NYSE · TECHNOLOGY · Financials
Arista Networks (ANET) financial statements and cash flow.
Q1 FY2026 snapshot — revenue, profitability, balance-sheet strength, and cash generation. Market data feed · income-statement quarterly · as of 2026-03-31 · Market data feed · balance-sheet-statement quarterly · as of 2026-03-31.
Financial read
ANET is converting earnings into cash.
Start with revenue growth, margin quality, cash generation, and balance-sheet position before opening the full quarterly and annual statements.
Statement pulse
Q1 FY2026 revenue, profit, and FCF
Data last updated: Mar 30, 2026
20 income · 20 balance · 20 cash-flow quarterly rows. Full quarterly and annual tables remain below for model exports.
Revenue growth
+35.1%
Q1 FY2026 year-over-year
Net margin
37.76%
Gross margin 61.90%
FCF TTM
$5.28B
Cash conversion 141.87%
Net cash
—
Balance sheet coverage
ANET balance sheet summary
Assets, liabilities, liquidity, debt, and equity sit beside income and cash-flow tables so the statement history reads as one model-ready dataset.
20 quarterly · 16 annual rows · Market data feed · balance-sheet-statement quarterly · as of 2026-03-31
Latest period
Q1 FY2026
20 quarterly · 16 annual rows
Assets / liabilities
$21.66B
Liabilities $8.17B
Cash / debt
$2.79B
Net cash —
Equity / working capital
$13.49B
Working capital $12.00B
Financial statement period
ANET statement history
Market data feed · income-statement quarterly · as of 2026-03-31 · Market data feed · balance-sheet-statement quarterly · as of 2026-03-31 · Data last updated: Mar 30, 2026
Income statement
Quarterly and annual rows for revenue, operating leverage, earnings quality, and margin direction.
| Period | Revenue | Gross profit | Operating income | Interest income | Continuing ops | Net income | Comprehensive income | Net margin | Revenue QoQ | Net income QoQ |
|---|---|---|---|---|---|---|---|---|---|---|
| Q1 FY2026 | $2.71B | $1.68B | $1.16B | $109.20M | $1.02B | $1.02B | — | 37.76% | +8.9% | +7.0% |
| Q4 FY2025 | $2.49B | $1.56B | $1.03B | $103.00M | $955.80M | $955.80M | — | 38.42% | +7.8% | +12.1% |
| Q3 FY2025 | $2.31B | $1.49B | $978.20M | $99.80M | $853.00M | $853.00M | — | 36.95% | +4.7% | -4.0% |
| Q2 FY2025 | $2.20B | $1.44B | $986.20M | $90.40M | $888.80M | $888.80M | — | 40.31% | +10.0% | +9.2% |
| Q1 FY2025 | $2.00B | $1.28B | $858.80M | $90.20M | $813.80M | $813.80M | — | 40.59% | +3.9% | +1.6% |
| Q4 FY2024 | $1.93B | $1.23B | $799.65M | $90.35M | $801.00M | $801.00M | — | 41.49% | +6.6% | +7.1% |
| Q3 FY2024 | $1.81B | $1.16B | $785.30M | $85.37M | $747.94M | $748.00M | — | 41.31% | +7.1% | +12.4% |
| Q2 FY2024 | $1.69B | $1.10B | $699.60M | $71.45M | $665.43M | $665.40M | — | 39.36% | +7.6% | +4.3% |
Balance sheet
Provider-attributed balance-sheet rows for assets, liabilities, liquidity, debt, equity, and shares outstanding.
| Period | Cash | Current assets | Current liabilities | Total assets | Total liabilities | Total debt | Capital leases | Total equity | Shares | Debt QoQ |
|---|---|---|---|---|---|---|---|---|---|---|
| Q1 FY2026 | $2.79B | $18.56B | $6.56B | $21.66B | $8.17B | — | — | $13.49B | 1.27B | - |
| Q4 FY2025 | $1.96B | $16.39B | $5.38B | $19.45B | $7.08B | — | — | $12.37B | 1.28B | - |
| Q3 FY2025 | $2.33B | $15.18B | $4.67B | $18.05B | $6.14B | — | — | $11.91B | 1.28B | - |
| Q2 FY2025 | $2.23B | $13.50B | $4.05B | $16.53B | $5.63B | — | — | $10.90B | 1.27B | - |
| Q1 FY2025 | $1.85B | $12.28B | $3.12B | $14.51B | $4.40B | — | — | $10.12B | 1.28B | - |
| Q4 FY2024 | $2.76B | $11.91B | $2.73B | $14.04B | $4.05B | $59.64M | — | $9.99B | 1.28B | -14.6% |
| Q3 FY2024 | $3.18B | $10.88B | $2.43B | $12.85B | $3.60B | $69.80M | — | $9.25B | 1.28B | -35.3% |
| Q2 FY2024 | $2.43B | $9.84B | $2.16B | $11.62B | $3.19B | $107.83M | — | $8.43B | 1.28B | +155.5% |
Cash flow
Operating cash generation, capital expenditure, free cash flow, buybacks, dividends, and cash movement.
