Analysis of Geographic Areas
Cisco Systems Inc. operates in 2 regions: United States and International.
Area Asset Turnover
Cisco Systems Inc., asset turnover by geographic area
| Jul 26, 2025 | Jul 27, 2024 | Jul 29, 2023 | Jul 30, 2022 | Jul 31, 2021 | Jul 25, 2020 | |
|---|---|---|---|---|---|---|
| United States | 12.83 | 12.74 | 14.15 | 13.32 | 11.92 | 11.21 |
| International | 25.15 | 27.80 | 28.74 | 24.93 | 19.07 | 22.18 |
Based on: 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).
- United States Asset Turnover Ratio
- The asset turnover ratio in the United States area demonstrates a generally upward trend from July 25, 2020, to July 29, 2023, increasing from 11.21 to a peak of 14.15. However, this is followed by a decline to 12.74 in July 27, 2024, before showing a slight recovery to 12.83 in July 26, 2025. Overall, the ratio exhibits growth in the initial years, indicating improving efficiency in asset utilization, but the latter period suggests some volatility or challenges in sustaining that growth.
- International Asset Turnover Ratio
- The international asset turnover ratio reveals greater volatility compared to the United States. Starting at 22.18 in July 25, 2020, the ratio decreases to 19.07 by July 31, 2021, representing a notable decline. Subsequently, it rebounds sharply to 24.93 in July 30, 2022, and continues to climb to its highest point at 28.74 by July 29, 2023. After reaching this peak, the ratio slightly decreases to 27.8 in July 27, 2024, and further to 25.15 in July 26, 2025. Despite the fluctuations, the overall international ratio remains substantially higher than the domestic figure throughout the period, indicating stronger asset utilization efficiency internationally, albeit with some instability in recent years.
- Comparative Insights
- Between the two geographic areas, international operations consistently show a significantly higher asset turnover ratio than the United States, suggesting greater efficiency in turning assets into revenue abroad. Both areas demonstrate growth phases followed by some declines, but the international ratio's volatility is more pronounced. The trends highlight the importance of continued monitoring of asset management strategies, especially in international markets, to sustain operational efficiency and adapt to changing conditions.
Area Asset Turnover: United States
Cisco Systems Inc.; United States; area asset turnover calculation
| Jul 26, 2025 | Jul 27, 2024 | Jul 29, 2023 | Jul 30, 2022 | Jul 31, 2021 | Jul 25, 2020 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue | 30,400) | 28,700) | 29,900) | 26,700) | 26,100) | 26,100) |
| Long-lived assets | 2,370) | 2,253) | 2,113) | 2,004) | 2,189) | 2,328) |
| Area Activity Ratio | ||||||
| Area asset turnover1 | 12.83 | 12.74 | 14.15 | 13.32 | 11.92 | 11.21 |
Based on: 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).
1 2025 Calculation
Area asset turnover = Revenue ÷ Long-lived assets
= 30,400 ÷ 2,370 = 12.83
- Revenue Trend
- The revenue in the United States geographic area demonstrates a generally upward trend over the six-year period. Starting at $26,100 million in 2020, revenue remained stable in 2021, with no change recorded. It then increased moderately to $26,700 million in 2022, followed by a more significant rise to $29,900 million in 2023. There was a dip to $28,700 million in 2024, but revenue rebounded to reach a peak of $30,400 million in 2025.
- Long-lived Assets Trend
- Long-lived assets exhibit a declining trend initially, decreasing from $2,328 million in 2020 to a low of $2,004 million in 2022. A subsequent recovery phase is observed, with asset values increasing to $2,113 million in 2023, further rising to $2,253 million in 2024, and culminating at $2,370 million in 2025. This indicates a shift from asset reduction to gradual asset accumulation or reinvestment after 2022.
- Area Asset Turnover Ratio Trend
- The area asset turnover ratio shows an overall improvement from 11.21 in 2020 to a peak of 14.15 in 2023, reflecting enhanced efficiency in generating revenue from asset base during this period. However, there is a noticeable decline to 12.74 in 2024, with a slight recovery to 12.83 in 2025. Despite the dip, turnover ratios in the latter years remain above the initial values, indicating sustained operational effectiveness.
- Summary Insights
- Revenue growth outpaces the changes in long-lived assets, especially after 2022, suggesting improved utilization or increased sales efficiency. The initial reduction in long-lived assets followed by recovery could reflect asset disposals and subsequent reinvestment strategies. The area asset turnover ratio trend supports this interpretation, showing rising efficiency until 2023 with some fluctuations thereafter. The dip in revenue and turnover ratio in 2024 may warrant further investigation into market conditions or operational factors affecting that year.
Area Asset Turnover: International
Cisco Systems Inc.; International; area asset turnover calculation
| Jul 26, 2025 | Jul 27, 2024 | Jul 29, 2023 | Jul 30, 2022 | Jul 31, 2021 | Jul 25, 2020 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue | 26,254) | 25,103) | 27,098) | 24,857) | 23,718) | 23,201) |
| Long-lived assets | 1,044) | 903) | 943) | 997) | 1,244) | 1,046) |
| Area Activity Ratio | ||||||
| Area asset turnover1 | 25.15 | 27.80 | 28.74 | 24.93 | 19.07 | 22.18 |
Based on: 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).
