ANET vs. ZBRA: Arista Networks vs. Zebra Stock Comparison

November 11, 2026

How do Arista Networks (ANET) and Zebra (ZBRA) 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 Zebra (ZBRA) both fall under the Technology Hardware & Equipment industry group, but ANET is classified in Communications Equipment while ZBRA is classified in Electronic Equipment, Instruments & Components.

Company profile comparison for Arista Networks (ANET) and Zebra (ZBRA)
Profile Item	ANET	ZBRA
Name	Arista Networks Inc.	Zebra Technologies Corp. Class A Common Stock
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	Electronic Equipment, Instruments & Components
GICS Sub-Industry	Communications Equipment	Electronic Equipment & Instruments
Market Capitalization	215.79 billion USD	15.16 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	June 6, 2014	August 15, 1991
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

ANET

ZBRA

GSPC

Arista Networks (ANET) vs. Zebra (ZBRA), 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 Zebra (ZBRA). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Arista Networks (ANET) and Zebra (ZBRA)
Metric	ANET	ZBRA
Total Return (1Y)	38.40%	26.64%
Total Return (3Y, Annualized)	52.15%	17.52%
Total Return (5Y, Annualized)	41.19%	-11.21%

Risk Profile

Drawdown History

ANET

ZBRA

GSPC

Arista Networks (ANET) vs. Zebra (ZBRA), 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 Zebra (ZBRA). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Arista Networks (ANET) and Zebra (ZBRA)
Metric	ANET	ZBRA
Volatility (1Y, Annualized)	56.66%	47.91%
Beta (5Y)	1.60	1.64
Max Drawdown (5Y)	-50.42%	-67.78%
Avg. Volume (3M)	6.09M	596.00K

Risk-Adjusted Performance

Risk-Return Positioning

ANET and ZBRA 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 Zebra (ZBRA)
Metric	ANET	ZBRA
Sharpe Ratio (1Y)	0.60	0.47
Sortino Ratio (1Y)	0.87	0.82

Profitability

ROE (TTM)

Arista Networks (ANET) at 33.52% sits in the top ROE quartile, while Zebra (ZBRA) at 16.46% is closer to the peer norm — stronger capital efficiency for ANET.

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%

ZBRA

Technology Hardware & Equipment industry group

16.46%

Max: 42.47%
Q3: 19.13%
ZBRA: 16.46%
Median: 11.00%
Q1: 1.63%
Min: -20.62%

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

Net Margin (TTM)

Arista Networks (ANET) at 39.97% converts revenue to bottom-line profit above its industry’s benchmark range, while Zebra (ZBRA) at 9.80% keeps roughly the typical share for its industry.

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%

ZBRA

Technology Hardware & Equipment industry group

9.80%

Max: 27.60%
Q3: 11.66%
ZBRA: 9.80%
Median: 4.08%
Q1: 0.00%
Min: -11.02%

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

Operating Margin (TTM)

Arista Networks (ANET) at 44.90% turns sales into operating profit above its industry’s benchmark range, while Zebra (ZBRA) at 14.75% operates around its industry’s norm.

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%

ZBRA

Technology Hardware & Equipment industry group

14.75%

Max: 36.27%
Q3: 18.36%
ZBRA: 14.75%
Median: 8.84%
Q1: 1.46%
Min: -21.39%

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

Profitability Metrics

Profitability metrics for Arista Networks (ANET) and Zebra (ZBRA)
Metric	ANET	ZBRA
ROE (TTM)	33.52%	16.46%
ROA (TTM)	15.04%	7.51%
Net Margin (TTM)	39.97%	9.80%
Operating Margin (TTM)	44.90%	14.75%
Gross Margin (TTM)	62.88%	48.90%

Growth

Revenue Growth

Arista Networks (ANET) at 28.60% sits in the top revenue growth quartile, while Zebra (ZBRA) at 8.33% is closer to the peer norm — faster top-line expansion for ANET.

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

EPS Growth

Both Arista Networks (ANET) at 23.32% and Zebra (ZBRA) at -19.65% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

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

Growth Metrics

Growth metrics for Arista Networks (ANET) and Zebra (ZBRA)
Metric	ANET	ZBRA
Revenue Growth (YoY)	28.60%	8.33%
Revenue Growth (3Y CAGR)	27.15%	-2.27%
EPS Growth (YoY)	23.32%	-19.65%
EPS Growth (3Y CAGR)	37.08%	-2.41%

Financial Strength

Current Ratio (MRQ)

Arista Networks (ANET) at 3.29 carries current ratio above its industry’s typical mid-range, while Zebra (ZBRA) at 0.57 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

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

ZBRA

Technology Hardware & Equipment industry group

0.57

Max: 5.34
Q3: 3.02
Median: 1.95
Q1: 1.32
ZBRA: 0.57
Min: 0.17

Arista Networks (ANET) vs. Zebra (ZBRA): 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: Zebra (ZBRA) carries debt-to-equity ratio of 0.78 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: --

ZBRA

Technology Hardware & Equipment industry group

0.78

Max: 1.76
ZBRA: 0.78
Q3: 0.78
Median: 0.24
Q1: 0.04
Min: 0.01

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

Financial Strength Metrics

Financial strength metrics for Arista Networks (ANET) and Zebra (ZBRA)
Metric	ANET	ZBRA
Current Ratio (MRQ)	3.29	0.57
Debt / Equity (MRQ)	--	0.78
Net Debt / EBITDA	-2.71	2.09

Dividends

Dividend Yield (TTM)

Neither Arista Networks (ANET) nor Zebra (ZBRA) 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%

ZBRA

Technology Hardware & Equipment industry group

0.00%

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

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

Dividend Payout Ratio (TTM)

Neither Arista Networks (ANET) nor Zebra (ZBRA) 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%

ZBRA

Technology Hardware & Equipment industry group

0.00%

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

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

Dividend Metrics

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

Valuation

P/E Ratio (TTM)

Zebra (ZBRA) at 26.03 is near its industry’s usual P/E ratio, while Arista Networks (ANET) at 45.79 sits in the richer quartile — ANET needs stronger growth or earnings quality to justify the premium.

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

ZBRA

Technology Hardware & Equipment industry group

26.03

Max: 69.48
Q3: 41.02
Median: 26.39
ZBRA: 26.03
Q1: 19.36
Min: 6.07

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

P/S Ratio (TTM)

Zebra (ZBRA) at 2.47 prices around its industry’s typical P/S ratio, while Arista Networks (ANET) at 18.15 clears its benchmark range — ANET looks notably rich on sales.

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

ZBRA

Technology Hardware & Equipment industry group

2.47

Max: 11.30
Q3: 5.82
Median: 2.56
ZBRA: 2.47
Q1: 1.05
Min: 0.00

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

P/B Ratio (MRQ)

Zebra (ZBRA) at 4.26 sits near its industry’s typical P/B ratio, while Arista Networks (ANET) at 13.12 prices above its benchmark range — ANET looks rich relative to book.

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

ZBRA

Technology Hardware & Equipment industry group

4.26

Max: 10.75
Q3: 5.52
ZBRA: 4.26
Median: 3.17
Q1: 1.79
Min: 0.33

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

Valuation Metrics

Valuation metrics for Arista Networks (ANET) and Zebra (ZBRA)
Metric	ANET	ZBRA
P/E Ratio (TTM)	45.79	26.03
P/S Ratio (TTM)	18.15	2.47
P/B Ratio (MRQ)	13.12	4.26
Free Cash Flow Yield (TTM)	1.39%	4.61%