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MARKETS / NYSE / ANET
NYSE · COMPUTER COMMUNICATIONS EQUIPMENT · LARGE CAP

Arista Networks, Inc. ANET

14 fiscal years on record · USD · FY2025 reported · SEC filings only
$9.0B
▲ 28.6% YoY
$3.5B
▲ 23.1% YoY
$4.3B
▲ 15.7% YoY
In brief

What this company does

The core of Arista's cloud networking-as-a-service platform is its data-driven operating system, EOS, which runs on top of standard Linux and offers programmability at all layers of the stack. As of December 31, 2025, Arista employed approximately 5,115 full-time employees worldwide. Its 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. Two of its customers accounted for more than 10% of its sales for the year ended December 31, 2025, and sales to these two customers represented 26% and 16% of its total revenue for that year, respectively. The company markets and sells its products through its direct sales force and in partnership with its channel partners, including distributors, value-added resellers, systems integrators and original equipment manufacturer (OEM) partners. The company subcontracts the manufacturing of the majority of its products to various contract manufacturers; its primary manufacturing partners are Jabil Inc., Sanmina Corporation and Foxconn Hon Hai. These partners manufacture its products internationally in Malaysia, Vietnam, Mexico and other countries.

Written from the business description in Arista Networks, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 17 February 2026. Every sentence was checked against that document before publication.

Growth
USD 9.0B
Revenue, FY2025 · full 14-year series below
Revenue $B Net income $B
FY2025 · Revenue 9.0 · Net income 3.5
4B8B20122014201620182020202220242025
Compound annual growth
+27.1%
+31.2%
+26.8%
+37.4%
+40.8%
+40.0%
+33.7%
+32.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +31.2% a year over five years — but profit grew faster: net income at +40.8%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
39 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 42.8% · Net 39.0%
20%40%20122014201620182020202220242025
ROE
FY2025 · ROE 31.4%
50%100%20122014201620182020202220242025

Each USD of equity produced 31 cents of profit this year.

Cash & shareholders
USD 1.6B
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 4.3
2B4B20122014201620182020202220242025
Net buybacks $B Dividends $B
FY2025 · Dividends — · Net buybacks 1.6
0.8B1.6B201720182019202020212022202320242025

USD 1.6B in buybacks — 46% of the year's profit went back to shareholders.

Total assetsUSD 19.4B
EquityUSD 12.4B
CashUSD 2.0B
Current ratio3.05×

Equity funds 64% of total assets.

The 14-year record
14 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012
Revenue $B9.07.05.94.42.92.32.42.21.61.10.80.60.40.2
Operating income $B3.92.92.31.50.90.70.80.30.50.20.10.10.10.0
EBITDA $B3.93.02.31.61.00.70.80.30.50.30.20.10.10.0
Income tax $B0.70.40.30.20.10.10.0−0.00.10.10.00.00.00.0
Net income $B3.52.92.11.40.80.60.90.30.40.20.10.10.00.0
Free cash flow $B4.33.72.00.41.00.70.90.50.60.20.20.10.00.0
EPS, diluted $2.752.231.651.072.632.002.664.065.352.501.671.290.720.39
Dividend / sh $··············
Payout %··············
ROE %31.433.134.530.523.020.434.117.230.619.418.027.487.9112.9
Shares out B1.261.261.250.310.310.300.080.080.070.070.070.070.03·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 68 reconciliationsAUDITED

Reconciled in 14 of 19 fiscal years. 27 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityComputer Communications Equipment
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2012

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