Arista Networks
Builds EOS-based Ethernet networks for AI clusters, data centers, campuses, and branches.
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Profile
Sells Ethernet switches, routers, Wi-Fi, SD-WAN, network software, and support for AI, cloud, data-center, campus, and branch environments. A common EOS foundation and CloudVision management span the portfolio, while revenue remains concentrated in hardware, the Americas, and a small number of large customers.
Designs Ethernet switching and routing systems for AI clusters, cloud and enterprise data centers, campuses, and wide-area networks. Etherlink platforms serve AI fabrics; 7000-series switches and routers handle data-center and backbone traffic; campus switching, Wi-Fi, and VeloCloud SD-WAN connect offices and branches. EOS provides a common operating system across platforms, while CloudVision supplies management, telemetry, automation, observability, and security. A-Care support and software contracts add recurring service revenue.
Builds hardware designs and core software in-house while outsourcing most manufacturing. A shared software architecture, extensive automated testing, and direct engineering collaboration with large customers support reliable operation across the portfolio. Sales are global but concentrated in the Americas; switching and routing platforms generate most product revenue, a small number of large customers account for substantial sales, and key components come from limited suppliers, including Broadcom for most merchant switching silicon.
Company facts
Categories
Key statistics
Year to date +46.2% · Average volume (30d) 7.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 5, 2026 | Goldman Sachs | Reiterate | Buy | $188 | $225 |
| Aug 5, 2026 | UBS | Reiterate | Buy | $187 | $259 |
| Aug 5, 2026 | Morgan Stanley | Reiterate | Overweight | $190 | $220 |
| Aug 5, 2026 | Wells Fargo | Reiterate | Overweight | $200 | $255 |
| Aug 5, 2026 | KeyBanc | Reiterate | Overweight | $200 | $250 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $0.89 | $1.02 | +15.1% | $2.83B | $3.04B | +7.3% | +3.57% |
| May 5, 2026Q1 FY26 | $0.81 | $0.87 | +7.7% | $2.62B | $2.71B | +3.4% | −13.64% |
| Feb 12, 2026Q4 FY25 | $0.76 | $0.82 | +8.2% | $2.39B | $2.49B | +4.3% | +4.79% |
| Nov 4, 2025Q3 FY25 | $0.72 | $0.75 | +4.5% | $2.26B | $2.31B | +1.9% | −8.55% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.00B | $2.20B | $2.31B | $2.49B | $2.71B | $3.04B | |
| Gross profit | $1.28B | $1.44B | $1.49B | $1.56B | $1.68B | $1.91B | |
| Operating income | $858.8M | $986.2M | $978.2M | $1.03B | $1.16B | $1.38B | |
| Net income | $813.8M | $888.8M | $853.0M | $955.8M | $1.02B | $1.21B | |
| Diluted EPS | $0.64 | $0.70 | $0.67 | $0.75 | $0.80 | $0.95 | |
| Gross margin | 63.7% | 65.2% | 64.6% | 62.9% | 61.9% | 62.9% | |
| Operating margin | 42.8% | 44.7% | 42.4% | 41.5% | 42.7% | 45.4% |
Fiscal years (4-quarter sums)FY21 $2.95B · FY22 $4.38B · FY23 $5.86B · FY24 $7.00B · FY25 $9.01B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $13.34B · Total debt $0 · Total assets $23.72B · Shareholders' equity $14.80B
Dividends
No dividends on record.
Ownership
Shares outstanding 1.26B · Float 1.05B · 83.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Bechtolsheim Andreas · 10 percent owner | 181.14M | 14.39% | Form 4 | Aug 10, 2026 |
| BlackRock, Inc. | 91.38M | 7.26% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 68.69M | 5.46% | 13F | Aug 13, 2026 |
| State Street Corp | 48.17M | 3.83% | 13F | Aug 7, 2026 |
| FMR LLC | 47.35M | 3.76% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Jayshree Ullal | director, officer: CEO and Chairperson | −13,809 | $191.79 |
| Aug 21, 2026 | Kelly Bodnar Battles | director | −422 | $187.34 |
| Aug 20, 2026 | Kenneth Duda | director, officer: President and CTO | −43,333 | $185.42 |
| Aug 12, 2026 | Jayshree Ullal | director, officer: CEO and Chairperson | −486,455 | $208.13 |
| Aug 6, 2026 | Andreas Bechtolsheim | 10 percent owner | −411,848 | $192.75 |
Peers
- Cisco Systems
Dominant incumbent in data-center, campus, and AI networking on all fronts.
- Nvidia
Fast-rising AI Ethernet switch vendor matching Arista in hyperscale data centers.
- Hewlett Packard Enterprise
Combined Aruba + Juniper creates a full campus-to-data-center rival on NYSE.
- Extreme Networks
Campus-focused challenger in cloud-managed switching and Wi-Fi for enterprises.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Arista Networks | $195.38 | +0.01% | $246.02B | 61.6 | 42.0 | 23.3 | +37.7% |
| Cisco Systems | $109.95 | +0.01% | $433.28B | 33.0 | 21.4 | 6.8 | +17.6% |
| Nvidia | $217.88 | +0.15% | $5.27T | 27.5 | 19.6 | 17.4 | +105.9% |
| Hewlett Packard Enterprise | $52.56 | +0.50% | $69.26B | 49.8 | 13.4 | 1.8 | +40.0% |
| Extreme Networks | $22.50 | −0.37% | $2.95B | 73.1 | 17.2 | 2.3 | +10.3% |
| Median | 41.4 | 18.4 | 4.6 | +28.8% |