Arista Networks Inc. (ANET)

NYSE: ANET · USD

$187

-0.11 (-0.1%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-09

Our latest published analysis: ANET rated Sell

Arista Networks Inc.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$61.3 / share

Potential value

$79.2 / share

Upside to FV

-68.5%

from $187

Moat

1/10

None

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$244.4B
Revenue (ttm)	10.5B
Net income (ttm)	4B
EPS (ttm)	$3.16
Shares out	1.3B
P/E (trailing)	59.1x
P/E (forward)	36.9x
Volume	3,596,014
Beta	1.60

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 10.5B
Net income (ttm): 4B
EPS (ttm): $3.16
P/E (trailing): 59.1x
P/E (forward): 36.9x
Market cap: $244.4B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$2.95B	$4.38B	$5.86B	$7.00B	$9.01B	+32.2%
Gross profit	$1.88B	$2.68B	$3.63B	$4.49B	$5.77B	+32.3%
Operating income	$924.7M	$1.53B	$2.26B	$2.94B	$3.86B	+42.9%
Net income	$840.9M	$1.35B	$2.09B	$2.85B	$3.51B	+43.0%
EPS (diluted)	$0.66	$1.07	$1.65	$2.23	$2.75	+43.0%
EBITDA	$981.2M	$1.64B	$2.49B	$3.33B	$4.32B	+44.9%
R&D	$586.8M	$728.4M	$854.9M	$996.7M	$1.24B	+20.5%
SG&A	$83.1M	$93.2M	$119.1M	$122.7M	$141.9M	+14.3%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	Tut
ALB	Albemarle Corporation	11.4B	198.9x	1.9x	4.1%	+12.8%	+1.9%	Tut
APD	Air Products and Chemicals, Inc.	68.3B	—	5.4x	8.9%	+5.2%	+23.1%	Tut
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	Sat
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	Tut
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	Güçlü Al

Base and Bull scenarios

Base50%

Price target

$61.32

-68.5% from spot

The base path holds if both dated FY2027 estimates are met and operating cash remains above reported profit. It fails if annual revenue growth breaches the thesis floor before FY2029.

FY2027 revenue and adjusted earnings meet their dated estimates. Operating margin stays at or above its FY2025 level, and operating cash remains above reported profit.

Bull20%

Price target

$79.17

-59.4% from spot

The bull path needs FY2027 companywide revenue and adjusted earnings above their dated analyst means. Operating margin at or above FY2025's level and operating and free cash flow at or above FY2025 amounts would let higher sales lift profit and cash. It fades if product demand weakens and the smaller service line cannot offset lost sales.

FY2027 revenue and adjusted earnings exceed their dated means. Operating margin stays at or above its FY2025 level, and operating cash remains above reported profit.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($61.32). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	1.0%	1.5%	2.0%	2.5%	3.0%
8.8%	$69.0	$70.5	$72.3	$74.3	$76.7
9.8%	$63.8	$65.0	$66.3	$67.7	$69.4
10.8%	$59.5	$60.3	$61.3	$62.4	$63.7
11.8%	$55.7	$56.4	$57.1	$58.0	$58.9
12.8%	$52.4	$52.9	$53.5	$54.2	$54.9

