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ANET Arista Networks, Inc.

NYSE, CIK 0001596532, fiscal year ends 12/31. Last price 172.37 on 2026-10-23, market value 217.4 billion dollars.

Machine-readable: ANET.json, ANET.md. Sections: Graham Defensive, Magic Formula, Momentum, Insider, Buffett Quality, Lynch GARP, Graham Enterprising, Piotroski F-Score, earnings record, insiders, filings and links.

Philosophy	Score	Status	Current inputs as of	History used	Price	Verification	Rules
Graham Defensive	60	ok	2025-12-31 stale: Revenue	2014–2025	2026-10-23	0 verified, 23 unverified	method
Magic Formula	n/a	insufficient data (debt unknown: no debt concept reported in the last 18 months)	—	—	—	—	method
Momentum	62	ok	2026-10-23	—	2026-10-23	—	method
Insider	0	no open-market transactions in window	2026-10-23	—	—	—	method
Buffett Quality	70 partial, missing 4	partial: 4	2026-07-30	2016–2025	2026-10-23	0 verified, 46 unverified	method
Lynch GARP	44 partial, missing 4, 6	partial: 4, 6	—	2020–2025	2026-10-23	0 verified, 2 unverified	method
Graham Enterprising	40 partial, missing 2	partial: 2	2026-06-30	2020–2025	2026-10-23	0 verified, 11 unverified	method
Piotroski F-Score	56 partial, missing 5	partial: 5	—	2024–2026	—	0 verified, 23 unverified	method

Market value, source trail

market_value = traded_price (price date) / depositary_ratio x latest point-in-time SEC shares outstanding (share-count date shown; from the filing cover page, summed across share classes only where the issuer filing verifies the classes are economically equivalent (rule + evidence URL in the source text), else withheld; priced at the primary listed class, so where other classes trade at a different price the value is an approximation; restated only for issuer-verified splits after the count date); weighted-average share counts are never used

Input	Value	Unit	Period / date	Source
Traded price	172.37	USD per traded unit (share or ADS)	2026-10-23	Yahoo Finance
SEC shares outstanding	1,261,224,648	underlying shares	2026-07-30	SEC cover page 10-Q 0001596532-26-000175 (1,261,224,648 shares (single class on cover)); filing document https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/anet-20260630.htm 0001596532-26-000175
Depositary ratio	1.0	underlying shares per traded unit		domestic 10-K filer; SEC shares are the traded units
Market value price date × latest reported shares	217,397,292,576	USD	2026-10-23 shares at 2026-07-30	172.37 (price 2026-10-23) / 1 x 1,261,224,648 (shares at 2026-07-30) = 217,397,292,576

Graham Defensive

60 of 100. ok. How this is scored.

Test or factor	Value	Threshold	Points
1 Adequate size	9.01 revenue $B	>= 1	5.0 / 5
2a Current ratio	2.96	>= 2.0	15.0 / 15
2b Long-term debt vs working capital no debt tag reported; using total liabilities minus current liabilities as an upper bound	0.16 LTD / WC	<= 1.0	15.0 / 15
3 Positive earnings each of 10 years	10 of 10	10 of 10	15.0 / 15
4 Dividends every year for 20 years	0 of 20 missing 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024, 2025 XBRL check: 0 years agree, 20 unverified	20 of 20	0.0 / 15
5 EPS growth, 3-yr avg now vs 10 yrs ago	0.11 -> 2.21 (+1843%)	>= +33%	10.0 / 10
6 P/E on 3-year average EPS	78.0	<= 15	0.0 / 15
7 P/B <= 1.5, or P/E x P/B <= 22.5	P/B 14.69, product 1145.9	<= 1.5 or <= 22.5	0.0 / 10

