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Side-by-side financial comparison of Arista Networks (ANET) and ECARX Holdings Inc. (ECX). Click either name above to swap in a different company.
Arista Networks is the larger business by last-quarter revenue ($2.5B vs $323.3M, roughly 7.7× ECARX Holdings Inc.). Arista Networks runs the higher net margin — 38.4% vs -21.4%, a 59.8% gap on every dollar of revenue. On growth, Arista Networks posted the faster year-over-year revenue change (28.9% vs 6.5%).
Arista Networks, Inc. is an American computer networking company headquartered in Santa Clara, California. The company designs and sells multilayer network switches to deliver software-defined networking (SDN) for large datacenter, cloud computing, high-performance computing, and high-frequency trading environments. These products include 10/25/40/50/100/200/400/800 gigabit low-latency cut-through Ethernet switches. Arista's Linux-based network operating system, Extensible Operating System (E...
ECARX Holdings Inc. is a global mobility technology provider specializing in integrated smart vehicle solutions, including in-vehicle infotainment systems, advanced driver assistance technologies, and connected car cloud services. It primarily partners with automotive manufacturers across the world, with a strong operational presence in the Chinese and European markets.
ANET vs ECX — Head-to-Head
Income Statement — Q4 2025 vs Q2 2025
| Metric | | |
|---|---|---|
| Revenue | $2.5B | $323.3M |
| Net Profit | $955.8M | $-69.1M |
| Gross Margin | 62.9% | 15.5% |
| Operating Margin | 41.5% | -20.2% |
| Net Margin | 38.4% | -21.4% |
| Revenue YoY | 28.9% | 6.5% |
| Net Profit YoY | 19.3% | 12.8% |
| EPS (diluted) | $0.74 | $-0.20 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.2B | $323.3M | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.7B | $303.5M | ||
| Q1 24 | $1.6B | — |
| Q4 25 | $955.8M | — | ||
| Q3 25 | $853.0M | — | ||
| Q2 25 | $888.8M | $-69.1M | ||
| Q1 25 | $813.8M | — | ||
| Q4 24 | $801.0M | — | ||
| Q3 24 | $747.9M | — | ||
| Q2 24 | $665.4M | $-79.2M | ||
| Q1 24 | $637.7M | — |
| Q4 25 | 62.9% | — | ||
| Q3 25 | 64.6% | — | ||
| Q2 25 | 65.2% | 15.5% | ||
| Q1 25 | 63.7% | — | ||
| Q4 24 | 63.8% | — | ||
| Q3 24 | 64.2% | — | ||
| Q2 24 | 64.9% | 22.6% | ||
| Q1 24 | 63.7% | — |
| Q4 25 | 41.5% | — | ||
| Q3 25 | 42.4% | — | ||
| Q2 25 | 44.7% | -20.2% | ||
| Q1 25 | 42.8% | — | ||
| Q4 24 | 41.4% | — | ||
| Q3 24 | 43.4% | — | ||
| Q2 24 | 41.4% | -22.2% | ||
| Q1 24 | 42.0% | — |
| Q4 25 | 38.4% | — | ||
| Q3 25 | 37.0% | — | ||
| Q2 25 | 40.3% | -21.4% | ||
| Q1 25 | 40.6% | — | ||
| Q4 24 | 41.5% | — | ||
| Q3 24 | 41.3% | — | ||
| Q2 24 | 39.4% | -26.1% | ||
| Q1 24 | 40.6% | — |
| Q4 25 | $0.74 | — | ||
| Q3 25 | $0.67 | — | ||
| Q2 25 | $0.70 | $-0.20 | ||
| Q1 25 | $0.64 | — | ||
| Q4 24 | $-4.17 | — | ||
| Q3 24 | $2.33 | — | ||
| Q2 24 | $2.08 | $-0.23 | ||
| Q1 24 | $1.99 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.0B | $86.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $12.4B | $-293.7M |
| Total Assets | $19.4B | $494.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.2B | $86.2M | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $2.4B | $108.4M | ||
| Q1 24 | $2.1B | — |
| Q4 25 | $12.4B | — | ||
| Q3 25 | $11.9B | — | ||
| Q2 25 | $10.9B | $-293.7M | ||
| Q1 25 | $10.1B | — | ||
| Q4 24 | $10.0B | — | ||
| Q3 24 | $9.2B | — | ||
| Q2 24 | $8.4B | $-198.5M | ||
| Q1 24 | $7.9B | — |
| Q4 25 | $19.4B | — | ||
| Q3 25 | $18.0B | — | ||
| Q2 25 | $16.5B | $494.9M | ||
| Q1 25 | $14.5B | — | ||
| Q4 24 | $14.0B | — | ||
| Q3 24 | $12.8B | — | ||
| Q2 24 | $11.6B | $555.0M | ||
| Q1 24 | $10.6B | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.3B | $-82.0M |
| Free Cash FlowOCF − Capex | — | $-86.5M |
| FCF MarginFCF / Revenue | — | -26.7% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | 1.32× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.2B | $-82.0M | ||
| Q1 25 | $641.7M | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $989.0M | $-57.1M | ||
| Q1 24 | $513.8M | — |
| Q4 25 | — | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | $-86.5M | ||
| Q1 25 | $613.3M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $985.9M | $-64.9M | ||
| Q1 24 | $504.4M | — |
| Q4 25 | — | — | ||
| Q3 25 | 53.6% | — | ||
| Q2 25 | 53.3% | -26.7% | ||
| Q1 25 | 30.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 64.5% | — | ||
| Q2 24 | 58.3% | -21.4% | ||
| Q1 24 | 32.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 1.1% | 1.4% | ||
| Q1 25 | 1.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.2% | 2.6% | ||
| Q1 24 | 0.6% | — |
| Q4 25 | 1.32× | — | ||
| Q3 25 | 1.49× | — | ||
| Q2 25 | 1.35× | — | ||
| Q1 25 | 0.79× | — | ||
| Q4 24 | 1.29× | — | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 1.49× | — | ||
| Q1 24 | 0.81× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ANET
| Products | $2.1B | 84% |
| Services | $392.1M | 16% |
ECX
Segment breakdown not available.
