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Cisco Systems

NASDAQ: CSCO · USD

Cisco Systems debt and dilution63

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$29,533M
Oct 24, 2009 through Jul 25, 2026

Cash & equivalents

USD millions

$7,218M

Net debt

USD millions

$22,315M

Debt / equity

×

0.59×

Debt / assets

%

22.78%

Net debt / EBITDA

× · TTM

1.39×

Debt / FCF

× · TTM

2.31×

Interest coverage

× · TTM

10.45×

Current ratio

×

0.93×

Diluted shares

Million shares

3,987M shares

Basic shares

Million shares

3,950M shares

Share count growth

%

-0.28%

Share repurchases

USD millions

$1,501M

Quarterly data

Cisco Systems capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal periodEndedTotal debtUSD millionsCash & equivalentsUSD millionsNet debtUSD millionsDebt / equity×Debt / assets%Net debt / EBITDA×Debt / FCF×Interest coverage×Current ratio×Diluted sharesMillion sharesBasic sharesMillion sharesShare count growth%Share repurchasesUSD millions
FY 2026 Q4Jul 25, 202629,5337,21822,3150.59×22.78%1.39×2.31×10.45×0.93×3,9873,950-0.28%1,501
FY 2026 Q3Apr 25, 202631,3037,08324,2200.64×24.93%—2.66×9.69×0.92×3,9823,952-0.5%1,250
FY 2026 Q2Jan 24, 202630,0867,45822,6280.63×24.39%—2.46×9.01×0.96×3,9843,955-0.65%1,363
FY 2026 Q1Oct 25, 202528,0898,40019,6890.6×23.19%—2.21×8.37×0.93×3,9933,956-0.85%1,992
FY 2025 Q4Jul 26, 202528,0938,34619,7470.6×22.97%1.58×2.11×7.38×1×3,9803,961-1.44%1,252
FY 2025 Q3Apr 26, 202529,2798,16121,1180.64×24.44%—2.29×6.87×0.95×4,0023,972-1.73%1,505
FY 2025 Q2Jan 25, 202531,0388,55622,4820.68×25.57%—2.42×6.44×0.87×4,0053,981-1.82%1,240
FY 2025 Q1Oct 26, 202431,9879,06522,9220.71×25.94%—2.8×7.82×0.88×4,0133,990-1.65%2,003
FY 2024 Q4Jul 27, 202430,9627,50823,4540.68×24.89%1.82×3.03×12.11×0.91×4,0354,019-1.3%2,015
FY 2024 Q3Apr 27, 202431,9938,91323,0800.7×26.01%—2.58×19.77×0.89×4,0604,042-1.15%1,268
FY 2024 Q2Jan 27, 202411,60513,715-2,1100.25×11.47%—0.86×34.53×1.37×4,0734,055-1.17%1,204
FY 2024 Q1Oct 28, 20237,6509,602-1,9520.17×7.74%—0.44×36×1.47×4,0874,057-1.24%1,300
FY 2023 Q4Jul 29, 20238,39110,123-1,7320.19×8.24%-0.11×0.44×35.2×1.38×4,0874,072-1.36%1,264
FY 2023 Q3Apr 29, 20238,3948,0443500.2×8.61%—0.5×34.75×1.39×4,1104,089-1.52%1,269
FY 2023 Q2Jan 28, 20238,8879,009-1220.21×9.27%—0.58×35.58×1.41×4,1164,103-1.91%1,204
FY 2023 Q1Oct 29, 20228,8787,2921,5860.22×9.54%—0.67×37.93×1.45×4,1164,108-2.61%556
FY 2022 Q4Jul 30, 20229,5157,0792,4360.24×10.12%0.16×0.75×38.8×1.43×4,1564,128-2.08%2,342
FY 2022 Q3Apr 30, 20229,4186,9522,4660.23×10.15%—0.69×38.66×1.49×4,1704,152-1.59%242
