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Arista Networks, Inc.(ANET)Earnings, Financials & Key Ratios
ANET•NYSE
61.7× P/E·Price updated Jun 19, 2026
AboutArista Networks, Inc. develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms. It also provides post contract customer support services, such as technical support, hardware repair and parts replacement beyond standard warranty, bug fix, patch, and upgrade services. The company serves a range of industries comprising internet companies, service providers, financial services organizations, government agencies, media and entertainment companies, and others. It markets and sells its products through distributors, system integrators, value-added resellers, and original equipment manufacturer partners, as well as through its direct sales force. The company was formerly known as Arastra, Inc. and changed its name to Arista Networks, Inc. in October 2008. Arista Networks, Inc. was incorporated in 2004 and is headquartered in Santa Clara, California.Show more
- Revenue$9.01B+28.6%
- EBITDA$3.93B+30.7%
- Net Income$3.51B+23.1%
- EPS (Diluted)2.75+23.3%
- Gross Margin64.06%-0.1%
- EBITDA Margin43.62%+1.6%
- Operating Margin42.82%+1.8%
- Net Margin38.99%-4.3%
- ROE31.4%-5.2%
ANET Key Insights
Arista Networks, Inc. (ANET) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Excellent 3Y average ROE of 33.0%
- ✓Strong 5Y profit CAGR of 40.8%
- ✓FCF machine: 47.2% free cash flow margin
- ✓High quality earnings: Operating CF exceeds net income
- ✓Strong 5Y sales CAGR of 31.2%
- ✓Healthy 5Y average net margin of 34.9%
✗Weaknesses
- ✗Expensive at 17.5x book value
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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ANET Price & Volume
Arista Networks, Inc. (ANET) stock price & volume — 10-year historical chart
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ANET Growth Metrics
Arista Networks, Inc. (ANET) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years26.81%
5 Years31.19%
3 Years27.15%
TTM30.57%
Profit CAGR
10 Years40.03%
5 Years40.8%
3 Years37.44%
TTM22.86%
EPS CAGR
10 Years39.29%
5 Years40.63%
3 Years36.98%
TTM23.73%
Return on Capital
10 Years25.5%
5 Years29.19%
3 Years31.4%
Last Year30.38%
ANET Recent Earnings
Arista Networks, Inc. (ANET) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 11/12 qtrs (92%)
Q2 2026Latest
May 5, 2026Metric
Actual
Est
EPS
$0.87+7.7%
$0.81
Rev
$2.7B+3.4%
$2.6B
Q1 2026
Feb 12, 2026Metric
Actual
Est
EPS
$0.82+8.2%
$0.76
Rev
$2.5B+4.3%
$2.4B
Q4 2025
Nov 4, 2025Metric
Actual
Est
EPS
$0.75+4.5%
$0.72
Rev
$2.3B+1.9%
$2.3B
Q3 2025
Aug 5, 2025Metric
Actual
Est
EPS
$0.73+12.5%
$0.65
Rev
$2.2B+4.6%
