Stock Analysis on Net
Stock Analysis on Net

Cisco Systems Inc. (NASDAQ:CSCO)

Common-Size Balance Sheet: Assets 

Cisco Systems Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Jul 27, 2024 Jul 29, 2023 Jul 30, 2022 Jul 31, 2021 Jul 25, 2020 Jul 27, 2019
Cash and cash equivalents 6.03 9.94 7.53 9.41 12.45 12.02
Investments 8.32 15.73 12.97 15.74 18.57 22.15
Accounts receivable, net of allowance 5.37 5.75 7.04 5.91 5.77 5.61
Inventories 2.71 3.58 2.73 1.60 1.35 1.41
Financing receivables, net 2.68 3.29 4.15 4.49 5.33 5.21
Other current assets 4.51 4.27 4.63 2.96 2.48 2.43
Current assets 29.63% 42.56% 39.06% 40.12% 45.94% 48.83%
Property and equipment, net 1.68 2.05 2.12 2.40 2.59 2.85
Financing receivables, net 2.71 3.42 4.26 5.01 6.02 5.07
Goodwill 47.15 37.83 40.75 39.15 35.64 34.29
Purchased intangible assets, net 9.02 1.78 2.73 3.71 1.66 2.25
Deferred tax assets 5.03 6.46 4.73 4.47 4.21 4.16
Other assets 4.78 5.90 6.34 5.14 3.94 2.55
Long-term assets 70.37% 57.44% 60.94% 59.88% 54.06% 51.17%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

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).

Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets shows a general declining trend from 12.02% in 2019 to 6.03% in 2024, with a slight increase in 2023. This indicates a gradual reduction in liquid assets over the observed period.
Investments
Investments as a percentage of total assets decreased from 22.15% in 2019 to 8.32% in 2024, with fluctuations including a slight rebound in 2023. The overall trend reflects a significant decline in investment holdings.
Accounts Receivable, Net of Allowance
The share of accounts receivable relative to total assets remained relatively stable, fluctuating modestly between 5.37% and 7.04%, peaking in 2022. This suggests consistent management of receivables without large variations in credit exposure.
Inventories
Inventory levels increased over the period, rising from 1.41% in 2019 to a peak of 3.58% in 2023, before slightly declining to 2.71% in 2024. This indicates a buildup in inventory levels, possibly reflecting changes in production or supply chain dynamics.
Financing Receivables, Net
Financing receivables decreased from 5.21% in 2019 to 2.68% in 2024, showing a steady reduction in financing assets over time, which could imply a strategic shift away from financing activities.
Other Current Assets
Other current assets increased from 2.43% in 2019 to a peak of 4.63% in 2022, then remained elevated, ending at 4.51% in 2024. This trend indicates growing significance of miscellaneous current asset items.
Current Assets
The total current assets as a percentage of total assets declined from 48.83% in 2019 to 29.63% in 2024, reflecting a substantial contraction in the current asset base relative to total assets over the period.
Property and Equipment, Net
There is a gradual decline in property and equipment assets from 2.85% in 2019 to 1.68% in 2024, suggesting lower capital expenditures or increased depreciation impact.
Goodwill
Goodwill showed a marked increase from 34.29% in 2019 to 47.15% in 2024, with notable jumps in certain years. This indicates significant business acquisitions or revaluations contributing to intangible asset growth.
Purchased Intangible Assets, Net
Purchased intangible assets experienced fluctuations, declining initially, then sharply increasing to 9.02% in 2024. The surge in 2024 suggests recent acquisitions or changes in asset classification related to intangible assets.
Deferred Tax Assets
Deferred tax assets grew moderately from 4.16% in 2019 to a peak of 6.46% in 2023 before declining to 5.03% in 2024, reflecting changing tax positions and timing differences in income recognition.
Other Assets
Other assets increased steadily from 2.55% in 2019 to 6.34% in 2022, followed by a decline to 4.78% in 2024, indicating variability in miscellaneous long-term asset components.
Long-term Assets
Long-term assets as a percentage of total assets rose consistently from 51.17% in 2019 to 70.37% in 2024, highlighting a strategic shift towards a larger intangible and long-term asset base relative to current assets.