Company Valuation: Arista Networks, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 44,172 37,081 73,267 139,241 165,004 258,450 - -
Change - -16.05% 97.59% 90.05% 18.5% 56.63% - -
Enterprise Value (EV) 1 40,764 34,058 68,259 130,938 154,261 243,037 238,228 233,943
Change - -16.45% 100.42% 91.82% 17.81% 57.55% -1.98% -1.8%
P/E 54.7x 28.4x 35.8x 49.6x 47.6x 53.7x 41.9x 33.6x
PBR 11.1x 7.61x 10.1x 13.9x 13.3x 15.1x 11.5x 8.74x
PEG - 0.5x 0.7x 1.4x 2x 1.4x 1.5x 1.4x
Capitalization / Revenue 15x 8.46x 12.5x 19.9x 18.3x 20.4x 15.9x 13.1x
EV / Revenue 13.8x 7.77x 11.6x 18.7x 17.1x 19.2x 14.7x 11.8x
EV / EBITDA 34.2x 18.3x 25.5x 38.6x 35x 38.5x 29x 23.6x
EV / EBIT 35.7x 19x 26.2x 39.4x 35.6x 39.5x 30x 23.9x
EV / FCF 42.9x 76x 34.1x 35.6x 36.3x 42.7x 35.7x 30.1x
FCF Yield 2.33% 1.32% 2.93% 2.81% 2.76% 2.34% 2.8% 3.33%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.6575 1.068 1.645 2.23 2.75 3.813 4.887 6.094
Distribution rate - - - - - - - -
Net sales 1 2,948 4,381 5,860 7,003 9,006 12,665 16,232 19,758
EBITDA 1 1,191 1,859 2,674 3,389 4,410 6,311 8,224 9,902
EBIT 1 1,141 1,796 2,603 3,327 4,337 6,147 7,954 9,796
Net income 1 840.9 1,352 2,087 2,852 3,511 4,885 6,143 7,428
Net Debt 1 -3,408 -3,024 -5,008 -8,303 -10,743 -15,413 -20,222 -24,507
Reference price 2 35.94 30.34 58.88 110.53 131.03 204.92 204.92 204.92
Nbr of stocks (in thousands) 1,229,134 1,222,290 1,244,401 1,259,760 1,259,285 1,261,225 - -
Announcement Date 14/02/22 13/02/23 12/02/24 18/02/25 12/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.02x5.83x15.1x1.6% 421B
53.74x19.19x38.51x-.--% 258B
19.47x0.79x14.22x2.33% 174B
26.37x8.34x20.14x0.47% 143B
43.46x12.78x28.48x-.--% 82.64B
32.71x6.38x18.49x1.07% 74.82B
29.36x6.65x22.19x1.41% 56.71B
41.17x2.23x14.41x1.72% 56.21B
59.34x7.68x33.97x-.--% 48.81B
Average 36.85x 7.76x 22.84x 0.95% 146.13B
Weighted average by Cap. 34.14x 8.48x 22.14x 1.06%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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