olivLaw · US equity research
Arista Networks, Inc. ANET
Computer Communications Equipment · SIC 3576 · Vertical: Computer Communications Equipment (SIC 3576)
Arista Networks (,) supplies networking solutions for AI and data centers, reporting fiscal 2025 revenue of 9005.7 million USD and a gross margin of 64.1%. In the second quarter of 2026 revenue reached 3.036 billion USD, up 37.7% year over year. The company remains dependent on a few large customers that account for a substantial share of sales.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Arista Networks, Inc. (ANET) stock was 178.48 USD (+5.04% on the day), with market capitalisation 225.5 bn USD, P/E 48.0 on diluted EPS of 3.72 USD over the last 12 months, beta 1.89, 52-week range 116.13–216.74 USD. Latest reported quarter (Q3 2026): revenue of 3.7 bn USD (+58.5% YoY), net income of 1.6 bn USD (+82.9% YoY), diluted EPS 1.22 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 45.1
- neutral
- Bollinger (20, 2)
- 156.13 – 214.83
- in the lower half of the band · %B 0.38 · band width 31.7%
- SMA 50 / 200
- 194.12 / 165.79
- mixed trend
- MACD (12, 26, 9)
- -6.95 / -5.93
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −13.7% | −1.1% | −12.6 pp | — |
| 3 months | −9.5% | −0.5% | −9.1 pp | — |
| 6 months | +21.4% | +4.4% | +17.0 pp | — |
| Year to date | +36.2% | +12.3% | +23.9 pp | — |
| 1 year | +16.2% | +13.5% | +2.7 pp | −9.0% |
| 3 years | +236.0% | +76.4% | +159.6 pp | +48.3% |
| 5 years | +438.3% | +63.7% | +374.6 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.9 bn | 2.0 bn | 2.2 bn | 2.3 bn | 2.5 bn | 2.7 bn | 3.0 bn | 3.7 bn |
| Cost of revenue | 699.4 m | 728.7 m | 766.2 m | 818.1 m | 924.0 m | 1.0 bn | 1.1 bn | 1.3 bn |
| Gross profit | 1.2 bn | 1.3 bn | 1.4 bn | 1.5 bn | 1.6 bn | 1.7 bn | 1.9 bn | 2.3 bn |
| Research & development | 285.0 m | 266.4 m | 296.5 m | 326.0 m | 348.4 m | 343.7 m | 348.2 m | 486.9 m |
| Operating income | 799.6 m | 858.8 m | 986.2 m | 978.2 m | 1.0 bn | 1.2 bn | 1.4 bn | 1.6 bn |
| Depreciation & amortisation | 15.3 m | 13.8 m | 12.8 m ≈ | 23.2 m ≈ | 22.8 m | 23.3 m | 23.4 m ≈ | 23.6 m ≈ |
| Pre-tax income | 889.0 m | 955.0 m | 1.1 bn | 1.1 bn | 1.1 bn | 1.3 bn | 1.5 bn | 1.9 bn |
| Income tax | 88.0 m | 141.2 m | 191.4 m | 224.1 m | 181.6 m | 248.5 m | 291.4 m | 355.1 m |
| Net income | 801.0 m | 813.8 m | 888.8 m | 853.0 m | 955.8 m | 1.0 bn | 1.2 bn | 1.6 bn |
| Diluted EPS | 0.62 ≈ | 0.64 | 0.70 | 0.67 | 0.75 ≈ | 0.80 | 0.95 | 1.22 |
| Operating cash flow | 1.0 bn | 641.7 m | 1.2 bn ≈ | 1.3 bn ≈ | 1.3 bn | 1.7 bn | 1.1 bn ≈ | 1.2 bn ≈ |
| Capex | 12.4 m | 28.4 m | 24.0 m ≈ | 30.1 m ≈ | 37.0 m | 54.5 m | 29.7 m ≈ | 100.7 m ≈ |
| Share repurchases | 123.8 m | 787.1 m | 195.9 m ≈ | 0 ≈ | 620.1 m | 0 | 0 ≈ | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 89 percentile of its own 44-quarter history (min 1.2, median 5.3, max 55.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.2 bn | 2.4 bn | 2.3 bn | 2.9 bn | 4.4 bn | 5.9 bn | 7.0 bn | 9.0 bn |
