Arista Networks Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	9,006	7,003	5,860	4,381	2,948
Revenue Growth (YoY)	28.60%	19.50%	33.76%	48.62%	27.21%
Cost of Revenue	3,237	2,512	2,230	1,706	1,067
Gross Profit	5,769	4,491	3,630	2,676	1,881
Selling, General & Admin	675.3	550	518.1	420.2	369.29
Research & Development	1,237	996.7	854.9	728.39	586.75
Operating Expenses	1,913	1,547	1,373	1,149	956.04
Operating Income	3,856	2,945	2,257	1,527	924.74
Interest & Investment Income	383.4	311	152.4	27.56	7.22
Other Non Operating Income (Expenses)	10.2	9.5	12.3	27.13	-1.08
EBT Excluding Unusual Items	4,250	3,265	2,422	1,582	930.88
Pretax Income	4,250	3,265	2,422	1,582	930.88
Income Tax Expense	738.3	413	334.7	229.35	90.03
Net Income	3,511	2,852	2,087	1,352	840.85
Net Income to Common	3,511	2,852	2,087	1,352	840.85
Net Income Growth	23.12%	36.64%	54.34%	60.84%	32.51%
Shares Outstanding (Basic)	1,258	1,256	1,237	1,226	1,226
Shares Outstanding (Diluted)	1,276	1,281	1,269	1,266	1,277
Shares Change (YoY)	-0.42%	0.99%	0.21%	-0.87%	0.43%
EPS (Basic)	2.79	2.27	1.69	1.10	0.69
EPS (Diluted)	2.75	2.23	1.65	1.07	0.66
EPS Growth	23.32%	35.15%	54.21%	62.74%	31.50%
Free Cash Flow	4,252	3,676	2,000	448.17	951.12
Free Cash Flow Per Share	3.33	2.87	1.58	0.35	0.74
Gross Margin	64.06%	64.13%	61.95%	61.07%	63.80%
Operating Margin	42.82%	42.05%	38.52%	34.86%	31.37%
Profit Margin	38.99%	40.73%	35.62%	30.87%	28.52%
Free Cash Flow Margin	47.22%	52.49%	34.12%	10.23%	32.26%
EBITDA	3,929	3,007	2,328	1,590	975.07
EBITDA Margin	43.63%	42.93%	39.72%	36.29%	33.07%
D&A For EBITDA	72.6	62	70.6	62.7	50.33
EBIT	3,856	2,945	2,257	1,527	924.74
EBIT Margin	42.82%	42.05%	38.52%	34.86%	31.37%
Effective Tax Rate	17.37%	12.65%	13.82%	14.50%	9.67%
Revenue as Reported	9,006	7,003	5,860	4,381	2,948

Source: S&P Global Market Intelligence. Standard template. Financial Sources.