Arista Networks (ANET) stock
Information Technology · Communications Equipment
Arista Networks (ANET) is a Communications Equipment company in the Information Technology sector, headquartered in Santa Clara, California. As of October 23, 2026, ANET closed at $172.37, a market capitalization of $217.40 billion, the 51st largest company in the S&P 500. Over the last twelve months it generated $10.54 billion in revenue (+38% year over year) and $5.16 billion in free cash flow. The stock trades at 58.6x trailing earnings and 33.0x forward earnings.
- 1-year total return: +12.8% (dividends reinvested)
- 5-year return: +47.8% a year
- 52-week range: $114.52 – $217.41
- Gross margin 63.0%, operating margin 45.4%
- FI Handbook report card: B across 10 metrics
- 18th largest of 75 Information Technology stocks in the S&P 500
ANET price chart
1Y price change: +12.8% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| ANET | -15.3% | +31.6% | +12.8% | +54.6% | +47.8% | +41.9% | +37.2% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2014.
ANET key statistics
- Market cap
- $217.4B
- #51 in S&P 500
- P/E (TTM)
- 58.6x
- Forward P/E
- 33.0x
- EPS (TTM)
- $2.94
- Revenue (TTM)
- $10.5B
- +38%
- Free cash flow
- $5.2B
- Gross margin
- 63.0%
- Operating margin
- 45.4%
- Return on equity
- 31.5%
- Dividend yield
- None
- 52-week range
- $114.52 – $217.41
- Beta
- 1.60
- Price / sales
- 20.6x
- EV / EBITDA
- 44.0x
- Debt / equity
- —
- Employees
- 5,115
ANET report card
BTen fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth37.7%A
- Gross margin63.0%A
- Operating margin45.4%A
- FCF margin48.9%A
- Return on equity31.5%A
- Net debt / EBITDA-2.9xA
- Forward P/E33.0xD
- PEG ratio1.3xB
- Shareholder yield0.7%D
- Share count change / yr0.1%C
Arista Networks financials
Revenue went from $1.1B in fiscal 2016 to $9.0B in fiscal 2025, growing 25.9% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B | $1.6B | $2.2B | $2.4B | $2.3B | $2.9B | $4.4B | $5.9B | $7.0B | $9.0B |
| Gross profit | $723.1M | $1.1B | $1.4B | $1.5B | $1.5B | $1.9B | $2.7B | $3.6B | $4.5B | $5.8B |
| Operating income | $243.4M | $470.3M | $273.3M | $805.8M | $699.7M | $924.7M | $1.5B | $2.3B | $2.9B | $3.9B |
| Net income | $184.2M | $423.2M | $328.1M | $859.9M | $634.6M | $840.9M | $1.4B | $2.1B | $2.9B | $3.5B |
| EPS (diluted) | $0.16 | $0.33 | $0.25 | $0.67 | $0.50 | $0.66 | $1.07 | $1.65 | $2.23 | $2.75 |
| Free cash flow | $152.9M | $616.3M | $479.3M | $947.3M | $719.7M | $951.1M | $448.2M | $2.0B | $3.7B | $4.3B |
| Buybacks | — | $0 | $0 | $266.1M | $395.2M | $411.6M | $670.3M | $112.3M | $423.6M | $1.6B |
| Diluted shares | 1.2B | 1.3B | 1.3B | 1.3B | 1.3B | 1.3B | 1.3B | 1.3B | 1.3B | 1.3B |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into ANET?
A reverse DCF asks what growth the current price requires. With an enterprise value of $204.1B and $5.2B of trailing free cash flow, Arista Networks needs to grow free cash flow about 28.2% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 42.7% a year over the last five years.
P/E ratio history
Current 62.7x vs. median 52.7x (10th–90th percentile 36.8x–77.0x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
ANET analyst price targets
29 analysts' average 12-month target is $243.59 (+41% vs. $172.37). Targets range from $190.00 to $290.00. 97% rate it a buy.
ANET earnings
Next report: November 3, 2026. Arista Networks has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $3.0B (+38% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 4, 2026 | $0.89 | $1.02 | +15.2% |
| May 5, 2026 | $0.81 | $0.87 | +7.7% |
| Feb 12, 2026 | $0.76 | $0.82 | +8.2% |
| Nov 4, 2025 | $0.71 | $0.75 | +5.0% |
| Aug 5, 2025 | $0.65 | $0.73 | +12.4% |
| May 6, 2025 | $0.59 | $0.65 | +10.0% |
| Feb 18, 2025 | $0.57 | $0.65 | +14.0% |
| Nov 7, 2024 | $0.52 | $0.60 | +15.3% |
Stocks like ANET
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
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ANET news
- Arista Just Dropped 13% in a Week. Is It Time to Sell, or Load Up? · Oct 23, 2026
- Arista Networks vs. Salesforce: Which Technology Stock Is a Better Buy in 2026? · Oct 23, 2026
- Adobe vs. Arista Networks: Which Tech Stock Is a Better Buy in 2026? · Oct 23, 2026
- Arista Networks (ANET) Is Considered a Good Investment by Brokers: Is That True? · Oct 22, 2026
- Should You Pick Arista Networks Stock Over Its Competitors? · Oct 22, 2026
ANET stock FAQ
What is ANET's market cap?
Arista Networks's market capitalization is $217.40 billion as of October 23, 2026, ranking 51st in the S&P 500.
What is ANET's P/E ratio?
ANET trades at a trailing price-to-earnings ratio of 58.6x and a forward P/E of 33.0x. Its median P/E over the period we track is 52.7x.
Does ANET pay a dividend?
No. Arista Networks does not currently pay a regular cash dividend.
How much has ANET stock returned?
Including reinvested dividends, ANET returned +12.8% over one year, +47.8% a year over five years, +41.9% a year over ten years through October 23, 2026.
Is ANET stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Arista Networks must grow free cash flow about 28% a year for the next decade. Its free cash flow grew 43% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the ANET price target?
29 analysts cover ANET with an average 12-month price target of $243.59, +41% from the current price. 97% of them rate it a buy.
When does ANET report earnings?
Arista Networks is expected to report earnings on November 3, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does Arista Networks have?
Arista Networks has about 5,115 full-time employees, or $2.1 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology