Arista Networks, Inc. (ANET)

NYSE: ANET · Real-Time Price · USD

173.99

-2.62 (-1.48%)

At close: Jul 24, 2026, 4:00 PM EDT

173.75

-0.24 (-0.14%)

After-hours: Jul 24, 2026, 7:58 PM EDT

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	Mar '26 Mar 31, 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	9,710	9,006	7,003	5,860	4,381	2,948
Revenue Growth	30.57%	28.60%	19.50%	33.76%	48.62%	27.21%
Gross Profit	6,169	5,769	4,491	3,630	2,676	1,881
Operating Income	4,155	3,856	2,945	2,257	1,527	924.74
Net Income	3,721	3,511	2,852	2,087	1,352	840.85
Earnings Per Share	2.92	2.75	2.23	1.65	1.07	0.66
EPS Growth	23.73%	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	Mar '26 Mar 31, 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	8,196	7,577	5,884	5,029	3,716	2,378
Service	1,514	1,429	1,119	830.68	665.23	570.31
Revenue (Total)	9,710	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	Mar '26 Mar 31, 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	12,353	10,743	8,304	5,008	3,024	3,408
Total Debt	0	0	0	0	0	56.53
Net Cash (Debt)	12,353	10,743	8,304	5,008	3,024	3,352
Net Cash Growth	51.58%	29.38%	65.81%	65.62%	-9.79%	19.69%
Net Cash Per Share	9.69	8.42	6.48	3.95	2.39	2.62

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 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	5,424	4,372	3,708	2,034	492.81	1,016
Capital Expenditures	-108.6	-119.5	-32	-34.4	-44.64	-64.74
Free Cash Flow	5,315	4,252	3,676	2,000	448.17	951.12
Free Cash Flow Growth	39.96%	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	Mar '26 Mar 31, 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	63.54%	64.06%	64.13%	61.95%	61.07%	63.80%
Operating Margin	42.79%	42.82%	42.05%	38.52%	34.86%	31.37%
Pretax Margin	47.03%	47.19%	46.62%	41.33%	36.10%	31.58%
Profit Margin	38.32%	38.99%	40.73%	35.62%	30.87%	28.52%
FCF Margin	54.74%	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	Jul '26 Jul 26, 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	59.79	47.65	49.57	35.68	28.36	54.66
Forward PE	45.95	40.86	46.87	33.56	23.53	44.18
P/FCF Ratio	41.51	38.72	37.92	36.78	83.10	46.51
PS Ratio	22.56	18.28	19.91	12.55	8.50	15.00