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 73,267 139,241 165,004 232,562 - -
Change - -16.05% 97.59% 90.05% 18.5% 40.94% - -
Enterprise Value (EV) 1 40,764 34,058 68,259 130,938 154,261 217,419 213,338 209,893
Change - -16.45% 100.42% 91.82% 17.81% 40.94% -1.88% -1.61%
P/E 54.7x 28.4x 35.8x 49.6x 47.6x 54.8x 44.1x 35.1x
PBR 11.1x 7.61x 10.1x 13.9x 13.3x 14.1x 11x 8.11x
PEG - 0.5x 0.7x 1.4x 2x 2.4x 1.8x 1.4x
Capitalization / Revenue 15x 8.46x 12.5x 19.9x 18.3x 20.1x 16.2x 13.4x
EV / Revenue 13.8x 7.77x 11.6x 18.7x 17.1x 18.8x 14.9x 12.1x
EV / EBITDA 34.2x 18.3x 25.5x 38.6x 35x 39.3x 31x 25.2x
EV / EBIT 35.7x 19x 26.2x 39.4x 35.6x 40x 31.4x 25.4x
EV / FCF 42.9x 76x 34.1x 35.6x 36.3x 42.4x 38.1x 32.9x
FCF Yield 2.33% 1.32% 2.93% 2.81% 2.76% 2.36% 2.62% 3.04%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.6575 1.068 1.645 2.23 2.75 3.368 4.186 5.258
Distribution rate - - - - - - - -
Net sales 1 2,948 4,381 5,860 7,003 9,006 11,594 14,339 17,315
EBITDA 1 1,191 1,859 2,674 3,389 4,410 5,538 6,875 8,332
EBIT 1 1,141 1,796 2,603 3,327 4,337 5,438 6,800 8,274
Net income 1 840.9 1,352 2,087 2,852 3,511 4,286 5,249 6,290
Net Debt 1 -3,408 -3,024 -5,008 -8,303 -10,743 -15,143 -19,224 -22,669
Reference price 2 35.94 30.34 58.88 110.53 131.03 184.69 184.69 184.69
Nbr of stocks (in thousands) 1,229,134 1,222,290 1,244,401 1,259,760 1,259,285 1,259,203 - -
Announcement Date 2/14/22 A 2/13/23 A 2/12/24 A 2/18/25 A 2/12/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
36.53x7.61x19.65x1.4% 466B
22.7x0.94x16.46x1.95% 203B
43.79x13.43x34.18x0.25% 196B
31.45x5.96x17.45x1.14% 69.26B
44.53x2.86x18.58x1.34% 71.83B
88.83x10.35x47.76x-.--% 65.45B
159.09x20.48x60.14x-.--% 61.13B
25.79x5.58x19.3x1.69% 47.16B
20.15x2.83x13.39x3.03% 47.73B
Average 52.54x 7.78x 27.43x 1.2% 136.44B
Weighted average by Cap. 43.42x 7.59x 24.51x 1.22%

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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