Common-Size Balance Sheet: Assets
Quarterly Data
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Arista Networks Inc. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Net Profit Margin since 2014
- Total Asset Turnover since 2014
- Aggregate Accruals
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Arista Networks Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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
- The proportion of cash and cash equivalents relative to total assets showed a decline from around 18.5% in early 2020 to a low near 8.5% by mid-2022. Subsequently, it experienced a gradual recovery, reaching close to 25% by late 2024, before decreasing again towards approximately 13% by late 2025. This suggests varying liquidity strategies over the periods analyzed.
- Marketable Securities
- Marketable securities consistently constituted a significant portion of total assets, fluctuating between roughly 30% and 50%. Initial values around 45-50% declined steadily to near 30% by late 2021 and mid-2023, followed by a rebound to above 40% in the later periods. This pattern indicates dynamic portfolio management in response to market or strategic considerations.
- Accounts Receivable, Net
- Accounts receivable as a percentage of total assets generally remained in the mid-to-high single digits, peaking near 13.6% at the end of 2022. After that, it gradually declined to levels near 8% by late 2024 and early 2025, suggesting changes in credit policies or sales patterns affecting receivables turnover.
- Inventories
- Inventory levels showed a notable upward trend from approximately 6% in early 2020 to a peak of over 22% in early 2023. Thereafter, inventories declined steadily to around 12% by the end of 2025. This indicates an accumulation of stock over the first few years, followed by a reduction which may reflect inventory optimization or changes in demand.
- Prepaid Expenses and Other Current Assets
- These assets rose consistently from about 2% in early 2020 to nearly 8% by the end of 2025, indicating an increasing allocation of resources to prepaid items or other short-term assets, potentially reflecting strategic operational adjustments.
- Current Assets
- Current assets as a percentage of total assets remained relatively stable throughout the period, hovering around 80-85%. This stability, despite fluctuations in specific components, suggests a consistent focus on maintaining liquidity and short-term asset availability.
- Property and Equipment, Net
- The proportion of property and equipment remained low, generally under 1.5%, with minor fluctuations. This indicates limited investment in fixed assets relative to total assets possibly due to the nature of the business or capital expenditure policies.
- Goodwill
- Goodwill represented between 1.85% and 4.7% of total assets across the periods. It peaked in mid-2022 and showed a declining trend thereafter, possibly due to impairment or changes in acquisition-related accounting.
- Deferred Tax Assets
- Deferred tax assets exhibited a downward trajectory from nearly 11% in early 2020 to just above 7% by late 2021, followed by a gradual rise back to around 10-11% by mid-2025, before a slight decrease towards the end of 2025. These movements may reflect changing tax positions or recognition of future tax benefits.
- Other Assets
- Other assets as a percentage of total assets gradually declined from about 5% in early 2020 to near 2% by mid-2024, before a slight increase again in late 2025. This suggests decreasing significance of miscellaneous asset categories until a moderate rebound occurs.
- Long-term Assets
- Long-term assets stayed relatively consistent, generally composing 15-19% of total assets. Fluctuations mostly corresponded inversely with current assets, indicating an ongoing balance between short-term and long-term asset allocations.
- Overall Asset Composition
- Throughout the reported periods, total assets remained at 100%, but the internal composition shifted notably. The company maintained a predominantly current asset-heavy balance sheet, with significant allocations to marketable securities and cash equivalents. Fluctuations in inventory and receivables indicate operational adjustments, while stable property and equipment figures suggest steady capital expenditure. Deferred tax assets and goodwill proportions varied, reflecting changes in tax strategies and acquisition impacts.