Inputs, 25 numbers with their sources

Input	Value	Period	Source	Check
Price (close, per traded unit)	172.37	2026-10-23	Alpaca Market Data (consolidated SIP daily bar)	not cross-checked
Revenue	9005700000.0	2025-12-31 stale	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0001596532-26-000013	unverified
liabilities	8922400000.0	2026-06-30	SEC XBRL Liabilities 0001596532-26-000175	unverified
current_liabilities	6818400000.0	2026-06-30	SEC XBRL LiabilitiesCurrent 0001596532-26-000175	unverified
current_assets	20163400000.0	2026-06-30	SEC XBRL AssetsCurrent 0001596532-26-000175	unverified
current_liabilities	6818400000.0	2026-06-30	SEC XBRL LiabilitiesCurrent 0001596532-26-000175	unverified
equity	14797700000.0	2026-06-30	SEC XBRL StockholdersEquity 0001596532-26-000175	unverified
Net income FY2016	184189000.0	2016-12-31 history	SEC XBRL NetIncomeLoss 0001596532-19-000027	unverified
Net income FY2017	423201000.0	2017-12-31 history	SEC XBRL NetIncomeLoss 0001596532-20-000024	unverified
Net income FY2018	328115000.0	2018-12-31 history	SEC XBRL NetIncomeLoss 0001596532-21-000049	unverified
Net income FY2019	859867000.0	2019-12-31 history	SEC XBRL NetIncomeLoss 0001596532-22-000026	unverified
Net income FY2020	634557000.0	2020-12-31 history	SEC XBRL NetIncomeLoss 0001596532-23-000016	unverified
Net income FY2021	840854000.0	2021-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-24-000043	unverified
Net income FY2022	1352446000.0	2022-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-25-000028	unverified
Net income FY2023	2087300000.0	2023-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
Net income FY2024	2852100000.0	2024-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
Net income FY2025	3511400000.0	2025-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
Dividend years (Yahoo)	[]	history	Yahoo Finance dividend history	unverified
EPS diluted FY2014	0.0806	2014-12-31 history	SEC XBRL EarningsPerShareDiluted 0001596532-17-000019	unverified
EPS diluted FY2015	0.1044	2015-12-31 history	SEC XBRL EarningsPerShareDiluted 0001596532-18-000018	unverified
EPS diluted FY2016	0.1562	2016-12-31 history	SEC XBRL EarningsPerShareDiluted 0001596532-19-000027	unverified
EPS diluted FY2023	1.65	2023-12-31 history	SEC XBRL EarningsPerShareDiluted 0001596532-26-000013	unverified
EPS diluted FY2024	2.23	2024-12-31 history	SEC XBRL EarningsPerShareDiluted 0001596532-26-000013	unverified
EPS diluted FY2025	2.75	2025-12-31 history	SEC XBRL EarningsPerShareDiluted 0001596532-26-000013	unverified
Shares outstanding	1261224648.0	2026-07-30	SEC cover page 10-Q 0001596532-26-000175 (1,261,224,648 shares (single class on cover)); filing document https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/anet-20260630.htm 0001596532-26-000175	not cross-checked

Magic Formula

insufficient data (debt unknown: no debt concept reported in the last 18 months). How this is scored.

insufficient data (debt unknown: no debt concept reported in the last 18 months).

Momentum

62 of 100. ok. How this is scored.

Test or factor	Value	Points
12-1 month return	33.2 % (percentile 79.8)	39.9 / 50
6 month return	-0.1 % (percentile 41.5)	8.3 / 20
Price / 52-week high	0.795	11.9 / 15
Volatility penalty (60d annualised)	47.7 %	2.1 / 15

Inputs, 1 numbers with their sources

Input	Value	Period	Source	Check
Adjusted close series (14 months)	172.37	2026-10-23	Yahoo Finance / Alpaca Market Data daily history	not cross-checked

Insider

0 of 100. no open-market transactions in window. How this is scored. Form 4 data loaded through 2026-10-23

