Stock Analysis on Net
Stock Analysis on Net

Arista Networks Inc. (NYSE:ANET)

Common-Size Income Statement
Quarterly Data

Arista Networks Inc., common-size consolidated income statement (quarterly data)

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3 months ended: 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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Product 85.06 85.17 86.47 86.73 85.99 85.71 84.21 82.63 81.02 80.69 80.09 80.76 79.92 79.32 77.96 78.56 80.99 84.82 84.36 84.88
Service 14.94 14.83 13.53 13.27 14.01 14.29 15.79 17.37 18.98 19.31 19.91 19.24 20.08 20.68 22.04 21.44 19.01 15.18 15.64 15.12
Revenue 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Product -32.19 -34.64 -36.58 -37.66 -36.97 -36.76 -35.71 -33.50 -32.85 -32.50 -31.92 -32.72 -32.45 -32.95 -32.64 -31.28 -31.76 -33.35 -32.97 -33.28
Service -2.95 -2.93 -2.82 -2.81 -2.77 -2.91 -3.14 -3.35 -3.75 -3.57 -3.87 -3.57 -3.62 -3.47 -3.71 -4.04 -3.76 -2.89 -2.89 -2.81
Cost of revenue -35.13% -37.57% -39.40% -40.47% -39.74% -39.67% -38.85% -36.85% -36.60% -36.07% -35.79% -36.29% -36.07% -36.42% -36.35% -35.33% -35.52% -36.24% -35.86% -36.08%
Gross profit 64.87% 62.43% 60.60% 59.53% 60.26% 60.33% 61.15% 63.15% 63.40% 63.93% 64.21% 63.71% 63.93% 63.58% 63.65% 64.67% 64.48% 63.76% 64.14% 63.92%
Research and development -13.73 -14.07 -15.74 -14.90 -14.93 -15.96 -16.94 -19.61 -19.15 -20.45 -20.26 -19.85 -20.64 -21.15 -20.63 -21.63 -19.92 -18.14 -18.79 -20.10
Sales and marketing -6.85 -6.76 -6.72 -6.92 -6.70 -6.92 -7.55 -9.21 -9.07 -9.31 -9.98 -10.64 -10.44 -8.82 -9.48 -10.91 -9.87 -8.45 -8.72 -8.57
General and administrative -2.75 -1.68 -1.81 -1.85 -1.87 -1.99 -2.18 -2.64 -2.94 -3.00 -2.95 -2.32 -2.84 -2.50 -2.65 -3.51 -2.84 -2.24 -2.63 -2.60
Operating expenses -23.33% -22.51% -24.27% -23.67% -23.49% -24.87% -26.66% -31.45% -31.16% -32.77% -33.20% -32.80% -33.92% -32.47% -32.76% -36.06% -32.63% -28.83% -30.14% -31.28%
Income from operations 41.54% 39.93% 36.33% 35.86% 36.76% 35.46% 34.50% 31.70% 32.24% 31.16% 31.01% 30.90% 30.01% 31.12% 30.89% 28.61% 31.85% 34.93% 34.00% 32.64%
Other income (expense), net 3.54 2.77 3.86 0.90 1.33 0.58 -0.05 3.59 0.18 0.18 0.24 0.24 0.85 2.18 1.53 2.32 2.02 2.93 2.27 2.07
Income before income taxes 45.08% 42.70% 40.19% 36.76% 38.09% 36.04% 34.44% 35.28% 32.42% 31.34% 31.26% 31.14% 30.87% 33.30% 32.42% 30.94% 33.87% 37.86% 36.27% 34.71%
Provision for income taxes -5.24 -6.57 -6.48 -4.46 -4.61 -5.96 -6.01 -4.24 -3.40 -1.38 -3.42 -4.12 -2.66 -5.49 -5.63 -4.47 13.31 -5.94 -5.16 -0.95
Net income 39.84% 36.13% 33.72% 32.30% 33.48% 30.08% 28.43% 31.04% 29.02% 29.96% 27.84% 27.02% 28.21% 27.81% 26.79% 26.47% 47.18% 31.92% 31.11% 33.76%

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Income statement item Description The company
Income from operations The net result for the period of deducting operating expenses from operating revenues. Arista Networks Inc. income from operations as a percentage of revenue increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Arista Networks Inc. income before income taxes as a percentage of revenue increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Arista Networks Inc. net income as a percentage of revenue increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.