Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Debt to Equity since 2005
- Total Asset Turnover since 2005
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Cisco Systems Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-K (reporting date: 2026-07-25), 10-Q (reporting date: 2026-04-25), 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).
The capital structure exhibits a notable shift in the distribution of liabilities and equity over the analyzed period. For the first several years, total liabilities remained relatively stable, fluctuating between 54% and 60% of the total balance sheet. However, beginning in the second quarter of 2024, there is a distinct upward trend in the leverage ratio, with total liabilities increasing to a range of 61% to 63%, concurrently reducing total equity to between 36% and 39%.
- Debt Obligations and Liquidity
- A significant transformation in debt composition is observable. Short-term debt remained minimal, often falling below 3%, until early 2024. Starting January 27, 2024, short-term debt experienced a sharp increase, peaking at 10.02% in October 2024 before stabilizing between 4% and 9% in the subsequent periods. Similarly, long-term debt, excluding the current portion, showed a dramatic escalation from approximately 6.59% in January 2024 to a peak of 19.08% by January 2025, indicating a strategic shift toward increased borrowing.
- Current and Long-term Liabilities
- Current liabilities generally ranged from 24% to 33%. Deferred revenue remained the most consistent component of current liabilities, maintaining a stable presence between 11.8% and 14% throughout the entire timeframe, suggesting steady predictable revenue streams. In the long-term liability category, there was a marked decrease in long-term income taxes payable, which dropped from highs of 9.25% in 2020 to approximately 1.8% by 2026, coinciding with the rise in long-term debt.
- Equity and Retained Earnings
- Total equity saw a contraction from a peak of 45.77% in October 2023 to a lower baseline of approximately 38% in the final quarters. Common stock and additional paid-in capital followed a similar downward trend in terms of percentage of total assets. Retained earnings demonstrated a recovery phase, moving from a deficit of -2.90% in October 2020 to a positive peak of 2.73% in January 2024, before oscillating near the 1% mark. Accumulated other comprehensive loss remained consistently negative, though it showed some volatility between -0.23% and -2.28%.
- Overall Financial Positioning
- The balance sheet reflects a transition toward a more debt-heavy financing model starting in 2024. The simultaneous increase in both short-term and long-term debt, paired with the reduction in the proportion of equity and long-term tax liabilities, suggests a reconfiguration of the company's long-term funding strategy and a higher reliance on external credit instruments.