Arista Networks, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $3.51B | $2.85B | $2.09B | $1.35B | $840.9M | $634.6M | $859.9M | $328.1M |
| Depreciation & Amortization | $72.6M | $62.0M | $70.6M | $62.7M | $50.3M | $35.2M | $32.8M | $27.7M |
| Depreciation | $30.9M | $34.0M | $31.7M | $25.6M | $19.5M | $20.1M | $19.0M | $21.6M |
| Amortization | $41.6M | $26.8M | $33.4M | $33.7M | $29.2M | $24.1M | $13.4M | $5.1M |
| Stock-Based Compensation | $439.2M | $355.4M | $296.8M | $230.9M | $186.9M | $137.0M | $101.3M | $91.2M |
| Net Cash from Operating Activities | $4.37B | $3.71B | $2.03B | $492.8M | $1.02B | $735.1M | $963.0M | $503.1M |
| Investing Activities | ||||||||
| Capital Expenditures | $119.5M | $32.0M | $34.4M | $44.6M | $64.7M | $15.4M | $15.8M | $23.8M |
| Business Acquisitions | $300.0M | $0 | $-1.8M | $145.1M | $-1.3M | $227.4M | $1.4M | $96.8M |
| Net Cash from Investing Activities | $-3.58B | $-2.46B | $-687.5M | $216.3M | $-925.6M | $-608.8M | $-284.1M | $-755.1M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $1.60B | $423.6M | $112.3M | $670.3M | $411.6M | $395.2M | $266.1M | $0 |
| Net Cash from Financing Activities | $-1.60B | $-421.8M | $-83.8M | $-654.6M | $-360.9M | $-346.3M | $-218.0M | $42.9M |
| Net Change in Cash | $-798.5M | $824.3M | $1.26B | $50.9M | $-272.4M | $-218.1M | $461.4M | $-210.5M |
| Free Cash Flow | $4.25B | $3.68B | $2.00B | $448.2M | $951.1M | $719.7M | $947.3M | $479.3M |