Stock Analysis on Net

Arista Networks Inc. (NYSE:ANET)

$24.99

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Microsoft Excel

Paying user area

The data is hidden behind: . Unhide it.

This is a one-time payment. There is no automatic renewal.


We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Long-term Activity Ratios (Summary)

Arista Networks Inc., long-term (investment) activity ratios (quarterly data)

Microsoft Excel
Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Net fixed asset turnover
Total asset turnover
Equity turnover

Based on: 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), 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 analysis of the quarterly financial ratios over the examined periods reveals several key trends in asset and equity efficiency.

Net Fixed Asset Turnover
This ratio shows a notable improvement starting from the first available data point. Initially recorded at 71.9, the ratio increased steadily, reaching a peak of 71.08 in the quarter ending September 2024. However, after this peak, a declining trend is observed, with the ratio decreasing to 52.21 by June 2025. Overall, despite the late decline, the long-term movement indicates an enhancement in the company's ability to generate sales from its net fixed assets over most of the period.
Total Asset Turnover
The total asset turnover ratio exhibits a gradual increase from 0.49 in March 2020 to a peak of 0.65 in March 2023. This suggests improved efficiency in utilizing total assets to generate revenue. Subsequent periods show a gradual decline, falling to 0.48 by June 2025. This pattern indicates that while asset use efficiency improved over the earlier periods, it weakened slightly in the later stages.
Equity Turnover
Equity turnover has generally trended upwards from 0.7 in March 2020, peaking at 0.9 between September 2021 and March 2023. Following this period, the ratio gradually declined to 0.73 by June 2025. The initial rise reflects an enhanced capacity to generate revenues from shareholders’ equity, while the recent decline may suggest some moderation in this efficiency.

In summary, the company demonstrated strengthening efficiency in the utilization of fixed assets, total assets, and equity over the initial phases of the analyzed timeframe. However, across all three ratios, a slight reversal in these positive trends is evident towards the end of the period, indicating a potential area for further operational review.


Net Fixed Asset Turnover

Arista Networks Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel
Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in thousands)
Revenue
Property and equipment, net
Long-term Activity Ratio
Net fixed asset turnover1
Benchmarks
Net Fixed Asset Turnover, Competitors2
Apple Inc.
Cisco Systems Inc.
Dell Technologies Inc.
Super Micro Computer Inc.

Based on: 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), 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).

1 Q2 2025 Calculation
Net fixed asset turnover = (RevenueQ2 2025 + RevenueQ1 2025 + RevenueQ4 2024 + RevenueQ3 2024) ÷ Property and equipment, net
= ( + + + ) ÷ =

2 Click competitor name to see calculations.


The quarterly financial data displays notable trends in key financial metrics over the analyzed periods.

Revenue
Revenue shows a consistent upward trend throughout the periods. Starting from $523,029 thousand in March 2020, it increases steadily each quarter, reaching $2,204,800 thousand by June 2025. This represents substantial growth over the analyzed timeframe, indicating a strong and expanding sales performance.
Property and Equipment, Net
The net value of property and equipment initially declines from $37,806 thousand in March 2020 to a low near $32,231 thousand by December 2020. Subsequently, a significant increase occurs during mid-2021, peaking around $101,705 thousand by June 2023 and fluctuating thereafter. The last two quarters show further growth, reaching $152,300 thousand by June 2025, reflecting substantial capital investment or asset acquisition activities in later periods.
Net Fixed Asset Turnover Ratio
The turnover ratio is provided from December 2020 onward and exhibits a generally positive trend until early 2023. Starting from a ratio of approximately 71.9, the ratio decreases markedly to around 36.13 by September 2021, then gradually improves to a peak of 71.08 by March 2025. After this peak, a reduction is observed toward the final period, falling to 52.21 by June 2025. The fluctuations suggest changes in how effectively the company's net fixed assets are generating revenue, potentially impacted by the simultaneous increases in property and equipment.

Overall, the data reflects strong revenue growth accompanied by significant capital investment in property and equipment. The net fixed asset turnover ratio's initial decline followed by recovery indicates adjustments in asset utilization efficiency against the backdrop of expanding asset bases. These patterns suggest strategic expansion and active asset management during the analyzed periods.


