Cash flow Arista Networks Inc

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US0404132054

Communications & Networking

Real-time Estimate Cboe BZX Other stock markets 12:10:49 2025-06-23 pm EDT			5-day change	1st Jan Change
90.88 ^USD	+5.37%		-3.93%	-17.35%

07:10am	Evercore ISI Adjusts Price Target on Arista Networks to $110 From $105, Maintains Outperform Rating	MT
Jun. 16	Arista Networks Inc - Appoints Todd Nightingale As President And COO	RE

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Published financial data: ARISTA NETWORKS INC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	2.32B	2.95B	4.38B	5.86B	7B
Total Revenues	2.32B	2.95B	4.38B	5.86B	7B
Cost of Goods Sold, Total	836M	1.07B	1.71B	2.23B	2.51B
Gross Profit	1.48B	1.88B	2.68B	3.63B	4.49B
Selling General & Admin Expenses, Total	289M	369M	420M	518M	550M
R&D Expenses	487M	587M	728M	855M	997M
Other Operating Expenses, Total	776M	956M	1.15B	1.37B	1.55B
Operating Income	706M	925M	1.53B	2.26B	2.94B
Interest Expense, Total	-	-	-	-	-
Interest And Investment Income	27.14M	7.22M	27.56M	152M	311M
Net Interest Expenses	27.14M	7.22M	27.56M	152M	311M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	-1.56M	-1.08M	-345K	-6.34M	9.42M
EBT, Excl. Unusual Items	732M	931M	1.55B	2.4B	3.27B
Merger & Related Restructuring Charges	-6.6M	-	-	-	-
Gain (Loss) On Sale Of Investments	13.6M	-	27.48M	18.7M	-
Legal Settlements	-	-	-	-	-
EBT, Incl. Unusual Items	739M	931M	1.58B	2.42B	3.27B
Income Tax Expense	104M	90.02M	229M	335M	413M
Earnings From Continuing Operations	635M	841M	1.35B	2.09B	2.85B
Net Income to Company	635M	841M	1.35B	2.09B	2.85B
Net Income - (IS)	635M	841M	1.35B	2.09B	2.85B
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	635M	841M	1.35B	2.09B	2.85B
Net Income to Common Excl. Extra Items	635M	841M	1.35B	2.09B	2.85B
Per Share Items
Net EPS - Basic	0.52	0.69	1.1	1.69	2.27
Basic EPS - Continuing Operations	0.52	0.69	1.1	1.69	2.27
Basic Weighted Average Shares Outstanding	1.22B	1.23B	1.23B	1.24B	1.26B
Net EPS - Diluted	0.5	0.66	1.07	1.64	2.23
Diluted EPS - Continuing Operations	0.5	0.66	1.07	1.64	2.23
Diluted Weighted Average Shares Outstanding	1.27B	1.28B	1.27B	1.27B	1.28B
Normalized Basic EPS	0.38	0.47	0.79	1.21	1.62
Normalized Diluted EPS	0.36	0.46	0.77	1.18	1.59
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	751M	975M	1.59B	2.33B	2.99B
EBITA	730M	954M	1.56B	2.29B	2.95B
EBIT	706M	925M	1.53B	2.26B	2.94B
EBITDAR	782M	1.01B	1.62B	2.36B	-
Total Revenues (As Reported)	2.32B	2.95B	4.38B	5.86B	7B
Effective Tax Rate - (Ratio)	14.12	9.67	14.5	13.82	12.65
Current Domestic Taxes	99.98M	176M	435M	681M	866M
Current Foreign Taxes	12.89M	13.39M	38.25M	24.19M	39.77M
Total Current Taxes	113M	189M	474M	706M	906M
Deferred Domestic Taxes	-18.44M	-115M	-254M	-413M	-548M
Deferred Foreign Taxes	9.88M	15.78M	9.88M	42.63M	54.71M
Total Deferred Taxes	-8.56M	-99.05M	-244M	-371M	-493M
Normalized Net Income	457M	582M	971M	1.5B	2.04B
Supplemental Operating Expense Items
Selling and Marketing Expenses	229M	286M	327M	399M	427M