$2.1B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 5, 2026 | $0.87vs $0.81+7.7% | $2.7Bvs $2.6B+3.4% |
| Q1 2026 | Feb 12, 2026 | $0.82vs $0.76+8.2% | $2.5Bvs $2.4B+4.3% |
| Q4 2025 | Nov 4, 2025 | $0.75vs $0.72+4.5% | $2.3Bvs $2.3B+1.9% |
| Q3 2025 | Aug 5, 2025 | $0.73vs $0.65+12.5% | $2.2Bvs $2.1B+4.6% |
Based on last 12 quarters of dataView full earnings history →
ANET Peer Comparison
Arista Networks, Inc. (ANET) competitors in Networking and Connectivity Hardware — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CSCO | 471.16B | 119.54 | 46.88 | 5.3% | 19.69% | 25.14% | 0.60 | |
 EXTR | 4.21B | 31.38 | -556.38 | 2.05% | 1.3% | 21.07% | 3.41 | |
 CIEN | 60.62B | 428.22 | 503.79 | 18.79% | 7.87% | 15.65% | 0.58 | |
 NTGR | 630.27M | 23.05 | -20.22 | 2.91% | -5.77% | -7.97% | 0.10 | |
 HPE | 62.78B | 47.41 | -1063.00 | 14.06% | 3.9% | 6.11% | 0.97 | |
 DELL | 272.34B | 410.00 | 47.24 | 18.8% | 6.28% | |||
 FFIV | 21.79B | 385.49 | 32.67 | 9.66% | 21.96% | 19.88% | 0.14 | |
 CALX | 2.45B | 37.95 | 145.96 | 20.26% | 3.2% | 4.25% | 0.03 |
Compare ANET vs Peers
Arista Networks, Inc. (ANET) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
ANET Income Statement
Arista Networks, Inc. (ANET) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 1.65B | 2.15B | 2.41B | 2.32B | 2.95B | 4.38B | 5.86B | 7B | 9.01B | 9.71B |
Revenue Growth % | 45.79% | 30.69% | 12.05% | -3.87% | 27.21% | 48.62% | 33.75% | 19.5% | 28.6% | 30.57% |
Cost of Goods Sold | 584.42M | 777.99M | 866.37M | 835.63M | 1.07B | 1.71B | 2.23B | 2.51B | 3.24B | 3.54B |
COGS % of Revenue | 35.5% | 36.16% | 35.94% | 36.06% | 36.2% | 38.93% | 38.05% | 35.87% | 35.94% | - |
Gross Profit | 1.06B▲ 0% | 1.37B▲ 29.3% | 1.54B▲ 12.4% | 1.48B▼ 4.0% | 1.88B▲ 26.9% | 2.68B▲ 42.3% | 3.63B▲ 35.7% | 4.49B▲ 23.7% | 5.77B▲ 28.4% | 6.17B▲ 0% |
Gross Margin % | 64.5% | 63.84% | 64.06% | 63.94% | 63.8% | 61.07% | 61.95% | 64.13% | 64.06% | 63.54% |
Gross Profit Growth % | 46.83% | 29.35% | 12.45% | -4.04% | 26.92% | 42.27% | 35.68% | 23.72% | 28.44% | - |
Operating Expenses | 591.5M | 1.1B | 738.56M | 782.2M | 956.04M | 1.15B | 1.37B | 1.55B | 1.91B | 2.01B |
OpEx % of Revenue | 35.93% | 51.13% | 30.64% | 33.75% | 32.43% | 26.22% | 23.43% | 22.09% | 21.24% | - |
Selling, General & Admin | 241.9M | 252.56M | 275.81M | 295.61M | 369.29M | 420.2M | 518.11M | 550M | 675.3M | 699.7M |
SG&A % of Revenue | 14.69% | 11.74% | 11.44% | 12.76% | 12.53% | 9.59% | 8.84% | 7.85% | 7.5% | - |
Research & Development | 349.59M | 442.47M | 462.76M | 486.59M | 586.75M | 728.39M | 854.92M | 996.7M | 1.24B | 1.31B |
R&D % of Revenue | 21.24% | 20.57% | 19.2% | 21% | 19.9% | 16.63% | 14.59% | 14.23% | 13.74% | - |
