Arista Networks, Inc. (ANET)
As-reported financials and recent SEC filings for Arista Networks, Inc., latest fiscal period FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.
About Arista Networks, Inc.
Arista Networks, Inc. provides data-driven networking-as-a-service solutions that connect AI Centers, Data Centers, Campus Centers, and WAN Centers. The company offers high-speed Ethernet switching platforms, software, and services designed for cloud, AI, and enterprise customers worldwide. Its products include network switches, routing platforms, and management software that support scalable, secure, and automated network operations.
Snapshot
Fundamentals are from SEC filings. P/E and market cap are derived from recent market prices, refreshed on a rolling basis (typically within the past week).
What changed at Arista Networks
- Revenue grew 28.6% to $9.0B in FY2025, faster than the 19.5% the year before.
- Operating margin is 42.8% in FY2025, +11.5 pp against 31.4% in FY2021.
- Most recent quarter Q1 FY2026: revenue $2.7B, up 35.1% from Q1 FY2025.
- Free cash flow was $4.3B in FY2025, 47.2% of revenue.
- Net income rose 23.1% to $3.5B in FY2025.
Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.
Peer comparison
Where Arista Networks’s fundamentals sit among the 625 Technology companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).
Arista Networks’s FCF margin of 47.2% ranks in the 99th percentile of the 541 Technology companies reporting it. Arista Networks’s operating margin of 42.8% ranks in the 98th percentile of the 562 Technology companies reporting it. Arista Networks’s net margin of 39.0% ranks in the 97th percentile of the 576 Technology companies reporting it.
No open-market insider buys in the last 90 days; 175 insider sales totaling $437.8M. For context, about 16% of companies in the universe saw any open-market insider buying in the same window. Browse insider activity →
Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.
Institutional ownership
Held by 4 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F (latest Q1 2026).
| Investor | As of | Position value | Shares | Change |
|---|---|---|---|---|
| AQR Capital Managementquant | Q1 2026 | $950.2M | 8.0M | Added |
| Point72 Asset Managementquant | Q1 2026 | $803.7M | 6.5M | Reduced |
| Two Sigma Investmentsquant | Q1 2026 | $461.4M | 3.8M | Added |
| Bridgewater Associates | Q1 2026 | $163.3M | 1.3M | Added |
| D. E. Shawquant | Q1 2026 | $121.8M | 992.3K | Reduced |
| Millennium Managementquant | Q1 2026 | $66.4M | 541.0K | Added |
| Citadel Advisorsquant | Q1 2026 | $64.7M | 527.1K | Added |
| Giverny Capital | Q1 2026 | $52.0M | 423.4K | Added |
| Gotham Asset Management | Q1 2026 | $26.6M | 216.9K | Added |
| Renaissance Technologiesquant | Q1 2026 | $8.2M | 66.7K | Reduced |
| Sands Capital Management | Q1 2026 | $331,260 | 2.7K | New |
From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.
Recent insider activity
Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.
| Trade date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
2026-07-20 filed 2026-07-22 | Duda KennethPresident and CTO | Sell | 9.0K | $170.73 | $1.5M |
2026-07-20 filed 2026-07-22 | Duda KennethPresident and CTO | Sell | 8.3K | $170.73 | $1.4M |
2026-07-20 filed 2026-07-22 | Duda KennethPresident and CTO | Sell | 6.6K | $169.90 | $1.1M |
2026-07-20 filed 2026-07-22 | Duda KennethPresident and CTO | Sell | 6.1K | $169.90 | $1.0M |
2026-07-20 filed 2026-07-22 | Duda KennethPresident and CTO | Sell | 5.2K | $170.73 | $889K |
2026-07-20 filed 2026-07-22 | Duda KennethPresident and CTO | Sell | 3.8K | $169.90 | $644K |
2026-07-20 filed 2026-07-22 | Duda KennethPresident and CTO | Sell | 1.7K | $171.72 | $292K |
2026-07-20 filed 2026-07-22 | Duda KennethPresident and CTO | Sell | 1.6K | $171.72 | $269K |
2026-07-20 filed 2026-07-22 | Duda KennethPresident and CTO | Sell | 979 | $171.72 | $168K |
2026-07-20 filed 2026-07-22 | Duda KennethPresident and CTO | Sell | 40 | $172.40 | $7K |
2026-07-20 filed 2026-07-22 | Duda KennethPresident and CTO | Sell | 37 | $172.40 | $6K |
2026-07-20 filed 2026-07-22 | Duda KennethPresident and CTO | Sell | 23 | $172.40 | $4K |
Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.
