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Overview

Arista Networks, Inc.

ANETNYSEInformation TechnologyComputer Communications EquipmentCIK 0001596532Large-cap benchmark

Latest 10-K: FY2025, filed Feb 17, 2026 · Open the 10-K (Inline XBRL) ↗

Revenue
$9.01B
28.6%YoYup from FY2024
TotalRevenue
Gross profit
$5.77B
28.4%YoYup from FY2024
GrossProfit
Operating income
$3.86B
31.0%YoYup from FY2024
OperatingIncome
Net income
$3.51B
23.1%YoYup from FY2024
NetIncome
Diluted EPS
$2.75
23.3%YoYup from FY2024
EPSDiluted
Diluted shares
1.28B
0.4%YoYdown from FY2024
WeightedAvgSharesDiluted

At a glance

Growth

  • Arista Networks, Inc. reported revenue of $9.01B for fiscal 2025, up 28.6% from fiscal 2024.
  • Revenue grew faster than the median S&P 500 member in 5 of the last 5 fiscal years.

Profitability

  • Operating margin was 42.8% and net margin was 39.0%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.

Per share

  • Diluted EPS was $2.75, up 23.3% from the prior year.
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Written from the filed figures on this page by fixed rules — no AI.

Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K

Financial statements

Annual figures from the 10-K, most recent fiscal year first.

Income Statement

5 annual periods

Chip: YoY change.

Income Statement, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: large-cap benchmark median change. Line under a label: how many large-cap benchmark companies its median rests on.
Line itemFY2025FY2024FY2023FY2022FY20214Y CAGR
Revenue
$9.01B28.6%up
Benchmark median 6.4%
$7.00B19.5%up
Benchmark median 4.5%
$5.86B33.8%up
Benchmark median 4.8%
$4.38B48.6%up
Benchmark median 10.3%
$2.95B27.2%up
Benchmark median 13.8%
32.2%
Benchmark median 6.6%
Gross Profit
Median of 315 / 498
$5.77B28.4%up
Benchmark median 6.8%
$4.49B23.7%up
Benchmark median 5.5%
$3.63B35.7%up
Benchmark median 5.2%
$2.68B42.3%up
Benchmark median 8.3%
$1.88B26.9%up
Benchmark median 15.7%
32.3%
Benchmark median 6.2%
Operating Income
Median of 373 / 498
$3.86B31.0%up
Benchmark median 7.3%
$2.94B30.4%up
Benchmark median 7.4%
$2.26B47.8%up
Benchmark median 4.9%
$1.53B65.1%up
Benchmark median 7.5%
$0.92B32.2%up
Benchmark median 23.5%
42.9%
Benchmark median 7.2%
Net Income
$3.51B23.1%up
Benchmark median 4.8%
$2.85B36.6%up
Benchmark median 5.7%
$2.09B54.3%up
Benchmark median 1.9%
$1.35B60.8%up
Benchmark median 1.3%
$0.84B32.5%up
Benchmark median 33.9%
43.0%
Benchmark median 4.1%
EPS (Diluted)
$2.7523.3%up
Benchmark median 6.2%
$2.2335.2%up
Benchmark median 7.9%
$1.6554.2%up
Benchmark median 1.9%
$1.07‡n/m
Benchmark median 1.5%
$2.6331.5%up
Benchmark median 34.8%
n/m
Benchmark median 5.6%

‡ Share basis changed between these years (stock split or reverse split).

Balance Sheet

5 annual periods

Chip: YoY change.

