Stock Analysis on Net
Stock Analysis on Net

Arista Networks Inc. (NYSE:ANET)

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Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Arista Networks Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Accounts payable
Accrued liabilities
Deferred revenue
Income taxes payable
Other current liabilities
Current liabilities
Deferred revenue, non-current
Other long-term liabilities
Long-term liabilities
Total liabilities
Preferred stock, $0.0001 par value; no shares issued and outstanding
Common stock, $0.0001 par value
Additional paid-in capital
Retained earnings
Accumulated other comprehensive income (loss)
Stockholders’ equity
Total liabilities and stockholders’ equity

Based on: 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).

Current Liabilities
Current liabilities as a percentage of total liabilities and stockholders' equity increased from 13.94% in March 2020 to a peak of 22.41% in March 2022, indicating a rising short-term obligation. Subsequently, they fluctuated slightly around the 19-21% range until March 2025, ending at 21.51%. This pattern suggests that the company experienced growing short-term liabilities through early 2022 with some stabilization thereafter.
Accounts Payable and Accrued Liabilities
Accounts payable showed moderate volatility, rising to a high of 4.72% in June 2022 before generally declining to around 2.68% by March 2025. Accrued liabilities followed a somewhat similar trajectory, peaking at 4.66% in March 2023 but then decreasing steadily to 1.81% by March 2025, indicating reduced outstanding obligations over the latest periods.
Deferred Revenue
Deferred revenue exhibited an upward trend overall. The current portion increased markedly from 8.08% in March 2020 to 14.28% by March 2025, showing an accumulation of payments received for services or goods to be delivered. The non-current deferred revenue rose more modestly from 6.44% to a peak of 7.58% in December 2024, then slightly declined to 7% in March 2025. This trend reflects increased advance customer payments, especially recorded as current liabilities.
Other Current Liabilities
These liabilities were variable, rising sharply to 5.17% in September 2023 before dropping back below 2% in early 2025. Such fluctuations may indicate episodic or project-related obligations rather than consistent recurring liabilities.
Long-term Liabilities
Long-term liabilities steadily contracted from 16.78% in March 2020 to 8.78% by March 2025. This decline, mirrored by the decrease in other long-term liabilities from 10.35% to 1.78%, suggests ongoing repayment or restructuring of long-term debts, potentially strengthening the company’s balance sheet stability over the period.
Total Liabilities
Total liabilities remained relatively stable, fluctuating between 27.42% and 32.01%, ending close to 30.28% in March 2025. The slight decline after peaking suggests an overall reduction in the company’s leverage relative to total financing sources.
Stockholders’ Equity
Stockholders’ equity maintained a dominant share of total liabilities and equity, ranging around 69% to 72%, with a modest increasing trend from 69.28% in March 2020 to a high of 74.52% in March 2024 before retreating to 69.72% by March 2025. This demonstrates strong and consistent equity funding with some variation likely reflecting retained earnings and capital changes.
Additional Paid-in Capital and Retained Earnings
Additional paid-in capital decreased notably from 27.95% in March 2020 to 17.58% by March 2025, indicating either share repurchases, amortization, or other equity transactions reducing this component. Conversely, retained earnings increased steadily from 41.31% to a peak of 53.92% in June 2024 before slightly declining to 52.15% in March 2025, showing accumulated profits bolstering equity over time.
Accumulated Other Comprehensive Income (Loss)
This component has remained near zero with some minor negative fluctuations and a few positive blips, suggesting minimal impact on equity from unrealized gains or losses in other comprehensive income categories.
Income Taxes Payable
Income taxes payable appeared in the most recent quarters, reaching 1.72% by June 2024, suggesting the recognition of tax liabilities that were previously not reported or were minimal.