Stock Analysis on Net
Stock Analysis on Net

Arista Networks Inc. (NYSE:ANET)

Price to FCFE (P/FCFE)

Microsoft Excel

Free Cash Flow to Equity (FCFE)

Arista Networks Inc., FCFE calculation

US$ in thousands

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12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net income 2,852,054 2,087,321 1,352,446 840,854 634,557
Net noncash charges (129,001) (37,391) 53,188 181,878 186,243
Changes in operating assets and liabilities 985,182 (15,916) (912,821) (6,876) (85,686)
Net cash provided by operating activities 3,708,235 2,034,014 492,813 1,015,856 735,114
Purchases of property, equipment and intangible assets (32,032) (34,434) (44,644) (64,736) (15,384)
Free cash flow to equity (FCFE) 3,676,203 1,999,580 448,169 951,120 719,730

Based on: 10-K (reporting date: 2024-12-31), 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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Arista Networks Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Arista Networks Inc. FCFE increased from 2022 to 2023 and from 2023 to 2024.

Price to FCFE Ratio, Current

Arista Networks Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 1,261,122,596
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands) 3,676,203
FCFE per share 2.92
Current share price (P) 93.05
Valuation Ratio
P/FCFE 31.92
Benchmarks
P/FCFE, Competitors1
Apple Inc. 35.34
Cisco Systems Inc. 8.63
Dell Technologies Inc. 29.39
Super Micro Computer Inc. —
P/FCFE, Sector
Technology Hardware & Equipment 36.25
P/FCFE, Industry
Information Technology 50.22

Based on: 10-K (reporting date: 2024-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Arista Networks Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 1,261,122,596 1,250,534,448 1,225,581,536 1,231,066,312 1,221,305,168
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)2 3,676,203 1,999,580 448,169 951,120 719,730
FCFE per share3 2.92 1.60 0.37 0.77 0.59
Share price1, 4 103.92 66.38 35.37 32.49 19.44
Valuation Ratio
P/FCFE5 35.65 41.51 96.72 42.05 32.99
Benchmarks
P/FCFE, Competitors6
Apple Inc. 32.77 30.63 22.26 23.27 24.40
Cisco Systems Inc. 6.64 12.84 17.18 21.02 38.82
Dell Technologies Inc. 32.94 9.06 33.54 14.15 5.64
Super Micro Computer Inc. — 41.38 139.27 13.81 —
P/FCFE, Sector
Technology Hardware & Equipment — 27.42 22.22 22.84 24.15
P/FCFE, Industry
Information Technology — 33.30 26.87 27.27 23.30

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 3,676,203,000 ÷ 1,261,122,596 = 2.92

4 Closing price as at the filing date of Arista Networks Inc. Annual Report.

5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= 103.92 ÷ 2.92 = 35.65

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Arista Networks Inc. P/FCFE ratio decreased from 2022 to 2023 and from 2023 to 2024.