ANET · XBRL financial data

Arista Networks financial statements, every quarter

The same tables from 12 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal quarters (ANET's year ends in late December)

In millions of dollars	Q3 FY23Sep 30, 2023	Q4 FY23Dec 31, 2023	Q1 FY24Mar 31, 2024	Q2 FY24Jun 30, 2024	Q3 FY24Sep 30, 2024	Q4 FY24Dec 31, 2024	Q1 FY25Mar 31, 2025	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26Mar 31, 2026	Q2 FY26Jun 30, 2026
Revenue from contracts with customers	1,509	1,540*	1,571	1,690	1,811	1,930*	2,005	2,205	2,308	2,488*	2,709	3,036
Cost of goods and services sold	567	541*	570	593	649	699*	729	766	818	924*	1,032	1,125
Gross profit	942	999*	1,001	1,097	1,162	1,231*	1,276	1,439	1,490	1,564*	1,677	1,910
Research and development	212	211*	208	267	236	285*	266	297	326	348*	344	348
General and administrative	25	42*	28	26	34	35*	34	29	35	43*	34	34
Total operating expenses	340	359*	341	398	376	431*	417	452	512	531*	519	532
Operating income (loss)	603	640*	660	700	785	800*	859	986	978	1,033*	1,158	1,378
Income tax expense (benefit)	99	81*	85	105	135	88*	141	191	224	182*	249	291
Net income (loss)	545	614*	638	665	748	801*	814	889	853	956*	1,023	1,213
Earnings per share, basic‡ USD per share	0.44	0.49*	0.51	0.53	0.60	0.64*	0.65	0.71	0.68	0.76*	0.81	0.96
Earnings per share, diluted‡ USD per share	0.43	0.48*	0.50	0.52	0.58	0.62*	0.64	0.70	0.67	0.75*	0.80	0.95
Weighted average shares, basic‡ millions of shares	1,241	1,246*	1,252	1,255	1,258	1,260*	1,260	1,256	1,258	1,258*	1,258	1,260
Weighted average shares, diluted‡ millions of shares	1,271	1,275*	1,279	1,280	1,282	1,283*	1,279	1,271	1,277	1,276*	1,274	1,276

‡ Per-share figures and share counts are adjusted for the 4-for-1 stock split (December 2024); filings made before it reported them unadjusted.

Balance sheet

CSV

Fiscal quarters (ANET's year ends in late December)

In millions of dollars	Q3 FY23Sep 30, 2023	Q4 FY23Dec 31, 2023	Q1 FY24Mar 31, 2024	Q2 FY24Jun 30, 2024	Q3 FY24Sep 30, 2024	Q4 FY24Dec 31, 2024	Q1 FY25Mar 31, 2025	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26Mar 31, 2026	Q2 FY26Jun 30, 2026
Cash and cash equivalents	1,749	1,939	2,092	2,429	3,175	2,762	1,845	2,226	2,327	1,964	2,790	2,290
Marketable securities	2,707	3,069	3,358	3,845	4,253	5,541	6,305	6,619	7,780	8,779	9,564	11,053
Accounts receivable	833	1,025	1,090	1,227	1,131	1,140	1,436	1,624	1,489	1,887	1,924	2,266
Inventory	1,894	1,945	2,025	1,854	1,770	1,835	1,957	2,059	2,156	2,247	2,380	2,535
Prepaid and other current assets	472	413	361	488	549	632	734	976	1,434	1,510	1,900	2,019
Total current assets	7,655	8,390	8,926	9,842	10,878	11,911	12,276	13,504	15,185	16,387	18,557	20,163
Property and equipment, net	103	102	98	96	93	99	124	152	173	203	250	313
Right-of-use asset	59	56	—	—	—	52	—	—	—	—	—	—
Goodwill	269	269	269	269	—	269	269	417	416	416	416	416
Total assets	9,069	9,947	10,550	11,623	12,847	14,044	14,515	16,534	18,049	19,449	21,657	23,720
Accounts payable	269	435	223	298	289	381	389	544	481	652	608	693
Accrued liabilities	410	407	271	320	324	435	263	381	471	475	442	487
Total current liabilities	1,847	1,910	1,783	2,162	2,434	2,732	3,122	4,051	4,667	5,377	6,560	6,818
Lease liability, non-current	48	44	—	—	—	37	—	—	—	—	—	—
Total liabilities	2,563	2,728	2,688	3,192	3,601	4,049	4,396	5,633	6,142	7,078	8,169	8,922
Retained earnings	4,500	5,114	5,689	6,182	6,865	7,542	7,569	8,262	9,115	9,447	10,470	11,683
Total stockholders' equity	6,506	7,219	7,862	8,431	9,246	9,995	10,119	10,902	11,907	12,371	13,487	14,798
Total liabilities and equity	9,069	9,947	10,550	11,623	12,847	14,044	14,515	16,534	18,049	19,449	21,657	23,720
Common shares outstanding (cover page)‡ millions of shares	1,244	1,251	1,253	1,257	1,260	1,261	1,256	1,257	1,259	1,257	1,259	1,261

