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Arista NetworksANET

Communications Equipment · Santa Clara, California · In the S&P 500
High qualityPricier than peers
$168.86−8.34%After hours: $169.82 (+0.57%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 4.2% over 1 year
Arista Networks over 1 yearDaily close, $, to 30 Oct 2026
$150$200Nov2026MarMayJulSep$168.86$150$200NovMarJul$168.86
Source: Nasdaq daily closes
Market value$213B
Price to earnings53.2x
Forward P/E36.4x
Dividend yield–
Year to date+28.9%
One year+4.2%
Next earningsTue 3 Nov, after the close
SectorInformation Technology
52-week range (closes)
$116.13$216.74

Quality and valuation

How Arista Networks compares with other information technology stocks. A description, not a recommendation.

Arista Networks and 5 communications equipment peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: stronger than mostValuation: pricier than most

A stronger business than most information technology companies, priced above most of them.

Arista Networks trades at 36.4 times the next 12 months of expected earnings, against a median of 22.2x for the 99 information technology stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew faster than the sector median: +32.6% vs +20.6%
  • Keeps more of each sale (gross margin): 63.0% vs 61.5%
  • More profitable (operating margin): 43.1% vs 17.0%
  • Turns more of its sales into cash: 48.9% vs 21.7%
ANET trades at 36.4x forward earnings, above the sector medianForward p/e, Communications Equipment peers
FFIV19.6xCSCO20.4xMSI27.1xCIEN30.8xANET36.4xLITE38.6xSector median 22.2xFFIV19.6xCSCO20.4xMSI27.1xCIEN30.8xANET36.4xLITE38.6xSector median 22.2x
Source: CNBC quotes; Mostly Markets
At 53.3x earnings, ANET is pricier than its average since Jul 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
30x40x50x60xAverage 51.0x2025202653.3x40x60xAverage 51.0x2025202653.3x
Source: Nasdaq prices; SEC filings

Financials

From Arista Networks's SEC filings, through the quarter ending 30 Jun 2026. Hover or tap a bar for its value.

Revenue grew 37.7% from a year earlierQuarterly revenue, $bn, latest Q2 ’26
$0bn$1bn$2bn$3bnQ3 ’24Q1 ’25Q3 ’25$3.0bnQ2 ’26$0bn$2bnQ3 ’24Q1 ’25Q3 ’25$3.0bnQ2 ’26
Source: SEC filings
Growth sped up to +37.7% last quarterRevenue growth, year on year, %
0%10%20%30%Q3 ’24Q1 ’25Q3 ’2537.7%Q2 ’260%20%Q3 ’24Q1 ’25Q3 ’2537.7%Q2 ’26
Source: SEC filings
Operating margin was 45.4% last quarterOperating income as a share of revenue, %
0%20%40%Q3 ’24Q1 ’25Q3 ’2545.4%Q2 ’260%20%40%Q3 ’24Q1 ’25Q3 ’2545.4%Q2 ’26
Source: SEC filings
Free cash flow was $5.2 billion over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $bn
$0.0bn$0.5bn$1.0bn$1.5bnQ3 ’24Q1 ’25Q3 ’25$1.1bnQ2 ’26$0bn$1bnQ3 ’24Q1 ’25Q3 ’25$1.1bnQ2 ’26
Source: SEC filings
Last 12 monthsANETSector median
Revenue growth+32.6%+20.6%
Gross margin63.0%61.5%
Operating margin43.1%17.0%
Free cash flow margin48.9%21.7%
Price to earnings53.2x33.1x

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Similar companies

Communications Equipment, by market value.

CompanyPriceTodayYTDValue
CSCOCisco$104.51−3.76%+35.7%$412B
MSIMotorola Solutions$491.53−0.11%+28.2%$81.34B
LITELumentum$840.70−8.57%+128.1%$76.15B
CIENCiena$320.72−8.22%+37.1%$45.48B
FFIVF5$338.34−6.91%+32.5%$19.22B