Arista Networks (ANET) FY2021 results: revenue $2.9 billion, up 27.2% on the year
Arista Networks, Inc. (ANET) reported revenue of $2.9 billion for fiscal 2021, the year ended 31 December 2021, up 27.2% on the year before. Net income was $841 million, up 32.5%, and diluted earnings per share $0.66. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2022.
Revenue
$2.9 billion
+27.2% on the year
FY2014FY2021
Operating margin
31.4%
30.2% a year earlier
FY2014FY2021
Net income
$841 million
+32.5% on the year
FY2014FY2021
Diluted EPS
$0.66
+31.7% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,016
735
963
+38.2%
Capital expenditure
64.7
15.4
15.8
+320.8%
Free cash flow
951
720
947
+32.1%
Free cash flow margin
32.3%
31.1%
39.3%
Cash from investing
-926
-609
-284
Cash from financing
-361
-346
-218
Depreciation and amortisation
50.3
35.2
32.8
+43.2%
Share-based compensation
187
137
101
+36.4%
Buybacks
412
395
266
+4.2%
Diluted shares, weighted
1,277m
1,271m
1,294m
+0.4%
Shares outstanding at period end
1,231m
1,219m
1,222m
+1.0%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
3,979
3,320
2,895
+19.8%
Debt
0.0
0.0
0.0
Operating lease liabilities
56.5
72.4
83.0
-21.9%
Finance lease liabilities
n/a
n/a
0.0
Other liabilities
1,699
1,346
1,208
+26.2%
Total liabilities and equity
5,734
4,739
4,185
+21.0%
Fixed assets
78.6
32.2
39.3
+144.0%
Goodwill
188
190
54.9
-0.7%
Intangible assets
93.6
123
45.2
-23.8%
Investments
2,808
1,988
1,617
+41.2%
Cash and equivalents
621
893
1,111
-30.5%
Receivables
517
390
392
+32.6%
Inventory
650
480
244
+35.5%
Other assets
779
644
682
+20.9%
Total assets
5,734
4,739
4,185
+21.0%
10-K for the year ended 31 December 2021, filed 15 February 2022: the filing.