1、Defining the Future of the Internet 2019 Annual Report About Cisco Cisco (NASDAQ: CSCO) is the worldwide technology leader that has been making the Internet work since 1984. Our people, products, and partners help society securely connect and seize tomorrows digital opportunity today. Find news at a
2、nd follow us on Twitter at Cisco. Cisco technology is creating a world of potential Discover more at: . The Pioneer of Scientific Optics Cisco and ZEISS bring mechanical precision into a world of connected data. Turku Energia, Finland By extending Turku Energias IT network to its operations, Cisco h
3、elps to secure the provision of heat and power. CORE CISCO TECHNOLOGIES: Webex | IoT | Services CORE CISCO TECHNOLOGIES: IoT | Switches | Security The worlds largest mobile data network Its a new day in India; Reliance Jio is empowering women in enterprise. Europes largest port Each year, 468 millio
4、n tons of cargo move through the Port of Rotterdam. Cisco helps to connect and protect them all. CORE CISCO TECHNOLOGIES: Mobile | Services | Infrastructure CORE CISCO TECHNOLOGIES: IoT | Security | IoT Kinetic | Routers This section provides an overview of Cisco. It does not contain all of the info
5、rmation you should consider. Please review our Annual Report on Form 10-K, our Proxy Statement for our 2019 Annual Meeting of Shareholders, and our Corporate Social Responsibility (CSR) Report, all available on: . Introduction to summary report Fiscal 2019 summary report 2 Letter to shareholders Def
6、ining the Future of the Internet 2019 Annual Report Visit our website to read online versions of this Annual Report, our Proxy Statement, and our CSR Report. We welcome any feedback you may have. 4 Financial highlights for fiscal 2019 6 Strategy 7 Leadership 8 Governance and responsibility 16 Stakeh
7、older engagement Forward-looking statements This report contains projections and other forward-looking statements regarding future events or the future financial performance of Cisco, including future operating results. These projections and statements are only predictions. Actual events or results
8、may differ materially from those in the projections or other forward-looking statements. See Ciscos filings with the Securities and Exchange Commission (SEC), including its most recent filings on Forms 10-K and 10-Q, for a discussion of important risk factors that could cause actual events or result
9、s to differ materially from those in the projections or other forward-looking statements. 1Cisco 2019 Annual Report Letter to shareholders To our shareholders, Fiscal 2019 was a great year for Cisco. We began the year with our sights set on continued growth, execution, and innovation. Our teams deli
10、vered all three. I truly believe that our portfolio has never been stronger, and I hear this from our customers as well. Technology has never been more critical to them as they navigate the complexity of their environments, and we have an opportunity to help drive their success. “We are reinventing
11、IT architectures designed to deliver a simple and secure value proposition to help our customers succeed.” Chuck Robbins, Chairman and CEO Four years ago, we set out to transform Cisco into a company that will lead our customers architectural transitions and power their futures. We are reinventing I
12、T architectures designed to deliver a simple and secure value proposition to help our customers succeed. At the same time, we continue to explore how we can provide the solutions to some of the worlds most pressing problems. Our customers drive our strategy Our strategy is aligned to the needs of ou
13、r customers and the outcomes they want to achieve. As we continue to build a highly secure, intelligent platform for digital business, there are six core elements we are focused on: applications, data, security, cloud, infrastructure, and teams. Every investment we make and every product and service
14、 we build fits within one of these categories that our customers care about. We understand that the applications being delivered to organizations represent the technology layer closest to the business opportunity. This is why we are delivering solutions like Application Centric Infrastructure (Cisco
15、 ACI), which simplifies, optimizes, and accelerates the deployment lifecycle of applications across data centers and multiple clouds. Another key offering, AppDynamics, provides visibility into applications to help customers make the right decision at the right time. This real-time action is critica
16、l in todays world, where success is increasingly defined by speed and agility. We also know that data is the most critical asset for our customers, and we are helping them not only gain valuable insights from it, but also secure it. In a multicloud world with more data, more users, and more services
17、, the threat surface is expanding while hackers tactics continue to evolve. We must protect users, data, and workloads that are moving and expanding to the cloud. We are integrating our firewall and secure web gateway capabilities into Cisco Umbrella, our cloud-native platform, to give customers a c