General and Administrative Expenses	59.64M	83.12M	93.24M	119M	123M
Research And Development Expense From Footnotes	487M	587M	754M	878M	1.01B
Net Rental Expense, Total	30.85M	31.01M	32.82M	33.26M	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., COGS (Total)	6.27M	7.44M	9.69M	12.79M	15.79M
Stock-Based Comp., R&D Exp. (Total)	79.91M	99.77M	131M	172M	212M
Stock-Based Comp., S&M Exp. (Total)	34.94M	46.52M	57.57M	71.07M	78.76M
Stock-Based Comp., G&A Exp. (Total)	15.91M	33.14M	32.78M	40.72M	49.01M
Total Stock-Based Compensation	137M	187M	231M	297M	355M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	893M	621M	672M	1.94B	2.76B
Short Term Investments	1.98B	2.79B	2.35B	3.07B	5.54B
Total Cash And Short Term Investments	2.87B	3.41B	3.02B	5.01B	8.3B
Accounts Receivable, Total	390M	517M	923M	1.02B	1.14B
Total Receivables	390M	517M	923M	1.02B	1.14B
Inventory	498M	696M	1.45B	2.08B	1.83B
Prepaid Expenses	15.32M	18.53M	27.81M	282M	632M
Other Current Assets, Total	60.82M	173M	124M	-	-
Total Current Assets	3.84B	4.81B	5.55B	8.39B	11.91B
Gross Property Plant And Equipment	225M	277M	305M	346M	370M
Accumulated Depreciation	-115M	-133M	-157M	-188M	-219M
Net Property Plant And Equipment	110M	144M	148M	157M	151M
Long-term Investments	8.31M	20.25M	39.47M	62.29M	81.32M
Goodwill	190M	188M	266M	269M	269M
Other Intangibles, Total	123M	93.56M	122M	88.77M	62.01M
Deferred Tax Assets Long-Term	442M	442M	575M	946M	1.44B
Other Long-Term Assets, Total	30.07M	33.44M	73.75M	33.72M	130M
Total Assets	4.74B	5.73B	6.78B	9.95B	14.04B
Liabilities
Accounts Payable, Total	134M	203M	233M	435M	381M
Accrued Expenses, Total	132M	216M	277M	407M	435M
Current Portion of Leases	17.77M	20.3M	19.88M	21.11M	22.14M
Current Income Taxes Payable	1.87M	-	-	-	-
Unearned Revenue Current, Total	431M	632M	683M	974M	1.79B
Other Current Liabilities	51.43M	38.39M	81.47M	71.74M	101M
Total Current Liabilities	768M	1.11B	1.29B	1.91B	2.73B
Long-Term Leases	72.4M	56.53M	43.96M	44.41M	37.5M
Unearned Revenue Non Current	255M	390M	462M	665M	1.16B
Deferred Tax Liability Non Current	228M	129M	42K	-	-
Other Non Current Liabilities	95.48M	69.98M	89.99M	109M	120M
Total Liabilities	1.42B	1.76B	1.89B	2.73B	4.05B
Common Stock, Total	8K	31K	31K	31K	126K
Additional Paid In Capital	1.29B	1.53B	1.78B	2.11B	2.47B
Retained Earnings	2.03B	2.46B	3.14B	5.11B	7.54B
Comprehensive Income and Other	238K	-8.3M	-33.91M	-3.33M	-13.19M
Total Common Equity	3.32B	3.98B	4.89B	7.22B	9.99B
Total Equity	3.32B	3.98B	4.89B	7.22B	9.99B
Total Liabilities And Equity	4.74B	5.73B	6.78B	9.95B	14.04B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.22B	1.23B	1.23B	1.25B	1.26B
ECS Total Common Shares Outstanding	1.22B	1.23B	1.23B	1.25B	1.26B
Book Value / Share	2.72	3.23	3.98	5.78	7.92
Tangible Book Value	3.01B	3.7B	4.5B	6.86B	9.66B
Tangible Book Value Per Share	2.47	3	3.66	5.49	7.66
Total Debt	90.17M	76.82M	63.84M	65.52M	59.64M
Net Debt	-2.78B	-3.33B	-2.96B	-4.94B	-8.24B
Debt Equivalent Oper. Leases	247M	248M	263M	266M	-
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	219M	317M	760M	931M	565M
