Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Net Profit Margin since 2014
- Return on Equity (ROE) since 2014
- Debt to Equity since 2014
- Aggregate Accruals
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Arista Networks Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (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 financial structure exhibits a gradual shift in the composition of liabilities and stockholders' equity over the analyzed period. While the entity maintains a strong equity-based capital structure, there is a noticeable increase in the relative weight of current liabilities, particularly toward the end of the observed timeframe.
- Current Liabilities and Deferred Revenue
- Current liabilities as a percentage of total liabilities and stockholders' equity remained relatively stable between 16% and 22% from March 2021 through December 2023. However, a significant upward trend emerged starting in March 2024, with the ratio climbing to 30.29% by March 2026. This increase is primarily driven by a substantial rise in deferred revenue, which grew from 9.35% in March 2021 to 22.67% by March 2026. This pattern suggests a growing volume of prepaid obligations or subscription-based contracts, indicating an expansion in future revenue recognition.
- Long-term Liabilities
- A consistent downward trend is observed in other long-term liabilities, which decreased from 8.04% in March 2021 to 1.48% by March 2026. Total long-term liabilities showed a general contraction over the period, moving from 13.40% to 7.43%, indicating a reduction in long-term debt or other non-current obligations relative to the total balance sheet size.
- Total Liabilities Trend
- Total liabilities remained remarkably consistent, fluctuating between 25% and 32% for the majority of the period. A pivot occurred in 2024, where total liabilities began to rise, reaching 37.72% by March 2026. This shift is not reflective of an increase in traditional debt, but rather the aforementioned growth in current deferred revenue.
- Stockholders' Equity and Retained Earnings
- Stockholders' equity, while remaining the dominant component of the balance sheet, experienced a gradual decline from a peak of 74.52% in March 2023 to 62.28% by March 2026. Retained earnings showed initial growth, rising from 43.05% in March 2021 to a peak of 53.92% in March 2023, before stabilizing and slightly declining to 48.35% by March 2026. Concurrently, additional paid-in capital saw a steady and significant decline from 27.50% to 14.02% over the entire period.
Overall, the capital structure demonstrates a transition where equity is becoming a smaller portion of the total balance sheet, offset by an increase in operational liabilities. The growth in deferred revenue suggests strong commercial momentum and a shift in the business model toward more upfront payment structures, while the reduction in long-term liabilities indicates a lean approach to long-term financing.