18、hoice in how they deploy security controlsfrom the network to the endpoint to the cloud. We are developing the capability to orchestrate security policies consistently across all environments with Cisco Defense Orchestrator. We are also integrating these solutionstogether with Duo, which controls us
19、er access to networks and applications, and Talos, our industry-leading threat intelligenceinto an end-to-end security architecture for the multicloud world. This brings us to infrastructure. We launched our intent-based networking platform two years ago to reinvent networking for todays dynamic env
20、ironment. Our new network is designed for agility using cloud and wireless capabilities, with the ability to garner insights from the data, and with security integrated throughout. This innovation required a new application-specific integrated circuit (ASIC) for the entire Cisco Catalyst 9000 switch
21、ing family and a new operating system designed to be open, programmable, resilient, secure, and capable of being run on-premises or hosted in the cloud. We also innovated at the controller layer, introducing Cisco DNA Center as the single controller to run the entire system. Now we are adding artifi
22、cial intelligence (AI) and machine learning capabilities to make it more intuitive and even simpler to use. For the first time, we have a completely refreshed portfolio of campus switches, wireless access points, and enterprise routing products with software-defined wide area network (SD-WAN) capabi
23、lities within our intent-based networking architecture. We have extended intent- based networking capabilities to the Internet of Things (IoT) edge to deliver unprecedented scale, flexibility, and security for increasingly connected environments. We continue to drive more automation, security, agili
24、ty, cost-efficiency, and ease of use for our customers, helping make the network the foundational driver of their business outcomes. The next step is to interconnect every domain of the expanded enterprise, from IoT to operational technology (OT), from the campus and the branch to the data center, a
25、nd from security to cloud and service 2Cisco 2019 Annual Report providers. This is what we are building: a multidomain architecture that helps securely connect any user on any device to any application on any network. Technology is also at the heart of how teams interact. Our customers need effectiv
26、e and simple ways for their teams to work better together to increase collaboration and productivity. They also need new ways to engage with customers and partners to drive enhanced, personalized experiences. Intimacy, speed of response, and simplicity of interaction are critical. Our cognitive coll
27、aboration solutions use AI and machine learning to bring powerful capabilities to our customers collaboration experiences. With AI seamlessly integrated across the collaboration suite, our customers can automate tasks, gain contextual insights, and build better relationships. When our customers win,
28、 Cisco wins With intent-based networking, software and the network have become increasingly interconnected. To help our customers take advantage of the new opportunities in application design, software development, and automation, we have introduced Cisco DevNet training and certification programs.
29、These programs provide both networking professionals and software developers with skills and industry recognition that translate into jobs and opportunities. Cisco-certified professionals join a global community that is defining the future of our industry. As we have evolved our portfolio, we have r
30、ethought how we engage with our customers through the entire lifecycle, from the time they buy our technology to the time they retire it. This allows them to gain greater value from their technology investments as well as speed in achieving that value, and this is what our Customer Experience teams,
31、 in partnership with Sales, are working on every day. We are supporting our customers and partners at every stage, from the planning phase to the development of capabilities and the renewal of subscriptions. We are integrating more intelligence, machine learning, and analytics into our solutions to
32、provide timely insights for customers, and our support-based resources are available to help them address the most challenging projects with greater speed and agility. We seek to provide customers with flexibility and continuous value through our software and subscription-based offerings. This is wh
33、y it is so important for us to support our customers through the entire lifecycle. In fiscal 2019 we delivered strong top-line growth and profitability, reporting revenue of $51.9 billion. Revenue from subscriptions was 65% of our software revenue in FY19, up 9 percentage points year-over-year adjus
