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Arista Networks (ANET)
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Arista Networks Income Statement 2025-2011 | ANET
Brief overview of financial performance at Arista Networks
The overview follows changes across a five-year period. Arista Networks reported revenue of 2.3 billion dollars in 2020 and 9 billion dollars by 2025. The total change was +288.6%, with a CAGR of approximately 31.2%. The company expanded its revenue base at a high speed.
At the gross-profit level, the result moved from 1.5 billion dollars to 5.8 billion dollars, a change of +289.3%. There was no major divergence between sales and cost of revenue. At the margin level, the figure shifted from 63.9% to 64.1%. Gross profitability remained broadly stable.
EBITDA was $735 million at the beginning and $3.9 billion at the end of the period (+434.6%). EBITDA expanded faster than the top line. The EBITDA share of revenue changed from 31.7% to 43.6%. A wider margin confirms stronger operating efficiency.
Net profit was 635 million dollars at the start and 3.5 billion dollars at the end. Net income reached a five-year high at the end of the interval.
Market capitalization changed from $21.3 billion to $167 billion (+686.7%). The market value rose well beyond the pace of financial improvement.
What the figures show
The financial trajectory looks strong and well balanced. Key strengths include revenue expansion, steady gross profitability and net-income growth. Further direction will depend on top-line growth, operating profitability, and net income.
Annual Income Statement Arista Networks
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
167 B | 124 B | 331 B | 222 B | 37.6 B | 21.3 B | 14.7 B | 5.33 B | 4.87 B | 6.44 B | 3.96 B | 3.06 B | - | - | - |
Shares |
1.26 B | 1.26 B | 1.24 B | 1.23 B | 307 M | 304 M | 305 M | 74.8 M | 72.3 M | 68.8 M | 66 M | 48.4 M | - | - | - |
Historical Prices |
133 | 98.8 | 267 | 181 | 123 | 70 | 48.3 | 71.3 | 67.4 | 29.7 | 17.1 | 17.3 | - | - | - |
Net Income |
3.51 B | 2.85 B | 2.09 B | 1.35 B | 841 M | 635 M | 860 M | 328 M | 423 M | 184 M | 121 M | 86.8 M | 42.5 M | 21.3 M | 34 M |
Revenue |
9.01 B | 7 B | 5.86 B | 4.38 B | 2.95 B | 2.32 B | 2.41 B | 2.15 B | 1.65 B | 1.13 B | 838 M | 584 M | 361 M | 193 M | 140 M |
Cost of Revenue |
3.24 B | 2.51 B | 2.23 B | 1.71 B | 1.07 B | 836 M | 866 M | 778 M | 584 M | 406 M | 294 M | 192 M | 123 M | 61.3 M | - |
Gross Profit |
5.77 B | 4.49 B | 3.63 B | 2.68 B | 1.88 B | 1.48 B | 1.54 B | 1.37 B | 1.06 B | 723 M | 544 M | 392 M | 239 M | 132 M | 96.5 M |
Operating Income |
3.86 B | 2.94 B | 2.26 B | 1.53 B | 925 M | 700 M | 806 M | 273 M | 470 M | 243 M | 149 M | 126 M | 66.1 M | 39.9 M | - |
Interest Expense |
- | - | - | - | - | 5.54 M | 11.2 M | 5.51 M | 2.78 M | 3.14 M | -147 K | 2.28 M | -754 K | 135 K | - |
EBITDA |
3.93 B | 3.01 B | 2.33 B | 1.59 B | 975 M | 735 M | 839 M | 301 M | 491 M | 263 M | 163 M | 136 M | 71.2 M | 41.7 M | 45.7 M |
Operating Expenses |
1.91 B | 1.55 B | 1.37 B | 1.15 B | 956 M | 782 M | 739 M | 695 M | 591 M | 480 M | 394 M | 267 M | 172 M | 92.3 M | 52.1 M |
General and Administrative Expenses |
142 M | 123 M | 119 M | 93.2 M | 83.1 M | 66.2 M | 61.9 M | 65.4 M | 86.8 M | 75.2 M | 75.7 M | 32.3 M | 18.7 M | 8.5 M | 6.22 M |
Annual performance
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All numbers in USD currency
Quarterly Income Statement Arista Networks
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
1.26 B | 1.26 B | -17.6 M | 1.26 B | 1.25 B | 1.25 B | - | 1.26 B | 1.25 B | 1.25 B | - | 310 M | 309 M | 307 M | - | 305 M | 307 M | 308 M | 308 M | 307 M | 306 M | 305 M | 305 M | 76 M | 75.8 M | 76.3 M | 76.4 M | 76.4 M | 76.6 M | 75.9 M | 75.7 M | 75 M | 74.5 M | 74 M | 73.7 M | 72.6 M | 72 M | 71.1 M | 70.8 M | 69.1 M | 68.3 M | 67.7 M | 68.1 M | 66.6 M | 65.5 M | 64.6 M | 65.5 M | 62.4 M | 38.5 M | 29.1 M | 31.9 M | 27.6 M | 26.9 M | - | - | - | - | - | - | - | - | - |
Net Income |
