Arista Networks, Inc. - Understand $anet stock

$ANET Market Cap: $132.8 Billion

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Financial Snapshot

Revenue

$6.613B

TTM

Gross Margin

64.42%

TTM

Net Earnings

$2.665B

TTM

Current Assets

$10.88B

Q3 2024

Current Liabilities

$2.434B

Q3 2024

Current Ratio

446.85%

Q3 2024

Total Assets

$12.85B

Q3 2024

Total Liabilities

$3.601B

Q3 2024

Book Value

$9.246B

Q3 2024

Cash

$3.175B

Q3 2024

P/E

49.84

Nov 29, 2024 EST

Free Cash Flow

$3.178B

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Revenue	$5.860B	$4.381B	$2.948B	$2.318B	$2.411B	$2.151B	$1.646B	$1.129B	$837.6M	$584.1M	$361.2M	$193.4M	$139.8M
YoY Change	33.75%	48.62%	27.21%	-3.87%	12.05%	30.69%	45.79%	34.81%	43.4%	61.7%	86.77%	38.35%	94.98%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Revenue	$5.860B	$4.381B	$2.948B	$2.318B	$2.411B	$2.151B	$1.646B	$1.129B	$837.6M	$584.1M	$361.2M	$193.4M	$139.8M
Cost Of Revenue	$2.230B	$1.706B	$1.067B	$835.6M	$866.4M	$778.0M	$584.4M	$406.1M	$294.0M	$192.0M	$122.7M	$61.25M	$43.40M
Gross Profit	$3.630B	$2.676B	$1.881B	$1.482B	$1.544B	$1.373B	$1.062B	$723.1M	$543.6M	$392.1M	$238.5M	$132.2M	$96.50M
Gross Profit Margin	61.95%	61.07%	63.8%	63.94%	64.06%	63.84%	64.5%	64.04%	64.9%	67.13%	66.04%	68.33%	69.03%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Selling, General & Admin	$518.1M	$420.2M	$369.3M	$295.6M	$275.8M	$252.6M	$241.9M	$206.1M	$184.8M	$117.7M	$73.80M	$37.10M	$25.70M
YoY Change	23.3%	13.79%	24.92%	7.18%	9.2%	4.41%	17.36%	11.54%	57.05%	59.44%	98.91%	44.37%	110.66%
% of Gross Profit	14.27%	15.7%	19.63%	19.95%	17.86%	18.39%	22.78%	28.51%	34.0%	30.01%	30.94%	28.08%	26.63%
Research & Development	$854.9M	$728.4M	$586.8M	$486.6M	$462.8M	$442.5M	$349.6M	$273.6M	$209.4M	$148.9M	$98.59M	$55.16M	$26.40M
YoY Change	17.37%	24.14%	20.58%	5.15%	4.59%	26.57%	27.78%	30.62%	40.66%	51.04%	78.75%	108.92%	61.96%
% of Gross Profit	23.55%	27.22%	31.2%	32.84%	29.96%	32.22%	32.93%	37.83%	38.53%	37.98%	41.33%	41.73%	27.36%
Depreciation & Amortization	$70.63M	$62.70M	$50.33M	$44.59M	$32.85M	$27.67M	$20.64M	$19.75M	$13.67M	$10.02M	$5.044M	$1.779M	$1.300M
YoY Change	12.65%	24.57%	12.88%	35.74%	18.71%	34.06%	4.51%	44.46%	36.42%	98.67%	183.53%	36.85%
% of Gross Profit	1.95%	2.34%	2.68%	3.01%	2.13%	2.01%	1.94%	2.73%	2.52%	2.56%	2.11%	1.35%	1.35%
Operating Expenses	$1.373B	$1.149B	$956.0M	$782.2M	$738.6M	$1.100B	$591.5M	$479.7M	$394.3M	$266.6M	$172.4M	$92.26M	$52.00M
YoY Change	19.54%	20.14%	22.22%	5.91%	-32.86%	85.97%	23.3%	21.68%	47.89%	54.64%	86.85%	77.42%	82.46%
