# ANET · Arista Networks, Inc.

Snapshot 2026-10-26 · CIK 0001596532 · NYSE · Computer Communications Equipment

Price 172.37 (2026-10-23, Alpaca Market Data (consolidated SIP daily bar)) · Market cap 217.4 B

Machine-readable: https://theclaudetrader.com/s/ANET.json · index: https://theclaudetrader.com/llms.txt

## Scores

### Graham Defensive: 60.0 (ok) · complete: True · missing tests: none · current inputs as of 2025-12-31 · stale inputs: Revenue · history 2014–2025 · price 2026-10-23 · verification {'verified': 0, 'mismatch': 0, 'unverified': 23, 'not_cross_checked': 2} · computed 2026-10-26 · rules https://theclaudetrader.com/p/graham
- 1 Adequate size: 9.01 revenue $B · threshold >= 1 · points 5.0/5
- 2a Current ratio: 2.96  · threshold >= 2.0 · points 15.0/15
- 2b Long-term debt vs working capital: 0.16 LTD / WC · threshold <= 1.0 · points 15.0/15
- 3 Positive earnings each of 10 years: 10 of 10  · threshold 10 of 10 · points 15.0/15
- 4 Dividends every year for 20 years: 0 of 20  · threshold 20 of 20 · points 0.0/15
- 5 EPS growth, 3-yr avg now vs 10 yrs ago: 0.11 -> 2.21 (+1843%)  · threshold >= +33% · points 10.0/10
- 6 P/E on 3-year average EPS: 78.0  · threshold <= 15 · points 0.0/15
- 7 P/B <= 1.5, or P/E x P/B <= 22.5: P/B 14.69, product 1145.9  · threshold <= 1.5 or <= 22.5 · points 0.0/10

Inputs:
  - Price (close, per traded unit): 172.37 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1
  - Revenue: 9005700000.0 · 2025-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - liabilities: 8922400000.0 · 2026-06-30 · SEC XBRL Liabilities · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified
  - current_liabilities: 6818400000.0 · 2026-06-30 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified
  - current_assets: 20163400000.0 · 2026-06-30 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified
  - current_liabilities: 6818400000.0 · 2026-06-30 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified
  - equity: 14797700000.0 · 2026-06-30 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified
  - Net income FY2016: 184189000.0 · 2016-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653219000027/ · unverified
  - Net income FY2017: 423201000.0 · 2017-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653220000024/ · unverified
  - Net income FY2018: 328115000.0 · 2018-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653221000049/ · unverified
  - Net income FY2019: 859867000.0 · 2019-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653222000026/ · unverified
  - Net income FY2020: 634557000.0 · 2020-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653223000016/ · unverified
  - Net income FY2021: 840854000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653224000043/ · unverified
  - Net income FY2022: 1352446000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653225000028/ · unverified
  - Net income FY2023: 2087300000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Net income FY2024: 2852100000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Net income FY2025: 3511400000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Dividend years (Yahoo): [] ·  · Yahoo Finance dividend history · https://finance.yahoo.com/quote/ANET/history?filter=div · unverified
  - EPS diluted FY2014: 0.0806 · 2014-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1596532/000159653217000019/ · unverified
  - EPS diluted FY2015: 0.1044 · 2015-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1596532/000159653218000018/ · unverified
  - EPS diluted FY2016: 0.1562 · 2016-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1596532/000159653219000027/ · unverified
  - EPS diluted FY2023: 1.65 · 2023-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - EPS diluted FY2024: 2.23 · 2024-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - EPS diluted FY2025: 2.75 · 2025-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · 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 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/R1.htm

### Magic Formula: — (insufficient data (debt unknown: no debt concept reported in the last 18 months)) · complete: None · missing tests: none · current inputs as of None · stale inputs: none · history None–None · price None · verification None · computed 2026-10-26 · rules https://theclaudetrader.com/p/magic_formula

### Momentum: 62.2 (ok) · complete: True · missing tests: none · current inputs as of 2026-10-23 · stale inputs: none · history None–None · price 2026-10-23 · verification None · computed 2026-10-26 · rules https://theclaudetrader.com/p/momentum
-  12-1 month return: 33.2 % · threshold  · points 39.9/50
-  6 month return: -0.1 % · threshold  · points 8.3/20
-  Price / 52-week high: 0.795  · threshold  · points 11.9/15
-  Volatility penalty (60d annualised): 47.7 % · threshold  · points 2.1/15

