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Arista Networks (ANET) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

TECHNOLOGY · Communications Equipment · DATA UPDATED 2026-08-13

Arista Networks (ANET) operates in the Communications Equipment industry and is headquartered in Santa Clara, United States with about 5,115 employees. Its market capitalization is roughly $251 billion. In the fiscal year ended 2025-12-31, ANET reported $9.0B in revenue and $3.5B in net income.

Arista Networks, Inc. engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for AI, data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific.

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ANET Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-31
Total Revenue$10.5B$9.0B$7.0B$5.9B$4.4B$2.9B$2.3B$2.4B$2.2B$1.6B$1.1B$838M$584M$361M$193M$140M
Gross Profit$6.6B$5.8B$4.5B$3.6B$2.7B$1.9B$1.5B$1.5B$1.4B$1.1B$723M$544M$392M$239M$132M$96M
Gross Margin %63.0%64.1%64.1%62.0%61.1%63.8%63.9%64.1%63.8%64.5%64.0%64.9%67.1%66.0%68.3%69.0%
Operating Income (EBIT)$4.5B$3.9B$2.9B$2.3B$1.5B$925M$700M$806M$273M$470M$243M$149M$126M$66M$40M$44M
Operating Margin %43.1%42.8%42.0%38.5%34.9%31.4%30.2%33.4%12.7%28.6%21.6%17.8%21.5%18.3%20.6%31.8%
Net Income$4.0B$3.5B$2.9B$2.1B$1.4B$841M$635M$860M$328M$423M$184M$121M$87M$42M$21M$34M
Net Margin %38.4%39.0%40.7%35.6%30.9%28.5%27.4%35.7%15.2%25.7%16.3%14.5%14.9%11.8%11.0%24.3%
EBITDA$5.1B$4.3B$3.3B$2.5B$1.6B$981M$735M$839M$319M$498M$265M$163M$138M$70M$42M$45M
Earnings Per Share (EPS)$3.17$2.75$2.23$1.65$1.07$0.66$0.50$0.66$0.25$0.33$0.16$0.11$0.10$0.03$0.02$0.04
Shares Outstanding (M)1,275M1,276M1,281M1,269M1,266M1,277M1,271M1,294M1,294M1,264M1,172M1,143M873M1,294M1,294M865M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ANET Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-30
Total Revenue$3.0B$2.7B$2.5B$2.3B$2.2B$2.0B$1.9B$1.8B
Gross Profit$1.9B$1.7B$1.6B$1.5B$1.4B$1.3B$1.2B$1.2B
Gross Margin %62.9%61.9%62.9%64.6%65.2%63.6%63.8%64.1%
Operating Income (EBIT)$1.4B$1.2B$1.0B$978M$986M$859M$800M$785M
Operating Margin %45.4%42.7%41.5%42.4%44.7%42.8%41.4%43.4%
Net Income$1.2B$1.0B$956M$853M$889M$814M$801M$748M
Net Margin %40.0%37.8%38.4%37.0%40.3%40.6%41.5%41.3%
EBITDA$1.6B$1.3B$1.2B$1.1B$1.1B$969M$904M$898M
Earnings Per Share (EPS)$0.95$0.80$0.75$0.67$0.70$0.64$0.62$0.58
Shares Outstanding (M)1,275M1,274M1,276M1,277M1,271M1,279M1,283M1,282M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ANET Free Cash Flow History

Cash flowTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-31
Cash from Operations (CFO)$5.3B$4.4B$3.7B$2.0B$493M$1.0B$735M$963M$503M$632M$131M$201M$115M$35M$26M$12M
Capital Expenditures (CapEx)$151M$120M$32M$34M$45M$65M$15M$16M$24M$15M$21M$20M$13M$20M$3M$3M
Free Cash Flow (FCF)$5.2B$4.3B$3.7B$2.0B$448M$951M$720M$947M$479M$616M$110M$181M$101M$14M$23M$10M
FCF Margin %48.9%47.2%52.5%34.1%10.2%32.3%31.1%39.3%22.3%37.4%9.7%21.6%17.4%4.0%11.9%6.9%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ANET Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-30
Cash from Operations (CFO)$1.1B$1.7B$1.3B$1.3B$1.2B$642M$1.0B$1.2B
Capital Expenditures (CapEx)$30M$54M$37M$30M$24M$28M$12M$7M
Free Cash Flow (FCF)$1.1B$1.6B$1.2B$1.2B$1.2B$613M$1.0B$1.2B
FCF Margin %34.7%60.5%49.2%53.6%53.3%30.6%52.8%64.5%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ANET Balance Sheet History

Balance sheet2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-31
Total Assets$23.7B$19.4B$14.0B$9.9B$6.8B$5.7B$4.7B$4.2B$3.1B$2.5B$1.7B$1.2B$811M$365M$220M
Cash & Cash Equivalents$2.3B$2.0B$2.8B$1.9B$672M$621M$893M$1.1B$650M$859M$568M$687M$240M$114M$89M
Total Liabilities$8.9B$7.1B$4.0B$2.7B$1.9B$1.8B$1.4B$1.3B$939M$799M$621M$372M$255M$287M$201M
Total Debt (Short + Long-Term)$0M$0M$22M$96M$20M$227M$143M$140M$1M$172M$131M$43M$44M$142M$12M
Total Shareholders' Equity$14.8B$12.4B$10.0B$7.2B$4.9B$4.0B$3.3B$2.9B$2.1B$1.7B$1.1B$788M$556M$78M$19M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive ANET viewer.

ANET Metric Deep Dives

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