Current Ratio
since 2005
Calculation
Cisco Systems Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Jul 25, 2026 | 0.93 | = | 38,665) | ÷ | 41,525) |
| Jul 26, 2025 | 1.00 | = | 34,986) | ÷ | 35,064) |
| Jul 27, 2024 | 0.91 | = | 36,862) | ÷ | 40,584) |
| Jul 29, 2023 | 1.38 | = | 43,348) | ÷ | 31,309) |
| Jul 30, 2022 | 1.43 | = | 36,717) | ÷ | 25,640) |
| Jul 31, 2021 | 1.49 | = | 39,112) | ÷ | 26,257) |
| Jul 25, 2020 | 1.72 | = | 43,573) | ÷ | 25,331) |
| Jul 27, 2019 | 1.51 | = | 47,755) | ÷ | 31,712) |
| Jul 28, 2018 | 2.29 | = | 61,837) | ÷ | 27,035) |
| Jul 29, 2017 | 3.03 | = | 83,703) | ÷ | 27,583) |
| Jul 30, 2016 | 3.16 | = | 78,719) | ÷ | 24,911) |
| Jul 25, 2015 | 3.23 | = | 76,283) | ÷ | 23,623) |
| Jul 26, 2014 | 3.39 | = | 67,114) | ÷ | 19,809) |
| Jul 27, 2013 | 2.95 | = | 65,521) | ÷ | 22,192) |
| Jul 28, 2012 | 3.49 | = | 61,933) | ÷ | 17,731) |
| Jul 30, 2011 | 3.27 | = | 57,231) | ÷ | 17,506) |
| Jul 31, 2010 | 2.67 | = | 51,421) | ÷ | 19,233) |
| Jul 25, 2009 | 3.24 | = | 44,177) | ÷ | 13,655) |
| Jul 26, 2008 | 2.58 | = | 35,699) | ÷ | 13,858) |
| Jul 28, 2007 | 2.36 | = | 31,574) | ÷ | 13,358) |
| Jul 29, 2006 | 2.27 | = | 25,676) | ÷ | 11,313) |
| Jul 30, 2005 | 1.37 | = | 13,031) | ÷ | 9,511) |
Based on: 10-K (reporting date: 2026-07-25), 10-K (reporting date: 2025-07-26), 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27), 10-K (reporting date: 2018-07-28), 10-K (reporting date: 2017-07-29), 10-K (reporting date: 2016-07-30), 10-K (reporting date: 2015-07-25), 10-K (reporting date: 2014-07-26), 10-K (reporting date: 2013-07-27), 10-K (reporting date: 2012-07-28), 10-K (reporting date: 2011-07-30), 10-K (reporting date: 2010-07-31), 10-K (reporting date: 2009-07-25), 10-K (reporting date: 2008-07-26), 10-K (reporting date: 2007-07-28), 10-K (reporting date: 2006-07-29), 10-K (reporting date: 2005-07-30).
1 US$ in millions
The liquidity profile of the organization exhibits three distinct phases over the analyzed period: a period of aggressive expansion, a phase of peak liquidity, and a subsequent sustained decline in the short-term solvency margin.
- Current Asset Trajectory
- Current assets experienced significant growth from 2005 to 2016, rising from 13,031 million USD to a peak of 83,703 million USD. However, a reversal occurred starting in 2017, with assets trending downward to 36,862 million USD by 2024, reflecting a substantial contraction in liquid resources.
- Current Liability Evolution
- Current liabilities demonstrated a general long-term upward trend, increasing from 9,511 million USD in 2005 to 40,584 million USD by 2024. While there were intermittent fluctuations, the overall trajectory indicates a steady increase in short-term obligations over the two-decade period.
- Current Ratio Dynamics
- The current ratio reflects these diverging trends. From 2005 to 2012, the ratio grew from 1.37 to a peak of 3.49, indicating a highly liquid position. Between 2013 and 2016, the ratio remained robust, generally staying above 3.0. A sharp decline began after 2016, with the ratio falling to 1.51 by 2018 and continuing to erode until it reached a low of 0.91 in 2024. This represents a transition from a position of excessive liquidity to one where current liabilities may exceed current assets, suggesting a tighter working capital environment.
