Arista Networks Inc

ANET

96.42 (-2.15%) 2.08

121.10(B)

Information Technology

Communications Equipment

Arista Networks Inc engages in the development marketing and sale of data-driven client to cloud networking solutions for AI data center campus and routing environments in the Americas Europe the Middle East Africa and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS) a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications. The company offers data center cloud and AI networking cognitive adjacencies and cognitive network software and services. It also provides post contract customer support services such as technical support hardware repair and replacement parts beyond standard warranty bug fixes patches and upgrade services. The company serves a range of industries comprising internet companies cloud service providers financial services organizations government agencies media and entertainment healthcare oil and gas education manufacturing industrial and others. It markets and sells its products through distributors system integrators value-added resellers and original equipment manufacturer partners as well as through its direct sales force. The company was formerly known as Arastra Inc. and changed its name to Arista Networks Inc in October 2008. Arista Networks Inc was incorporated in 2004 and is headquartered in Santa Clara California.

My Holdings:

(?% ownership)

Cost basis:

Market cap:$121.10(B)

EV:$112.95(B)

Total Equity:$10.12(B)

Div. yield:0.00%

P/S:16.31

P/E:40.01

P/FCF:32.03

P/B:11.98

EPS:$2.4

FCF/share:$3.0

Dividend/share:$0.0

Book value/share:$8.1

ROIC:33.7%

ROA:24.3%

ROE:33.8%

Jump to:Valuation TTM Financials Growth Estimates Historical Data Similar Companies Ownership Tools

ANET Valuation

Current Price

96.42

PE Valuation

N/A

Analyst targets

N/A

DCF

N/A

DCF (exit mult.)

N/A

Future P/E

N/A

Peter Lynch FV

N/A

Graham No.

N/A

DDM

N/A

Using the PEvaluation method, the intrinsic value estimate of ANET is $44.6.
At the current price of 96.4, ANET is 54% overvalued.

Based on 0 valuation methods, the average fair value estimate for ANET is $N/A (NaN% overvalued).

Valuations range from $1.7976931348623157e+308 (N/A) to $0.0 (N/A).

PEvaluation

54% overvalued

Low

$33.4

Mid

$44.6

High

$55.7

Current price

$96.4

Fair P/E

Margin of safety

Economic moat: None/narrow

Analyst Price Targets

11% undervalued

Low

$79

Mid

$107

High

$130

Current price

$96

Strong Buy7

Buy14

Hold5

Sell0

Strong Sell1

Estimated EPS

	Low	Avg	High	#
FY+1	2.5	2.5	2.7	24
FY+2	2.8	3.0	3.3	24
FY+3	3.2	3.6	4.2	12
FY+4	4.2	4.2	4.2	1
FY+5	4.7	4.7	4.7	1

Discounted Cash Flow

Forecast years
Terminal Growth Rate
Discount Rate

Free cash flow estimates:

Y+1 est.

Y+2 est.

0.00%

Y+3 est.

0.00%

Y+4 est.

0.00%

Y+5 est.

0.00%

Discounted Cash Flow (exit mult.)

Forecast years
Exit FCF Multiple
Discount Rate

Free cash flow estimates:

Y+1 est.

Y+2 est.

0.00%

Y+3 est.

0.00%

Y+4 est.

0.00%

Y+5 est.

0.00%

Future P/E Valuation

Projection Years
Base Revenue
Revenue Growth Rate
Final Net Margin
Final P/E Ratio
Discount Rate

Peter Lynch Fair Value

Earnings Per Share
Growth Rate (*)

(*) Growth rate is capped between 5 and 25

Graham Formula

Earnings Per Share
Expected Growth Rate
Government Bond Rate

Dividend Discount Model

Annual Dividend
First Stage Length (Years)
First Stage Growth Rate
Final Growth Rate
Discount Rate

(*) First stage rowth rate is capped to 20%

TTM Financials

Income (TTM)

Revenue$7.44(B)

Gross profit$4.77(B)

EBITDA$3.19(B)

Net income$3.03(B)

Gross margin64.1%

Operating margin42.1%

Net margin40.7%

Shares outstanding:1.26(B)

Balance sheet

Total assets$14.51(B)

Current assets$12.28(B)

Total liabilities$4.40(B)

Current liabilities$3.12(B)

Cash & Short-term inv.$8.15(B)

Long-term debt$0

Total intangibles$324.90(M)

PP&E$123.90(M)

Cash flow (TTM)

FCF$3.79(B)

CapEx$-51.03(M)

Dividends paid$0

Stock issued$63.18(M)

Stock repurchased$-1.22(B)

Stock-based comp.$371.16(M)

Debt issued$0

Debt repaid$0

Per share data

Growth Estimates

Revenue

CAGR: 16.5%

FY+1$8.38(B)

FY+2(+18.2%)$9.90(B)

