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Screener / SEC EDGAR /CIK 0001596532 /10-K filed Feb 17, 2026, compared with Feb 19, 2025 /Numbers from the XBRL of the 10-Ks
Technology peers:
PANWANETWDAYMSINXPISTX
NYSE Technology · Networking Equipment

Arista Networks ANET

ANET quote by TradingView

In a world where data is increasingly a precious commodity and competitive differentiator, Arista was founded to enable our customers to access all their centers of data in the quickest, most reliable, and secure manner. 10-K, Item 1

Employees
5,115
Headquarters
Santa Clara, CA
CEO
Jayshree Ullal
Next results
around Feb 11, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $9.0B through the costs to a net profit of $3.5B · income statement of the 10-K

43% operating margin
Revenue to Gross profit: $5.8BRevenue to Cost of revenue: $3.2BGross profit to Operating profit: $3.9BGross profit to Operating expenses: $1.9BOperating profit to Net profit: $3.1BOperating profit to Tax: $738.3MOther income to Net profit: $393.6MOperating expenses to R&D: $1.2BOperating expenses to Sales, admin & other: $675.3M Revenue: $9.0B REVENUE $9.0B +29% Y/Y Gross profit: $5.8B · 64% margin GROSS PROFIT $5.8B 64% margin · +28% Y/Y Cost of revenue: $3.2B · 36% of revenue COST OF REVENUE $3.2B 36% of revenue Operating profit: $3.9B · 43% margin OPERATING PROFIT $3.9B 43% margin · +31% Y/Y Other income: $393.6M · 4% of revenue OTHER INCOME $393.6M 4% of revenue Operating expenses: $1.9B · 21% of revenue OPERATING EXPENSES $1.9B 21% of revenue Net profit: $3.5B · 39% margin NET PROFIT $3.5B 39% margin · +23% Y/Y Tax: $738.3M · 8% of revenue TAX $738.3M 8% of revenue R&D: $1.2B · 14% of revenue R&D $1.2B 14% of revenue Sales, admin & other: $675.3M · 7% of revenue SALES, ADMIN & OTHER $675.3M 7% of revenue
Gross profit $5.8B 64% margin · +28% Y/Y
Operating profit $3.9B 43% margin · +31% Y/Y
Net profit $3.5B 39% margin · +23% Y/Y
The full income statement, year by year

ANET among Technology peers

Six ratios from the latest 10-K. Each corner is the share of 74 peers the company is above, not a score.

Compare
Revenue growth: 28.6%, above 85% of 74 peers (their median 14.0%) REVENUE GROWTH 28.6% · above 85% Gross margin: 62.9%, above 58% of 67 peers (their median 56.4%) GROSS MARGIN 62.9% · above 58% Operating margin: 43.8%, above 89% of 70 peers (their median 22.2%) OPERATING MARGIN 43.8% · above 89% Net margin: 40.0%, above 88% of 74 peers (their median 18.9%) NET MARGIN 40.0% · above 88% FCF margin: 42.2%, above 91% of 70 peers (their median 22.3%) FCF MARGIN 42.2% · above 91% Return on capital: 19.4%, above 77% of 61 peers (their median 12.6%) RETURN ON CAPITAL 19.4% · above 77%
ANET Peer median Below the median

What changed

26 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 17, 2026 against Feb 19, 2025.

Risk factors
26 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Receivables growing faster than revenue
Receivables +65.4% vs revenue +28.6% (+36.8 pts)
10-K · XBRL
Accounting checks
10 other checks clear, 1 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 10 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +65.4% vs revenue +28.6% (+36.8 pts)
  • Cash from operations $4.4B vs net income $3.5B (FY ending Dec 31, 2025)
9 more checks with nothing to note
  • Inventory +22.5% vs revenue +28.6% (-6.1 pts)
  • Same auditor in both 10-Ks: Ernst & Young LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • The same matters as last year: Inventory Valuation and Supplier Liabilities
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

26 paragraphs in Risk Factors that were not in the 10-K filed Feb 19, 2025. Quoted as filed.

All 26 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 19, 2025 10-K, ITEM 1A
    Our products are primarily manufactured in Malaysia, Vietnam, and Mexico, and we also procure a limited number of products originating from China, Taiwan, Thailand and the Philippines. In addition, our contract manufacturing partners procure some components from China for use in the manufacturing of our products. Because our products…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 19, 2025 10-K, ITEM 1A
    New and changing laws, regulations, executive orders, directives, and enforcement priorities can adversely affect the Company’s business by increasing the Company’s costs, limiting the Company’s ability to continuously navigate global supply chain options in lieu of optimizing tariff outcomes, offer a product or service to customers in…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 19, 2025 10-K, ITEM 1A
    We, or third parties on which we rely, could experience cybersecurity incidents relating to our information systems, or our products, services, or data, which could disrupt our operations or our ability to provide services, cause vulnerabilities or perceived vulnerabilities in our product, compromise intellectual property or other…
  4. Item 1A · new paragraph · not in the 10-K filed Feb 19, 2025 10-K, ITEM 1A
    The U.S. government also recently introduced regulations that require notification of or prohibit certain transactions by the Company with entities in China or with certain linkages to China. These regulations could apply to certain intracompany activities with our China and Hong Kong subsidiaries or other activities with entities in…

New risk paragraphs, against peers

Latest 10-K of each, Technology companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$4.4B$5.9B$7.0B$9.0B
Net income$1.4B$2.1B$2.9B$3.5B
Operating cash flow$492.8M$2.0B$3.7B$4.4B
Free cash flow$448.2M$2.0B$3.7B$4.3B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$9.0B ▲ 28.6% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Arista Networks, Santa Clara, CA · from the 10-K filed Feb 17, 2026

In a world where data is increasingly a precious commodity and competitive differentiator, Arista was founded to enable our customers to access all their centers of data in the quickest, most reliable, and secure manner. Over the last two decades, we have emerged as an industry leader, delivering data-driven, client-to-cloud networking-as-a-service. Our “Centers of Data” strategy is a fundamental pivot from legacy networking approaches that create incongruent silos to a unified, data-driven approach in which the network is a service that interconnects four primary domains: AI Centers, Data Centers, Campus Centers, and WAN Centers.

Headquarters
Santa Clara, CA
Country
United States
Listed on
NYSE
Fiscal year ends
December 31
Last results
Nov 3, 2026
Incorporated in
DE

Employees, at the top of the page: "As of December 31, 2025, Arista employed approximately 5,115 full-time employees worldwide" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Feb 17, 2026 (open at SEC), compared with the 10-K filed Feb 19, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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