Stock Analysis on Net
Stock Analysis on Net

Arista Networks Inc. (NYSE:ANET)

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Common-Size Balance Sheet: Assets

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Arista Networks Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Cash and cash equivalents
Marketable securities
Accounts receivable, net
Inventories
Prepaid expenses and other current assets
Current assets
Property and equipment, net
Goodwill and acquisition-related intangible assets, net
Deferred tax assets
Other assets
Long-term assets
Total assets

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets decreased notably from 18.85% in 2020 to a low of 9.91% in 2022. However, it rebounded significantly in the subsequent years, reaching around 19.67% by 2024, nearing the initial 2020 level. This indicates a fluctuation with a return to a strong liquidity position in the latest period.
Marketable Securities
The share of marketable securities as a percentage of total assets increased from 41.77% in 2020 to a peak of 48.61% in 2021, followed by a decline to 30.86% in 2023. In 2024, this figure rose again to 39.46%. This pattern suggests active management of investment securities, with a notable reduction in 2022-2023 and partial recovery thereafter.
Accounts Receivable, Net
Accounts receivable relative to total assets displayed a rising trend from 8.22% in 2020, peaking at 13.62% in 2022, before declining to 8.12% by 2024. This indicates an increase in sales on credit or collection period in the mid-period, followed by improved receivables management or a reduction in credit sales later.
Inventories
Inventories as a percentage of total assets demonstrated a significant increase from 10.12% in 2020 to a peak of 19.56% in 2023, before dropping to 13.06% in 2024. This suggests stock accumulation in 2022-2023 and a subsequent reduction, possibly reflecting changes in inventory strategy or demand fluctuations.
Prepaid Expenses and Other Current Assets
These assets showed a general upward trend from 2.00% in 2020 to 4.50% in 2024, indicating gradual increases in prepaid costs or other current asset components over the period.
Current Assets
The percentage of current assets relative to total assets remained relatively high and stable, fluctuating narrowly between 80.97% and 84.81% across the five years. This signals a consistently strong emphasis on liquidity and short-term asset holdings.
Property and Equipment, Net
There was a slight increase from 0.68% in 2020 to 1.40% in 2022, followed by a decline to 0.70% in 2024. This indicates limited capital expenditure with some reduction in fixed asset base towards the end of the period.
Goodwill and Acquisition-Related Intangible Assets, Net
The ratio of goodwill and intangible assets decreased steadily from 6.59% in 2020 to 2.35% in 2024. This suggests a reduction in acquisition-related assets, possibly due to amortization, impairment, or divestitures.
Deferred Tax Assets
Deferred tax assets as a percentage of total assets declined from 9.32% in 2020 to 7.71% in 2021, then increased to 10.26% by 2024. This reflects variability in tax-related assets possibly tied to changes in tax positions or timing differences in recognizing income and expenses.
Other Assets
Other assets maintained a relatively low and stable level, ranging between 1.53% and 2.46%. This indicates that these components have a minor and steady role in the asset composition.
Long-Term Assets
The proportion of long-term assets exhibited a decreasing trend from 19.03% in 2020 to 15.19% in 2024. This decline points to a gradual reduction in non-current asset holdings relative to the overall asset base.
Total Assets
Total assets, expressed as 100% for each period, provide the baseline for the relative distributions discussed.