Arista Networks (ANET) FY2024 results: revenue $7.0 billion, up 19.5% on the year
Arista Networks, Inc. (ANET) reported revenue of $7.0 billion for fiscal 2024, the year ended 31 December 2024, up 19.5% on the year before. Net income was $2.9 billion, up 36.6%, and diluted earnings per share $2.23. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2025.
Revenue
$7.0 billion
+19.5% on the year
FY2017FY2024
Operating margin
42.0%
38.5% a year earlier
FY2017FY2024
Net income
$2.9 billion
+36.6% on the year
FY2017FY2024
Diluted EPS
$2.23
+35.6% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
3,708
2,034
493
+82.3%
Capital expenditure
32.0
34.4
44.6
-7.0%
Free cash flow
3,676
2,000
448
+83.8%
Free cash flow margin
52.5%
34.1%
10.2%
Cash from investing
-2,457
-687
216
Cash from financing
-422
-83.7
-655
Depreciation and amortisation
62.0
70.6
62.7
-12.2%
Share-based compensation
355
297
231
+19.7%
Buybacks
424
112
670
+277.3%
Diluted shares, weighted
1,281m
1,269m
1,266m
+1.0%
Shares outstanding at period end
1,261m
1,249m
1,228m
+1.0%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
9,995
7,219
4,886
+38.5%
Debt
0.0
0.0
0.0
Operating lease liabilities
37.5
44.4
44.0
-15.6%
Other liabilities
4,012
2,683
1,846
+49.5%
Total liabilities and equity
14,044
9,947
6,775
+41.2%
Fixed assets
98.8
102
95.0
-2.7%
Goodwill
268
269
266
-0.0%
Intangible assets
62.0
88.8
122
-30.2%
Investments
5,541
3,069
2,391
+80.5%
Cash and equivalents
2,762
1,939
672
+42.5%
Receivables
1,140
1,034
923
+10.3%
Inventory
1,835
1,945
1,290
-5.7%
Other assets
2,336
1,500
1,016
+55.7%
Total assets
14,044
9,947
6,775
+41.2%
10-K for the year ended 31 December 2024, filed 19 February 2025: the filing.