Arista Networks Inc. (NYSE:ANET)

The financial data indicates several notable trends over the reported periods. The non-current finance lease liabilities have shown a consistent decline from 2014 through 2018. Specifically, these liabilities decreased from US$42,547 thousand in 2014 to US$35,431 thousand in 2018. This steady reduction suggests a deliberate effort to reduce long-term lease obligations during these years, which could imply either the repayment or renegotiation of leases or a strategic shift away from lease-dependent capital structures.

Stockholders' equity exhibits a robust upward trend throughout the entire timeline, increasing almost continuously year over year. Starting at US$555,658 thousand in 2014, the equity value has expanded significantly to US$9,994,807 thousand by 2024. This marked increase reflects a strong growth in the company's net assets, potentially driven by retained earnings, capital contributions, or comprehensive income gains. The consistent growth in equity reflects positively on the company’s financial strength and investor confidence over the period.

The debt to equity ratio, reported only from 2014 to 2018, demonstrates a declining trend from 0.08 in 2014 to 0.02 by 2018. This decrease aligns with the reduction seen in finance lease liabilities and indicates a progressively lower reliance on debt financing relative to equity. Such a trend points towards improved financial leverage management and possibly a prudent approach to balance sheet risk, enhancing the company's solvency profile.

Overall, the financial data portrays a company that is strengthening its equity base while reducing debt components, at least up to 2018. The absence of further data on liabilities and debt to equity ratios beyond 2018 restricts a complete leverage analysis for subsequent years but the significant rise in equity through 2024 is indicative of sustained value accumulation.