Test or factor	Value	Points
Open-market buy value / market cap (percentile among buyers)	0.0 bp	0.0 / 35
Distinct buyers	0	0.0 / 25
Buyer seniority	0.0	0.0 / 20
Recency (half-life 30d)	0.0	0.0 / 10
Sales penalty (excludes 10b5-1 plan sales)	0.0 bp	-0.0 / 0

Inputs, 30 numbers with their sources

Input	Value	Source	Check
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-20 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-09 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-09 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-08 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-08 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-07 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-07 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-06 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-06 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-06 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-06 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-06 S	10b5-1 plan	rule	not cross-checked
excluded 2026-10-06 S	10b5-1 plan	rule	not cross-checked

Buffett Quality

70 of 100. partial: 4. How this is scored.

Test or factor	Value	Threshold	Points
1 Average return on equity (net income / year-end equity)	24.8% over 8 yrs	>= 15%	25.0 / 25
2 Profitable every year	10 of 10	all years	15.0 / 15
3 Net income growth, 3-yr average now vs start of window	+36.9% a year	>= +10%	10.0 / 10
4 Borrowings / 3-yr average earnings (years to repay) debt unknown: no debt concept reported in the last 18 months	—	<= 4	None / 15
5 Operating margin, 5-yr average	37.9%	>= 20%	10.0 / 10
6 Free cash flow / net income, 5-yr (operating cash flow minus capex)	1.06	>= 1.0	10.0 / 10
7 Owner-earnings yield (3-yr avg free cash flow / market cap)	1.5%	>= 7%	0.0 / 15

