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 73,267 139,241 165,004 260,506 - -
Change - -16.05% 97.59% 90.05% 18.5% 57.88% - -
Enterprise Value (EV) 1 40,764 34,058 68,259 130,938 154,261 245,093 240,284 235,999
Change - -16.45% 100.42% 91.82% 17.81% 58.88% -1.96% -1.78%
P/E 54.7x 28.4x 35.8x 49.6x 47.6x 54.2x 42.3x 33.9x
PBR 11.1x 7.61x 10.1x 13.9x 13.3x 15.2x 11.6x 8.81x
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 20.6x 16x 13.2x
EV / Revenue 13.8x 7.77x 11.6x 18.7x 17.1x 19.4x 14.8x 11.9x
EV / EBITDA 34.2x 18.3x 25.5x 38.6x 35x 38.8x 29.2x 23.8x
EV / EBIT 35.7x 19x 26.2x 39.4x 35.6x 39.9x 30.2x 24.1x
EV / FCF 42.9x 76x 34.1x 35.6x 36.3x 43x 36x 30.3x
FCF Yield 2.33% 1.32% 2.93% 2.81% 2.76% 2.32% 2.77% 3.3%
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 58.88 110.53 131.03 206.55 206.55 206.55
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
26.01x5.83x15.09x1.6% 421B
54.16x19.35x38.83x-.--% 261B
20.16x0.81x14.74x2.25% 180B
28.98x9.22x22.26x0.42% 157B
44.42x13.09x29.42x-.--% 84.47B
33.06x6.44x18.67x1.06% 75.61B
42.56x2.31x14.94x1.66% 58.24B
29.37x6.65x22.2x1.41% 56.73B
61.54x7.96x35.21x-.--% 50.61B
Average 37.81x 7.96x 23.49x 0.93% 149.35B
Weighted average by Cap. 34.78x 8.63x 22.64x 1.04%

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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