- 公司背景
Cisco System, Inc. (Cisco), incorporated on December 10, 1984, designs, manufactures, and sells Internet protocol (IP)-based networking products and services related to the communications and information technology (IT) industry. The Company’s customers include businesses of all sizes, public institutions, telecommunication companies, other service providers and individuals. Cisco connects people, process, data and things with products that transport data, voice, and video within buildings, across campuses, and around the world.
- Market segment
The Company’s business is organized in three segments: the Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
- Product
- Switching
Switching is an integral networking technology used in campuses, branch offices and data centers. Switches are used within buildings in local-area networks (LANs) and across great distances in wide-area networks (WANs). The Company’s switching products offer many forms of connectivity to end users, workstations, IP phones, wireless access points, and servers and also function as aggregators on LANs and WANs. The Company’s switching systems employ several used technologies, including Ethernet, Power over Ethernet, Fibre Channel over Ethernet (FCoE), Packet over Synchronous Optical Network and Multiprotocol Label Switching. Many of the company’s switches are designed to support an integrated set of advanced services, allowing organizations to be efficient by using one switch for multiple networking functions rather than multiple switches to accomplish the same functions. Key product platforms within company’s Switching product category, in which it also include storage products, comprises Fixed-Configuration Switches, Modular Switches and Storage.
Fixed-configuration switches are designed to cover a range of deployments in both large enterprises, as well as in small and medium-sized businesses, providing a foundation for converged data, voice and video services. The Company’s fixed configuration switches range from small, standalone switches to stackable models that function as a single, scalable switching unit. Modular switches are typically utilized by enterprise and service provider customers with large-scale network needs. These products are designed to deploy networking services without degrading overall network performance. Fixed-configuration and modular switches also include products, such as optics modules, which are shared across multiple product platforms. The Company’s switching portfolio also includes virtual switches and related offerings. These products provide switching functionality for virtual machines and are designed to operate in a complementary fashion with virtual services to optimize security and application behavior.
- Next-Generation Network (NGN) Routing
NGN technology is fundamental to the Internet. This technology interconnects public and private IP networks for mobile, data, voice, and video applications. This portfolio of hardware and software solutions consists primarily of physical and virtual routers and routing systems.
The Company offers a range of hardware and software solutions, from core network infrastructure for service providers and enterprises to access routers for branch offices and for telecommuters and consumers at home. Key product areas within NGN Routing category include High-End Routers, Midrange and Low-End Routers, and Other NGN Routing. The High-End Routers comprises Cisco Aggregation Services Routers (ASRs), which include Cisco ASR 901, 902, and 903 Series, Cisco ASR 1000 Series, Cisco ASR 5000 and 5500 Series, and Cisco ASR 9000 Series; Cisco Carrier Routing Systems (CRS), which include Cisco CRS-1 Carrier Router, Cisco CRS-3 Multishelf System, Cisco CRS-X and Cisco 7600 Series; Cisco Network Convergence System (NCS), which include Cisco NCS 2000 Series, Cisco NCS 4000 Series and Cisco NCS 6000 Series; Cisco Quantum Software Suite, and Small cell access routers. The Midrange and Low-End Routers comprises Cisco Integrated Services Routers (ISRs), which include Cisco 800 Series ISR, Cisco 1900 Series ISR, Cisco 2900 Series ISR, Cisco 3900 Series ISR and Cisco ISR-AX. The Other NGN Routing comprises Optical networking products, which include Cisco Cloud Services Router 1000V and other routing products.
- Service Provider Video
The Company’s end-to-end, digital video distribution systems and digital interactive set-top boxes enable service providers and content originators to deliver entertainment, information and communication services to consumers and businesses around the world.
Key product areas within its Service Provider Video category are Service Provider Video Infrastructure and Video Software and Solutions. Service Provider Video Infrastructure comprises Set-Top Boxes, which include IP set-top boxes, Digital cable set-top boxes and Digital transport adapters; Cable/Telecommunications Access, which include Cable modem termination systems (CMTS), Hybrid fiber coaxial (HFC) access network products and Quadrature amplitude modulation (QAM) products, and cable modems, which include data modems, embedded media terminal adapters and wireless gateways. The Video Software and Solutions comprises content security systems, digital content management products, digital headend products, digital media network products, integration and customization offerings and service provider video software solutions (Videoscape).
- Collaboration
The company’s collaboration portfolio integrates voice, video, data and mobile applications on fixed and mobile networks across a range of devices and related IT equipment that people use to access networks, such as mobile phones, tablets, desktop and laptop computers, and desktop virtualization clients. Key product areas within Collaboration category include Unified Communications, Web-Based Collaboration Offerings and Cisco TelePresence Systems. The Unified Communications comprises IP phones, Call center and messaging products, Call control, Software-based, IM clients, Communication gateways and unified communication applications and subscriptions. The Web-Based Collaboration Offerings include Cisco WebEx meeting server and Cisco WebEx meeting center. The Cisco TelePresence Systems include Immersive systems, Collaboration room endpoints, Cisco TelePresence server and video conferencing infrastructure, Cisco TelePresence integration solutions and Collaboration desk endpoints. It includes all the revenue from WebEx within the Collaboration product category.
