Arista Networks, Inc. (ANET)财务
NYSE · Technology · Computer Hardware · 员工5,115人 · CEO Jayshree V. Ullal
- 股价
- $168.86 -8.34%
- 市值
- $2130亿
- 企业价值
- $2110亿
- 最近财报
- Q2 '26 2026-08-05提交
- 下次财报
- 2026-11-03 EPS预期 $1.08
营收(TTM)$105亿+32.6% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)43.1%0.0 百分点 对比去年同期营业利润 $45.5亿
净利润(TTM)$40.4亿+24.4% 对比去年同期税后,含营业外收益
自由现金流(TTM)$51.6亿+29.7% 对比去年同期资本支出 $1.51亿
稀释EPS(TTM)$3.17+24.8% 对比去年同期最近4个季度之和
净现金$133亿+50.9% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $2130亿 EV $2110亿
- 营收
- $105亿 过去12个月
- 营收增速
- +41% FY2026年一致预期
- 净利润率
- 38.4% 净利润 / 营收,TTM
- P/E
- 52.6× 预期 41.0×(FY2026)
- P/S
- 20.2× 股价 / 营收,TTM
- EV / EBITDA
- 41.4× TTM
- 自由现金流
- $51.6亿 过去12个月
- 净利润
- $40.4亿 过去12个月
- 营收预期
- $127亿 FY2026年一致预期
- 盈利
- 2026-11-03 营收预期 $33.3亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-04):营收超预期7.3%,EPS 超预期15.1%营收$30.4亿,预期$28.3亿(+7.3%);EPS $1.02,预期$0.89(+15.1%)。
- 营收增长加速:同比37.7%Q2 '26营收$30.4亿,此前四个季度的平均值为30.5%。
- 营业利润率43.1%(TTM),较去年同期0.0 百分点营收增长32.6%,营业利润增长32.6%。
- 资本支出占营收的1.4%(去年为0.9%)最近4个季度投入$1.51亿(同比+110.6%)。自由现金流$51.6亿,相当于净利润的127.5%。
- 股东回报$6.2亿 = 自由现金流的12.0%回购$6.2亿(去年为$11.7亿),股息$0,股权激励$5.02亿(TTM)。
- 稀释股数一年内增加0.3%Q2 '26稀释股数12.7亿,一年前为12.7亿。
- 净现金 $133亿现金 + 短期投资 $133亿,含租赁债务 $0;一年前净现金 $88.4亿。
上一季度:Q2 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $30.4亿 | $22亿 | +37.7% |
| 毛利率 | 62.9% | 65.2% | -2.3 百分点 |
| 营业利润 | $13.8亿 | $9.86亿 | +39.7% |
| 营业利润率 | 45.4% | 44.7% | +0.7 百分点 |
| 净利润 | $12.1亿 | $8.89亿 | +36.5% |
| 稀释EPS | $0.95 | $0.70 | +35.7% |
| 经营现金流 | $10.8亿 | $12亿 | -9.8% |
| 资本支出 | $2970万 | $2400万 | +23.8% |
| 自由现金流 | $10.5亿 | $11.8亿 | -10.4% |
| R&D | $3.48亿 | $2.97亿 | +17.4% |
| 股权激励费用 | $1.2亿 | $8520万 | +41.3% |
实际 vs 一致预期
2026-08-04| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $30.4亿 | $28.3亿 | +7.3% |
| EPS(一致预期口径) | $1.02 | $0.89 | +15.1% |
来自2026-08-04发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Product | $26.1亿 | +38.8% | 85.8% | $89.2亿 | +33.2% | |
| Service | $4.31亿 | +31.3% | 14.2% | $16.2亿 | +29.4% |
按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Americas | $23.4亿 | +35.6% | 77.0% | $84.3亿 | +31.2% | |
| EMEA | $4.38亿 | +55.6% | 14.4% | $12.9亿 | +51.6% | |
| Asia Pacific | $2.6亿 | +30.4% | 8.6% | $8.26亿 | +21.5% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $53.1亿
- 资本支出
- -$1.51亿
- 股票回购
- -$6.2亿
- 股息
- $0
- 收购
- -$3亿
- 债务净发行
- $0
- 股权激励费用
- $5.02亿
- 自由现金流
- $51.6亿
- 股东回报 / FCF
- 12.0%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 52.6× | 42.0× | 27.6× – 52.1× |
| EV / EBITDA | 41.4× | 34.7× | 22.2× – 44.3× |
| EV / 营收 | 20.0× | 14.5× | 8.3× – 19.4× |
| 股价 / FCF | 41.3× | 48.5× | 36.4× – 83.0× |
| 股价 / 净资产 | 14.4× | 11.2× | 7.6× – 13.9× |
| FCF收益率 | 2.4% | 2.3% | 1.2% – 2.7% |
| 投入资本回报率 | 21.8% | 22.3% | 18.1% – 24.2% |
| 净资产收益率 | 30.8% | 26.9% | 21.1% – 28.9% |
分析师
一致目标价 $226.64 (+34.2%)
区间 $164.00 – $289.00 · 评级 Buy
强烈买入0
买入41
持有12
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $127亿 | +40.8% | $4.11 | +49.6% | 41.0× | 18 |
| FY2027 | $165亿 | +30.4% | $5.25 | +27.6% | 32.2× | 18 |
