CISCO SYSTEMS, INC. (CSCO) [Rocket]

In millions, except per share items	Jul-31-21	Jul-25-20	Jul-27-19	Jul-28-18	Jul-29-17	Jul-30-16	Jul-25-15	Jul-26-14
Revenues	49,818	49,301	51,904	49,330	48,005	49,247	49,161	47,142
Revenue growth	1.0%	-5.0%	5.2%	2.8%	-2.5%	0.2%	4.3%	-3.0%
Cost of goods sold	17,924	17,618	19,238	18,724	17,781	18,287	19,480	19,373
Gross profit	31,894	31,683	32,666	30,606	30,224	30,960	29,681	27,769
Gross margin	64.0%	64.3%	62.9%	62.0%	63.0%	62.9%	60.4%	58.9%
Sales and marketing	9,259	9,169	9,571	9,242	9,184	9,619	9,821	9,503
Research and development	6,549	6,347	6,577	6,332	6,059	6,296	6,207	6,294
General and administrative	2,152	1,925	1,827	2,144	1,993	1,814	2,040	1,934
EBITA	13,934	14,242	14,691	12,888	12,988	13,231	11,613	10,038
EBITA margin	28.0%	28.9%	28.3%	26.1%	27.1%	26.9%	23.6%	21.3%
Amortization of intangibles	215	141	150	221	259	303	359	275
EBIT	13,719	14,101	14,541	12,667	12,729	12,928	11,254	9,763
EBIT margin	27.5%	28.6%	28.0%	25.7%	26.5%	26.3%	22.9%	20.7%
Pre-tax income	13,262	13,970	14,571	13,039	12,287	12,920	11,201	9,715
Income taxes	2,671	2,756	2,950	12,929	2,678	2,181	2,220	1,862
Tax rate	20.1%	19.7%	20.2%	99.2%	21.8%	16.9%	19.8%	19.2%
Net income	10,591	11,214	11,621	110	9,609	10,739	8,981	7,853
Net margin	21.3%	22.7%	22.4%	0.2%	20.0%	21.8%	18.3%	16.7%

Diluted EPS	$2.50	$2.64	$2.61	$0.02	$1.90	$2.11	$1.75	$1.49
Shares outstanding (diluted)	4,236	4,254	4,453	4,881	5,049	5,088	5,146	5,281

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