Stock Analysis on Net
Stock Analysis on Net

Arista Networks Inc. (NYSE:ANET)

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Common-Size Balance Sheet: Assets
Quarterly Data

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Arista Networks Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Cash and cash equivalents
Marketable securities
Accounts receivable, net
Inventories
Prepaid expenses and other current assets
Current assets
Property and equipment, net
Acquisition-related intangible assets, net
Goodwill
Deferred tax assets
Other assets
Long-term assets
Total assets

Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Cash and cash equivalents
Cash and cash equivalents as a percentage of total assets demonstrated a fluctuating trend over the observed periods. Starting at 18.52% in March 2020, it declined steadily reaching a low point near 8.47% in June 2022. Subsequently, there was a recovery peaking at 24.72% in September 2024 before declining again to 12.71% by March 2025.
Marketable securities
The proportion of marketable securities to total assets generally declined from 45.62% in March 2020 to a trough of 29.85% around September 2023. Thereafter, it trended upward, reaching 43.44% by March 2025, indicating a strategic shift back towards liquid investment holdings.
Accounts receivable, net
Accounts receivable exhibited variability but remained within a moderate range. Initially at 8.56% in March 2020, it dipped to 6.82% in September 2020, peaked at 13.62% by December 2022, and then moderated to 9.89% at the end of the period. This pattern suggests periods of credit extension and collection variation.
Inventories
Inventories as a percentage of total assets increased significantly from 6.37% in March 2020 to a high of 22.77% in June 2023, indicating build-up in stock levels. After this peak, inventory levels gradually declined to around 13.49% by March 2025, possibly reflecting inventory liquidation or improved turnover.
Prepaid expenses and other current assets
This category trended upward over time, rising from 2.09% in March 2020 to 5.05% in March 2025, punctuated by some fluctuations. This suggests an increasing proportion of prepaid costs or other current asset investments within the total assets.
Current assets
The share of current assets remained relatively stable, generally staying in the 80-85% range throughout the periods. This stability indicates a consistent asset structure favoring liquidity and short-term asset composition.
Property and equipment, net
The net property and equipment component remained quite low and stable overall, fluctuating slightly around 0.7-1.4%. A slight decreasing trend is observable towards the end of the period, pointing to limited capital investments or asset disposals.
Acquisition-related intangible assets, net
Intangible assets related to acquisitions gradually declined in proportion of total assets from 2.17% in March 2020 to 0.39% by March 2025, indicating amortization or impairment over time with limited new acquisition activity.
Goodwill
Goodwill as a percentage of total assets started at 2.06% and showed an initial increase to 4% by December 2020, followed by a consistent decline to 1.85% by March 2025. This reflects the diminishing carrying value of acquired goodwill, possibly through impairment or write-downs.
Deferred tax assets
Deferred tax assets exhibited a downward trend from 10.91% in March 2020 to a low near 7.31% in March 2022, followed by a gradual recovery to 10.64% by March 2025. This pattern may reflect changes in taxable income projections or timing differences in tax recognition.
Other assets
Other assets decreased steadily from 2.79% in March 2020 to a low of approximately 1.41% in June 2024, with minor rebounds towards 1.69% by March 2025, indicating a relative reduction in miscellaneous non-core asset categories.
Long-term assets
The proportion of long-term assets to total assets showed a moderate decline from roughly 18.85% in March 2020 to around 15.19-15.42% by early 2025. This reflects a gradual shift away from long-term asset holdings toward liquidity and current assets.
Total assets
Total assets are normalized to 100%, ensuring all components sum to this base consistently across all periods.