FY+3(+18.6%)$11.74(B)

FY+4(+16.6%)$13.70(B)

FY+5(+12.7%)$15.44(B)

Net Income

CAGR: 15.3%

FY+1$3.27(B)

FY+2(+17.1%)$3.83(B)

FY+3(+20.7%)$4.62(B)

FY+4(+11.7%)$5.16(B)

FY+5(+11.9%)$5.77(B)

EPS

CAGR: 16.7%

FY+1$2.55

FY+2(+16.9%)$2.98

FY+3(+20.8%)$3.60

FY+4(+15.8%)$4.17

FY+5(+13.4%)$4.73

FCF per share

CAGR: 28.0%

FY+1$2.58

FY+2(+26.0%)$3.25

FY+3(+30.2%)$4.23

Historical Financials

Showing limited histrical data. Access 10+ years of financials now! Upgrade

YearlyQuarterly

Income

	FY2011	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	TTM	5Y avg	5Y CAGR
Revenue									2.41(B)	2.32(B)	2.95(B)	4.38(B)	5.86(B)	6.61(B)	3.58(B)	25%
COGS									866.37(M)	835.63(M)	1.07(B)	1.71(B)	2.23(B)	2.35(B)	1.34(B)	27%
Gross Profit									1.54(B)	1.48(B)	1.88(B)	2.68(B)	3.63(B)	4.26(B)	2.24(B)	24%
Total OpEx.									738.56(M)	782.20(M)	956.04(M)	1.15(B)	1.37(B)	1.47(B)	999.69(M)	17%
R&D									462.76(M)	486.59(M)	586.75(M)	728.39(M)	854.92(M)	923.18(M)	623.88(M)	17%
SG&A									275.81(M)	295.61(M)	369.29(M)	420.20(M)	518.11(M)	551.48(M)	375.80(M)	17%
Operating Income									805.77(M)	699.68(M)	924.74(M)	1.53(B)	2.26(B)	2.78(B)	1.24(B)	29%
Interest Expense									0.00	0.00	0.00	0.00	0.00	0.00	0.00	N/A%
Interest Income									51.14(M)	27.14(M)	7.21(M)	27.56(M)	152.42(M)	274.68(M)	53.09(M)	31%
Pre-tax income									862.27(M)	738.86(M)	930.88(M)	1.58(B)	2.42(B)	3.07(B)	1.31(B)	29%
Income tax									-2.40(M)	-104.31(M)	-90.03(M)	-229.35(M)	-334.70(M)	-405.80(M)	-152.16(M)	244%
Net Income									859.87(M)	634.56(M)	840.85(M)	1.35(B)	2.09(B)	2.66(B)	1.16(B)	25%

Cash flow

Stock-based Comp.FCFCFONet IncomeD&ACFFStock IssuedStock RepurchasedDebt IssuedDebt RepaidDividend PaidCFIAcquisitionsDivestituresCapital Expenditures

Balance sheet

Total AssetsTotal LiabilitiesCurrent assetsCash and EquivalentsShort-term investmentsInventoriesReceivablesNon-current assetsNet PP&EIntangible AssetsGoodwillCurrent liabilitiesAccounts payableNon-current liabilitiesLong-Term DebtTotal Equity

Per share data

EPS (Basic)FCF/ShareDividend/ShareEPS (Diluted)Book value/ShareCash & ST inv./ShareDebt/Share

Ratios

P/EP/SEV/EarningsP/FCFP/BEV/FCFDebt/EquityPayout ratio

Margins

Net Income MarginOperating MarginGross MarginEBITDA MarginFCF Margin

Returns

ROICROAROCEROE

Shares outstanding

Shares (Basic)Shares (Diluted)

Market Cap.

Similar Companies

Ownership

Major holders

Insiders: 18.02%
Institutions: 69.25%
Other: 12.73%

Institutional ownership

Insider transactions

Show:

