Cisco Systems Inc (CSCO)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	47,116,000	45,457,000	45,457,000	44,353,000	44,353,000
Debt-to-equity ratio		0.00	0.00	0.43	0.00	0.15

July 31, 2025 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $47,116,000K
= 0.00

The debt-to-equity ratio for Cisco Systems Inc. exhibits notable fluctuations over the specified periods. On July 29, 2023, the ratio was at 0.15, indicating a relatively low level of leverage with a modest proportion of debt compared to shareholders’ equity. By July 31, 2023, the ratio dropped to 0.00, suggesting either an absence of reported debt or a reporting anomaly in that period. Moving forward to July 27, 2024, the ratio increased markedly to 0.43, reflecting a substantial rise in leverage, with debt comprising a more significant portion of the company's capital structure. However, in the subsequent periods—July 31, 2024, and July 31, 2025—the ratio again recorded values of 0.00, implying no reported debt relative to equity at these points.

These variations indicate a fluctuating leverage profile for Cisco, with periods of increased indebtedness followed by reports suggesting minimal or no leverage. The zero values in multiple periods could also point to possible changes in reporting practices, debt repayment, or a strategic shift in capital structure, emphasizing the importance of contextual understanding of the company's financial policy and debt management strategies over time.