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
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
SPVSS Business				168	903
Other				51,736	48,427
Revenues [+]	51,557	49,818	49,301	51,904	49,330	48,005	49,247	49,161
Products								37,750
Services								11,411
Revenue growth [+]	3.5%	1.0%	-5.0%	5.2%	2.8%	-2.5%	0.2%	4.3%
SPVSS Business				-81.4%
Cost of goods sold [+]	19,309	17,924	17,618	19,238	18,724	17,781	18,287	19,480
Cost of product sales								15,377
Cost of services								4,103
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%
Selling, general and administrative [+]	11,186	11,411	11,094	11,398	11,386	11,177	11,433	11,861
Sales and marketing	9,085	9,259	9,169	9,571	9,242	9,184	9,619	9,821
General and administrative	2,101	2,152	1,925	1,827	2,144	1,993	1,814	2,040
Research and development	6,774	6,549	6,347	6,577	6,332	6,059	6,296	6,207
Other operating expenses							303	359
EBITDA [+]	15,932	15,581	15,909	16,438	14,859	15,015	15,078	13,696
EBITDA growth	2.3%	-2.1%	-3.2%	10.6%	-1.0%	-0.4%	10.1%	12.2%
EBITDA margin	30.9%	31.3%	32.3%	31.7%	30.1%	31.3%	30.6%	27.9%
Depreciation	1,644	1,647	1,667	1,747	1,971	2,027	1,847	2,083
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 growth	1.9%	-2.7%	-3.0%	14.8%	-0.5%	-1.5%	14.9%	15.3%
EBIT margin	27.1%	27.5%	28.6%	28.0%	25.7%	26.5%	26.3%	22.9%
Non-recurring items	6	886	481	322	358	756	268	484
Interest expense, net [+]	360	434	585	859	943	861	676	-203
Interest expense	360	434	585	859	943	861	676	566
Interest income								769
Other income (expense), net [+]	868	863	935	1,211	1,673	1,175	936	228
Other	392	245	15	-97	165	-163	-69	228
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%

Basic EPS [+]	$2.83	$2.51	$2.65	$2.63	$0.02	$1.92	$2.13	$1.76
Growth	12.9%	-5.2%	0.7%	11463.9%	-98.8%	-9.8%	20.8%	17.3%
Diluted EPS [+]	$2.82	$2.50	$2.64	$2.61	$0.02	$1.90	$2.11	$1.75
Growth	12.7%	-5.2%	1.0%	11480.0%	-98.8%	-9.8%	20.9%	17.4%

Dividends per share [+]	$1.50	$1.46	$1.42	$1.36	$1.24	$1.10	$0.94	$0.80
Growth	2.7%	2.8%	4.4%	9.7%	12.7%	17.0%	17.5%	11.1%

Shares outstanding (basic) [+]	4,170	4,222	4,236	4,419	4,837	5,010	5,053	5,104
Growth	-1.2%	-0.3%	-4.1%	-8.6%	-3.5%	-0.9%	-1.0%	-2.5%
Shares outstanding (diluted) [+]	4,192	4,236	4,254	4,453	4,881	5,049	5,088	5,146
Growth	-1.0%	-0.4%	-4.5%	-8.8%	-3.3%	-0.8%	-1.1%	-2.6%

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