Inputs, 48 numbers with their sources

Input	Value	Period	Source	Check
Price (close, per traded unit)	172.37	2026-10-23	Alpaca Market Data (consolidated SIP daily bar)	not cross-checked
Net income FY2018	328115000.0	2018-12-31 history	SEC XBRL NetIncomeLoss 0001596532-21-000049	unverified
Equity at FY2018 end	2143389000.0	2018-12-31 history	SEC XBRL StockholdersEquity 0001596532-22-000026	unverified
Net income FY2019	859867000.0	2019-12-31 history	SEC XBRL NetIncomeLoss 0001596532-22-000026	unverified
Equity at FY2019 end	2894686000.0	2019-12-31 history	SEC XBRL StockholdersEquity 0001596532-23-000016	unverified
Net income FY2020	634557000.0	2020-12-31 history	SEC XBRL NetIncomeLoss 0001596532-23-000016	unverified
Equity at FY2020 end	3320291000.0	2020-12-31 history	SEC XBRL StockholdersEquity 0001596532-24-000043	unverified
Net income FY2021	840854000.0	2021-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-24-000043	unverified
Equity at FY2021 end	3978600000.0	2021-12-31 history	SEC XBRL StockholdersEquity 0001596532-25-000028	unverified
Net income FY2022	1352446000.0	2022-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-25-000028	unverified
Equity at FY2022 end	4885800000.0	2022-12-31 history	SEC XBRL StockholdersEquity 0001596532-26-000013	unverified
Net income FY2023	2087300000.0	2023-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
Equity at FY2023 end	7219000000.0	2023-12-31 history	SEC XBRL StockholdersEquity 0001596532-26-000013	unverified
Net income FY2024	2852100000.0	2024-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
Equity at FY2024 end	9994800000.0	2024-12-31 history	SEC XBRL StockholdersEquity 0001596532-26-000175	unverified
Net income FY2025	3511400000.0	2025-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
Equity at FY2025 end	12370500000.0	2025-12-31 history	SEC XBRL StockholdersEquity 0001596532-26-000175	unverified
Net income FY2016	184189000.0	2016-12-31 history	SEC XBRL NetIncomeLoss 0001596532-19-000027	unverified
Net income FY2017	423201000.0	2017-12-31 history	SEC XBRL NetIncomeLoss 0001596532-20-000024	unverified
Net income FY2018	328115000.0	2018-12-31 history	SEC XBRL NetIncomeLoss 0001596532-21-000049	unverified
Net income FY2019	859867000.0	2019-12-31 history	SEC XBRL NetIncomeLoss 0001596532-22-000026	unverified
Net income FY2020	634557000.0	2020-12-31 history	SEC XBRL NetIncomeLoss 0001596532-23-000016	unverified
Net income FY2021	840854000.0	2021-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-24-000043	unverified
Net income FY2022	1352446000.0	2022-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-25-000028	unverified
Net income FY2023	2087300000.0	2023-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
Net income FY2024	2852100000.0	2024-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
Net income FY2025	3511400000.0	2025-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
Operating income FY2021	924739000.0	2021-12-31 history	SEC XBRL OperatingIncomeLoss 0001596532-24-000043	unverified
Revenue FY2021	2948037000.0	2021-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0001596532-24-000043	unverified
Operating income FY2022	1527106000.0	2022-12-31 history	SEC XBRL OperatingIncomeLoss 0001596532-25-000028	unverified
Revenue FY2022	4381310000.0	2022-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0001596532-25-000028	unverified
Operating income FY2023	2257300000.0	2023-12-31 history	SEC XBRL OperatingIncomeLoss 0001596532-26-000013	unverified
Revenue FY2023	5860200000.0	2023-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0001596532-26-000013	unverified
Operating income FY2024	2944600000.0	2024-12-31 history	SEC XBRL OperatingIncomeLoss 0001596532-26-000013	unverified
Revenue FY2024	7003100000.0	2024-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0001596532-26-000013	unverified
Operating income FY2025	3856100000.0	2025-12-31 history	SEC XBRL OperatingIncomeLoss 0001596532-26-000013	unverified
Revenue FY2025	9005700000.0	2025-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0001596532-26-000013	unverified
Operating cash flow FY2021	1015856000.0	2021-12-31 history	SEC XBRL NetCashProvidedByUsedInOperatingActivities 0001596532-24-000043	unverified
Capital expenditure FY2021	64736000.0	2021-12-31 history	SEC XBRL PaymentsToAcquireProductiveAssets (10-K via companyfacts; capex fallback) 0001596532-24-000043	unverified
Operating cash flow FY2022	492813000.0	2022-12-31 history	SEC XBRL NetCashProvidedByUsedInOperatingActivities 0001596532-25-000028	unverified
Capital expenditure FY2022	44644000.0	2022-12-31 history	SEC XBRL PaymentsToAcquireProductiveAssets (10-K via companyfacts; capex fallback) 0001596532-25-000028	unverified
Operating cash flow FY2023	2034000000.0	2023-12-31 history	SEC XBRL NetCashProvidedByUsedInOperatingActivities 0001596532-26-000013	unverified
Capital expenditure FY2023	34400000.0	2023-12-31 history	SEC XBRL PaymentsToAcquireProductiveAssets (10-K via companyfacts; capex fallback) 0001596532-26-000013	unverified
Operating cash flow FY2024	3708200000.0	2024-12-31 history	SEC XBRL NetCashProvidedByUsedInOperatingActivities 0001596532-26-000013	unverified
Capital expenditure FY2024	32000000.0	2024-12-31 history	SEC XBRL PaymentsToAcquireProductiveAssets (10-K via companyfacts; capex fallback) 0001596532-26-000013	unverified
Operating cash flow FY2025	4371900000.0	2025-12-31 history	SEC XBRL NetCashProvidedByUsedInOperatingActivities 0001596532-26-000013	unverified
Capital expenditure FY2025	119500000.0	2025-12-31 history	SEC XBRL PaymentsToAcquireProductiveAssets (10-K via companyfacts; capex fallback) 0001596532-26-000013	unverified
Shares outstanding	1261224648.0	2026-07-30	SEC cover page 10-Q 0001596532-26-000175 (1,261,224,648 shares (single class on cover)); filing document https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/anet-20260630.htm 0001596532-26-000175	not cross-checked

Lynch GARP

44 of 100. partial: 4, 6. How this is scored.

