Cloud networking company supplying high-performance switches and software for AI data centers, enterprise campuses, and service providers.
Profile & Fundamentals
Arista Networks: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Arista Networks Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
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.
Company profile record
Arista Networks
Common Stock · Information Technology · Communications Equipment
Company
- Company / asset
- Arista Networks
- Security type
- Common Stock
- Sector
- Information Technology
- Industry
- Communications Equipment
- HQ
- 🇺🇸 United States
- Head office
- 5453 Great America Parkway, Santa Clara, CA, United States, 95054
Leadership & scale
- Chief executive
- Ms. Jayshree V. Ullal
- CEO year born
- 1961
- Full-time employees
- 5.1K
- Fiscal year end
- December
- IPO date
- 2014-06-06
Fundamentals snapshot
- Market Cap
- USD 274.6B
- P/E
- 67.9x
- Revenue (Q2 26)
- USD 3.0B
- Profit (Q2 26)
- USD 1.2B
- Dividend Yield
- --
- Revenue (FY 25)
- USD 9.0B
- Shares in public float
- 1B
- Insider ownership
- 17.25%
Reporting & identifiers
- Symbol
- ANET.NYSE
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US0404132054
- Asset ID
- equity_a848a16a-f190-5ccf-a351-a1fcb6863362
Ownership
Shares Outstanding
Latest: 1.3B | Max: 1.3B | Min: 1.3B
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
82.34%
1.0B latest reported shares
Insider Ownership
17.25%
Latest reported insider stake
Short Float
0.01%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 1,283,888,000 |
| 2018-01-01 | 1,294,848,000 |
| 2019-01-01 | 1,284,176,000 |
| 2020-01-01 | 1,268,176,000 |
| 2021-01-01 | 1,279,012,000 |
| 2022-01-01 | 1,260,804,000 |
| 2023-01-01 | 1,275,380,000 |
| 2024-01-01 | 1,283,370,000 |
| 2025-01-01 | 1,275,800,000 |
| 2026-01-01 | 1,274,900,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| BlackRock Inc | 91,907,642 | 7.29% | 2026-03-31 |
| Vanguard Capital Management, LLC | 68,270,206 | 5.41% | 2026-03-31 |
| FMR Inc | 52,306,626 | 4.15% | 2026-03-31 |
| State Street Corp | 46,761,991 | 3.71% | 2026-03-31 |
| Vanguard MStar Total Stk Mkt Idx Invest | 34,016,314 | 2.7% | 2026-08-31 |
| T. Rowe Price Associates, Inc. | 29,321,973 | 2.32% | 2026-03-31 |
| Vanguard 500 Index Investor | 27,430,063 | 2.17% | 2026-08-31 |
| Geode Capital Management, LLC | 27,229,280 | 2.16% | 2026-03-31 |
| Vanguard Portfolio Management, LLC | 25,839,674 | 2.05% | 2026-03-31 |
| Cresset Asset Management, LLC | 20,692,711 | 1.64% | 2026-03-31 |
| Morgan Stanley - Brokerage Accounts | 18,505,177 | 1.47% | 2026-03-31 |
| iShares Core S&P 500 ETF | 13,749,770 | 1.09% | 2026-08-31 |
| Fidelity 500 Index | 13,351,905 | 1.06% | 2026-07-31 |
| Capital Research Global Investors | 13,164,137 | 1.04% | 2026-06-30 |
| State Street® SPDR® S&P 500® ETF | 12,655,908 | 1% | 2026-08-31 |
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Arista's financial performance highlights extraordinary operational momentum driven by the global buildout of artificial intelligence data centers. In the second quarter of 2026, revenue surged 37.7% year-over-year to 3.04 billion dollars, while trailing twelve-month revenue reached 10.54 billion dollars. This top-line acceleration stems from cloud titans buying massive volumes of high-speed 800-gigabit switching systems to connect AI processors. Cash generation was equally impressive, producing over five billion dollars in trailing free cash flow. However, the impressive headlines conceal a critical dependency. Two major cloud titans account for roughly 42% of sales, giving them immense bargaining power. While current earnings reflect genuine operational strength rather than accounting gimmicks, future earnings durability remains heavily exposed to the budgeting cycles of those two dominant customers.
