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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 2026-07-12

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 $219 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.

Interactive charts & full statements → Open the ANET valuation workbench →

ANET Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31
Total Revenue	$9.7B	$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	$6.2B	$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 %	63.5%	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)	$4.2B	$3.9B	$2.9B	$2.3B	$1.5B	$925M	$700M	$806M	$273M	$470M	$243M	$149M	$126M	$66M	$40M	$44M
Operating Margin %	42.8%	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	$3.7B	$3.5B	$2.9B	$2.1B	$1.4B	$841M	$635M	$860M	$328M	$423M	$184M	$121M	$87M	$42M	$21M	$34M
Net Margin %	38.3%	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	$4.6B	$4.3B	$3.3B	$2.5B	$1.6B	$981M	$735M	$839M	$319M	$498M	$265M	$163M	$138M	$70M	$42M	$45M
Earnings Per Share (EPS)	$2.92	$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)	1,274M	1,276M	1,281M	1,269M	1,266M	1,277M	1,271M	1,294M	1,294M	1,264M	1,172M	1,143M	873M	1,294M	1,294M	865M

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 statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$2.7B	$2.5B	$2.3B	$2.2B	$2.0B	$1.9B	$1.8B	$1.7B
Gross Profit	$1.7B	$1.6B	$1.5B	$1.4B	$1.3B	$1.2B	$1.2B	$1.1B
Gross Margin %	61.9%	62.9%	64.6%	65.2%	63.6%	63.8%	64.1%	64.9%
Operating Income (EBIT)	$1.2B	$1.0B	$978M	$986M	$859M	$800M	$785M	$700M
Operating Margin %	42.7%	41.5%	42.4%	44.7%	42.8%	41.4%	43.4%	41.4%
Net Income	$1.0B	$956M	$853M	$889M	$814M	$801M	$748M	$665M
Net Margin %	37.8%	38.4%	37.0%	40.3%	40.6%	41.5%	41.3%	39.4%
EBITDA	$1.3B	$1.2B	$1.1B	$1.1B	$969M	$904M	$898M	$786M
Earnings Per Share (EPS)	$0.80	$0.75	$0.67	$0.70	$0.64	$0.62	$0.58	$0.52
Shares Outstanding (M)	1,274M	1,276M	1,277M	1,271M	1,279M	1,283M	1,282M	1,280M

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

ANET Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31
Cash from Operations (CFO)	$5.4B	$4.4B	$3.7B	$2.0B	$493M	$1.0B	$735M	$963M	$503M	$632M	$131M	$201M	$115M	$35M	$26M	$12M
Capital Expenditures (CapEx)	$146M	$120M	$32M	$34M	$45M	$65M	$15M	$16M	$24M	$15M	$21M	$20M	$13M	$20M	$3M	$3M
Free Cash Flow (FCF)	$5.3B	$4.3B	$3.7B	$2.0B	$448M	$951M	$720M	$947M	$479M	$616M	$110M	$181M	$101M	$14M	$23M	$10M
FCF Margin %	54.4%	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 flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$1.7B	$1.3B	$1.3B	$1.2B	$642M	$1.0B	$1.2B	$989M
Capital Expenditures (CapEx)	$54M	$37M	$30M	$24M	$28M	$12M	$7M	$3M
Free Cash Flow (FCF)	$1.6B	$1.2B	$1.2B	$1.2B	$613M	$1.0B	$1.2B	$986M
FCF Margin %	60.5%	49.2%	53.6%	53.3%	30.6%	52.8%	64.5%	58.3%

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

ANET Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31
Total Assets	$21.7B	$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	$2.8B	$2.0B	$2.8B	$1.9B	$672M	$621M	$893M	$1.1B	$650M	$859M	$568M	$687M	$240M	$114M	$89M
Total Liabilities	$8.2B	$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	$13.5B	$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.

Other Companies in Communications Equipment

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CIEN · Ciena — $55 billion
FFIV · F5, Inc. — $22 billion

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