What is the 13F Pro Quality Score for ANET?

13F Pro ranks Arista Networks, Inc. (ANET) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View ANET's current score at https://13fpro.ai/company/ANET (free sign-up required for the full ranking).

Which hedge funds own the most ANET stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of ANET include BlackRock,, VANGUARD CAPITAL MANAGEMENT, STATE STREET. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/ANET as soon as new 13F filings post.

Where does 13F Pro source ANET data?

All Arista Networks, Inc. fundamentals and ownership data come directly from SEC EDGAR. Arista Networks, Inc. files with the SEC under CIK 1596532. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is ANET in?

Arista Networks, Inc. (ANET) is classified in the Technology sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/technology.

What drives ANET's revenue?

Per Arista Networks, Inc.'s latest 10-Q filed with the SEC on 2026-08-05, the biggest revenue drivers are: Product ($2,605.2M, +38.8% YoY); Service ($430.5M, +31.3% YoY); Americas ($2,337.9M, 77.0% of total revenue). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/ANET.

What are ANET's largest expenses?

Arista Networks, Inc.'s latest 10-Q reports these as the largest expense items: Total cost of revenue ($1,125.4M, +46.9% YoY); Research and development ($348.2M, +17.4% YoY); Sales and marketing ($150.3M, +18.8% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

How often is ANET research updated on 13F Pro?

ANET's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Arista Networks, Inc.(ANET)Stock Analysis

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SEC EDGAR: CIK 1596532 ANET stock profile & AI dashboard →

13F Pro Quality Score

81.9/100

Rank #18 of 2,961 stocksTOP 1%

View Technology peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

87.8/100

Profitability

93.1/100

Balance Sheet

96.1/100

Earnings Quality

50.1/100

Free Cash Flow

94.7/100

Institutional Flow

64.4/100

Revenue Scale

86.9/100

Dilution Risk

25.1/100

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Why ANET Scores 82/100

exact factor attribution · 2026-09-11

ANET's composite is driven by revenue growth and free cash flow, held back by shareholder dilution. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Revenue growth

+7.6 pts

88th pct

Free cash flow

+6.7 pts

95th pct

Profitability

+6.5 pts

93th pct

Scale

+5.5 pts

87th pct

Capital efficiency

+4.6 pts

96th pct

Earnings growth

+1.5 pts

81th pct

Institutional flow

+0.7 pts

64th pct

Earnings quality

+0.0 pts

50th pct

Shareholder dilution

-1.3 pts

25th pct

Latest change (2026-08-05): 86 → 84 · ↓ Revenue growth 85→74

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

ANET Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for Arista Networks, Inc. (ANET), a Technology sector company. 13F Pro's AI-powered ranking engine scores ANET at 81.9/100 on a 32-signal composite quality model, placing it at rank #18 of 2,961 stocks — the top 1% of the AI-ranked universe. ANET scores in the top quartile across balance sheet strength (96.1), free cash flow (94.7), profitability (93.1). Shareholder dilution risk is elevated at 25.1/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Arista Networks, Inc. reports quarterly revenue of $3.0B, net income of $1.2B, an operating margin of 45.4%. Top institutional holders of ANET by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. ANET trades on the NYSE exchange and files with the SEC under CIK 1596532. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate ANET daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Arista Networks, Inc. directly from SEC EDGAR. Arista Networks, Inc.'s 13F Pro composite quality score has ranged between 69 and 89 since 2021, currently 81.9 — an improving long-term trajectory across 68 quarterly and live scoring snapshots.

✦

Fun facts about Arista Networks, Inc.

Quirks, history, and lore behind ANET — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. technology company · large-cap · listed on NYSE · headquartered in Santa Clara, California.
2
The Numbers
Annual revenue has grown to roughly $7 billion, with net profit margins that make most hardware companies weep with envy — consistently above 30%.
3
The History
Founded in 2004 by veterans of Cisco and other networking giants, it went public in 2014 and quickly became Wall Street's darling in the data-center space.
4
The Secret
Its secret weapon is an operating system called EOS — one unified software stack across its entire hardware lineup, which rivals struggle to match for reliability and programmability.
5
The Lore
Co-founded by Andy Bechtolsheim — the same man who wrote the first check to Google — and led for years by the formidable Jayshree Ullal, one of tech's highest-paid CEOs.
6
The Giveaway
It sells cloud networking switches and routers to hyperscalers like Meta and Microsoft, and its ticker is four letters that rhyme with a certain wireless network standard.

