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Networking·ANET
Arista Networks, Inc.
NYSE · US
Cloud and data center Ethernet switching, routing, and network operating system supplier.
AI relevance
Core AI cluster scale-out Ethernet switching and cloud data center networking platform.
Price
$188.55
Change
+4.80 (+2.61%)
Market cap
$237.4B
52w range
$115–$215
Exchange
NYSE
Country
US
Jason's Chips
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Price chart
ANET market performance
Daily close for Arista Networks, Inc.
- Latest close
- $188.8
- Range move
- +$56.75 (+43.0%)
- Range high
- $210.5
- Range low
- $116.1
- Latest volume
- 3.1M
- Source
- FMP EOD
Downloads
CSVExports
Download statements, ratios, chart data, and transcript indexes.
Income statement
12 annual rowsRevenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.
Balance sheet
12 annual rowsCash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.
Cash flow
12 annual rowsOperating cash flow, capital expenditures, and free cash flow.
Key metrics
12 annual rowsEnterprise value, valuation multiples, returns, yields, and cash conversion.
Ratios
12 annual rowsMargins, liquidity ratios, valuation ratios, leverage, and per-share metrics.
Chart data
1255 rowsFive years of daily close and volume data powering the company chart.
Transcript list
49 rowsAvailable earnings-call transcript dates by fiscal year and quarter.
StreetBuy
Analyst expectations
Rating consensus53 ratings
Strong buy
0
Buy
40
Hold
13
Sell
0
Strong sell
0
Annual estimates
| Period | Revenue avg | Revenue range | EPS avg | EPS range | EBITDA avg | EBIT avg | Net income avg | SG&A avg | Analysts |
|---|---|---|---|---|---|---|---|---|---|
| 2026-12-31 | $12.67B | $11.78B - $13.09B | $4.11 | $3.68 - $4.29 | $7.96B | $7.95B | $5.25B | $1.17B | 19 rev / 16 EPS |
| 2027-12-31 | $16.48B | $14.73B - $17.71B | $5.23 | $4.55 - $5.76 | $10.35B | $10.34B | $6.64B | $1.53B | 20 rev / 17 EPS |
| 2028-12-31 | $20.41B | $16.95B - $22.93B | $6.40 | $5.73 - $6.99 | $12.83B | $12.81B | $8.11B | $1.89B | 20 rev / 10 EPS |
| 2029-12-31 | $24.30B | $21.98B - $25.86B | $8.01 | $7.01 - $8.68 | $15.27B | $15.25B | $10.22B | $2.25B | 10 rev / 4 EPS |
Quarterly estimates
| Period | Revenue avg | Revenue range | EPS avg | EPS range | EBITDA avg | EBIT avg | Net income avg | SG&A avg | Analysts |
|---|---|---|---|---|---|---|---|---|---|
| 2026-09-30 | $3.33B | $3.32B - $3.36B | $1.08 | $0.93 - $1.13 | $2.09B | $2.09B | $1.37B | $308.1M | 13 rev / 16 EPS |
| 2026-12-30 | $3.59B | $3.17B - $3.73B | $1.15 | $0.98 - $1.22 | $2.26B | $2.26B | $1.46B | $332.9M | 13 rev / 15 EPS |
| 2027-03-30 | $3.69B | $3.56B - $3.83B | $1.17 | $1.11 - $1.23 | $2.32B | $2.32B | $1.49B | $341.9M | 6 rev / 6 EPS |
| 2027-06-30 | $3.99B | $3.84B - $4.13B | $1.27 | $1.21 - $1.33 | $2.50B | $2.50B | $1.62B | $369.2M | 6 rev / 6 EPS |
| 2027-09-30 | $4.23B | $4.08B - $4.39B | $1.35 | $1.29 - $1.42 | $2.66B | $2.66B | $1.72B | $392.2M | 6 rev / 6 EPS |
| 2027-12-30 | $4.49B | $4.33B - $4.66B | $1.43 | $1.36 - $1.50 | $2.82B | $2.82B | $1.83B | $415.9M | 6 rev / 6 EPS |