The data suggests a fundamental shift in capital structure and liquidity management, moving from a conservative, asset-heavy short-term position to a posture where the current ratio fluctuates around or below the 1.0 threshold in the final years of the analyzed period.
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Comparison to Competitors
Cisco Systems Inc., current ratio, long-term trends, comparison to competitors
| Cisco Systems Inc. | Apple Inc. | Arista Networks Inc. | Dell Technologies Inc. | Lumentum Holdings Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|
| Jul 25, 2026 | 0.93 | — | — | 0.91 | 1.68 | 3.87 |
| Jul 26, 2025 | 1.00 | 0.89 | 3.05 | 0.78 | 4.37 | 5.25 |
| Jul 27, 2024 | 0.91 | 0.87 | 4.36 | 0.74 | 5.90 | 3.81 |
| Jul 29, 2023 | 1.38 | 0.99 | 4.39 | 0.82 | 4.38 | 2.31 |
| Jul 30, 2022 | 1.43 | 0.88 | 4.29 | 0.80 | 4.38 | 1.91 |
| Jul 31, 2021 | 1.49 | 1.07 | 4.34 | 0.80 | 3.67 | 1.93 |
| Jul 25, 2020 | 1.72 | 1.36 | 4.99 | 0.70 | 7.24 | 2.25 |
| Jul 27, 2019 | 1.51 | 1.54 | 5.81 | 0.80 | 4.53 | 2.35 |
| Jul 28, 2018 | 2.29 | 1.12 | 4.48 | — | 5.27 | 1.89 |
| Jul 29, 2017 | 3.03 | 1.28 | 4.28 | — | 5.05 | 1.88 |
| Jul 30, 2016 | 3.16 | 1.35 | 3.32 | — | 2.82 | 2.58 |
| Jul 25, 2015 | 3.23 | 1.11 | 4.15 | — | 2.55 | 2.01 |
| Jul 26, 2014 | 3.39 | 1.08 | 4.71 | — | — | 2.10 |
| Jul 27, 2013 | 2.95 | 1.68 | — | — | — | 2.16 |
| Jul 28, 2012 | 3.49 | 1.50 | — | — | — | 2.19 |
| Jul 30, 2011 | 3.27 | 1.61 | — | — | — | 2.63 |
| Jul 31, 2010 | 2.67 | 2.01 | — | — | — | 2.15 |
| Jul 25, 2009 | 3.24 | 1.88 | — | — | — | 2.47 |
| Jul 26, 2008 | 2.58 | 2.46 | — | — | — | 2.05 |
| Jul 28, 2007 | 2.36 | 2.36 | — | — | — | 2.21 |
| Jul 29, 2006 | 2.27 | 2.24 | — | — | — | — |
| Jul 30, 2005 | 1.37 | 2.96 | — | — | — | — |
Based on: 10-K (reporting date: 2026-07-25), 10-K (reporting date: 2025-07-26), 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27), 10-K (reporting date: 2018-07-28), 10-K (reporting date: 2017-07-29), 10-K (reporting date: 2016-07-30), 10-K (reporting date: 2015-07-25), 10-K (reporting date: 2014-07-26), 10-K (reporting date: 2013-07-27), 10-K (reporting date: 2012-07-28), 10-K (reporting date: 2011-07-30), 10-K (reporting date: 2010-07-31), 10-K (reporting date: 2009-07-25), 10-K (reporting date: 2008-07-26), 10-K (reporting date: 2007-07-28), 10-K (reporting date: 2006-07-29), 10-K (reporting date: 2005-07-30).