| Revenue YoY | +30.7% | +12.1% | −3.9% | +27.2% | +48.6% | +33.8% | +19.5% | +28.6% |
| Net income | 328.1 m | 859.9 m | 634.6 m | 840.9 m | 1.4 bn | 2.1 bn | 2.9 bn | 3.5 bn |
| Net income YoY | −22.5% | +162.1% | −26.2% | +32.5% | +60.8% | +54.3% | +36.6% | +23.1% |
| Diluted EPS | 4.06 | 2.66 | 2.00 | 2.63 | 1.07 | 1.65 | 2.23 | 2.75 |
| Diluted EPS YoY | −24.1% | −34.5% | −24.8% | +31.5% | −59.3% | +54.2% | +35.2% | +23.3% |
| net % | 15.3% | 35.7% | 27.4% | 28.5% | 30.9% | 35.6% | 40.7% | 39.0% |
| Free cash flow | 479.3 m | 947.3 m | 719.7 m | 951.1 m | 448.2 m | 2.0 bn | 3.7 bn | 4.3 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 2.0 bn USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 12.4 bn USD
- Total assets
- 19.4 bn USD
- Debt / equity
- unavailable
- Current ratio
- 3.05x
- ROE
- 31.4%
- ROA
- 21.0%
- FCF margin
- 47.2%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.3 bn | 2.9 bn | 4.4 bn | 5.9 bn | 7.0 bn | 9.0 bn | SEC (XBRL)· 17 Feb 2026verified |
| Cost of revenue | 835.6 m | 1.1 bn | 1.7 bn | 2.2 bn | 2.5 bn | 3.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Gross profit | 1.5 bn | 1.9 bn | 2.7 bn | 3.6 bn | 4.5 bn | 5.8 bn | SEC (XBRL)· 17 Feb 2026verified |
| Research & development | 486.6 m | 586.8 m | 728.4 m | 854.9 m | 996.7 m | 1.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Operating income | 699.7 m | 924.7 m | 1.5 bn | 2.3 bn | 2.9 bn | 3.9 bn | SEC (XBRL)· 17 Feb 2026verified |
| Depreciation & amortisation | 35.2 m | 50.3 m | 62.7 m | 70.6 m | 62.0 m | 72.6 m | SEC (XBRL)· 17 Feb 2026verified |
| EBITDA | 734.8 m ≈ | 975.1 m ≈ | 1.6 bn ≈ | 2.3 bn ≈ | 3.0 bn ≈ | 3.9 bn ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Pre-tax income | 738.9 m | 930.9 m | 1.6 bn | 2.4 bn | 3.3 bn | 4.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Income tax | 104.3 m | 90.0 m | 229.4 m | 334.7 m | 413.0 m | 738.3 m | SEC (XBRL)· 17 Feb 2026verified |
| Net income | 634.6 m | 840.9 m | 1.4 bn | 2.1 bn | 2.9 bn | 3.5 bn | SEC (XBRL)· 17 Feb 2026verified |
| Diluted EPS | 2.00 | 2.63 | 1.07 | 1.65 | 2.23 | 2.75 | SEC (XBRL)· 17 Feb 2026verified |
| Weighted average diluted shares | 317.9 m | 319.2 m | 1.3 bn | 1.3 bn | 1.3 bn | 1.3 bn | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 893.2 m | 620.8 m | 671.7 m | 1.9 bn | 2.8 bn | 2.0 bn | SEC (XBRL)· 17 Feb 2026verified |
| Receivables | 389.5 m | 516.5 m | 923.1 m | 1.0 bn | 1.1 bn | 1.9 bn | SEC (XBRL)· 17 Feb 2026verified |
| Inventories | 479.7 m | 650.1 m | 1.3 bn | 1.9 bn | 1.8 bn | 2.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Current assets | 3.8 bn | 4.8 bn | 5.6 bn | 8.4 bn | 11.9 bn | 16.4 bn | SEC (XBRL)· 17 Feb 2026verified |
| Property, plant & equipment, net | 32.2 m | 78.6 m | 95.0 m | 101.6 m | 98.8 m | 203.1 m | SEC (XBRL)· 17 Feb 2026verified |