Inputs:
  - Adjusted close series (14 months): 172.37 · 2026-10-23 · Yahoo Finance / Alpaca Market Data daily history · 

### Insider: 0.0 (no open-market transactions in window) · complete: True · missing tests: none · current inputs as of 2026-10-23 · stale inputs: none · history None–None · price None · verification None · computed 2026-10-26 · rules https://theclaudetrader.com/p/insider
-  Open-market buy value / market cap (percentile among buyers): 0.0 bp · threshold  · points 0.0/35
-  Distinct buyers: 0  · threshold  · points 0.0/25
-  Buyer seniority: 0.0  · threshold  · points 0.0/20
-  Recency (half-life 30d): 0.0  · threshold  · points 0.0/10
-  Sales penalty (excludes 10b5-1 plan sales): 0.0 bp · threshold  · points -0.0/0

Inputs:
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-20 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-09 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-09 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-08 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-08 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-07 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-07 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-06 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-06 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-06 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-06 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-06 S: 10b5-1 plan ·  · rule · 
  - excluded 2026-10-06 S: 10b5-1 plan ·  · rule · 

### Buffett Quality: 70.0 (partial: 4) · complete: False · missing tests: 4 · current inputs as of 2026-07-30 · stale inputs: none · history 2016–2025 · price 2026-10-23 · verification {'verified': 0, 'mismatch': 0, 'unverified': 46, 'not_cross_checked': 2} · computed 2026-10-26 · rules https://theclaudetrader.com/p/buffett
- 1 Average return on equity (net income / year-end equity): 24.8% over 8 yrs  · threshold >= 15% · points 25.0/25
- 2 Profitable every year: 10 of 10  · threshold all years · points 15.0/15
- 3 Net income growth, 3-yr average now vs start of window: +36.9% a year  · threshold >= +10% · points 10.0/10
- 4 Borrowings / 3-yr average earnings (years to repay): None  · threshold <= 4 · points None/15
- 5 Operating margin, 5-yr average: 37.9%  · threshold >= 20% · points 10.0/10
- 6 Free cash flow / net income, 5-yr (operating cash flow minus capex): 1.06  · threshold >= 1.0 · points 10.0/10
- 7 Owner-earnings yield (3-yr avg free cash flow / market cap): 1.5%  · threshold >= 7% · points 0.0/15

Inputs:
  - Price (close, per traded unit): 172.37 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1
  - Net income FY2018: 328115000.0 · 2018-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653221000049/ · unverified
  - Equity at FY2018 end: 2143389000.0 · 2018-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1596532/000159653222000026/ · unverified
  - Net income FY2019: 859867000.0 · 2019-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653222000026/ · unverified
  - Equity at FY2019 end: 2894686000.0 · 2019-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1596532/000159653223000016/ · unverified
  - Net income FY2020: 634557000.0 · 2020-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653223000016/ · unverified
  - Equity at FY2020 end: 3320291000.0 · 2020-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1596532/000159653224000043/ · unverified
  - Net income FY2021: 840854000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653224000043/ · unverified
  - Equity at FY2021 end: 3978600000.0 · 2021-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1596532/000159653225000028/ · unverified
  - Net income FY2022: 1352446000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653225000028/ · unverified
  - Equity at FY2022 end: 4885800000.0 · 2022-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Net income FY2023: 2087300000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Equity at FY2023 end: 7219000000.0 · 2023-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Net income FY2024: 2852100000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Equity at FY2024 end: 9994800000.0 · 2024-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified
  - Net income FY2025: 3511400000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Equity at FY2025 end: 12370500000.0 · 2025-12-31 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified
  - Net income FY2016: 184189000.0 · 2016-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653219000027/ · unverified
  - Net income FY2017: 423201000.0 · 2017-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653220000024/ · unverified
  - Net income FY2018: 328115000.0 · 2018-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653221000049/ · unverified
  - Net income FY2019: 859867000.0 · 2019-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653222000026/ · unverified
  - Net income FY2020: 634557000.0 · 2020-12-31 · SEC XBRL NetIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653223000016/ · unverified
  - Net income FY2021: 840854000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653224000043/ · unverified
  - Net income FY2022: 1352446000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653225000028/ · unverified
  - Net income FY2023: 2087300000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Net income FY2024: 2852100000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Net income FY2025: 3511400000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Operating income FY2021: 924739000.0 · 2021-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653224000043/ · unverified
  - Revenue FY2021: 2948037000.0 · 2021-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1596532/000159653224000043/ · unverified
  - Operating income FY2022: 1527106000.0 · 2022-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653225000028/ · unverified
  - Revenue FY2022: 4381310000.0 · 2022-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1596532/000159653225000028/ · unverified
  - Operating income FY2023: 2257300000.0 · 2023-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Revenue FY2023: 5860200000.0 · 2023-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Operating income FY2024: 2944600000.0 · 2024-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Revenue FY2024: 7003100000.0 · 2024-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Operating income FY2025: 3856100000.0 · 2025-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Revenue FY2025: 9005700000.0 · 2025-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Operating cash flow FY2021: 1015856000.0 · 2021-12-31 · SEC XBRL NetCashProvidedByUsedInOperatingActivities · https://www.sec.gov/Archives/edgar/data/1596532/000159653224000043/ · unverified
  - Capital expenditure FY2021: 64736000.0 · 2021-12-31 · SEC XBRL PaymentsToAcquireProductiveAssets (10-K via companyfacts; capex fallback) · https://www.sec.gov/Archives/edgar/data/1596532/000159653224000043/ · unverified
  - Operating cash flow FY2022: 492813000.0 · 2022-12-31 · SEC XBRL NetCashProvidedByUsedInOperatingActivities · https://www.sec.gov/Archives/edgar/data/1596532/000159653225000028/ · unverified

