Common-Size Balance Sheet: Assets
Quarterly Data
Cisco Systems Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 10-K (reporting date: 2019-07-27), 10-Q (reporting date: 2019-04-27), 10-Q (reporting date: 2019-01-26), 10-Q (reporting date: 2018-10-27).
- Cash and Cash Equivalents
- Cash and cash equivalents as a percentage of total assets experienced some fluctuation over the periods analyzed. Starting at 7.98% in late 2018, it increased to a peak near 13.56% in early 2024, followed by a noticeable decline towards 6.81% by the second quarter of 2025. This indicates a variable liquidity position, with a general trend of increasing cash holdings until early 2024, and then a tapering off.
- Investments
- This component of total assets showed a consistent downward trend, beginning at 32.42% in late 2018 and declining steadily to 6.25% by mid-2025. The gradual reduction suggests a strategic decrease in investments relative to total assets, possibly reallocating resources or changing investment policy over time.
- Accounts Receivable, Net of Allowance
- Accounts receivable as a percentage of total assets fluctuated moderately, rising from 4.3% in late 2018 to peaks above 7% in mid-2022, then declining to around 4.41% by the second quarter of 2025. This pattern indicates varying credit sales performance and collection effectiveness, with periods of higher receivables followed by normalization.
- Inventories
- Inventories displayed a steady increase throughout the period, from 1.49% in late 2018 to approximately 3.58% in mid-2023. A slight decrease followed, with levels near 2.36% by mid-2025. This trend may reflect changes in inventory management, product demand, or supply chain dynamics, with a peak indicating buildup and subsequent reduction.
- Financing Receivables, Net
- Financing receivables exhibited a declining trend as a share of total assets, starting at 4.6% in late 2018 and falling to around 2.47% by mid-2025. The decrease was relatively steady, signaling less reliance on financing receivables or a shift in asset composition.
- Other Current Assets
- Other current assets increased from 2.02% at the start of the period to slightly above 5% by mid-2025, reflecting an accumulation or recognition of additional current assets contributing to overall liquidity and operational capacity.
- Current Assets
- Total current assets as a proportion of total assets declined notably from a high of 52.82% in late 2018 to about 27.4% by late 2024, with minor variations. The decrease suggests a strategic shift toward long-term asset holdings or reduced liquidity stance over time.
- Property and Equipment, Net
- This category showed a slow but steady decrease over the period, falling from 2.8% to around 1.73%. The decline indicates limited investment or possible asset disposals in property and equipment relative to total assets.
- Goodwill
- Goodwill demonstrated an increasing trend, rising from 31.67% in late 2018 to nearly 49.28% by mid-2025. This significant increase points to acquisitions or intangible asset recognition growing in importance within the company's asset base.
- Purchased Intangible Assets, Net
- Purchased intangible assets fluctuated, initially declining from 2.58% to 1.66% before sharply increasing to over 9% in early 2024 and then slightly decreasing thereafter. This pattern suggests changes in intangible asset capitalization related to acquisitions or valuation adjustments.
- Deferred Tax Assets
- Deferred tax assets steadily increased from 3.76% to about 5.86% by mid-2025, indicating growing recognition of deferred tax benefits likely associated with timing differences in income and expenses or tax planning strategies.
- Other Assets
- Other assets rose from 1.97% to a peak near 6.35%, then stabilized around 5% in the latter periods. This increase suggests growth in miscellaneous asset categories contributing to non-current asset diversification.
- Long-term Assets
- The proportion of long-term assets grew steadily from 47.18% to approximately 72.6% of total assets by the end of the period. This shift reflects a strategic reallocation favoring long-term investments and intangible assets over current assets.
- Overall Asset Composition
- Throughout the analyzed periods, there was a decisive movement away from current assets and investments toward intangible and long-term assets, especially goodwill. This trend highlights a strategic focus on acquisitions and intangible asset growth, possibly indicative of a transition toward a more asset-light or technology-driven business model.