Arista Networks, Inc. (ANET)
Arista Networks, Inc. engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for AI, data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications. The company offers data center, cloud and AI networking, cognitive adjacencies, and cognitive network software and services. It also provides post contract customer support services, such as technical support, hardware repair and replacement parts beyond standard warranty, bug fixes, patches, and upgrade services. The company serves a range of industries comprising internet companies, cloud service providers, financial services organizations, government agencies, media and entertainment, healthcare, oil and gas, education, manufacturing, industrial, and others. It markets and sells its products through distributors, system integrators, value-added resellers, and original equipment manufacturer partners, as well as through its direct sales force. Arista Networks, Inc. was formerly known as Arastra, Inc. and changed its name to Arista Networks, Inc. in October 2008. The company was incorporated in 2004 and is headquartered in Santa Clara, California.
- Symbol
- ANET
- Exchange
- NYSE
- Sector
- Technology
- Industry
- Computer Hardware
- Market cap
- $261.51B
- 52 week range
- 114.52 - 214.89
Valuation
- Share price
- $207.35 (close of 2026-10-02)
- P/E (TTM)
- 64.80x
- Price to book
- 17.67x
- Price to free cash flow
- 50.73x
- Enterprise value
- $259.22B
- Book value per share
- $11.73
Price performance
| Period | Change |
|---|---|
| 1 day | +1.40% |
| 5 days | +0.39% |
| 1 month | +11.42% |
| 3 months | +29.60% |
| 6 months | +63.68% |
| Year to date | +58.25% |
| 1 year | +43.53% |
| 3 years | +341.64% |
| 5 years | +846.37% |
| 10 years | +3797.56% |
| All time | +5927.62% |
Members of Congress who disclosed ANET trades
Gilbert Ray Cisneros · Val Hoyle · Lisa McClain · Robert Bresnahan · Jefferson Shreve · Byron Donalds · James Comer · John Boozman · Josh Gottheimer · Julie Johnson · Alan Armstrong · Angus King
Super investors holding ANET
Ken Griffin (Citadel) · Francois Rochon (Giverny Capital Inc) · Ray Dalio (Bridgewater Associates) · Lee Ainslie (Maverick Capital LTD)
Profitability and growth
- Return on equity
- 28.39%
- Return on invested capital
- 29.96%
- Return on assets
- 18.05%
- Return on capital employed
- 27.40%
- Gross margin
- 64.06%
- Net margin
- 38.99%
- EBITDA margin
- 43.62%
- Revenue growth
- 28.60%
- Net income growth
- 23.12%
- Free cash flow growth
- 15.67%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 1.97%
- Current ratio
- 2.96x
- Net debt to EBITDA
- -0.49x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $9.01B
- Cost of revenue
- $3.24B
- Gross profit
- $5.77B
- EBITDA
- $3.93B
- Net income
- $3.51B
- Earnings per share
- $2.79
- Research and development
- $1.24B
- Shares outstanding
- 1.26B
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|---|---|---|---|
| 2025-12-31 | $9.01B | $5.77B | $3.51B | $2.79 |
| 2024-12-31 | $7.00B | $4.49B | $2.85B | $2.27 |
| 2023-12-31 | $5.86B | $3.63B | $2.09B | $1.69 |
| 2022-12-31 | $4.38B | $2.68B | $1.35B | $1.10 |
| 2021-12-31 | $2.95B | $1.88B | $840.85M | $0.69 |
| 2020-12-31 | $2.32B | $1.48B | $634.56M | $0.52 |
| 2019-12-31 | $2.41B | $1.54B | $859.87M | $0.70 |
| 2018-12-31 | $2.15B | $1.37B | $328.12M | $0.27 |
| 2017-12-31 | $1.65B | $1.06B | $423.20M | $0.37 |
| 2016-12-31 | $1.13B | $723.12M | $184.19M | $0.17 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|---|---|---|---|
| 2025-12-31 | 64.06% | 38.99% | 28.39% | 29.96% |
| 2024-12-31 | 64.13% | 40.73% | 28.54% | 34.72% |
| 2023-12-31 | 61.95% | 35.62% | 28.91% | 35.96% |
| 2022-12-31 | 61.07% | 30.87% | 27.68% | 30.48% |
| 2021-12-31 | 63.80% | 28.52% | 21.13% | 24.45% |
| 2020-12-31 | 63.94% | 27.38% | 19.11% | 23.65% |
| 2019-12-31 | 64.06% | 35.67% | 29.71% | 42.68% |
| 2018-12-31 | 63.84% | 15.25% | 15.31% | 17.85% |
| 2017-12-31 | 64.50% | 25.71% | 25.46% | 49.82% |
| 2016-12-31 | 64.04% | 16.31% | 16.63% | 34.33% |
Cash and debt by year
| Period end | Cash |
|---|---|
| 2025-12-31 | $1.96B |
| 2024-12-31 | $2.76B |
| 2023-12-31 | $1.94B |
| 2022-12-31 | $671.71M |
| 2021-12-31 | $620.81M |
| 2020-12-31 | $893.22M |
| 2019-12-31 | $1.11B |
| 2018-12-31 | $649.95M |
| 2017-12-31 | $859.19M |
| 2016-12-31 | $567.92M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|---|---|
| 2025-12-31 | $4.25B | $439.20M |
| 2024-12-31 | $3.68B | $355.40M |
| 2023-12-31 | $2.00B | $296.80M |
| 2022-12-31 | $448.17M | $230.93M |
| 2021-12-31 | $951.12M | $186.88M |
| 2020-12-31 | $719.73M | $137.04M |
| 2019-12-31 | $947.28M | $101.28M |
| 2018-12-31 | $479.29M | $91.20M |
| 2017-12-31 | $616.35M | $75.43M |
| 2016-12-31 | $152.88M | $59.03M |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-03
- Consensus EPS estimate
- $0.99
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|---|---|
| 2026-08-04 | Jun/2026 | $0.80 |
| 2026-05-05 | Mar/2026 | $0.72 |
| 2026-02-12 | Dec/2025 | $0.67 |
| 2025-11-04 | Sep/2025 | $0.65 |
| 2025-08-05 | Jun/2025 | $0.60 |
| 2025-07-28 | - | - |
| 2025-05-06 | Mar/2025 | $0.53 |
| 2025-05-05 | - | - |
Filings and sources
- Company website
- arista.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Understanding these figures
Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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