Arista Networks (ANET) Stock Analysis

September 7, 2026

This is a peer-relative look at Arista Networks (ANET): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Technology Hardware & Equipment peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Arista Networks (ANET)
Profile Item	ANET
Name	Arista Networks, Inc.
Country/Region	United States
GICS Sector	Information Technology
GICS Industry Group	Technology Hardware & Equipment
GICS Industry	Communications Equipment
GICS Sub-Industry	Communications Equipment
Market Capitalization	244.40 billion USD
Currency	USD
Exchange	NYSE
Listing Date	June 6, 2014
Security Type	Common Stock

Price Performance

Cumulative Growth

ANET

GSPC

Arista Networks (ANET) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Arista Networks (ANET) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Arista Networks (ANET) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Arista Networks (ANET) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ANET	Industry group median
Total Return (1Y)	37.27%	37.27%
Total Return (3Y, Annualized)	57.77%	24.82%
Total Return (5Y, Annualized)	53.56%	11.22%

Risk Profile

Drawdown History

ANET

GSPC

Arista Networks (ANET) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Arista Networks (ANET) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Arista Networks (ANET) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ANET	Industry group median
Volatility (1Y, Annualized)	54.76%	54.76%
Beta (5Y)	1.61	1.32
Max Drawdown (5Y)	-50.42%	-55.56%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. ANET is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Arista Networks (ANET) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ANET	Industry group median
Sharpe Ratio (1Y)	0.61	0.61
Sortino Ratio (1Y)	0.88	0.97

Profitability

ROE (TTM)

Arista Networks (ANET) posts ROE of 31.48%, in the upper peer quartile. That suggests the company earns more from each dollar of shareholders’ equity than most industry peers, a useful capital-efficiency signal.

ANET

Technology Hardware & Equipment industry group

31.48%

Group distribution

Max: 44.01%
ANET: 31.48%
Q3: 18.81%
Median: 10.41%
Q1: 0.07%
Min: -24.95%

Largest peers

STX: 371.53%
AAPL: 148.75%
SNDK: 91.64%
APH: 38.12%
ANET: 31.48%
CSCO: 27.32%
DELL: --

Where Arista Networks (ANET) stands on ROE within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Arista Networks (ANET) keeps 38.37% of revenue as net profit on net margin, above the industry benchmark range. That is unusually strong bottom-line conversion, though tax effects, asset sales, or other one-off gains should be checked before treating it as durable.

ANET

Technology Hardware & Equipment industry group

38.37%

Group distribution

ANET: 38.37%
Max: 27.62%
Q3: 10.85%
Median: 3.47%
Q1: -0.47%
Min: -14.17%

Largest peers

SNDK: 56.47%
ANET: 38.37%
AAPL: 27.62%
STX: 26.11%
CSCO: 20.95%
APH: 17.73%
DELL: 7.53%

Where Arista Networks (ANET) stands on net margin within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Arista Networks (ANET) turns 45.39% of revenue into operating profit on operating margin, above the industry benchmark range. Core operations are retaining an unusually large share before interest and taxes, which points to pricing power or tight cost control if the margin is sustainable.

ANET

Technology Hardware & Equipment industry group

45.39%

Group distribution

ANET: 45.39%
Max: 36.27%
Q3: 17.23%
Median: 7.28%
Q1: 1.10%
Min: -21.39%

Largest peers

SNDK: 78.47%
ANET: 45.39%
STX: 43.07%
AAPL: 32.62%
APH: 29.78%
CSCO: 27.72%
DELL: 11.47%

Where Arista Networks (ANET) stands on operating margin within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Arista Networks (ANET) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ANET	Industry group median
ROE (TTM)	31.48%	10.41%
ROA (TTM)	14.12%	4.42%
Net Margin (TTM)	38.37%	3.47%
Operating Margin (TTM)	45.39%	7.28%
Gross Margin (TTM)	63.00%	38.95%

Growth

Revenue Growth

Arista Networks (ANET) grew revenue 28.60%, in the upper peer quartile. The top line is expanding faster than at most industry peers, which points to share gains or stronger pricing.

Arista Networks (ANET): Revenue Growth across different time periods, set against Technology Hardware & Equipment industry-group medians.

EPS Growth

Arista Networks (ANET) grew earnings per share 23.32%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

Arista Networks (ANET): EPS Growth across different time periods, set against Technology Hardware & Equipment industry-group medians.

Growth Metrics

Arista Networks (ANET) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ANET	Industry group median
Revenue Growth (YoY)	28.60%	9.59%
Revenue Growth (3Y CAGR)	27.15%	2.58%
EPS Growth (YoY)	23.32%	13.65%
EPS Growth (3Y CAGR)	37.08%	3.15%

Financial Strength

Current Ratio (MRQ)

Arista Networks (ANET) has current ratio of 2.96, above the industry’s typical middle range. Liquidity looks ample versus peers, though an unusually high cushion can also mean idle current assets or inefficient working capital.

