Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Statement of Comprehensive Income
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
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Cisco Systems Inc., consolidated cash flow statement (quarterly data)
US$ in millions
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).
- Net Income
- The net income exhibits significant volatility over the reported quarters, peaking at 3,958 million US dollars in July 2023 and reaching low points around 1,886 million US dollars in October 2023. Despite fluctuations, the net income generally oscillates between approximately 2,000 to 3,500 million, indicating periodic contractions and recoveries.
- Depreciation, Amortization, and Other
- This expense category remains relatively stable with mild downward trends over the periods, ranging roughly from 400 to 600 million US dollars. Notable spikes appear in mid-2024, possibly reflecting changes in asset valuation or impairment.
- Share-Based Compensation Expense
- Share-based compensation shows a clear upward trend, increasing steadily from around 400 million to near 945 million US dollars by April 2025. This increase indicates growing expenses related to stock-based incentives, reflecting potentially higher employee compensation via equity.
- Provision (Benefit) for Receivables
- These provisions are generally low but display occasional spikes, such as 50 million US dollars in October 2019 and several negative values, indicating periodic adjustments in credit risk estimates for receivables.
- Deferred Income Taxes
- Deferred income taxes exhibit substantial variability with both positive and negative values, peaking with significant negative values like -742 million US dollars in July 2023 and dramatic swings across quarters, suggesting fluctuations in tax positions or timing differences in recognition of tax assets/liabilities.
- Gains and Losses on Divestitures, Investments, and Other, Net
- This item is volatile, ranging from large negative losses (e.g., -211 million US dollars) to positive gains (e.g., 134 million US dollars), indicating periodic realization of gains and losses from asset sales or investment adjustments.
- Accounts Receivable
- Significant fluctuations and large swings are observed, including negative values indicating decreases in receivables and positive spikes such as 2,227 million US dollars in April 2025. These movements may reflect changes in credit policies, billing cycles, or customer payment behaviors.
- Inventories
- Inventory balances demonstrate volatility with both negative and positive values, showing periods of inventory drawdown and build-up, without a clear consistent trend, which may point to inventory management adjustments in response to market demand or supply chain variations.
- Financing Receivables
- Exhibits sharp negative and positive fluctuations, notably a large negative adjustment around July 2020, followed by recovery. This pattern indicates changes in financing arrangements or collections.
- Other Assets and Liabilities
- Both categories show significant variability, with frequent large negative and positive shifts, highlighting ongoing reallocations of assets and liabilities, potentially from acquisition/divestiture activities or reclassifications.
- Changes in Operating Assets and Liabilities
- The net change in operating assets and liabilities is highly volatile, with extreme negative and positive values reflecting dynamic working capital management and impacts from acquisitions or divestitures.
- Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
- These adjustments fluctuate considerably, linked to non-cash expenses and operational cash flow timing differences, with no consistent directional trend across quarters.
- Net Cash Provided by Operating Activities
- Operating cash flow is generally strong, ranging from about 808 million up to nearly 5,966 million US dollars, but with notable drops such as in January 2024. The cash flows largely exceed net income levels, suggesting sound operational cash generation.
- Purchases, Sales, and Maturities of Investments
- Purchases of investments show an overall upward trend followed by some reduction, while proceeds from sales and maturities fluctuate but show substantial inflows in many quarters. The company actively manages its investment portfolio with significant buying and selling activities.
- Acquisitions and Divestitures
- Net acquisitions and divestitures exhibit sporadic large negative amounts, including a sizeable acquisition outlay around early 2024, indicating strategic investment in growth or portfolio realignment.
- Purchases and Returns of Investments in Privately Held Companies
- There is consistent modest investment in privately held companies, balanced by returns, suggesting ongoing active but limited involvement in private equity or similar ventures.
- Acquisition of Property and Equipment
- Capital expenditures remain moderate but steady, generally between 100 and 270 million US dollars per quarter, reflecting continuous investment in fixed assets.
- Net Cash Used in or Provided by Investing Activities
- Investing cash flows vary widely, with notably large negative outflows during some quarters, which align with acquisition periods, and occasional positive inflows, indicating selective divestitures or portfolio management.
- Issuances and Repurchases of Common Stock
- Common stock issuances are small and intermittent, whereas repurchases show a consistent, substantial cash outflow, peaking with large buybacks especially evident in late 2021 and early 2022, pointing to a strong stock repurchase program.
- Shares Repurchased for Tax Withholdings
- These repurchases occur routinely but at lower levels relative to total stock repurchases, reflecting tax-related equity compensation settlements.
- Short-Term Borrowings and Issuances/Repayments of Debt
- Short-term borrowings are irregular with multiple quarters lacking activity. Issuances of debt show spikes primarily in late 2023 and early 2024, indicating significant new borrowings, while repayments are substantial but follow a less pronounced pattern, suggesting active debt management including refinancing.
- Dividends Paid
- Dividends paid are consistent and stable over the periods, hovering around 1,500 to 1,600 million US dollars per quarter, highlighting a steady return of cash to shareholders.
- Net Cash Provided by or Used in Financing Activities
- Financing cash flows are predominantly negative, driven by stock repurchases, debt repayments, and dividend payments, with occasional positive inflows particularly in 2024, corresponding to debt issuance spikes, indicating fluctuating financing strategies across quarters.
- Effect of Foreign Currency Exchange Rate Changes
- The currency exchange impact is relatively minor but generally negative, with some positive quarters, suggesting exchange rate fluctuations exert modest influence on cash balances.
- Net Increase or Decrease in Cash and Cash Equivalents
- Cash balances fluctuate markedly, with quarters showing both significant increases and decreases, reflective of the dynamics in operating, investing, and financing cash flows combined with currency effects.