Income Statement Arista Networks, Inc.

Equities

ANET

US0404131064

Communications & Networking

Market Closed - Nyse Other stock markets 21:00:02 11/09/2024 BST			5-day change	1st Jan Change
342.93 ^USD	+4.95%		+5.18%	+45.61%

09-11	Arista Networks Insider Sold Shares Worth $12,153,365, According to a Recent SEC Filing	MT
09-10	Transcript : Arista Networks, Inc. Presents at Goldman Sachs Communacopia + Technology Conference 2024, Sep-10-2024 02:25 PM

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Published financial data: ARISTA NETWORKS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	2.41B	2.32B	2.95B	4.38B	5.86B
Total Revenues	2.41B	2.32B	2.95B	4.38B	5.86B
Cost of Goods Sold, Total	866M	836M	1.07B	1.71B	2.23B
Gross Profit	1.54B	1.48B	1.88B	2.68B	3.63B
Selling General & Admin Expenses, Total	276M	289M	369M	420M	518M
R&D Expenses	463M	487M	587M	728M	855M
Other Operating Expenses, Total	739M	776M	956M	1.15B	1.37B
Operating Income	806M	706M	925M	1.53B	2.26B
Interest Expense, Total	-	-	-	-	-
Interest And Investment Income	51.14M	27.14M	7.22M	27.56M	152M
Net Interest Expenses	51.14M	27.14M	7.22M	27.56M	152M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	-75K	-1.56M	-1.08M	-345K	-6.34M
EBT, Excl. Unusual Items	857M	732M	931M	1.55B	2.4B
Merger & Related Restructuring Charges	-	-6.6M	-	-	-
Gain (Loss) On Sale Of Investments	5.43M	13.6M	-	27.48M	18.7M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	862M	739M	931M	1.58B	2.42B
Income Tax Expense	2.4M	104M	90.02M	229M	335M
Earnings From Continuing Operations	860M	635M	841M	1.35B	2.09B
Net Income to Company	860M	635M	841M	1.35B	2.09B
Net Income - (IS)	860M	635M	841M	1.35B	2.09B
Preferred Dividend and Other Adjustments	423K	-	-	-	-
Net Income to Common Incl Extra Items	859M	635M	841M	1.35B	2.09B
Net Income to Common Excl. Extra Items	859M	635M	841M	1.35B	2.09B
Per Share Items
Net EPS - Basic	2.82	2.09	2.74	4.41	6.75
Basic EPS - Continuing Operations	2.82	2.09	2.74	4.41	6.75
Basic Weighted Average Shares Outstanding	305M	304M	307M	306M	309M
Net EPS - Diluted	2.66	2	2.63	4.27	6.58
Diluted EPS - Continuing Operations	2.66	2	2.63	4.27	6.58
Diluted Weighted Average Shares Outstanding	324M	318M	319M	316M	317M
Normalized Basic EPS	1.75	1.5	1.9	3.17	4.86
Normalized Diluted EPS	1.66	1.44	1.82	3.07	4.74
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	839M	751M	975M	1.59B	2.33B
EBITA	819M	730M	954M	1.56B	2.29B
EBIT	806M	706M	925M	1.53B	2.26B
EBITDAR	867M	782M	1.01B	1.62B	2.36B
Total Revenues (As Reported)	2.41B	2.32B	2.95B	4.38B	5.86B
Effective Tax Rate - (Ratio)	0.28	14.12	9.67	14.5	13.82
Current Domestic Taxes	77.25M	99.98M	176M	435M	681M
Current Foreign Taxes	928K	12.89M	13.39M	38.25M	24.19M
Total Current Taxes	78.18M	113M	189M	474M	706M
Deferred Domestic Taxes	358M	-18.44M	-115M	-254M	-413M
Deferred Foreign Taxes	-433M	9.88M	15.78M	9.88M	42.63M
Total Deferred Taxes	-75.78M	-8.56M	-99.05M	-244M	-371M
Normalized Net Income	536M	457M	582M	971M	1.5B
Interest on Long-Term Debt	-	-	-	-	-
Supplemental Operating Expense Items
Selling and Marketing Expenses	214M	229M	286M	327M	399M
General and Administrative Expenses	61.9M	59.64M	83.12M	93.24M	119M
Research And Development Expense From Footnotes	463M	487M	587M	754M	878M
Net Rental Expense, Total	28.8M	30.85M	31.01M	32.82M	33.26M
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., COGS (Total)	4.64M	6.27M	7.44M	9.69M	12.79M
