Arista Networks, Inc.

10-K & 10-Q Filings

Arista Networks is a leading company in data-driven, client to cloud networking for large data center, campus, and routing environments. The company's business strategy focuses on uncompromising quality, advanced open and standards-based technology, and a robust quality assurance capability built on a suite of automated diagnostics. Arista's products and technology consist of Core Data Center/Cloud/AI Switching Products, Adjacent Campus and Routing Products, and Network Software and Services. The company's core operating system is the Extensible Operating System (EOS), which runs on top of standard Linux and offers programmability at all layers of the stack. Arista's portfolio includes high-speed data center Ethernet switching systems, AI Ethernet switching platforms, campus wired and wireless products, advanced routing systems, and network monitoring and security solutions. The company's website is www.arista.com, and its ticker symbol is ANET.

12 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 2023CAGR %YoY %Revenue (+)
$584.11
837.59
1129.17
1646.19
2151.37
2410.71
2317.51
2948.04
4381.31
5860.17
29.20%33.75%Cost of Revenue (-)
$192.01
294.03
406.05
584.42
777.99
866.37
835.63
1067.26
1705.61
2229.89
31.32%30.74%Gross Profit (+)
$392.09
543.56
723.12
1061.77
1373.38
1544.34
1481.89
1880.78
2675.70
3630.28
28.05%35.68%Selling, General & Administrative (-)
$117.67
184.80
206.13
241.90
252.56
275.81
295.61
369.29
420.20
518.11
17.90%23.30%Research & Development (-)
$148.91
209.45
273.58
349.59
442.47
462.76
486.59
586.75
728.39
854.92
21.43%17.37%Operating Expenses (-)
$266.58
394.25
479.71
591.50
1100.03
738.56
782.20
956.04
1148.59
1373.03
19.98%19.54%Costs & Expenses (Total) (-)
$458.59
688.28
885.76
1175.91
1878.02
1604.93
1617.83
2023.30
2854.20
3602.92
25.74%26.23%Operating Income/Loss (+)
$125.51
149.31
243.41
470.27
273.35
805.77
699.68
924.74
1527.11
2257.25
37.86%47.81%Non-operating Income/Expense (+)
$-4.00
-3.30
-1.18
4.49
15.45
56.50
39.18
6.14
54.69
164.78
201.29%Interest Expense (-)
$0.78
2.70
Earnings before Tax (+)
$121.51
146.01
242.22
474.76
288.80
862.27
738.86
930.88
1581.80
2422.03
39.44%53.12%Tax Expense (-)
$34.66
24.91
58.04
51.56
-39.31
2.40
104.31
90.03
229.35
334.70
28.66%45.94%Income/Loss (Continuing Operations) (+)
$86.85
121.10
184.19
423.20
328.12
859.87
634.56
840.85
1352.45
2087.32
42.37%54.34%Net Income/Loss (+)
$86.85
121.10
184.19
423.20
328.12
859.87
634.56
840.85
1352.45
2087.32
42.37%54.34%Net Income/Loss (Common) (+)
$68.89
119.11
182.97
422.40
327.93
859.44
634.56
840.85
1352.45
2087.32
46.08%54.34%EPS (Basic)
$1.42
1.81
2.66
5.85
4.39
11.26
8.35
2.74
4.41
6.75
18.91%53.06%EPS (Diluted)
$1.29
1.67
2.50
