← Arista Networks, Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $184.2m | $423.2m | $328.1m | $859.9m | $634.6m | $840.9m | $1.4b | $2.1b | $2.9b | $3.5b | |
| Net Income (Loss) Available to Common Stockholders, Basic | $183.0m | $422.4m | $327.9m | $859.4m | $634.6m | $840.9m | $1.4b | $2.1b | $2.9b | $3.5b | |
| Depreciation, Depletion and Amortization | $19.7m | $20.6m | $27.7m | $32.8m | $44.6m | $50.3m | $62.7m | $70.6m | $62.0m | $72.6m | |
| Amortization of Intangible Assets | — | — | $5.1m | $13.4m | $24.1m | $29.2m | $33.6m | $33.4m | $26.8m | $41.6m | |
| Depreciation | $19.4m | $20.2m | $21.6m | $19.0m | $20.1m | $19.5m | $25.6m | $31.7m | $34.0m | $30.9m | |
| Deferred Income Tax Expense (Benefit) | ($21.8m) | $8.4m | ($57.9m) | ($75.7m) | ($9.1m) | ($99.3m) | ($244.4m) | ($370.8m) | ($492.9m) | ($312.0m) | |
| Share-based Payment Arrangement, Noncash Expense | $59.0m | $75.4m | $91.2m | $101.3m | $137.0m | $186.9m | $230.9m | $296.8m | $355.4m | $439.2m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | $1.1m | $4.0m | $8.9m | $9.2m | $8.7m | $16.5m | $32.7m | $33.6m | $58.4m | $50.5m | |
| Share-based Payment Arrangement, Expense | $59.0m | $75.4m | $91.2m | $101.3m | $137.0m | $186.9m | $230.9m | $296.8m | $355.4m | $439.2m | |
| Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | — | — | $15.0m | — | — | — | — | — | — | — | |
| Goodwill and Intangible Asset Impairment | — | — | — | — | — | — | — | — | $0 | $0 | |
| Goodwill, Impairment Loss | — | — | $0 | $0 | — | — | — | — | — | — | |
| Income Tax Expense (Benefit) | $58.0m | $51.6m | ($39.3m) | $2.4m | $104.3m | $90.0m | $229.3m | $334.7m | $413.0m | $738.3m | |
| Operating Lease, Expense | — | — | — | $28.8m | $30.9m | $31.0m | $32.8m | $33.3m | — | — | |
| Other Nonoperating Income (Expense) | $2.0m | $7.3m | $18.2m | — | — | — | — | — | — | — | |
| Changes in operating assets and liabilities: | |||||||||||
| Noncash investing and financing activities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | $108.9m | ($5.8m) | $77.9m | $60.2m | ($10.7m) | $127.0m | $401.5m | $101.5m | $106.1m | $746.4m | |
| Increase (Decrease) in Inventories | $144.4m | $69.7m | ($51.1m) | ($20.9m) | $235.3m | $170.4m | $638.9m | $655.5m | ($110.6m) | $412.5m | |
| Increase (Decrease) in Accounts Payable | $38.7m | ($30.1m) | $39.3m | ($1.9m) | $41.2m | $66.7m | $31.4m | $198.6m | ($51.6m) | $260.5m | |
| Accounts Receivable, Credit Loss Expense (Reversal) | ($292k) | $17k | $368k | $221k | $397k | ($154k) | — | — | — | — | |
| Proceeds from Stock Options Exercised | $24.9m | — | — | — | — | — | — | — | — | — | |
| Purchases of property and equipment, accrued but unpaid | $21.4m | $15.3m | $23.8m | $15.8m | $15.4m | $64.7m | $44.6m | $34.4m | $32.0m | $119.5m | |
| Equity Securities, FV-NI, Realized Gain (Loss) | — | — | — | $4.3m | $4.3m | — | — | — | — | — | |
| Equity Securities, FV-NI, Unrealized Gain (Loss) | — | — | — | $5.4m | $4.2m | $0 | — | — | — | — | |
| Foreign Currency Transaction Gain (Loss), Realized | ($700k) | ($500k) | $300k | — | — | — | — | — | — | — | |
| Gain (Loss) on Investments | — | — | — | — | — | — | — | $18.7m | — | — | |
| Gain (Loss) on Sale of Financing Receivable | $0 | — | — | — | — | — | — | — | — | — | |
| General and Administrative Expense | $75.2m | $86.8m | $65.4m | $61.9m | $66.2m | $83.1m | $93.2m | $119.1m | $122.7m | $141.9m | |
| Goodwill | — | — | $53.7m | $54.9m | $189.7m | $188.4m | $265.9m | $268.5m | — | $416.1m | |
| Inventory Write-down | $12.1m | $28.1m | $20.8m | $41.2m | $50.5m | $61.8m | $71.4m | $234.4m | $267.2m | $131.6m | |
| Marketable Securities, Unrealized Gain (Loss) | — | — | — | — | — | ($6.3m) | — | — | — | — | |
| Nonoperating Income (Expense) | ($1.2m) | $4.5m | $15.5m | $56.5m | $39.2m | $6.1m | $54.7m | $164.8m | $320.4m | $393.6m | |
| Operating Expenses | $479.7m | $591.5m | $1.1b | $738.6m | $782.2m | $956.0m | $1.1b | $1.4b | $1.5b | $1.9b | |
| Unrealized Gain (Loss) on Investments | — | — | ($13.8m) | $5.4m | $4.2m | $0 | $27.5m | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $131.4m | $631.6m | $503.1m | $963.0m | $735.1m | $1.0b | $492.8m | $2.0b | $3.7b | $4.4b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $21.4m | $15.3m | $23.8m | $15.8m | $15.4m | $64.7m | $44.6m | $34.4m | $32.0m | $119.5m | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | $96.8m | $1.4m | $227.4m | $0 | $145.1m | ($1.8m) | $0 | $300.0m | |
| Payments for (Proceeds from) Other Investing Activities | $2.5m | — | $2.0m | $0 | — | — | — | — | $6.6m | ($14.9m) | |
| Net Cash Provided by (Used in) Investing Activities | ($326.0m) | ($392.6m) | ($755.1m) | ($284.1m) | ($608.8m) | ($925.6m) | $216.3m | ($687.5m) | ($2.5b) | ($3.6b) | |
| Cash flows from financing activities: | |||||||||||
| Payments for Repurchase of Common Stock | — | $0 | $0 | $266.1m | $395.2m | $411.6m | $670.3m | $112.3m | $423.6m | $1.6b | |
| Net Cash Provided by (Used in) Financing Activities | $75.6m | $51.5m | $42.9m | ($218.0m) | ($346.3m) | ($360.9m) | ($654.6m) | ($83.7m) | ($421.8m) | ($1.6b) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($464k) | $753k | ($1.4m) | $353k | $2.0m | ($1.8m) | ($3.6m) | $675k | ($4.8m) | $1.7m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | ($119.2m) | $292.5m | ($210.5m) | $461.4m | ($218.1m) | ($272.4m) | $50.9m | $1.3b | $824.3m | ($798.5m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($119.2m) | $292.5m | $654.2m | $1.1b | $897.5m | $625.0m | $676.0m | $1.9b | $2.8b | $2.0b | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Income Taxes Paid, Net | $39.6m | $44.2m | $17.6m | $32.8m | $82.6m | $189.8m | $427.8m | $686.2m | $970.6m | $1.1b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.