| 2028-03-30 | $4.36B | $4.20B - $4.52B | $1.43 | $1.36 - $1.50 | $2.74B | $2.73B | $1.82B | $403.7M | 5 rev / 14 EPS |
| 2028-06-30 | $4.71B | $4.54B - $4.88B | $1.55 | $1.47 - $1.62 | $2.96B | $2.96B | $1.97B | $436.3M | 5 rev / 14 EPS |
Price target history
| Window | Targets | Average target |
|---|---|---|
| Last month | 8 | $251.00 |
| Last quarter | 12 | $231.08 |
| Last year | 34 | $195.62 |
| All time | 89 | $194.95 |
Sources: TheFly, StreetInsider, Benzinga, Pulse 2.0, TipRanks Contributor, MarketWatch
Latest grade actions
| Date | Firm | Action | Previous | New |
|---|---|---|---|---|
| 2026-08-06 | Barclays | Maintain | Overweight | Overweight |
| 2026-08-05 | Truist Securities | Maintain | Buy | Buy |
| 2026-08-05 | Wells Fargo | Maintain | Overweight | Overweight |
| 2026-08-05 | Piper Sandler | Maintain | Overweight | Overweight |
| 2026-08-05 | Rosenblatt | Maintain | Buy | Buy |
| 2026-08-05 | Keybanc | Maintain | Overweight | Overweight |
| 2026-08-05 | B of A Securities | Maintain | Buy | Buy |
| 2026-08-05 | Morgan Stanley | Maintain | Overweight | Overweight |
Historical rating snapshots
| Date | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| 2026-08-01 | 8 | 22 | 1 | 0 | 0 |
| 2026-07-01 | 7 | 22 | 1 | 0 | 0 |
| 2026-06-01 | 8 | 22 | 1 | 0 | 0 |
| 2026-05-01 | 8 | 22 | 3 | 0 | 0 |
| 2026-04-01 | 7 | 22 | 3 | 0 | 0 |
| 2026-03-01 | 7 | 20 | 3 | 0 | 0 |
| 2026-02-01 | 7 | 18 | 4 | 0 | 0 |
| 2026-01-01 | 6 | 18 | 5 | 0 | 0 |
FinancialsFY 2025
Financials
Income statement annual
| Period | Revenue | Gross profit | Gross margin | R&D | Operating income | EBITDA | Net income | EPS |
|---|---|---|---|---|---|---|---|---|
| FY 2025 | $9.01B | $5.77B | 64.1% | $1.24B | $3.86B | $4.32B | $3.51B | $2.79 |
| FY 2024 | $7.00B | $4.49B | 64.1% | $996.7M | $2.94B | $3.33B | $2.85B | $2.27 |
| FY 2023 | $5.86B | $3.63B | 61.9% | $854.9M | $2.26B | $2.49B | $2.09B | $1.69 |
| FY 2022 | $4.38B | $2.68B | 61.1% | $728.4M | $1.53B | $1.64B | $1.35B | $1.10 |
| FY 2021 | $2.95B | $1.88B | 63.8% | $586.8M | $924.7M | $981.2M | $840.9M | $0.69 |
| FY 2020 | $2.32B | $1.48B | 63.9% | $486.6M | $699.7M | $734.8M | $634.6M | $0.52 |
| FY 2019 | $2.41B | $1.54B | 64.1% | $462.8M | $805.8M | $838.6M | $859.9M | $0.70 |
| FY 2018 | $2.15B | $1.37B | 63.8% | $442.5M | $273.3M | $319.2M | $328.1M | $0.27 |
| FY 2017 | $1.65B | $1.06B | 64.5% | $349.6M | $470.3M | $498.2M | $423.2M | $0.37 |
| FY 2016 | $1.13B | $723.1M | 64.0% | $273.6M | $243.4M | $265.1M | $184.2M | $0.17 |
| FY 2015 | $837.6M | $543.6M | 64.9% | $209.4M | $149.3M | $162.8M | $121.1M | $0.11 |
| FY 2014 | $584.1M | $392.1M | 67.1% | $148.9M | $125.5M | $137.8M | $86.8M | $0.09 |
Cash flow annual
| Period | Operating cash flow | Capex | Free cash flow |
|---|---|---|---|
| FY 2025 | $4.37B | $119.5M | $4.25B |
| FY 2024 | $3.71B | $32.0M | $3.68B |
| FY 2023 | $2.03B | $34.4M | $2.00B |
| FY 2022 | $492.8M | $44.6M | $448.2M |
| FY 2021 | $1.02B | $64.7M | $951.1M |
| FY 2020 | $735.1M | $15.4M | $719.7M |
| FY 2019 | $963.0M | $15.8M | $947.3M |
| FY 2018 | $503.1M | $23.8M | $479.3M |