Other Operating Expenses | 0 | 405M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Operating Income | 470.27M▲ 0% | 273.35M▼ 41.9% | 805.77M▲ 194.8% | 699.68M▼ 13.2% | 924.74M▲ 32.2% | 1.53B▲ 65.1% | 2.26B▲ 47.8% | 2.94B▲ 30.5% | 3.86B▲ 31.0% | 4.16B▲ 0% |
Operating Margin % | 28.57% | 12.71% | 33.42% | 30.19% | 31.37% | 34.86% | 38.52% | 42.05% | 42.82% | 42.79% |
Operating Income Growth % | 93.2% | -41.87% | 194.78% | -13.17% | 32.17% | 65.14% | 47.81% | 30.45% | 30.95% | - |
EBITDA | 490.91M | 301.02M | 838.62M | 734.84M | 975.07M | 1.59B | 2.33B | 3.01B | 3.93B | 4.21B |
EBITDA Margin % | 29.82% | 13.99% | 34.79% | 31.71% | 33.08% | 36.29% | 39.72% | 42.93% | 43.62% | 43.4% |
EBITDA Growth % | 86.55% | -38.68% | 178.6% | -12.38% | 32.69% | 63.04% | 46.43% | 29.16% | 30.67% | 31.53% |
D&A (Non-Cash Add-back) | 20.64M | 27.67M | 32.85M | 35.16M | 50.33M | 62.7M | 70.63M | 62M | 72.6M | 58.8M |
EBIT | 477.54M | 291.5M | 805.77M | 699.68M | 924.74M | 1.53B | 2.26B | 2.94B | 3.86B | 4.16B |
Net Interest Income | 5.31M | 28.96M | 51.14M | 27.14M | 7.21M | 27.56M | 152.42M | 311M | 383.4M | 402.4M |
Interest Income | 8.09M | 31.67M | 51.14M | 27.14M | 7.21M | 27.56M | 152.42M | 311M | 383.4M | 402.4M |
Interest Expense | 2.78M | 2.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Income/Expense | 4.49M | 15.45M | 56.5M | 39.18M | 6.14M | 54.69M | 164.78M | 320.5M | 393.6M | 411M |
Pretax Income | 474.76M▲ 0% | 288.8M▼ 39.2% | 862.27M▲ 198.6% | 738.86M▼ 14.3% | 930.88M▲ 26.0% | 1.58B▲ 69.9% | 2.42B▲ 53.1% | 3.27B▲ 34.8% | 4.25B▲ 30.2% | 4.57B▲ 0% |
Pretax Margin % | 28.84% | 13.42% | 35.77% | 31.88% | 31.58% | 36.1% | 41.33% | 46.62% | 47.19% | 47.03% |
Income Tax | 51.56M | -39.31M | 2.4M | 104.31M | 90.03M | 229.35M | 334.7M | 413M | 738.3M | 845.6M |
Effective Tax Rate % | 10.86% | -13.61% | 0.28% | 14.12% | 9.67% | 14.5% | 13.82% | 12.65% | 17.37% | 18.52% |
Net Income | 423.2M▲ 0% | 328.12M▼ 22.5% | 859.87M▲ 162.1% | 634.56M▼ 26.2% | 840.85M▲ 32.5% | 1.35B▲ 60.8% | 2.09B▲ 54.3% | 2.85B▲ 36.6% | 3.51B▲ 23.1% | 3.72B▲ 0% |
Net Margin % | 25.71% | 15.25% | 35.67% | 27.38% | 28.52% | 30.87% | 35.62% | 40.73% | 38.99% | 38.32% |
Net Income Growth % | 129.76% | -22.47% | 162.06% | -26.2% | 32.51% | 60.84% | 54.34% | 36.64% | 23.12% | 22.86% |
Net Income (Continuing) | 423.2M | 328.12M | 859.87M | 634.56M | 840.85M | 1.35B | 2.09B | 2.85B | 3.51B | 3.72B |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | 0.33▲ 0% | 0.25▼ 23.2% | 0.66▲ 160.4% | 0.50▼ 24.2% | 0.66▲ 32.0% | 1.07▲ 62.1% | 1.65▲ 54.2% | 2.23▲ 35.2% | 2.75▲ 23.3% | 2.92▲ 0% |
EPS Growth % | 106.25% | -23.18% | 160.35% | -24.24% | 32% | 62.12% | 54.21% | 35.15% | 23.32% | 23.73% |
EPS (Basic) | 0.37 | 0.27 | 0.70 | 0.52 | 0.69 | 1.10 | 1.69 | 2.27 | 2.79 | - |