Test or factor	Value	Threshold	Points
1 PEG: P/E divided by 5-yr EPS growth (in % points)	1.54	<= 1.0	13.7 / 30
2 EPS growth, 5-yr compound rate	+40.6% a year	12% to 35% a year	15.5 / 20
3 P/E on latest annual EPS	62.7	<= 25	0.0 / 10
4 Borrowings / equity debt unknown: no debt concept reported in the last 18 months	—	<= 0.5	None / 15
5 Years of the last 5 in which EPS rose	5 of 5	5 of 5	15.0 / 15
6 Net cash (cash minus borrowings) / market cap needs market cap, cash and debt	—	>= +10%	None / 10

Inputs, 3 numbers with their sources

Input	Value	Period	Source	Check
Price (close, per traded unit)	172.37	2026-10-23	Alpaca Market Data (consolidated SIP daily bar)	not cross-checked
EPS diluted FY2025	2.75	2025-12-31 history	SEC XBRL EarningsPerShareDiluted 0001596532-26-000013	unverified
EPS diluted FY2020	0.5	2020-12-31 history	SEC XBRL EarningsPerShareDiluted 0001596532-23-000016	unverified

Graham Enterprising

40 of 100. partial: 2. How this is scored.

Test or factor	Value	Threshold	Points
1 Current ratio	2.96	>= 1.5	15.0 / 15
2 Borrowings vs working capital debt unknown: no debt concept reported in the last 18 months	—	<= 1.1x	None / 15
3 No earnings deficit in the last 5 years	5 of 5 profitable	5 of 5	15.0 / 15
4 Pays a current dividend	no	yes	0.0 / 10
5 EPS higher than five years earlier	0.50 -> 2.75	higher	10.0 / 10
6 Price / book value per share book value used because intangibles are not separated in the dataset (Graham uses net tangible assets)	14.69	<= 1.2	0.0 / 20
7 Price / net current asset value per share (current assets minus all liabilities)	19.34	<= 0.67	0.0 / 15

Inputs, 14 numbers with their sources

Input	Value	Period	Source	Check
Price (close, per traded unit)	172.37	2026-10-23	Alpaca Market Data (consolidated SIP daily bar)	not cross-checked
current_assets	20163400000.0	2026-06-30	SEC XBRL AssetsCurrent 0001596532-26-000175	unverified
current_liabilities	6818400000.0	2026-06-30	SEC XBRL LiabilitiesCurrent 0001596532-26-000175	unverified
Net income FY2021	840854000.0	2021-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-24-000043	unverified
Net income FY2022	1352446000.0	2022-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-25-000028	unverified
Net income FY2023	2087300000.0	2023-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
Net income FY2024	2852100000.0	2024-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
Net income FY2025	3511400000.0	2025-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
Dividend years (Yahoo)	[]	history	Yahoo Finance dividend history	not cross-checked
EPS diluted FY2025	2.75	2025-12-31 history	SEC XBRL EarningsPerShareDiluted 0001596532-26-000013	unverified
EPS diluted FY2020	0.5	2020-12-31 history	SEC XBRL EarningsPerShareDiluted 0001596532-23-000016	unverified
equity	14797700000.0	2026-06-30	SEC XBRL StockholdersEquity 0001596532-26-000175	unverified
Shares outstanding	1261224648.0	2026-07-30	SEC cover page 10-Q 0001596532-26-000175 (1,261,224,648 shares (single class on cover)); filing document https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/anet-20260630.htm 0001596532-26-000175	not cross-checked
liabilities	8922400000.0	2026-06-30	SEC XBRL Liabilities 0001596532-26-000175	unverified

Piotroski F-Score

56 of 100. partial: 5. How this is scored.