Balance Sheet, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: large-cap benchmark median change. Line under a label: how many large-cap benchmark companies its median rests on.
Line itemFY2025FY2024FY2023FY2022FY20214Y CAGR
Total Assets
$19.45B38.5%up
Benchmark median 5.6%
$14.04B41.1%up
Benchmark median 3.4%
$9.96B47.0%up
Benchmark median 4.1%
$6.78B18.2%up
Benchmark median 2.2%
$5.73B21.0%up
Benchmark median 6.7%
35.7%
Benchmark median 4.7%
Total Liabilities
Median of 357 / 498
$7.08B74.8%up
Benchmark median 6.4%
$4.05B47.9%up
Benchmark median 1.9%
$2.74B44.9%up
Benchmark median 2.9%
$1.89B7.6%up
Benchmark median 2.0%
$1.76B23.8%up
Benchmark median 5.2%
41.7%
Benchmark median 4.4%
Stockholders' Equity
$12.37B23.8%up
Benchmark median 6.8%
$9.99B38.5%up
Benchmark median 5.4%
$7.22B47.8%up
Benchmark median 7.3%
$4.89B22.8%up
Benchmark median 2.5%
$3.98B19.8%up
Benchmark median 9.0%
32.8%
Benchmark median 6.1%
Cash & Equivalents
$1.96B28.9%down
Benchmark median 5.2%
$2.76B42.5%up
Benchmark median 1.9%
$1.94B188.6%up
Benchmark median 6.7%
$0.67B8.2%up
Benchmark median -8.6%
$0.62B30.5%down
Benchmark median -2.9%
33.4%
Benchmark median 2.0%
Total Debt
—
—
—
—
—
—
Benchmark median 4.3%

Cash Flow Statement

5 annual periods

Chip: YoY change.

Cash Flow Statement, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: large-cap benchmark median change. Line under a label: how many large-cap benchmark companies its median rests on.
Line itemFY2025FY2024FY2023FY2022FY20214Y CAGR
Operating Cash Flow
$4.37B17.9%up
Benchmark median 6.3%
$3.71B82.3%up
Benchmark median 4.8%
$2.03B312.7%up
Benchmark median 9.9%
$0.49B51.5%down
Benchmark median -0.7%
$1.02B38.2%up
Benchmark median 10.7%
44.0%
Benchmark median 7.0%
Capital Expenditures
$119.50M273.4%up
Benchmark median 5.4%
$32.00M7.0%down
Benchmark median 2.8%
$34.40M22.9%down
Benchmark median 11.3%
$44.64M31.0%down
Benchmark median 14.0%
$64.74M320.8%up
Benchmark median 8.1%
16.6%
Benchmark median 9.0%
Free Cash Flow
Median of 378 / 498
$4.25B15.7%up
Benchmark median 7.3%
$3.68B83.8%up
Benchmark median 6.1%
$2.00B346.2%up
Benchmark median 8.8%
$0.45B52.9%down
Benchmark median -11.3%
$0.95B32.1%up
Benchmark median 10.2%
45.4%
Benchmark median 4.9%

n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.

Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology

Ratios & valuation

FY2025

Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.

Valuation · Earnings yield

What a dollar of market value earned

2.1%

Wall Street

on net earnings

FY2024 2.0%

2.5%

Value investor

on free cash flow

FY2024 2.6%

Gap +0.4 pts: Value-investor figure 0.4 points higher

How it’s calculated

Wall Street · on net earnings

Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)

pe_ratio (ratio table)

P/E 47.6×

Value investor · on free cash flow

(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)

free cash flow ÷ market cap

Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.

Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.

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Smart money

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Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.

Peers, filings & research

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Research Reports

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Cite this page

Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/ANET

APA-style text
Valuein. (2026, October 31). Arista Networks, Inc. (ANET) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/ANET
BibTeX
@misc{valuein_anet_2026,
  author = {{Valuein}},
  title = {Arista Networks, Inc. (ANET) financial statements, earnings power and smart-money summary},
  year = {2026},
  howpublished = {\url{https://valuein.biz/data/ANET}},
  note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}
Open 10-K in SEC Inline XBRL viewer

10-K filed Feb 17, 2026 · accession 0001596532-26-000013

Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.

point-in-time · survivorship-free · every number traceable to its SEC filing

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