Diluted Shares Outstanding | 1.26B | 1.29B | 1.29B | 1.27B | 1.28B | 1.27B | 1.27B | 1.28B | 1.28B | 1.27B |
Basic Shares Outstanding | 1.16B | 1.2B | 1.22B | 1.22B | 1.23B | 1.23B | 1.24B | 1.26B | 1.26B | 1.26B |
Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
ANET Balance Sheet
Arista Networks, Inc. (ANET) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Current Assets | 2.27B | 2.71B | 3.47B | 3.84B | 4.81B | 5.55B | 8.4B | 11.91B | 16.39B | 18.56B |
Cash & Short-Term Investments | 1.54B | 1.96B | 2.72B | 2.87B | 3.41B | 3.02B | 5.01B | 8.3B | 10.74B | 12.35B |
Cash Only | 859.19M | 649.95M | 1.11B | 893.22M | 620.81M | 671.71M | 1.94B | 2.76B | 1.96B | 2.79B |
Short-Term Investments | 676.36M | 1.31B | 1.61B | 1.98B | 2.79B | 2.35B | 3.07B | 5.54B | 8.78B | 9.56B |
Accounts Receivable | 247.35M | 331.78M | 391.99M | 389.54M | 516.51M | 923.1M | 1.03B | 1.14B | 1.89B | 1.92B |
Days Sales Outstanding | 54.84 | 56.29 | 59.35 | 61.35 | 63.95 | 76.9 | 64.43 | 59.44 | 76.48 | 65.07 |
Inventory | 306.2M | 264.56M | 243.82M | 479.67M | 650.12M | 1.29B | 1.95B | 1.83B | 2.25B | 2.38B |
Days Inventory Outstanding | 191.24 | 124.12 | 102.72 | 209.52 | 222.34 | 276 | 318.4 | 266.59 | 253.38 | 227.88 |
Other Current Assets | 96.22M | 95.73M | 64.46M | 60.56M | 172.89M | 0 | 0 | 632.29M | 1.51B | 1.9B |
Total Non-Current Assets | 194.43M | 367.18M | 713.65M | 901.92M | 921.75M | 1.22B | 1.56B | 2.13B | 3.06B | 3.1B |
Property, Plant & Equipment | 74.28M | 75.36M | 127.04M | 109.52M | 143.82M | 95.01M | 101.58M | 98.84M | 203.1M | 250.3M |
Fixed Asset Turnover | 22.16x | 28.55x | 18.98x | 21.16x | 20.50x | 46.11x | 57.69x | 70.85x | 44.34x | 49.90x |
Goodwill | 0 | 53.68M | 54.85M | 189.7M | 188.4M | 265.92M | 268.53M | 268.53M | 416.1M | 416.1M |
Intangible Assets | 0 | 58.61M | 45.23M | 122.79M | 93.56M | 122.2M | 88.77M | 62.01M | 0 | 0 |
Long-Term Investments | 36.14M | 30.34M | 4.15M | 8.31M | 20.25M | 39.47M | 0 | 0 | 0 | 0 |
Other Non-Current Assets | 18.89M | 22.7M | 30.35M | 30.07M | 33.44M | 127.14M | 151.9M | 263.3M | 668.8M | 546.2M |
Total Assets | 2.46B▲ 0% | 3.08B▲ 25.2% | 4.19B▲ 35.8% | 4.74B▲ 13.2% | 5.73B▲ 21.0% | 6.78B▲ 18.2% | 9.96B▲ 47.0% | 14.04B▲ 41.1% | 19.45B▲ 38.5% | 21.66B▲ 0% |
Asset Turnover | 0.67x | 0.70x | 0.58x | 0.49x | 0.51x | 0.65x | 0.59x | 0.50x | 0.46x | 0.51x |
Asset Growth % | 42.33% | 25.24% | 35.8% | 13.23% | 21.01% | 18.15% | 46.95% | 41.05% | 38.48% | 170.43% |
Total Current Liabilities | 529.9M | 606.5M | 597.07M | 768.24M | 1.11B | 1.29B | 1.92B | 2.73B | 5.38B | 6.56B |
Accounts Payable | 52.2M | 93.76M | 92.11M | 134.24M | 202.64M | 232.57M | 435.06M | 381.08M | 651.7M | 608.4M |
