Arista Networks (ANET) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Arista Networks

NYSE•Technology•Computer Hardware

$199.53+1.99(0.01%)After hours

Market Cap

$243.00B

P/E

60.1x

P/S

23.1x

P/B

16.4x

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. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications. The company offers data center, cloud and AI networking, cognitive adjacencies, and cognitive network software and services. It also provides post contract customer support services, such as technical support, hardware repair and replacement parts beyond standard warranty, bug fixes, patches, and upgrade services. The company serves a range of industries comprising internet companies, cloud service providers, financial services organizations, government agencies, media and entertainment, healthcare, oil and gas, education, manufacturing, industrial, and others. It markets and sells its products through distributors, system integrators, value-added resellers, and original equipment manufacturer partners, as well as through its direct sales force. Arista Networks, Inc. was formerly known as Arastra, Inc. and changed its name to Arista Networks, Inc. in October 2008. The company was incorporated in 2004 and is headquartered in Santa Clara, California.

How this company scores

ExcellentMetricSide Score: 89/100

Strongest: Profitability (25/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability25/25

Growth24/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality25/25

Strengths

Growing revenueRising free cash flowStrong marginsHigh ROE

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 60.1x5y range 27.5x – 60.1x

Currently above its 20-quarter median.

P/S · 23.1x5y range 8.3x – 23.1x

Currently above its 20-quarter median.

P/B · 16.4x5y range 6.9x – 16.4x

Price & Volume

Market Cap $243.00B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $10.54B
Q. Revenue: $3.04B
TTM EBITDA: $4.64B
TTM Op. Income: $4.55B
Q. Op. Income: $1.38B
TTM Net Income: $4.04B
Q. Net Income: $1.21B
EPS: $0.96
Shares Out.: $1.26B

$10.54B in TTM revenue grew 32.6% YoY, reaching $3.04B last quarter. TTM EBITDA of $4.64B and TTM operating income of $4.55B show growth is flowing through to the bottom line. TTM net income of $4.04B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 62.9%
EBITDA Margin: 46.2%
Op. Margin: 45.4%
Net Margin: 40.0%

Op. margin of 45.4% is up 0.7% YoY — cost efficiency is improving. Net margin at 40.0% and gross margin of 62.9% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 60.1x
P/S Ratio: 23.1x
P/B Ratio: 16.4x

At 60.1x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 23.1x and P/B of 16.4x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 52% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $23.72B
Cash: $2.29B
Long-Term Debt: N/A
Book Value: $14.80B
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.08B
TTM Free Cash Flow: $5.16B
FCF Margin: 48.9%
FCF / Net Income: 1.3

TTM FCF of $5.16B on $1.08B in operating cash flow. The FCF / Net Income ratio of 1.3x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 30% — a weakening trend.