Stock Analysis on Net
Stock Analysis on Net

Arista Networks Inc. (NYSE:ANET)

Common-Size Income Statement

Arista Networks Inc., common-size consolidated income statement

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Product 85.83 84.82 80.65 79.00 83.84
Service 14.17 15.18 19.35 21.00 16.16
Revenue 100.00% 100.00% 100.00% 100.00% 100.00%
Product -35.17 -35.92 -32.51 -32.36 -32.87
Service -2.88 -3.01 -3.69 -3.70 -3.07
Cost of revenue -38.05% -38.93% -36.20% -36.06% -35.94%
Gross profit 61.95% 61.07% 63.80% 63.94% 64.06%
Research and development -14.59 -16.63 -19.90 -21.00 -19.20
Sales and marketing -6.81 -7.46 -9.71 -9.90 -8.87
General and administrative -2.03 -2.13 -2.82 -2.86 -2.57
Operating expenses -23.43% -26.22% -32.43% -33.75% -30.64%
Income from operations 38.52% 34.86% 31.37% 30.19% 33.42%
Interest income 2.60 0.63 0.24 1.17 2.12
Gain on strategic investments 0.32 0.63 0.00 0.18 0.23
Other income (expense) -0.11 -0.01 -0.04 0.34 0.00
Other income, net 2.81% 1.25% 0.21% 1.69% 2.34%
Income before income taxes 41.33% 36.10% 31.58% 31.88% 35.77%
Provision for income taxes -5.71 -5.23 -3.05 -4.50 -0.10
Net income 35.62% 30.87% 28.52% 27.38% 35.67%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Income from operations The net result for the period of deducting operating expenses from operating revenues. Arista Networks Inc. income from operations as a percentage of revenue increased from 2021 to 2022 and from 2022 to 2023.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Arista Networks Inc. income before income taxes as a percentage of revenue increased from 2021 to 2022 and from 2022 to 2023.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Arista Networks Inc. net income as a percentage of revenue increased from 2021 to 2022 and from 2022 to 2023.