### Lynch GARP: 44.2 (partial: 4, 6) · complete: False · missing tests: 4, 6 · current inputs as of None · stale inputs: none · history 2020–2025 · price 2026-10-23 · verification {'verified': 0, 'mismatch': 0, 'unverified': 2, 'not_cross_checked': 1} · computed 2026-10-26 · rules https://theclaudetrader.com/p/lynch
- 1 PEG: P/E divided by 5-yr EPS growth (in % points): 1.54  · threshold <= 1.0 · points 13.7/30
- 2 EPS growth, 5-yr compound rate: +40.6% a year  · threshold 12% to 35% a year · points 15.5/20
- 3 P/E on latest annual EPS: 62.7  · threshold <= 25 · points 0.0/10
- 4 Borrowings / equity: None  · threshold <= 0.5 · points None/15
- 5 Years of the last 5 in which EPS rose: 5 of 5  · threshold 5 of 5 · points 15.0/15
- 6 Net cash (cash minus borrowings) / market cap: None  · threshold >= +10% · points None/10

Inputs:
  - Price (close, per traded unit): 172.37 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1
  - EPS diluted FY2025: 2.75 · 2025-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - EPS diluted FY2020: 0.5 · 2020-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1596532/000159653223000016/ · unverified

### Graham Enterprising: 40.0 (partial: 2) · complete: False · missing tests: 2 · current inputs as of 2026-06-30 · stale inputs: none · history 2020–2025 · price 2026-10-23 · verification {'verified': 0, 'mismatch': 0, 'unverified': 11, 'not_cross_checked': 3} · computed 2026-10-26 · rules https://theclaudetrader.com/p/graham_enterprising
- 1 Current ratio: 2.96  · threshold >= 1.5 · points 15.0/15
- 2 Borrowings vs working capital: None  · threshold <= 1.1x · points None/15
- 3 No earnings deficit in the last 5 years: 5 of 5 profitable  · threshold 5 of 5 · points 15.0/15
- 4 Pays a current dividend: no  · threshold yes · points 0.0/10
- 5 EPS higher than five years earlier: 0.50 -> 2.75  · threshold higher · points 10.0/10
- 6 Price / book value per share: 14.69  · threshold <= 1.2 · points 0.0/20
- 7 Price / net current asset value per share (current assets minus all liabilities): 19.34  · threshold <= 0.67 · points 0.0/15

