ANET vs. LITE: Arista Networks vs. Lumentum Stock Comparison

November 11, 2026

How do Arista Networks (ANET) and Lumentum (LITE) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Arista Networks (ANET) and Lumentum (LITE) are both classified in the Communications Equipment sub-industry within the broader Communications Equipment industry, placing them in the closest GICS peer bucket.

Company profile comparison for Arista Networks (ANET) and Lumentum (LITE)
Profile Item	ANET	LITE
Name	Arista Networks Inc.	Lumentum Holdings Inc.
Country/Region	United States	United States
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Technology Hardware & Equipment	Technology Hardware & Equipment
GICS Industry	Communications Equipment	Communications Equipment
GICS Sub-Industry	Communications Equipment	Communications Equipment
Market Capitalization	215.79 billion USD	48.84 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	June 6, 2014	July 23, 2015
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

ANET

LITE

GSPC

Arista Networks (ANET) vs. Lumentum (LITE), with S&P 500 (GSPC) for reference: 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 Lumentum (LITE). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Arista Networks (ANET) and Lumentum (LITE). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Arista Networks (ANET) and Lumentum (LITE)
Metric	ANET	LITE
Total Return (1Y)	38.40%	150.31%
Total Return (3Y, Annualized)	52.15%	147.76%
Total Return (5Y, Annualized)	41.19%	45.47%

Risk Profile

Drawdown History

ANET

LITE

GSPC

Arista Networks (ANET) vs. Lumentum (LITE), with S&P 500 (GSPC) for reference: 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 Lumentum (LITE). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Arista Networks (ANET) and Lumentum (LITE)
Metric	ANET	LITE
Volatility (1Y, Annualized)	56.66%	101.27%
Beta (5Y)	1.60	1.73
Max Drawdown (5Y)	-50.42%	-66.48%
Avg. Volume (3M)	6.09M	5.27M

Risk-Adjusted Performance

Risk-Return Positioning

ANET and LITE are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Arista Networks (ANET) and Lumentum (LITE)
Metric	ANET	LITE
Sharpe Ratio (1Y)	0.60	1.44
Sortino Ratio (1Y)	0.87	2.14

Profitability

ROE (TTM)

Lumentum (LITE) reports a negative ROE of -245.79%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile Arista Networks (ANET) reports 33.52%, ranking against industry peers normally.

ANET

Technology Hardware & Equipment industry group

33.52%

Max: 42.47%
ANET: 33.52%
Q3: 19.13%
Median: 11.00%
Q1: 1.63%
Min: -20.62%

LITE

Technology Hardware & Equipment industry group

-245.79%

Max: 42.47%
Q3: 19.13%
Median: 11.00%
Q1: 1.63%
Min: -20.62%
LITE: -245.79%

Arista Networks (ANET) vs. Lumentum (LITE): A comparison of their ROE against the Technology Hardware & Equipment industry group benchmark.

Net Margin (TTM)

Lumentum (LITE) reports a negative net margin of -175.78%, usually indicating a net loss over the period. Meanwhile Arista Networks (ANET) reports 39.97%, ranking against industry peers normally.

ANET

Technology Hardware & Equipment industry group

39.97%

ANET: 39.97%
Max: 27.60%
Q3: 11.66%
Median: 4.08%
Q1: 0.00%
Min: -11.02%

LITE

Technology Hardware & Equipment industry group

-175.78%

Max: 27.60%
Q3: 11.66%
Median: 4.08%
Q1: 0.00%
Min: -11.02%
LITE: -175.78%

Arista Networks (ANET) vs. Lumentum (LITE): A comparison of their net margin against the Technology Hardware & Equipment industry group benchmark.

Operating Margin (TTM)

Arista Networks (ANET) at 44.90% shows unusually strong operating efficiency — above its industry’s operating margin range — and Lumentum (LITE) at 27.95% also operates in the top quartile.

ANET

Technology Hardware & Equipment industry group

44.90%

ANET: 44.90%
Max: 36.27%
Q3: 18.36%
Median: 8.84%
Q1: 1.46%
Min: -21.39%

LITE

Technology Hardware & Equipment industry group

27.95%

Max: 36.27%
LITE: 27.95%
Q3: 18.36%
Median: 8.84%
Q1: 1.46%
Min: -21.39%

Arista Networks (ANET) vs. Lumentum (LITE): A comparison of their operating margin against the Technology Hardware & Equipment industry group benchmark.

Profitability Metrics

Profitability metrics for Arista Networks (ANET) and Lumentum (LITE)
Metric	ANET	LITE
ROE (TTM)	33.52%	-245.79%
ROA (TTM)	15.04%	9.19%
Net Margin (TTM)	39.97%	-175.78%
Operating Margin (TTM)	44.90%	27.95%
Gross Margin (TTM)	62.88%	47.98%

Growth

Revenue Growth

Both companies are growing quickly, but Lumentum (LITE) at 83.22% is the standout with revenue growth above its industry range; Arista Networks (ANET) at 28.60% also sits in the top quartile.

Arista Networks (ANET) vs. Lumentum (LITE): A comparison of their Revenue Growth across different time periods.

EPS Growth

Arista Networks (ANET) at 23.32% is around its peer norm for EPS growth, while Lumentum (LITE) at -25,224.32% falls below its industry range, a notably weak earnings reading.

