Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Arista Networks Inc., consolidated balance sheet: assets (quarterly data)
US$ in thousands
Based on: 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 company’s total assets exhibited a generally increasing trend over the period from March 31, 2021, to December 31, 2025. While fluctuations occurred, particularly in the short term, the overall trajectory indicates growth in the company’s resource base. A significant acceleration in asset growth is observed from March 2024 onwards.
- Cash and Cash Equivalents
- Cash and cash equivalents demonstrated considerable volatility. After peaking at US$893,688 thousand in June 2021, a decline was observed, reaching a low of US$620,813 thousand in December 2021. Subsequently, cash levels increased substantially, peaking at US$2,429,031 thousand in June 2024, before decreasing to US$1,963,900 thousand by December 2025. This suggests active cash management, potentially related to investment activities or operational needs.
- Marketable Securities
- Marketable securities consistently represented a substantial portion of the company’s assets. The balance generally increased over the observed period, starting at US$2,184,330 thousand in March 2021 and reaching US$8,779,100 thousand by December 2025. This indicates a strategic shift towards holding more liquid investments, or a significant increase in investment capital. The most substantial increase occurred between September 2024 and December 2025.
- Accounts Receivable, Net
- Accounts receivable exhibited an upward trend, although not consistently. Beginning at US$380,466 thousand in March 2021, it increased to US$1,886,900 thousand by December 2025. There were periods of fluctuation, notably a rise from September 2021 to December 2022, and continued growth throughout 2023 and 2024. This suggests increasing sales on credit, or potentially lengthening collection periods.
- Inventories
- Inventory levels generally increased throughout the period, starting at US$483,168 thousand in March 2021 and rising to US$2,247,100 thousand by December 2025. The most significant increases occurred between June 2022 and December 2023. This could indicate increased production to meet growing demand, or a build-up of inventory due to slower sales.
- Prepaid Expenses and Other Current Assets
- Prepaid expenses and other current assets showed an overall increasing trend, though with some variability. Starting at US$111,595 thousand in March 2021, the balance rose to US$1,510,000 thousand by December 2025. A particularly large increase is observed from March 2024 to December 2025, suggesting a significant investment in future benefits or a change in accounting practices.
- Long-Term Assets
- Long-term assets, encompassing property and equipment, goodwill, deferred tax assets, and other assets, also demonstrated an increasing trend. While property and equipment remained relatively stable, goodwill and deferred tax assets experienced notable growth, particularly from 2022 onwards. The overall increase in long-term assets contributed significantly to the growth in total assets, especially in the later periods. Goodwill experienced a substantial increase from September 2024 to June 2025.
In summary, the asset base expanded considerably over the analyzed period. The most significant growth drivers were marketable securities, accounts receivable, inventories, and prepaid expenses. The company appears to be actively managing its cash position and investing in both short-term and long-term assets, potentially in anticipation of future growth or to capitalize on investment opportunities.