Arista Networks Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	3,357	2,852	2,087	1,352	840.85	634.56
Depreciation & Amortization	48.36	45.26	70.63	62.7	50.33	35.16
Other Amortization	16.78	16.78	-	-	-	-
Loss (Gain) From Sale of Investments	-60.47	-60.47	-33.52	12.77	26.85	6.22
Stock-Based Compensation	406.86	355.36	296.76	230.93	186.88	137.04
Other Operating Activities	-292.54	-485.94	-371.26	-253.21	-82.18	7.83
Change in Accounts Receivable	-358.48	-106.08	-105.93	-401.95	-126.97	10.67
Change in Inventory	-385.69	110.61	-655.47	-638.95	-170.45	-235.32
Change in Accounts Payable	188.47	-51.64	198.61	31.44	66.68	41.16
Change in Unearned Revenue	2,050	1,285	464.96	98.96	278.49	50.35
Change in Income Taxes	-231.5	-66.5	20.17	44.03	-2.59	28.62
Change in Other Net Operating Assets	-597.22	-186.42	61.75	-46.34	-52.04	18.83
Operating Cash Flow	4,141	3,708	2,034	492.81	1,016	735.11
Operating Cash Flow Growth	29.25%	82.31%	312.74%	-51.49%	38.19%	-23.67%
Capital Expenditures	-94.93	-32.03	-34.43	-44.64	-64.74	-15.38
Cash Acquisitions	-300	-	1.8	-145.09	1.3	-227.42
Investment in Securities	-3,482	-2,419	-651.66	418.75	-862.13	-366
Other Investing Activities	-10.03	-6.63	-3.16	-12.69	-	-
Investing Cash Flow	-3,887	-2,457	-687.45	216.33	-925.56	-608.8
Issuance of Common Stock	61.58	60.18	62.09	48.41	67.25	57.56
Repurchase of Common Stock	-1,162	-481.99	-145.84	-703.01	-428.13	-403.9
Financing Cash Flow	-1,100	-421.81	-83.75	-654.6	-360.88	-346.34
Foreign Exchange Rate Adjustments	-1.97	-4.77	0.68	-3.61	-1.82	1.97
Net Cash Flow	-848.5	824.3	1,263	50.93	-272.4	-218.06
Free Cash Flow	4,046	3,676	2,000	448.17	951.12	719.73
Free Cash Flow Growth	27.31%	83.85%	346.17%	-52.88%	32.15%	-24.02%
Free Cash Flow Margin	47.89%	52.49%	34.12%	10.23%	32.26%	31.06%
Free Cash Flow Per Share	3.17	2.87	1.58	0.35	0.74	0.57
Cash Income Tax Paid	970.64	970.64	686.16	427.85	189.77	82.6
Levered Free Cash Flow	3,269	2,822	1,503	264.9	649.26	549.33
Unlevered Free Cash Flow	3,269	2,822	1,503	264.9	649.26	549.33
Change in Working Capital	665.38	985.18	-15.92	-912.82	-6.88	-85.69

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