Arista Networks: revenue, profit and cash flow

In fiscal 2025, Arista Networks had revenue of $9.01B, up 26.8% a year on average since 2015, and net income of $3.51B (39.0% of revenue). It has 12% more shares than in 2015.

Revenue, fiscal 2025

$9.01B+26.8% a year

average annual revenue growth since 2015 · +28.6% vs 2024

Net income, 2025

$3.51B

39.0% of revenue

Diluted EPS, 2025

$2.75

38.7% a year since 2015

Revenue growth, 5 years

31.2% a year

since 2020

Shares, 2025

1.28B

+11.7% since 2015

Free cash flow, 2025

$4.25B

$4.37B from operations − $120M capex

Ticker: ANET · NYSE
Sector: Information Technology
Sub-industry: Communications Equipment
Headquarters: Santa Clara, California
Founded: 2004
In the S&P 500 since: August 28, 2018
Latest fiscal year: 2025, ended December 31, 2025
SEC filer: Arista Networks, Inc. · CIK 0001596532

Revenue and net income

Revenue went from $193M in 2012 to $9.01B in 2025.

RevenueNet income

Fiscal years · US dollarsSource: SEC EDGAR (company filings)

Diluted earnings per share

Diluted EPS went from $0.02 in 2012 to $2.75 in 2025. Ten-year growth: 38.7% a year.

Fiscal years · US dollars per share, adjusted for splitsSource: SEC EDGAR (company filings)

Shares outstanding

11.7% more shares in 2025 than in 2015 (1.14B → 1.28B): new shares outweighed buybacks.

Fiscal years · diluted weighted-average shares, adjusted for splitsSource: SEC EDGAR (company filings)

Operating cash flow, capex and free cash flow

Free cash flow (operating cash flow minus capital expenditure) was $4.25B in 2025, 47.2% of revenue.

Operating cash flowCapital expenditureFree cash flow

Fiscal years · US dollarsSource: SEC EDGAR (company filings)

Year by year

Fiscal year	Revenue	Net income	Net margin	Diluted EPS	Shares	Operating cash flow	Capex	Free cash flow
2025	$9.01B	$3.51B	39.0%	$2.75	1.28B	$4.37B	$120M	$4.25B
2024	$7.0B	$2.85B	40.7%	$2.23	1.28B	$3.71B	$32M	$3.68B
2023	$5.86B	$2.09B	35.6%	$1.65	1.27B	$2.03B	$34.4M	$2.0B
2022	$4.38B	$1.35B	30.9%	$1.07	1.27B	$493M	$44.6M	$448M
2021	$2.95B	$841M	28.5%	$0.66	1.28B	$1.02B	$64.7M	$951M
2020	$2.32B	$635M	27.4%	$0.50	1.27B	$735M	$15.4M	$720M
2019	$2.41B	$860M	35.7%	$0.67	1.29B	$963M	$15.8M	$947M
2018	$2.15B	$328M	15.3%	$0.25	1.29B	$503M	$23.8M	$479M
2017	$1.65B	$423M	25.7%	$0.33	1.26B	$632M	$15.3M	$616M
2016	$1.13B	$184M	16.3%	$0.16	1.17B	$174M	$21.4M	$153M
2015	$838M	$121M	14.5%	$0.10	1.14B	$238M	$20M	$218M
2014	$584M	$86.8M	14.9%	$0.08	873M	$132M	$13.1M	$119M
2013	$361M	$42.5M	11.8%	$0.04	481M	$34.6M	$20.3M	$14.3M
2012	$193M	$21.3M	11.0%	$0.02	398M	$26.3M	$3.31M	$23M

Fiscal years, labelled by the year in which they end. US dollars; per-share figures and share counts adjusted for splits. —: not in the data.

Stock splits

Found in the filings; per-share figures and share counts on this page are on today’s share basis.

4-for-1 split · first reflected in a filing of February 19, 2025
4-for-1 split · first reflected in a filing of February 15, 2022

About these figures

No dividends per share in the filings data. Usually that means no dividend, but some companies report theirs in a form the data do not capture.
Older years are as filed at the time and may predate later restatements, mergers or spin-offs. How the figures are made.