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What's Driving ANET's Business? Latest 10-Q Breakdown

AI-extracted from Arista Networks, Inc.'s 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Q2 revenue grew 37.7% YoY to $3,035.7M on higher switching and routing shipments, while gross margin fell to 62.9% from 65.2% on large-customer discounts.

Biggest Revenue Drivers

Product$2,605.2M+38.8% YoY

Reflects healthy customer demand and higher shipments of our switching and routing platforms across our customer base

Service$430.5M+31.3% YoY

Continued growth in initial and renewal support contracts as our customer installed base has continued to expand

Biggest Revenue Drivers

Total revenue: $3,035.7M+37.7% YoY

Product$2,605.2M+38.8% YoY

Reflects healthy customer demand and higher shipments of our switching and routing platforms across our customer base

Within Product

Americas$2,337.9M77.0% of total revenue

Includes $2,319.6 million generated from the U.S. for the three months ended June 30, 2026

Service$430.5M+31.3% YoY

Continued growth in initial and renewal support contracts as our customer installed base has continued to expand

Largest Expense Items

Total cost of revenue$1,125.4M+46.9% YoY

Primarily driven by a corresponding increase in product and service revenues

Research and development$348.2M+17.4% YoY

Increased personnel costs of $33.3 million and new product introduction costs of $8.3 million

Sales and marketing$150.3M+18.8% YoY

Primarily driven by increased personnel costs due to headcount growth

General and administrative$33.8M+15.0% YoY

Increased slightly by $4.4 million versus the prior-year quarter

Margins: Gross margin decreased to 62.9% from 65.2% a year ago, primarily driven by an increased proportion of sales to large end customers who generally receive higher discounts. Management expects margin to keep fluctuating.

Watch Items from the Filing

Customer concentration: one end customer was 26% and another 16% of total revenue for the year ended December 31, 2025; timing of their orders is unpredictable.
Non-cancellable purchase commitments of $9.7 billion, with $9.4 billion expected within 12 months, raising excess/obsolete inventory and supplier liability risk.
Deferred revenue ended at $6,865.9 million and remaining performance obligations total $8.4 billion, with 91% expected to be recognized over the next two years.
Evaluation inventory rose to $616.0 million from $403.7 million, tied to customer trials and acceptance clauses that add quarterly revenue variability.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$3.0B

Net Income

Q2 2026

$1.2B

Free Cash Flow

Q2 2026

$1.1B

Operating Margin

Q2 2026

45.4%

ROIC

Q2 2026

37.3%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+28.6% YoY

$9.01BFY 2025

FY22 $4.38BFY23 $5.86BFY24 $7.00BFY25 $9.01B

Net Income

+23.1% YoY

$3.51BFY 2025

FY22 $1.35BFY23 $2.09BFY24 $2.85BFY25 $3.51B

Operating Income

+31.0% YoY

$3.86BFY 2025

FY22 $1.53BFY23 $2.26BFY24 $2.94BFY25 $3.86B

EPS (Diluted)

