Analysis of Debt
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- Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Current Ratio since 2005
- Analysis of Revenues
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Total Debt (Carrying Amount)
Cisco Systems Inc., balance sheet: debt
US$ in millions
| Jul 25, 2026 | Jul 26, 2025 | Jul 27, 2024 | Jul 29, 2023 | Jul 30, 2022 | Jul 31, 2021 | ||
|---|---|---|---|---|---|---|---|
| Short-term debt | |||||||
| Long-term debt, excluding current portion | |||||||
| Total debt (carrying amount) |
Based on: 10-K (reporting date: 2026-07-25), 10-K (reporting date: 2025-07-26), 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).
The total debt carrying amount exhibited a period of steady decline between 2021 and 2023, followed by a substantial increase starting in 2024, after which obligations stabilized at a significantly higher valuation.
- Total Debt Trajectory
- Between July 2021 and July 2023, total debt decreased from US$ 11,526 million to US$ 8,391 million, indicating a phase of deleveraging. This trend reversed sharply in July 2024, as total debt surged to US$ 30,962 million. In the subsequent periods ending in 2025 and 2026, the balance remained elevated, concluding at US$ 29,533 million.
- Long-term Debt Composition
- Long-term debt, excluding the current portion, mirrored the broader trend, declining from US$ 9,018 million in 2021 to a low of US$ 6,658 million in 2023. A significant increase was observed in 2024, with the balance rising to US$ 19,621 million. This figure peaked in 2025 at US$ 22,861 million before moderating to US$ 19,372 million by July 2026.
- Short-term Debt Volatility
- Short-term obligations demonstrated high volatility. After decreasing to US$ 1,099 million in 2022, short-term debt experienced a massive spike to US$ 11,341 million in 2024. This was followed by a reduction to US$ 5,232 million in 2025 and a subsequent increase to US$ 10,161 million in 2026, suggesting a shift toward more frequent or larger short-term financing activities in the latter part of the period.
Total Debt (Fair Value)
| Jul 25, 2026 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Commercial paper | |
| Senior notes | |
| Other long-term debt | |
| Total debt (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2026-07-25).
Weighted-average Interest Rate on Debt
Weighted-average effective rate on debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2026-07-25).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =