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Arista Networks, Inc (1ANET) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Arista Networks, Inc €105, price €183, upside -42.8%, quality 74 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Technology · FR · ISIN US0404132054

AN Broad data Sep 29, 2026

Arista Networks, Inc

1ANET · MI

Stretched ValuationQuality growthStrong overvaluation with only moderate quality.

!Fair value €104.78 · Strongly overvalued (−42.8%)
✓Quality 74/100
✓Healthy Growth (revenue 3y +27.1 %/yr)
✓Highly profitable · 38.3% net margin (TTM)
✓generates free cash flow
✓Wide moat 90/100

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€183.06 €70.91 Fair Value €104.78 Apr 2025 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.

How to read this chart

17‑month range €70.91 – €183.06 · fair‑value band €74.04 – €169.96 · the €183.06 price screens above the €104.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 29, 2026.

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Company profile

Arista Networks, Inc. engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for AI, data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific.

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Arista Networks, Inc. engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for AI, data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications. The company offers data center, cloud and AI networking, cognitive adjacencies, and cognitive network software and services. It also provides post contract customer support services, such as technical support, hardware repair and replacement parts beyond standard warranty, bug fixes, patches, and upgrade services. The company serves a range of industries comprising internet companies, cloud service providers, financial services organizations, government agencies, media and entertainment, healthcare, oil and gas, education, manufacturing, industrial, and others. It markets and sells its products through distributors, system integrators, value-added resellers, and original equipment manufacturer partners, as well as through its direct sales force. Arista Networks, Inc. was formerly known as Arastra, Inc. and changed its name to Arista Networks, Inc. in October 2008. The company was incorporated in 2004 and is headquartered in Santa Clara, California.

Stock analysis

Arista Networks, Inc (1ANET) currently trades at €183.06, while our model-based Fair Value estimate is €104.78, 42.8% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of €95.17 per share, and 0 of the 24 models we run sit above the €183.06 price.

Bear case: the Economic Profit group reads lowest at €25.01, and 24 of the 24 models stay below the price. Evidence for this calculation is high.

Scenario range: €74.04 (bear) to €169.96 (bull), the price of €183.06 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 74/100 (solid quality), in the Technology sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

Arista Networks, Inc reported revenue of $9.0B in FY2025 versus $4.4B in FY2022, a compound +27.1%/yr. Reported net income was $3.5B in FY2025, compounding +37.4%/yr from FY2022.

Key figures

Market cap €230B · P/E ratio 71.5 · P/S ratio 27.9 · EPS (TTM) €2.56 · Net margin 39.0% · Return on equity 31.5% · Return on assets (EBIT) 21.5% · Operating margin 42.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 58 out of 100 (medium confidence).

What moves the price

The share trades at its 52-week high and 76% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −9% fair-value upside, at −43%, 1ANET screens richer than that median.

Fair Value models

Bear €74.04 Fair Value €104.78 Bull €169.96
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€1.94 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF €54.96 €87.77 €195.04 70
EPV €22.88 €26.67 €30.04 68
Growth DCF €51.88 €99.08 €198.56 68
All 24 models by family
DCF Models
FCF DCF €54.96 €87.77 €195.04 70
Owner Earnings €42.05 €96.68 €216.47 64
5Y Revenue Exit €33.80 €55.13 €99.59 64
5Y EBITDA Exit €44.30 €76.37 €139.24 66
5Y P/E Exit €55.58 €123.87 €217.18 62
10Y Revenue Exit €39.33 €79.39 €103.15 61
10Y EBITDA Exit €48.23 €102.54 €196.17 59
10Y P/E Exit €56.65 €127.40 €244.36 55
Earnings-Based
Graham-Dodd €16.84 €117.47 €164.86 60
Lynch FV €47.01 €67.16 €87.30 58
PEG = 1.0 €47.01 €67.16 €87.30 55
EPV €22.88 €26.67 €30.04 68
Multiples
P/E Multiple €52.02 €69.36 €86.70 63
P/S Multiple €26.21 €34.94 €43.68 58
P/B Multiple €31.58 €42.11 €52.64 55
EV/EBIT €50.35 €66.67 €83.00 63
EV/EBITDA €38.80 €51.27 €63.75 64
EV/Revenue €23.62 €33.15 €42.68 51
Asset-Based
NCAV (Graham) €4.36 €5.85 €8.73 51
Growth DCF
Growth DCF €51.88 €99.08 €198.56 68
Rev-Margin DCF €34.59 €62.91 €117.27 64
Economic Profit
Residual Income €16.98 €25.01 €57.76 61
ROIC Compounder €29.93 €45.03 €66.01 66
Growth Earnings
Growth-Adj P/E €66.62 €95.17 €123.72 65

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Quality Score breakdown

Overall quality 74/100

Of which business quality 73 · Market factors (momentum, volatility) 65

Profitability 75
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 87
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 14
Calm price path (market factor)
Momentum 84
Price trend over the last 3–12 months (market factor)
52W Momentum 91
Distance to the 52-week high (market factor)
Net Issuance 80
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+28.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+27.1%
What shareholders gained per year (last 3 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+35.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+35.8%
Dividend (yield on the price)0.0%
Profit margin 2022 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.35% → 43%
2025 sits 67% above its own trend. The rate follows the median trend of the last 3 years, not that single year.

