Arista Networks, Inc. (ANET) Financial Statements
Industry: Computer Communications Equipment
In fiscal 2025, Arista Networks reported revenue of $9.01B, up 28.6% from $7.00B the year before. Net income was $3.51B (a 39.0% net margin), or $2.75 per diluted share. Gross margin was 64.1% and operating margin was 42.8%. Operating activities generated $4.37B of cash, leaving $4.25B of free cash flow. At fiscal year end, Arista Networks held $19.45B in total assets against $7.08B in total liabilities, including $1.96B of cash and equivalents.
Open the full interactive Arista Networks financials → Quarterly statements, key ratios, valuation history and price charts.
Arista Networks Key Stats
| Share Price | $204.52 |
|---|---|
| Market Cap | $260.97B |
| P/E Ratio | 74.4 |
| Revenue YoY Growth | +28.6% |
| 52-Week Range | $116.13 – $216.74 |
| Shares Outstanding | 1.26 billion (basic, 2026 Q2) |
Arista Networks Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $2.32B | $2.95B | $4.38B | $5.86B | $7.00B | $9.01B |
| Cost of Goods Sold | $835.6M | $1.07B | $1.71B | $2.23B | $2.51B | $3.24B |
| Gross Profit | $1.48B | $1.88B | $2.68B | $3.63B | $4.49B | $5.77B |
| Operating Income | $699.7M | $924.7M | $1.53B | $2.26B | $2.94B | $3.86B |
| Pre-Tax Income | $738.9M | $930.9M | $1.58B | $2.42B | $3.27B | $4.25B |
| Income Tax | $104.3M | $90.0M | $229.3M | $334.7M | $413.0M | $738.3M |
| Net Income | $634.6M | $840.9M | $1.35B | $2.09B | $2.85B | $3.51B |
| Diluted EPS | $0.50 | $0.66 | $1.07 | $1.65 | $2.23 | $2.75 |
Arista Networks Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $2.31B | $2.49B | $2.71B | $3.04B |
| Net Income | $853.0M | $955.8M | $1.02B | $1.21B |
| Diluted EPS | $0.67 | $0.75 | $0.80 | $0.95 |
Arista Networks Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $893.2M | $620.8M | $671.7M | $1.94B | $2.76B | $1.96B |
| Current Assets | $3.84B | $4.81B | $5.55B | $8.39B | $11.91B | $16.39B |
| Total Assets | $4.74B | $5.73B | $6.78B | $9.95B | $14.04B | $19.45B |
| Current Liabilities | $768.2M | $1.11B | $1.29B | $1.91B | $2.73B | $5.38B |
| Total Liabilities | $1.42B | $1.76B | $1.89B | $2.73B | $4.05B | $7.08B |
| Shareholders' Equity | $3.32B | $3.98B | $4.89B | $7.22B | $9.99B | $12.37B |
Arista Networks Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $735.1M | $1.02B | $492.8M | $2.03B | $3.71B | $4.37B |
| Cash From Investing | -$608.8M | -$925.6M | $216.3M | -$687.5M | -$2.46B | -$3.58B |
| Cash From Financing | -$346.3M | -$360.9M | -$654.6M | -$83.7M | -$421.8M | -$1.60B |
| Free Cash Flow | $719.7M | $951.1M | $448.2M | $2.00B | $3.68B | $4.25B |
Figures from Arista Networks' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Arista Networks financials page for every line item.
Arista Networks Company Profile
| Ticker | ANET |
|---|---|
| Exchange | NYSE |
| Industry | Computer Communications Equipment |
| Headquarters | Santa Clara, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001596532 |
Frequently Asked Questions
What was Arista Networks' revenue in fiscal 2025?
Arista Networks (ANET) reported revenue of $9.01B for fiscal 2025.
What is Arista Networks' annual revenue history?
Arista Networks' annual revenue by fiscal year: 2020: $2.32B; 2021: $2.95B; 2022: $4.38B; 2023: $5.86B; 2024: $7.00B; 2025: $9.01B.
What was Arista Networks' net income in fiscal 2025?
Arista Networks reported net income of $3.51B for fiscal 2025.
What was Arista Networks' earnings per share (EPS) in fiscal 2025?
Arista Networks' diluted EPS was $2.75 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Arista Networks generate in fiscal 2025?
Arista Networks generated $4.25B of free cash flow in fiscal 2025.
What was Arista Networks' revenue last quarter?
In its most recent reported quarter (2026 Q2), Arista Networks reported revenue of $3.04B.
How many shares of Arista Networks are outstanding?
Arista Networks reported a weighted average of 1.26 billion basic shares outstanding in 2026 Q2.
What is Arista Networks' market cap?
Based on its latest closing price, Arista Networks (ANET) has a market capitalization of about $260.97B.
When does Arista Networks' fiscal year end?
Arista Networks' fiscal year end, as registered with the SEC, is December 31.
Where is Arista Networks headquartered?
Arista Networks lists its business address in Santa Clara, California in its SEC filings.