Arista's financial performance highlights extraordinary operational momentum driven by the global buildout of artificial intelligence data centers. In the second quarter of 2026, revenue surged 37.7% year-over-year to 3.04 billion dollars, while trailing twelve-month revenue reached 10.54 billion dollars. This top-line acceleration stems from cloud titans buying massive volumes of high-speed 800-gigabit switching systems to connect AI processors. Cash generation was equally impressive, producing over five billion dollars in trailing free cash flow. However, the impressive headlines conceal a critical dependency. Two major cloud titans account for roughly 42% of sales, giving them immense bargaining power. While current earnings reflect genuine operational strength rather than accounting gimmicks, future earnings durability remains heavily exposed to the budgeting cycles of those two dominant customers.
Revenue, Net Income, and Free Cash Flow
Latest: USD 9.0B | Max: USD 9.0B | Min: USD 110.0M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 48x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Arista generates software-grade profitability within a hardware business, supported by operating margins that reached 42.8% in fiscal 2025. This exceptional profitability is powered by its proprietary operating system, which provides network reliability that customers cannot easily abandon. The company's lean operating structure allows incremental sales to drop directly to the bottom line, keeping net margins near thirty-nine percent. Beneath this operational leverage, however, gross margins have shown subtle erosion, falling from 65.6% to 63.4% year-over-year in recent results. Selling larger switch volumes to massive cloud titans requires volume price concessions and expensive optical components. Operating leverage has temporarily masked this pricing concession, but long-term profitability will face pressure as AI hardware commoditizes.
Arista generates software-grade profitability within a hardware business, supported by operating margins that reached 42.8% in fiscal 2025. This exceptional profitability is powered by its proprietary operating system, which provides network reliability that customers cannot easily abandon. The company's lean operating structure allows incremental sales to drop directly to the bottom line, keeping net margins near thirty-nine percent. Beneath this operational leverage, however, gross margins have shown subtle erosion, falling from 65.6% to 63.4% year-over-year in recent results. Selling larger switch volumes to massive cloud titans requires volume price concessions and expensive optical components. Operating leverage has temporarily masked this pricing concession, but long-term profitability will face pressure as AI hardware commoditizes.
Profitability Margins
Latest: 64.1% | Max: 64.5% | Min: 12.7%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
64.1%
Gross profit / revenue
Operating Margin
42.8%
Operating income / revenue
Net Margin
39.0%
Net income / revenue
FCF Margin
47.2%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 1,129,167,000 | 184,189,000 | 110,021,000 |
| 2017-12-31 | 1,646,186,000 | 423,201,000 | 616,348,000 |
| 2018-12-31 | 2,151,369,000 | 328,115,000 | 479,289,000 |
| 2019-12-31 | 2,410,706,000 | 859,867,000 | 947,283,000 |
| 2020-12-31 | 2,317,512,000 | 634,557,000 | 719,730,000 |
| 2021-12-31 | 2,948,037,000 | 840,854,000 | 951,120,000 |
| 2022-12-31 | 4,381,310,000 | 1,352,446,000 | 448,169,000 |
| 2023-12-31 | 5,860,168,000 | 2,087,321,000 | 1,999,580,000 |
| 2024-12-31 | 7,003,100,000 | 2,852,100,000 | 3,676,203,000 |
| 2025-12-31 | 9,005,700,000 | 3,511,400,000 | 4,252,400,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 47.61 | Trailing four quarters |
| 2024-12-31 | 49.74 | Trailing four quarters |
| 2023-12-31 | 143.9 | Trailing four quarters |
| 2022-12-31 | 113.13 | Annual net income |
| 2021-12-31 | 218.66 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 64.04 | 21.56 | 16.31 | 9.74 |
| 2017-12-31 | 64.5 | 28.57 | 25.71 | 37.44 |
| 2018-12-31 | 63.84 | 12.71 | 15.25 | 22.28 |
| 2019-12-31 | 64.06 | 33.42 | 35.67 | 39.29 |
| 2020-12-31 | 63.94 | 30.19 | 27.38 | 31.06 |
| 2021-12-31 | 63.8 | 31.37 | 28.52 | 32.26 |
| 2022-12-31 | 61.07 | 34.86 | 30.87 | 10.23 |
| 2023-12-31 | 61.95 | 38.52 | 35.62 | 34.12 |
| 2024-12-31 | 64.13 | 42.05 | 40.73 | 52.49 |
| 2025-12-31 | 64.06 | 42.82 | 38.99 | 47.22 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-29.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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