How Does Arista Networks Stock Stack Up Against Its Peers?
Arista Networks’ stock, as of 1/15/2026, has delivered positive returns over the past year, but how does its premium valuation measure up against peers rapidly scaling in the AI and data-center boom? A closer look reveals ANET boasts exceptional profitability with 42.9% operating and 47.9% FCF margins, alongside industry-leading revenue growth of 27.8%. While its 48.9 PE suggests a rich valuation, ANET is well-positioned as a pure-play in high-performance networking, driven by hyperscale and cloud demand.
- ANET’s 42.9% operating margin, highest among peers, reflects its premium AI/cloud solutions and high-margin software recurring revenue.
- ANET’s 27.8% revenue growth, outpacing peers, reflects strong demand from AI infrastructure and high-speed data center deployments.
- ANET’s 12.5% stock gain (48.9 PE) reflects anticipated AI growth, though CSCO/CIEN delivered stronger returns due to differing market dynamics.
Here’s how Arista Networks stacks up across size, valuation, and profitability versus key peers.
| ANET | CSCO | HPE | DELL | EXTR | CIEN | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 164.3 | 297.7 | 29.3 | 80.3 | 2.1 | 34.5 |
| Revenue ($ Bil) | 8.4 | 57.7 | 34.3 | 104.1 | 1.2 | 4.8 |
| PE Ratio | 48.9 | 28.8 | 513.3 | 15.4 | 247.4 | 279.8 |
| LTM Revenue Growth | 27.8% | 8.9% | 13.8% | 10.8% | 14.3% | 18.8% |
| LTM Operating Margin | 42.9% | 22.5% | 4.8% | 6.7% | 2.8% | 6.5% |
| LTM FCF Margin | 47.9% | 22.1% | 1.8% | 4.3% | 8.0% | 13.9% |
| 12M Market Return | 12.5% | 28.5% | -3.3% | 11.5% | -8.0% | 184.5% |
For more details on Arista Networks, read Buy or Sell ANET Stock. Below we compare ANET’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
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| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| ANET | 27.8% | – | 19.5% | 33.8% | 48.6% |
| CSCO | 8.9% | 5.3% | -5.6% | 10.6% | |
| HPE | 13.8% | 13.8% | 3.4% | 2.2% | |
| DELL | 10.8% | 8.1% | -13.6% | 1.1% | |
| EXTR | 14.3% | 2.0% | -14.9% | 18.0% | |
| CIEN | 18.8% | 18.8% | -8.5% | 20.8% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| ANET | 42.9% | – | 42.0% | 38.5% | 34.9% |
| CSCO | 22.5% | 22.1% | 24.1% | 27.3% | |
| HPE | 4.8% | 4.8% | 8.3% | 8.4% | |
| DELL | 6.7% | 6.5% | 6.1% | 5.6% | |
| EXTR | 2.8% | 1.6% | -2.6% | 8.5% | |
| CIEN | 6.5% | 6.5% | 4.8% | 8.8% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| ANET | 48.9 | – | 57.7 | 65.5 | 53.4 |
| CSCO | 28.8 | 30.1 | 23.2 | 16.4 | |
| HPE | 513.3 | 557.9 | 10.8 | 10.9 | |
| DELL | 15.4 | 19.3 | 24.5 | 23.0 | |
| EXTR | 247.4 | -295.1 | -25.2 | 29.3 | |
| CIEN | 279.8 | 269.7 | 146.2 | 26.3 |
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