ANET
Arista NetworksPrevious close
168.86
Change
−15.36 / −8.34%
P/E (TTM) ?
57.4
Market Cap
$213B
1M
−17.06%
S&P 500 −0.91% over same period
Volume / Avg Volume
8.4M / 5.9M
1.43× average
Latest earnings analysisFY2026 Q2Reported 2026-08-04
Arista Q2 2026: first $3 billion quarter, revenue up 37.7%
Arista's Q2 2026 was a beat-and-raise quarter: revenue of $3.04 billion rose 37.7% from a year ago, and non-GAAP EPS of $1.02 landed 13.0% above the $0.9026 consensus. The blemish is gross margin, down to 62.9% from 65.2%, and free cash flow that fell year over year. Read this as accelerating demand with thinner hardware margins, not a company running out of growth.
Read the full analysis →Revenue$3.04BYoY +37.70%
EPS (non-GAAP)$1.02Beatest. $0.90
Next-quarter revenue guidance$3.30BYoY +8.70%
Next-day move+3.57%
Recent Earnings
Click to read the FinDog analysis| Period | Reported | Revenue | Analysis |
|---|---|---|---|
| FY2026 Q2 Quarter ended 2026-06 | 2026-08-04 | $3.0B | Read analysis → |
| FY2026 Q1 Quarter ended 2026-03 | 2026-05-05 | $2.7B | Pending |
| FY2025 Q4 Quarter ended 2025-12 | 2026-02-12 | $9.0B | Pending |
| FY2025 Q3 Quarter ended 2025-09 | 2025-11-04 | $2.3B | Pending |
| FY2025 Q2 Quarter ended 2025-06 | 2025-08-05 | $2.2B | Pending |
| FY2025 Q1 Quarter ended 2025-03 | 2025-05-06 | $2.0B | Pending |
Decision Panel
Trends · Valuation · Earnings reaction · Guidance credibility — all from company filings and market dataValuation
P/E is at percentile 73 of its 5-year rangeExpensive
5-year range 20.5 – 105.8 · Median 48.5
Last 4 quarters: $620M in buybacks + $0 in dividends, 0.29% of market cap combined
P/E (TTM)
57.4
P/B
15.7
P/S
22.0
PEG
2.38
Earnings Reaction
Over the last 6 reports, the stock moved ±8.8% on average on the first trading day after, rising 3 times
Most recent +3.57%
Volatility & Correlation
1-year beta 2.28 · Correlation with S&P 500 0.53High beta
Annualized volatility 55% vs. 13% for the S&P 500
Insider Trading
View all →Last 90 days · Open-market buys and sells by officers and directors · Amounts in USD millions
Buy 0 · $0.00MSell 9 · $184MNet selling $184M
- 10-20Duda KennethPresident and CTOSell$7.8M43,333 shares · 18 trades · Avg price 180.91
- 10-09Ullal JayshreeCEO and ChairpersonSell$28.3M130,553 shares · 3 trades · Avg price 217.10
- 10-08Ullal JayshreeCEO and ChairpersonSell$6.1M27,990 shares · 3 trades · Avg price 217.05
- 10-07Ullal JayshreeCEO and ChairpersonSell$21.1M96,992 shares · 3 trades · Avg price 217.14
- 10-06Breithaupt Chantelle YvetteSenior Vice President, CFOSell$0.26M1,224 shares · Avg price 215.00
- 10-06Ullal JayshreeCEO and ChairpersonSell$97.6M460,374 shares · 9 trades · Avg price 212.09
- 10-01TEMPLETON MARK BDirectorSell$1.0M5,000 shares · 5 trades · Avg price 204.37
- 09-25Ullal JayshreeCEO and ChairpersonSell$13.2M62,622 shares · 3 trades · Avg price 211.40
Multi-Quarter Financial Trends
View all quarters →Last 12 quarters · As reported by the company
| Quarter | Revenue ($B) | YoY | Gross Margin | Net Income ($B) | EPS |
|---|---|---|---|---|---|
| FY2026 Q2 | 3.04 | +37.7% | 62.9% | 1.21 | 0.95 |
| FY2026 Q1 | 2.71 | +35.1% | 61.9% | 1.02 | 0.80 |
| FY2025 Q4 | 2.49 | +28.9% | 62.9% | -2.56 | 0.74 |
| FY2025 Q3 | 2.31 | +27.5% | 64.6% | 0.85 | 0.67 |
| FY2025 Q2 | 2.20 | +30.4% | 65.2% | 0.89 | 0.70 |
| FY2025 Q1 | 2.00 | +27.6% | 63.7% | 0.81 | 0.64 |
| FY2024 Q4 | 1.93 | +25.3% | 63.8% | -2.05 | 0.63 |
| FY2024 Q3 | 1.81 | +20.0% | 64.2% | 0.75 | 0.58 |
| FY2024 Q2 | 1.69 | +15.9% | 64.9% | 0.67 | 0.52 |
| FY2024 Q1 | 1.57 | +16.3% | 63.7% | 0.64 | 0.50 |
| FY2023 Q4 | 1.54 | +20.8% | 64.9% | -1.47 | -3.00 |
| FY2023 Q3 | 1.51 | +28.3% | 62.4% | 0.55 | 1.72 |
| Ticker | P/E | Revenue YoY | Gross Margin | 1M | View |
|---|---|---|---|---|---|
| ANET | 57.4 | +37.7% | 62.9% | −17.06% | Bullish |
| NVDA | 25.8 | +105.9% | 75.0% | −10.39% | Bullish |
| AAPL | 39.3 | +16.4% | 50.1% | +3.49% | Bullish |
| MSFT | 27.2 | +18.8% | 67.8% | +1.76% | Bullish |
| AVGO | 40.4 | +85.5% | 69.1% | −7.15% | Bullish |
| MU | 11.8 | +379.3% | 86.8% | −16.93% | Bullish |
| AMD | 143.0 | +50.1% | 53.8% | −17.48% | Bullish |
| INTC | — | +20.9% | 43.0% | −45.30% | Bullish |
| PLTR | 156.5 | +92.8% | 84.7% | −1.57% | Bullish |