Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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Over the five-year period (2021–2025) Cisco’s total assets grew from $97,497m to $122,291m (≈ +25.4%), although the path was uneven: a small decline in 2022, recovery in 2023, and a large step-up in 2024 followed by a modest dip in 2025. Total liabilities rose more steeply, from $56,222m to $75,448m (+34.2%), with the biggest increase occurring in 2024 (+37.3% year-over-year). Stockholders’ equity increased modestly from $41,275m to $46,843m (+13.5%) and moved relatively steadily after 2022, but much less than assets or liabilities. The net effect is a notable rise in leverage in 2024: the equity-to-assets ratio fell from roughly 43% (2021–2023) to about 36–38% in 2024–2025, and liabilities-to-equity increased from ~1.3x to about 1.6–1.7x. The sharp 2024 jump in both assets and liabilities suggests a material financing event (for example, larger borrowings to fund acquisitions, working-capital buildup, or capital investments), while the modest equity growth implies retained earnings or capital issuance did not keep pace with balance-sheet expansion — or that shareholder returns (e.g., buybacks/dividends) moderated equity growth. In the context of the networking/software industry, such balance-sheet moves can accompany strategic M&A or investments in recurring‑revenue transitions; you should review the company’s cash-flow statement and notes for 2024 for confirmation.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.