Stock-Based Comp., R&D Exp. (Total)	53.07M	79.91M	99.77M	131M	172M
Stock-Based Comp., S&M Exp. (Total)	29.17M	34.94M	46.52M	57.57M	71.07M
Stock-Based Comp., G&A Exp. (Total)	14.41M	15.91M	33.14M	32.78M	40.72M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	101M	137M	187M	231M	297M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.11B	893M	621M	672M	1.94B
Short Term Investments	1.61B	1.98B	2.79B	2.35B	3.07B
Total Cash And Short Term Investments	2.72B	2.87B	3.41B	3.02B	5.01B
Accounts Receivable, Total	392M	390M	517M	923M	1.02B
Total Receivables	392M	390M	517M	923M	1.02B
Inventory	258M	498M	696M	1.45B	2.08B
Prepaid Expenses	13.12M	15.32M	18.53M	27.81M	282M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	84.62M	60.82M	173M	124M	-
Total Current Assets	3.47B	3.84B	4.81B	5.55B	8.39B
Gross Property Plant And Equipment	224M	225M	277M	305M	346M
Accumulated Depreciation	-97.38M	-115M	-133M	-157M	-188M
Net Property Plant And Equipment	127M	110M	144M	148M	157M
Long-term Investments	4.15M	8.31M	20.25M	39.47M	62.29M
Goodwill	54.86M	190M	188M	266M	269M
Other Intangibles, Total	45.24M	123M	93.56M	122M	88.77M
Deferred Tax Assets Long-Term	452M	442M	442M	575M	946M
Other Long-Term Assets, Total	30.35M	30.07M	33.44M	73.75M	33.72M
Total Assets	4.19B	4.74B	5.73B	6.78B	9.95B
Liabilities
Accounts Payable, Total	92.1M	134M	203M	233M	435M
Accrued Expenses, Total	132M	132M	216M	277M	407M
Current Portion of Leases	16.05M	17.77M	20.3M	19.88M	21.11M
Current Income Taxes Payable	1.72M	1.87M	-	-	-
Unearned Revenue Current, Total	336M	431M	632M	683M	974M
Other Current Liabilities	19.34M	51.43M	38.39M	81.47M	71.74M
Total Current Liabilities	597M	768M	1.11B	1.29B	1.91B
Long-Term Leases	83.02M	72.4M	56.53M	43.96M	44.41M
Unearned Revenue Non Current	300M	255M	390M	462M	665M
Deferred Tax Liability Non Current	255M	228M	129M	42K	-
Other Non Current Liabilities	55.53M	95.48M	69.98M	89.99M	109M
Total Liabilities	1.29B	1.42B	1.76B	1.89B	2.73B
Common Stock, Total	8K	8K	31K	31K	31K
Additional Paid In Capital	1.11B	1.29B	1.53B	1.78B	2.11B
Retained Earnings	1.79B	2.03B	2.46B	3.14B	5.11B
Comprehensive Income and Other	143K	238K	-8.3M	-33.91M	-3.33M
Total Common Equity	2.89B	3.32B	3.98B	4.89B	7.22B
Total Equity	2.89B	3.32B	3.98B	4.89B	7.22B
Total Liabilities And Equity	4.19B	4.74B	5.73B	6.78B	9.95B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	306M	305M	308M	306M	313M
ECS Total Common Shares Outstanding	306M	305M	308M	307M	312M
Book Value / Share	9.47	10.9	12.93	15.92	23.12
Tangible Book Value	2.79B	3.01B	3.7B	4.5B	6.86B
Tangible Book Value Per Share	9.15	9.87	12.01	14.66	21.98
Total Debt	99.07M	90.17M	76.82M	63.84M	65.52M
Net Debt	-2.63B	-2.78B	-3.33B	-2.96B	-4.94B
Debt Equivalent Oper. Leases	230M	247M	248M	263M	266M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	96.71M	219M	317M	760M	931M
Inventories - Finished Goods, Total	147M	260M	333M	530M	1.01B
Land - (BS)	-	-	40.14M	41.5M	44.64M
Buildings, Total	-	-	-	-	-
Machinery, Total	105M	115M	139M	178M	206M
Full Time Employees	2.3K	2.61K	2.99K	3.61K	4.02K
Accumulated Allowance for Doubtful Accounts (Supple)	638K	659K	132K	19K	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	860M	635M	841M	1.35B	2.09B
Depreciation & Amortization - CF	19.45M	20.49M	21.13M	29M	37.23M
Amortization of Goodwill and Intangible Assets - (CF)	13.4M	24.1M	29.2M	33.7M	33.4M
