Stocks · Technology · Computer Hardware
Arista Networks, Inc. ANET
$207.35 +1.40% Close, Oct 2, 2026 · NYSE · Market cap $261.09B
Strong growthHigh qualityStrong trend
Next earnings report: Nov 3, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- At 65.4× trailing earnings, the shares trade at the highest P/E of the company's past five years.
- Earnings beat analyst estimates in each of the last 14 quarters (average surprise over the last four: +8.9%).
- Revenue over the last four quarters was $10.54B, up 32.6% from a year earlier, accelerating from 30.6% a quarter earlier.
PromtFinance scores
Each score is a percentile within the Technology sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 16%
- EPS growth (TTM, YoY)Top 42%
- FCF growth (TTM, YoY)Top 42%
- Revenue growth, 3-year CAGRTop 14%
- Revenue growth accelerationTop 36%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 8%
- Gross marginTop 36%
- Operating marginTop 3%
- Cash conversion (OCF / net income)Bottom 31%
- Accruals (lower is better)Bottom 42%
- Net debt / EBITDA (lower is better)Top 35%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 46%
- Free-cash-flow yieldBottom 41%
- EBITDA / enterprise valueBottom 42%
- Sales / enterprise valueBottom 10%
- P/E vs own 5-year history (lower is better)Bottom 4%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 35%
- 6-month returnTop 21%
- 1-year return vs S&P 500Top 34%
- Distance from 52-week highTop 8%
- Trend checklist (0–4)Top 18%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 48%
- Consecutive EPS beatsTop 9%
- Share of analysts rating BuyTop 29%
- Upside to consensus price targetBottom 29%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 29%
- Maximum drawdown, 3 yearsTop 28%
- Beta vs S&P 500 (lower is better)Bottom 25%
- Net debt / EBITDA (lower is better)Top 35%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 30.6% | 32.6% | ↑ |
| EPS growth (YoY) | 23.7% | 24.8% | ↑ |
| Gross margin | 64.2% | 63.0% | ↓ |
| Operating margin | 43.1% | 43.1% | ↓ |
| FCF margin | 50.0% | 48.9% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 32.6% | 30.6% | ↑ | Top 16% |
| EPS growth (TTM, YoY) | 24.8% | 23.7% | ↑ | Top 42% |
| Gross margin | 63.0% | 64.2% | ↓ | Top 36% |
| Operating margin | 43.1% | 43.1% | ↓ | Top 3% |
| Net margin | 38.4% | 40.9% | ↓ | — |
| Free-cash-flow margin | 48.9% | 50.0% | ↓ | — |
| Return on invested capital | 21.8% | — | Top 8% | |
| Revenue growth, 3-year CAGR | 27.1% | — | Top 14% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 1.31×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -5.3%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 4.8%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +7.0 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- -0.45×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- 0.21%
- Shareholder yield
- 0.21%
- Share count change, 1 year
- +0.3%
- Share count change, 3-year CAGR
- +0.2%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 5, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 14
- Beats in the last 8 reports
- 8 of 8
- Average EPS surprise, last 4
- +8.9%
- Average 2-day reaction, last 8
- -0.1%
- Positive 20 days after report
- 5 of 8
Analysts
- Consensus price target
- $226.64
- Target vs current price
- +9.3%
- Analysts with a rating
- 53
- Share rating Buy or Strong Buy
- 77%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 4, 2026 | +15.1% | +3.0% | +3.6% | +5.8% | — |
| May 5, 2026 | +7.7% | -1.4% | -21.0% | +1.6% | -0.9% |
| Feb 12, 2026 | +8.2% | -3.9% | -2.4% | -4.7% | +0.8% |
| Nov 4, 2025 | +4.5% | -2.6% | -12.9% | -19.3% | -10.1% |
| Aug 5, 2025 | +12.5% | -1.9% | +14.4% | +12.9% | +30.3% |
| May 6, 2025 | +10.2% | +0.4% | +2.1% | +4.6% | +36.3% |