| Goodwill | 189.7 m | 188.4 m | 265.9 m | 268.5 m | 268.5 m | 416.1 m | SEC (XBRL)· 17 Feb 2026verified |
| Intangibles (excl. goodwill) | 122.8 m | 93.6 m | 122.2 m | 88.8 m | 62.0 m | 288.8 m | SEC (XBRL)· 17 Feb 2026verified |
| Total assets | 4.7 bn | 5.7 bn | 6.8 bn | 10.0 bn | 14.0 bn | 19.4 bn | SEC (XBRL)· 17 Feb 2026verified |
| Accounts payable | 134.2 m | 202.6 m | 232.6 m | 435.1 m | 381.1 m | 651.7 m | SEC (XBRL)· 17 Feb 2026verified |
| Current liabilities | 768.2 m | 1.1 bn | 1.3 bn | 1.9 bn | 2.7 bn | 5.4 bn | SEC (XBRL)· 17 Feb 2026verified |
| Total liabilities | 1.4 bn | 1.8 bn | 1.9 bn | 2.7 bn | 4.0 bn | 7.1 bn | SEC (XBRL)· 17 Feb 2026verified |
| Equity | 3.3 bn † | 4.0 bn † | 4.9 bn † | 7.2 bn † | 10.0 bn † | 12.4 bn † | SEC (XBRL)· 17 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 735.1 m | 1.0 bn | 492.8 m | 2.0 bn | 3.7 bn | 4.4 bn | SEC (XBRL)· 17 Feb 2026verified |
| Capex | 15.4 m | 64.7 m | 44.6 m | 34.4 m | 32.0 m | 119.5 m | SEC (XBRL)· 17 Feb 2026verified |
| Free cash flow | 719.7 m ≈ | 951.1 m ≈ | 448.2 m ≈ | 2.0 bn ≈ | 3.7 bn ≈ | 4.3 bn ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Investing cash flow | -608.8 m | -925.6 m | 216.3 m | -687.5 m | -2.5 bn | -3.6 bn | SEC (XBRL)· 17 Feb 2026verified |
| Financing cash flow | -346.3 m | -360.9 m | -654.6 m | -83.8 m | -421.8 m | -1.6 bn | SEC (XBRL)· 17 Feb 2026verified |
| Share repurchases | 395.2 m | 411.6 m | 670.3 m | 112.3 m | 423.6 m | 1.6 bn | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 225.5 bn USD
Key indicators
Coverage and freshness
Score by group
77% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 62.9% | 57 (on a fixed band) | 14% |
| EBIT margin · Quality | 43.8% | 100 (vs peers) | 11% |
| FCF margin · Quality | 42.2% | 100 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | 27.1% | 100 (on a fixed band) | 22% |
| Revenue growth (YoY) · Growth | 28.6% | 93 (vs peers) | 11% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 3.3x | 100 (on a fixed band) | 8% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 2.2% | 45 (on a fixed band) | 17% |
| Shareholder yield (distributions) · Returns | 0.3% | 38 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/2 factors with a value
- Growth98/100 · 2/2 factors with a value
- Quality84/100 · 3/3 factors with a value
- Returns38/100 · 1/1 factors with a value
- Valuation· partial45/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Arista Networks, Inc. (ANET). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 9.0 bn USD in 2025; YoY growth 28.6%; net margin 40.0%; ROE 33.5%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- EBIT margin: 43.8%
- FCF margin: 42.2%
- Revenue CAGR 3Y: 27.1%
- Revenue growth (YoY): 28.6%
- Current ratio: 3.3x
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/Sales.