- Data Center
The Cisco Unified Computing System (UCS) unites computing, networking, storage, management and virtualization into a single fabric-based platform designed to simplify operations and provide business agility through deployment and scaling of application infrastructure. UCS is specifically designed for virtualization and automation and enables on-demand provisioning from shared pools of infrastructure across physical and virtual environments. Key product areas within the Data Center product category include UCS, which comprises Cisco UCS B-Series Blade Servers, Cisco UCS C-Series Rack Servers, Cisco UCS Fabric Interconnects, Cisco UCS Manager and Cisco UCS Central Software, Cisco UCS Director, and Cisco UCS Invicta Series and Server Access Virtualization, which comprises Cisco Nexus 1000V and Cisco Nexus 1000V InterCloud.
- Wireless
The Company’s wireless solutions include wireless access points; standalone, switch-converged, and cloud-managed solutions; and network managed services. Its wireless solutions portfolio is enhanced with security and location-based services via its Mobility Services Engine (MSE) solution. The Company’s offerings provide users with simplified management and mobile device troubleshooting features designed to reduce operational cost and maximize flexibility and reliability. Key product areas within Wireless category include Cisco Aironet Series; Access point modules for 3600 Series (802.11ac, 3G, WSSI, LTE/4G) and 3700 Series; Controllers (standalone and integrated), and Meraki wireless cloud solutions.
- Security
The Company’s security portfolio of products and services offers a solution that collects and shares intelligence with a coordinated focus on threats across the entire attack continuum--before, during, and after an attack. These solutions include network security, web and email security, cloud web security, advanced malware protection, data center security, and network admission control and identity services. The Company’s security solutions and services are designed to protect customers from the network to the cloud to the endpoint, through a network-integrated architecture.
- Other Products
The Company’s other products category primarily consists of certain emerging technologies. It also includes other networking products.
- Service
The Company provides a range of service offerings, including technical support services and advanced services. Technical support services help its customers ensure their products operate and benefit from the up-to-date system and application software that it has developed. These services help customers protect their network investments, manage risk, and minimize downtime for systems running mission-critical applications. Advanced services are part of a program that is focused on providing responsive, preventive, and consultative support of its technologies for specific networking needs. The advanced services program supports networking devices, applications, solutions and complete infrastructures.
- 競爭者太多
The Company competes with Alcatel-Lucent, Amazon Web Services LLC, Arista Networks, Inc., ARRIS Group, Inc., Aruba Networks, Inc., Avaya Inc., Brocade Communications Systems, Inc., Check Point Software Technologies Ltd., Citrix Systems, Inc., Dell Inc., LM Ericsson Telephone Company, Extreme Networks, Inc., F5 Networks, Inc., FireEye, Inc., Fortinet, Inc., Hewlett-Packard Company, Huawei Technologies Co., Ltd., International Business Machines Corporation, Juniper Networks, Inc., Microsoft Corporation, Motorola Solutions, Inc., Palo Alto Networks, Inc., Polycom, Inc., Riverbed Technology, Inc., Ruckus Wireless, Inc., Symantec Corporation and VMware, Inc
- PROFITABILITY RATIOS
| Company | industry | sector | ||
|---|---|---|---|---|
| Gross Margin (TTM) | 60.38 | 32.59 | 40.03 | |
| Gross Margin - 5 Yr. Avg. | 60.51 | 31.02 | 40.70 | |
| EBITD Margin (TTM) | 27.86 | -- | -- | |
| EBITD - 5 Yr. Avg | 27.40 | 2.81 | 20.30 | |
| Operating Margin (TTM) | 21.91 | 6.72 | 9.83 | |
| Operating Margin - 5 Yr. Avg. | 20.94 | -2.28 | 12.56 | |
| Pre-Tax Margin (TTM) | 22.78 | 6.99 | 11.19 | |
| Pre-Tax Margin - 5 Yr. Avg. | 21.40 | -2.28 | 13.37 | |
| Net Profit Margin (TTM) | 18.27 | 5.26 | 7.51 | |
| Net Profit Margin - 5 Yr. Avg. | 17.66 | -4.10 | 9.35 | |
| Effective Tax Rate (TTM) | 19.82 | 17.14 | 24.74 | |
| Effective Tax Rate - 5 Yr. Avg. | 17.51 | 30.40 | 30.80 | |
- MANAGEMENT EFFECTIVENESS
| Company | industry | sector | ||
|---|---|---|---|---|
| Return on Assets (TTM) | 8.22 | 4.82 | 8.98 | |
| Return on Assets - 5 Yr. Avg. | 8.57 | 3.48 | 10.62 | |
| Return on Investment (TTM) | 10.26 | 8.01 | 12.34 | |
| Return on Investment - 5 Yr. Avg. | 10.77 | 5.60 | 14.57 | |
| Return on Equity (TTM) | 15.44 | 13.02 | 9.21 | |
| Return on Equity - 5 Yr. Avg. | 15.53 | 8.20 | 13.81 | |
- 總體來看這家公司是很不錯的,缺點就是同行太多.
總市值約 USD$1300億
本益比還不到 15倍.
OVERALL
| Beta: | 1.28 |
| Market Cap(Mil.): | $129,265.40 |
| Shares Outstanding(Mil.): | 5,061.29 |
| Dividend: | 0.21 |
| Yield (%): | 3.29 |
FINANCIALS
| CSCO.O | Industry | Sector | |
|---|---|---|---|
| P/E (TTM): | 14.63 | 25.57 | 15.66 |
| EPS (TTM): | 1.75 | -- | -- |
| ROI: | 10.26 | 8.01 | 12.34 |
| ROE: | 15.44 | 13.02 | 9.21 |