| FY 2017 | $631.6M | $15.3M | $616.3M |
| FY 2016 | $131.4M | $21.4M | $110.0M |
| FY 2015 | $200.5M | $20.0M | $180.5M |
| FY 2014 | $114.5M | $13.1M | $101.4M |
Balance sheet annual
| Period | Cash + ST inv. | Receivables | Inventory | PP&E | Assets | Debt | Net debt | Liabilities | Equity |
|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | $10.74B | $1.89B | $2.25B | $203.1M | $19.45B | $0 | -$1.96B | $7.08B | $12.37B |
| FY 2024 | $8.30B | $1.14B | $1.83B | $98.8M | $14.04B | $0 | -$2.76B | $4.05B | $9.99B |
| FY 2023 | $5.01B | $1.03B | $1.95B | $101.6M | $9.96B | $0 | -$1.94B | $2.74B | $7.22B |
| FY 2022 | $3.02B | $923.1M | $1.29B | $95.0M | $6.78B | $44.0M | -$627.7M | $1.89B | $4.89B |
| FY 2021 | $3.41B | $516.5M | $650.1M | $143.8M | $5.73B | $56.5M | -$564.3M | $1.76B | $3.98B |
| FY 2020 | $2.87B | $389.5M | $479.7M | $109.5M | $4.74B | $72.4M | -$820.8M | $1.42B | $3.32B |
| FY 2019 | $2.72B | $392.0M | $243.8M | $127.0M | $4.19B | $83.0M | -$1.03B | $1.29B | $2.89B |
| FY 2018 | $1.96B | $331.8M | $264.6M | $75.4M | $3.08B | $35.4M | -$614.5M | $938.6M | $2.14B |
| FY 2017 | $1.54B | $247.3M | $306.2M | $74.3M | $2.46B | $37.7M | -$821.5M | $798.9M | $1.66B |
| FY 2016 | $867.8M | $253.1M | $236.5M | $77.0M | $1.73B | $39.6M | -$528.3M | $621.2M | $1.11B |
| FY 2015 | $687.3M | $144.3M | $92.1M | $79.7M | $1.16B | $42.5M | -$644.8M | $371.7M | $788.2M |
| FY 2014 | $449.5M | $97.0M | $78.0M | $71.6M | $811.0M | $43.6M | -$196.4M | $255.4M | $555.7M |
Annual ratios and key metrics
| Period | Gross margin | Op margin | Net margin | Current | Quick | ROE | ROIC | EV / sales | EV / EBITDA | FCF yield | R&D / rev. | Cash cycle |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | 64.1% | 42.8% | 39.0% | 3.0x | 2.6x | 28.4% | 22.6% | 18.1x | 37.7x | 2.6% | 13.7% | 256d |
| FY 2024 | 64.1% | 42.0% | 40.7% | 4.4x | 3.7x | 28.5% | 22.7% | 19.4x | 40.9x | 2.6% | 14.2% | 271d |
| FY 2023 | 61.9% | 38.5% | 35.6% | 4.4x | 3.4x | 28.9% | 24.2% | 12.1x | 28.5x | 2.7% | 14.6% | 312d |
| FY 2022 | 61.1% | 34.9% | 30.9% | 4.3x | 3.3x | 27.7% | 23.8% | 8.3x | 22.2x | 1.2% | 16.6% | 303d |
| FY 2021 | 63.8% | 31.4% | 28.5% | 4.3x | 3.8x | 21.1% | 18.1% | 14.8x | 44.3x | 2.2% | 19.9% | 217d |
| FY 2020 | 63.9% | 30.2% | 27.4% | 5.0x | 4.4x | 19.1% | 15.1% | 9.2x | 28.9x | 3.3% | 21.0% | 212d |
| FY 2019 | 64.1% | 33.4% | 35.7% | 5.8x | 5.4x | 29.7% | 22.4% | 6.0x | 17.3x | 6.1% | 19.2% | 123d |
| FY 2018 | 63.8% | 12.7% | 15.3% | 4.5x | 4.0x | 15.3% | 11.0% | 7.0x | 47.4x | 3.0% | 20.6% | 136d |
| FY 2017 | 64.5% | 28.6% | 25.7% | 4.3x | 3.7x | 25.5% | 21.7% | 9.8x | 32.5x | 3.6% | 21.2% | 213d |
| FY 2016 | 64.0% | 21.6% | 16.3% | 3.3x | 2.8x | 16.6% | 14.6% | 5.4x | 23.1x | 1.7% | 24.2% | 223d |
| FY 2015 | 64.9% | 17.8% | 14.5% | 4.1x | 3.8x | 15.4% | 13.4% | 5.4x | 27.6x | 3.5% | 25.0% | 123d |
| FY 2014 | 67.1% | 21.5% | 14.9% | 4.7x | 4.2x | 15.6% | 13.4% | 4.7x | 19.9x | 3.4% | 25.5% | 147d |
Annual growth
