⁴ 2024 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Adjusted revenue
= 100 × 12,514 ÷ 56,728 = 22.06%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Cisco Systems Inc. adjusted net profit margin ratio improved from 2022 to 2023 and from 2023 to 2024.

	Jul 27, 2024	Jul 29, 2023	Jul 30, 2022	Jul 31, 2021	Jul 25, 2020	Jul 27, 2019
Reported
Selected Financial Data (US$ in millions)
Net income	10,320)	12,613)	11,812)	10,591)	11,214)	11,621)
Equity	45,457)	44,353)	39,773)	41,275)	37,920)	33,571)
Profitability Ratio
ROE¹	22.70%	28.44%	29.70%	25.66%	29.57%	34.62%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income²	12,514)	13,064)	11,344)	11,960)	13,464)	10,228)
Adjusted equity³	68,469)	64,016)	59,068)	59,692)	55,004)	48,579)
Profitability Ratio
Adjusted ROE⁴	18.28%	20.41%	19.20%	20.04%	24.48%	21.05%

Based on: 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27).

¹ 2024 Calculation
ROE = 100 × Net income ÷ Equity
= 100 × 10,320 ÷ 45,457 = 22.70%

² Adjusted net income. See details »

³ Adjusted equity. See details »

⁴ 2024 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted equity
= 100 × 12,514 ÷ 68,469 = 18.28%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	Cisco Systems Inc. adjusted ROE improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

	Jul 27, 2024	Jul 29, 2023	Jul 30, 2022	Jul 31, 2021	Jul 25, 2020	Jul 27, 2019
Reported
Selected Financial Data (US$ in millions)
Net income	10,320)	12,613)	11,812)	10,591)	11,214)	11,621)
Total assets	124,413)	101,852)	94,002)	97,497)	94,853)	97,793)
Profitability Ratio
ROA¹	8.29%	12.38%	12.57%	10.86%	11.82%	11.88%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income²	12,514)	13,064)	11,344)	11,960)	13,464)	10,228)
Adjusted total assets³	118,238)	95,361)	89,636)	93,246)	91,006)	94,959)
Profitability Ratio
Adjusted ROA⁴	10.58%	13.70%	12.66%	12.83%	14.79%	10.77%

Based on: 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27).

¹ 2024 Calculation
ROA = 100 × Net income ÷ Total assets
= 100 × 10,320 ÷ 124,413 = 8.29%

² Adjusted net income. See details »

³ Adjusted total assets. See details »

⁴ 2024 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × 12,514 ÷ 118,238 = 10.58%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Cisco Systems Inc. adjusted ROA improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Cisco Systems Inc. (NASDAQ:CSCO)

Adjusted Financial Ratios

Adjusted Financial Ratios (Summary)

Cisco Systems Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Adjusted Current Ratio

Adjusted Debt to Equity

Adjusted Debt to Capital

Adjusted Financial Leverage

Adjusted Net Profit Margin

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)