Operating Profit	$2.257B	$1.527B	$924.7M	$699.7M	$805.8M	$273.3M	$470.3M	$243.4M	$149.3M	$125.5M	$66.15M	$39.90M	$44.50M
YoY Change	47.81%	65.14%	32.17%	-13.17%	194.78%	-41.87%	93.2%	63.02%	18.96%	89.75%	65.8%	-10.34%	178.12%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Interest Expense	$171.1M	$55.04M	$7.200M	$40.70M	$56.60M	$2.701M	$2.780M	$3.136M	-$3.200M	-$6.300M	-$7.100M	-$7.100M	-$6.400M
YoY Change	210.93%	664.38%	-82.31%	-28.09%	1995.52%	-2.84%	-11.35%	-198.0%	-49.21%	-11.27%	0.0%	10.94%	-49.21%
% of Operating Profit	7.58%	3.6%	0.78%	5.82%	7.02%	0.99%	0.59%	1.29%	-2.14%	-5.02%	-10.73%	-17.8%	-14.38%
Other Income/Expense, Net	$164.8M	$54.69M	$6.140M	$39.18M	$56.50M	$15.45M	$4.488M	-$1.184M	-$3.299M	-$4.005M	-$7.873M	-$6.922M	-$400.0K
YoY Change	201.29%	790.72%	-84.33%	-30.65%	265.58%	244.34%	-479.05%	-64.11%	-17.63%	-49.13%	13.74%	1630.5%	300.0%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Pretax Income	$2.422B	$1.582B	$930.9M	$738.9M	$862.3M	$288.8M	$474.8M	$242.2M	$146.0M	$121.5M	$58.28M	$32.98M	$37.60M
YoY Change	53.12%	69.92%	25.99%	-14.31%	198.57%	-39.17%	96.0%	65.9%	20.16%	108.51%	76.72%	-12.3%	1039.39%
Income Tax	$334.7M	$229.4M	$90.03M	$104.3M	$2.403M	-$39.31M	$51.56M	$58.04M	$24.91M	$34.66M	$15.82M	$11.63M	$3.600M
% Of Pretax Income	13.82%	14.5%	9.67%	14.12%	0.28%	-13.61%	10.86%	23.96%	17.06%	28.52%	27.14%	35.26%	9.57%
Net Earnings	$2.087B	$1.352B	$840.9M	$634.6M	$859.9M	$328.1M	$423.2M	$184.2M	$121.1M	$86.85M	$42.46M	$21.35M	$34.00M
YoY Change	54.34%	60.84%	32.51%	-26.2%	162.06%	-22.47%	129.76%	52.09%	39.44%	104.55%	98.89%	-37.21%	1316.67%
Net Earnings / Revenue	35.62%	30.87%	28.52%	27.38%	35.67%	15.25%	25.71%	16.31%	14.46%	14.87%	11.75%	11.04%	24.32%
Basic Earnings Per Share	$6.75	$4.41	$2.74	$2.09	$2.82	$4.39	$5.85	$2.66	$1.81	$1.42	$0.76	$0.39
Diluted Earnings Per Share	$6.58	$4.27	$2.63	$2.00	$2.66	$4.06	$5.35	$2.50	$1.67	$1.29	$0.72	$0.39	$133.1K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Cash & Short-Term Investments	$5.008B	$3.024B	$3.408B	$2.873B	$2.724B	$1.956B	$1.536B	$867.8M	$687.3M	$449.5M	$113.7M	$88.70M	$70.70M
YoY Change	65.62%	-11.28%	18.64%	5.45%	39.28%	27.38%	76.95%	26.26%	52.9%	295.34%	28.18%	25.46%
Cash & Equivalents	$1.939B	$671.7M	$620.8M	$893.2M	$1.111B	$650.0M	$859.2M	$567.9M	$687.3M	$240.0M	$113.7M
Short-Term Investments	$3.069B	$2.352B	$2.788B	$1.980B	$1.613B	$1.306B	$676.4M	$299.9M	$0.00	$209.4M	$0.00
Other Short-Term Assets	$412.5M	$141.1M	$167.0M	$59.80M	$72.20M	$141.4M	$143.2M	$108.3M	$50.60M	$52.50M	$20.00M	$13.90M	$5.000M
YoY Change	192.33%	-15.5%	179.26%	-17.17%	-48.94%	-1.26%	32.23%	114.03%	-3.62%	162.5%	43.88%	178.0%