Test or factor	Value	Threshold	Points
1 Return on assets is positive	18.1%	pass = 1	11.11111111111111 / 11.11111111111111
2 Operating cash flow is positive	4,372M	pass = 1	11.11111111111111 / 11.11111111111111
3 Return on assets improved on the prior year	20.3% -> 18.1%	pass = 1	0.0 / 11.11111111111111
4 Operating cash flow exceeds net income (accruals)	4,372M vs 3,511M	pass = 1	11.11111111111111 / 11.11111111111111
5 Long-term debt / assets fell an input is not reported for one of the two years	—	pass = 1	None / 11.11111111111111
6 Current ratio improved	4.36 -> 3.05	pass = 1	0.0 / 11.11111111111111
7 No new shares issued (share count did not rise)	1,257M -> 1,261M	pass = 1	11.11111111111111 / 11.11111111111111
8 Operating margin improved (stand-in for gross margin, which the dataset does not carry)	42.0% -> 42.8%	pass = 1	11.11111111111111 / 11.11111111111111
9 Asset turnover (revenue / assets) improved	0.50 -> 0.46	pass = 1	0.0 / 11.11111111111111

Inputs, 23 numbers with their sources

Input	Value	Period	Source	Check
net_income 2025-12-31	3511400000.0	2025-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
total_assets 2025-12-31	19448600000.0	2025-12-31 history	SEC XBRL Assets 0001596532-26-000175	unverified
cfo 2025-12-31	4371900000.0	2025-12-31 history	SEC XBRL NetCashProvidedByUsedInOperatingActivities 0001596532-26-000013	unverified
net_income 2025-12-31	3511400000.0	2025-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
net_income 2024-12-31	2852100000.0	2024-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
total_assets 2025-12-31	19448600000.0	2025-12-31 history	SEC XBRL Assets 0001596532-26-000175	unverified
total_assets 2024-12-31	14043900000.0	2024-12-31 history	SEC XBRL Assets 0001596532-26-000013	unverified
cfo 2025-12-31	4371900000.0	2025-12-31 history	SEC XBRL NetCashProvidedByUsedInOperatingActivities 0001596532-26-000013	unverified
net_income 2025-12-31	3511400000.0	2025-12-31 history	SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) 0001596532-26-000013	unverified
current_assets 2025-12-31	16387000000.0	2025-12-31 history	SEC XBRL AssetsCurrent 0001596532-26-000175	unverified
current_assets 2024-12-31	11910900000.0	2024-12-31 history	SEC XBRL AssetsCurrent 0001596532-26-000013	unverified
current_liabilities 2025-12-31	5376500000.0	2025-12-31 history	SEC XBRL LiabilitiesCurrent 0001596532-26-000175	unverified
current_liabilities 2024-12-31	2732200000.0	2024-12-31 history	SEC XBRL LiabilitiesCurrent 0001596532-26-000013	unverified
shares_out 2026-07-30	1261224648.0	2026-07-30 history	SEC XBRL EntityCommonStockSharesOutstanding 0001596532-26-000175	unverified
shares_out 2025-07-31	1256865381.0	2025-07-31 history	SEC XBRL EntityCommonStockSharesOutstanding 0001596532-25-000216	unverified
operating_income 2025-12-31	3856100000.0	2025-12-31 history	SEC XBRL OperatingIncomeLoss 0001596532-26-000013	unverified
operating_income 2024-12-31	2944600000.0	2024-12-31 history	SEC XBRL OperatingIncomeLoss 0001596532-26-000013	unverified
revenue 2025-12-31	9005700000.0	2025-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0001596532-26-000013	unverified
revenue 2024-12-31	7003100000.0	2024-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0001596532-26-000013	unverified
revenue 2025-12-31	9005700000.0	2025-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0001596532-26-000013	unverified
revenue 2024-12-31	7003100000.0	2024-12-31 history	SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax 0001596532-26-000013	unverified
total_assets 2025-12-31	19448600000.0	2025-12-31 history	SEC XBRL Assets 0001596532-26-000175	unverified
total_assets 2024-12-31	14043900000.0	2024-12-31 history	SEC XBRL Assets 0001596532-26-000013	unverified

Earnings record

SEC XBRL, by fiscal year (named by the calendar year it ends in); EPS split-adjusted to today's shares; each row links to the filing.

