Arista Networks Inc. (NYSE:ANET)

The analysis of the financial data reveals several notable trends in the share price and operating profit per share of the company, as well as in the price-to-operating-profit (P/OP) ratio over the years.

Share Price

The share price exhibited a consistent upward trajectory from 2015 to 2025. It started at $4.31 in March 2015, experienced moderate increases with some fluctuations through 2019, and surged significantly after 2020. The price escalated from $19.44 in February 2021 to $103.92 in February 2025, indicating strong market confidence and possibly improved company performance or favorable market conditions.

Operating Profit per Share

Operating profit per share showed overall growth with periods of volatility. Beginning at $0.12 in 2015, it increased steadily to $0.4 by 2018, then experienced a dip to $0.23 in 2019. Afterward, from 2020 onward, there was a marked upward trend, reaching $2.33 by 2025. This suggests an improvement in operational efficiency or profitability in recent years despite earlier fluctuations.

Price to Operating Profit Ratio (P/OP)

The P/OP ratio demonstrated considerable variability. It started at a high level of 36.4 in 2015, dropped slightly and fluctuated around the 30s and 40s range with peaks noted in 2018 (39.21) and especially in 2019 (73.14). The sharp increase in 2019 indicates a period when the share price was high relative to operating profit, possibly reflecting market expectations beyond current profitability. From 2020 onwards, the ratio remained variable, generally oscillating between the low 20s and mid-40s, indicating periods where share price and operating profit perception were not always aligned proportionally.

In summary, the company’s share price and operating profit per share have increased significantly over the examined period, reflecting stronger financial performance and market valuation. The fluctuating P/OP ratio points to changing investor sentiment and market conditions relative to operational profitability. The strong rise in operating profit per share in recent years combined with a rising share price suggests growing confidence in sustained company earnings growth.