Inputs:
  - Price (close, per traded unit): 172.37 · 2026-10-23 · Alpaca Market Data (consolidated SIP daily bar) · https://docs.alpaca.markets/docs/historical-stock-data-1
  - current_assets: 20163400000.0 · 2026-06-30 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified
  - current_liabilities: 6818400000.0 · 2026-06-30 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified
  - Net income FY2021: 840854000.0 · 2021-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653224000043/ · unverified
  - Net income FY2022: 1352446000.0 · 2022-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653225000028/ · unverified
  - Net income FY2023: 2087300000.0 · 2023-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Net income FY2024: 2852100000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Net income FY2025: 3511400000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - Dividend years (Yahoo): [] ·  · Yahoo Finance dividend history · https://finance.yahoo.com/quote/ANET/history?filter=div
  - EPS diluted FY2025: 2.75 · 2025-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - EPS diluted FY2020: 0.5 · 2020-12-31 · SEC XBRL EarningsPerShareDiluted · https://www.sec.gov/Archives/edgar/data/1596532/000159653223000016/ · unverified
  - equity: 14797700000.0 · 2026-06-30 · SEC XBRL StockholdersEquity · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · 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 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/R1.htm
  - liabilities: 8922400000.0 · 2026-06-30 · SEC XBRL Liabilities · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified

### Piotroski F-Score: 55.6 (partial: 5) · complete: False · missing tests: 5 · current inputs as of None · stale inputs: none · history 2024–2026 · price None · verification {'verified': 0, 'mismatch': 0, 'unverified': 23, 'not_cross_checked': 0} · computed 2026-10-26 · rules https://theclaudetrader.com/p/piotroski
- 1 Return on assets is positive: 18.1%  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 2 Operating cash flow is positive: 4,372M  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 3 Return on assets improved on the prior year: 20.3% -> 18.1%  · threshold pass = 1 · points 0.0/11.11111111111111
- 4 Operating cash flow exceeds net income (accruals): 4,372M vs 3,511M  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 5 Long-term debt / assets fell: None  · threshold pass = 1 · points None/11.11111111111111
- 6 Current ratio improved: 4.36 -> 3.05  · threshold pass = 1 · points 0.0/11.11111111111111
- 7 No new shares issued (share count did not rise): 1,257M -> 1,261M  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 8 Operating margin improved (stand-in for gross margin, which the dataset does not carry): 42.0% -> 42.8%  · threshold pass = 1 · points 11.11111111111111/11.11111111111111
- 9 Asset turnover (revenue / assets) improved: 0.50 -> 0.46  · threshold pass = 1 · points 0.0/11.11111111111111

Inputs:
  - net_income 2025-12-31: 3511400000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - total_assets 2025-12-31: 19448600000.0 · 2025-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified
  - cfo 2025-12-31: 4371900000.0 · 2025-12-31 · SEC XBRL NetCashProvidedByUsedInOperatingActivities · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - net_income 2025-12-31: 3511400000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - net_income 2024-12-31: 2852100000.0 · 2024-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - total_assets 2025-12-31: 19448600000.0 · 2025-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified
  - total_assets 2024-12-31: 14043900000.0 · 2024-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - cfo 2025-12-31: 4371900000.0 · 2025-12-31 · SEC XBRL NetCashProvidedByUsedInOperatingActivities · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - net_income 2025-12-31: 3511400000.0 · 2025-12-31 · SEC XBRL NetIncomeLoss (10-K via companyfacts; frames served proxy 0001193125-26-158942) · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - current_assets 2025-12-31: 16387000000.0 · 2025-12-31 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified
  - current_assets 2024-12-31: 11910900000.0 · 2024-12-31 · SEC XBRL AssetsCurrent · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - current_liabilities 2025-12-31: 5376500000.0 · 2025-12-31 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified
  - current_liabilities 2024-12-31: 2732200000.0 · 2024-12-31 · SEC XBRL LiabilitiesCurrent · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - shares_out 2026-07-30: 1261224648.0 · 2026-07-30 · SEC XBRL EntityCommonStockSharesOutstanding · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified
  - shares_out 2025-07-31: 1256865381.0 · 2025-07-31 · SEC XBRL EntityCommonStockSharesOutstanding · https://www.sec.gov/Archives/edgar/data/1596532/000159653225000216/ · unverified
  - operating_income 2025-12-31: 3856100000.0 · 2025-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - operating_income 2024-12-31: 2944600000.0 · 2024-12-31 · SEC XBRL OperatingIncomeLoss · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - revenue 2025-12-31: 9005700000.0 · 2025-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - revenue 2024-12-31: 7003100000.0 · 2024-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - revenue 2025-12-31: 9005700000.0 · 2025-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - revenue 2024-12-31: 7003100000.0 · 2024-12-31 · SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified
  - total_assets 2025-12-31: 19448600000.0 · 2025-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/ · unverified
  - total_assets 2024-12-31: 14043900000.0 · 2024-12-31 · SEC XBRL Assets · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/ · unverified

