Stock · ANET · Technology
United States · Large Cap · listed since 2014 · Revenue 12 mo. $10.5B
Price as of 11/06/2026
Summary
57.9 of 100
Mean of the six area values. Each area value is the mean of the stock's ranks among the companies in its sector. 50 is the middle of the sector, not a share of companies beaten.
Analysis
What the price requires
If free cash flow stays at €3.8B (2025), it supports €42.4B. The remaining €156.5B of the market value assume it grows 21.5% a year for 10 years and not at all afterwards.
Required FCF growth per year
21.5%
no growth afterwards
Price to operating cash flow 41.0×, within its usual range.
Middle half of 20 quarters: 36.8× to 45.3×, median 39.6×.
Measures only against its own past, not against what the company is worth. Price as of 11/06/2026.
with respect to the priced-in expectation
with respect to the priced-in expectation
No anomaly in the stored figures.
AI summary of the 2025 annual report
A language model selected and condensed statements from the report. Each statement carries a verbatim quote. The selection is not complete and shows the state of the report. It gives no rating and does not feed into the score.
Form 10-K, fiscal year ended 12/31/2025, filed 02/17/2026. Open the report at the SEC
Campus products include spine switches, leaf switches with Power-over-Ethernet (PoE) and Wi-Fi access points, all managed through CloudVision.
We offer a robust set of solutions, ranging from modular and fixed-form-factor campus spine switches to Power-over-Ethernet ("PoE") leaf switches and Wi-Fi access points, all managed through CloudVision®.The company's 7280R4 Universal Leaf and 7500R3 and 7800R4 Universal Spine routing platforms serve uses such as data center interconnect, peering, business VPNs and core routing.
Our 7280R4 Universal Leaf and 7500R3 and 7800R4 Universal Spine platforms serve a variety of use cases, including high-speed multi-cloud connect, Data Center Interconnect (DCI), controller-based traffic engineering, peering, business VPNs, core routing, and secure enterprise edge routing.Partners usually get an order from an end customer before they order from the company.
Our partners typically receive an order from an end customer before placing an order with us, and we verify the end customer's identification before accepting such orders.The Etherlink product family has over twenty products for AI Scale Out and Scale Across use cases today, and for Scale Up in the future.
The Arista Etherlink portfolio comprises a family of over twenty products designed to support the diverse range of AI Scale Out and Scale Across use cases today and Scale Up in the future.Customers include large cloud companies, other internet and service providers including AI Neoclouds, and enterprises such as financial services organizations and government agencies.
Our customers include large cloud customers or Cloud and AI Titans, other internet and service providers, including specialty and AI Neoclouds, and a wide breadth of enterprise customers, including financial services organizations and government agencies.Enterprise customers include companies in media and entertainment, healthcare, oil and gas, education, manufacturing and industrial sectors, among others.
We continue to diversify the types of enterprise customers we serve and have expanded our presence across a wide spectrum of industries, including media and entertainment, healthcare, oil and gas, education, manufacturing and industrial sectors, among others.Data center and campus networking have historically been dominated by Cisco. Other named rivals include Dell/EMC, Extreme Networks, Hewlett Packard Enterprise, Huawei, Juniper Networks and Nvidia.
The data center and campus networking markets have historically been dominated by Cisco, with competition also coming from other large network equipment and system vendors, including Dell/EMC, Extreme Networks, Hewlett Packard Enterprise, Huawei, Juniper Networks, Nvidia, and white box networking vendors that utilize open-source operating systems.Cisco acquired Acacia Communications, and Hewlett Packard Enterprise acquired Juniper Networks. Other deals are named too.
For example, Cisco acquired Acacia Communications, Broadcom acquired Brocade Communications and VMware, Dell acquired Force10 Networks, Hewlett Packard Enterprise acquired Juniper Networks, and Nvidia has made significant investment in several AI Neoclouds.Ethernet in AI back-end networking clusters faces competition from InfiniBand and NVLink interconnects.
Ethernet, faces competition from both InfiniBand ("IB") and NVLink interconnects for back-end AI networking clusters.The company relies mainly on Broadcom for its switching chips.
In particular, we are primarily reliant upon our predominant merchant silicon vendor, Broadcom, for our switching chips.In 2025, two customers accounted for 26% and 16% of total revenue.
Two of our customers accounted for more than 10% of our sales for the year ended December 31, 2025. Sales to these two customers represented 26% and 16% of our total revenue for the year ended December 31, 2025, respectively.The company may not be able to pass on all higher trade-related costs to partners or customers, which could hurt profitability and competitiveness.
We also may not be able to pass on the full burden of the increase in trade-related costs to our partners and/or customers which could impact our profitability and/or our competitiveness.The company has no long-term contracts with its third-party manufacturers guaranteeing capacity or pricing terms.
We do not have long-term contracts with our third-party manufacturers that guarantee capacity, the continuation of particular pricing terms or the extension of credit limits.Customers may overestimate demand for their AI build-outs and may cancel, delay or change orders with little or no notice.
