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 73,267 139,241 165,004 241,550 - -
Change - -16.05% 97.59% 90.05% 18.5% 46.39% - -
Enterprise Value (EV) 1 40,764 34,058 68,259 130,938 154,261 226,136 221,328 217,043
Change - -16.45% 100.42% 91.82% 17.81% 46.59% -2.13% -1.94%
P/E 54.7x 28.4x 35.8x 49.6x 47.6x 50.4x 39.5x 31.6x
PBR 11.1x 7.61x 10.1x 13.9x 13.3x 14.1x 10.7x 8.15x
PEG - 0.5x 0.7x 1.4x 2x 1.3x 1.4x 1.3x
Capitalization / Revenue 15x 8.46x 12.5x 19.9x 18.3x 19.1x 15x 12.3x
EV / Revenue 13.8x 7.77x 11.6x 18.7x 17.1x 17.9x 13.7x 11x
EV / EBITDA 34.2x 18.3x 25.5x 38.6x 35x 35.8x 26.9x 21.9x
EV / EBIT 35.7x 19x 26.2x 39.4x 35.6x 36.6x 27.8x 22.2x
EV / FCF 42.9x 76x 34.1x 35.6x 36.3x 39.7x 33.2x 27.9x
FCF Yield 2.33% 1.32% 2.93% 2.81% 2.76% 2.52% 3.01% 3.59%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.6575 1.068 1.645 2.23 2.75 3.797 4.844 6.056
Distribution rate - - - - - - - -
Net sales 1 2,948 4,381 5,860 7,003 9,006 12,668 16,157 19,646
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 6,173 7,954 9,796
Net income 1 840.9 1,352 2,087 2,852 3,511 4,872 6,083 7,345
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 58.88 110.53 131.03 191.52 191.52 191.52
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 2/14/22 2/13/23 2/12/24 2/18/25 2/12/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
37.36x7.8x20.16x1.36% 479B
49.72x17.54x35.18x-.--% 238B
22.23x0.92x16.15x2.02% 200B
32.49x10.27x25.3x0.32% 160B
33.91x6.56x18.74x0.99% 77.38B
180.22x23.19x68x-.--% 69.26B
31.06x7.05x23.59x1.33% 59.96B
79.23x9.23x42.6x-.--% 58.38B
38.99x2.05x13.33x1.84% 52.79B
Average 56.13x 9.40x 29.23x 0.87% 154.95B
Weighted average by Cap. 45.18x 9.26x 25.86x 0.98%

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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