Versus the vertical median
Computer Communications Equipment (SIC 3576) · same industry (4-digit SIC) · compared with 15 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| CSCOCisco Systems, Inc. | 408.5 bn | 31.1 | 27.3% | 21.0% | +11.8% | +35% / +114% |
| ANETArista Networks, Inc. | 225.5 bn | 48.0 | 33.5% | 40.0% | +28.6% | +16% / +236% |
| FFIVF5, Inc. | 18.7 bn | 26.3 | 19.8% | 22.0% | +9.7% | +38% / +93% |
| EXTRExtreme Networks, Inc. | 3.0 bn | 58.0 | 67.1% | 4.0% | +12.6% | +31% / +42% |
| DGIIDigi International Inc. | 2.8 bn | 57.5 | 7.5% | 9.6% | +1.5% | +74% / +208% |
| ATENA10 Networks, Inc. | 1.7 bn | 40.0 | 19.4% | 13.9% | +11.0% | +38% / +91% |
| NTGRNETGEAR, Inc. | 586.0 m | — | -7.0% | -4.9% | +3.8% | −16% / +64% |
| ALLTAllot Ltd. | 421.3 m | 108.3 | 4.5% | 3.6% | +10.6% | −10% / +541% |
| LTRXLantronix, Inc. | 263.9 m | — | -4.3% | -3.5% | −1.6% | +10% / 0% |
| SILCSilicom Ltd. | 181.2 m | — | -9.4% | -18.5% | +6.6% | +112% / +95% |
| BOSCBos Better Online Solutions Ltd | 29.8 m | 7.4 | 14.4% | 7.1% | +26.6% | −9% / +48% |
| FOXXFoxx Development Holdings Inc. | 13.3 m | — | — | -100.2% | −20.2% | −58% / −83% |
| INTZIntrusion Inc. | 11.9 m | — | -140.9% | -194.0% | +21.6% | −66% / −93% |
| WLDSWearable Devices Ltd. | 4.2 m | — | -72.3% | -1,253.0% | +23.9% | −92% / −100% |
| HUBCHUB Cyber Security Ltd. | 3.4 m | — | — | -134.5% | −30.7% | −100% / −100% |
| CIITTianci International, Inc. | 2.0 m | — | -55.0% | -16.7% | +53.4% | −93% / −96% |
1- and 3-year price returns: for ANET from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 117.95 Total return -34% · Per year -34% | 207.57 Total return 16% · Per year 16% | 311.36 Total return 74% · Per year 74% |
| 3 years | 139.91 Total return -22% · Per year -8% | 274.51 Total return 54% · Per year 15% | 448.36 Total return 151% · Per year 36% |
| 5 years | 165.95 Total return -7% · Per year -1% | 363.04 Total return 103% · Per year 15% | 645.63 Total return 262% · Per year 29% |
- Exit P/E± 68.63
- Net margin± 48.04
- Annual revenue growth± 35.83
- Annual dilution± 4.04
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 10-Q (04 Nov 2026), 8-K (03 Nov 2026 · results).
In brief
Arista Networks (1, 3) supplies networking solutions for AI and data centers, reporting fiscal 2025 revenue of 9005.7 million USD and a gross margin of 64.1% 1. In the second quarter of 2026 revenue reached 3.036 billion USD, up 37.7% year over year 3. The company remains dependent on a few large customers that account for a substantial share of sales 1.
SWOT
Strengths
- The company has a unified software platform with a single operating system, data lake and management tool, supporting product consistency 1.
- Gross margins have remained stable in recent years, suggesting pricing discipline and a healthy product mix 1.
- Recent quarterly results show solid growth in revenue and earnings per share 3.
Weaknesses
Opportunities
- The shift to Ethernet in AI infrastructure across scale-up, scale-out and scale-across networks could open new orders 1.
- Expansion into enterprise and a wider range of industries could reduce dependence on the largest customers 1.
- A growing installed base could support recurring revenue from support and renewal contracts 1.
Risks
- Customer concentrationhigh
Two customers account for a large share of sales, and losing or delaying their orders could significantly affect quarterly revenue 1.
- Dependence on one silicon supplierhigh
A single main supplier provides switching chips, which could lead to delays or higher costs 1.
- Tariffs and trade restrictionsmedium
United States tariffs and retaliatory measures by other countries could affect costs and market access 12.
- Revenue volatilitymedium
Quarterly revenue can fluctuate widely, and forecasts for new products are difficult to make 1.
- Security vulnerabilitiesmedium
Defects or vulnerabilities in products could lead to security incidents and loss of customer confidence 1.
Investment thesis
What would need to be true (bull case)
- If demand for AI infrastructure and the shift to Ethernet continue, the company could keep growing quickly, as recent quarterly growth suggests 3.
