Arista Networks is a networking equipment provider that primarily sells Ethernet switches and software to data centers. Its marquee product is its extensible operating system that runs a single image across every single one of its devices.
It is a $274B technology company. Revenue grew 32.6% over the last year, it keeps 38¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 67.6× earnings — near the highest of its own history.
- Website
- arista.com
- Location
- Santa Clara, CA
- Employees
- 5 115
- Sector
- Technology
- Founded
- 2008
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong growth, profitability, health and moat; Valuation lags behind.
Valuation5
- P/E vs own history100th pct · 0/25
- FCF yield1.9% · 5/25
- P/S25.9x · 0/25
- EV/EBITDA58.4x · 0/25
Growth95
- Revenue CAGR32.2% · 25/25
- Net income CAGR43.0% · 25/25
- EPS CAGR ~5Y40.7% · 25/25
- Fwd implied growth28.2% · 20/25
Profitability100
- ROIC204.4% · 25/25
- ROE30.8% · 25/25
- Net margin38.4% · 25/25
- Operating margin43.1% · 25/25
Health100
- Altman Z20.59 · 25/25
- Current ratio2.96 · 25/25
- Interest coverage171.8x · 25/25
- Net cash / debtNet cash · 25/25
Quality72
- Piotroski F6/9 · 15/25
- Beneish M-2.35 · 20/25
- FCF conversion127% · 25/25
- Margin stabilityσ 11.2% · 12/25
Moat100
- ROIC >12% years10/10 yrs · 25/25
- Median gross margin64.0% · 25/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 15.3% · 25/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$3.51B net income
- 2025AcquisitionArista expanded its AI-driven campus and branch networking offerings and acquired the VeloCloud SD-WAN…
- 2022AcquisitionArista Networks acquired Pluribus Networks, a unified cloud network company, for an undisclosed sum
- 2020AcquisitionArista acquired Big Switch Networks
- 2018AcquisitionArista Networks acquired Mojo Networks
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $1B$1.13B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2014IPOArista Networks had its initial public offering on the New York Stock Exchange under the symbol ANET
- 2014ProductCisco filed two lawsuits against Arista alleging intellectual property infringement
- 2008FoundedArista Networks was founded and incorporated in 2008, evolving from its roots in Arastra, established in 2004
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (63.0%)
- Strongly profitable — 38.4% net margin
- Revenue growing 32.6% year over year
- Strong cash conversion — FCF is 48.9% of revenue
- Net cash position after subtracting debt from cash
Watch-outs
Nothing stands out as a concern in the available data.
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+32.6% YoY
- Profitable — makes more than it spends$4.04B TTM
- Profit growing — earnings are higher than last year+37.1% YoY
- Generates cash — cash left after running and investing$5.16B TTM
- Debt under control — could handle its obligationsmore cash than debt
- Established company — not a micro-cap — lower blow-up risk$274B market cap
- Not printing shares — share count not ballooning — you keep your slice+0.3% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 20.6 — safe
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsP/E 67.6
Peer comparisonArista Networks vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| ANET this company | $274.1B | 67.6 | +32.6% | 38.4% | Strong |
| NVDA Nvidia Corp | $5.5T | 28.6 | +83.4% | 63.7% | Mixed |
| AAPL Apple Inc. | $4.9T | 38.1 | +14.2% | 27.6% | Strong |
| GOOGL Alphabet Inc. | $4.3T | 17.6 | +20.1% | 54.8% | Mixed |
| MSFT Microsoft Corp | $4.0T | 29.7 | +17.8% | 40.3% | Strong |
| SPCX Space Exploration Technologies Corp. | $2.1T | — | +33.2% | -34.0% | Strained |
| META Meta Platforms, Inc. | $1.8T | 26.9 | +27.7% | 29.8% | Mixed |
Head-to-head: ANET vs NVDA · ANET vs AAPL · ANET vs GOOGL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/ANET
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of ANET on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $217.31 · market cap $274B.