5.35
4.06
10.63
7.99
2.63
4.27
6.58
19.85%54.10%Weighted Avg Shares (Basic)
48.43
65.96
68.77
72.26
74.75
76.31
75.98
306.51
306.47
309.35
22.88%0.94%Weighted Avg Shares (Diluted)
54.59
71.41
73.22
78.98
80.84
80.88
79.47
319.24
316.46
317.13
21.59%0.21%Cash
$240.03
687.33
567.92
859.19
649.95
1111.29
893.22
620.81
671.71
1938.61
26.13%188.61%Short-term Investments
$209.43
299.91
676.36
1306.20
1613.08
1979.65
2787.50
2352.02
3069.36
34.76%30.50%Receivables
$96.98
144.26
253.12
247.35
331.78
391.99
389.54
516.51
923.10
1024.57
29.95%10.99%Inventory
$80.52
92.13
236.49
306.20
264.56
243.82
479.67
650.12
1289.71
1945.18
42.45%50.82%Prepaid Expenses (Current)
$40.27
50.61
168.68
177.33
162.32
111.46
94.92
237.74
314.22
412.52
29.50%31.28%Other Assets (Current)
$12.25
Assets (Current)
$679.48
974.33
1526.13
2266.43
2714.80
3471.64
3837.00
4812.68
5550.75
8390.24
32.22%51.16%Securities & Long-term Investments
$
30.34
4.15
8.31
20.25
39.47
Property, Plant & Equipment (Net)
$71.56
79.71
76.96
74.28
75.36
127.04
109.52
143.82
148.40
101.58
3.97%-31.55%Goodwill & Intangibles
$
112.29
100.09
312.49
281.95
388.13
357.30
-7.94%Other Assets
$59.99
105.86
125.92
120.15
149.20
482.37
471.60
475.74
648.67
1097.69
38.12%69.22%Assets (Non-current)
$131.54
185.56
202.88
194.43
367.18
713.65
901.92
921.75
1224.66
1556.57
31.59%27.10%Assets (Total)
$811.02
1159.89
1729.01
2460.86
3081.98
4185.29
4738.92
5734.43
6775.41
9946.81
32.12%46.81%Accounts Payable
$72.80
104.94
170.41
186.03
217.01
232.35
277.59
429.28
525.06
842.36
31.27%60.43%Debt (Current)
$
Other Liabilities (Current)
$71.58
130.07
289.15
343.88
389.49
364.72
490.65
680.55
768.47
1067.24
35.02%38.88%Liabilities (Current)
$144.37
235.01
459.55
529.90
606.50
597.07
768.24
1109.83
1293.53
1909.61
33.23%47.63%Debt (Non-current)
$
83.02
Other Liabilities
$110.99
136.73
161.63
269.07
332.06
610.51
650.38
646.00
596.06
818.14
24.85%37.26%Liabilities (Non-current)
$110.99
136.73
161.63
269.07
332.06
693.53
650.38
646.00
596.06
818.14
24.85%37.26%Liabilities (Total)
$255.37
371.74
621.19
798.95
938.59
1290.60
1418.63
1755.83
1889.59
2727.75
30.10%44.36%Retained Earnings
$129.81
250.92
435.11
859.11
1190.80
1788.23
2027.61
2456.82
3138.98
5114.02
50.41%62.92%AOCI
$-0.33
-0.68
-1.48
-1.94
-3.99
0.14
0.24
-8.30
-33.91
-3.33
90.19%Shareholder's Equity
$555.66
788.15
1107.82
1661.91
2143.39
2894.69
3320.29
3978.60
4885.82
7219.06
32.97%47.76%Liabilities & Equity
$811.02
1159.89
1729.01
2460.86
3081.98
4185.29
4738.92
5734.43
6775.41
9946.81
32.12%46.81%Net Income/Loss
$86.85
121.10
184.19
423.20
328.12
859.87
634.56
840.85
1352.45
2087.32
42.37%54.34%Depreciation & Amortization
$10.55
15.14
21.24
20.64
27.67
32.85
44.59
50.33
62.70
70.63
23.53%12.65%Increase/Decrease in Working Capital