FY 2022 Q2Jan 29, 202211,4716,7314,7400.29×12.17%—0.84×36.18×1.42×4,2054,183-0.95%4,832
FY 2022 Q1Oct 30, 20219,5027,6191,8830.22×9.9%—0.67×33.34×1.62×4,2434,218-0.28%273
FY 2021 Q4Jul 31, 202111,5269,1752,3510.28×11.82%0.17×0.78×29.57×1.49×4,232.924,215.85-0.26%781
FY 2021 Q3May 1, 202111,5327,3504,1820.29×12.28%—0.82×27.48×1.53×4,2384,219-0.26%527
FY 2021 Q2Jan 23, 202114,55411,7932,7610.37×15.22%—1.01×26.27×1.61×4,2344,223-0.45%769
FY 2021 Q1Oct 24, 202014,56610,8223,7440.38×15.33%—0.96×24.3×1.59×4,2444,230-0.38%800
FY 2020 Q4Jul 25, 202014,58311,8092,7740.38×15.37%0.19×1×23.28×1.72×4,2424,227-1.05%0
FY 2020 Q3Apr 25, 202016,08410,3665,7180.45×17.6%—1.09×20.99×1.59×4,2434,230-3.2%1,011
FY 2020 Q2Jan 25, 202015,9938,4757,5180.45×17.69%—1.08×18.86×1.81×4,2604,242-5.1%864
FY 2020 Q1Oct 26, 201918,4978,5879,9100.54×20%—1.25×17.15×1.7×4,2734,246-6.99%784
FY 2019 Q4Jul 27, 201924,66611,75012,9160.73×25.22%0.85×1.65×16.55×1.51×4,2854,272-8.56%4,675
FY 2019 Q3Apr 27, 201923,69810,25113,4470.64×24.36%—1.57×15.78×1.69×4,4154,370-8.79%5,980
FY 2019 Q2Jan 26, 201925,6309,83515,7950.63×25.01%—1.95×14.91×1.8×4,5054,470-9.22%4,986
FY 2019 Q1Oct 27, 201825,5648,41017,1540.58×24.25%—1.9×14.38×2.11×4,6144,565-7.95%5,076
FY 2018 Q4Jul 28, 201825,5698,93416,6350.59×23.5%1.24×1.99×13.05×2.29×4,8484,672-6.47%5,985
FY 2018 Q3Apr 28, 201828,0726,71921,3530.6×24.62%—2.2×12.75×2.34×4,8444,791-4.28%6,105
FY 2018 Q2Jan 27, 201839,36617,62421,7420.76×29.93%—2.87×13.04×2.43×4,9244,924-1.81%3,771
FY 2018 Q1Oct 28, 201735,92311,04324,8800.55×27.52%—2.69×13.2×2.87×4,9944,959-1.35%1,686
FY 2017 Q4Jul 29, 201733,71711,70822,0090.51×25.97%1.68×2.61×13.91×3.03×5,0284,995-0.72%1,169
FY 2017 Q3Apr 29, 201732,4708,11624,3540.5×25.78%—2.56×14.95×3.52×5,0455,005-0.54%525
FY 2017 Q2Jan 28, 201734,92210,89824,0240.55×27.66%—2.84×15.56×3.67×5,0405,015-1.08%968
FY 2017 Q1Oct 29, 201634,7898,58326,2060.55×27.55%—2.81×17.42×3.58×5,0665,027-1.04%1,023
FY 2016 Q4Jul 30, 201628,6437,63121,0120.45×23.55%1.54×2.31×18.73×3.16×5,066.465,031.46-1.07%755
FY 2016 Q3Apr 30, 201628,5958,89519,7000.46×24.1%—2.25×18.97×3.27×5,0655,032-1.37%810
FY 2016 Q2Jan 23, 201624,5996,31418,2850.4×21.84%—1.95×20×3.29×5,0975,070-0.92%1,134
FY 2016 Q1Oct 24, 201524,6215,75818,8630.41×22.03%—2.12×19.64×3.35×5,1135,080-0.63%1,210
FY 2015 Q4Jul 25, 201525,3546,87718,4770.42×22.34%1.56×2.24×19.03×3.23×5,1225,086-0.72%999
FY 2015 Q3Apr 25, 201521,0043,87017,1340.36×19.78%—1.95×18.91×2.98×5,1485,102-0.8%1,129
FY 2015 Q2Jan 24, 201520,5224,79715,7250.36×19.56%—1.88×18×3.39×5,1605,117-3.34%1,108
FY 2015 Q1Oct 25, 201420,9724,38716,5850.37×20.17%—1.92×16.4×3.31×5,1565,112-4.95%1,088
