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Arista Networks ANET Product — Total Cost of Revenue

Other product segments

Service
$77.9M+32.3%

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Other financials

Income statement

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Revenue$3.0B+37.7%
Gross profit$1.9B+32.8%
Operating income$1.4B+39.7%
Net income$1.2B+36.5%
EPS (diluted)$0.95+35.7%

Balance sheet

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Cash & equivalents$2.3B+2.9%
Total debt$59.6M-9.0%
Total equity$14.8B+35.7%
Total assets$23.7B+43.5%

Cash flow

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Operating cash flow$1.1B-9.8%
CapEx$29.7M+23.8%
Free cash flow$1.1B-10.4%

Valuation

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Market cap$248.45B+42.5%
P/E61.4×+7.8×
P/S23.6×+1.6×

Profitability

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Gross margin63%-1.2pp
Operating margin43.1%0.0pp
Net margin38.4%-2.5pp
FCF margin48.9%-1.1pp

Returns & leverage

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Return on equity31.5%-2.2pp
Debt / equity0.0×
Current ratio-0.4×

Where this comes from

Reported directly by Arista Networks in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

The source filing: Arista Networks’s 10-Q, filed August 5, 2026.

Filed
Aug 4, 2026, 8:00 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001596532-26-000175
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Service430.5327.8828.2640.1
Total revenue3,035.72,204.85,744.74,209.6
Cost of revenue:
Product1,047.5707.32,009.41,380.0
Service77.958.9148.2114.9
Total cost of revenue1,125.4766.22,157.61,494.9
Gross profit1,910.31,438.63,587.12,714.7
Operating expenses:

Item 1. Financial Statements (Unaudited)

FAQ

What is Arista Networks's product — total cost of revenue?
Arista Networks (ANET) reported product — total cost of revenue of $1.05B in Q2 2026.
How has Arista Networks's product — total cost of revenue changed year-over-year?
Arista Networks's product — total cost of revenue increased by 48.1% year-over-year, from $707.3M to $1.05B.
What is the long-term trend for Arista Networks's product — total cost of revenue?
Over 4 years (2021 to 2025), Arista Networks's product — total cost of revenue has grown at a 32.8% compound annual growth rate (CAGR), from $958.36M to $2.98B.
What does product — total cost of revenue mean?
This metric captures the direct costs associated with manufacturing, sourcing components, and delivering the company's hardware products to customers. It includes expenses such as materials, labor, and freight required to fulfill product sales. Monitoring this cost is essential for evaluating the company's manufacturing efficiency and the impact of supply chain fluctuations on gross margins.

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