1 2025 Calculation
Area asset turnover = Revenue ÷ Long-lived assets
= 26,254 ÷ 1,044 = 25.15
- Revenue
- The revenue exhibited an overall upward trend from 23,201 million US dollars in the fiscal year ending July 25, 2020, to 26,254 million US dollars by July 26, 2025. There was a noticeable increase between 2021 and 2023, reaching a peak of 27,098 million US dollars in July 2023, followed by a decline in 2024 to 25,103 million US dollars, and then a recovery in 2025.
- Long-lived assets
- The value of long-lived assets showed fluctuations over the period. Starting at 1,046 million US dollars in 2020, it increased to 1,244 million US dollars in 2021, then decreased significantly to 997 million US dollars in 2022 and remained relatively stable around the 900 million mark through 2023 and 2024, before rising again to 1,044 million US dollars in 2025.
- Area asset turnover
- The area asset turnover ratio demonstrated variability with an initial decrease from 22.18 in 2020 to 19.07 in 2021. Subsequently, it increased substantially to 24.93 in 2022 and continued to climb, peaking at 28.74 in 2023. After a slight decline to 27.8 in 2024 and further to 25.15 in 2025, the ratio generally reflected improved efficiency in asset utilization over the observed period.
Revenue
Cisco Systems Inc., revenue by geographic area
US$ in millions
| Jul 26, 2025 | Jul 27, 2024 | Jul 29, 2023 | Jul 30, 2022 | Jul 31, 2021 | Jul 25, 2020 | |
|---|---|---|---|---|---|---|
| United States | 30,400) | 28,700) | 29,900) | 26,700) | 26,100) | 26,100) |
| International | 26,254) | 25,103) | 27,098) | 24,857) | 23,718) | 23,201) |
| Total | 56,654) | 53,803) | 56,998) | 51,557) | 49,818) | 49,301) |
Based on: 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).
- United States Revenue
- The revenue from the United States exhibited a steady upward trend overall, starting at 26,100 million US dollars in 2020. It remained flat through 2021, with no growth observed during that year. From 2021 to 2023, it increased notably, reaching a peak of 29,900 million in 2023. A slight dip occurred in 2024, dropping to 28,700 million, followed by a recovery in 2025 to 30,400 million.
- International Revenue
- The international segment showed consistent growth from 23,201 million in 2020 to 27,098 million in 2023. However, this was followed by a decline in 2024, with revenue falling to 25,103 million. In 2025, a moderate recovery occurred as the figure rose again to 26,254 million, though it did not return to the 2023 peak.
- Total Revenue
- Total revenue mirrored the combined trends of the United States and international areas. Starting at 49,301 million in 2020, it showed slight growth through 2022 to reach 51,557 million. A more substantial increase took place in 2023, peaking at 56,998 million. The following year saw a decrease to 53,803 million, but by 2025 total revenue rebounded to 56,654 million, approaching the previous high.
- Insights
- There is a clear pattern of general growth over the six-year period, with total revenue increasing by approximately 14.9%. The United States market displayed more stability and higher absolute growth compared to international markets, which, despite overall growth, experienced more volatility, including a notable dip in the penultimate year. The slight declines in 2024 for both segments led to a temporary reduction in total revenue, suggesting possible external or cyclical factors affecting the business during that year. The recoveries in 2025 indicate resilience and continued demand across both geographic areas.
Long-lived assets
Cisco Systems Inc., long-lived assets by geographic area
US$ in millions
| Jul 26, 2025 | Jul 27, 2024 | Jul 29, 2023 | Jul 30, 2022 | Jul 31, 2021 | Jul 25, 2020 | |
|---|---|---|---|---|---|---|
| United States | 2,370) | 2,253) | 2,113) | 2,004) | 2,189) | 2,328) |
| International | 1,044) | 903) | 943) | 997) | 1,244) | 1,046) |
| Total | 3,414) | 3,156) | 3,056) | 3,001) | 3,433) | 3,374) |
Based on: 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).
The data on long-lived assets distributed by geographic area reveals several notable trends over the analyzed periods.
- United States
- The value of long-lived assets in the United States initially declined from $2,328 million in 2020 to $2,004 million in 2022. This downward trend was followed by a recovery phase, with asset values increasing steadily to reach $2,370 million in 2025. This suggests a period of asset reduction or reallocation until 2022, followed by reinvestment or asset accumulation thereafter.
- International
- International long-lived assets showed more volatility. Starting at $1,046 million in 2020, the value rose to a peak of $1,244 million in 2021 but then experienced a decline over the next three years, bottoming out at $903 million in 2024. By 2025, there was some recovery to $1,044 million. The fluctuations indicate variable investment or asset revaluation in international markets.
- Total
- The total long-lived assets combine the trends from both regions. After a slight increase from $3,374 million in 2020 to $3,433 million in 2021, there was a notable decrease to $3,001 million in 2022. From that low point, total assets incrementally rose to $3,414 million by 2025. Overall, the total assets show a U-shaped pattern, with a trough in 2022 followed by gradual improvement.
In summary, the data reflects a period of contraction of long-lived assets primarily between 2020 and 2022, impacting both domestic and international holdings. Post-2022, the asset base shows signs of recovery, more pronounced on the domestic front, with international assets also exhibiting some rebound. The variability in international assets compared to the relatively steadier United States figures may indicate differing strategic approaches or market conditions across regions.