Inventories - Finished Goods, Total	260M	333M	530M	1.01B	1.27B
Land - (BS)	-	40.14M	41.5M	44.64M	47.19M
Buildings, Total	-	-	-	-	-
Machinery, Total	115M	139M	178M	206M	228M
Full Time Employees	2.61K	2.99K	3.61K	4.02K	4.41K
Accumulated Allowance for Doubtful Accounts (Supple)	659K	132K	19K	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	635M	841M	1.35B	2.09B	2.85B
Depreciation & Amortization - CF	20.49M	21.13M	29M	37.23M	35.28M
Amortization of Goodwill and Intangible Assets - (CF)	24.1M	29.2M	33.7M	33.4M	9.98M
Depreciation & Amortization, Total	44.59M	50.33M	62.7M	70.63M	45.26M
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	16.78M
(Gain) Loss on Sale of Investments - (CF)	-3.22M	26.85M	-14.71M	-52.22M	-60.47M
Stock-Based Compensation (CF)	137M	187M	231M	297M	355M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	7.83M	-82.18M	-226M	-353M	-486M
Change In Accounts Receivable	10.67M	-127M	-402M	-101M	-106M
Change In Inventories	-235M	-170M	-639M	-655M	111M
Change In Accounts Payable	41.16M	66.68M	31.44M	199M	-51.64M
Change in Unearned Revenues	50.35M	278M	98.96M	465M	1.29B
Change In Income Taxes	8.8M	6.22M	44.03M	20.17M	-66.5M
Change in Other Net Operating Assets	38.64M	-60.85M	-46.76M	57.29M	-186M
Cash from Operations	735M	1.02B	493M	2.03B	3.71B
Capital Expenditure	-15.38M	-64.74M	-44.64M	-34.43M	-32.03M
Cash Acquisitions	-227M	-	-145M	1.8M	-
Investment in Marketable and Equity Securities, Total	-366M	-862M	406M	-655M	-2.42B
Other Investing Activities, Total	-	1.3M	-	-	-6.63M
Cash from Investing	-609M	-926M	216M	-687M	-2.46B
Long-Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-	-	-	-	-
Issuance of Common Stock	57.56M	67.24M	48.41M	62.09M	60.18M
Repurchase of Common Stock	-404M	-428M	-703M	-146M	-482M
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-346M	-361M	-655M	-83.75M	-422M
Foreign Exchange Rate Adjustments	1.97M	-1.82M	-3.61M	675K	-4.77M
Net Change in Cash	-218M	-272M	50.93M	1.26B	824M
Supplemental Items
Cash Interest Paid	-	-	-	-	-
Cash Income Tax Paid (Refund)	82.6M	190M	428M	686M	971M
Levered Free Cash Flow	560M	649M	265M	1.5B	2.82B
Unlevered Free Cash Flow	560M	649M	265M	1.5B	2.82B
Change In Net Working Capital	47.41M	101M	939M	240M	-597M
Net Debt Issued / Repaid	-	-	-	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	9.89	11.04	15.26	16.87	15.34
Return on Total Capital	13.79	15.48	21.2	23.06	21.23
Return On Equity %	20.42	23.04	30.51	34.49	33.14
Return on Common Equity	20.42	23.04	30.51	34.49	33.14
Margin Analysis
Gross Profit Margin %	63.94	63.8	61.07	61.95	64.13
SG&A Margin	12.47	12.53	9.59	8.84	7.85
EBITDA Margin %	32.4	33.08	36.29	39.72	42.69
EBITA Margin %	31.52	32.36	35.62	39.09	42.19
EBIT Margin %	30.48	31.37	34.86	38.52	42.05
Income From Continuing Operations Margin %	27.38	28.52	30.87	35.62	40.73
Net Income Margin %	27.38	28.52	30.87	35.62	40.73
Net Avail. For Common Margin %	27.38	28.52	30.87	35.62	40.73
Normalized Net Income Margin	19.74	19.74	22.17	25.63	29.14
Levered Free Cash Flow Margin	24.18	22.02	6.05	25.65	40.3
