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ANET
Arista Networks
Communications Equipment
Communications EquipmentAnalysis in progress
In progress
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Business at a glance
Operating-health scores describe reported fundamentals on a 0–100 scale. They are not a rating of the stock. How they work
Operating health94
Growth100
Profitability98
Cash generation100
Balance sheet100
Dilution control70
Key ratios and five-year financials
Latest quarter revenue YoY (2026-09-30)58.5%Revenue growth (FY)28.6%Revenue CAGR (3y)27.1%Gross margin64.1%Operating margin42.8%Net margin39.0%Free cash flow margin47.2%R&D / revenue13.7%Stock comp / revenue4.9%Net debt / operating cash flow—Current ratio3.05Diluted share count change-0.4%
| Fiscal year ending | FY 2021-12 | FY 2022-12 | FY 2023-12 | FY 2024-12 | FY 2025-12 |
|---|---|---|---|---|---|
| Revenue | $2.9B | $4.4B | $5.9B | $7.0B | $9.0B |
| Gross profit | $1.9B | $2.7B | $3.6B | $4.5B | $5.8B |
| Operating income | $925M | $1.5B | $2.3B | $2.9B | $3.9B |
| Net income | $841M | $1.4B | $2.1B | $2.9B | $3.5B |
| Operating cash flow | $1.0B | $493M | $2.0B | $3.7B | $4.4B |
| Capital expenditure | $65M | $45M | $34M | $32M | $120M |
| Free cash flow | $951M | $448M | $2.0B | $3.7B | $4.3B |
| R&D | $587M | $728M | $855M | $997M | $1.2B |
| Stock-based comp | $187M | $231M | $297M | $355M | $439M |
| Buybacks | $412M | $670M | $112M | $424M | $1.6B |
| Cash | $621M | $672M | $1.9B | $2.8B | $2.0B |
| Equity | $4.0B | $4.9B | $7.2B | $10.0B | $12.4B |
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