Buys

Sells

Grants

	Date	Shares	Total ($)	Price ($)	Name	Title
Sell	2025-04-22	1,492	102,180	68.5	BATTLES KELLY BODNAR	Director
Grant	2025-04-07	80,000	5,453,600	68.2	DUDA KENNETH	Chief Technology Officer
Sell	2025-04-07	159,970	10,683,848	66.8	DUDA KENNETH	Chief Technology Officer
Sell	2025-04-07	30	2,112	70.4	DUDA KENNETH	Chief Technology Officer
Sell	2025-04-01	8,000	620,386	77.5	GIANCARLO CHARLES H	Director
Grant	2025-03-06	80,000	322,304	4.0	DUDA KENNETH	Chief Technology Officer
Sell	2025-03-06	160,000	13,576,071	84.9	DUDA KENNETH	Chief Technology Officer
Sell	2025-03-03	8,000	712,235	89.0	GIANCARLO CHARLES H	Director
Sell	2025-03-03	51,848	4,593,257	88.6	TAXAY MARC	General Counsel
Sell	2025-02-26	17,433	1,683,584	96.6	MCCOOL JOHN F.	Officer
Sell	2025-02-24	138,351	12,988,491	93.9	ULLAL JAYSHREE	Chief Executive Officer
Sell	2025-02-24	17,433	1,623,655	93.1	MCCOOL JOHN F.	Officer
Sell	2025-02-21	168	17,233	102.6	WASSENAAR YVONNE	Director
Sell	2025-02-19	112	11,436	102.1	MCCOOL JOHN F.	Officer
Sell	2025-02-14	1,488	159,409	107.1	BATTLES KELLY BODNAR	Director
Grant	2025-02-06	80,000	322,304	4.0	DUDA KENNETH	Chief Technology Officer
Sell	2025-02-06	160,000	18,497,049	115.6	DUDA KENNETH	Chief Technology Officer
Sell	2025-02-03	8,000	896,158	112.0	GIANCARLO CHARLES H	Director
Sell	2025-01-21	168	20,331	121.0	WASSENAAR YVONNE	Director
Grant	2025-01-06	80,000	322,304	4.0	DUDA KENNETH	Chief Technology Officer
Sell	2025-01-06	160,000	18,955,756	118.5	DUDA KENNETH	Chief Technology Officer
Sell	2025-01-02	8,000	892,090	111.5	GIANCARLO CHARLES H	Director
Grant	2024-12-11	936,000	0	0.0	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-12-09	288	31,306	108.7	MCCOOL JOHN F.	Officer
Grant	2024-12-06	80,000	322,304	4.0	DUDA KENNETH	Chief Technology Officer
Sell	2024-12-06	160,000	17,326,175	108.3	DUDA KENNETH	Chief Technology Officer
Sell	2024-12-02	2,000	3,280,801	1640.4	GIANCARLO CHARLES H	Director
Sell	2024-12-02	2,660	4,363,465	1640.4	TAXAY MARC	General Counsel
Sell	2024-11-21	17,759	28,767,449	1619.9	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-11-21	1,585	2,567,510	1619.9	MCCOOL JOHN F.	Officer
Grant	2024-11-06	20,000	341,700	17.1	DUDA KENNETH	Chief Technology Officer
Grant	2024-11-06	20,000	33,849,608	1692.5	DUDA KENNETH	Officer and Director
Sell	2024-11-06	40,000	67,699,216	1692.5	DUDA KENNETH	Chief Technology Officer
Grant	2024-11-04	832	47,079	56.6	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-11-04	832	1,314,160	1579.5	ULLAL JAYSHREE	Chief Executive Officer
Grant	2024-11-01	624	36,250	58.1	TAXAY MARC	General Counsel
Grant	2024-11-01	584	33,805	57.9	MCCOOL JOHN F.	Officer
Sell	2024-11-01	584	920,781	1576.7	MCCOOL JOHN F.	Officer
Sell	2024-11-01	2,000	3,153,359	1576.7	GIANCARLO CHARLES H	Director
Sell	2024-11-01	624	983,848	1576.7	TAXAY MARC	General Counsel
Sell	2024-10-22	373	591,668	1586.2	BATTLES KELLY BODNAR	Director
Grant	2024-10-07	20,000	341,700	17.1	DUDA KENNETH	Chief Technology Officer
Grant	2024-10-07	20,000	31,403,200	1570.2	DUDA KENNETH	Chief Technology Officer
Sell	2024-10-07	40,000	62,806,400	1570.2	DUDA KENNETH	Chief Technology Officer
Grant	2024-10-02	836	47,305	56.6	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-10-02	836	1,302,890	1558.5	ULLAL JAYSHREE	Chief Executive Officer
Grant	2024-10-01	624	36,250	58.1	TAXAY MARC	General Counsel
Grant	2024-10-01	580	33,561	57.9	MCCOOL JOHN F.	Officer
Sell	2024-10-01	580	885,892	1527.4	MCCOOL JOHN F.	Officer
Sell	2024-10-01	2,000	3,054,801	1527.4	GIANCARLO CHARLES H	Director
Sell	2024-10-01	624	953,098	1527.4	TAXAY MARC	General Counsel
Sell	2024-09-17	2,000	2,887,600	1443.8	GIANCARLO CHARLES H	Director
Sell	2024-09-16	372	534,430	1436.6	BATTLES KELLY BODNAR	Director
Grant	2024-09-06	20,000	341,700	17.1	DUDA KENNETH	Chief Technology Officer
Grant	2024-09-06	20,000	25,144,808	1257.2	DUDA KENNETH	Chief Technology Officer