Unlevered Free Cash Flow Margin	24.18	22.02	6.05	25.65	40.3
Asset Turnover
Asset Turnover	0.52	0.56	0.7	0.7	0.58
Fixed Assets Turnover	19.59	23.27	29.99	38.32	45.43
Receivables Turnover (Average Receivables)	5.93	6.51	6.09	6.02	6.44
Inventory Turnover (Average Inventory)	2.21	1.79	1.59	1.26	1.33
Short Term Liquidity
Current Ratio	4.99	4.34	4.29	4.39	4.36
Quick Ratio	4.25	3.54	3.05	3.16	3.46
Operating Cash Flow to Current Liabilities	0.96	0.92	0.38	1.07	1.36
Days Sales Outstanding (Average Receivables)	61.71	56.09	59.97	60.65	56.83
Days Outstanding Inventory (Average Inventory)	165.56	204.32	229.85	288.7	275.37
Average Days Payable Outstanding	38.48	48.59	32.27	42.69	62.2
Cash Conversion Cycle (Average Days)	188.8	211.82	257.55	306.66	270.01
Long Term Solvency
Total Debt/Equity	2.72	1.93	1.31	0.91	0.6
Total Debt / Total Capital	2.64	1.89	1.29	0.9	0.59
LT Debt/Equity	2.18	1.42	0.9	0.62	0.38
Long-Term Debt / Total Capital	2.12	1.39	0.89	0.61	0.37
Total Liabilities / Total Assets	29.94	30.62	27.89	27.42	28.83
EBIT / Interest Expense	-	-	-	-	-
EBITDA / Interest Expense	-	-	-	-	-
(EBITDA - Capex) / Interest Expense	-	-	-	-	-
Total Debt / EBITDA	0.12	0.08	0.04	0.03	0.02
Net Debt / EBITDA	-3.56	-3.31	-1.82	-2.09	-2.73
Total Debt / (EBITDA - Capex)	0.12	0.08	0.04	0.03	0.02
Net Debt / (EBITDA - Capex)	-3.63	-3.54	-1.88	-2.12	-2.76
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-3.87	27.21	48.62	33.75	19.5
Gross Profit, 1 Yr. Growth %	-4.04	26.92	42.27	35.68	23.72
EBITDA, 1 Yr. Growth %	-10.46	29.86	63.04	46.43	28.44
EBITA, 1 Yr. Growth %	-10.84	30.61	63.62	46.76	28.99
EBIT, 1 Yr. Growth %	-12.35	30.93	65.14	47.81	30.45
Earnings From Cont. Operations, 1 Yr. Growth %	-26.2	32.51	60.84	54.34	36.64
Net Income, 1 Yr. Growth %	-26.2	32.51	60.84	54.34	36.64
Normalized Net Income, 1 Yr. Growth %	-14.59	27.19	66.97	54.62	34.81
Diluted EPS Before Extra, 1 Yr. Growth %	-24.81	31.5	62.36	54.1	35.15
Accounts Receivable, 1 Yr. Growth %	-0.62	32.59	78.72	10.99	10.26
Inventory, 1 Yr. Growth %	93.54	39.72	108.46	42.98	-5.69
Net Property, Plant and Equip., 1 Yr. Growth %	-13.79	31.32	3.19	6.11	-4.24
Total Assets, 1 Yr. Growth %	13.23	21.01	18.15	46.81	41.05
Tangible Book Value, 1 Yr. Growth %	7.63	22.9	21.67	52.56	40.84
Common Equity, 1 Yr. Growth %	14.7	19.83	22.8	47.76	38.45
Cash From Operations, 1 Yr. Growth %	-23.67	38.19	-51.49	312.74	82.31
Capital Expenditures, 1 Yr. Growth %	-2.33	320.8	-31.04	-22.87	-6.98
Levered Free Cash Flow, 1 Yr. Growth %	-8.18	15.89	-59.2	467.52	87.73
Unlevered Free Cash Flow, 1 Yr. Growth %	-8.18	15.89	-59.2	467.52	87.73
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	3.79	10.58	37.5	40.99	26.43
Gross Profit, 2 Yr. CAGR %	3.88	10.36	34.37	38.93	29.56
EBITDA, 2 Yr. CAGR %	3.13	7.83	46.67	54.51	37.14
EBITA, 2 Yr. CAGR %	3.38	7.91	46.42	54.96	37.59
EBIT, 2 Yr. CAGR %	2.04	7.13	47.29	56.24	38.86
Earnings From Cont. Operations, 2 Yr. CAGR %	39.07	-1.11	45.99	57.56	45.22
Net Income, 2 Yr. CAGR %	39.07	-1.11	45.99	57.56	45.22
Normalized Net Income, 2 Yr. CAGR %	1.7	4.23	45.97	60.68	43.67