Arista Networks (ANET) vs. Lumentum (LITE): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Arista Networks (ANET) and Lumentum (LITE)
Metric	ANET	LITE
Revenue Growth (YoY)	28.60%	83.22%
Revenue Growth (3Y CAGR)	27.15%	19.48%
EPS Growth (YoY)	23.32%	-25,224.32%
EPS Growth (3Y CAGR)	37.08%	--

Financial Strength

Current Ratio (MRQ)

Lumentum (LITE) at 1.61 keeps current ratio within its industry’s typical mid-range, while Arista Networks (ANET) at 3.29 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

ANET

Technology Hardware & Equipment industry group

3.29

Max: 5.34
ANET: 3.29
Q3: 3.02
Median: 1.95
Q1: 1.32
Min: 0.17

LITE

Technology Hardware & Equipment industry group

1.61

Max: 5.34
Q3: 3.02
Median: 1.95
LITE: 1.61
Q1: 1.32
Min: 0.17

Arista Networks (ANET) vs. Lumentum (LITE): A comparison of their current ratio against the Technology Hardware & Equipment industry group benchmark.

Debt / Equity (MRQ)

Only one side’s leverage can be read here: Lumentum (LITE) carries debt-to-equity ratio of 0.31 against its industry range, while Arista Networks (ANET) reports no figure this period.

ANET

Technology Hardware & Equipment industry group

Max: 1.76
Q3: 0.78
Median: 0.24
Q1: 0.04
Min: 0.01
ANET: --

LITE

Technology Hardware & Equipment industry group

0.31

Max: 1.76
Q3: 0.78
LITE: 0.31
Median: 0.24
Q1: 0.04
Min: 0.01

Arista Networks (ANET) vs. Lumentum (LITE): ANET does not report debt-to-equity ratio, so it has no value marker; LITE is benchmarked against the Technology Hardware & Equipment industry group.

Financial Strength Metrics

Financial strength metrics for Arista Networks (ANET) and Lumentum (LITE)
Metric	ANET	LITE
Current Ratio (MRQ)	3.29	1.61
Debt / Equity (MRQ)	--	0.31
Net Debt / EBITDA	-2.71	-0.48

Dividends

Dividend Yield (TTM)

Neither Arista Networks (ANET) nor Lumentum (LITE) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

ANET

Technology Hardware & Equipment industry group

0.00%

Max: 0.73%
Q3: 0.31%
ANET: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

LITE

Technology Hardware & Equipment industry group

0.00%

Max: 0.73%
Q3: 0.31%
LITE: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Arista Networks (ANET) vs. Lumentum (LITE): A comparison of their dividend yield against the Technology Hardware & Equipment industry group benchmark.

Dividend Payout Ratio (TTM)

Neither Arista Networks (ANET) nor Lumentum (LITE) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

ANET

Technology Hardware & Equipment industry group

0.00%

Max: 32.27%
Q3: 14.48%
ANET: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

LITE

Technology Hardware & Equipment industry group

0.00%

Max: 32.27%
Q3: 14.48%
LITE: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Arista Networks (ANET) vs. Lumentum (LITE): A comparison of their payout ratio against the Technology Hardware & Equipment industry group benchmark.

Dividend Metrics

Dividend metrics for Arista Networks (ANET) and Lumentum (LITE)
Metric	ANET	LITE
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Arista Networks (ANET) trades at 45.79 times trailing earnings, ranked against its peers, while Lumentum (LITE) has no P/E ratio this period.

ANET

Technology Hardware & Equipment industry group

45.79

Max: 69.48
ANET: 45.79
Q3: 41.02
Median: 26.39
Q1: 19.36
Min: 6.07

LITE

Technology Hardware & Equipment industry group

Max: 69.48
Q3: 41.02
Median: 26.39
Q1: 19.36
Min: 6.07
LITE: --

Arista Networks (ANET) vs. Lumentum (LITE): LITE does not report P/E ratio, so it has no value marker; ANET is benchmarked against the Technology Hardware & Equipment industry group.

P/S Ratio (TTM)

Investors are paying well above the peer range per dollar of sales for both Arista Networks (ANET) at 18.15 and Lumentum (LITE) at 13.05 — each P/S ratio clears its industry’s benchmark range.

ANET

Technology Hardware & Equipment industry group

18.15

ANET: 18.15
Max: 11.30
Q3: 5.82
Median: 2.56
Q1: 1.05
Min: 0.00

LITE

Technology Hardware & Equipment industry group

13.05

LITE: 13.05
Max: 11.30
Q3: 5.82
Median: 2.56
Q1: 1.05
Min: 0.00

Arista Networks (ANET) vs. Lumentum (LITE): A comparison of their P/S ratio against the Technology Hardware & Equipment industry group benchmark.

P/B Ratio (MRQ)

Both look rich against book: Lumentum (LITE) at 10.67 sits in the upper P/B ratio quartile, and Arista Networks (ANET) at 13.12 prices even higher, above its industry range.

ANET

Technology Hardware & Equipment industry group

13.12

ANET: 13.12
Max: 10.75
Q3: 5.52
Median: 3.17
Q1: 1.79
Min: 0.33

LITE

Technology Hardware & Equipment industry group

10.67

Max: 10.75
LITE: 10.67
Q3: 5.52
Median: 3.17
Q1: 1.79
Min: 0.33

Arista Networks (ANET) vs. Lumentum (LITE): A comparison of their P/B ratio against the Technology Hardware & Equipment industry group benchmark.

Valuation Metrics

Valuation metrics for Arista Networks (ANET) and Lumentum (LITE)
Metric	ANET	LITE
P/E Ratio (TTM)	45.79	--
P/S Ratio (TTM)	18.15	13.05
P/B Ratio (MRQ)	13.12	10.67
Free Cash Flow Yield (TTM)	1.39%	0.29%