ANET
Arista Networks, Inc.
Technology • NYSE • CIK 0001596532
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Market Cap
$256.77B
P/E (TTM)
63.3x
Rev Growth (TTM)
+32.6%
Net Margin (TTM)
38.4%
FCF Yield (TTM)
2.0%
FCF Margin (TTM)
49.0%
Figures as of June 30, 2026
Data coverage notes
Borrowings: none identified in filed XBRL. MetricDuck reads the common debt concepts; a filer can tag borrowings under one it does not, so this is not evidence the company is debt-free — check the filing before treating debt as zero. Enterprise Value and net-debt figures assume zero borrowings.
Filings
Primary-source SEC disclosures, read end-to-end — every figure traceable to its filing.
10-Q2026 Q22026-08-04source
8-KEarnings2026-08-04source
8-KJun 20262026-06-02source
10-Q2026 Q12026-05-05source
8-KEarnings2026-05-05source
What your agent reads
Investor Relations
Company-published material — management’s own words, not SEC-audited. Each source below is labeled so your agent knows what to verify.
IR decks — not catalogued
Company-published, not SEC-audited
Earnings
Q2
about 2 months ago
8-K releaseRevenue
$3.04B
—
Net Income
$1.21B
+36.5%
EPS
$0.95
+35.7%
Most recent quarterly earnings snapshot
Cash Flow Health
Free Cash Flow8/8 positive
TTM$5.2B
Q2 '26
$1.1B-36%
Q1 '26
$1.6B+34%
FCF Margin
TTM49.0%
Q2 '2634.7%-43%
Sector: 10.3%Top 10%
OCF Margin
50.3%
OCF/NI1.31x
CapEx Coverage
38.4x
FCF Yield2.0%
FCF Growth (3Y)+91%
Cash Conversion Cycle
220 days
DSO: 63+DIO: 212−DPO: 55
Cash flow trends & capital efficiency
Capital Allocation
Total Shareholder YieldTTM
TTM0.2%
Dividend & Payout Metrics
Dividend Yield (TTM)—
Free Cash Flow (TTM)$5.2B
Stock Repurchases (TTM)$620.1M
Capital Return / FCF12.0%
Shares Outstanding (YoY)0.4%
Shows how management rewards shareholders
Valuation Metrics
Price-to-EarningsTTM
63.3x
Volatile
8Q: 41.7x+457%
Multiple expansion without fundamental improvement
Valuation Lenses
Earnings
63.3x
vs – sector
Cash Flow
47.1x
EV/FCF vs –
Growth-Adj
2.6xPEG
Expensive for growth
Quality-Adj
2.2P/E per %ROIC
ROIC: 29.1%
Shareholder Returns
Dividend
–
Buyback
0.2%
Total Yield
0.2%
Market Cap$256.77B
EV$243.42B
Multi-angle valuation analysis with sector context
Margins & Efficiency
ROIC 75th pctile
Profitability Cascade
Gross
63.0%
Operating
43.1%
Top 25% in sector
Net
38.4%
Margins Unknown
Return on Invested CapitalTTM
29.1%
Stable
-0.0% YoY8Q: 29.5%-0.1%
P25MedianP75
75th pctl (med: 3.7%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
35.0%
8Q: 36.6%
Asset Turnover
0.53x
8Q: 0.55x
Leverage (1+D/E)
–
Asset & CapEx Efficiency
Fixed Asset Turn
49.12x
8Q:60.35x
-3842.9%
Invested Cap Turn
0.87x
8Q:0.86x
+2.7%
CapEx Intensity
1.1%
8Q:0.9%
CapEx/Depreciation
1.49x
FCF vs Net Margin Gap+10.7 pts
Margin trends, ROIC, and capital efficiency
Balance Sheet & Solvency
ND/EBITDA -0.5x
Net Debt / EBITDA
-0.5x
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
–
Balance sheet risk & solvency analysis
Related Research
3 related posts