Where Does Arista Networks Stock Rank Among Competitors?

ANET: Arista Networks logo
ANET
Arista Networks

Arista Networks’ stock delivered solid 12-month returns, but how does this pure-play data center leader truly measure up against peers scaling in the AI and cloud boom? As of December 12, 2025, an analysis reveals stellar profitability (42.88% LTM Operating Margin) and industry-leading revenue growth (27.75% LTM Revenue Growth), alongside a premium valuation (54.61 PE Ratio). While its hyperscale momentum is strong due to demand for robust AI networking solutions, sustained upside relies on continued innovation amidst evolving networking demands.

  • ANET’s 42.9% operating margin, highest among peers, signals superior cost efficiency and pricing power in its specialized networking niche.
  • ANET’s 27.8% revenue growth, outpacing peers, suggests strong demand for its networking solutions, likely from cloud and AI infrastructure.
  • ANET’s 54.6 PE reflects investor belief in future growth, despite its 16.7% stock gain trailing peers like CIEN.

Here’s how Arista Networks stacks up across size, valuation, and profitability versus key peers.

  ANET MSI CIEN NTAP FFIV FIEE
Market Cap ($ Bil) 156.9 60.8 20.6 23.6 15.1 0.0
Revenue ($ Bil) 8.4 11.1 4.8 6.6 3.1 0.0
PE Ratio 54.6 36.0 167.2 20.0 21.9 -15.8
LTM Revenue Growth 27.8% 6.4% 18.8% 2.5% 9.7% -5.6%
LTM Operating Margin 42.9% 25.1% 6.5% 22.6% 25.6% -48.4%
LTM FCF Margin 47.9% 21.5% 13.9% 25.3% 29.4% 125.5%
12M Market Return 16.7% -21.6% 158.4% -4.5% 0.4%  

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%
MSI 6.4% 8.4% 9.5% 11.5%
CIEN 18.8% 18.8% -8.5% 20.8%  
NTAP 2.5% 4.9% -1.5% 0.7%  
FFIV 9.7% 9.7% 0.1% 4.4%  
FIEE -5.6% -97.5% -48.4% -8.7%

Operating Margin Comparison

  LTM 2025 2024 2023 2022
ANET 42.9% 42.0% 38.5% 34.9%
MSI 25.1% 24.9% 23.6% 19.1%
CIEN 6.5% 6.5% 4.8% 8.8%  
NTAP 22.6% 21.7% 20.2% 18.2%  
FFIV 25.6% 25.6% 23.7% 19.1%  
FIEE -48.4% -318.0% -65.9% -29.7%

PE Ratio Comparison

  LTM 2025 2024 2023 2022
ANET 54.6 48.7 34.9 27.5
MSI 36.0 48.9 30.6 31.7
CIEN 167.2 97.8 77.6 29.8  
NTAP 20.0 20.0 18.6 10.2  
FFIV 21.9 21.0 18.5 21.8  
FIEE -15.8

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