Balance Sheet: Liabilities and Stockholders’ Equity
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.
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. pages available for free this week:
- Income Statement
- Cash Flow Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Selected Financial Data since 2014
- Operating Profit Margin since 2014
- Total Asset Turnover since 2014
- Price to Sales (P/S) since 2014
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Arista Networks Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in thousands
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).
The quarterly financial data exhibit several notable trends in liabilities, equity, and overall financial position. The analysis focuses on key liability categories, stockholders' equity developments, and the aggregate total liabilities and equity from the earliest to the most recent quarters.
- Accounts Payable
- This liability showed an overall upward trajectory with fluctuations. Starting at approximately $84,815 thousand in March 2020, it surged significantly during late 2021 and through 2023, peaking near $435,000 thousand in December 2023, with somewhat smaller fluctuations in early 2024, ending at around $389,100 thousand by March 2025. This suggests increasing short-term obligations to suppliers and vendors in recent periods.
- Accrued Liabilities
- The accrued liabilities consistently grew from $100,443 thousand in March 2020 to a notable peak of over $435,000 thousand by March 2025. Growth was steady with punctuated increases in late 2021 and from 2022 onward, reflecting a rise in expenses incurred but not yet paid.
- Deferred Revenue (Current and Non-current)
- Current deferred revenue increased markedly from $332,175 thousand in March 2020 to over $2,072,700 thousand by March 2025, demonstrating strong growth in unearned revenue, possibly indicating customer prepayments or contractually obligated future service deliveries. Non-current deferred revenue also expanded from about $264,600 thousand to just over $1,016,100 thousand during the same timeframe, reinforcing a longer-term backlog of recognized but not yet realized revenue.
- Other Current Liabilities
- These fluctuated considerably, with spikes in December 2023 ($469,007 thousand) and other periodic peaks and declines, ending at $147,600 thousand in March 2025. This variability suggests possible episodic or timing-related obligations outside typical payables and accruals.
- Current Liabilities
- Current liabilities rose substantially from $573,007 thousand in March 2020 to over $3,121,600 thousand by March 2025, following the upward trend in payables, accrued liabilities, and deferred revenue components, indicating expanding short-term obligations overall.
- Long-term Liabilities and Other Long-term Liabilities
- Long-term liabilities were generally stable through 2021 but rose significantly after, reaching a peak of approximately $1,317,900 thousand in March 2025. Other long-term liabilities decreased from early 2020 levels and then showed moderate growth, finishing near $257,800 thousand. The increase in total long-term liabilities signals growing debt or obligations due beyond one year.
- Total Liabilities
- Total liabilities followed a clear upward trend from roughly $1,263,019 thousand in March 2020 to an elevated figure of approximately $4,395,500 thousand by March 2025, reflecting considerable expansion in both current and long-term liabilities.
- Stockholders' Equity
- Equity exhibited steady growth from about $2,848,826 thousand in March 2020 to surpass $10,119,100 thousand by March 2025. This substantial increase indicates strong retained earnings growth, supported by additional paid-in capital which also rose consistently over the period. However, accumulated other comprehensive income (loss) experienced variability, with significant negative swings in some quarters, indicating fluctuations in items like foreign currency translation adjustments or unrealized gains/losses.
- Total Liabilities and Stockholders’ Equity
- The total financing structure of the company, represented by the sum of total liabilities and equity, expanded from approximately $4,111,845 thousand in March 2020 to about $14,514,600 thousand by March 2025, illustrating the overall growth in the company's balance sheet size over the five-year period.
In summary, the data reveals a considerable increase in liabilities, especially deferred revenue and current liabilities, indicative of higher operational scale and contractual obligations. Concurrently, solid growth in equity reflects successful retention of earnings and capital infusion, underpinning a strong expansion in the company’s financial base. The incremental rise in long-term liabilities points to increased leverage or long-term financing to support growth initiatives. Variability in other current and comprehensive income components warrants further examination for potential risks or gains related to non-operational factors.