Days Payables Outstanding | 32.6 | 43.99 | 38.8 | 58.63 | 69.3 | 49.77 | 71.21 | 55.38 | 73.48 | 58.89 |
Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Deferred Revenue (Current) | 327.71M | 358.59M | 312.67M | 396.26M | 593.58M | 637.43M | 915.2M | 1.73B | 4B | 15.22B |
Other Current Liabilities | 16.17M | 30.91M | 52.05M | 94.39M | 86.97M | 248.09M | 296.1M | 336.43M | 722.2M | 1.04B |
Current Ratio | 4.28x | 4.48x | 5.81x | 4.99x | 4.34x | 4.29x | 4.38x | 4.36x | 3.05x | 2.83x |
Quick Ratio | 3.70x | 4.04x | 5.41x | 4.37x | 3.75x | 3.29x | 3.36x | 3.69x | 2.63x | 2.47x |
Cash Conversion Cycle | 213.48 | 136.42 | 123.27 | 212.24 | 216.99 | 303.13 | 311.61 | 270.65 | 256.37 | 234.06 |
Total Non-Current Liabilities | 269.04M | 332.09M | 693.53M | 650.38M | 646M | 596.06M | 818.14M | 1.32B | 1.7B | 1.61B |
Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Capital Lease Obligations | 37.67M | 35.43M | 83.02M | 72.4M | 56.53M | 43.96M | 0 | 0 | 0 | 0 |
Deferred Tax Liabilities | 0 | 3.75M | 254.71M | 227.94M | 129.07M | 42K | 0 | 0 | 0 | 0 |
Other Non-Current Liabilities | 43.81M | 64.27M | 93.18M | 95.48M | 124.67M | 148.24M | 227.14M | 252.76M | 331.8M | 1.61B |
Total Liabilities | 798.95M | 938.59M | 1.29B | 1.42B | 1.76B | 1.89B | 2.74B | 4.05B | 7.08B | 8.17B |
Total Debt | 37.67M | 35.43M | 83.02M | 72.4M | 56.53M | 43.96M | 0 | 0 | 0 | 0 |
Net Debt | -821.52M | -614.52M | -1.03B | -820.82M | -564.29M | -627.74M | -1.94B | -2.76B | -1.96B | -2.79B |
Debt / Equity | 0.02x | 0.02x | 0.03x | 0.02x | 0.01x | 0.01x | - | - | - | 0.00x |
Debt / EBITDA | 0.08x | 0.12x | 0.10x | 0.10x | 0.06x | 0.03x | - | - | - | 0.00x |
Net Debt / EBITDA | -1.67x | -2.04x | -1.23x | -1.12x | -0.58x | -0.39x | -0.83x | -0.92x | -0.50x | -0.66x |
Interest Coverage | 171.78x | 107.92x | - | - | - | - | - | - | - | - |
Total Equity | 1.66B▲ 0% | 2.14B▲ 29.0% | 2.89B▲ 35.1% | 3.32B▲ 14.7% | 3.98B▲ 19.8% | 4.89B▲ 22.8% | 7.22B▲ 47.8% | 9.99B▲ 38.5% | 12.37B▲ 23.8% | 13.49B▲ 0% |
Equity Growth % | 50.02% | 28.97% | 35.05% | 14.7% | 19.83% | 22.8% | 47.76% | 38.45% | 23.77% | 115.14% |
Book Value per Share | 1.32 | 1.66 | 2.24 | 2.61 | 3.12 | 3.86 | 5.69 | 7.80 | 9.70 | 10.59 |
Total Shareholders' Equity | 1.66B | 2.14B | 2.89B | 3.32B | 3.98B | 4.89B | 7.22B | 9.99B | 12.37B | 13.49B |
Common Stock | 7K | 8K | 8K | 8K | 31K | 31K | 125K | 126K | 100K | 100K |
Retained Earnings | 859.11M | 1.19B | 1.79B | 2.03B | 2.46B | 3.14B | 5.11B | 7.54B | 9.45B | 10.47B |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | -1.94M | -3.99M | 143K | 238K | -8.3M | -33.91M | -3.33M | -13.19M | 12M | -19.3M |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
ANET Cash Flow Statement
