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Arista Networks（ANET）与Fastenal（FAST）财务数据对比。点击上方公司名可切换其他公司
Arista Networks的季度营收约是Fastenal的1.2倍（$2.5B vs $2.0B），Arista Networks净利率更高（38.4% vs 14.5%，领先23.9%），Arista Networks同比增速更快（28.9% vs 3.5%），过去两年Arista Networks的营收复合增速更高（25.8% vs 2.9%）
Arista Networks是总部位于美国加利福尼亚州圣克拉拉的计算机网络企业，专注于设计销售多层网络交换机，为大型数据中心、云计算、高性能计算、高频交易等场景提供软件定义网络（SDN）解决方案，旗下拥有10G至800G系列低延迟直通以太网交换机，搭载自研基于Linux的可扩展操作系统EOS。
Fastenal是1967年成立的美国上市企业，总部位于明尼苏达州威诺纳，是北美最大的紧固件分销商，同时也是工业和建筑用品的主流供应商，可提供货柜备货、智能售货柜、库存管理、物流配送等一站式供应链解决方案。
ANET vs FAST — 直观对比
营收规模更大
ANET
是对方的1.2倍
$2.0B
营收增速更快
ANET
高出25.4%
3.5%
净利率更高
ANET
高出23.9%
14.5%
两年增速更快
ANET
近两年复合增速
2.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $2.0B |
| 净利润 | $955.8M | $293.9M |
| 毛利率 | 62.9% | 44.3% |
| 营业利润率 | 41.5% | 18.9% |
| 净利率 | 38.4% | 14.5% |
| 营收同比 | 28.9% | 3.5% |
| 净利润同比 | 19.3% | -1.6% |
| 每股收益（稀释后） | $0.74 | $-0.01 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ANETFAST
| Q1 26 | — | $2.0B | ||
| Q4 25 | $2.5B | $2.0B | ||
| Q3 25 | $2.3B | $2.1B | ||
| Q2 25 | $2.2B | $2.1B | ||
| Q1 25 | $2.0B | $2.0B | ||
| Q4 24 | $1.9B | $1.8B | ||
| Q3 24 | $1.8B | $1.9B | ||
| Q2 24 | $1.7B | $1.9B |
净利润ANETFAST
| Q1 26 | — | $293.9M | ||
| Q4 25 | $955.8M | $293.9M | ||
| Q3 25 | $853.0M | $335.5M | ||
| Q2 25 | $888.8M | $330.3M | ||
| Q1 25 | $813.8M | $298.7M | ||
| Q4 24 | $801.0M | $262.1M | ||
| Q3 24 | $747.9M | $298.1M | ||
| Q2 24 | $665.4M | $292.7M |
毛利率ANETFAST
| Q1 26 | — | 44.3% | ||
| Q4 25 | 62.9% | 44.3% | ||
| Q3 25 | 64.6% | 45.3% | ||
| Q2 25 | 65.2% | 45.3% | ||
| Q1 25 | 63.7% | 45.1% | ||
| Q4 24 | 63.8% | 44.8% | ||
| Q3 24 | 64.2% | 44.9% | ||
| Q2 24 | 64.9% | 45.1% |
营业利润率ANETFAST
| Q1 26 | — | 18.9% | ||
| Q4 25 | 41.5% | 18.9% | ||
| Q3 25 | 42.4% | 20.7% | ||
| Q2 25 | 44.7% | 21.0% | ||
| Q1 25 | 42.8% | 20.1% | ||
| Q4 24 | 41.4% | 18.9% | ||
| Q3 24 | 43.4% | 20.3% | ||
| Q2 24 | 41.4% | 20.2% |
净利率ANETFAST
| Q1 26 | — | 14.5% | ||
| Q4 25 | 38.4% | 14.5% | ||
| Q3 25 | 37.0% | 15.7% | ||
| Q2 25 | 40.3% | 15.9% | ||
| Q1 25 | 40.6% | 15.2% | ||
| Q4 24 | 41.5% | 14.4% | ||
| Q3 24 | 41.3% | 15.6% | ||
| Q2 24 | 39.4% | 15.3% |
每股收益（稀释后）ANETFAST
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $0.74 | $-0.01 | ||
| Q3 25 | $0.67 | $0.29 | ||
| Q2 25 | $0.70 | $0.29 | ||
| Q1 25 | $0.64 | $0.52 | ||
| Q4 24 | $-4.17 | $0.45 | ||
| Q3 24 | $2.33 | $0.52 | ||
| Q2 24 | $2.08 | $0.51 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $2.0B | $276.8M |
| 总债务越低越好 | — | $125.0M |
| 股东权益账面价值 | $12.4B | $3.9B |
| 总资产 | $19.4B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.03× |
8季度趋势，按日历期对齐
现金及短期投资ANETFAST
| Q1 26 | — | $276.8M | ||