34、ted for the divestiture of our Service Provider Video Software Solutions business. Today, we have a subscription model across our Enterprise Networking portfolio, and we will continue to broaden our offerings going forward. When our customers win, Cisco wins. That is why issues such as compliance an
35、d data privacy inform our innovation in automation, policy enforcement, and security. It is why we are reinventing IT architectures to help our customers address the unprecedented complexity of todays world to drive their future success. With opportunity comes responsibility I often say to our teams
36、 that when we run a great business, it gives us the ability to give back to our communities and to help change peoples lives for the better. This is more than just an opportunityit is a responsibility for businesses around the world to help their people, communities, and planet thrive. Several issue
37、s are particularly close to Ciscos heart, starting with the devastating issue of homelessness in Silicon Valley. We are working with Destination Home to provide services and housing for those most in need. We have also entered into a long-term partnership with Global Citizen, which is committed to e
38、nding extreme poverty globally by 2030. These are just a few of many examples. Three years ago, we set a goal to positively impact 1 billion people around the world by 2025 through our social impact grants and signature programs. Today we are almost halfway toward reaching that target. At the same t
39、ime, we are working to ensure the long-term sustainability of our business. We have set ourselves ambitious targets for greenhouse gas (GHG) reduction, renewable energy usage, plastic reduction, and product return, among other targets, taking into consideration the entire ecosystem and lifecycle of
40、the products and services we provide. In todays dynamic environment, we remain focused on our customers, teams, and communities, and on things we can control. We will continue to invest in silicon, optics, and software, the combination of which is Key milestones Completely refreshed portfolio of cam
41、pus switches, wireless access points, and enterprise routing products with SD-WAN capabilities within our intent-based networking architecture With 2.15 million students in 180 countries participating in Cisco Networking Academy in fiscal 2019, we exceeded our goal of reaching two million Cisco Netw
42、orking Academy students per year by 2021 Introduced new software developer training and certifications under DevNet, Ciscos developer program 469 million people positively impacted by our cash grant investments 50% of employees donated or volunteered in fiscal 2019 at the heart of our intent-based n
43、etworking strategy. We believe our new intent-based architecture gives us a unique market advantage and differentiation, while offering our customers the simple, intelligent, and highly secure environments they need to succeed. We intend to continue to build the most innovative products and solution
44、s to unleash the potential of our digital world. Thank you for your continued support. Chuck Robbins Chairman and Chief Executive Officer October 18, 2019 3Cisco 2019 Annual Report Financial highlights for fiscal 2019 Revenue trend ($B) 39.0 12.9 36.7 12.6 35.7 12.3 49.3 48.0 51.9 10 19 28 37 46 55
45、201920182017 Services revenue Product revenue 1% Other 58% Infrastructure platforms 11% Applications 25% Services 5% Security Revenue by product category and services by geographical segment 60% Americas 25% EMEA 15% APJC Margins (%) 27.4% 62.9%63.0% 24.9% 62.0% 25.0% Gross margin Operating margin 1
46、0 20 30 40 50 60 70 201920182017 Operating cash flow ($B) 0 4 8 12 16 201920182017 13.7 13.9 15.8 Operating cash flow 4Cisco 2019 Annual Report Capital allocation Primary uses of cash 4% Repayment of debt 67% Share repurchases 19% Dividends 7% Acquisitions, net 3% CapEx 118 5,049 4,881 432 418 4,453
47、 Share repurchases and diluted share count (M) 0 100 200 300 400 500 4100 4300 4500 4700 4900 5100 201920182017 Absolute number of shares repurchased Diluted share count 1.10 1.24 1.36 Dividends paid per share ($) 0.0 0.5 1.0 1.5 2.0 2.5 201920182017 Dividends paid per share 2.5 Total shareholder re
48、turn This graph shows a five-year comparison of the cumulative total shareholder return on Cisco common stock with the cumulative total returns of the S we educate millions of people in IT through Cisco Networking Academy; and we support social entrepreneurs who are addressing the worlds challenges.
49、 Through these strategic investments and signature programs, we are partnering to drive an inclusive digital economy and to positively impact 1 billion people by 2025. The cumulative number of people reached through these CSR investments and signature programs since we announced our goal in fiscal 2016 is 469 million, 47% of our 2025 goal.* This total does not include all of our CSR investments, including, for example, our cash and in-kind support for most natural disasters, our product grant investments, and some of our cash grant investments. A top priority for Cisco is
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