Arista Networks, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $9.0B | $7.0B | $5.9B | $4.4B | $2.9B |
| Cost of revenue | $3.2B | $2.5B | $2.2B | $1.7B | $1.1B |
| Gross profit | $5.8B | $4.5B | $3.6B | $2.7B | $1.9B |
| Research and development | $1.2B | $996.7M | $854.9M | $728.4M | $586.8M |
| Operating expenses | $1.9B | $1.5B | $1.4B | $1.1B | $956.0M |
| Operating income | $3.9B | $2.9B | $2.3B | $1.5B | $924.7M |
| Pretax income | $4.2B | $3.3B | $2.4B | $1.6B | $930.9M |
| Income tax expense | $738.3M | $413.0M | $334.7M | $229.3M | $90.0M |
| Net income | $3.5B | $2.9B | $2.1B | $1.4B | $840.9M |
| Balance Sheet | |||||
| Cash and equivalents | $2.0B | $2.8B | $1.9B | $671.7M | $620.8M |
| Current assets | $16.4B | $11.9B | $8.4B | $5.6B | $4.8B |
| Total assets | $19.4B | $14.0B | $10.0B | $6.8B | $5.7B |
| Current liabilities | $5.4B | $2.7B | $1.9B | $1.3B | $1.1B |
| Total liabilities | $7.1B | $4.0B | $2.7B | $1.9B | $1.8B |
| Stockholders' equity | $12.4B | $10.0B | $7.2B | $4.9B | $4.0B |
| Cash Flow Statement | |||||
| Cash from operations | $4.4B | $3.7B | $2.0B | $492.8M | $1.0B |
| Depreciation and amortization | $72.6M | $62.0M | $70.6M | $62.7M | $50.3M |
| Stock-based compensation | $439.2M | $355.4M | $296.8M | $230.9M | $186.9M |
| Capital expenditure | $119.5M | $32.0M | $34.4M | $44.6M | $64.7M |
| Free cash flow | $4.3B | $3.7B | $2.0B | $448.2M | $951.1M |
| Share repurchases | $1.6B | $423.6M | $112.3M | $670.3M | $411.6M |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 1.3B · Free float 78.3%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.