Arista NetworksANET

TechnologyNYSEFinancial year ends in December

Makes high-speed network switches for data centres, including the networks that link AI chips together.

By financial year

Arista Networks’s figures by financial year
Figure	FY2021	FY2022	FY2023	FY2024	FY2025
Income
Revenue	$2.9bn	$4.4bn	$5.9bn	$7.0bn	$9.0bn
Gross profit	$1.9bn	$2.7bn	$3.6bn	$4.5bn	$5.8bn
Operating income	$925m	$1.5bn	$2.3bn	$2.9bn	$3.9bn
Net income	$841m	$1.4bn	$2.1bn	$2.9bn	$3.5bn
Earnings per share (diluted)	$0.66	$1.07	$1.65	$2.23	$2.75
Cash flow
Cash from operations	$1.0bn	$493m	$2.0bn	$3.7bn	$4.4bn
Capital spending	$65m	$45m	$34m	$32m	$120m
Free cash flow	$951m	$448m	$2.0bn	$3.7bn	$4.3bn
Share buybacks	$412m	$670m	$112m	$424m	$1.6bn
Balance sheet (at the end of the period)
Cash and investments	$3.4bn	$3.0bn	$5.0bn	$8.3bn	$10.7bn
Shareholders’ equity	$4.0bn	$4.9bn	$7.2bn	$10.0bn	$12.4bn
Shares (diluted average)	1.28bn	1.27bn	1.27bn	1.28bn	1.28bn

By quarter

Arista Networks’s figures by quarter
Figure	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026	Q3 FY2026
Income
Revenue	$1.9bn	$2.0bn	$2.2bn	$2.3bn	$2.5bn	$2.7bn	$3.0bn	$3.7bn
Gross profit	$1.2bn	$1.3bn	$1.4bn	$1.5bn	$1.6bn	$1.7bn	$1.9bn	$2.3bn
Operating income	$800m	$859m	$986m	$978m	$1.0bn	$1.2bn	$1.4bn	$1.6bn
Net income	$801m	$814m	$889m	$853m	$956m	$1.0bn	$1.2bn	$1.6bn
Earnings per share (diluted)	—	$0.64	$0.70	$0.67	—	$0.80	$0.95	$1.22
Cash flow
Cash from operations	$1.0bn	$642m	$1.2bn	$1.3bn	$1.3bn	$1.7bn	$1.1bn	$1.2bn
Capital spending	$12m	$28m	$24m	$30m	$37m	$55m	$30m	$101m
Free cash flow	$1.0bn	$613m	$1.2bn	$1.2bn	$1.2bn	$1.6bn	$1.1bn	$1.1bn
Share buybacks	$124m	$787m	$196m	$0	$620m	$0	$0	$0
Balance sheet (at the end of the period)
Cash and investments	$8.3bn	$8.1bn	$8.8bn	$10.1bn	$10.7bn	$12.4bn	$13.3bn	$14.4bn
Shareholders’ equity	$10.0bn	$10.1bn	$10.9bn	$11.9bn	$12.4bn	$13.5bn	$14.8bn	$16.4bn
Shares (diluted average)	—	1.28bn	1.27bn	1.28bn	—	1.27bn	1.28bn	1.28bn

From Arista Networks’s annual (10-K) and quarterly (10-Q) reports to the SEC; each column heading links to its filing. Fourth quarters, and quarterly cash flows, are worked out from the year’s totals. Earnings per share for a fourth quarter can’t be, so it is left blank. Per-share figures before a share split are adjusted to today’s shares.

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