Stock Analysis on Net
Stock Analysis on Net

Arista Networks Inc. (NYSE:ANET)

Common-Size Income Statement
Quarterly Data

Arista Networks Inc., common-size consolidated income statement (quarterly data)

Microsoft Excel
3 months ended: 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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Product 84.14 84.20 84.57 85.06 85.17 86.47 86.73 85.99 85.71 84.21 82.63 81.02 80.69 80.09 80.76 79.92 79.32 77.96 78.56 80.99 84.82 84.36 84.88
Service 15.86 15.80 15.43 14.94 14.83 13.53 13.27 14.01 14.29 15.79 17.37 18.98 19.31 19.91 19.24 20.08 20.68 22.04 21.44 19.01 15.18 15.64 15.12
Revenue 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Product -32.76 -31.97 -33.20 -32.19 -34.64 -36.58 -37.66 -36.97 -36.76 -35.71 -33.50 -32.85 -32.50 -31.92 -32.72 -32.45 -32.95 -32.64 -31.28 -31.76 -33.35 -32.97 -33.28
Service -3.09 -3.12 -3.07 -2.95 -2.93 -2.82 -2.81 -2.77 -2.91 -3.14 -3.35 -3.75 -3.57 -3.87 -3.57 -3.62 -3.47 -3.71 -4.04 -3.76 -2.89 -2.89 -2.81
Cost of revenue -35.85% -35.09% -36.27% -35.13% -37.57% -39.40% -40.47% -39.74% -39.67% -38.85% -36.85% -36.60% -36.07% -35.79% -36.29% -36.07% -36.42% -36.35% -35.33% -35.52% -36.24% -35.86% -36.08%
Gross profit 64.15% 64.91% 63.73% 64.87% 62.43% 60.60% 59.53% 60.26% 60.33% 61.15% 63.15% 63.40% 63.93% 64.21% 63.71% 63.93% 63.58% 63.65% 64.67% 64.48% 63.76% 64.14% 63.92%
Research and development -13.02 -15.82 -13.26 -13.73 -14.07 -15.74 -14.90 -14.93 -15.96 -16.94 -19.61 -19.15 -20.45 -20.26 -19.85 -20.64 -21.15 -20.63 -21.63 -19.92 -18.14 -18.79 -20.10
Sales and marketing -5.90 -6.18 -6.69 -6.85 -6.76 -6.72 -6.92 -6.70 -6.92 -7.55 -9.21 -9.07 -9.31 -9.98 -10.64 -10.44 -8.82 -9.48 -10.91 -9.87 -8.45 -8.72 -8.57
General and administrative -1.87 -1.52 -1.77 -2.75 -1.68 -1.81 -1.85 -1.87 -1.99 -2.18 -2.64 -2.94 -3.00 -2.95 -2.32 -2.84 -2.50 -2.65 -3.51 -2.84 -2.24 -2.63 -2.60
Operating expenses -20.79% -23.52% -21.72% -23.33% -22.51% -24.27% -23.67% -23.49% -24.87% -26.66% -31.45% -31.16% -32.77% -33.20% -32.80% -33.92% -32.47% -32.76% -36.06% -32.63% -28.83% -30.14% -31.28%
Income from operations 43.36% 41.39% 42.01% 41.54% 39.93% 36.33% 35.86% 36.76% 35.46% 34.50% 31.70% 32.24% 31.16% 31.01% 30.90% 30.01% 31.12% 30.89% 28.61% 31.85% 34.93% 34.00% 32.64%
Other income (expense), net 5.39 4.19 3.99 3.54 2.77 3.86 0.90 1.33 0.58 -0.05 3.59 0.18 0.18 0.24 0.24 0.85 2.18 1.53 2.32 2.02 2.93 2.27 2.07
Income before income taxes 48.75% 45.58% 46.00% 45.08% 42.70% 40.19% 36.76% 38.09% 36.04% 34.44% 35.28% 32.42% 31.34% 31.26% 31.14% 30.87% 33.30% 32.42% 30.94% 33.87% 37.86% 36.27% 34.71%
Provision for income taxes -7.45 -6.21 -5.41 -5.24 -6.57 -6.48 -4.46 -4.61 -5.96 -6.01 -4.24 -3.40 -1.38 -3.42 -4.12 -2.66 -5.49 -5.63 -4.47 13.31 -5.94 -5.16 -0.95
Net income 41.30% 39.37% 40.58% 39.84% 36.13% 33.72% 32.30% 33.48% 30.08% 28.43% 31.04% 29.02% 29.96% 27.84% 27.02% 28.21% 27.81% 26.79% 26.47% 47.18% 31.92% 31.11% 33.76%

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

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 decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 exceeding Q1 2024 level.
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 decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 exceeding Q1 2024 level.
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 decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 exceeding Q1 2024 level.