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Arista Networks, Inc. ANET

NYSE · stock · Computer Communications Equipment · website · IPO 2014-06-06 · LEI

Arista Networks, Inc. statistics & valuation

Market cap$198.5B
P / E56.5×
P / S22.0×
P / B16.0×
Net margin39.0%
Return on equity28.4%
Return on capital27.4%
Graham number -88.4%$24.49

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($24.49); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
16.30% 25.70% 15.30% 35.70% 27.40% 28.50% 30.90% 35.60% 40.70% 39.00% 2016201720182019202020212022202320242025
Gross margin (%)
64.00% 64.50% 63.80% 64.10% 63.90% 63.80% 61.10% 61.90% 64.10% 64.10% 2016201720182019202020212022202320242025
Operating margin (%)
21.60% 28.60% 12.70% 33.40% 30.20% 31.40% 34.90% 38.50% 42.00% 42.80% 2016201720182019202020212022202320242025
Return on equity (%)
16.60% 25.50% 15.30% 29.70% 19.10% 21.10% 27.70% 28.90% 28.50% 28.40% 2016201720182019202020212022202320242025
Shares outstanding
1.17B 1.26B 1.29B 1.29B 1.27B 1.28B 1.27B 1.27B 1.28B 1.28B 2016201720182019202020212022202320242025
Net debt ($)
2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
10.70% 17.20% 10.60% 20.50% 13.40% 14.70% 20.00% 21.00% 20.30% 18.10% 2016201720182019202020212022202320242025
Free cash flow margin (%)
13.50% 37.40% 22.30% 39.30% 2016201720182019202020212022202320242025
Debt / equity (×)
2016201720182019202020212022202320242025
EPS ($)
$0.16 $0.33 $0.25 $0.67 $0.50 $0.66 $1.07 $1.65 $2.23 $2.75 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Arista Networks, Inc. trades at about 76.5× earnings — above its 10-year norm (10-year range 21×–52.9×, median 47.3×).

21× 76.5×

Shaded band = 10-year range (21×–52.9×); dot = today's 76.5×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin64.1%64.1%61.9%61.1%63.8%63.9%64.1%63.8%64.5%64.0%
Operating margin42.8%42.0%38.5%34.9%31.4%30.2%33.4%12.7%28.6%21.6%
Net margin39.0%40.7%35.6%30.9%28.5%27.4%35.7%15.3%25.7%16.3%
FCF margin——————39.3%22.3%37.4%13.5%
Return on assets18.1%20.3%21.0%20.0%14.7%13.4%20.5%10.6%17.2%10.7%
Return on equity28.4%28.5%28.9%27.7%21.1%19.1%29.7%15.3%25.5%16.6%
Current ratio3.054.364.384.294.344.995.814.484.283.32

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.