FY 2014 Q4Jul 26, 201420,9096,72614,1830.37×19.89%1.34×1.89×16.57×3.39×5,1915,123-4.56%1,448
FY 2014 Q3Apr 26, 201420,8926,24114,6510.37×20.51%—1.83×16.78×3.47×5,1805,143-3.49%2,285
FY 2014 Q2Jan 25, 201417,1475,33911,8080.31×17.42%—1.5×17.51×2.65×5,3275,294-0.45%3,782
FY 2014 Q1Oct 26, 201316,2265,25410,9720.28×16.11%—1.37×19.13×2.89×5,4305,3781.45%1,898
FY 2013 Q4Jul 27, 201316,2117,9258,2860.27×16.02%0.67×1.38×19.2×2.95×5,4375,3680.69%1,219
FY 2013 Q3Apr 27, 201316,2485,12211,1260.29×16.74%—1.5×18.32×2.92×5,3875,329-1.1%909
FY 2013 Q2Jan 26, 201316,2916,8479,4440.29×16.9%—1.52×17.81×3.38×5,3575,318-0.93%462
FY 2013 Q1Oct 27, 201216,3274,77311,5540.31×17.62%—1.56×17.63×3.38×5,3345,301-1.72%183
FY 2012 Q4Jul 28, 201216,3289,7996,5290.32×17.79%0.58×1.58×16.89×3.49×5,3625,331-2.74%1,892
FY 2012 Q3Apr 28, 201216,3696,4619,9080.32×17.96%—1.61×15.33×3.57×5,4565,388-2.18%513
FY 2012 Q2Jan 28, 201216,9048,5618,3430.34×18.94%—1.66×14.33×3.37×5,4015,368-2.95%474
FY 2012 Q1Oct 29, 201116,8534,74712,1060.36×19.38%—1.75×12.35×3.28×5,4075,394-3.59%1,881
FY 2011 Q4Jul 30, 201116,8227,6629,1600.36×19.31%—1.89×12.22×3.27×5,4645,481-3.65%1,332
FY 2011 Q3Apr 30, 201116,7496,63510,1140.35×19.62%—1.81×13.16×3.43×5,5375,508-3.89%1,014
FY 2011 Q2Jan 29, 201127,3934,92422,4690.6×33.41%—2.97×12.84×2.81×5,5875,531-3.66%1,849
FY 2011 Q1Oct 30, 201015,2783,79611,4820.34×19.09%—1.66×13.91×2.78×5,6755,595-2.98%2,701
FY 2010 Q4Jul 31, 201015,2844,58110,7030.35×18.84%—1.67×14.71×2.67×5,783.385,688.92—2,424
FY 2010 Q3May 1, 201015,2463,96111,2850.35×19.23%———2.7×5,8695,731—2,196
FY 2010 Q2Jan 23, 2010—4,710——————3.48×5,8625,741—1,375
FY 2010 Q1Oct 24, 2009—4,774——————3.4×5,8715,767—1,869
Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · CSCO, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt
Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents
Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt
Total debt − cash and equivalents. Negative means net cash.
Debt / equity
Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets
Total debt / total assets × 100.
Net debt / EBITDA
Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF
Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage
TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio
Current assets / positive current liabilities.
Diluted shares
Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares
Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth
Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases
Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.