| Period | Revenue | Gross profit | R&D | Op income | Net income | EPS | FCF | Capex | Cash + ST inv. | Inventory | Assets | Debt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | +28.6% | +28.4% | +24.1% | +31.0% | +23.1% | +22.9% | +15.7% | -273.1% | +29.4% | +22.5% | +38.5% | 0.0% |
| FY 2024 | +19.5% | +23.7% | +16.6% | +30.5% | +36.6% | +34.3% | +83.8% | +7.0% | +65.8% | -5.7% | +41.1% | 0.0% |
| FY 2023 | +33.8% | +35.7% | +17.4% | +47.8% | +54.3% | +53.6% | +346.2% | +22.9% | +65.6% | +50.8% | +47.0% | -100.0% |
| FY 2022 | +48.6% | +42.3% | +24.1% | +65.1% | +60.8% | +59.4% | -52.9% | +31.0% | -11.3% | +98.4% | +18.2% | -22.2% |
| FY 2021 | +27.2% | +26.9% | +20.6% | +32.2% | +32.5% | +32.7% | +32.1% | -320.8% | +18.6% | +35.5% | +21.0% | -21.9% |
| FY 2020 | -3.9% | -4.0% | +5.2% | -13.2% | -26.2% | -25.7% | -24.0% | +2.3% | +5.5% | +96.7% | +13.2% | -12.8% |
| FY 2019 | +12.1% | +12.4% | +4.6% | +194.8% | +162.1% | +155.3% | +97.6% | +33.9% | +39.3% | -7.8% | +35.8% | +134.3% |
| FY 2018 | +30.7% | +29.3% | +26.6% | -41.9% | -22.5% | -25.9% | -22.2% | -56.0% | +27.4% | -13.6% | +25.2% | -6.0% |
| FY 2017 | +45.8% | +46.8% | +27.8% | +93.2% | +129.8% | +117.6% | +460.2% | +28.7% | +76.9% | +29.5% | +42.3% | -4.8% |
| FY 2016 | +34.8% | +33.0% | +30.6% | +63.0% | +52.1% | +54.5% | -39.1% | -7.2% | +26.3% | +156.7% | +49.1% | -6.9% |
| FY 2015 | +43.4% | +38.6% | +40.7% | +19.0% | +39.4% | +23.9% | +78.1% | -52.2% | +52.9% | +18.1% | +43.0% | -2.5% |
| FY 2014 | +61.7% | +64.4% | +51.0% | +89.7% | +104.5% | +422.4% | +607.4% | +35.4% | +282.0% | +16.3% | +122.5% | -69.4% |
SegmentsFY 2025
Revenue Mix
Latest product mixFY 2025 · $9.01B
Product$7.58B · 84.1%
Service$1.43B · 15.9%
Latest geography mixFY 2025 · $9.01B
Americas$7.12B · 79.1%
EMEA$1.07B · 11.9%
Asia Pacific$813.3M · 9.0%
Product revenue annual
| Period | Total | Product | Service |
|---|---|---|---|
| FY 2025 | $9.01B | $7.58B | $1.43B |
| FY 2024 | $7.00B | $5.88B | $1.12B |
| FY 2023 | $5.86B | $5.03B | $830.7M |
| FY 2022 | $4.38B | $3.72B | $665.2M |
| FY 2021 | $2.95B | $2.38B | $570.3M |
| FY 2020 | $2.32B | $1.83B | $486.7M |
| FY 2019 | $2.41B | $2.02B | $389.6M |
| FY 2018 | $2.15B | $1.84B | $310.3M |
Geography revenue annual
| Period | Total | Americas | EMEA | Asia Pacific | UNITED STATES | Other Americas |
|---|---|---|---|---|---|---|
| FY 2025 | $9.01B | $7.12B | $1.07B | $813.3M | -- | -- |
| FY 2024 | $7.00B | $5.73B | $713.2M | $560.9M | -- | -- |
| FY 2023 | $5.86B | $4.65B | $671.0M | $538.0M | -- | -- |
| FY 2022 | $4.38B | $3.46B | $529.8M | $388.9M | -- | -- |
| FY 2021 | $2.95B | $2.16B | $486.8M | $305.0M | -- | -- |
| FY 2020 | $2.32B | $1.77B | $326.7M | $218.8M | -- | -- |
| FY 2019 | $2.41B | $1.83B | $381.7M | $195.9M | -- | -- |
| FY 2018 | $2.15B | $1.55B | $414.1M | $186.8M | -- | -- |
| FY 2017 | $1.65B | -- | $299.5M | $154.3M | $1.17B | $17.6M |
| FY 2016 | $1.13B | -- | $168.8M | $85.6M | $862.4M | $12.4M |
| FY 2015 | $837.6M | -- | $128.4M | $62.3M | $634.4M | $12.5M |
| FY 2014 | $584.1M | -- | $74.6M | $44.0M | $456.7M | $8.9M |
Transcripts49 on file
Transcripts
Events
Events
Next earnings
2026-11-03EPS est $1.06
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