889 M | 814 M | 36.2 M | 748 M | 665 M | 638 M | - | 748 M | 665 M | 638 M | - | 545 M | 492 M | 436 M | - | 354 M | 299 M | 272 M | - | 224 M | 197 M | 180 M | 183 M | 168 M | 145 M | 138 M | 261 M | 209 M | 189 M | 201 M | 170 M | 169 M | -155 M | 145 M | 104 M | 134 M | 103 M | 83 M | 58.8 M | 51.3 M | 38.9 M | 35.2 M | 43.9 M | 28.7 M | 24 M | 24.5 M | 31 M | 21.9 M | 21.6 M | 12.3 M | - | 11.9 M | 10.3 M | - | - | - | - | - | - | - | - | - |
Revenue |
2.2 B | 2 B | 788 M | 1.81 B | 1.69 B | 1.57 B | - | - | - | - | - | - | - | - | - | - | - | 877 M | - | 749 M | 707 M | 668 M | 648 M | 605 M | 541 M | 523 M | 553 M | 654 M | 608 M | 595 M | 596 M | 563 M | 520 M | 472 M | 468 M | 438 M | 405 M | 335 M | 328 M | 290 M | 269 M | 242 M | 245 M | 218 M | 196 M | 179 M | 173 M | 155 M | 138 M | 117 M | - | 102 M | 83.5 M | - | - | - | - | - | - | - | - | - |
Cost of Revenue |
766 M | 729 M | 418 M | 649 M | 593 M | 570 M | - | 649 M | 593 M | 570 M | - | 567 M | 575 M | 547 M | - | 467 M | 409 M | 323 M | - | 270 M | 253 M | 242 M | 234 M | 220 M | 196 M | 185 M | 196 M | 237 M | 218 M | 215 M | 221 M | 202 M | 186 M | 170 M | 161 M | 157 M | 145 M | 121 M | 118 M | 104 M | 97.3 M | 87.1 M | 89.3 M | 75.8 M | 67.7 M | 61.3 M | 57 M | 54.5 M | 44.6 M | 35.9 M | - | 36.6 M | 29.6 M | - | - | - | - | - | - | - | - | - |
Gross Profit |
1.44 B | 1.28 B | 370 M | 1.16 B | 1.1 B | 1 B | - | 1.16 B | 1.1 B | 1 B | - | 942 M | 884 M | 805 M | - | 710 M | 643 M | 554 M | - | 479 M | 454 M | 425 M | 415 M | 385 M | 344 M | 338 M | 356 M | 417 M | 390 M | 381 M | 375 M | 362 M | 334 M | 303 M | 307 M | 281 M | 260 M | 214 M | 210 M | 186 M | 171 M | 155 M | 156 M | 142 M | 128 M | 118 M | 116 M | 101 M | 93.4 M | 81.3 M | - | 65 M | 53.9 M | - | - | - | - | - | - | - | - | - |
Operating Income |
986 M | 859 M | 112 M | 785 M | 700 M | 660 M | - | 785 M | 700 M | 660 M | - | 603 M | 530 M | 485 M | - | 417 M | 363 M | 278 M | - | 233 M | 219 M | 206 M | 195 M | 188 M | 167 M | 150 M | 176 M | 229 M | 207 M | 194 M | 194 M | 181 M | -240 M | 139 M | 139 M | 141 M | 117 M | 73.4 M | 77.5 M | 63 M | 53.2 M | 49.7 M | 49.4 M | 31.3 M | 32.9 M | 35.8 M | 39 M | 33.9 M | 30.7 M | 22 M | - | 18.6 M | 16.3 M | - | - | - | - | - | - | - | - | - |
Interest Expense |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 5.54 M | 13.2 M | 8.26 M | 12.2 M | 11.2 M | - | - | - | 5.51 M | 673 K | 680 K | 687 K | 2.99 M | 701 K | 623 K | 1.02 M | 560 K | 639 K | 416 K | 337 K | -109 K | 13 K | 417 K | -468 K | -151 K | -824 K | 3.24 M | 8 K | - | -23 K | -1 K | - | - | - | - | - | - | - | - | - |
EBITDA |
999 M | 873 M | -14.2 M | 794 M | 708 M | 666 M | - | - | - | 676 M | - | - | - | 505 M | - | 417 M | 363 M | 291 M | - | 238 M | 224 M | 219 M | 195 M | 220 M | 188 M | 160 M | 176 M | 254 M | 224 M | 203 M | 194 M | 199 M | -228 M | 144 M | 139 M | 156 M | 127 M | 78.4 M | 77.5 M | 77.8 M | 62.8 M | 54.5 M | 49.4 M | 41 M | 39.1 M | 38.6 M | 39 M | 41.2 M | 35.4 M | 24.3 M | - | 21.1 M | 17.7 M | - | - | - | - | - | - | - | - | - |
Operating Expenses |
452 M | 417 M | 258 M | 376 M | 398 M | 341 M | - | - | - | - | - | - | - | - | - | - | - | 276 M | - | 245 M | 235 M | 219 M | 220 M | 197 M | 177 M | 189 M | 180 M | 189 M | 183 M | 186 M | 181 M | 181 M | 574 M | 164 M | 168 M | 140 M | 143 M | 141 M | 133 M | 123 M | 118 M | 105 M | 107 M | 110 M | 95 M | 82 M | 77.4 M | 67.1 M | 62.7 M | 59.3 M | - | 46.4 M | 37.6 M | - | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
29.4 M | 34.3 M | 31.8 M | 33.8 M | 25.7 M | 27.7 M | - | - | - | - | - | - | - | - | - | - | - | 23.1 M | - | 22.5 M | 20.9 M | 15.5 M | 18.4 M | 15.1 M | 14.3 M | 18.3 M | 15.7 M | 14.7 M | 16 M | 15.5 M | 12 M | 15.3 M | 18.4 M | 19.7 M | 21.8 M | 19.5 M | 23.3 M | 22.2 M | 22.9 M | 19.5 M | 17.5 M | 15.2 M | 18 M | 25.2 M | 18.4 M | 14.1 M | 8.08 M | 9.9 M | 7.13 M | 7.23 M | - | 5.24 M | 3.51 M | - | - | - | - | - | - | - | - | - |
Quarterly performance
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All numbers in USD currency
The income statement is one of the three key financial reports of a company Arista Networks (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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