Here are the 10-K annual reports from Cisco Systems, Inc. (CSCO) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow CSCO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CSCO filings page.
Cisco Systems, Inc. (CSCO) reported strong growth for the year ended July 25, 2026, with total revenue of $63.3 billion, up from $56.7 billion in 2025, led by product revenue of $48.3 billion and services of $15.0 billion. Net income rose to $13.3 billion, and diluted EPS increased to $3.33, reflecting higher gross margin of $40.9 billion and operating income of $15.4 billion.
Cisco generated operating cash flow of $14.2 billion and free cash flow of $12.8 billion, and returned $12.7 billion to shareholders through dividends and buybacks while ending the year with $15.9 billion in cash, cash equivalents and investments. Remaining performance obligations reached $46.7 billion and deferred revenue was $29.8 billion, underscoring a large base of contracted future business.
At the same time, inventories grew to $5.7 billion and inventory purchase commitments to $17.2 billion, largely tied to Cisco Silicon One and components for AI-related demand, increasing the risk of excess and obsolete inventory if demand or forecasts change. Total contractual obligations were $53.5 billion, and financing receivables increased to $8.3 billion as more customers used Cisco Capital.
Cisco Systems, Inc. reported fiscal 2025 operating results and strategic progress centered on AI, security, observability and infrastructure. Total product revenue rose 6% year-over-year with strong contributions from Security (+59%) and Observability (+26%), while Networking fell 3%. Revenue grew across regions: Americas +$1.7B, EMEA +$0.7B, APJC +$0.5B. Operating income margin for the year declined about 1.8 percentage points, and diluted EPS was flat versus fiscal 2024. Cisco recorded $744 million of restructuring charges in fiscal 2025 tied to a planned program (~7% of workforce; ~ $1.0B estimated pre-tax total). The effective tax rate fell to 8.3% from 15.6%, driven largely by a $720 million tax benefit from a U.S. Tax Court opinion and stock-based compensation windfall. The company has $24.8B of senior notes outstanding and $3.5B of commercial paper, and returned capital via a policy to target at least 50% of free cash flow to shareholders.