Stock Analysis on Net
Stock Analysis on Net

Arista Networks Inc. (NYSE:ANET)

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Common-Size Balance Sheet: Assets
Quarterly Data

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Arista Networks Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Cash and cash equivalents
Marketable securities
Accounts receivable, net
Inventories
Prepaid expenses and other current assets
Current assets
Property and equipment, net
Goodwill
Deferred tax assets
Other assets
Long-term assets
Total assets

Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).

The asset structure is characterized by a high concentration of current assets, which consistently represent over 80% of the total asset base. This distribution indicates a highly liquid financial position with minimal reliance on fixed physical infrastructure.

Liquidity and Cash Management
A substantial portion of total assets is held in highly liquid instruments. Marketable securities fluctuate between a high of 50.68% in September 2021 and a low of 29.85% in September 2023, before recovering to 44.16% by December 2025. Cash and cash equivalents exhibit more volatility, peaking at 24.72% in September 2024. Combined, these two components often exceed 50% of the total asset mix, providing significant financial flexibility.
Operational Working Capital Trends
Inventories show a distinct cyclical pattern, increasing from approximately 10% in 2021 to a peak of 22.77% in June 2023. This suggests a period of significant stock accumulation, followed by a steady normalization trend that brings inventories back down to 10.99% by March 2026. Accounts receivable remain relatively stable, generally oscillating between 8% and 13% of total assets, indicating consistent credit management practices.
Non-Current Asset Composition
Long-term assets exhibit a gradual downward trend, decreasing from 18.20% in March 2021 to 14.31% by March 2026. Property and equipment represent a negligible fraction of the balance sheet, consistently remaining below 2%. Goodwill has also seen a steady decline from 3.85% to 1.92% over the analyzed period, while deferred tax assets have remained relatively stable, typically fluctuating between 7% and 11%.
Overall Asset Allocation Shift
The balance sheet demonstrates a transition toward increased current asset weight, rising from 81.80% to 85.69% by the end of the period. This shift is primarily driven by a recovery in marketable securities and a slight increase in prepaid expenses and other current assets, offsetting the reduction in long-term asset holdings.