Cisco Systems Inc (CSCO)

Debt-to-assets ratio

		Jul 31, 2025	Jul 31, 2024	Jul 27, 2024	Jul 31, 2023	Jul 29, 2023
Long-term debt	US$ in thousands	—	—	19,621,000	—	6,658,000
Total assets	US$ in thousands	122,564,000	124,413,000	124,413,000	101,852,000	101,852,000
Debt-to-assets ratio		0.00	0.00	0.16	0.00	0.07

July 31, 2025 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $122,564,000K
= 0.00

The provided data for Cisco Systems Inc.'s debt-to-assets ratio indicates a fluctuating trend over the observed periods. As of July 29, 2023, the ratio was recorded at 0.07, indicating that approximately 7% of the company’s assets were financed through debt. This relatively low ratio suggests a conservative leverage position at that time.

By July 31, 2023, the ratio is listed as 0.00, which could imply minimal or negligible debt relative to total assets during that specific date, or possibly a data reporting anomaly. It is important to consider that a ratio of zero could also suggest that the company had no debt or that debt and assets data were not available or not disclosed sufficiently for that period.

Moving forward to July 27, 2024, the ratio increased significantly to 0.16. This indicates that approximately 16% of the company's assets were financed through debt, reflecting an increased leverage position, potentially to support expansion, acquisitions, or other strategic initiatives. The increase suggests a shift toward higher debt levels relative to assets compared to the previous periods.

However, by July 31, 2024, and July 31, 2025, the ratio again records at 0.00, which may imply that the company significantly reduced its debt levels or that the available data no longer reports debt-to-assets ratios during those periods. The recurring zeros could also indicate a change in the accounting or reporting practices, a shift to a highly conservative capital structure, or data limitations.

In summary, the debt-to-assets ratio for Cisco Systems Inc. demonstrates a period of slight leverage increase in mid-2024, followed by the reporting of negligible or no debt relative to assets in subsequent periods. The low and zero-to-low ratios suggest a conservative capital structure with minimal reliance on debt financing during these points in time.