Depreciation & Amortization, Total	32.85M	44.59M	50.33M	62.7M	70.63M
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-12.2M	-3.22M	26.85M	-14.71M	-52.22M
Stock-Based Compensation (CF)	101M	137M	187M	231M	297M
Tax Benefit from Stock Options	-	-	-	-	-
Provision and Write-off of Bad Debts	-	-	-	-	-
Other Operating Activities, Total	-59.56M	7.83M	-82.18M	-226M	-353M
Change In Accounts Receivable	-60.21M	10.67M	-127M	-402M	-101M
Change In Inventories	20.93M	-235M	-170M	-639M	-655M
Change In Accounts Payable	-1.94M	41.16M	66.68M	31.44M	199M
Change in Unearned Revenues	-11.94M	50.35M	278M	98.96M	465M
Change In Income Taxes	23.52M	8.8M	6.22M	44.03M	20.17M
Change in Other Net Operating Assets	70.43M	38.64M	-60.85M	-46.76M	57.29M
Cash from Operations	963M	735M	1.02B	493M	2.03B
Capital Expenditure	-15.75M	-15.38M	-64.74M	-44.64M	-34.43M
Cash Acquisitions	-1.36M	-227M	-	-145M	1.8M
Investment in Marketable and Equity Securities, Total	-267M	-366M	-862M	406M	-655M
Other Investing Activities, Total	-	-	1.3M	-	-
Cash from Investing	-284M	-609M	-926M	216M	-687M
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-	-	-	-	-
Issuance of Common Stock	57.38M	57.56M	67.24M	48.41M	62.09M
Repurchase of Common Stock	-275M	-404M	-428M	-703M	-146M
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-218M	-346M	-361M	-655M	-83.75M
Foreign Exchange Rate Adjustments	353K	1.97M	-1.82M	-3.61M	675K
Net Change in Cash	461M	-218M	-272M	50.93M	1.26B
Supplemental Items
Cash Interest Paid	-	-	-	-	-
Cash Income Tax Paid (Refund)	32.83M	82.6M	190M	428M	686M
Levered Free Cash Flow	610M	560M	649M	265M	1.5B
Unlevered Free Cash Flow	610M	560M	649M	265M	1.5B
Change In Net Working Capital	11.78M	47.41M	101M	939M	240M
Net Debt Issued / Repaid	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	13.86	9.89	11.04	15.26	16.87
Return on Total Capital	19.46	13.79	15.48	21.2	23.06
Return On Equity %	34.13	20.42	23.04	30.51	34.49
Return on Common Equity	34.12	20.42	23.04	30.51	34.49
Margin Analysis
Gross Profit Margin %	64.06	63.94	63.8	61.07	61.95
SG&A Margin	11.44	12.47	12.53	9.59	8.84
EBITDA Margin %	34.79	32.4	33.08	36.29	39.72
EBITA Margin %	33.98	31.52	32.36	35.62	39.09
EBIT Margin %	33.42	30.48	31.37	34.86	38.52
Income From Continuing Operations Margin %	35.67	27.38	28.52	30.87	35.62
Net Income Margin %	35.67	27.38	28.52	30.87	35.62
Net Avail. For Common Margin %	35.65	27.38	28.52	30.87	35.62
Normalized Net Income Margin	22.21	19.74	19.74	22.17	25.63
Levered Free Cash Flow Margin	25.31	24.18	22.02	6.05	25.65
Unlevered Free Cash Flow Margin	25.31	24.18	22.02	6.05	25.65
Asset Turnover
Asset Turnover	0.66	0.52	0.56	0.7	0.7
Fixed Assets Turnover	23.82	19.59	23.27	29.99	38.32
Receivables Turnover (Average Receivables)	6.66	5.93	6.51	6.09	6.02
Inventory Turnover (Average Inventory)	3.23	2.21	1.79	1.59	1.26
Short Term Liquidity
Current Ratio	5.81	4.99	4.34	4.29	4.39
Quick Ratio	5.22	4.25	3.54	3.05	3.16
Operating Cash Flow to Current Liabilities	1.61	0.96	0.92	0.38	1.07
Days Sales Outstanding (Average Receivables)	54.79	61.71	56.09	59.97	60.65
Days Outstanding Inventory (Average Inventory)	113.06	165.56	204.32	229.85	288.7
Average Days Payable Outstanding	40.16	38.48	48.59	32.27	42.69
Cash Conversion Cycle (Average Days)	127.7	188.8	211.82	257.55	306.66
Long Term Solvency
Total Debt/Equity	3.42	2.72	1.93	1.31	0.91
Total Debt / Total Capital	3.31	2.64	1.89	1.29	0.9
LT Debt/Equity	2.87