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Side-by-side financial comparison of Arista Networks (ANET) and Royal Caribbean Group (RCL). Click either name above to swap in a different company.
Royal Caribbean Group is the larger business by last-quarter revenue ($4.5B vs $2.5B, roughly 1.8× Arista Networks). Arista Networks runs the higher net margin — 38.4% vs 21.3%, a 17.1% gap on every dollar of revenue. On growth, Arista Networks posted the faster year-over-year revenue change (28.9% vs 11.3%). Over the past eight quarters, Arista Networks's revenue compounded faster (25.8% CAGR vs 4.1%).
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...
Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a cruise holding company headquartered in Miami, Florida, United States and incorporated in Liberia. It is the world's second-largest cruise line operator, after Carnival Corporation & plc. As of September 2025, Royal Caribbean Group fully owns three cruise lines: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. It also holds a 50% stake in TUI Cruises, which operates Mein Schiff and Hapag-Lloyd ...
ANET vs RCL — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.5B | $4.5B |
| Net Profit | $955.8M | $950.0M |
| Gross Margin | 62.9% | — |
| Operating Margin | 41.5% | 26.1% |
| Net Margin | 38.4% | 21.3% |
| Revenue YoY | 28.9% | 11.3% |
| Net Profit YoY | 19.3% | 29.1% |
| EPS (diluted) | $0.74 | $3.48 |
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.
| Q1 26 | — | $4.5B | ||
| Q4 25 | $2.5B | $4.3B | ||
| Q3 25 | $2.3B | $5.1B | ||
| Q2 25 | $2.2B | $4.5B | ||
| Q1 25 | $2.0B | $4.0B | ||
| Q4 24 | $1.9B | $3.8B | ||
| Q3 24 | $1.8B | $4.9B | ||
| Q2 24 | $1.7B | $4.1B |
| Q1 26 | — | $950.0M | ||
| Q4 25 | $955.8M | $753.0M | ||
| Q3 25 | $853.0M | $1.6B | ||
| Q2 25 | $888.8M | $1.2B | ||
| Q1 25 | $813.8M | $730.0M | ||
| Q4 24 | $801.0M | $552.0M | ||
| Q3 24 | $747.9M | $1.1B | ||
| Q2 24 | $665.4M | $854.0M |
| Q1 26 | — | — | ||
| Q4 25 | 62.9% | 47.4% | ||
| Q3 25 | 64.6% | 51.8% | ||
| Q2 25 | 65.2% | 49.7% | ||
| Q1 25 | 63.7% | 48.0% | ||
| Q4 24 | 63.8% | 45.4% | ||
| Q3 24 | 64.2% | 51.1% | ||
| Q2 24 | 64.9% | 47.6% |
| Q1 26 | — | 26.1% | ||
| Q4 25 | 41.5% | 21.9% | ||
| Q3 25 | 42.4% | 33.1% | ||
| Q2 25 | 44.7% | 29.3% | ||
| Q1 25 | 42.8% | 23.6% | ||
| Q4 24 | 41.4% | 16.6% | ||
| Q3 24 | 43.4% | 33.4% | ||
| Q2 24 | 41.4% | 26.7% |
| Q1 26 | — | 21.3% | ||
| Q4 25 | 38.4% | 17.7% | ||
| Q3 25 | 37.0% | 30.6% | ||
| Q2 25 | 40.3% | 26.7% | ||
| Q1 25 | 40.6% | 18.3% | ||
| Q4 24 | 41.5% | 14.7% | ||
| Q3 24 | 41.3% | 22.7% | ||
| Q2 24 | 39.4% | 20.8% |
| Q1 26 | — | $3.48 | ||
| Q4 25 | $0.74 | $2.76 | ||
| Q3 25 | $0.67 | $5.74 | ||
| Q2 25 | $0.70 | $4.41 | ||
| Q1 25 | $0.64 | $2.70 | ||
| Q4 24 | $-4.17 | $2.27 | ||
| Q3 24 | $2.33 | $4.21 | ||
| Q2 24 | $2.08 | $3.11 |
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 | $512.0M |
| Total DebtLower is stronger | — | $21.1B |
| Stockholders' EquityBook value | $12.4B | $10.0B |
| Total Assets | $19.4B | $42.0B |
| Debt / EquityLower = less leverage | — | 2.11× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $512.0M | ||
| Q4 25 | $2.0B | $825.0M | ||
| Q3 25 | $2.3B | $432.0M | ||
| Q2 25 | $2.2B | $735.0M | ||
| Q1 25 | $1.8B | $386.0M | ||
| Q4 24 | $2.8B | $388.0M | ||
| Q3 24 | $3.2B | $418.0M | ||
| Q2 24 | $2.4B | $391.0M |
| Q1 26 | — | $21.1B | ||
| Q4 25 | — | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B |
| Q1 26 | — | $10.0B | ||
| Q4 25 | $12.4B | $10.0B | ||
| Q3 25 | $11.9B | $10.1B | ||
| Q2 25 | $10.9B | $9.2B | ||
| Q1 25 | $10.1B | $8.0B | ||
| Q4 24 | $10.0B | $7.6B | ||
| Q3 24 | $9.2B | $7.0B | ||
| Q2 24 | $8.4B | $6.0B |
| Q1 26 | — | $42.0B | ||
| Q4 25 | $19.4B | $41.6B | ||
| Q3 25 | $18.0B | $40.1B | ||
| Q2 25 | $16.5B | $38.5B | ||
| Q1 25 | $14.5B | $37.5B | ||
| Q4 24 | $14.0B | $37.1B | ||
| Q3 24 | $12.8B | $37.1B | ||
| Q2 24 | $11.6B | $37.0B |
| Q1 26 | — | 2.11× | ||
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× |
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 | $1.8B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.32× | 1.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.8B | ||
| Q4 25 | $1.3B | $1.6B | ||
| Q3 25 | $1.3B | $1.5B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $641.7M | $1.6B | ||
| Q4 24 | $1.0B | $1.5B | ||
| Q3 24 | $1.2B | $897.0M | ||
| Q2 24 | $989.0M | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | $116.0M | ||
| Q3 25 | $1.2B | $-989.0M | ||
| Q2 25 | $1.2B | $910.0M | ||
| Q1 25 | $613.3M | $1.2B | ||
| Q4 24 | — | $915.0M | ||
| Q3 24 | $1.2B | $563.0M | ||
| Q2 24 | $985.9M | $-567.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.7% | ||
| Q3 25 | 53.6% | -19.2% | ||
| Q2 25 | 53.3% | 20.1% | ||
| Q1 25 | 30.6% | 30.0% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | 64.5% | 11.5% | ||
| Q2 24 | 58.3% | -13.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 35.4% | ||
| Q3 25 | 1.3% | 47.8% | ||
| Q2 25 | 1.1% | 18.4% | ||
| Q1 25 | 1.4% | 10.7% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | 0.4% | 6.8% | ||
| Q2 24 | 0.2% | 52.1% |
| Q1 26 | — | 1.93× | ||
| Q4 25 | 1.32× | 2.16× | ||
| Q3 25 | 1.49× | 0.93× | ||
| Q2 25 | 1.35× | 1.44× | ||
| Q1 25 | 0.79× | 2.23× | ||
| Q4 24 | 1.29× | 2.66× | ||
| Q3 24 | 1.57× | 0.81× | ||
| Q2 24 | 1.49× | 1.84× |
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% |
RCL
| Passenger ticket revenues | $3.0B | 68% |
| Onboard and other revenues | $1.4B | 32% |
