Arista Networks, Inc. (ANET)
NYSE · Technology · analysed October 12, 2026
Founded in 2004, Arista Networks, Inc. is a provider of software-driven, high-speed cloud networking solutions for hyperscale data centers, enterprise campus environments, and cloud service providers. The company designs and markets multilayer network switches and software platforms centered on its proprietary Linux-based operating system, the Extensible Operating System (EOS). Arista's current strategic focus is on advancing artificial intelligence networking infrastructure, highlighted by product launches of high-density 800G and 1.6T Ethernet platforms designed to power large-scale AI compute clusters alongside its enterprise campus and cloud management solutions.
Executive summary
Arista Networks remains the premier software-driven Ethernet networking provider for hyperscale cloud and enterprise data centers, generating 28.6% revenue growth in FY2025 and accelerating to 37.7% year-over-year in the second quarter of 20261,12. The company maintains an unencumbered balance sheet with zero financial debt, $13.34 billion in cash and marketable securities, and 39.0% net margins1,27. However, with the stock trading at 67.9x trailing earnings and 52.8x forward earnings, market expectations already price in robust execution amidst mounting competition from NVIDIA's Spectrum-X and heavy customer concentration in Microsoft and Meta1,21,27.
Sources cited here, 4 of 27
- 1stockanalysis.com
- 12arista.com
- 21valueaddvc.com
- 27sec.gov
Key figures
- Market cap
- $272.2B
- P/E, trailing
- 67.9
- P/E, next 12 months
- 52.8
- Revenue growth, last fiscal year
- 28.6%
- Net margin, last fiscal year
- 39.0%
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