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 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
Net Income	3,721	3,511	2,852	2,087	1,352	840.85
Depreciation & Amortization	82.1	72.6	62	70.6	62.7	50.33
Stock-Based Compensation	467.1	439.2	355.4	296.8	230.93	186.88
Other Adjustments	-328.2	-339.1	-546.5	-404.8	-240.45	-55.33
Change in Receivables	-487.9	-746.4	-106.1	-105.9	-401.95	-126.97
Changes in Inventories	-422.8	-412.5	110.6	-655.5	-638.95	-170.45
Changes in Accounts Payable	218.2	260.5	-51.6	198.6	31.44	66.68
Changes in Income Taxes Payable	63.8	-47.8	-66.5	20.2	44.03	-2.59
Changes in Unearned Revenue	2,981	2,452	1,285	465	98.96	278.49
Changes in Other Operating Activities	-869.9	-818	-186.4	61.7	-46.34	-52.04
Operating Cash Flow	5,424	4,372	3,708	2,034	492.81	1,016
Operating Cash Flow Growth	41.39%	17.90%	82.31%	312.73%	-51.49%	38.19%
Capital Expenditures	-108.6	-119.5	-32	-34.4	-44.64	-64.74
Purchases of Investments	-7,136	-6,748	-4,526	-2,607	-1,419	-2,337
Proceeds from Sale of Investments	3,886	3,577	2,107	1,955	1,838	1,475
Payments for Business Acquisitions	-150	-300	-	1.8	-145.09	1.3
Other Investing Activities	-	14.9	-6.6	-3.2	-12.69	-
Investing Cash Flow	-3,676	-3,576	-2,457	-687.5	216.33	-925.56
Issuance of Common Stock	59.5	57.7	60.2	62.1	48.41	67.25
Repurchase of Common Stock	-857.9	-1,654	-482	-145.9	-703.01	-428.13
Net Common Stock Issued (Repurchased)	-798.4	-1,596	-421.8	-83.8	-654.6	-360.88
Other Financing Activities	-3.7	-	-	-	-	-
Financing Cash Flow	-802.1	-1,596	-421.8	-83.8	-654.6	-360.88
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-1.6	1.7	-4.8	0.8	-3.61	-1.82
Net Cash Flow	944.4	-798.5	824.3	1,264	50.93	-272.4
Free Cash Flow	5,315	4,252	3,676	2,000	448.17	951.12
Free Cash Flow Growth	24.99%	15.67%	83.85%	346.17%	-52.88%	32.15%
FCF Margin	54.74%	47.22%	52.49%	34.12%	10.23%	32.26%
Free Cash Flow Per Share	4.17	3.33	2.87	1.58	0.35	0.74
Levered Free Cash Flow	5,664	4,899	3,973	2,214	859.63	946.55
Unlevered Free Cash Flow	5,329	4,573	3,693	2,072	812.87	941

SEC Filings: 10-K · 10-Q