Short interest
Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 2026-07-15 | 19.9M | -8.1% | 2.24 |
| 2026-06-30 | 21.6M | +7.1% | 2.46 |
| 2026-06-15 | 20.2M | -5.0% | 2.60 |
| 2026-05-29 | 21.3M | +1.8% | 2.11 |
| 2026-05-15 | 20.9M | +13.6% | 1.30 |
| 2026-04-30 | 18.4M | +6.1% | 2.51 |
| 2026-04-15 | 17.3M | +2.3% | 2.64 |
| 2026-03-31 | 16.9M | +10.2% | 2.44 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.
Income statement (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $9.01B | $7.00B | $5.86B | $4.38B | $2.95B |
| Gross profit | $5.77B | $4.49B | $3.63B | $2.68B | $1.88B |
| Operating income | $3.86B | $2.94B | $2.26B | $1.53B | $924.7M |
| Net income | $3.51B | $2.85B | $2.09B | $1.35B | $840.9M |
| Diluted EPS | $2.75 | $2.23 | $1.65 | $1.07 | $0.66 |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.
Balance sheet (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | $1.96B | $2.76B | $1.94B | $671.7M | $620.8M |
| Current assets | $16.39B | $11.91B | $8.40B | $5.55B | $4.81B |
| Total assets | $19.45B | $14.04B | $9.96B | $6.78B | $5.73B |
| Current liabilities | $5.38B | $2.73B | $1.92B | $1.29B | $1.11B |
| Long-term debt | — | — | — | — | — |
| Total liabilities | $7.08B | $4.05B | $2.74B | $1.89B | $1.76B |
| Total equity | $12.37B | $9.99B | $7.22B | $4.89B | $3.98B |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.
Cash flow (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Operating cash flow | $4.37B | $3.71B | $2.03B | $492.8M | $1.02B |
| Capital expenditure | $119.5M | $32.0M | $34.4M | $44.6M | $64.7M |
| Free cash flow | $4.25B | $3.68B | $2.00B | $448.2M | $951.1M |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.
Quarterly trend (as reported)
| Quarter | Revenue | Revenue YoY | Net income | Diluted EPS |
|---|---|---|---|---|
| Q1 FY2026 | $2.71B | 35.1% | $1.02B | $0.80 |
| Q4 FY2025 | $2.49B | 28.9% | $955.8M | $0.75 |
| Q3 FY2025 | $2.31B | 27.5% | $853.0M | $0.67 |
| Q2 FY2025 | $2.20B | 30.4% | $888.8M | $0.70 |
| Q1 FY2025 | $2.00B | 27.6% | $813.8M | $0.64 |
| Q4 FY2024 | $1.93B | 25.3% | $801.0M | $0.62 |
| Q3 FY2024 | $1.81B | 20.0% | $748.0M | $0.58 |
| Q2 FY2024 | $1.69B | 15.9% | $665.4M | $0.52 |
Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.
Company facts
Recent SEC filings
Largest Technology peers
ANET head to head
Monitor ANET
Get an alert when Arista Networks files something material, see which superinvestors own it, and ask its filings a question with cited answers.
Monitor ANET freeIncludes one free filing-grounded research answer. Or check your whole portfolio, no account needed.
Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.