| FY2028 | $206亿 | +24.3% | $6.60 | +25.8% | 25.6× | 12 |
| FY2029 | $255亿 | +23.9% | $8.02 | +21.5% | 21.1× | 9 |
| FY2030 | $334亿 | +30.9% | $10.17 | +26.7% | 16.6× | 5 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Arista Networks, Inc.在近期10-Q / 10-K文件中标记的全部214项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $6.93亿 | $5.44亿 | +27.4% | $6.52亿 | $3.81亿 | +71.0% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $22.7亿 | $16.2亿 | +39.6% | $18.9亿 | $11.4亿 | +65.4% |
| Accrued Liabilities, Current | $4.87亿 | $3.81亿 | +27.8% | $4.75亿 | $4.35亿 | +9.2% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $2.65亿 | $2.33亿 | +13.4% | $2.49亿 | $2.19亿 | +13.4% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$4050万 | $380万 | -1,165.8% | $1200万 | -$1320万 | +190.9% |
| Additional Paid in Capital | $31.6亿 | $26.4亿 | +19.7% | $29.1亿 | $24.7亿 | +18.1% |
| Amortization of Intangible Assets | -$1.45亿2025-12-31 | $673万 | -2,248.6% | $4160万 | $2680万 | +55.2% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 320万 | -100.0% | 120万 | 30万 | +300.0% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $1.2亿 | $8520万 | +41.3% | $4.39亿 | $3.55亿 | +23.6% |
| Assets | $237亿 | $165亿 | +43.5% | $194亿 | $140亿 | +38.5% |
| Assets, Current | $202亿 | $135亿 | +49.3% | $164亿 | $119亿 | +37.6% |
| Assets, Fair Value Disclosure | $118亿 | $76.6亿 | +54.4% | $101亿 | $72.8亿 | +38.9% |
| Cash and Cash Equivalents, at Carrying Value | $22.9亿 | $22.3亿 | +2.9% | $19.6亿 | $27.6亿 | -28.9% |
| Cash and Cash Equivalents, Fair Value Disclosure | $7.67亿 | $10.4亿 | -26.1% | $13.4亿 | $17.4亿 | -23.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $22.9亿 | $22.3亿 | +2.9% | $19.7亿 | $27.6亿 | -28.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$4.99亿 | $3.8亿 | -231.3% | -$7.99亿 | $8.24亿 | -196.9% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 40亿 | 40亿 | 0.0% | 40亿 | 40亿 | 0.0% |
| Common Stock, Shares, Issued | 12.6亿 | 12.6亿 | +0.4% | 12.6亿 | 12.6亿 | -0.4% |
| Common Stock, Shares, Outstanding | 12.6亿 | 12.6亿 | +0.4% | 12.6亿 | 12.6亿 | -0.4% |
| Common Stock, Value, Issued | $10万 | $10万 | 0.0% | $10万 | $10万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $11.9亿 | $8.95亿 | +33.2% | $35.4亿 | $28.4亿 | +24.4% |
| Contract with Customer, Liability | $68.7亿 | $40.6亿 | +69.0% | $53.7亿 | $27.9亿 | +92.5% |
| Contract with Customer, Liability, Current | $51亿 | $27.9亿 | +83.0% | $40亿 | $17.3亿 | +131.7% |
| Contract with Customer, Liability, Noncurrent | $17.7亿 | $12.7亿 | +38.5% | $13.7亿 | $10.6亿 | +28.7% |
| Contract with Customer, Liability, Revenue Recognized | $10.4亿 | $3.37亿 | +207.1% | $16.9亿 | $8.6亿 | +96.6% |
| Cost of Goods and Services Sold | $11.3亿 | $7.66亿 | +46.9% | $32.4亿 | $25.1亿 | +28.9% |
| Current Federal Tax Expense (Benefit) | – | – | – | $7.85亿 | $7.51亿 | +4.5% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1.22亿 | $3980万 | +206.8% |
| Current Income Tax Expense (Benefit) | – | – | – | $10.5亿 | $9.06亿 | +16.0% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1.43亿 | $1.15亿 | +24.6% |