| Period | Operating cash flow | CapEx | Free cash flow | Net income | Stock comp | Debt issuance | Dividends paid | Buybacks | Change in cash | FCF QoQ |
|---|---|---|---|---|---|---|---|---|---|---|
| Q1 FY2026 | $1.69B | $54.50M | $1.64B | $1.02B | $120.90M | — | — | -$26.20M | — | +33.8% |
| Q4 FY2025 | $1.26B | $37.00M | $1.22B | $955.80M | $133.10M | — | — | -$620.10M | — | -1.1% |
| Q3 FY2025 | $1.27B | $30.10M | $1.24B | $853.00M | $127.90M | — | — | -$5.00M | — | +5.3% |
| Q2 FY2025 | $1.20B | $24.00M | $1.18B | $888.80M | $85.20M | — | — | -$195.90M | — | +91.8% |
| Q1 FY2025 | $641.70M | $28.40M | $613.30M | $813.80M | $93.00M | — | — | -$787.10M | — | -39.8% |
| Q4 FY2024 | $1.03B | $12.45M | $1.02B | $801.00M | $100.73M | — | — | -$123.80M | — | -12.8% |
| Q3 FY2024 | $1.17B | $7.00M | $1.17B | $748.00M | $98.10M | — | — | -$65.10M | — | +18.4% |
| Q2 FY2024 | $989.00M | $3.20M | $985.80M | $665.40M | $79.30M | — | — | -$172.00M | — | +95.4% |
Valuation and returns
- Enterprise value
- $196.72B
- Market data feed · key-metrics-ttm.enterpriseValueTTM
- Return on equity
- 31.50%
- Market data feed · ratios-ttm.returnOnEquityTTM
- Return on assets
- 14.40%
- Market data feed · ratios-ttm.returnOnAssetsTTM
- Debt / equity
- Pending
- Current ratio 2.83
Ratio values are either provider-attributed or computed from the latest statement rows above; missing fields stay marked until the feed supplies them.
Annual revenue and income multiples
- Annual revenue
- $9.01B
- Latest annual statement · FY FY2025 · Market data feed · income-statement annual · as of 2025-12-31
- Annual net income
- $3.51B
- Latest annual statement · FY FY2025 · Market data feed · income-statement annual · as of 2025-12-31
- Market cap / revenue
- 21.57
- Market value divided by annual revenue
- Market cap / income
- 55.32
- Market value divided by annual net income
Annual multiples use the latest annual row when available, then fall back to TTM statement math so valuation remains tied to visible data.
Annual sales and income multiple
Interest burden
Uses absolute annual net income when positive or negative
Latest income statement · Q1 FY2026
- Revenue
- $2.71B
- +35.1% YoY
- Gross profit
- $1.68B
- 61.90%
- Operating income
- $1.16B
- 42.74%
- Net income
- $1.02B
- 37.76%
Revenue, net income, and free cash flow
Quarterly statement rows, shown on one common dollar scale so margin compression and cash conversion stand out quickly.
Efficiency
- Revenue / employee
- Pending
- Employee count pending
- Net income / employee
- Pending
- TTM net income divided by employees
- FCF / employee
- Pending
- TTM free cash flow divided by employees
- Market cap / employee
- Pending
- Live value per employee
Growth vs cost pressure
Cash conversion
Above 1.0 means cash flow exceeds reported earnings
Quarterly margin heatmap
Latest quarter expense mix
Profit bridge
Detailed income lines
Other income statement lines
Balance sheet · Q1 FY2026
- Cash & equivalents
- $2.79B
- Total debt
- Pending
- Net cash
- Pending
- Net cash position
- Total equity
- $13.49B
Balance sheet detail
- Current assets
- $18.56B
- Current liabilities
- $6.56B
- Inventory
- $2.38B
- Receivables
- $1.92B
- Property, plant & equipment
- Provider field pending
- Field absent from the latest provider row
- Current debt
- Provider field pending
- Field absent from the latest provider row
- Long-term debt
- Provider field pending
- Field absent from the latest provider row
- Shares outstanding
- 1.27B
Balance sheet assets detail
Balance sheet liabilities detail
Debt and liquidity
Operating income / interest expense
Current assets less inventory / current liabilities
Shares outstanding trend
Quarterly balance-sheet shares outstanding, useful for spotting buybacks, dilution, and split-adjusted share-count drift.
Cash generation
- Operating cash flow
- $1.69B
- Capital expenditure
- $54.50M
- Free cash flow
- $1.64B
- Capital returned
- -$26.20M
- Buybacks + dividends paid
Cash-flow detail
- Depreciation & amortization
- $23.30M
- Investing cash flow
- -$865.30M
- Financing cash flow
- Pending
- Change in receivables
- Provider field pending
- Field absent from the latest provider row
- Change in inventory
- -$133.00M
- Stock issuance
- Provider field pending
- Provider field pending
- Buybacks
- -$26.20M
- Net buybacks
- -$26.20M
- Repurchases less stock issuance
- Dividends paid
- Pending
Cash flow read
ANET converts most of its earnings into cash.
Free cash flow of $1.64B versus $1.02B of reported net income means accruals aren't doing much heavy lifting — the cash is showing up alongside the earnings. That's the cleanest profile a fundamentals desk wants to see.
Frequently asked
Common questions.
Where can I see ANET financial statements?
The ANET Financials page hosts the latest income statement, balance sheet, and cash-flow statement for Arista Networks — quarterly and annual views, with TECHi's source attribution next to every line.
What is Arista Networks's revenue trend?
Quarterly and annual revenue, gross profit, operating income, net income, and free-cash-flow trends for Arista Networks are shown in the ANET Financials page visuals and statement tables when the provider feed supplies complete rows.
What is Arista Networks's profit margin?
Arista Networks reports a net margin of 38.30%. Gross / operating / net margin trends and the segment mix that drives them are broken out on the ANET Financials page.
Does Arista Networks have positive free cash flow?
Operating cash flow, capital expenditure, and free cash flow are tracked quarterly on the ANET Financials page when cash-flow rows are available. FCF margin and FCF yield are normalized on the /quote/ANET/statistics/ page.