Arista Networks, Inc. (ANET)

NYSE: ANET · Real-Time Price · USD

185.02

-1.15 (-0.62%)

At close: Nov 10, 2026, 4:00 PM EST

195.13

+10.11 (5.46%)

Pre-market: Nov 11, 2026, 7:05 AM EST

Arista Networks Financials Overview

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

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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	11,890	9,006	7,003	5,860	4,381	2,948
Revenue Growth	40.74%	28.60%	19.50%	33.76%	48.62%	27.21%
Gross Profit	7,477	5,769	4,491	3,630	2,676	1,881
Operating Income	5,211	3,856	2,945	2,257	1,527	924.74
Net Income	4,752	3,511	2,852	2,087	1,352	840.85
Earnings Per Share	3.73	2.75	2.23	1.65	1.07	0.66
EPS Growth	41.85%	23.32%	35.15%	54.21%	62.74%	31.50%

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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
Product	10,202	7,577	5,884	5,029	3,716	2,378
Service	1,688	1,429	1,119	830.68	665.23	570.31
Revenue (Total)	11,890	9,006	7,003	5,860	4,381	2,948

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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
Cash & Investments	14,359	10,743	8,304	5,008	3,024	3,408
Total Debt	-	90.5	-	65.52	63.84	76.83
Net Cash (Debt)	14,359	10,653	8,304	4,942	2,960	3,331
Net Cash Growth	42.08%	28.29%	68.00%	66.98%	-11.15%	19.72%
Net Cash Per Share	11.25	8.35	6.48	3.90	2.34	2.61

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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
Operating Cash Flow	5,239	4,372	3,708	2,034	492.81	1,016
Capital Expenditures	-221.9	-119.5	-32	-34.4	-44.64	-64.74
Free Cash Flow	5,017	4,252	3,676	2,000	448.17	951.12
Free Cash Flow Growth	24.01%	15.67%	83.85%	346.17%	-52.88%	32.15%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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
Gross Margin	62.88%	64.06%	64.13%	61.95%	61.07%	63.80%
Operating Margin	43.83%	42.82%	42.05%	38.52%	34.86%	31.37%
Pretax Margin	49.02%	47.19%	46.62%	41.33%	36.10%	31.58%
Profit Margin	39.97%	38.99%	40.73%	35.62%	30.87%	28.52%
FCF Margin	42.20%	47.22%	52.49%	34.12%	10.23%	32.26%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '26 Nov 11, 2026	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
PE Ratio	49.60	46.99	48.82	35.10	27.42	52.53
Forward PE	32.70	40.86	46.87	33.56	23.53	44.18
P/FCF Ratio	46.59	38.80	37.88	36.64	82.74	46.44
PS Ratio	19.66	18.32	19.88	12.50	8.46	14.98