Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Operating Profit (P/OP) since 2005
- Aggregate Accruals
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Cisco Systems Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (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).
The analysis of the quarterly financial data reveals several notable trends in the composition of liabilities and equity over the observed periods.
- Current Liabilities
- The proportion of current liabilities relative to total liabilities and equity fluctuates but generally remains between approximately 25% and 33%. There is a visible increase during some quarters in the middle of the timeframe, peaking near 32.6%, followed by a stabilization around this level towards the later periods.
- Short-term Debt
- Short-term debt exhibits volatility with sporadic spikes; after an initial high of 10.42%, it declines sharply and remains low (around 1% to 2%) for an extended period. However, towards the most recent quarters, a substantial increase is evident, nearing levels above 9%, indicating an increased reliance on short-term borrowing.
- Accounts Payable
- This component remains relatively stable, fluctuating narrowly mostly between 1.5% and 2.6%, with no clear upward or downward trend, suggesting consistent management of payables relative to the company's size.
- Income Taxes Payable
- Short-term income taxes payable show a marked increase starting around early 2023, rising from below 1% to over 4% of total liabilities and equity, which could indicate higher tax obligations or timing differences in tax payments. Conversely, long-term income taxes payable demonstrate a continual decrease over time, dropping from a peak of near 9.6% towards approximately 1.5%, signifying possible settlements or reclassification of tax liabilities.
- Accrued Compensation
- This liability remains relatively stable, mostly between 2.3% and just under 4%, with minor fluctuations that do not suggest major changes in compensation accrual policies.
- Deferred Revenue
- Both current and long-term deferred revenue have shown gradual increases over the observed periods. Current deferred revenue rises steadily from around 9% to over 13%, while long-term deferred revenue increases from approximately 6.8% to near 11%. These trends imply growing prepayments from customers, reflecting either expansion in subscription or service agreements.
- Other Current and Long-term Liabilities
- Other current liabilities maintain a range generally between 3.9% and 5.5%, displaying slight variations but no clear directional trend. Other long-term liabilities fluctuate narrowly around 2%, indicating stable levels of miscellaneous long-term obligations.
- Long-term Debt (Excluding Current Portion)
- Long-term debt shares a downward trend for the majority of the timeframe, declining from approximately 17.4% to as low as 6.5%. Nevertheless, in the latest quarters, a notable surge occurs, returning to levels around 19%, suggesting increased long-term borrowing or refinancing activity.
- Total Liabilities
- The total liabilities percentage exhibits a modest downward shift from just above 65% to roughly 55% by 2021, followed by gradual recovery to over 63% in some quarters. This fluctuation reflects shifts in both current and long-term liabilities composition over time.
- Total Equity
- Total equity as a percentage of total liabilities and equity generally trends inversely with total liabilities. It decreases from near 41.6% to a low of approximately 34.3% before rising again to highs above 45%. However, in the latest quarters, there is a significant reduction to around 36-38%, correlating with increases in both short-term and long-term debt components.
- Common Stock and Additional Paid-in Capital
- This component consistently constitutes a major share of equity, fluctuating mostly between 38% and 46%. The substantial dip in the later quarters (to below 37%) aligns with the reduced total equity proportion, reflecting changes in shares outstanding or capital transactions.
- Retained Earnings (Accumulated Deficit)
- Retained earnings demonstrate considerable volatility, initially in negative territory indicating accumulated deficits. Over time, this shifts to positive values, peaking just above 2.7%, before declining again towards near zero percent in recent quarters, suggesting fluctuations in profitability or dividend policies impacting accumulated earnings.
- Accumulated Other Comprehensive Loss
- This line item remains negative throughout, indicating ongoing comprehensive losses. Although it fluctuates, the losses enlarge somewhat mid-period and then marginally recede but remain between -0.9% and -2.3%, reflecting sustained unfavorable changes in items excluded from net income.
In summary, the data reflect a capital structure marked by substantial fluctuations in short-term and long-term debt components, a gradual increase in deferred revenues, and dynamic movements in equity components influenced by changes in retained earnings and stockholder contributions. The overall trends suggest periods of increased borrowing and evolving operational liabilities, coupled with adjustments in equity possibly driven by earnings performance or capital market activities.