Cisco Systems (CSCO) 10-K Summary — Year Ended Jul 27, 2024
Cisco reported a year-over-year decline in revenue, while operating income and net income remained positive. The company's cash flow from operations stayed robust, supporting ongoing capital allocation.
Key takeaway
Year ended Jul 27, 2024 · FY2025 10-K
Cisco reported a year-over-year decline in revenue, while operating income and net income remained positive. The company's cash flow from operations stayed robust, supporting ongoing capital allocation.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$53.8B
Revenue reported for the fiscal year.
Operating income
$12.2B
Income from operations reported for the year.
Net income
$10.3B
Net income reported for the year.
Operating cash flow
$10.9B
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% |
| Jul 27, 2024 | $53.8B | -5.6% |
Business overview
Cisco designs and sells networking hardware, software, and services globally. Its offerings include switches, routers, wireless, cybersecurity, and collaboration solutions. The company serves enterprises, service providers, and public-sector customers.
Financial performance
Revenue decreased compared to the prior year, driven by slower demand in certain product segments. Operating income and net income each contracted but remained at substantial levels. Cash generated from operations also declined but stayed strong.
Material risks
Key risks include supply chain disruptions affecting product delivery, intense competition from cloud and software rivals, and cybersecurity threats to both Cisco and its customers. Geopolitical tensions and trade restrictions could also impact operations.
Liquidity and capital
Cisco's liquidity position remained solid, supported by operating cash flow and available credit facilities. The company continued to return cash to shareholders through dividends and share repurchases.
What to watch
Investors should watch whether revenue stabilizes or resumes growth in the next filing, given the recent decline.