# Arista Networks, Inc.: overview

ANET · NYSE · CIK 1596532 · [Technology](/sectors/technology.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/anet.md) · [Financials](/companies/anet/financials.md) · [Filings](/companies/anet/filings.md) · [Insiders](/companies/anet/insiders.md)

Latest reported revenue: [$3.04bn](/filings/0001596532-26-000175.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 5, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001596532-26-000175).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,811](/filings/0001596532-25-000286.md) | [1,930 d](/filings/0001596532-26-000013.md) | [2,005](/filings/0001596532-26-000078.md) | [2,205](/filings/0001596532-26-000175.md) | [2,308](/filings/0001596532-25-000286.md) | [2,488 d](/filings/0001596532-26-000013.md) | [2,709](/filings/0001596532-26-000078.md) | [3,036](/filings/0001596532-26-000175.md) |
| Gross margin | % | [64.2%](/filings/0001596532-25-000286.md) | [63.8% d](/filings/0001596532-26-000013.md) | [63.7%](/filings/0001596532-26-000078.md) | [65.2%](/filings/0001596532-26-000175.md) | [64.6%](/filings/0001596532-25-000286.md) | [62.9% d](/filings/0001596532-26-000013.md) | [61.9%](/filings/0001596532-26-000078.md) | [62.9%](/filings/0001596532-26-000175.md) |
| Operating margin | % | [43.4%](/filings/0001596532-25-000286.md) | [41.4% d](/filings/0001596532-26-000013.md) | [42.8%](/filings/0001596532-26-000078.md) | [44.7%](/filings/0001596532-26-000175.md) | [42.4%](/filings/0001596532-25-000286.md) | [41.5% d](/filings/0001596532-26-000013.md) | [42.7%](/filings/0001596532-26-000078.md) | [45.4%](/filings/0001596532-26-000175.md) |
| Net margin | % | [41.3%](/filings/0001596532-25-000286.md) | [41.5% d](/filings/0001596532-26-000013.md) | [40.6%](/filings/0001596532-26-000078.md) | [40.3%](/filings/0001596532-26-000175.md) | [37.0%](/filings/0001596532-25-000286.md) | [38.4% d](/filings/0001596532-26-000013.md) | [37.8%](/filings/0001596532-26-000078.md) | [40.0%](/filings/0001596532-26-000175.md) |
| Diluted EPS | $ per share | [0.58](/filings/0001596532-25-000286.md) | not reported | [0.64](/filings/0001596532-26-000078.md) | [0.70](/filings/0001596532-26-000175.md) | [0.67](/filings/0001596532-25-000286.md) | not reported | [0.80](/filings/0001596532-26-000078.md) | [0.95](/filings/0001596532-26-000175.md) |
| Free cash flow | $m | [1,168 d](/filings/0001596532-25-000286.md) | [1,019 d](/filings/0001596532-26-000013.md) | [613](/filings/0001596532-26-000078.md) | [1,176 d](/filings/0001596532-26-000175.md) | [1,238 d](/filings/0001596532-25-000286.md) | [1,225 d](/filings/0001596532-26-000013.md) | [1,639](/filings/0001596532-26-000078.md) | [1,053 d](/filings/0001596532-26-000175.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [2,948](/filings/0001596532-24-000043.md) | [4,381](/filings/0001596532-25-000028.md) | [5,860](/filings/0001596532-26-000013.md) | [7,003](/filings/0001596532-26-000013.md) | [9,006](/filings/0001596532-26-000013.md) |
| Gross margin | % | [63.8%](/filings/0001596532-24-000043.md) | [61.1%](/filings/0001596532-25-000028.md) | [61.9%](/filings/0001596532-26-000013.md) | [64.1%](/filings/0001596532-26-000013.md) | [64.1%](/filings/0001596532-26-000013.md) |
| Operating margin | % | [31.4%](/filings/0001596532-24-000043.md) | [34.9%](/filings/0001596532-25-000028.md) | [38.5%](/filings/0001596532-26-000013.md) | [42.0%](/filings/0001596532-26-000013.md) | [42.8%](/filings/0001596532-26-000013.md) |
| Net margin | % | [28.5%](/filings/0001596532-24-000043.md) | [30.9%](/filings/0001596532-25-000028.md) | [35.6%](/filings/0001596532-26-000013.md) | [40.7%](/filings/0001596532-26-000013.md) | [39.0%](/filings/0001596532-26-000013.md) |
| Diluted EPS | $ per share | [2.63](/filings/0001596532-24-000043.md) | [1.07](/filings/0001596532-25-000028.md) | [1.65](/filings/0001596532-26-000013.md) | [2.23](/filings/0001596532-26-000013.md) | [2.75](/filings/0001596532-26-000013.md) |
| Free cash flow | $m | [951](/filings/0001596532-24-000043.md) | [448](/filings/0001596532-25-000028.md) | [2,000](/filings/0001596532-26-000013.md) | [3,676](/filings/0001596532-26-000013.md) | [4,252](/filings/0001596532-26-000013.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/anet/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $15.52bn | 91,383,843 |  | Reduced −523,799 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $11.67bn | 68,688,349 |  | Added +418,143 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $8.18bn | 48,165,803 |  | Added +1,403,812 |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $8.04bn | 47,349,865 |  | Reduced −4,956,761 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $4.66bn | 27,505,753 |  | Added +276,473 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $4.38bn | 25,808,745 |  | Reduced −30,929 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $3.35bn | 19,696,435 |  | Added +1,191,258 |
| [Cresset Asset Management, LLC](/funds/1761013.md) | 2026-06-30 | $3.29bn | 19,368,054 |  | Reduced −1,324,657 |
| [Capital Research Global Investors](/funds/1422848.md) | 2026-06-30 | $2.24bn | 13,164,137 |  | Reduced −1,595,030 |
| [AMERIPRISE FINANCIAL INC](/funds/820027.md) | 2026-06-30 | $2.17bn | 12,800,606 |  | Added +2,771,999 |

