Arista Networks, Inc. financials

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ANET CIK 0001596532

Source: EDGAR filings · Built 2026-06-02T02:20:20Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Free Cash Flow 4.25B 3.68B 2.00B 448.17M 951.12M 719.73M
EBITDA 3.93B 3.01B 2.33B 1.59B 975.07M 734.84M
Working Capital 11.01B 9.18B 6.48B 4.26B 3.70B 3.07B
Net Debt — -2.70B -1.87B -607.87M -543.99M -803.05M
Gross Margin 64.06% 64.13% 61.95% 61.07% 63.80% 63.94%
Operating Margin 42.82% 42.05% 38.52% 34.85% 31.37% 30.19%
Net Margin 38.99% 40.73% 35.62% 30.87% 28.52% 27.38%
Return on Equity (ROE) 28.39% 28.54% 28.91% 27.68% 21.13% 19.11%
Return on Assets (ROA) 18.05% 20.31% 20.96% 19.96% 14.66% 13.39%
Current Ratio 3.05× 4.36× 4.38× 4.29× 4.34× 4.99×
Debt-to-Equity — 0.01× 0.01× 0.01× 0.02× 0.03×
Effective Tax Rate 17.37% 12.65% 13.82% 14.50% 9.67% 14.12%
Cash Conversion Ratio 1.25× 1.30× 0.97× 0.36× 1.21× 1.16×
Accruals Ratio -0.04× -0.06× 0.01× 0.13× -0.03× -0.02×
SBC % of Revenue 4.88% 5.07% 5.06% 5.27% 6.34% 5.91%
CapEx Coverage 36.58× 115.88× 59.13× 11.04× 15.69× 47.78×
Free Cash Flow Per Share $3.33 $2.87 $1.58 $0.35 $2.98 $2.26

Valuation Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
P/E Trailing (Diluted) 47.65× 49.56× 35.68× 28.35× 54.66× 36.32×
P/FCF 39.31× 38.52× 37.35× 85.67× 48.25× 32.08×
FCF Yield 2.54% 2.60% 2.68% 1.17% 2.07% 3.12%
EV / EBITDA 41.41× 45.47× 125.55× 23.04× 44.80× 119.39×
P/S 18.28× 19.91× 50.19× 8.50× 15.00× 38.20×
P/B 13.31× 13.95× 40.75× 7.62× 11.12× 26.66×

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue from Contract with Customer, Excluding Assessed Tax 9.01B 7.00B 5.86B 4.38B 2.95B 2.32B
Cost of Goods and Services Sold 3.24B 2.51B 2.23B 1.71B 1.07B 835.63M
Gross Profit 5.77B 4.49B 3.63B 2.68B 1.88B 1.48B
Research and Development Expense 1.24B 996.70M 854.90M 728.39M 586.75M 486.59M
Operating Expenses 1.91B 1.55B 1.37B 1.15B 956.04M 782.20M
Operating Income (Loss) 3.86B 2.94B 2.26B 1.53B 924.74M 699.68M
Income Tax Expense (Benefit) 738.30M 413.00M 334.70M 229.35M 90.03M 104.31M
Net Income (Loss) Attributable to Parent 3.51B 2.85B 2.09B 1.35B 840.85M 634.56M
Earnings Per Share, Basic $2.79 $2.27 $1.69 $1.10 $2.74 $2.09
Weighted Average Number of Shares Outstanding, Basic 1.26B 1.26B 1.24B 1.23B 306.51M 303.94M
Earnings Per Share, Diluted $2.75 $2.23 $1.65 $1.07 $2.63 $2.00
Weighted Average Number of Shares Outstanding, Diluted 1.28B 1.28B 1.27B 1.27B 319.24M 317.86M

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value 1.96B 2.76B 1.94B 671.71M 620.81M 893.22M
Assets, Current 16.39B 11.91B 8.40B 5.55B 4.81B 3.84B
Assets 19.45B 14.04B 9.96B 6.78B 5.73B 4.74B
Liabilities, Current 5.38B 2.73B 1.92B 1.29B 1.11B 768.24M
Liabilities 7.08B 4.05B 2.74B 1.89B 1.76B 1.42B
Stockholders' Equity Attributable to Parent 12.37B 9.99B 7.22B 4.89B 3.98B 3.32B
Common Stock, Shares, Outstanding 1.26B 1.26B 1.25B 306.89M 307.68M 304.70M

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Net Cash Provided by (Used in) Operating Activities 4.37B 3.71B 2.03B 492.81M 1.02B 735.11M
Net Cash Provided by (Used in) Investing Activities -3.58B -2.46B -687.50M 216.33M -925.56M -608.80M
Payments for Repurchase of Common Stock 1.60B 423.60M 112.30M 670.29M 411.64M 395.17M
Net Cash Provided by (Used in) Financing Activities -1.60B -421.80M -83.80M -654.60M -360.88M -346.34M

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

Most recent filing shown by default.

Compare filings side-by-side

Diff any two filings with deltas and added / removed tags.

Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

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Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (ANET CIK 0001596532), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.

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