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E36.9

P25 n/aP50 n/aP75 n/a

Trailing P/E61.3

P25 n/aP50 n/aP75 n/a

ROE31.5

P25 n/aP50 n/aP75 n/a

ROIC284.8

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All ANET indicators

Market & fundamental data

Available fields

276

Groups with data

Currency

USD

Showing 276 of 276 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001596532
Company name	Arista Networks, Inc.
Country	United States
Country code	US
CUSIP number	040413205
Earnings date	2026-11-03
Earnings time	amc
Employees	5,115
Employees change	703
Employees growth	15.93%
Enterprise value	$222.4B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	2004
In index	SP500
Industry	Computer Hardware
IPO date	2014-06-06
Is primary listing	Yes
Is SPAC	No
ISIN number	US0404132054
Last 10-K release date	2026-02-17
Last earnings date	2026-08-04
Last refreshed	2026-10-28
Last stock split date	2024-12-04
Last stock split type	Forward
Market cap	$235.7B
Market cap category	Mega-Cap
Next earnings date	2026-11-03
Options	Yes
Price	$186.88
Price currency	USD
Sector	Technology
SIC code	3576
Stock price date	2026-10-28
Symbol	ANET
Tags	artificial-intelligence
U.S. state	California
Website	https://www.arista.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	54.01x
Average P/E ratio (10Y)	39.16x
Average P/E ratio (3Y)	42.59x
Average P/E ratio (5Y)	39.55x
Earnings yield	1.69%
EV/Earnings	55.09x
EV/EBIT	49x
EV/EBITDA	48.02x
EV/FCF	43.22x
EV/Sales	21.14x
FCF / EV yield	2.31%
FCF yield	2.18%
Forward EV/Sales	15.34x
Forward P/E	40.18x
Forward P/S	16.26x
Graham number	28.88192
Graham upside	-84.57%
Industry forward P/E	13.99x
Industry P/E	27.36x
Lynch fair value	$78.99
Lynch upside	-57.81%
P/(FCF - SBC) ratio	50.75x
P/(OCF - SBC) ratio	49.15x
P/B ratio	15.94x
P/E ratio	59.14x
P/FCF ratio	45.81x
P/OCF ratio	44.5x
P/S ratio	22.4x
PEG ratio	1.61x
Price / tangible book value	16.72x
Price/EBITDA ratio	50.9x
Sector forward P/E	18.55x
Sector P/E	32.64x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	43.14%
EBITDA margin	44.02%
Effective tax rate	18.95%
FCF margin	48.91%
Gross margin	63%
Operating margin	43.14%
Pretax margin	47.34%
Profit margin	38.37%
Profit per employee	$790,733
Profitable quarters	32
Profitable years	15
Revenue per employee	$2.1M
ROA	14.12%
ROA (5Y)	14.58%
ROCE	26.9%
ROE	31.48%
ROE (5Y)	30.52%
ROIC	284.77%
ROIC (5Y)	130.33%
SBC / revenue	4.77%
Tax / revenue	8.97%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	23.94%
EPS growth (Q)	35.71%
EPS growth (QoQ)	18.75%
EPS growth 10Y	38.05%
EPS growth 3Y	32.66%
EPS growth 5Y	40.72%
EPS growth quarters	22
EPS growth years	5
FCF growth	29.68%
FCF growth (Q)	-10.44%
FCF growth (QoQ)	-35.74%
FCF growth 3Y	76.04%
FCF growth 5Y	41.77%
Gross profit growth	30.03%
Gross profit growth (Q)	32.79%
Gross profit growth 3Y	27.99%
Gross profit growth 5Y	31.66%
Net income growth	24.39%
Net income growth (Q)	36.47%
Net income growth (QoQ)	18.57%
Net income growth 3Y	33.25%
Net income growth 5Y	40.89%
Net income growth quarters	22
Net income growth years	5
OCF growth	31.12%
OCF growth (Q)	-9.76%
OCF growth (QoQ)	-36.05%
OCF growth 10Y	34.74%
OCF growth 3Y	75.41%
OCF growth 5Y	41.97%
Operating income growth	32.57%
Operating income growth (Q)	39.73%
Operating income growth 3Y	33.74%
Operating income growth 5Y	41.31%
Revenue growth	32.57%
Revenue growth (Q)	37.69%
Revenue growth (QoQ)	12.06%
Revenue growth 10Y	26.89%
Revenue growth 3Y	26.05%
Revenue growth 5Y	32.02%
Revenue growth quarters	23
Revenue growth years	5

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-151.3M
Depreciation and amortization	$92.7M
EBIT	$4.5B
EBITDA	$4.6B
EPS	$3.16
FCF per share	$4.09
Financing cash flow	$-606.4M
Free cash flow	$5.2B
Free cash flow minus SBC	$4.7B
Gross profit	$6.6B
Income taxes	$945.6M
Investing cash flow	$-4.6B
Net cash flow	$64.7M
Net income	$4B
Operating cash flow minus SBC	$4.8B
Operating income	$4.5B
Revenue	$10.5B
Stock-based compensation	$502.3M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	14.22
Book value per share	$11.73
Debt / equity	0
Goodwill	$416.1M
Long-term assets	$3.6B
Long-term liabilities	$2.1B
Net cash (debt)	$13.3B
Net cash / market cap	5.65%
Net cash growth	50.87%
Net debt / EBITDA	-2.88
Net debt / equity	-0.9
Net debt / FCF	-2.59
Piotroski F-Score	4
Property, plant and equipment	$312.5M
Shareholders' equity	$14.8B
Tangible book value	$14.1B
Tangible book value per share	$11.20
Total assets	$23.7B
Total cash	$13.3B
Total debt	$0
Total liabilities	$8.9B
WACC	13.07%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.52
Current assets	$20.2B
Current liabilities	$6.8B
Current ratio	2.96
Inventory turnover	1.7
Net working capital	$1.7M
Quick ratio	2.29
Working capital	$13.3B
Working capital turnover	0.92

