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NYSE · Technology

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

Revenue
$9.01B
Revenue growth (YoY)
28.6%
Net income
$3.51B
Diluted EPS
$2.75
Gross margin
64.1%
Operating margin
42.8%
Net margin
39.0%
FCF margin
47.2%
ROE
28.4%
P/E (TTM)
58.7×
Market cap
$215.02B
Debt / equity

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).

Gross margin64.1%
66th percentile of 507
Operating margin42.8%
98th percentile of 562
Net margin39.0%
97th percentile of 576
FCF margin47.2%
99th percentile of 541
Revenue growth (YoY)+28.6%
82nd percentile of 616
ROE28.4%
88th percentile of 536
P/E (TTM)58.7×
73rd percentile of 332
Short interest2.24d
27th percentile of 623

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).

Conviction investors
4
+7 quant / multi-strat
Initiated / added
8
1 new, 7 added
Reduced / exited
3
3 trimmed, 0 exited
Combined position
$2.72B
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ1 2026$950.2M8.0MAdded
Point72 Asset ManagementquantQ1 2026$803.7M6.5MReduced
Two Sigma InvestmentsquantQ1 2026$461.4M3.8MAdded
Bridgewater AssociatesQ1 2026$163.3M1.3MAdded
D. E. ShawquantQ1 2026$121.8M992.3KReduced
Millennium ManagementquantQ1 2026$66.4M541.0KAdded
Citadel AdvisorsquantQ1 2026$64.7M527.1KAdded
Giverny CapitalQ1 2026$52.0M423.4KAdded
Gotham Asset ManagementQ1 2026$26.6M216.9KAdded
Renaissance TechnologiesquantQ1 2026$8.2M66.7KReduced
Sands Capital ManagementQ1 2026$331,2602.7KNew

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.

Buys (90d)
0
open-market
Bought (90d)
open-market value
Sells (90d)
175
$437.8M
Signal
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-07-20
filed 2026-07-22
Duda KennethPresident and CTOSell9.0K$170.73$1.5M
2026-07-20
filed 2026-07-22
Duda KennethPresident and CTOSell8.3K$170.73$1.4M
2026-07-20
filed 2026-07-22
Duda KennethPresident and CTOSell6.6K$169.90$1.1M
2026-07-20
filed 2026-07-22
Duda KennethPresident and CTOSell6.1K$169.90$1.0M
2026-07-20
filed 2026-07-22
Duda KennethPresident and CTOSell5.2K$170.73$889K
2026-07-20
filed 2026-07-22
Duda KennethPresident and CTOSell3.8K$169.90$644K
2026-07-20
filed 2026-07-22
Duda KennethPresident and CTOSell1.7K$171.72$292K
2026-07-20
filed 2026-07-22
Duda KennethPresident and CTOSell1.6K$171.72$269K
2026-07-20
filed 2026-07-22
Duda KennethPresident and CTOSell979$171.72$168K
2026-07-20
filed 2026-07-22
Duda KennethPresident and CTOSell40$172.40$7K
2026-07-20
filed 2026-07-22
Duda KennethPresident and CTOSell37$172.40$6K
2026-07-20
filed 2026-07-22
Duda KennethPresident and CTOSell23$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.

Shares short
19.9M
settled 2026-07-15
Change vs prior
-8.1%
vs previous settlement
Days to cover
2.24
at avg daily volume
Avg daily volume
8.9M
FINRA reported
SettlementShares shortChangeDays to cover
2026-07-1519.9M-8.1%2.24
2026-06-3021.6M+7.1%2.46
2026-06-1520.2M-5.0%2.60
2026-05-2921.3M+1.8%2.11
2026-05-1520.9M+13.6%1.30
2026-04-3018.4M+6.1%2.51
2026-04-1517.3M+2.3%2.64
2026-03-3116.9M+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)

 FY2025FY2024FY2023FY2022FY2021
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)

 FY2025FY2024FY2023FY2022FY2021
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)

 FY2025FY2024FY2023FY2022FY2021
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)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q1 FY2026$2.71B35.1%$1.02B$0.80
Q4 FY2025$2.49B28.9%$955.8M$0.75
Q3 FY2025$2.31B27.5%$853.0M$0.67
Q2 FY2025$2.20B30.4%$888.8M$0.70
Q1 FY2025$2.00B27.6%$813.8M$0.64
Q4 FY2024$1.93B25.3%$801.0M$0.62
Q3 FY2024$1.81B20.0%$748.0M$0.58
Q2 FY2024$1.69B15.9%$665.4M$0.52

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorTechnology
SIC industryComputer Communications Equipment
Fiscal year endDecember 31
Latest fiscal periodFY2025
SEC filings since2021
SEC CIK1596532

Recent SEC filings

10-K2026-02-17
View on EDGAR →
10-K2025-02-19
View on EDGAR →
10-Q2026-05-06
View on EDGAR →
10-Q2025-11-05
View on EDGAR →
10-Q2025-08-06
View on EDGAR →
10-Q2025-05-07
View on EDGAR →
8-K2026-06-02
View on EDGAR →
8-K2026-05-05
View on EDGAR →

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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.