Is the business good?
How good a business is ANET?
Arista Networks keeps 43% of every revenue dollar as operating profit, against 4.9% for the median Computer Hardware name.
43%
Operating margin · Computer Hardware median 4.9% · 12 months to Q2 2026
- Cash conversion
- 1.04×
Cash conversion · 0.82× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- +0.38%
Share count, year on year · flat: no meaningful dilution
- R&D as % of revenue
- 13%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | 30% |
| FY2021 | 31% |
| FY2022 | 35% |
| FY2023 | 39% |
| FY2024 | 42% |
| FY2025 | 43% |
Details›
- Gross margin12 months to Q2 2026
- 63%
- Operating margin12 months to Q2 2026
- 43%
- Net margin12 months to Q2 2026
- 38%
- Free cash flow margin
- 40%
- R&D as % of revenue
- 13%
- Revenue, trailing twelve months
- $10.5B
- Free cash flow, trailing twelve months
- $4.19B
- Net income, trailing twelve months
- $4.04B
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Computer Hardware
Ranks #3 of 11 by Smart Score