- High gross margins and a unified software platform could support profitability even when cost pressures rise 1.
- Diversification into enterprise customers and recurring services could stabilise long-term revenue 1.
What would break the thesis
What to watch
- Revenue and non-GAAP operating margin guidance for the third quarterQ3 2026
- Share of sales from the two largest customers2026
- GAAP gross margin and the effect of memory and component costsQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 10-Q (04 Nov 2026), 8-K (03 Nov 2026 · results).
The business
Arista Networks, Inc. describes its business as a networking-as-a-service platform built around its EOS operating system and NetDL data lake 1. Its Centers of Data strategy groups products into four domains: AI Centers, Data Centers, Campus Centers and WAN Centers 1. The company sells through a direct sales force and partners, while most products are manufactured by subcontractors 1.
Manufacturing is performed by contract partners such as Jabil, Sanmina and Foxconn Hon Hai in several countries in Asia and North America 1. The company keeps control over the bill of materials, qualified suppliers and test and quality programs 1.
Segments
Core (AI, Cloud and Data Center Networking)
This category accounted for about 65% of fiscal 2025 revenue and includes the Etherlink platforms and switches for AI Scale Out and Scale Across 1.
Market context
Trends
- AI infrastructure and the move to Ethernettailwind
The shift from InfiniBand to Ethernet for Scale Out and interest in Scale Across create share opportunities for the Etherlink solutions 1.
- Customer concentrationheadwind
Revenue depends on a few very large customers, and the timing of their orders can produce significant quarterly swings 12.
- Component cost pressureheadwind
Memory shortages and supply tensions could reduce gross margins, especially if costs cannot be passed on to customers 12.
- Growing support servicesmixed
Service revenue grows with the installed base and renewal contracts, which could stabilise long-term revenue 1.
Competitive position
The market is competitive, with pricing pressure and a risk of industry consolidation 1. Competitors include vendors offering cloud-focused combined hardware and software, and white-box systems with open-source operating systems 21.
The company differentiates through its single EOS operating system, the CloudVision management platform and round-the-clock support 1. Its main silicon supplier, Broadcom, is also a potential competitor if it sells directly to customers 1.
- Cisco SystemsCSCO
Indirect competitor in data center and campus networking equipment, referenced through the competitive pressures described in the filing 1.
- BroadcomAVGO
Principal switching silicon supplier that could become a competitor if it sells merchant silicon for white boxes directly to customers 1.
- Cloud-focused hardware and software system vendors
Large system vendors combining cloud hardware and software, described as an alternative to the company's products 2.
- White-box producers with open-source operating systems
Customers could buy generic hardware with open-source software, which could reduce market share 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Stocks making the biggest moves after hours: Arista Networks, AMD, Super Micro, Skyworks Solutions & moreCNBC — Top News · 03 Nov 2026 · EN
- Madison Mid Cap Fund: Realizing Gains in High-Speed Switch Leader Arista Networks (ANET)Yahoo Finance — News · 23 Sept 2026 · EN
- How Far Can Arista Networks Stock Move On You In A Year?Yahoo Finance — News · 10 Sept 2026 · EN
- Arista Networks vs. IBM: Comparing Quarterly Revenue Trends Between These Artificial Intelligence GiantsYahoo Finance — News · 06 Sept 2026 · EN
- Is Arista Networks Stock Outperforming the Dow?Yahoo Finance — News · 03 Sept 2026 · EN
- Cisco Systems (CSCO) & Arista Networks (ANET): Cisco Just Beat Every Estimate. Why Did the Stock Still Drop 8%?Yahoo Finance — News · 24 Aug 2026 · EN
The latest news item in our archive is from 03 Nov 2026; the newest SEC filing is from 04 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report04 Nov 2026
- Current report03 Nov 2026Results of operations · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report04 Aug 2026Results of operations · Financial statements and exhibits
- Current report02 Jun 2026Shareholder vote
- Quarterly report06 May 2026
- Current report05 May 2026Results of operations · Financial statements and exhibits
- Proxy statement16 Apr 2026
- Annual report17 Feb 2026
- Current report12 Feb 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Arista Networks, Inc. · 17 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Arista Networks, Inc. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Arista Networks, Inc. · 04 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.