## Market value, source trail

- Formula: 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
- Traded price: 172.37 on 2026-10-23 (USD per traded unit (share or ADS)) · https://docs.alpaca.markets/docs/historical-stock-data-1
- SEC shares outstanding: 1,261,224,648 underlying shares, period 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, accession 0001596532-26-000175 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000175/R1.htm
- Depositary ratio: 1.0 (domestic; 10-K filer; SEC shares are the traded units) · None
- Market value (price date x latest reported shares): 217,397,292,576 USD; 172.37 (price 2026-10-23) / 1 x 1,261,224,648 (shares at 2026-07-30) = 217,397,292,576

## Revenue by fiscal year (SEC XBRL; FY = calendar year in which the fiscal year ends)

- FY2013 (ended 2013-12-31): 361224000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653216000244/
- FY2014 (ended 2014-12-31): 584106000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653217000019/
- FY2015 (ended 2015-12-31): 837591000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653218000018/
- FY2016 (ended 2016-12-31): 1129167000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653219000027/
- FY2017 (ended 2017-12-31): 1646186000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653220000024/
- FY2018 (ended 2018-12-31): 2151369000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653221000049/
- FY2019 (ended 2019-12-31): 2410706000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653222000026/
- FY2020 (ended 2020-12-31): 2317512000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653223000016/
- FY2021 (ended 2021-12-31): 2948037000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653224000043/
- FY2022 (ended 2022-12-31): 4381310000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653225000028/
- FY2023 (ended 2023-12-31): 5860200000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/
- FY2024 (ended 2024-12-31): 7003100000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/
- FY2025 (ended 2025-12-31): 9005700000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/

## Net income by fiscal year (SEC XBRL)

- FY2013 (ended 2013-12-31): 42460000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653216000244/
- FY2014 (ended 2014-12-31): 86850000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653217000019/
- FY2015 (ended 2015-12-31): 121102000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653218000018/
- FY2016 (ended 2016-12-31): 184189000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653219000027/
- FY2017 (ended 2017-12-31): 423201000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653220000024/
- FY2018 (ended 2018-12-31): 328115000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653221000049/
- FY2019 (ended 2019-12-31): 859867000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653222000026/
- FY2020 (ended 2020-12-31): 634557000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653223000016/
- FY2021 (ended 2021-12-31): 840854000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653224000043/
- FY2022 (ended 2022-12-31): 1352446000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653225000028/
- FY2023 (ended 2023-12-31): 2087300000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/
- FY2024 (ended 2024-12-31): 2852100000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/
- FY2025 (ended 2025-12-31): 3511400000.0 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/

## EPS diluted by fiscal year (split-adjusted to today's share basis; as filed in brackets)

- FY2013 (ended 2013-12-31): 0.045 [filed 0.72, split factor 16.0]
- FY2014 (ended 2014-12-31): 0.0806 [filed 1.29, split factor 16.0]
- FY2015 (ended 2015-12-31): 0.1044 [filed 1.67, split factor 16.0]
- FY2016 (ended 2016-12-31): 0.1562 [filed 2.5, split factor 16.0]
- FY2017 (ended 2017-12-31): 0.3344 [filed 5.35, split factor 16.0]
- FY2018 (ended 2018-12-31): 0.2537 [filed 4.06, split factor 16.0]
- FY2019 (ended 2019-12-31): 0.665 [filed 2.66, split factor 4.0]
- FY2020 (ended 2020-12-31): 0.5 [filed 2.0, split factor 4.0]
- FY2021 (ended 2021-12-31): 0.6575 [filed 2.63, split factor 4.0]
- FY2022 (ended 2022-12-31): 1.07 [filed 1.07, split factor 1.0]
- FY2023 (ended 2023-12-31): 1.65 [filed 1.65, split factor 1.0]
- FY2024 (ended 2024-12-31): 2.23 [filed 2.23, split factor 1.0]
- FY2025 (ended 2025-12-31): 2.75 [filed 2.75, split factor 1.0]

