Common-Size Balance Sheet: Assets
Quarterly Data
Arista Networks Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets fluctuated notably over the periods. Starting at 18.52% in Q1 2020, it experienced a decline reaching a low near 8.47% in mid-2022, before increasing steadily to peak at 24.72% in Q3 2024. The last two quarters show a decrease again to around 13%, indicating some volatility in liquidity levels.
- Marketable Securities
- This category showed a downward trend overall from 45.62% in Q1 2020 to lows around 29.85% to 30.86% during 2023. However, from Q4 2024 onwards, marketable securities increased sharply again up to 43.44% in Q2 2025, suggesting a repositioning toward more liquid investment holdings in recent periods.
- Accounts Receivable, Net
- The share of accounts receivable generally ranged between approximately 6.8% and 13.6%, with noticeable volatility. It peaked in Q4 2022 at 13.62% before declining to about 8.8% by Q3 2024, then stabilizing close to 9.8% toward Q2 2025. The fluctuations suggest varying credit exposure and collection efficiency over time.
- Inventories
- Inventories as a percentage of total assets saw an overall increase from 6.37% in early 2020 to a high of 22.77% in Q2 2023. This was followed by a gradual decline through 2024, settling around 12.45% by Q4 2025. This pattern reflects a build-up of inventory until mid-2023, after which inventory management or sales efficiency likely improved to reduce stock levels.
- Prepaid Expenses and Other Current Assets
- There was a general upward trend in prepaid expenses and other current assets, increasing from about 2.09% in Q1 2020 to roughly 5.91% by Q2 2025, with some fluctuations. This gradual rise may indicate growing advances or payments for future services or benefits within current assets.
- Current Assets
- Current assets as a proportion of total assets remained relatively stable, hovering consistently in the 80% to 85% range throughout the period. Minor increases toward 84% occurred in late 2023 and early 2024, indicating a steady liquidity profile dominated by current assets.
- Property and Equipment, Net
- Property and equipment stayed consistently low, generally below 1.5%, with a slight decline after peaking at 1.58% in mid-2022, further reducing to under 1% by late 2024, and a small uptick at the end of the observed periods. This indicates minimal capital investment in physical assets relative to total assets.
- Goodwill
- Goodwill relative to total assets declined steadily from 2.06% in Q1 2020 to a trough around 1.85% in Q2 2025, after an earlier peak of 4.7% in Q2 2022. The trend suggests limited recent acquisitions or impairments reducing intangible asset value over time.
- Deferred Tax Assets
- Deferred tax assets showed a mild downward trend from 10.91% in early 2020 to about 7.31% in Q1 2022, followed by a gradual increase, reaching approximately 10.9% by mid-2025. This pattern may reflect changes in tax positions and timing differences affecting deferred taxes.
- Other Assets
- The share of other assets exhibited a decreasing trend from 4.96% to a low near 2.08% during 2024, with a spike back up to 3.99% in Q2 2025. The irregular pattern indicates variability in miscellaneous non-current asset holdings.
- Long-Term Assets
- Long-term assets fluctuated between approximately 15.19% and 19.03%, with generally elevated levels in early 2020 and mid-2022, followed by a moderate decline to ~15.3% in 2024 before increasing again to 18.33% by Q2 2025. This suggests a relatively stable but slightly variable base of longer-term capital or investments.
- Total Assets
- Total assets represent the entirety of the portfolio and are normalized at 100% throughout the periods, serving as the baseline for proportionate analysis of asset composition trends described above.