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	0.26%
Dividend yield	0%
Shareholder yield	0.26%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	3,448.41%
10Y return CAGR	42.9%
10Y total return	3,448.33%
150-day SMA	$174.41
1D price change	-0.06%
1M price change	-9.16%
1M total return	-9.16%
1W price change	3.56%
1W total return	3.56%
1Y price change	19.66%
1Y return CAGR	19.68%
1Y total return	19.66%
20-day SMA	$194.74
200-day SMA	$164.68
3M price change	9.89%
3M total return	9.89%
3Y price change	325.99%
3Y return CAGR	62.09%
3Y total return	326%
50-day SMA	$195.58
50-day SMA vs 200-day SMA	50over200
52-week high	$217.41
52-week high date	2026-10-09
52-week low	$114.52
52-week low date	2025-11-21
5Y price change	645.37%
5Y return CAGR	49.45%
5Y total return	645.36%
6M price change	8.8%
6M total return	8.8%
After-hours change	0.53%
After-hours close	$186.88
After-hours price	$187.87
All-time high	$217.41
All-time high date	2026-10-09
All-time low	$3.28
All-time low date	2016-02-09
Average true range (ATR)	$8.56
Average volume	5.6M
Beta (1Y)	2.29
Beta (2Y)	2.09
Beta (5Y)	1.6
Change from 52-week high	-14.04%
Change from 52-week low	63.19%
Change from all-time high	-13.69%
Change from all-time low	5,617.25%
Change from open	-1.73%
Day's gap	1.7%
Dollar volume	$672M
High price	$191.00
Low price	$184.90
Monthly RSI	65.91
Open price	$190.17
Position in 52-week range	32.46%
Premarket change	1.74%
Premarket close	$187.00
Premarket price	$190.25
Premarket volume	39K
Previous close	$187.00
Price vs 150-day SMA	7.58%
Price vs 20-day SMA	-3.65%
Price vs 200-day SMA	13.94%
Price vs 50-day SMA	-4.06%
Relative volume	0.64
RSI	46.96
Sharpe ratio	0.53
Sharpe ratio (3Y)	1.09
Sharpe ratio (5Y)	0.99
Sortino ratio	0.86
Sortino ratio (3Y)	1.68
Sortino ratio (5Y)	1.6
Volume	3.6M
Weekly RSI	53.44
YTD price change	43.2%
YTD total return	43.2%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	1.1B
Float percentage	83.3%
Shares change (QoQ)	0.17%
Shares change (YoY)	-0.26%
Shares held by insiders	16.6%
Shares held by institutions	72.79%
Shares outstanding	1.3B
Short % of float	1.14%
Short % of shares	0.95%
Short ratio	2.5 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	598

Deeper analysis on ANET

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this ANET report

What is the latest published ANET stock rating?

Arista Networks Inc. is shown with Sell in the latest published report, analyzed 2026-09-09. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full ANET analysis?

The full latest published report, analyzed 2026-09-09, lives at /stocks/ANET/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for ANET?

The latest published report analyzed 2026-09-09 gives ANET a fair value of USD 61 and a potential value of USD 79. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the ANET page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-09). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellANET · Fair value $61.3-68.5%

Read full analysis →

Arista Networks Inc. (ANET)

Our latest published analysis: ANET rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · ANET

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All ANET indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on ANET

Frequently asked questions

Derecelendirme geçmişi

Category	Score	Reading
Valuation	1.5
Management	6.5
Balance Sheet	8.5
Profitability	8.5
Revenue Growth	9.0
Risk Assessment	7.0
Competitive Moat	1.0
Earnings Quality	9.0
Capital Efficiency	7.5