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 73,267 139,241 165,004 245,888 - -
Change - -16.05% 97.59% 90.05% 18.5% 49.02% - -
Enterprise Value (EV) 1 40,764 34,058 68,259 130,938 154,261 230,475 225,666 221,381
Change - -16.45% 100.42% 91.82% 17.81% 49.41% -2.09% -1.9%
P/E 54.7x 28.4x 35.8x 49.6x 47.6x 51.4x 40.4x 32.4x
PBR 11.1x 7.61x 10.1x 13.9x 13.3x 14.3x 10.9x 8.32x
PEG - 0.5x 0.7x 1.4x 2x 1.4x 1.5x 1.3x
Capitalization / Revenue 15x 8.46x 12.5x 19.9x 18.3x 19.4x 15.2x 12.5x
EV / Revenue 13.8x 7.77x 11.6x 18.7x 17.1x 18.2x 14x 11.3x
EV / EBITDA 34.2x 18.3x 25.5x 38.6x 35x 36.5x 27.4x 22.4x
EV / EBIT 35.7x 19x 26.2x 39.4x 35.6x 37.5x 28.4x 22.6x
EV / FCF 42.9x 76x 34.1x 35.6x 36.3x 40.5x 33.8x 28.4x
FCF Yield 2.33% 1.32% 2.93% 2.81% 2.76% 2.47% 2.95% 3.52%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.6575 1.068 1.645 2.23 2.75 3.792 4.83 6.012
Distribution rate - - - - - - - -
Net sales 1 2,948 4,381 5,860 7,003 9,006 12,666 16,156 19,648
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 6,147 7,954 9,796
Net income 1 840.9 1,352 2,087 2,852 3,511 4,865 6,078 7,333
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 58.88 110.53 131.03 194.96 194.96 194.96
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 14/2/22 13/2/23 12/2/24 18/2/25 12/2/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
51.41x18.2x36.52x-.--% 246B
26.81x5.96x15.44x1.56% 430B
21.83x0.88x15.66x2.12% 191B
29.19x9.24x22.3x0.44% 158B
46.16x13.7x31.07x-.--% 87.77B
33.6x6.52x18.63x1% 76.62B
43.9x2.32x15.13x1.64% 59.79B
27.53x6.21x20.73x1.5% 53.17B
17.12x2.65x11.4x4.29% 45.95B
59.25x7.63x33.75x-.--% 48.4B
Average 35.68x 7.33x 22.06x 1.26% 139.74B
Weighted average by Cap. 33.88x 8.11x 21.80x 1.14%

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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