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Arista Networks cash flow statement

In fiscal 2025, Arista Networks's operations generated $4.37bn of cash; it spent $120m on capital projects, leaving free cash flow of $4.25bn. It returned $1.60bn through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations26351322381746325039637351,0164932,0343,7084,3725,307
Depreciation and amortisation2510142021283335506371627377
Stock-based pay5102845597591101137187231297355439502
Capital spending3201320211524161565453432120151
Free cash flow23141192181536164799477209514482,0003,6764,2525,155
Free cash flow after stock pay18491172945413888465837642171,7033,3213,8134,653
Share buybacks—————002663954126701124241,603620

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Arista Networks's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Arista Networks.