Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.13B | $1.65B | $2.15B | $2.41B | $2.32B | $2.95B | $4.38B | $5.86B | $7.00B | $9.01B |
| Revenue growth | — | 45.8% | 30.7% | 12.1% | -3.9% | 27.2% | 48.6% | 33.8% | 19.5% | 28.6% |
| Gross profit | $723M | $1.06B | $1.37B | $1.54B | $1.48B | $1.88B | $2.68B | $3.63B | $4.49B | $5.77B |
| Gross margin | 64.0% | 64.5% | 63.8% | 64.1% | 63.9% | 63.8% | 61.1% | 61.9% | 64.1% | 64.1% |
| Operating income | $243M | $470M | $273M | $806M | $700M | $925M | $1.53B | $2.26B | $2.94B | $3.86B |
| Operating margin | 21.6% | 28.6% | 12.7% | 33.4% | 30.2% | 31.4% | 34.9% | 38.5% | 42.0% | 42.8% |
| Net income | $184M | $423M | $328M | $860M | $635M | $841M | $1.35B | $2.09B | $2.85B | $3.51B |
| Net margin | 16.3% | 25.7% | 15.3% | 35.7% | 27.4% | 28.5% | 30.9% | 35.6% | 40.7% | 39.0% |
| EPS (diluted) | $2.50 | $5.35 | $4.06 | $2.66 | $2.00 | $2.63 | $1.07 | $1.65 | $2.23 | $2.75 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $174M | $632M | $503M | $963M | $735M | $1.02B | $493M | $2.03B | $3.71B | $4.37B |
| Capital expenditures | $21.4M | $15.3M | $23.8M | $15.8M | $15.4M | $64.7M | $44.6M | $34.4M | $32.0M | $120M |
| Free cash flow | $153M | $616M | $479M | $947M | $720M | $951M | $448M | $2.00B | $3.68B | $4.25B |
| Share buybacks | — | $0.00 | $0.00 | $266M | $395M | $412M | $670M | $112M | $424M | $1.60B |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $568M | $859M | $650M | $1.11B | $893M | $621M | $672M | $1.94B | $2.76B | $1.96B |
| Total assets | $1.73B | $2.46B | $3.08B | $4.19B | $4.74B | $5.73B | $6.78B | $9.96B | $14.0B | $19.4B |
| Total liabilities | $621M | $799M | $939M | $1.29B | $1.42B | $1.76B | $1.89B | $2.74B | $4.05B | $7.08B |
| Shareholders' equity | $1.11B | $1.66B | $2.14B | $2.89B | $3.32B | $3.98B | $4.89B | $7.22B | $9.99B | $12.4B |
| Retained earnings | $435M | $859M | $1.19B | $1.79B | $2.03B | $2.46B | $3.14B | $5.11B | $7.54B | $9.45B |
| Shares (wtd avg diluted) | 73.2M | 79.0M | 80.8M | 324M | 318M | 319M | 1.27B | 1.27B | 1.28B | 1.28B |
Every figure is extracted from Arista Networks, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.