Arista Networks, Inc. (ANET) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 631.63M | 503.12M | 963.03M | 735.11M | 1.02B | 492.81M | 2.03B | 3.71B | 4.37B | 5.42B |
Operating CF Margin % | 38.37% | 23.39% | 39.95% | 31.72% | 34.46% | 11.25% | 34.71% | 52.95% | 48.55% | - |
Operating CF Growth % | 380.54% | -20.35% | 91.41% | -23.67% | 38.19% | -51.49% | 312.74% | 82.31% | 17.9% | 215.63% |
Net Income | 423.2M | 328.12M | 859.87M | 634.56M | 840.85M | 1.35B | 2.09B | 2.85B | 3.51B | 3.72B |
Depreciation & Amortization | 20.64M | 27.67M | 32.85M | 44.59M | 50.33M | 62.7M | 70.63M | 62.04M | 72.6M | 82.1M |
Stock-Based Compensation | 75.43M | 91.2M | 101.28M | 137.04M | 186.88M | 230.93M | 296.76M | 355.36M | 439.2M | 467.1M |
Deferred Taxes | 8.43M | -57.9M | -75.74M | -9.14M | -99.29M | -244.38M | -370.8M | -492.87M | -312M | -309.8M |
Other Non-Cash Items | 1.45M | 10.44M | 3.98M | 13.76M | 43.96M | 3.94M | -33.98M | -53.53M | -27.1M | -18.4M |
Working Capital Changes | 102.48M | 103.59M | 40.8M | -85.69M | -6.88M | -912.82M | -15.92M | 985.18M | 687.8M | 1.48B |
Change in Receivables | 5.77M | -77.92M | -60.21M | 10.67M | -126.97M | -401.95M | -105.93M | -106.08M | -746.4M | -487.9M |
Change in Inventory | -69.71M | 51.05M | 20.93M | -235.32M | -170.45M | -638.95M | -655.47M | 110.61M | -412.5M | -422.8M |
Change in Payables | -30.1M | 39.34M | -1.94M | 41.16M | 66.68M | 31.44M | 198.61M | -51.63M | 260.5M | 218.2M |
Cash from Investing | -392.58M | -755.11M | -284.07M | -608.8M | -925.56M | 216.33M | -687.45M | -2.46B | -3.58B | -3.68B |
Capital Expenditures | -15.28M | -23.83M | -15.75M | -15.38M | -64.74M | -44.64M | -34.43M | -32.03M | -119.5M | -145.6M |
CapEx % of Revenue | 0.93% | 1.11% | 0.65% | 0.66% | 2.2% | 1.02% | 0.59% | 0.46% | 1.33% | 1.5% |
Acquisitions | 0 | -104.82M | 26.86M | -224.02M | -19.93M | -145.09M | 1.8M | 0 | -300M | -300M |
Investments | - | - | - | - | - | - | - | - | - | - |
Other Investing | 1.74M | 0 | 0 | 0 | 1.3M | -12.69M | -3.16M | -6.63M | 14.9M | 19.9M |
Cash from Financing | 51.47M | 42.85M | -217.96M | -346.34M | -360.88M | -654.6M | -83.75M | -421.81M | -1.6B | -802.1M |
Debt Issued (Net) | -1.62M | -1.93M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Equity Issued (Net) | 57.11M | 53.66M | -208.76M | -337.62M | -344.4M | -621.88M | -50.19M | -363.44M | -1.55B | -782.7M |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | -266.14M | -395.17M | -411.64M | -670.29M | -112.28M | -423.62M | -1.6B | -842.2M |
Other Financing | -4.03M | -8.88M | -9.2M | -8.72M | -16.48M | -32.73M | -33.56M | -58.37M | -50.5M | -19.4M |
