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Side-by-side financial comparison of Arista Networks (ANET) and F5, Inc. (FFIV). Click either name above to swap in a different company.
Arista Networks is the larger business by last-quarter revenue ($2.5B vs $822.5M, roughly 3.0× F5, Inc.). Arista Networks runs the higher net margin — 38.4% vs 21.9%, a 16.5% gap on every dollar of revenue. On growth, Arista Networks posted the faster year-over-year revenue change (28.9% vs 7.3%). Over the past eight quarters, Arista Networks's revenue compounded faster (25.8% CAGR vs 9.9%).
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...
F5, Inc. is an American technology company specializing in application security, multi-cloud management, online fraud prevention, application delivery networking (ADN), application availability and performance, and network security, access, and authorization.
ANET vs FFIV — Head-to-Head
Income Statement — Q4 2025 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $2.5B | $822.5M |
| Net Profit | $955.8M | $180.1M |
| Gross Margin | 62.9% | 81.5% |
| Operating Margin | 41.5% | 26.0% |
| Net Margin | 38.4% | 21.9% |
| Revenue YoY | 28.9% | 7.3% |
| Net Profit YoY | 19.3% | 8.2% |
| EPS (diluted) | $0.74 | $3.10 |
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 | $822.5M | ||
| Q3 25 | $2.3B | $810.1M | ||
| Q2 25 | $2.2B | $780.4M | ||
| Q1 25 | $2.0B | $731.1M | ||
| Q4 24 | $1.9B | $766.5M | ||
| Q3 24 | $1.8B | $746.7M | ||
| Q2 24 | $1.7B | $695.5M | ||
| Q1 24 | $1.6B | $681.4M |
| Q4 25 | $955.8M | $180.1M | ||
| Q3 25 | $853.0M | $190.5M | ||
| Q2 25 | $888.8M | $189.9M | ||
| Q1 25 | $813.8M | $145.5M | ||
| Q4 24 | $801.0M | $166.4M | ||
| Q3 24 | $747.9M | $165.3M | ||
| Q2 24 | $665.4M | $144.1M | ||
| Q1 24 | $637.7M | $119.0M |
| Q4 25 | 62.9% | 81.5% | ||
| Q3 25 | 64.6% | 82.2% | ||
| Q2 25 | 65.2% | 81.0% | ||
| Q1 25 | 63.7% | 80.7% | ||
| Q4 24 | 63.8% | 81.7% | ||
| Q3 24 | 64.2% | 80.8% | ||
| Q2 24 | 64.9% | 80.4% | ||
| Q1 24 | 63.7% | 79.3% |
| Q4 25 | 41.5% | 26.0% | ||
| Q3 25 | 42.4% | 25.4% | ||
| Q2 25 | 44.7% | 25.2% | ||
| Q1 25 | 42.8% | 21.7% | ||
| Q4 24 | 41.4% | 26.8% | ||
| Q3 24 | 43.4% | 25.6% | ||
| Q2 24 | 41.4% | 23.4% | ||
| Q1 24 | 42.0% | 20.5% |
| Q4 25 | 38.4% | 21.9% | ||
| Q3 25 | 37.0% | 23.5% | ||
| Q2 25 | 40.3% | 24.3% | ||
| Q1 25 | 40.6% | 19.9% | ||
| Q4 24 | 41.5% | 21.7% | ||
| Q3 24 | 41.3% | 22.1% | ||
| Q2 24 | 39.4% | 20.7% | ||
| Q1 24 | 40.6% | 17.5% |
| Q4 25 | $0.74 | $3.10 | ||
| Q3 25 | $0.67 | $3.25 | ||
| Q2 25 | $0.70 | $3.25 | ||
| Q1 25 | $0.64 | $2.48 | ||
| Q4 24 | $-4.17 | $2.82 | ||
