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 73,267 139,241 165,004 213,699 - -
Change - -16.05% 97.59% 90.05% 18.5% 29.51% - -
Enterprise Value (EV) 1 40,764 34,058 68,259 130,938 154,261 198,429 194,306 190,863
Change - -16.45% 100.42% 91.82% 17.81% 28.63% -2.08% -1.77%
P/E 54.7x 28.4x 35.8x 49.6x 47.6x 50.3x 40.6x 32.4x
PBR 11.1x 7.61x 10.1x 13.9x 13.3x 12.9x 10.1x 7.36x
PEG - 0.5x 0.7x 1.4x 2x 2.2x 1.7x 1.3x
Capitalization / Revenue 15x 8.46x 12.5x 19.9x 18.3x 18.4x 14.9x 12.2x
EV / Revenue 13.8x 7.77x 11.6x 18.7x 17.1x 17.1x 13.5x 10.9x
EV / EBITDA 34.2x 18.3x 25.5x 38.6x 35x 35.7x 28.1x 22.6x
EV / EBIT 35.7x 19x 26.2x 39.4x 35.6x 36.4x 28.5x 22.7x
EV / FCF 42.9x 76x 34.1x 35.6x 36.3x 38.7x 34.5x 29.5x
FCF Yield 2.33% 1.32% 2.93% 2.81% 2.76% 2.59% 2.9% 3.39%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.6575 1.068 1.645 2.23 2.75 3.373 4.184 5.235
Distribution rate - - - - - - - -
Net sales 1 2,948 4,381 5,860 7,003 9,006 11,617 14,378 17,478
EBITDA 1 1,191 1,859 2,674 3,389 4,410 5,564 6,914 8,431
EBIT 1 1,141 1,796 2,603 3,327 4,337 5,457 6,817 8,410
Net income 1 840.9 1,352 2,087 2,852 3,511 4,292 5,246 6,268
Net Debt 1 -3,408 -3,024 -5,008 -8,303 -10,743 -15,271 -19,393 -22,836
Reference price 2 35.94 30.34 58.88 110.53 131.03 169.71 169.71 169.71
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.($)
35.55x7.44x19.21x1.43% 456B
18.93x0.78x13.72x2.37% 170B
32.09x10.24x25.46x0.33% 157B
33.19x6.29x18.41x1.08% 73.09B
131.99x17x49.85x-.--% 50.72B
38.35x1.96x12.77x1.92% 49.94B
67.34x7.85x36.21x-.--% 49.62B
17.8x2.87x12.35x3.96% 48.93B
27.07x5.8x20.06x1.63% 48.92B
Average 44.70x 6.69x 23.11x 1.41% 122.66B
Weighted average by Cap. 37.16x 6.67x 20.81x 1.41%

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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