Diluted EPS Before Extra, 2 Yr. CAGR %	40.35	-0.5	46.12	58.17	44.36
Accounts Receivable, 2 Yr. CAGR %	8.36	14.79	53.94	40.84	11.15
Inventory, 2 Yr. CAGR %	33.62	64.44	70.66	72.64	12.41
Net Property, Plant and Equip., 2 Yr. CAGR %	20.56	6.4	16.4	4.64	0.81
Total Assets, 2 Yr. CAGR %	24	17.05	19.57	31.7	43.97
Tangible Book Value, 2 Yr. CAGR %	21.69	15.01	22.28	36.24	46.58
Common Equity, 2 Yr. CAGR %	24.46	17.24	21.31	34.7	43.03
Cash From Operations, 2 Yr. CAGR %	20.88	2.71	-18.12	41.5	174.31
Capital Expenditures, 2 Yr. CAGR %	-19.65	102.73	70.35	-27.07	-15.29
Levered Free Cash Flow, 2 Yr. CAGR %	-0.49	3.15	-30.56	52.17	226.41
Unlevered Free Cash Flow, 2 Yr. CAGR %	-0.63	3.15	-30.56	52.17	226.41
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	12.08	11.07	22.04	36.24	33.43
Gross Profit, 3 Yr. CAGR %	11.75	11.05	20.11	34.81	33.66
EBITDA, 3 Yr. CAGR %	15.22	11.36	23.76	46.59	45.28
EBITA, 3 Yr. CAGR %	15.81	11.76	23.97	46.54	45.77
EBIT, 3 Yr. CAGR %	14.52	10.88	23.75	47.47	47.12
Earnings From Cont. Operations, 3 Yr. CAGR %	14.46	36.85	16.3	48.72	50.25
Net Income, 3 Yr. CAGR %	14.46	36.85	16.3	48.72	50.25
Normalized Net Income, 3 Yr. CAGR %	15.52	9.57	21.96	48.8	51.94
Diluted EPS Before Extra, 3 Yr. CAGR %	14.31	37.39	17.14	48.73	50.25
Accounts Receivable, 3 Yr. CAGR %	16.35	15.9	33.04	38.04	30.22
Inventory, 3 Yr. CAGR %	13.56	35.62	77.97	60.88	38.11
Net Property, Plant and Equip., 3 Yr. CAGR %	13.82	24.04	5.32	12.87	1.59
Total Assets, 3 Yr. CAGR %	24.41	22.99	17.42	28.04	34.79
Tangible Book Value, 3 Yr. CAGR %	21.87	22.09	17.19	31.64	37.76
Common Equity, 3 Yr. CAGR %	25.95	22.9	19.06	29.55	35.94
Cash From Operations, 3 Yr. CAGR %	5.19	26.39	-20.01	40.39	53.97
Capital Expenditures, 3 Yr. CAGR %	0.23	39.53	41.52	30.81	-20.91
Levered Free Cash Flow, 3 Yr. CAGR %	14.95	4.7	-24.28	39.88	63.2
Unlevered Free Cash Flow, 3 Yr. CAGR %	14.77	4.59	-24.28	39.88	63.2
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	22.57	21.16	21.63	22.19	23.77
Gross Profit, 5 Yr. CAGR %	22.21	21.07	20.3	21.46	23.8
EBITDA, 5 Yr. CAGR %	35.73	29.95	26.49	26.95	28.95
EBITA, 5 Yr. CAGR %	37.37	31.41	27.12	27.37	29.25
EBIT, 5 Yr. CAGR %	36.45	30.6	26.56	27.18	29.59
Earnings From Cont. Operations, 5 Yr. CAGR %	39.27	35.48	26.16	44.78	27.1
Net Income, 5 Yr. CAGR %	39.27	35.48	26.16	44.78	27.1
Normalized Net Income, 5 Yr. CAGR %	38.04	30.9	26.77	27.7	30.68
Diluted EPS Before Extra, 5 Yr. CAGR %	36.76	33.3	26.14	45.35	27.41
Accounts Receivable, 5 Yr. CAGR %	21.98	15.33	30.13	25.3	23.81
Inventory, 5 Yr. CAGR %	40.17	24.11	33.66	49.37	48.09
Net Property, Plant and Equip., 5 Yr. CAGR %	6.56	13.32	14.85	15.88	3.49
Total Assets, 5 Yr. CAGR %	32.51	27.1	22.45	26.41	27.4
Tangible Book Value, 5 Yr. CAGR %	30.72	27.25	22.03	27.57	28.17
Common Equity, 5 Yr. CAGR %	33.33	29.14	24.07	27.49	28.13
Cash From Operations, 5 Yr. CAGR %	25.32	42.27	-4.84	32.23	30.95
Capital Expenditures, 5 Yr. CAGR %	-5.1	24.76	23.92	7.64	15.25
Levered Free Cash Flow, 5 Yr. CAGR %	27.89	59.92	-6.41	21.59	35.84
Unlevered Free Cash Flow, 5 Yr. CAGR %	27.58	58.93	-6.49	21.51	35.84