Customers may overestimate demand for their AI build outs and cancel, delay, reduce or otherwise modify their purchase commitments with little or no notice to us.Since the last quarter
Q1 → Q2 2026
5 more unchanged: FCF, 12 mo., Gross margin, EBIT margin, Shares outstanding, Return on equity
Derivation
Each area value is the average of its metrics' ranks within the sector (0 to 100, 50 is the middle). For metrics where lower is better, the rank is mirrored. The overall value is the average of the area values.
Price as of 11/06/2026.
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Return on equity | 28.39% | 14.60% | Rank 78 |
| Return on capital (Greenblatt) | 34.39% | 29.77% | Rank 54 |
| EBIT margin | 42.82% | 17.40% | Rank 93 |
| FCF margin | 47.22% | 18.54% | Rank 97 |
| Gross margin | 64.06% | 48.47% | Rank 68 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Revenue growth, 1 year | 28.60% | 12.70% | Rank 83 |
| Earnings growth, 3 years per year | 37.09% | 9.54% | Rank 87 |
| Earnings growth, 5 years per year | 40.71% | 14.07% | Rank 88 |
| Sustainable growth (ROE × retained earnings) | 1.33% | 2.87% | Rank 29 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Earnings yield | 1.61% | 2.64% | Rank 28 |
| FCF yield | 1.92% | 3.06% | Rank 34 |
| EV/saleslower is better | 24.39 | 5.18 | Rank 5 |
| EV/EBITlower is better | 56.96 | 26.24 | Rank 21 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Share price, 1 year | 17.84% | −0.59% | Rank 75 |
| Share price, 6 months | 20.96% | −4.46% | Rank 77 |
| Share price, 3 months | −4.34% | −5.84% | Rank 53 |
| Distance from 52-week high | −21.20% | −33.23% | Rank 70 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Accruals (Sloan)lower is better | 16.22% | 1.65% | Rank 13 |
| Change in share countlower is better | −0.42% | −0.17% | Rank 56 |
| Dividend streak in years | – | 8 | Rank 18 |
| Price reaction to results, market-adjusted | 3.61% | −1.57% | Rank 74 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Equity ratio | 63.61% | 53.98% | Rank 70 |
| Net debt/EBITDAlower is better | −0.45 | −0.20 | Rank 58 |
| Debt to equitylower is better | 0.00 | 0.33 | Rank 97 |
| Volatility, 1 yearlower is better | 54.82% | 50.37% | Rank 44 |
Ten years in figures
| Year | Revenue, $B | EBIT margin | FCF | Shares | Net debt |
|---|---|---|---|---|---|
| 2016 | 1.1 | 21.6% | $110.0M | 1.17B | −$528.3M |
| 2017 | 1.6 | 28.6% | $616.3M | 1.26B | −$821.5M |
| 2018 | 2.2 | 12.7% | $479.3M | 1.29B | −$614.5M |
| 2019 | 2.4 | 33.4% | $947.3M | 1.29B | −$1.0B |
| 2020 | 2.3 | 30.2% | $719.7M | 1.27B | −$820.8M |
| 2021 | 2.9 | 31.4% | $951.1M | 1.28B | −$564.3M |
| 2022 | 4.4 | 34.9% | $448.2M | 1.27B | −$627.7M |
| 2023 | 5.9 | 38.5% | $2.0B | 1.27B | −$1.9B |
| 2024 | 7.0 | 42.1% | $3.7B | 1.28B | −$2.8B |
| 2025 | 9.0 | 42.8% | $4.3B | 1.28B | −$2.0B |
5 of 7 StockScorer Score rules met · How the score is built
Arista Networks mainly meets criteria in the Profitability category. Result from 18 strategies checked.
Arista Networks is rated here with the StockScorer Score strategy, the flagship rule set. It compares return and cash-flow metrics with the median of the company's own sector and checks growth and price trend.
5 of 7 rules met
8 of 11 points
Detail data
Excerpt from 18 strategies checked. The full evaluation is visible after a free sign-up.
With a free account, you can see the match across all strategies checked in one complete overview.
Selected fundamental metrics for Arista Networks.
| Metric | Stock | Sector |
|---|---|---|
| P/E ratio | 62.1 | 35.1 |
| P/B ratio | 17.6 | 5.5 |
| Return on equity (ROE) | 28.4% | 14.6% |
| Equity ratio | 63.6% | 54.0% |
| Debt-to-equity (D/E) | 0.00 | 0.33 |
| Dividend yield | 0.0% | 0.9% |
How comparable stocks in the same sector score in the StockScorer model.
| Symbol | Company | Rating |
|---|---|---|
| ANET | Arista Networksthis page | |
| DELL | Dell Technologies Inc | High7.3 |
| SNDK | Sandisk Corp | High9.1 |
| WDC | Western Digital Corporation | High9.1 |
| STX | Seagate Technology PLC | locked |
| 688041.SS | Hygon Information Technology Co. Ltd. A | locked |
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