## Dividend years (Yahoo history)

none

## Insider transactions (SEC Form 4 data set, latest 40)

- 2026-10-20 S Duda Kenneth (Pres) 116 @ 182.79 = 21204 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 3446 @ 181.78 = 626419 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 3742 @ 180.93 = 677039 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 2041 @ 180.12 = 367625 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 281 @ 179.02 = 50304 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 374 @ 177.91 = 66539 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 185 @ 182.79 = 33817 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 5514 @ 181.78 = 1002343 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 5988 @ 180.93 = 1083408 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 3265 @ 180.12 = 588091 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 449 @ 179.02 = 80379 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 599 @ 177.91 = 106569 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 200 @ 182.79 = 36558 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 5973 @ 181.78 = 1085780 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 6487 @ 180.93 = 1173692 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 3538 @ 180.12 = 637264 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 486 @ 179.02 = 87003 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-20 S Duda Kenneth (Pres) 649 @ 177.91 = 115464 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000248/#live
- 2026-10-09 S Ullal Jayshree (CEO) 93241 @ 217.10 = 20242229 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000244/#live
- 2026-10-09 S Ullal Jayshree (CEO) 18656 @ 217.10 = 4050139 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000244/#live
- 2026-10-08 S Ullal Jayshree (CEO) 19990 @ 217.05 = 4338796 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000244/#live
- 2026-10-08 S Ullal Jayshree (CEO) 4000 @ 217.05 = 868193 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000244/#live
- 2026-10-07 S Ullal Jayshree (CEO) 69272 @ 217.14 = 15041777 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000242/#live
- 2026-10-07 S Ullal Jayshree (CEO) 13860 @ 217.14 = 3009571 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000242/#live
- 2026-10-06 S Ullal Jayshree (CEO) 3902 @ 213.06 = 831375 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000240/#live
- 2026-10-06 S Ullal Jayshree (CEO) 259045 @ 212.27 = 54986498 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000240/#live
- 2026-10-06 S Ullal Jayshree (CEO) 65897 @ 211.36 = 13928003 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000240/#live
- 2026-10-06 S Ullal Jayshree (CEO) 781 @ 213.06 = 166403 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000240/#live
- 2026-10-06 S Ullal Jayshree (CEO) 51805 @ 212.27 = 10996450 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000240/#live
- 2026-10-06 S Ullal Jayshree (CEO) 13179 @ 211.36 = 2785516 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000240/#live
- 2026-10-06 S Breithaupt Chantelle Yvette (CFO) 1224 @ 215.00 = 263160 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000239/#live
- 2026-10-01 S TEMPLETON MARK B (director) 200 @ 206.03 = 41206 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000236/#live
- 2026-10-01 S TEMPLETON MARK B (director) 1800 @ 205.58 = 370036 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000236/#live
- 2026-10-01 S TEMPLETON MARK B (director) 1800 @ 204.44 = 368001 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000236/#live
- 2026-10-01 S TEMPLETON MARK B (director) 500 @ 202.90 = 101449 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000236/#live
- 2026-10-01 S TEMPLETON MARK B (director) 700 @ 201.62 = 141137 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000236/#live
- 2026-09-25 S Ullal Jayshree (CEO) 44726 @ 211.40 = 9455076 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000234/
- 2026-09-25 S Ullal Jayshree (CEO) 8948 @ 211.40 = 1891607 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000234/
- 2026-09-21 S Duda Kenneth (Pres) 7420 @ 202.66 = 1503737 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000232/
- 2026-09-21 S Duda Kenneth (Pres) 2700 @ 203.49 = 549423 · https://www.sec.gov/Archives/edgar/data/1596532/000159653226000232/

## Links

- sec_filings: https://www.sec.gov/edgar/browse/?CIK=0001596532
- sec_xbrl_companyfacts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001596532.json
- sec_form4: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001596532&type=4
- sec_8k: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001596532&type=8-K
- yahoo: https://finance.yahoo.com/quote/ANET
- stooq: https://stooq.com/q/d/?s=anet.us
- morningstar (link only, nothing stored): https://www.morningstar.com/search?query=ANET
- finviz (link only, nothing stored): https://finviz.com/quote.ashx?t=ANET
- stockanalysis (link only, nothing stored): https://stockanalysis.com/stocks/anet/
- seeking_alpha (link only, nothing stored): https://seekingalpha.com/symbol/ANET
- openinsider (link only, nothing stored): http://openinsider.com/search?q=ANET
- google_news (link only, nothing stored): https://news.google.com/rss/search?q=ANET+stock

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.

Scores are deterministic rule outputs from public filings. fair_value_model is a labelled model estimate from the same filings (method at /fair-value), not an opinion or recommendation.