CISCO SYSTEMS, INC. (CSCO) [Rocket]

In millions, except per share items	Jul-30-22	Jul-31-21	Jul-25-20	Jul-27-19	Jul-28-18	Jul-29-17	Jul-30-16	Jul-25-15
Revenues	51,557	49,818	49,301	51,904	49,330	48,005	49,247	49,161
Revenue growth	3.5%	1.0%	-5.0%	5.2%	2.8%	-2.5%	0.2%	4.3%
Cost of goods sold	19,309	17,924	17,618	19,238	18,724	17,781	18,287	19,480
Gross profit	32,248	31,894	31,683	32,666	30,606	30,224	30,960	29,681
Gross margin	62.5%	64.0%	64.3%	62.9%	62.0%	63.0%	62.9%	60.4%
Sales and marketing	9,085	9,259	9,169	9,571	9,242	9,184	9,619	9,821
Research and development	6,774	6,549	6,347	6,577	6,332	6,059	6,296	6,207
General and administrative	2,101	2,152	1,925	1,827	2,144	1,993	1,814	2,040
EBITA	14,288	13,934	14,242	14,691	12,888	12,988	13,231	11,613
EBITA margin	27.7%	28.0%	28.9%	28.3%	26.1%	27.1%	26.9%	23.6%
Amortization of intangibles	313	215	141	150	221	259	303	359
EBIT	13,975	13,719	14,101	14,541	12,667	12,729	12,928	11,254
EBIT margin	27.1%	27.5%	28.6%	28.0%	25.7%	26.5%	26.3%	22.9%
Pre-tax income	14,477	13,262	13,970	14,571	13,039	12,287	12,920	11,201
Income taxes	2,665	2,671	2,756	2,950	12,929	2,678	2,181	2,220
Tax rate	18.4%	20.1%	19.7%	20.2%	99.2%	21.8%	16.9%	19.8%
Net income	11,812	10,591	11,214	11,621	110	9,609	10,739	8,981
Net margin	22.9%	21.3%	22.7%	22.4%	0.2%	20.0%	21.8%	18.3%

Diluted EPS	$2.82	$2.50	$2.64	$2.61	$0.02	$1.90	$2.11	$1.75
Shares outstanding (diluted)	4,192	4,236	4,254	4,453	4,881	5,049	5,088	5,146

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.