Sell	2024-09-06	38,311	48,166,137	1257.2	DUDA KENNETH	Chief Technology Officer
Sell	2024-09-06	1,689	2,123,479	1257.2	DUDA KENNETH	Chief Technology Officer
Grant	2024-09-03	624	36,250	58.1	TAXAY MARC	General Counsel
Grant	2024-09-03	584	33,805	57.9	MCCOOL JOHN F.	Officer
Grant	2024-09-03	832	47,079	56.6	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-09-03	832	1,087,324	1306.9	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-09-03	584	763,218	1306.9	MCCOOL JOHN F.	Officer
Sell	2024-09-03	4,497	5,877,039	1306.9	TAXAY MARC	General Counsel
Grant	2024-08-26	20,000	341,700	17.1	DUDA KENNETH	Chief Technology Officer
Grant	2024-08-26	20,000	27,575,192	1378.8	DUDA KENNETH	Chief Technology Officer
Sell	2024-08-26	38,408	52,955,399	1378.8	DUDA KENNETH	Chief Technology Officer
Sell	2024-08-26	1,592	2,194,985	1378.8	DUDA KENNETH	Chief Technology Officer
Sell	2024-08-21	17,752	25,271,030	1423.6	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-08-21	2,575	3,665,666	1423.6	MCCOOL JOHN F.	Officer
Sell	2024-08-06	216	279,539	1294.2	BATTLES KELLY BODNAR	Director
Grant	2024-08-02	832	47,079	56.6	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-08-02	832	1,062,764	1277.4	ULLAL JAYSHREE	Chief Executive Officer
Grant	2024-08-01	628	36,476	58.1	TAXAY MARC	General Counsel
Grant	2024-08-01	588	34,032	57.9	MCCOOL JOHN F.	Officer
Sell	2024-08-01	588	796,481	1354.6	MCCOOL JOHN F.	Officer
Sell	2024-08-01	2,000	2,709,119	1354.6	GIANCARLO CHARLES H	Director
Sell	2024-08-01	628	850,663	1354.6	TAXAY MARC	General Counsel
Grant	2024-07-08	20,000	341,700	17.1	DUDA KENNETH	Chief Technology Officer
Sell	2024-07-08	40,000	59,371,216	1484.3	DUDA KENNETH	Chief Technology Officer
Grant	2024-07-02	836	47,305	56.6	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-07-02	836	1,193,841	1428.0	ULLAL JAYSHREE	Chief Executive Officer
Grant	2024-07-01	624	36,250	58.1	TAXAY MARC	General Counsel
Grant	2024-07-01	580	33,561	57.9	MCCOOL JOHN F.	Officer
Sell	2024-07-01	25,000	35,670,000	1426.8	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-07-01	2,000	2,853,600	1426.8	GIANCARLO CHARLES H	Director
Sell	2024-07-01	580	827,544	1426.8	MCCOOL JOHN F.	Officer
Sell	2024-07-01	624	890,323	1426.8	TAXAY MARC	General Counsel
Sell	2024-06-27	25,000	34,792,990	1391.7	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-06-17	25,000	34,008,010	1360.3	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-06-14	1,000	1,314,000	1314.0	SCHEINMAN DANIEL	Director
Grant	2024-06-13	20,000	341,700	17.1	DUDA KENNETH	Chief Technology Officer
Sell	2024-06-13	40,000	53,067,184	1326.7	DUDA KENNETH	Chief Technology Officer
Grant	2024-06-04	832	47,079	56.6	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-06-04	832	975,703	1172.7	ULLAL JAYSHREE	Chief Executive Officer
Grant	2024-06-03	624	36,250	58.1	TAXAY MARC	General Counsel
Grant	2024-06-03	584	33,805	57.9	MCCOOL JOHN F.	Officer
Sell	2024-06-03	584	692,367	1185.6	MCCOOL JOHN F.	Officer
Sell	2024-06-03	2,000	2,371,119	1185.6	GIANCARLO CHARLES H	Director
Sell	2024-06-03	4,493	5,326,719	1185.6	TAXAY MARC	General Counsel
Sell	2024-05-22	17,759	22,482,894	1266.0	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-05-22	1,291	1,634,406	1266.0	MCCOOL JOHN F.	Officer
Sell	2024-05-21	1,291	1,636,936	1268.0	MCCOOL JOHN F.	Officer
Sell	2024-05-21	223	282,755	1268.0	WASSENAAR YVONNE	Director
Grant	2024-05-16	1,300	0	0.0	DUDA KENNETH	Chief Technology Officer
Sell	2024-05-16	14,416	18,457,676	1280.4	DUDA KENNETH	Chief Technology Officer
Sell	2024-05-16	25,000	32,009,010	1280.4	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-05-15	25,000	32,603,000	1304.1	ULLAL JAYSHREE	Chief Executive Officer
Sell	2024-05-13	20,000	24,789,608	1239.5	ULLAL JAYSHREE	Chief Executive Officer

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