Common-Size Balance Sheet: Assets
Quarterly Data
Arista Networks Inc., common-size consolidated balance sheet: assets (quarterly data)
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.
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