Inventory	$1.945B	$1.452B	$696.4M	$498.5M	$257.5M	$279.2M	$340.3M	$296.8M	$92.10M	$80.50M	$67.10M	$22.60M	$17.00M
Prepaid Expenses
Receivables	$1.025B	$934.2M	$540.9M	$405.9M	$417.6M	$338.1M	$247.3M	$253.1M	$144.3M	$97.00M	$78.00M	$49.90M	$28.20M
Other Receivables	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.000M	$1.000M	$0.00
Total Short-Term Assets	$8.390B	$5.551B	$4.813B	$3.837B	$3.472B	$2.715B	$2.266B	$1.526B	$974.3M	$679.5M	$282.8M	$176.1M	$121.0M
YoY Change	51.16%	15.34%	25.43%	10.53%	27.88%	19.78%	48.51%	56.64%	43.38%	140.28%	60.59%	45.54%
Property, Plant & Equipment	$101.6M	$148.4M	$143.8M	$109.5M	$127.0M	$75.40M	$74.30M	$77.00M	$79.70M	$71.60M	$67.20M	$30.50M	$2.900M
YoY Change	-31.55%	3.2%	31.32%	-13.78%	68.44%	1.48%	-3.51%	-3.39%	11.31%	6.55%	120.33%	951.72%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments		$39.47M	$20.20M	$8.300M	$4.200M	$30.30M	$36.10M	$36.10M	$36.60M	$36.60M	$0.00
YoY Change		95.39%	143.37%	97.62%	-86.14%	-16.07%	0.0%	-1.37%	0.0%
Other Assets	$1.098B	$648.7M	$475.7M	$471.6M	$482.4M	$149.2M	$84.00M	$89.80M	$69.20M	$23.40M	$14.60M	$8.500M	$3.800M
YoY Change	69.22%	36.36%	0.87%	-2.24%	223.32%	77.62%	-6.46%	29.77%	195.73%	60.27%	71.76%	123.68%
Total Long-Term Assets	$1.557B	$1.225B	$921.7M	$901.9M	$713.7M	$367.2M	$194.5M	$202.9M	$185.6M	$131.5M	$81.70M	$43.00M	$6.600M
YoY Change	27.1%	32.87%	2.2%	26.37%	94.36%	88.79%	-4.14%	9.32%	41.14%	60.95%	90.0%	551.52%
Total Assets	$9.947B	$6.775B	$5.734B	$4.739B	$4.185B	$3.082B	$2.461B	$1.729B	$1.160B	$811.0M	$364.5M	$219.1M	$127.6M
YoY Change
Accounts Payable	$435.1M	$232.6M	$202.6M	$134.2M	$92.10M	$93.80M	$52.20M	$79.50M	$44.00M	$32.40M	$20.10M	$11.00M	$6.300M
YoY Change	87.06%	14.79%	50.97%	45.71%	-1.81%	79.69%	-34.34%	80.68%	35.8%	61.19%	82.73%	74.6%
Accrued Expenses	$407.3M	$312.4M	$246.9M	$161.1M	$156.3M	$123.3M	$133.8M	$91.00M	$64.30M	$43.50M	$40.30M	$12.10M	$5.600M
YoY Change	30.39%	26.51%	53.26%	3.07%	26.76%	-7.85%	47.03%	41.52%	47.82%	7.94%	233.06%	116.07%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$98.80M	$0.00	$0.00
YoY Change										-100.0%
Long-Term Debt Due									$1.300M	$1.100M	$800.0K
YoY Change									18.18%	37.5%
Total Short-Term Liabilities	$1.910B	$1.294B	$1.110B	$768.2M	$597.1M	$606.5M	$529.9M	$459.6M	$235.0M	$144.4M	$209.3M	$46.40M	$22.70M
YoY Change	47.63%	16.56%	44.47%	28.66%	-1.55%	14.46%	15.3%	95.57%	62.74%	-31.01%	351.08%	104.41%
Long-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$35.40M	$37.70M	$39.60M	$41.20M	$42.50M	$43.20M	$122.9M	$96.60M