FY	Ended	Revenue, $M	Net income, $M	EPS diluted	Dividend	Filing
2013	2013-12-31	361	42	0.045	none	0001596532-16-000244
2014	2014-12-31	584	87	0.0806	none	0001596532-17-000019
2015	2015-12-31	838	121	0.1044	none	0001596532-18-000018
2016	2016-12-31	1,129	184	0.1562	none	0001596532-19-000027
2017	2017-12-31	1,646	423	0.3344	none	0001596532-20-000024
2018	2018-12-31	2,151	328	0.2537	none	0001596532-21-000049
2019	2019-12-31	2,411	860	0.665	none	0001596532-22-000026
2020	2020-12-31	2,318	635	0.5	none	0001596532-23-000016
2021	2021-12-31	2,948	841	0.6575	none	0001596532-24-000043
2022	2022-12-31	4,381	1,352	1.07	none	0001596532-25-000028
2023	2023-12-31	5,860	2,087	1.65	none	0001596532-26-000013
2024	2024-12-31	7,003	2,852	2.23	none	0001596532-26-000013
2025	2025-12-31	9,006	3,511	2.75	none	0001596532-26-000013

Insider transactions

SEC Form 4 open-market purchases and sales from the insider data sets; latest 20.

Date	Insider	Role	Type	Shares	Price	Value
2026-10-20	Duda Kenneth	Pres	sale plan	116	182.79	21,204
2026-10-20	Duda Kenneth	Pres	sale plan	3,446	181.78	626,419
2026-10-20	Duda Kenneth	Pres	sale plan	3,742	180.93	677,039
2026-10-20	Duda Kenneth	Pres	sale plan	2,041	180.12	367,625
2026-10-20	Duda Kenneth	Pres	sale plan	281	179.02	50,304
2026-10-20	Duda Kenneth	Pres	sale plan	374	177.91	66,539
2026-10-20	Duda Kenneth	Pres	sale plan	185	182.79	33,817
2026-10-20	Duda Kenneth	Pres	sale plan	5,514	181.78	1,002,343
2026-10-20	Duda Kenneth	Pres	sale plan	5,988	180.93	1,083,408
2026-10-20	Duda Kenneth	Pres	sale plan	3,265	180.12	588,091
2026-10-20	Duda Kenneth	Pres	sale plan	449	179.02	80,379
2026-10-20	Duda Kenneth	Pres	sale plan	599	177.91	106,569
2026-10-20	Duda Kenneth	Pres	sale plan	200	182.79	36,558
2026-10-20	Duda Kenneth	Pres	sale plan	5,973	181.78	1,085,780
2026-10-20	Duda Kenneth	Pres	sale plan	6,487	180.93	1,173,692
2026-10-20	Duda Kenneth	Pres	sale plan	3,538	180.12	637,264
2026-10-20	Duda Kenneth	Pres	sale plan	486	179.02	87,003
2026-10-20	Duda Kenneth	Pres	sale plan	649	177.91	115,464
2026-10-09	Ullal Jayshree	CEO	sale plan	93,241	217.10	20,242,229
2026-10-09	Ullal Jayshree	CEO	sale plan	18,656	217.10	4,050,139

Filings and links

Third-party sites are linked only; nothing from them is stored here.

SEC: filing index, 8-K, Form 4, XBRL companyfacts
Prices: Yahoo Finance, Stooq
Elsewhere: morningstar, finviz, stockanalysis, seeking alpha, openinsider, google news

Cite as: The Claude Trader snapshot 2026-10-26, https://theclaudetrader.com/s/ANET; data from SEC EDGAR XBRL and market prices (Alpaca Market Data, Yahoo Finance) to 2026-10-23. Data last checked 2026-10-26.