## Recent filings

[All 2,121 filings](/companies/anet/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-05 | 18:08 ET | [10-Q](/filings/0001596532-26-000175.md) | Quarterly report, period 2026-06-30 | 0001596532-26-000175 |
| 2026-08-04 | 16:06 ET | [8-K](/filings/0001596532-26-000174.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001596532-26-000174 |
| 2026-06-02 | 16:06 ET | [8-K](/filings/0001596532-26-000118.md) | 5.07 Shareholder vote results | 0001596532-26-000118 |
| 2026-05-06 | 17:55 ET | [10-Q](/filings/0001596532-26-000078.md) | Quarterly report, period 2026-03-31 | 0001596532-26-000078 |
| 2026-05-05 | 16:06 ET | [8-K](/filings/0001596532-26-000074.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001596532-26-000074 |
| 2026-04-16 | 16:00 ET | [DEF 14A](/filings/0001193125-26-158942.md) | Proxy statement, period 2026-05-29 | 0001193125-26-158942 |
| 2026-02-17 | 19:12 ET | [10-K](/filings/0001596532-26-000013.md) | Annual report, period 2025-12-31 | 0001596532-26-000013 |
| 2026-02-12 | 16:07 ET | [8-K](/filings/0001596532-26-000010.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001596532-26-000010 |
| 2025-11-05 | 17:51 ET | [10-Q](/filings/0001596532-25-000286.md) | Quarterly report, period 2025-09-30 | 0001596532-25-000286 |
| 2025-11-04 | 16:08 ET | [8-K](/filings/0001596532-25-000284.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001596532-25-000284 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001596532-26-000013.md), filed Feb 17, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/4f92b55b-3b1c-4698-861b-7efbc6e46beb)

## About the filer

- CIK: 1596532
- Tickers: ANET
- Exchange: NYSE
- SIC code: 3576 Computer Communications Equipment
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 17:52 ET. No prices; not investment advice.