| Feb 18, 2025 | +14.6% | +3.9% | -13.3% | -20.4% | -9.0% |
| Nov 7, 2024 | +15.4% | +1.9% | -6.6% | +1.0% | +9.2% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 4, 2026 | $1.02 | $0.89 | +15.1% | $3.04B |
| May 5, 2026 | $0.87 | $0.81 | +7.7% | $2.71B |
| Feb 12, 2026 | $0.82 | $0.76 | +8.2% | $2.49B |
| Nov 4, 2025 | $0.75 | $0.72 | +4.5% | $2.31B |
| Aug 5, 2025 | $0.73 | $0.65 | +12.5% | $2.20B |
| May 6, 2025 | $0.65 | $0.59 | +10.2% | $2.00B |
| Feb 18, 2025 | $0.65 | $0.57 | +14.6% | $1.93B |
| Nov 7, 2024 | $0.60 | $0.52 | +15.4% | $1.81B |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 65.4× | 42.3× | 100th | Top 46% |
| P/E (forward) | 50.5× | — | — | — |
| EV / EBITDA | 50.7× | — | — | Bottom 42% |
| EV / Sales | 24.55× | — | — | Bottom 10% |
| Free-cash-flow yield | 1.97% | — | — | Bottom 41% |
| Earnings yield | 1.53% | — | — | Top 46% |
P/E over the past five years
Range 27.9× – 62.2× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +38.9%
- Earnings per share growth (TTM)
- +24.8%
- Change in P/E multiple
- +13.9%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✓ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 46
- Days above the 200-day average
- 100
- 50-day average slope (20 days)
- +6.1%
- 200-day average slope (20 days)
- +4.8%
- Distance from 50-day average
- +7.2%
- Distance from 200-day average
- +30.5%
- RSI (14)
- 60.2
- Relative volume
- 0.87×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 47.4%
- Volatility vs own 5-year history
- 56th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 2.01
- Correlation with S&P 500
- 0.59
- Current drawdown from 1-year high
- -1.5%
- Maximum drawdown, 3 years
- -50.4%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Jan 22, 2025 | Apr 4, 2025 | -50.4% | 51 days | 84 days (Aug 6, 2025) |
| Dec 27, 2021 | Jun 16, 2022 | -38.4% | 119 days | 181 days (Mar 8, 2023) |
| Oct 29, 2025 | Mar 30, 2026 | -28.3% | 103 days | 13 days (Apr 17, 2026) |
| Apr 22, 2026 | May 11, 2026 | -23.2% | 13 days | 39 days (Jul 8, 2026) |
| Mar 23, 2023 | May 3, 2023 | -21.6% | 28 days | 17 days (May 26, 2023) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $261.09B
- P/E (TTM)
- 65.4
- EPS, diluted (TTM)
- $3.17
- Revenue (TTM)
- $10.54B
- 52-week range
- $114.52 – $214.89
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $2.95B | $4.38B | $5.86B | $7.00B | $9.01B |
| Gross profit | $1.88B | $2.68B | $3.63B | $4.49B | $5.77B |
| Operating income | $924.7M | $1.53B | $2.26B | $2.94B | $3.86B |
| Net income | $840.9M | $1.35B | $2.09B | $2.85B | $3.51B |
| EPS (diluted) | $0.66 | $1.07 | $1.65 | $2.23 | $2.75 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.81B | $1.93B | $2.00B | $2.20B | $2.31B | $2.49B | $2.71B | $3.04B |
| Net income | $748.0M | $801.0M | $813.8M | $888.8M | $853.0M | $955.8M | $1.02B | $1.21B |
| EPS (diluted) | $0.58 | $0.62 | $0.64 | $0.70 | $0.67 | $0.75 | $0.80 | $0.95 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $1.02B | $492.8M | $2.03B | $3.71B | $4.37B |
| Capital expenditure | -$64.7M | -$44.6M | -$34.4M | -$32.0M | -$119.5M |
| Free cash flow | $951.1M | $448.2M | $2.00B | $3.68B | $4.25B |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | -$344.4M | -$621.9M | -$50.2M | -$363.4M | -$1.55B |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $13.34B
- Total assets
- $23.72B
- Total liabilities
- $8.92B
- Total debt
- $0
- Net debt
- -$2.29B
- Shareholders’ equity
- $14.80B
As of Jun 30, 2026 (filed Aug 5, 2026).
Short interest
- Shares sold short
- 13,245,323
- Days to cover
- 3.04
- Change vs previous report
- -8.7%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Dec 4, 2024
- 4-for-1
- Nov 18, 2021
- 4-for-1