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 73,267 139,241 165,004 257,908 - -
Change - -16.05% 97.59% 90.05% 18.5% 56.3% - -
Enterprise Value (EV) 1 40,764 34,058 68,259 130,938 154,261 242,495 237,686 233,401
Change - -16.45% 100.42% 91.82% 17.81% 57.2% -1.98% -1.8%
P/E 54.7x 28.4x 35.8x 49.6x 47.6x 53.6x 41.8x 33.6x
PBR 11.1x 7.61x 10.1x 13.9x 13.3x 14.8x 10.8x 8.02x
PEG - 0.5x 0.7x 1.4x 2x 1.4x 1.5x 1.4x
Capitalization / Revenue 15x 8.46x 12.5x 19.9x 18.3x 20.4x 15.8x 13x
EV / Revenue 13.8x 7.77x 11.6x 18.7x 17.1x 19.1x 14.6x 11.7x
EV / EBITDA 34.2x 18.3x 25.5x 38.6x 35x 38.4x 28.9x 23.6x
EV / EBIT 35.7x 19x 26.2x 39.4x 35.6x 39.4x 29.8x 23.6x
EV / FCF 42.9x 76x 34.1x 35.6x 36.3x 42.4x 35.2x 29.3x
FCF Yield 2.33% 1.32% 2.93% 2.81% 2.76% 2.36% 2.84% 3.41%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.6575 1.068 1.645 2.23 2.75 3.813 4.887 6.094
Distribution rate - - - - - - - -
Net sales 1 2,948 4,381 5,860 7,003 9,006 12,666 16,290 19,900
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 6,151 7,986 9,870
Net income 1 840.9 1,352 2,087 2,852 3,511 4,885 6,143 7,428
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 58.88 110.53 131.03 204.49 204.49 204.49
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.($)
26.51x5.94x15.38x1.57% 429B
53.62x19.15x38.42x-.--% 258B
19.23x0.78x14.05x2.36% 172B
26.15x8.29x20.01x0.47% 142B
49.33x14.52x32.41x-.--% 93.81B
32.42x6.33x18.34x1.08% 74.15B
42.85x2.32x15.01x1.65% 57.93B
28.2x6.37x21.27x1.47% 54.47B
65.37x8.45x37.38x-.--% 53.77B
Average 38.19x 8.02x 23.59x 0.95% 148.28B
Weighted average by Cap. 35.05x 8.66x 22.63x 1.05%

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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