‡ Per-share figures and share counts are adjusted for the 4-for-1 stock split (December 2024); filings made before it reported them unadjusted.

Cash flows

CSV

Fiscal quarters (ANET's year ends in late December)

In millions of dollars	Q3 FY23Sep 30, 2023	Q4 FY23Dec 31, 2023	Q1 FY24Mar 31, 2024	Q2 FY24Jun 30, 2024	Q3 FY24Sep 30, 2024	Q4 FY24Dec 31, 2024	Q1 FY25Mar 31, 2025	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26Mar 31, 2026	Q2 FY26Jun 30, 2026
Net income (loss)	545	614*	638	665	748	801*	814	889	853	956*	1,023	1,213
Stock-based compensation	85*	81*	77	79*	98*	101*	93	85*	128*	133*	121	120*
Depreciation and amortization	17*	14*	16	15*	16*	15*	14	13*	23*	23*	23	23*
Net cash from operating activities	699*	526*	514	989*	1,174*	1,031*	642	1,200*	1,268*	1,262*	1,694	1,083*
Purchases of property and equipment	11*	—	9	3*	7*	—	28	24*	30*	—	55	30*
Net cash from investing activities	(226)*	(337)*	(296)	(478)*	(374)*	(1,310)*	(766)	(625)*	(1,186)*	(999)*	(865)	(1,580)*
Share repurchases	0*	0*	63	172*	65*	124*	787	196*	0*	620*	0	0*
Net cash from financing activities	15*	(1)*	(63)	(173)*	(56)*	(130)*	(794)	(197)*	21*	(626)*	0	(2)*
Net change in cash	487*	190*	153	337*	747*	(413)*	(917)	380*	101*	(363)*	826	(499)*

Compare with peers

SIC 3576 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 3576 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
* marks a quarter worked out from the filing totals: for a 10-K, the year less the first three quarters; for a 10-Q, the year-to-date total less the earlier one.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Quarter
Arista Networks	2,290	3,036	1,083*	1.3B	Q2 FY26 10-QJun 30, 2026
Palo Alto Networks	2,514	3,410*	1,357*	818.0M	Q4 FY26 10-KJul 31, 2026
Seagate Technology Holdings	1,258	4,233	1,690	229.6M	Q1 FY27 10-QOct 2, 2026
Fortinet	3,751	2,078	946*	734.7M	Q3 FY26 10-QSep 30, 2026
Western Digital	1,314	4,381	1,604	374.3M	Q1 FY27 10-QOct 2, 2026
International Business Machines	9,233	17,103	4,025*	945.1M	Q3 FY26 10-QSep 30, 2026
Sandisk	5,136	11,031	6,363	142.3M	Q1 FY27 10-QOct 2, 2026
Dell Technologies	11,569	46,971	2,225*	not reported	Q2 FY27 10-QJul 31, 2026
Cisco Systems	7,218	17,252*	5,386*	3.9B	Q4 FY26 10-KJul 25, 2026

Not investment advice. Not affiliated with the U.S. SEC.