| Q3 24 | $2.33 | $2.79 | ||
| Q2 24 | $2.08 | $2.44 | ||
| Q1 24 | $1.99 | $2.00 |
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 | $1.2B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $12.4B | $3.5B |
| Total Assets | $19.4B | $6.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | $1.2B | ||
| Q3 25 | $2.3B | $1.3B | ||
| Q2 25 | $2.2B | $1.4B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $2.8B | $1.2B | ||
| Q3 24 | $3.2B | $1.1B | ||
| Q2 24 | $2.4B | $935.6M | ||
| Q1 24 | $2.1B | $903.5M |
| Q4 25 | $12.4B | $3.5B | ||
| Q3 25 | $11.9B | $3.6B | ||
| Q2 25 | $10.9B | $3.5B | ||
| Q1 25 | $10.1B | $3.3B | ||
| Q4 24 | $10.0B | $3.2B | ||
| Q3 24 | $9.2B | $3.1B | ||
| Q2 24 | $8.4B | $3.0B | ||
| Q1 24 | $7.9B | $2.9B |
| Q4 25 | $19.4B | $6.3B | ||
| Q3 25 | $18.0B | $6.3B | ||
| Q2 25 | $16.5B | $6.1B | ||
| Q1 25 | $14.5B | $5.9B | ||
| Q4 24 | $14.0B | $5.9B | ||
| Q3 24 | $12.8B | $5.6B | ||
| Q2 24 | $11.6B | $5.4B | ||
| Q1 24 | $10.6B | $5.4B |
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 | $159.2M |
| Free Cash FlowOCF − Capex | — | $149.5M |
| FCF MarginFCF / Revenue | — | 18.2% |
| Capex IntensityCapex / Revenue | — | 1.2% |
| Cash ConversionOCF / Net Profit | 1.32× | 0.88× |
| TTM Free Cash FlowTrailing 4 quarters | — | $861.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $159.2M | ||
| Q3 25 | $1.3B | $208.1M | ||
| Q2 25 | $1.2B | $282.2M | ||
| Q1 25 | $641.7M | $256.6M | ||
| Q4 24 | $1.0B | $202.8M | ||
| Q3 24 | $1.2B | $246.5M | ||
| Q2 24 | $989.0M | $159.0M | ||
| Q1 24 | $513.8M | $221.6M |
| Q4 25 | — | $149.5M | ||
| Q3 25 | $1.2B | $191.9M | ||
| Q2 25 | $1.2B | $273.7M | ||
| Q1 25 | $613.3M | $246.1M | ||
| Q4 24 | — | $194.7M | ||
| Q3 24 | $1.2B | $240.4M | ||
| Q2 24 | $985.9M | $153.1M | ||
| Q1 24 | $504.4M | $212.2M |
| Q4 25 | — | 18.2% | ||
| Q3 25 | 53.6% | 23.7% | ||
| Q2 25 | 53.3% | 35.1% | ||
| Q1 25 | 30.6% | 33.7% | ||
| Q4 24 | — | 25.4% | ||
| Q3 24 | 64.5% | 32.2% | ||
| Q2 24 | 58.3% | 22.0% | ||
| Q1 24 | 32.1% | 31.1% |
| Q4 25 | — | 1.2% | ||
| Q3 25 | 1.3% | 2.0% | ||
| Q2 25 | 1.1% | 1.1% | ||
| Q1 25 | 1.4% | 1.4% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | 0.4% | 0.8% | ||
| Q2 24 | 0.2% | 0.8% | ||
| Q1 24 | 0.6% | 1.4% |
| Q4 25 | 1.32× | 0.88× | ||
| Q3 25 | 1.49× | 1.09× | ||
| Q2 25 | 1.35× | 1.49× | ||
| Q1 25 | 0.79× | 1.76× | ||
| Q4 24 | 1.29× | 1.22× | ||
| Q3 24 | 1.57× | 1.49× | ||
| Q2 24 | 1.49× | 1.10× | ||
| Q1 24 | 0.81× | 1.86× |
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% |
FFIV
| Services | $412.2M | 50% |
| Products | $410.3M | 50% |
