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Arista Networks ANET Return on invested capital

Return on invested capital at other companies

Cisco Systems, Inc. logo
Cisco Systems, Inc.CSCO
16.8%+1.6pp
Hewlett Packard Enterprise logo
Hewlett Packard EnterpriseHPE
4%+2.4pp
Astera Labs, Inc. logo
Astera Labs, Inc.ALAB
16.4%
Ciena logo
CienaCIEN
15%+10.9pp
Coherent logo
CoherentCOHR
2.7%+2.1pp
CoreWeave, Inc.
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CoreWeave, Inc. CRWV
-0.7%

Other financials

Income statement

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Revenue$2.7B+35.1%
Gross profit$1.7B+31.4%
Operating income$1.2B+34.8%
Net income$1.0B+25.7%
EPS (diluted)$0.80+25.0%

Balance sheet

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Cash & equivalents$2.8B+51.2%
Total equity$13.5B+33.3%
Total assets$21.7B+49.2%

Cash flow

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Operating cash flow$1.7B+164%
CapEx$54.5M+91.9%
Free cash flow$1.6B+167%

Valuation

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Market cap$207.67B+57.9%
P/E55.8×+12.4×
P/S21.4×+3.7×

Profitability

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Gross margin63.5%-0.6pp
Operating margin42.8%+0.5pp
Net margin38.3%-2.4pp

Returns & leverage

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Return on equity31.5%-2.2pp
Debt / equity0.0×
Current ratio2.8×-1.1×

Where this comes from

Calculated from Arista Networks’s reported figures.

Based on trailing twelve months.

The official record: Arista Networks’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Arista Networks's return on invested capital?
Arista Networks (ANET) reported return on invested capital of 40.7% in Q4 2024.
How has Arista Networks's return on invested capital changed year-over-year?
Arista Networks's return on invested capital increased by 0.7% year-over-year, from 40.4% to 40.7%.
What is the long-term trend for Arista Networks's return on invested capital?
Over 2 years (2021 to 2023), Arista Networks's return on invested capital has grown at a 19.9% compound annual growth rate (CAGR), from 110.8% to 159.4%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.