Stock Analysis on Net
Stock Analysis on Net

Cisco Systems Inc. (NASDAQ:CSCO)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

Cisco Systems Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Jul 25, 2026 Apr 25, 2026 Jan 24, 2026 Oct 25, 2025 Jul 26, 2025 Apr 26, 2025 Jan 25, 2025 Oct 26, 2024 Jul 27, 2024 Apr 27, 2024 Jan 27, 2024 Oct 28, 2023 Jul 29, 2023 Apr 29, 2023 Jan 28, 2023 Oct 29, 2022 Jul 30, 2022 Apr 30, 2022 Jan 29, 2022 Oct 30, 2021 Jul 31, 2021 May 1, 2021 Jan 23, 2021 Oct 24, 2020
Short-term debt 7.84 9.50 7.07 5.55 4.28 5.36 9.40 10.02 9.12 9.67 4.88 1.00 1.70 1.77 1.30 1.34 1.17 1.08 2.65 0.53 2.57 2.13 5.23 5.27
Accounts payable 2.60 2.37 2.24 2.00 2.07 1.89 1.57 1.62 1.85 1.67 1.83 2.11 2.27 2.50 2.43 2.49 2.43 2.47 2.23 2.36 2.42 2.60 1.95 2.41
Income taxes payable 0.15 0.14 0.16 2.04 1.52 1.52 1.55 1.70 1.16 1.52 1.85 2.41 4.16 3.21 2.30 0.96 1.02 0.92 0.89 0.85 0.82 0.80 0.80 0.85
Accrued compensation 3.13 2.62 2.83 2.53 2.95 2.68 2.72 2.32 2.90 2.61 3.18 3.08 3.91 3.44 3.33 3.12 3.53 3.27 3.57 3.37 3.92 3.54 3.45 3.13
Deferred revenue 13.10 13.10 13.13 13.05 13.42 13.43 13.18 12.66 13.06 12.81 13.85 13.98 13.66 13.58 13.68 13.52 13.60 13.20 13.01 12.52 12.46 12.24 12.08 11.86
Other current liabilities 5.22 3.77 4.39 4.11 4.43 3.92 4.55 4.55 4.54 4.34 4.91 4.79 5.04 4.93 5.40 5.33 5.53 5.09 5.14 4.59 4.74 4.53 5.01 4.88
Current liabilities 32.03% 31.50% 29.82% 29.27% 28.67% 28.80% 32.97% 32.87% 32.62% 32.61% 30.49% 27.37% 30.74% 29.45% 28.43% 26.75% 27.28% 26.02% 27.49% 24.21% 26.93% 25.84% 28.52% 28.41%
Long-term debt, excluding current portion 14.94 15.43 17.32 17.64 18.69 19.08 16.17 15.91 15.77 16.34 6.59 6.74 6.54 6.83 7.97 8.20 8.95 9.07 9.51 9.37 9.25 10.15 9.99 10.07
Income taxes payable 1.80 1.84 1.72 1.79 1.77 1.56 1.45 2.73 3.20 2.33 3.35 5.86 5.65 6.90 6.90 8.42 8.22 8.29 8.09 8.91 8.76 8.78 8.46 9.25
Deferred revenue 9.87 9.68 9.89 10.05 10.11 9.94 9.72 9.64 9.83 9.53 11.62 11.99 11.43 11.29 11.29 11.22 11.15 10.82 10.66 10.48 10.27 10.01 9.72 9.69
Other long-term liabilities 2.56 2.64 2.57 2.54 2.45 2.26 2.18 2.14 2.04 1.97 2.23 2.27 2.10 2.17 2.14 2.13 2.09 2.26 2.34 2.54 2.45 2.40 2.38 2.42
Long-term liabilities 29.18% 29.59% 31.50% 32.02% 33.02% 32.85% 29.52% 30.42% 30.84% 30.18% 23.79% 26.86% 25.71% 27.19% 28.29% 29.97% 30.41% 30.44% 30.61% 31.30% 30.73% 31.34% 30.56% 31.43%
Total liabilities 61.21% 61.08% 61.32% 61.29% 61.70% 61.65% 62.49% 63.29% 63.46% 62.79% 54.29% 54.23% 56.45% 56.63% 56.73% 56.72% 57.69% 56.46% 58.10% 55.51% 57.67% 57.18% 59.08% 59.84%
Preferred stock, $0.001 par value; none issued and outstanding 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock and additional paid-in capital, $0.001 par value 38.32 38.99 39.31 39.77 39.04 39.17 38.33 37.29 36.81 36.86 44.48 45.10 43.48 44.74 45.31 46.19 45.44 45.89 44.87 44.41 43.43 44.68 43.61 43.54
Retained earnings (accumulated deficit) 1.21 0.56 0.05 -0.30 0.04 0.13 0.41 0.54 0.87 1.67 2.73 2.72 1.61 0.27 -0.38 -0.64 -1.40 -0.78 -2.13 0.58 -0.67 -1.55 -2.46 -2.90
Accumulated other comprehensive loss -0.74 -0.63 -0.68 -0.77 -0.78 -0.95 -1.23 -1.12 -1.15 -1.33 -1.49 -2.05 -1.55 -1.65 -1.65 -2.28 -1.73 -1.58 -0.84 -0.49 -0.43 -0.31 -0.23 -0.47
Total equity 38.79% 38.92% 38.68% 38.71% 38.30% 38.35% 37.51% 36.71% 36.54% 37.21% 45.71% 45.77% 43.55% 43.37% 43.27% 43.28% 42.31% 43.54% 41.90% 44.49% 42.33% 42.82% 40.92% 40.16%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

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.

AI Ask an analyst for more