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Arista Networks, Inc.

NYSE: ANET·Santa Clara, California·

Price
$204.49
Base IV
$45.94
Your value
$45.94
-77.5%

Valuation snapshot

Above bull caseOut of date
$204.49
price, off scale
$45.94
base IV/share
Bear $26.76Bull $61.76

Price is above even the bull case. Price as of Oct 2, 2026 · Valuation Aug 12, 2026.

Researched byClaude Opus 5

Track record

Reported financials are not available yet.

Why the gap?

At $204.49 the market is pricing Arista Networks, Inc. as if revenue grows 63.7% a year. This valuation assumes it grows 18.4% a year. That single disagreement accounts for most of the distance between the two numbers — which makes it the first thing worth auditing.

Implied by price

+63.7%

revenue growth a year, holding everything else researched

Assumed here

+18.4%

researched base case, grounded in filings and guidance

Many combinations of assumptions reproduce the same price. These are ways to read what the market might expect, not its actual view.

Your valuation

Four judgments stand between the filing and a number. Audit them one at a time and leave with a valuation that is yours.

  • 01 Revenue growth30.0%
  • 02 Operating margin42.0%
  • 03 Risk and beta1.56
  • 04 Long-run growth3.0%
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What drives the base case

All three cases →

Arista has grown revenue between 27% and 38% in every one of the last six reported quarters, and management has now raised its 2026 outlook three times to about $12.6 billion. Its Ethernet AI switch business has expanded from four or five customers in 2024 to more than 100, and a new 1.6-terabit product line goes into production in 2027, so there is a visible reason for growth to stay elevated near term. This case assumes that momentum carries into 2027 and then fades naturally as the revenue base approaches $20 billion and the law of large numbers takes over. Profitability holds near recent levels, with slightly lower product margins on big cloud deals offset by spreading fixed costs over far more revenue.

What shapes the assumptions

No structured value drivers are attached to this valuation yet.

How confident is this estimate?

Quality checks
71/100Strong

Some of any gap to the price is model uncertainty rather than real disagreement. Start with the weakest components.

  • Scenario dispersion6.2
  • Terminal-value dependency2.8
  • Historical stability7.0
  • Margin predictability9.3

Why the number moved

No prior valuation bridge is available yet. Future recalculations will explain what moved.

Explore StockValuer's full research

All cases, evidence, value drivers, sensitivity, quality checks, and calculation detail.

Financials

Reported quarters with derived margins, cash flow, and net cash.

Methodology

How reported facts, researched judgments and deterministic math are kept apart.

Base estimate

$45.94 -77.5%

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