Comparison to Sector (Technology Hardware & Equipment)
Cisco Systems Inc., current ratio, long-term trends, comparison to sector (technology hardware & equipment)
| Cisco Systems Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Jul 25, 2026 | 0.93 | — |
| Jul 26, 2025 | 1.00 | 0.98 |
| Jul 27, 2024 | 0.91 | 0.92 |
| Jul 29, 2023 | 1.38 | 1.05 |
| Jul 30, 2022 | 1.43 | 0.96 |
| Jul 31, 2021 | 1.49 | 1.09 |
| Jul 25, 2020 | 1.72 | 1.25 |
| Jul 27, 2019 | 1.51 | 1.38 |
| Jul 28, 2018 | 2.29 | 1.36 |
| Jul 29, 2017 | 3.03 | 1.67 |
| Jul 30, 2016 | 3.16 | 1.80 |
| Jul 25, 2015 | 3.23 | 1.60 |
| Jul 26, 2014 | 3.39 | 1.64 |
| Jul 27, 2013 | 2.95 | 2.11 |
| Jul 28, 2012 | 3.49 | 2.13 |
| Jul 30, 2011 | 3.27 | 2.25 |
| Jul 31, 2010 | 2.67 | 2.33 |
| Jul 25, 2009 | 3.24 | 2.44 |
| Jul 26, 2008 | 2.58 | 2.52 |
| Jul 28, 2007 | 2.36 | 2.36 |
| Jul 29, 2006 | 2.27 | 2.26 |
| Jul 30, 2005 | 1.37 | 1.80 |
Based on: 10-K (reporting date: 2026-07-25), 10-K (reporting date: 2025-07-26), 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27), 10-K (reporting date: 2018-07-28), 10-K (reporting date: 2017-07-29), 10-K (reporting date: 2016-07-30), 10-K (reporting date: 2015-07-25), 10-K (reporting date: 2014-07-26), 10-K (reporting date: 2013-07-27), 10-K (reporting date: 2012-07-28), 10-K (reporting date: 2011-07-30), 10-K (reporting date: 2010-07-31), 10-K (reporting date: 2009-07-25), 10-K (reporting date: 2008-07-26), 10-K (reporting date: 2007-07-28), 10-K (reporting date: 2006-07-29), 10-K (reporting date: 2005-07-30).
Comparison to Industry (Information Technology)
Cisco Systems Inc., current ratio, long-term trends, comparison to industry (information technology)
| Cisco Systems Inc. | Information Technology | |
|---|---|---|
| Jul 25, 2026 | 0.93 | — |
| Jul 26, 2025 | 1.00 | 1.39 |
| Jul 27, 2024 | 0.91 | 1.24 |
| Jul 29, 2023 | 1.38 | 1.41 |
| Jul 30, 2022 | 1.43 | 1.37 |
| Jul 31, 2021 | 1.49 | 1.55 |
| Jul 25, 2020 | 1.72 | 1.71 |
| Jul 27, 2019 | 1.51 | 1.66 |
| Jul 28, 2018 | 2.29 | 1.88 |
| Jul 29, 2017 | 3.03 | 2.04 |
| Jul 30, 2016 | 3.16 | 2.01 |
| Jul 25, 2015 | 3.23 | 2.04 |
| Jul 26, 2014 | 3.39 | 1.98 |
| Jul 27, 2013 | 2.95 | 2.20 |
| Jul 28, 2012 | 3.49 | 2.08 |
| Jul 30, 2011 | 3.27 | 2.12 |
| Jul 31, 2010 | 2.67 | 2.02 |
| Jul 25, 2009 | 3.24 | 2.04 |
| Jul 26, 2008 | 2.58 | 1.80 |
| Jul 28, 2007 | 2.36 | 1.79 |
| Jul 29, 2006 | 2.27 | 1.86 |
| Jul 30, 2005 | 1.37 | 2.02 |
Based on: 10-K (reporting date: 2026-07-25), 10-K (reporting date: 2025-07-26), 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27), 10-K (reporting date: 2018-07-28), 10-K (reporting date: 2017-07-29), 10-K (reporting date: 2016-07-30), 10-K (reporting date: 2015-07-25), 10-K (reporting date: 2014-07-26), 10-K (reporting date: 2013-07-27), 10-K (reporting date: 2012-07-28), 10-K (reporting date: 2011-07-30), 10-K (reporting date: 2010-07-31), 10-K (reporting date: 2009-07-25), 10-K (reporting date: 2008-07-26), 10-K (reporting date: 2007-07-28), 10-K (reporting date: 2006-07-29), 10-K (reporting date: 2005-07-30).