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Arista Networks, Inc. (ANET) Income statement

Market cap

$218.6B

P/E ratio

63.3x

Summary Financials

Income statement Balance sheet Cash flow Other

	2014/12	2015/12	2016/12	2017/12	2018/12	2019/12	2020/12	2021/12	2022/12	2023/12	2024/12	2025/12
Revenue	584	838	1,129	1,646	2,151	2,411	2,318	2,948	4,381	5,860	7,003	9,006
Revenue growth (%)	-
Cost of revenue	192	294	406	584	778	866	836	1,067	1,706	2,230	2,512	3,237
Gross profit	392	544	723	1,062	1,373	1,544	1,482	1,881	2,676	3,630	4,491	5,769
Gross margin (%)
Research & development	149	209	274	350	442	463	487	587	728	855	997	1,237
Operating margin (%)
Operating expenses	267	394	480	591	1,100	739	782	956	1,149	1,373	1,547	1,913
Operating income	126	149	243	470	273	806	700	925	1,527	2,257	2,945	3,856
Income before tax	122	146	242	475	289	862	739	931	1,582	2,422	3,265	4,250
Pretax margin (%)	20.8	17.4	21.5	28.8	13.4	35.8	31.9	31.6	36.1	41.3	46.6	47.2
Provision for income taxes	35	25	58	52	-39	2	104	90	229	335	413	738
Effective tax rate (%)
Net income	87	121	184	423	328	860	635	841	1,352	2,087	2,852	3,511
Net income margin (%)
Earnings per share	1.42	1.81	2.66	5.85	4.39	11.26	8.35	2.74	4.41	6.75	2.27	2.79
Diluted EPS	1.29	1.67	2.5	5.35	4.06	10.63	7.99	2.63	4.27	6.58	2.23	2.75
EBITDA
EBITDA margin (%)