ANET

Technology Hardware & Equipment industry group

2.96

Group distribution

Max: 4.90
ANET: 2.96
Q3: 2.94
Median: 1.97
Q1: 1.31
Min: 0.17

Largest peers

ANET: 2.96
SNDK: 2.29
APH: 1.89
STX: 1.67
AAPL: 1.00
DELL: 0.96
CSCO: 0.93

Where Arista Networks (ANET) stands on current ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

No usable debt-to-equity ratio is available for Arista Networks (ANET) this period, so the balance-sheet leverage read is skipped.

ANET

Technology Hardware & Equipment industry group

Group distribution

Max: 1.80
Q3: 0.86
Median: 0.27
Q1: 0.04
Min: 0.00
ANET: --

Largest peers

STX: 1.80
APH: 1.20
AAPL: 0.78
CSCO: 0.62
SNDK: 0.01
ANET: --
DELL: --

Arista Networks (ANET) doesn’t report debt-to-equity ratio this period; the box shows the Technology Hardware & Equipment group’s distribution and the dots its largest members.

Financial Strength Metrics

Arista Networks (ANET) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ANET	Industry group median
Current Ratio (MRQ)	2.96	1.97
Debt / Equity (MRQ)	--	0.27
Net Debt / EBITDA	-2.88	0.28

Dividends

Dividend Yield (TTM)

Arista Networks (ANET) pays no dividend, leaving dividend yield at 0.00% this period. Shareholders may still receive value through reinvestment or buybacks, but there is no dividend income to compare here.

ANET

Technology Hardware & Equipment industry group

0.00%

Group distribution

Max: 0.77%
Q3: 0.32%
ANET: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

CSCO: 1.53%
APH: 0.56%
DELL: 0.45%
STX: 0.37%
AAPL: 0.32%
ANET: 0.00%
SNDK: 0.00%

Where Arista Networks (ANET) stands on dividend yield within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Arista Networks (ANET) paid no earnings out as dividends this period, leaving payout ratio at 0.00%. There is no dividend payout to size against earnings.

ANET

Technology Hardware & Equipment industry group

0.00%

Group distribution

Max: 32.21%
Q3: 13.32%
ANET: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

CSCO: 49.85%
APH: 22.88%
STX: 21.15%
DELL: 13.44%
AAPL: 12.04%
ANET: 0.00%
SNDK: 0.00%

Where Arista Networks (ANET) stands on payout ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Arista Networks (ANET) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ANET	Industry group median
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

Arista Networks (ANET) trades at P/E ratio of 61.32, in the richer earnings-multiple quartile for its industry. That premium needs support from growth, durable earnings, or stronger business quality.

ANET

Technology Hardware & Equipment industry group

61.32

Group distribution

Max: 94.50
ANET: 61.32
Q3: 51.90
Median: 32.47
Q1: 22.70
Min: 12.14

Largest peers

ANET: 61.32
STX: 60.97
APH: 41.39
AAPL: 36.61
CSCO: 32.79
DELL: 30.49
SNDK: 23.58

Where Arista Networks (ANET) stands on P/E ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Arista Networks (ANET) trades at 23.19 on P/S ratio, above the industry benchmark range. The stock is being valued at an unusually rich price per dollar of trailing revenue.

ANET

Technology Hardware & Equipment industry group

23.19

Group distribution

ANET: 23.19
Max: 15.81
Q3: 7.34
Median: 3.08
Q1: 1.16
Min: 0.00

Largest peers

ANET: 23.19
STX: 15.81
SNDK: 12.58
AAPL: 10.00
APH: 7.04
CSCO: 6.80
DELL: 2.24

Where Arista Networks (ANET) stands on P/S ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Arista Networks (ANET) trades at 16.52 on P/B ratio, above the industry benchmark range. Investors are putting an unusually rich price on each dollar of book equity relative to peers.

ANET

Technology Hardware & Equipment industry group

16.52

Group distribution

ANET: 16.52
Max: 14.90
Q3: 7.23
Median: 3.73
Q1: 1.98
Min: 0.09

Largest peers

STX: 88.88
AAPL: 43.47
ANET: 16.52
SNDK: 16.48
APH: 13.17
CSCO: 8.57
DELL: -236.95

Where Arista Networks (ANET) stands on P/B ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Arista Networks (ANET) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ANET	Industry group median
P/E Ratio (TTM)	61.32	32.47
P/S Ratio (TTM)	23.19	3.08
P/B Ratio (MRQ)	16.52	3.73
Free Cash Flow Yield (TTM)	1.59%	2.31%