Stock Analysis on Net
Stock Analysis on Net

Cisco Systems Inc. (NASDAQ:CSCO)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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

US$ in millions

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
Accounts payable
Income taxes payable
Accrued compensation
Deferred revenue
Other current liabilities
Current liabilities
Long-term debt, excluding current portion
Income taxes payable
Deferred revenue
Other long-term liabilities
Long-term liabilities
Total liabilities
Preferred stock, $0.001 par value; none issued and outstanding
Common stock and additional paid-in capital, $0.001 par value
Retained earnings (accumulated deficit)
Accumulated other comprehensive loss
Total equity
Total liabilities and equity

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 company's capital structure underwent a significant transformation starting in early 2024, characterized by a substantial increase in total leverage and a consistent expansion of stockholders' equity. Total liabilities shifted from a stable range of 53 billion to 57 billion USD between 2020 and 2023 to a higher plateau, peaking at 79.3 billion USD by July 2026.

Debt Profile and Leverage Shift
A sharp increase in both short-term and long-term debt is observed beginning in the first quarter of 2024. Short-term debt climbed from 4.9 billion USD in January 2024 to 11.8 billion USD by April 2024, maintaining an elevated level above 10 billion USD in most subsequent quarters. Simultaneously, long-term debt, excluding the current portion, surged from 6.6 billion USD in January 2024 to 20.1 billion USD by April 2024, eventually peaking at 22.8 billion USD. This indicates a strategic shift toward increased borrowing or a significant financing event during this period.
Deferred Revenue Trends
There is a consistent upward trend in deferred revenue across both current and long-term categories. Current deferred revenue grew from 11.2 billion USD in October 2020 to 16.9 billion USD by July 2026. Long-term deferred revenue followed a similar trajectory, increasing from 9.2 billion USD to 12.7 billion USD over the same period. This steady growth suggests an increase in prepaid contracts or a shift toward subscription-based revenue models.
Equity and Retained Earnings Recovery
Total equity exhibited steady growth, rising from 38.1 billion USD in October 2020 to 50.2 billion USD by July 2026. This growth was primarily supported by an increase in common stock and additional paid-in capital, which rose from 41.3 billion USD to 49.6 billion USD. Notably, retained earnings transitioned from a deficit of 2.7 billion USD in 2020 to a positive balance of 1.5 billion USD by July 2026, reflecting a recovery in accumulated earnings over the analysis period.
Tax Liability Dynamics
A divergence is noted between current and long-term income tax obligations. Long-term income taxes payable decreased significantly from 8.7 billion USD in October 2020 to 2.3 billion USD by July 2026. Conversely, current income taxes payable remained volatile, experiencing a peak of 4.2 billion USD in July 2023 before dropping sharply to approximately 190 million USD by early 2026.
Current Liabilities and Operational Obligations
Total current liabilities remained relatively stable between 23 billion and 31 billion USD until January 2024, after which they spiked to 40.1 billion USD. This increase was primarily driven by the aforementioned surge in short-term debt. Other operational liabilities, such as accounts payable and accrued compensation, remained relatively stable, though accounts payable showed a gradual increase toward 3.3 billion USD by July 2026.