Cisco Systems (CSCO) 10-K Summary — Year Ended Jul 29, 2023
Cisco Systems filed its annual report for the period ended July 29, 2023. The filing discusses the company's business, risk factors, and financial results, including revenue growth and supply chain challenges.
Key takeaway
Year ended Jul 29, 2023 · FY2025 10-K
Cisco Systems filed its annual report for the period ended July 29, 2023. The filing discusses the company's business, risk factors, and financial results, including revenue growth and supply chain challenges.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$57B
Revenue reported for the fiscal year.
Operating income
$15B
Income from operations reported for the year.
Net income
$12.6B
Net income reported for the year.
Operating cash flow
$19.9B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jul 31, 2021 | $49.8B | n/a |
| Jul 30, 2022 | $51.6B | +3.5% |
| Jul 29, 2023 | $57B | +10.6% |
Business overview
Cisco Systems operates in the technology industry, providing networking hardware, software, and services. The company relies on contract manufacturers and a global supply chain to produce its products. The filing notes that Cisco does not own or operate most of its manufacturing facilities.
Financial performance
Revenue increased compared to the prior year, while operating income and net income were reported at levels consistent with the company's scale. Operating cash flow was also reported. The filing shows a multi-year trend of rising revenue.
Material risks
The filing identifies risks related to supply chain disruptions, including shortages of components or manufacturing capacity, which could increase costs or delay order fulfillment. Financial problems of contract manufacturers or component suppliers, as well as geopolitical tensions and natural disasters, are cited as potential adverse factors. The company also notes that failure to estimate customer demand accurately could lead to excess or obsolete inventory, harming gross margins.
Liquidity and capital
The filing discusses liquidity and capital resources in the context of inventory supply chain management. No specific capital allocation themes beyond supply chain considerations are detailed in the provided context.
What to watch
Monitor the company's ability to manage supply chain disruptions and component availability in the next filing.