+23.3% YoY

$2.75FY 2025

FY22 $0.27FY23 $0.41FY24 $2.23FY25 $2.75

Total Assets

+38.5% YoY

$19.45BFY 2025

FY22 $6.78BFY23 $9.96BFY24 $14.04BFY25 $19.45B

Op. Cash Flow

+17.9% YoY

$4.37BFY 2025

FY22 $492.8MFY23 $2.03BFY24 $3.71BFY25 $4.37B

Free Cash Flow

+15.7% YoY

$4.25BFY 2025

FY22 $448.2MFY23 $2.00BFY24 $3.68BFY25 $4.25B

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$9.01B +28.6%	$7.00B +19.5%	$5.86B +33.8%	$4.38B +48.6%	$2.95B +27.2%	$2.32B
Net Income	$3.51B +23.1%	$2.85B +36.6%	$2.09B +54.3%	$1.35B +60.8%	$840.9M +32.5%	$634.6M
Operating Income	$3.86B +31.0%	$2.94B +30.4%	$2.26B +47.8%	$1.53B +65.1%	$924.7M +32.2%	$699.7M
EPS (Diluted)	$2.75 +23.3%	$2.23 +440.6%	$0.41 +54.2%	$0.27 -59.3%	$0.66 +426.0%	$0.13
Total Assets	$19.45B +38.5%	$14.04B +41.1%	$9.96B +47.0%	$6.78B +18.2%	$5.73B +21.0%	$4.74B
Operating Cash Flow	$4.37B +17.9%	$3.71B +82.3%	$2.03B +312.7%	$492.8M -51.5%	$1.02B +38.2%	$735.1M
Free Cash Flow	$4.25B +15.7%	$3.68B +83.8%	$2.00B +346.2%	$448.2M -52.9%	$951.1M +32.1%	$719.7M

AI Insight: ANET Financial Trends

Arista revenue accelerated 37% YoY to $3.04B in Q2 2026, with operating income up 45% and net income up 36% as margin expansion continues.

• Revenue grew 37% YoY from Q2 2025 ($2.21B) to Q2 2026 ($3.04B); sequential growth sustained across all recent quarters.

• Operating margin expanded from 44.6% in Q2 2025 to 45.4% in Q2 2026; consistent above 43% since Q1 2025.

• Net income reached $1.21B in Q2 2026 vs. $889M in Q2 2025; 36% YoY growth despite prior-year Q4 2024 write-down.

⚠ Operating cash flow declined to $1.08B in Q2 2026 from $1.27B in Q3 2025; working capital volatility warrants monitoring.

⚠ Equity base grew 35% from Q2 2025 ($10.90B) to Q2 2026 ($14.80B); high growth trajectory assumes sustained demand.

AI Insight: ANET Ratio Trends

Operating margin expanded to 45.4% in Q2 2026, while ROIC hit 37.2%—the strongest profitability readings in the dataset.

• Operating margin climbed from 42.4% in Q3 2025 to 45.4% in Q2 2026, a 300bp jump; net profit margin recovered to 40.0%.

• ROIC surged to 37.2% in Q2 2026, highest in dataset; ROE improved to 32.8% from 28.7% in Q3 2025.

• Q4 2024 saw severe NPM distortion (-106.2%), but underlying operational metrics (OpMargin 41.4%, ROIC 32.0%) remained stable.

⚠ ROA volatility: Q2 2026 at 20.4% vs. Q3 2024 peak of 23.3%—asset efficiency remains below prior-year highs.

⚠ TTM ROIC of 30.7% trails Q2 2026 quarterly 37.2%—monitor whether recent strength sustains or seasonality reverses.

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Available Research

13F Pro tracks comprehensive data for Arista Networks, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of ANET

BlackRock, Inc.
$15.5B91,383,843 sh
VANGUARD CAPITAL MANAGEMENT LLC
$11.7B68,688,349 sh
STATE STREET CORP
$8.2B48,165,803 sh
FMR LLC
$8.0B47,349,865 sh
GEODE CAPITAL MANAGEMENT, LLC
$4.7B27,505,753 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$4.4B25,808,745 sh
PRICE T ROWE ASSOCIATES INC /MD/
$3.9B23,227,202 sh
MORGAN STANLEY
$3.3B19,696,435 sh
Cresset Asset Management, LLC
$3.3B19,368,054 sh
Capital Research Global Investors
$2.2B13,164,137 sh

Fund	Value	Shares
BlackRock, Inc.	$15.5B	91,383,843
VANGUARD CAPITAL MANAGEMENT LLC	$11.7B	68,688,349
STATE STREET CORP	$8.2B	48,165,803
FMR LLC	$8.0B	47,349,865
GEODE CAPITAL MANAGEMENT, LLC	$4.7B	27,505,753
VANGUARD PORTFOLIO MANAGEMENT LLC	$4.4B	25,808,745
PRICE T ROWE ASSOCIATES INC /MD/	$3.9B	23,227,202
MORGAN STANLEY	$3.3B	19,696,435
Cresset Asset Management, LLC	$3.3B	19,368,054
Capital Research Global Investors	$2.2B	13,164,137

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Is ANET a good stock to buy?

13F Pro's AI-powered analysis of Arista Networks, Inc. (ANET) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Technology sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for ANET are available on the ANET stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. ANET is classified as a mega company.

Which hedge funds own ANET?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling ANET. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Arista Networks, Inc.'s investment landscape.