Net Change in Cash | 291.27M▲ 0% | -210.53M▼ 172.3% | 461.35M▲ 319.1% | -218.06M▼ 147.3% | -272.4M▼ 24.9% | 50.93M▲ 118.7% | 1.26B▲ 2380.9% | 824.3M▼ 34.8% | -798.5M▼ 196.9% | 944.4M▲ 0% |
Free Cash Flow | 616.35M▲ 0% | 479.29M▼ 22.2% | 947.28M▲ 97.6% | 719.73M▼ 24.0% | 951.12M▲ 32.1% | 448.17M▼ 52.9% | 2B▲ 346.2% | 3.68B▲ 83.8% | 4.25B▲ 15.7% | 5.28B▲ 0% |
FCF Margin % | 37.44% | 22.28% | 39.29% | 31.06% | 32.26% | 10.23% | 34.12% | 52.49% | 47.22% | 54.36% |
FCF Growth % | 460.21% | -22.24% | 97.64% | -24.02% | 32.15% | -52.88% | 346.17% | 83.85% | 15.67% | 39.44% |
FCF per Share | 0.49 | 0.37 | 0.73 | 0.57 | 0.74 | 0.35 | 1.58 | 2.87 | 3.33 | 4.14 |
FCF Conversion (FCF/Net Income) | 1.49x | 1.53x | 1.12x | 1.16x | 1.21x | 0.36x | 0.97x | 1.30x | 1.25x | 1.42x |
Interest Paid | 2.81M | 2.69M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Taxes Paid | 44.22M | 17.57M | 32.83M | 82.6M | 189.77M | 427.85M | 686.15M | 970.64M | 0 | 0 |
ANET Key Ratios
Arista Networks, Inc. (ANET) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | 30.56% | 17.25% | 34.13% | 20.42% | 23.04% | 30.51% | 34.49% | 33.14% | 31.4% | 30.58% |
Return on Invested Capital (ROIC) | 49.68% | 17.31% | 35.6% | 24.04% | 23.46% | 29.86% | 35.5% | 35.3% | 32.79% | 31.67% |
Gross Margin | 64.5% | 63.84% | 64.06% | 63.94% | 63.8% | 61.07% | 61.95% | 64.13% | 64.06% | 63.54% |
Net Margin | 25.71% | 15.25% | 35.67% | 27.38% | 28.52% | 30.87% | 35.62% | 40.73% | 38.99% | 38.32% |
Debt / Equity | 0.02x | 0.02x | 0.03x | 0.02x | 0.01x | 0.01x | - | - | - | 0.00x |
Interest Coverage | 171.78x | 107.92x | - | - | - | - | - | - | - | - |
FCF Conversion | 1.49x | 1.53x | 1.12x | 1.16x | 1.21x | 0.36x | 0.97x | 1.30x | 1.25x | 1.42x |
Revenue Growth | 45.79% | 30.69% | 12.05% | -3.87% | 27.21% | 48.62% | 33.75% | 19.5% | 28.6% | 30.57% |
Related:ANET Dividend History·ANET Revenue History·ANET Price History·ANET P/E History·ANET Financial Ratios·ANET Institutional Holders
ANET SEC Filings & Documents
Arista Networks, Inc. (ANET) SEC filings — annual & quarterly reports (10-K, 10-Q)
ANET Frequently Asked Questions
Arista Networks, Inc. (ANET) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Arista Networks, Inc. (ANET) reported $9.71B in revenue for fiscal year 2025. This represents a 4920% increase from $193.4M in 2012.
Arista Networks, Inc. (ANET) grew revenue by 28.6% over the past year. This is strong growth.
Yes, Arista Networks, Inc. (ANET) is profitable, generating $3.72B in net income for fiscal year 2025 (39.0% net margin).
Dividend & Returns
Arista Networks, Inc. (ANET) has a return on equity (ROE) of 31.4%. This is excellent, indicating efficient use of shareholder capital.
Arista Networks, Inc. (ANET) generated $5.28B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.