Growth Forecast

A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+39.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+21.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +35.8% a year for the price and +18.5% for the forecasts.
Forecast 2026 (sales)+28.7%
Forecast 2027 (sales)+23.7%
Projected 2028 (sales)+21.0%
Projected 2029 (sales)+18.3%
Projected 2030 (sales)+15.6%

1ANET screens overvalued: fair value 43% below the price. Compare with Dell Technologies Inc →

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Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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Arista Networks, Inc · Fair Value
€104.78 −43%Fair Value
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Cite: Fair Value Calculator (2026). "Arista Networks, Inc Fair Value". https://www.fairvalue-calculator.com/stock/1ANET

Frequently asked questions

Is Arista Networks, Inc (1ANET) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of €104.78 versus a price of €183.06, about −43% upside (overvalued).
What is the fair value of 1ANET?
Our model-based fair value for Arista Networks, Inc is €104.78 (as of Sep 29, 2026), built from audited fundamentals. The current price: €183.06.
What is the quality score of 1ANET?
Arista Networks, Inc has a Quality Score of 74/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Arista Networks, Inc (1ANET)?
Our model-based price target is the fair value of €104.78 (as of Sep 29, 2026) from 24 valuation models. Cautious scenario €74.04, optimistic scenario €169.96. It is a calculation from audited fundamentals, not an analyst target.
What is the Arista Networks, Inc stock forecast for 2026?
Our models put fair value at €104.78, about −43% upside versus a price of €183.06 (overvalued). Cautious scenario €74.04, optimistic scenario €169.96. The calculation is refreshed regularly with new filings.
What is the revenue of Arista Networks, Inc (1ANET)?
Arista Networks, Inc reported trailing-twelve-month revenue of about $9.7B (latest available figure, as of Sep 29, 2026).
What growth is priced into Arista Networks, Inc (1ANET)?
For today's price to be fair in a discounted-cash-flow model, Arista Networks, Inc would have to grow free cash flow by +39.1 % per year for five years (discount rate 12.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +27.2 % per year. As of Sep 29, 2026.
What discount rate (WACC) does the fair value of 1ANET use?
Our models discount Arista Networks, Inc at 12.6 %: a base by market capitalisation (mega), damped by beta 1.60, country premium for Italy. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Arista Networks, Inc that is +39.1 % per year a year over ten years, using the same discount rate (12.6 %) and the same formula as our fair value.
How much growth has Arista Networks, Inc (1ANET) delivered so far?
Over the past 3 years revenue at Arista Networks, Inc grew +27.2 % a year. The price currently implies +39.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Arista Networks, Inc (1ANET) growing?
The median revenue growth in the sector is +15.2 % a year. That is the yardstick for the growth priced into Arista Networks, Inc (+39.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Arista Networks, Inc (1ANET)?
The free-cash-flow yield on the price is 1.64 %: that much free cash flow Arista Networks, Inc produces per unit of market value. When it exceeds the discount rate of our models (12.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Arista Networks, Inc (1ANET)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Arista Networks, Inc it is €104.78 per share (as of Sep 29, 2026), against a price of €183.06. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Arista Networks, Inc stock overvalued or undervalued in 2026?
As of Sep 29, 2026, 1ANET trades above its calculated fair value: price €183.06, fair value €104.78, a gap of about −43% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 1ANET?
No. The price is what the market pays today (€183.06); the fair value is what the company's own numbers justify (€104.78). For Arista Networks, Inc the two are €78.28 per share apart. That gap is exactly why we show both numbers side by side.
How much is Arista Networks, Inc worth?
The market values Arista Networks, Inc at about €230B (market capitalisation, as of Sep 29, 2026). Per share that is €183.06; our models calculate a fair value of €104.78 per share.
What do the bullish and bearish scenarios say about 1ANET?
Our models span a range for Arista Networks, Inc: cautious scenario €74.04, base €104.78, optimistic €169.96 per share (as of Sep 29, 2026, price €183.06). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 1ANET from its 52-week high?
Arista Networks, Inc trades at €183.06, at its 52-week high of €183.06 and 76% above the low of €104.18 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €104.78 is for.
Which stocks are comparable to Arista Networks, Inc?
From the same area (Technology) we also value Dell Technologies Inc, Seagate Technology Holdings, Western Digital Corporation, Wiwynn Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Arista Networks, Inc stock attractive at the current price?
The data as of Sep 29, 2026: price €183.06, calculated fair value €104.78 (−43%), Quality Score 74/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 1ANET calculated?
We run Arista Networks, Inc through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €104.78, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Arista Networks, Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Arista Networks, Inc (1ANET)?
The closing price on Oct 2, 2026 was €183.06. Our model-based fair value is €104.78, about −43% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Arista Networks, Inc right now?
A high-quality business (quality 74/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (€169.96). The favourable scenario is already priced in. A fairly wide model range (€74.04 to €169.96) leaves room in how you read the outcome.

Key figures of Arista Networks, Inc

How large is the market capitalisation of Arista Networks, Inc (1ANET)?
The market capitalisation of Arista Networks, Inc is €230B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Arista Networks, Inc (1ANET)?
The price-to-earnings ratio of Arista Networks, Inc is 71.5. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Arista Networks, Inc (1ANET)?
The price-to-sales ratio of Arista Networks, Inc is 27.9 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Arista Networks, Inc (1ANET)?
Earnings per share at Arista Networks, Inc are €2.56 (price ÷ EPS = P/E 71.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Arista Networks, Inc (1ANET)?
The net margin of Arista Networks, Inc is 39.0% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Arista Networks, Inc (1ANET)?
The return on equity (ROE) of Arista Networks, Inc is 31.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Arista Networks, Inc (1ANET)?
On an EBIT basis the return on assets of Arista Networks, Inc is 21.5% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Arista Networks, Inc (1ANET)?
The operating margin of Arista Networks, Inc is 42.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Arista Networks, Inc (1ANET)?
Revenue at Arista Networks, Inc is growing +35.1% versus a year earlier (3y avg +27.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Arista Networks, Inc (1ANET)?
Earnings per share at Arista Networks, Inc are growing +25.0% versus a year earlier. How much earnings per share grew versus a year earlier.
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