YoY Change					-100.0%	-6.1%	-4.8%	-3.88%	-3.06%	-1.62%	-64.85%	27.23%
Other Long-Term Liabilities	$818.1M	$596.0M	$516.9M	$422.4M	$438.8M	$296.7M	$231.4M	$122.0M	$95.50M	$68.40M	$34.30M	$32.00M	$16.50M
YoY Change	37.27%	15.31%	22.37%	-3.74%	47.89%	28.22%	89.67%	27.75%	39.62%	99.42%	7.19%	93.94%
Total Long-Term Liabilities	$818.1M	$596.0M	$516.9M	$422.4M	$438.8M	$332.1M	$269.1M	$161.6M	$136.7M	$110.9M	$77.50M	$154.9M	$113.1M
YoY Change	37.27%	15.31%	22.37%	-3.74%	32.13%	23.41%	66.52%	18.22%	23.26%	43.1%	-49.97%	36.96%
Total Liabilities	$2.728B	$1.890B	$1.756B	$1.419B	$1.291B	$938.6M	$798.9M	$621.2M	$371.7M	$255.4M	$286.8M	$201.3M	$135.8M
YoY Change	44.36%	7.62%	23.77%	9.92%	37.5%	17.49%	28.61%	67.12%	45.54%	-10.95%	42.47%	48.23%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Basic Shares Outstanding	309.4M shares	306.5M shares	306.5M shares	303.9M shares	305.2M shares	74.75M shares	72.26M shares	68.77M shares	65.96M shares	48.43M shares	27.32M shares	24.71M shares
Diluted Shares Outstanding	317.1M shares	316.5M shares	319.2M shares	317.9M shares	323.5M shares	80.84M shares	78.98M shares	73.22M shares	71.41M shares	54.59M shares	30.05M shares	24.90M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $132.82 Billion

About Arista Networks, Inc.

Arista Networks, Inc. engages in the business of developing, marketing, and selling cloud networking solutions. The company is headquartered in Santa Clara, California and currently employs 4,023 full-time employees. The company went IPO on 2014-06-06. The Company’s platforms deliver availability, agility, automation, analytics and security through an advanced network operating stack. Its portfolio of offerings includes three product categories: Core, Cognitive Adjacencies and Network Software and Services. Its Core product categories consist of high-speed Data Center and Cloud Networking systems, including newer artificial intelligence Ethernet switching platforms. Its Cognitive Adjacencies consists of campus wired and wireless products and advanced routing systems addressing Core Routing, Edge Routing, Multi-cloud and Wide Area Networking use cases. Its Network Software and Services consist of a suite of value-add software solutions that leverage Arista’s Extensible Operating System (EOS) to provide advanced end-to-end orchestration, automation, analytics, network monitoring and security.

Industry: Computer Communications Equipment Peers: CALIX, INC CIENA CORP CISCO SYSTEMS, INC. F5, INC. VIAVI SOLUTIONS INC. JUNIPER NETWORKS INC Lumentum Holdings Inc. Motorola Solutions, Inc. Ubiquiti Inc.