$-33.18
-80.65
68.45
-102.48
-103.59
-40.80
85.69
6.88
912.82
15.92
-98.26%Share-based Compensation
$27.62
45.30
59.03
75.43
91.20
101.28
137.04
186.88
230.93
296.76
30.19%28.50%Adjustments to Reconcile Net Income
$45.02
79.43
-52.75
208.43
175.00
103.17
100.56
175.00
-859.63
-53.31
93.80%Net Cash (Operating)
$131.88
200.53
131.44
631.63
503.12
963.03
735.11
1015.86
492.81
2034.01
35.53%312.74%Capital Expenditure
$13.13
19.99
21.42
15.28
120.65
-11.10
242.80
64.74
189.73
32.63
10.64%-82.80%Net Cash (Investing)
$-249.36
184.17
-325.98
-392.58
-755.11
-284.07
-608.80
-925.56
216.33
-687.45
-417.78%Increase/Decrease in Debt
$-20.00
Increase/Decrease in Equity
$8.02
9.37
10.33
57.11
53.66
-208.76
-337.62
-344.40
-621.88
-50.19
91.93%Net Cash (Financing)
$243.98
63.10
75.60
51.47
42.85
-217.96
-346.34
-360.88
-654.60
-83.75
87.21%Cash Taxes Paid
$44.77
6.59
39.64
44.22
17.57
32.83
82.60
189.77
383.82
665.99
34.98%73.52%Effect of Exchange Rate
$-0.12
-0.51
-0.46
0.75
-1.39
0.35
1.97
-1.82
-3.61
0.68
118.69%Increase/Decrease in Cash
$126.37
447.30
-119.40
291.27
-210.53
461.35
-218.06
-272.40
50.93
1263.49
29.15%2380.93%Cash (Beginning)
$113.66
240.03
687.33
567.92
864.70
654.16
1115.52
897.45
625.05
675.98
21.91%8.15%Cash (Ending)
$240.03
687.33
567.92
859.19
654.16
1115.52
897.45
625.05
675.98
1939.46
26.13%186.91%NOPAT
$79.27
142.57
203.58
426.47
310.56
775.09
621.46
736.22
1156.56
1636.57
39.99%41.50%Gross Margin %
67.13%
64.90%
64.04%
64.50%
63.84%
64.06%
63.94%
63.80%
61.07%
61.95%
Operating Margin %
21.49%
17.83%
21.56%
28.57%
12.71%
33.42%
30.19%
31.37%
34.86%
38.52%
NOPAT Margin %
13.57%
17.02%
18.03%
25.91%
14.44%
32.15%
26.82%
24.97%
26.40%
27.93%
Net Margin %
14.87%
14.46%
16.31%
25.71%
15.25%
35.67%
27.38%
28.52%
30.87%
35.62%
Tax Rate %
36.85%
4.51%
16.36%
9.31%
-13.61%
3.81%
11.18%
20.39%
24.26%
27.50%
ROA
9.77%
12.29%
11.77%
17.33%
10.08%
18.52%
13.11%
12.84%
17.07%
16.45%
ROE
14.27%
18.09%
18.38%
25.66%
14.49%
26.78%
18.72%
18.50%
23.67%
22.67%
ROIC
33.14%
50.83%
38.18%
69.71%
41.43%
96.79%
56.76%
54.32%
44.61%
53.64%
Asset Turnover
0.72
0.72
0.65
0.67
0.70
0.58
0.49
0.51
0.65
0.59
Inventory Turnover
2.38
3.19
1.72
1.91
2.94
3.55
1.74
1.64
1.32
1.15
Equity Multiplier
1.46
1.47
1.56
1.48
1.44
1.45
1.43
1.44
1.39
1.38
Current Ratio
4.71
4.15
3.32
4.28
4.48
5.81
4.99
4.34
4.29
4.39
Quick Ratio
3.78
3.54
2.44
3.36
3.77
5.22
4.25
3.54
3.05
3.16
Debt/Equity Ratio
0.03
Working Capital/Sales
0.29
0.24
0.40
0.33
0.26
0.24
0.29
0.32
0.47
0.44
R&D/Sales
0.25
0.25
0.24
0.21
0.21
0.19
0.21
0.20
0.17
0.15
Total Payout
$11.98
-9.37
-10.33
-57.11
-53.66
208.76
337.62
344.40
621.88
50.19
17.25%-91.93%Payout Ratio %
15.11%
-6.57%
-5.07%
-13.39%
-17.28%
26.93%
54.33%
46.78%
53.77%
3.07%