Arista NetworksANETRevenue: is the business selling more than it used to?
$9.0B+29% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Revenue reached $9.0B in 2025, compounding +27% a year since 2022 and the pace is picking up. The trailing twelve months are already running at $10.5B, ahead of the last full year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETNet income: how much of that revenue becomes profit?
$3,511+23% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $3,511 in 2025, compounding +37% a year over three years. Earnings per share moved +33% over the last twelve months. Trailing twelve-month profit stands at $533M.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETHow fast is it growing, year by year?
+28.6%revenue growth, FY 2025
→Revenue grew +29% in 2025 against a five-year average of +32%. Earnings grew more slowly (+23%), so costs are absorbing part of the growth.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETRevenue per share: is your slice growing as fast as the company?
$7.06revenue per share, FY 2025
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Revenue per share reached $7.06 in 2025, compounding +27% a year - in line with ANET's own +27%, so the share count is not distorting your slice. Free cash flow per share stands at $3.33.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETFree cash flow: what is left in real cash after everything?
$4.3B+16% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Free cash flow was $4.3B in 2025, compounding +112% a year since 2022. That is the most cash the business has ever thrown off in a year. The trailing twelve months stand at $5.2B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETWhere does each dollar of revenue actually go?
→Of $9.0B in 2025 sales, $3,511 reaches net profit - 0 cents on the dollar. The largest single deduction is producing the product ($3.2B).
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETHow much of every sales dollar ends up as free cash?
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→47 cents of every sales dollar became free cash in 2025, up 37 points since 2022.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETWhat does staying competitive cost, per dollar of sales?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The biggest claim on each sales dollar is research and development, at 14% of revenue (stock compensation 5%, capital spending 1%). That share has fallen since 2022, so the cost of competing is easing.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETWhen sales grow, do profits grow faster?
→Operating profit outgrew revenue in 5 of the last 5 years, most recently +31% against +29%. Each additional dollar of sales is landing more profitably than the last - the definition of operating leverage.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETMargins: of every $1 of sales, how much survives each cost layer?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Operating margin widened 8 points to 43% since 2022. After everything, 0 cents of each sales dollar reaches net profit.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETWhat does it earn on the money it uses?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→ROE of 4% and ROCE of 27% sit close together, so the returns come from the business itself rather than from borrowing.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETWhat has the market paid for ANET over time?
463.6xP/E today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→At 463.6x earnings, the market is paying +629% more than ANET's own 11-year median of 63.6x. Expectations are elevated, so more has to go right to justify the price.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETWhat cash return does the business throw off per dollar of market value?
2.1%FCF yield today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→Every dollar of market value currently buys 2.1% of annual free cash flow, less than its 11-year median of 3.5% - you are paying up for the same cash.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETCould it handle its debt if things went wrong?
→Debt isn't clearly tagged in ANET's filings, so treat the balance sheet with extra care rather than assuming zero.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETIs the company's own capital growing?
→The company's own capital grew from $7.2B in 2023 to $14.8B (+105%). The business is building book value rather than consuming it.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETHow much goes back, and how much leaks out as stock comp?
→Shareholders received $1.6B in buybacks in 2025. Stock compensation issued $439M of new shares in the same year, offsetting 27% of that.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETHow fast is your ownership being diluted - or concentrated?
→The share count shrank 0.4% in 2025. Buybacks are concentrating your ownership: the same business, split fewer ways.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETDoes ANET earn more on its capital than that capital costs?
→ANET earns 27.4% on the capital it employs, well above the 10% most investors treat as the cost of capital. It was 27.9% in 2022, so the trend is flat, though the path has been bumpy.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETANET has issued or retired shares - did shareholders end up better off?
→ANET issued +220% more shares from 2012 to 2025, but revenue per share still rose +1354%. The dilution bought more growth than it cost existing holders.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Arista NetworksANETAre the people running it buying or selling?
→Insiders sold $914M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 32 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30