Return on Assets (ROA)
since 2005
Calculation
Cisco Systems Inc., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss)1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Jul 25, 2026 | 10.23% | = | 100 | × | 13,267) | ÷ | 129,637) |
| Jul 26, 2025 | 8.32% | = | 100 | × | 10,180) | ÷ | 122,291) |
| Jul 27, 2024 | 8.29% | = | 100 | × | 10,320) | ÷ | 124,413) |
| Jul 29, 2023 | 12.38% | = | 100 | × | 12,613) | ÷ | 101,852) |
| Jul 30, 2022 | 12.57% | = | 100 | × | 11,812) | ÷ | 94,002) |
| Jul 31, 2021 | 10.86% | = | 100 | × | 10,591) | ÷ | 97,497) |
| Jul 25, 2020 | 11.82% | = | 100 | × | 11,214) | ÷ | 94,853) |
| Jul 27, 2019 | 11.88% | = | 100 | × | 11,621) | ÷ | 97,793) |
| Jul 28, 2018 | 0.10% | = | 100 | × | 110) | ÷ | 108,784) |
| Jul 29, 2017 | 7.40% | = | 100 | × | 9,609) | ÷ | 129,818) |
| Jul 30, 2016 | 8.83% | = | 100 | × | 10,739) | ÷ | 121,652) |
| Jul 25, 2015 | 7.91% | = | 100 | × | 8,981) | ÷ | 113,481) |
| Jul 26, 2014 | 7.47% | = | 100 | × | 7,853) | ÷ | 105,134) |
| Jul 27, 2013 | 9.87% | = | 100 | × | 9,983) | ÷ | 101,191) |
| Jul 28, 2012 | 8.76% | = | 100 | × | 8,041) | ÷ | 91,759) |
| Jul 30, 2011 | 7.45% | = | 100 | × | 6,490) | ÷ | 87,095) |
| Jul 31, 2010 | 9.57% | = | 100 | × | 7,767) | ÷ | 81,130) |
| Jul 25, 2009 | 9.00% | = | 100 | × | 6,134) | ÷ | 68,128) |
| Jul 26, 2008 | 13.71% | = | 100 | × | 8,052) | ÷ | 58,734) |
| Jul 28, 2007 | 13.75% | = | 100 | × | 7,333) | ÷ | 53,340) |
| Jul 29, 2006 | 12.88% | = | 100 | × | 5,580) | ÷ | 43,315) |
| Jul 30, 2005 | 16.94% | = | 100 | × | 5,741) | ÷ | 33,883) |
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 financial performance from 2005 to 2026 demonstrates a fluctuating trajectory in asset efficiency and profitability. While net income has generally trended upward over the long term, the Return on Assets (ROA) has experienced significant volatility, reflecting changes in both earnings capacity and the scale of the asset base.
- Return on Assets (ROA) Trends
- A significant decline in ROA is observed from a peak of 16.94% in 2005 to a period of relative stability between 7.40% and 9.87% from 2009 to 2017. A critical anomaly occurred in 2018, where ROA dropped to 0.10%, coinciding with a sharp contraction in net income. Following this event, a recovery phase is evident, with ROA returning to double digits between 2019 and 2023, before settling into a range of 8.29% to 10.23% in the final years of the period.
- Net Income Performance
- Net income exhibited a general growth trend, rising from 5,741 million US dollars in 2005 to 12,613 million US dollars by 2023. This growth was interrupted by a singular, drastic reduction to 110 million US dollars in 2018, which serves as the primary driver for the corresponding collapse in ROA for that fiscal year. Subsequent years show a return to normalized earnings levels exceeding 10 billion US dollars.
- Asset Base Expansion
- Total assets grew substantially from 33,883 million US dollars in 2005 to a peak of 129,818 million US dollars in 2017. This expansion of the balance sheet contributed to the gradual compression of the ROA, as the growth in the asset base often outpaced the growth in net income. After 2017, the asset base remained relatively stable, fluctuating between approximately 94 billion and 129 billion US dollars.
