14 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $9.0B | $3511 | 64.1% | 42.8% | $4.3B | — | $2.0B |
| 2024 | $7.0B | $2852 | 64.1% | 42.0% | $3.7B | — | $2.8B |
| 2023 | $5.9B | $2087 | 61.9% | 38.5% | $2.0B | — | $1.9B |
| 2022 | $4.4B | $1352 | 61.1% | 34.9% | $448M | — | $672M |
| 2021 | $2.9B | $841 | 63.8% | 31.4% | $951M | — | $621M |
| 2020 | $2.3B | $635M | 63.9% | 30.2% | $720M | — | $893M |
| 2019 | $2.4B | $860M | 64.1% | 33.4% | $947M | — | $1.1B |
| 2018 | $2.2B | $328M | 63.8% | 12.7% | $479M | — | $650M |
| 2017 | $1.6B | $423M | 64.5% | 28.6% | — | — | $859M |
| 2016 | $1.1B | $184M | 64.0% | 21.6% | — | — | $568M |
| 2015 | — | $121M | — | — | — | — | $687M |
| 2014 | — | $87M | — | — | — | — | $240M |
| 2013 | — | $42M | — | — | — | $99M | $114M |
| 2012 | — | $21M | — | — | — | — | $89M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $2.7B | $1.0B | 61.9% | 42.7% | $1.6B | — | $2.8B |
| Dec '25 | $2.5B | $956M | 62.9% | 41.5% | — | — | $2.0B |
| Sep '25 | $2.3B | $853M | 64.6% | 42.4% | $1.2B | — | $2.3B |
| Jun '25 | $2.2B | $889M | 65.2% | 44.7% | $1.2B | — | $2.2B |
| Mar '25 | $2.0B | $814M | 63.7% | 42.8% | $613M | — | $1.8B |
| Dec '24 | $1.9B | $801M | 63.8% | 41.4% | — | — | $2.8B |
| Sep '24 | $1.8B | $748M | 64.2% | 43.4% | $1.2B | — | $3.2B |
| Jun '24 | $1.7B | $665M | 64.9% | 41.4% | $986M | — | $2.4B |
| Mar '24 | $1.6B | $638M | 63.7% | 42.0% | $504M | — | $2.1B |
| Dec '23 | $1.5B | $614M | 64.9% | 41.5% | — | — | $1.9B |
| Sep '23 | $1.5B | $545M | 62.4% | 39.9% | $688M | — | $1.7B |
| Jun '23 | $1.5B | $492M | 60.6% | 36.3% | $423M | — | $1.3B |
| Mar '23 | $1.4B | $436M | 59.5% | 35.9% | $369M | — | $956M |
| Dec '22 | $1.3B | $427M | 60.3% | 36.8% | — | — | $672M |
| Sep '22 | $1.2B | $354M | 60.3% | 35.5% | $124M | — | $716M |
| Jun '22 | $1.1B | $299M | 61.2% | 34.5% | $92M | — | $493M |
| Mar '22 | $877M | $272M | 63.1% | 31.7% | $202M | — | $635M |
| Dec '21 | $824M | $239M | 63.4% | 32.2% | — | — | $621M |
| Sep '21 | $749M | $224M | 63.9% | 31.2% | $227M | — | $631M |
| Jun '21 | $707M | $197M | 64.2% | 31.0% | $259M | — | $894M |
How the market has priced ANET against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Arista Networks's revenue has grown 31.2% per year, and net income declined 91.1% per year. These are computed facts, not advice.
As of FY2025, Arista Networks reported — of total debt against $2.0B of cash.
In FY2025, gross margin was 64.1%, operating margin 42.8%, and net margin 0.0%.
As of Jun '26, Arista Networks traded at a price-to-earnings ratio of about 59388025.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.