| Debt Securities, Available-for-sale | $111亿 | $66.2亿 | +67.0% | $87.8亿 | $55.4亿 | +58.4% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $230万 | $1700万 | -86.5% | $2750万 | $870万 | +216.1% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $4080万 | $360万 | +1,033.3% | $150万 | $1350万 | -88.9% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $1600万2026-03-31 | $280万 | +471.4% | $4490万 | $1.33亿 | -66.1% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $02026-03-31 | $0 | – | $0 | $4.6万 | -100.0% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $84.9亿 | $22.7亿 | +273.3% | $16.1亿 | $23亿 | -30.1% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $4080万 | $360万 | +1,033.3% | $150万 | $1350万 | -88.9% |
| Debt Securities, Available-for-sale, Current | $111亿 | $66.2亿 | +67.0% | $87.8亿 | $55.4亿 | +58.4% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $43.7亿 | $26.2亿 | +66.8% | $32.7亿 | $27.5亿 | +18.9% |
| Debt Securities, Available-for-sale, Unrealized Loss Position | $55.8亿2026-03-31 | $22.4亿 | +148.7% | $16.5亿 | $24.3亿 | -32.1% |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $1950万2026-03-31 | $520万 | +275.0% | $150万 | $1350万 | -88.9% |
| Deferred Costs, Current | $16.2亿 | – | – | $12亿 | $2.91亿 | +310.9% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$2.94亿 | -$5.05亿 | +41.7% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $2890万 | $5470万 | -47.2% |
| Deferred Income Tax Assets, Net | $20亿 | $18亿 | +11.0% | $17.7亿 | $14.4亿 | +23.1% |
| Deferred Income Tax Expense (Benefit) | -$1.08亿 | -$2.31亿 | +53.1% | -$3.12亿 | -$4.93亿 | +36.7% |
| Deferred Income Taxes and Tax Credits | – | – | – | -$3.12亿 | -$4.93亿 | +36.7% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$4680万 | -$4280万 | -9.3% |
| Deferred Tax Assets, Deferred Income | $11.3亿2025-12-31 | $5.66亿 | +99.7% | $11.3亿 | $5.66亿 | +99.7% |
| Deferred Tax Assets, Goodwill and Intangible Assets | $2.45亿2025-12-31 | $2.74亿 | -10.6% | $2.45亿 | $2.74亿 | -10.6% |
| Deferred Tax Assets, Gross | $21.7亿2025-12-31 | $18.2亿 | +18.9% | $21.7亿 | $18.2亿 | +18.9% |
| Deferred Tax Assets, Net | $17.7亿2025-12-31 | $14.4亿 | +23.1% | $17.7亿 | $14.4亿 | +23.1% |
| Deferred Tax Assets, Net of Valuation Allowance | $19.7亿2025-12-31 | $16.4亿 | +20.0% | $19.7亿 | $16.4亿 | +20.0% |
| Deferred Tax Assets, Operating Loss Carryforwards | $1970万2025-12-31 | $2590万 | -23.9% | $1970万 | $2590万 | -23.9% |
| Deferred Tax Assets, Other | $280万2025-12-31 | $360万 | -22.2% | $280万 | $360万 | -22.2% |
| Deferred Tax Assets, Tax Credit Carryforwards | $1.34亿2025-12-31 | $1.3亿 | +2.9% | $1.34亿 | $1.3亿 | +2.9% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $5340万2025-12-31 | $3860万 | +38.3% | $5340万 | $3860万 | +38.3% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals | $1.46亿2025-12-31 | $1.35亿 | +8.3% | $1.46亿 | $1.35亿 | +8.3% |
| Deferred Tax Assets, Valuation Allowance | $1.96亿2025-12-31 | $1.8亿 | +8.9% | $1.96亿 | $1.8亿 | +8.9% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-01