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Comparison to Competitors
Cisco Systems Inc., ROA, 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 | 10.23% | — | — | 5.86% | -94.90% | 7.45% |
| Jul 26, 2025 | 8.32% | 31.18% | 18.05% | 5.76% | 0.61% | 7.48% |
| Jul 27, 2024 | 8.29% | 25.68% | 20.31% | 3.91% | -13.90% | 11.73% |
| Jul 29, 2023 | 12.38% | 27.51% | 20.98% | 2.73% | -2.84% | 17.42% |
| Jul 30, 2022 | 12.57% | 28.29% | 19.96% | 6.00% | 4.78% | 8.90% |
| Jul 31, 2021 | 10.86% | 26.97% | 14.66% | 2.63% | 11.19% | 4.99% |
| Jul 25, 2020 | 11.82% | 17.73% | 13.39% | 3.88% | 4.12% | 4.39% |
| Jul 27, 2019 | 11.88% | 16.32% | 20.54% | -2.07% | -1.34% | 4.27% |
| Jul 28, 2018 | 0.10% | 16.28% | 10.65% | — | 15.69% | 2.61% |
| Jul 29, 2017 | 7.40% | 12.88% | 17.20% | — | -8.31% | 4.41% |
| Jul 30, 2016 | 8.83% | 14.20% | 10.65% | — | 1.28% | 6.18% |
| Jul 25, 2015 | 7.91% | 18.38% | 10.44% | — | -0.66% | 9.35% |
| Jul 26, 2014 | 7.47% | 17.04% | 10.71% | — | — | 6.80% |
| Jul 27, 2013 | 9.87% | 17.89% | — | — | — | 3.37% |
| Jul 28, 2012 | 8.76% | 23.70% | — | — | — | 5.07% |
| Jul 30, 2011 | 7.45% | 22.28% | — | — | — | 8.66% |
| Jul 31, 2010 | 9.57% | 18.64% | — | — | — | 7.26% |
| Jul 25, 2009 | 9.00% | 10.59% | — | — | — | 5.69% |
| Jul 26, 2008 | 13.71% | 12.22% | — | — | — | 9.61% |
| Jul 28, 2007 | 13.75% | 13.79% | — | — | — | 9.41% |
| Jul 29, 2006 | 12.88% | 11.56% | — | — | — | — |
| Jul 30, 2005 | 16.94% | 11.56% | — | — | — | — |
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., ROA, long-term trends, comparison to sector (technology hardware & equipment)
| Cisco Systems Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Jul 25, 2026 | 10.23% | — |
| Jul 26, 2025 | 8.32% | 21.93% |
| Jul 27, 2024 | 8.29% | 18.48% |
| Jul 29, 2023 | 12.38% | 20.39% |
| Jul 30, 2022 | 12.57% | 21.50% |
| Jul 31, 2021 | 10.86% | 18.83% |
| Jul 25, 2020 | 11.82% | 13.53% |
| Jul 27, 2019 | 11.88% | 11.76% |
| Jul 28, 2018 | 0.10% | 12.53% |
| Jul 29, 2017 | 7.40% | 11.43% |
| Jul 30, 2016 | 8.83% | 12.68% |
| Jul 25, 2015 | 7.91% | 15.39% |
| Jul 26, 2014 | 7.47% | 14.03% |
| Jul 27, 2013 | 9.87% | 15.23% |
| Jul 28, 2012 | 8.76% | 18.55% |
| Jul 30, 2011 | 7.45% | 15.91% |
| Jul 31, 2010 | 9.57% | 13.92% |
| Jul 25, 2009 | 9.00% | 9.70% |
| Jul 26, 2008 | 13.71% | 13.10% |
| Jul 28, 2007 | 13.75% | 13.75% |
| Jul 29, 2006 | 12.88% | 12.51% |
| Jul 30, 2005 | 16.94% | 15.57% |
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., ROA, long-term trends, comparison to industry (information technology)
| Cisco Systems Inc. | Information Technology | |
|---|---|---|
| Jul 25, 2026 | 10.23% | — |
| Jul 26, 2025 | 8.32% | 15.31% |
| Jul 27, 2024 | 8.29% | 11.80% |
| Jul 29, 2023 | 12.38% | 12.34% |
| Jul 30, 2022 | 12.57% | 14.33% |
| Jul 31, 2021 | 10.86% | 14.52% |
| Jul 25, 2020 | 11.82% | 11.46% |
| Jul 27, 2019 | 11.88% | 11.67% |
| Jul 28, 2018 | 0.10% | 10.94% |
| Jul 29, 2017 | 7.40% | 9.00% |
| Jul 30, 2016 | 8.83% | 9.68% |
| Jul 25, 2015 | 7.91% | 11.51% |
| Jul 26, 2014 | 7.47% | 12.33% |
| Jul 27, 2013 | 9.87% | 13.22% |
| Jul 28, 2012 | 8.76% | 14.06% |
| Jul 30, 2011 | 7.45% | 15.11% |
| Jul 31, 2010 | 9.57% | 14.45% |
| Jul 25, 2009 | 9.00% | 10.04% |
| Jul 26, 2008 | 13.71% | 11.87% |
| Jul 28, 2007 | 13.75% | 11.93% |
| Jul 29, 2006 | 12.88% | 12.20% |
| Jul 30, 2005 | 16.94% | 12.71% |
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).