Total Asset Turnover

Arista Networks Inc., total asset turnover calculation (quarterly data)

Microsoft Excel
Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in thousands)
Revenue
Total assets
Long-term Activity Ratio
Total asset turnover1
Benchmarks
Total Asset Turnover, Competitors2
Apple Inc.
Cisco Systems Inc.
Dell Technologies Inc.
Super Micro Computer Inc.

Based on: 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), 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).

1 Q2 2025 Calculation
Total asset turnover = (RevenueQ2 2025 + RevenueQ1 2025 + RevenueQ4 2024 + RevenueQ3 2024) ÷ Total assets
= ( + + + ) ÷ =

2 Click competitor name to see calculations.


The financial data reveals several key trends in the company's performance over the observed periods.

Revenue
The revenue demonstrates a consistent upward trajectory from March 31, 2020, through June 30, 2025. Initial revenue was approximately $523 million and steadily increased to $2.2 billion by mid-2025. Notable milestones include surpassing $1 billion in the second quarter of 2022 and maintaining robust growth thereafter. This indicates sustained demand and effective sales expansion over the span analyzed.
Total Assets
Total assets also show a general growth trend across the same timeframe, rising from about $4.1 billion at the end of Q1 2020 to approximately $16.5 billion by mid-2025. While there are periods of fluctuation, such as a slight dip between March and June 2022, assets consistently increased, reflecting ongoing investments and possible acquisitions or accumulated capital.
Total Asset Turnover
The total asset turnover ratio, available from September 2020 onward, illustrates the efficiency with which the company employs its assets to generate revenue. Initially measured at 0.49, it increased progressively to peak around 0.65 in late 2022 and early 2023, suggesting improved asset utilization during that period. However, following this peak, the ratio shows a declining trend, falling to 0.48 by June 2025. This decline could imply that asset growth is outpacing revenue expansion in later periods, potentially signaling reduced operational efficiency or a strategic shift towards asset accumulation.

In summary, the company exhibits strong revenue growth coupled with rising asset levels. Efficiency in asset usage improved initially but has moderated recently, which may warrant further analysis to understand the underlying causes and future implications.


Equity Turnover

Arista Networks Inc., equity turnover calculation (quarterly data)

Microsoft Excel
Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in thousands)
Revenue
Stockholders’ equity
Long-term Activity Ratio
Equity turnover1
Benchmarks
Equity Turnover, Competitors2
Apple Inc.
Cisco Systems Inc.
Dell Technologies Inc.
Super Micro Computer Inc.

Based on: 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), 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).

1 Q2 2025 Calculation
Equity turnover = (RevenueQ2 2025 + RevenueQ1 2025 + RevenueQ4 2024 + RevenueQ3 2024) ÷ Stockholders’ equity
= ( + + + ) ÷ =

2 Click competitor name to see calculations.


The quarterly financial data reveals an overall positive trend in revenue, showing consistent growth across the periods analyzed. Starting at approximately 523 million US dollars in March 2020, revenue increased steadily to reach over 2.2 billion US dollars by June 2025. This progression indicates a strong upward trajectory in the company's operational performance and sales achievements.

Stockholders’ equity also exhibits a general increase over the same period. Beginning near 2.85 billion US dollars in March 2020, equity rose with some fluctuations to approximately 10.9 billion US dollars by June 2025. Notably, there was a slight dip observed around June 2022, but the trend quickly resumed its upward direction thereafter. This growth in equity reflects a strengthening capital base and could be linked to retained earnings accumulation or additional capital investments.

The equity turnover ratio, available from September 2020 onward, starts at 0.7 and shows a gradual increase, peaking around 0.91 by December 2022, suggesting improved efficiency in using equity to generate revenue. However, subsequent periods indicate a declining trend, with the ratio decreasing to approximately 0.73 by mid-2025. This slight reduction might imply that revenue growth, while positive, is not increasing proportionally relative to equity, possibly due to expanding equity or slowing revenue relative to equity growth in recent periods.

Revenue Trend
Demonstrates steady and significant growth from 523 million to over 2.2 billion US dollars, indicating successful expansion and commercialization efforts.
Stockholders’ Equity Trend
Shows a strong increase with minor fluctuations, growing nearly fourfold from 2.85 billion to close to 11 billion US dollars, suggesting robust capitalization and accumulated profits or investments.
Equity Turnover Ratio Trend
Initial improvement from 0.7 to over 0.9 signals enhanced asset utilization efficiency; however, the decline to 0.73 later suggests possible dilution of efficiency or increased equity base without corresponding revenue gains.