ANET
Arista Networks
NYSE: ANET · TECHNOLOGY · COMPUTER HARDWARE
$172.71
+2.39% today
Updated 2026-04-30
Market cap
$212.40B
P/E ratio
61.34
P/S ratio
23.58x
EPS (TTM)
$2.75
Dividend yield
—
52W range
$83 – $180
Volume
6.9M
Arista Networks (ANET) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $139.85M | $193.41M | $361.22M | $584.11M | $837.59M | $1.13B | $1.65B | $2.15B | $2.41B | $2.32B | $2.95B | $4.38B | $5.86B | $7.00B | $9.01B |
| Revenue growth (YoY) | — | +38.3% | +86.8% | +61.7% | +43.4% | +34.8% | +45.8% | +30.7% | +12.1% | -3.9% | +27.2% | +48.6% | +33.8% | +19.5% | +28.6% |
| Cost of revenue | $43.37M | $61.25M | $122.69M | $192.01M | $294.03M | $406.05M | $584.42M | $777.99M | $866.37M | $835.63M | $1.07B | $1.71B | $2.23B | $2.51B | $3.24B |
| Gross profit | $96.48M | $132.16M | $238.54M | $392.09M | $543.56M | $723.12M | $1.06B | $1.37B | $1.54B | $1.48B | $1.88B | $2.68B | $3.63B | $4.49B | $5.77B |
| Gross margin | 69.0% | 68.3% | 66.0% | 67.1% | 64.9% | 64.0% | 64.5% | 63.8% | 64.1% | 63.9% | 63.8% | 61.1% | 61.9% | 64.1% | 64.1% |
| R&D | $26.41M | $55.16M | $98.59M | $148.91M | $209.45M | $273.58M | $349.59M | $442.47M | $462.76M | $486.59M | $586.75M | $728.39M | $854.92M | $996.70M | $1.24B |
| SG&A | $6.22M | $8.50M | $18.69M | $32.33M | $75.72M | $75.24M | $86.80M | $65.42M | $61.90M | $66.24M | $83.12M | $93.24M | $119.08M | $122.70M | $141.90M |
| Operating income | $44.40M | $39.90M | $66.15M | $125.51M | $149.31M | $243.41M | $470.27M | $273.35M | $805.77M | $699.68M | $924.74M | $1.53B | $2.26B | $2.94B | $3.86B |
| Operating margin | 31.7% | 20.6% | 18.3% | 21.5% | 17.8% | 21.6% | 28.6% | 12.7% | 33.4% | 30.2% | 31.4% | 34.9% | 38.5% | 42.0% | 42.8% |
| EBITDA | $45.34M | $41.81M | $70.44M | $137.81M | $162.83M | $265.11M | $498.18M | $319.17M | $838.62M | $734.84M | $975.07M | $1.59B | $2.33B | $3.01B | $3.93B |
| EBITDA margin | 32.4% | 21.6% | 19.5% | 23.6% | 19.4% | 23.5% | 30.3% | 14.8% | 34.8% | 31.7% | 33.1% | 36.3% | 39.7% | 42.9% | 43.6% |
| EBIT | $44.04M | $40.03M | $65.39M | $127.79M | $149.16M | $245.36M | $477.54M | $291.50M | $805.77M | $699.68M | $924.74M | $1.53B | $2.26B | $2.94B | $3.86B |
| Interest expense | $6.42M | $7.06M | $7.12M | $6.28M | $3.15M | $3.14M | $2.78M | $2.70M | $56.50M | $39.18M | $6.14M | $54.69M | — | — | — |
| Income tax | $3.59M | $11.63M | $15.81M | $34.66M | $24.91M | $58.04M | $51.56M | $-39.31M | $2.40M | $104.31M | $90.03M | $229.35M | $334.70M | $412.98M | $738.30M |
| Effective tax rate | 9.5% | 35.3% | 27.1% | 28.5% | 17.1% | 24.0% | 10.9% | -13.6% | 0.3% | 14.1% | 9.7% | 14.5% | 13.8% | 12.6% | 17.4% |
| Net income | $34.03M | $21.35M | $42.46M | $86.85M | $121.10M | $184.19M | $423.20M | $328.12M | $859.87M | $634.56M | $840.85M | $1.35B | $2.09B | $2.85B | $3.51B |
| Net income growth (YoY) | — | -37.3% | +98.9% | +104.5% | +39.4% | +52.1% | +129.8% | -22.5% | +162.1% | -26.2% | +32.5% | +60.8% | +54.3% | +36.6% | +23.1% |
| Profit margin | 24.3% | 11.0% | 11.8% | 14.9% | 14.5% | 16.3% | 25.7% | 15.3% | 35.7% | 27.4% | 28.5% | 30.9% | 35.6% | 40.7% | 39.0% |