Stock Analysis on Net
Stock Analysis on Net

Arista Networks Inc. (NYSE:ANET)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Arista Networks Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Accounts payable
Accrued compensation-related costs
Supplier liability
Accrued manufacturing costs
Other
Accrued liabilities
Deferred revenue
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-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Overall, the financial position of the company demonstrates significant growth in both liabilities and stockholders’ equity over the five-year period. A notable acceleration in growth is observed from 2022 onwards, particularly in deferred revenue and retained earnings. This suggests increasing business activity and profitability.

Current Liabilities
Current liabilities increased substantially throughout the period, rising from US$768.243 million in 2020 to US$2,732.222 million in 2024. Accounts payable and accrued liabilities exhibited consistent increases, with a particularly large jump in accounts payable in 2023. Supplier liability also showed significant growth between 2021 and 2023, before decreasing in 2024. Deferred revenue within current liabilities experienced the most dramatic increase, more than quadrupling from 2020 to 2024, indicating a growing backlog of contracted revenue. Accrued manufacturing costs also increased significantly in 2024.
Long-Term Liabilities
Long-term liabilities also increased over the period, though at a slower pace than current liabilities until 2023. From 2023 to 2024, long-term liabilities experienced a substantial increase, driven primarily by deferred revenue, non-current. Other long-term liabilities remained relatively stable, with a slight increase in 2024. The overall increase in long-term liabilities suggests a reliance on longer-term financing or an increase in obligations with maturities beyond one year.
Stockholders’ Equity
Stockholders’ equity demonstrated consistent and substantial growth, increasing from US$3,320.291 million in 2020 to US$9,994.807 million in 2024. Retained earnings were the primary driver of this growth, increasing significantly each year, reflecting strong profitability. Additional paid-in capital also increased steadily, indicating equity raises or stock-based compensation. Accumulated other comprehensive income (loss) was negative and decreased in magnitude over the period, having a minor offsetting effect on overall equity growth. Common stock remained relatively stable until 2024, when it increased significantly.
Total Liabilities
Total liabilities increased from US$1,418.628 million in 2020 to US$4,049.114 million in 2024. The most significant increase occurred between 2022 and 2024, coinciding with the rapid growth in deferred revenue. This indicates a growing reliance on both short-term and long-term obligations to finance operations and expansion.
Total Liabilities and Stockholders’ Equity
The combined value of total liabilities and stockholders’ equity grew from US$4,738.919 million in 2020 to US$14,043.921 million in 2024. This substantial increase reflects the overall expansion of the company’s financial size and scale. The growth rate accelerated in the later years of the period, suggesting a period of rapid growth and investment.

In summary, the company experienced significant financial growth, characterized by increasing liabilities and a substantial expansion of stockholders’ equity. The growth in deferred revenue is particularly noteworthy, suggesting strong future revenue potential. The increasing reliance on liabilities warrants continued monitoring to ensure sustainable financial health.