| Q4 25 | $2.0B | $276.8M | ||
| Q3 25 | $2.3B | $288.1M | ||
| Q2 25 | $2.2B | $237.8M | ||
| Q1 25 | $1.8B | $231.8M | ||
| Q4 24 | $2.8B | $255.8M | ||
| Q3 24 | $3.2B | $292.2M | ||
| Q2 24 | $2.4B | $255.5M |
总债务ANETFAST
| Q1 26 | — | $125.0M | ||
| Q4 25 | — | $125.0M | ||
| Q3 25 | — | $195.0M | ||
| Q2 25 | — | $230.0M | ||
| Q1 25 | — | $200.0M | ||
| Q4 24 | — | $200.0M | ||
| Q3 24 | — | $240.0M | ||
| Q2 24 | — | $235.0M |
股东权益ANETFAST
| Q1 26 | — | $3.9B | ||
| Q4 25 | $12.4B | $3.9B | ||
| Q3 25 | $11.9B | $3.9B | ||
| Q2 25 | $10.9B | $3.8B | ||
| Q1 25 | $10.1B | $3.7B | ||
| Q4 24 | $10.0B | $3.6B | ||
| Q3 24 | $9.2B | $3.6B | ||
| Q2 24 | $8.4B | $3.5B |
总资产ANETFAST
| Q1 26 | — | $5.1B | ||
| Q4 25 | $19.4B | $5.1B | ||
| Q3 25 | $18.0B | $5.1B | ||
| Q2 25 | $16.5B | $5.0B | ||
| Q1 25 | $14.5B | $4.9B | ||
| Q4 24 | $14.0B | $4.7B | ||
| Q3 24 | $12.8B | $4.7B | ||
| Q2 24 | $11.6B | $4.6B |
负债/权益比ANETFAST
| Q1 26 | — | 0.03× | ||
| Q4 25 | — | 0.03× | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.06× | ||
| Q1 25 | — | 0.05× | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.07× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $1.3B | $368.2M |
| 自由现金流经营现金流 - 资本支出 | — | $308.2M |
| 自由现金流率自由现金流/营收 | — | 15.2% |
| 资本支出强度资本支出/营收 | — | 3.0% |
| 现金转化率经营现金流/净利润 | 1.32× | 1.25× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流ANETFAST
| Q1 26 | — | $368.2M | ||
| Q4 25 | $1.3B | $368.2M | ||
| Q3 25 | $1.3B | $386.9M | ||
| Q2 25 | $1.2B | $278.6M | ||
| Q1 25 | $641.7M | $262.2M | ||
| Q4 24 | $1.0B | $282.8M | ||
| Q3 24 | $1.2B | $296.9M | ||
| Q2 24 | $989.0M | $258.0M |
自由现金流ANETFAST
| Q1 26 | — | $308.2M | ||
| Q4 25 | — | $308.2M | ||
| Q3 25 | $1.2B | $326.6M | ||
| Q2 25 | $1.2B | $209.3M | ||
| Q1 25 | $613.3M | $206.5M | ||
| Q4 24 | — | $222.6M | ||
| Q3 24 | $1.2B | $237.5M | ||
| Q2 24 | $985.9M | $201.9M |
自由现金流率ANETFAST
| Q1 26 | — | 15.2% | ||
| Q4 25 | — | 15.2% | ||
| Q3 25 | 53.6% | 15.3% | ||
| Q2 25 | 53.3% | 10.1% | ||
| Q1 25 | 30.6% | 10.5% | ||
| Q4 24 | — | 12.2% | ||
| Q3 24 | 64.5% | 12.4% | ||
| Q2 24 | 58.3% | 10.5% |
资本支出强度ANETFAST
| Q1 26 | — | 3.0% | ||
| Q4 25 | — | 3.0% | ||
| Q3 25 | 1.3% | 2.8% | ||
| Q2 25 | 1.1% | 3.3% | ||
| Q1 25 | 1.4% | 2.8% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | 0.4% | 3.1% | ||
| Q2 24 | 0.2% | 2.9% |
现金转化率ANETFAST
| Q1 26 | — | 1.25× | ||
| Q4 25 | 1.32× | 1.25× | ||
| Q3 25 | 1.49× | 1.15× | ||
| Q2 25 | 1.35× | 0.84× | ||
| Q1 25 | 0.79× | 0.88× | ||
| Q4 24 | 1.29× | 1.08× | ||
| Q3 24 | 1.57× | 1.00× | ||
| Q2 24 | 1.49× | 0.88× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ANET
| Products | $2.1B | 84% |
| Services | $392.1M | 16% |
FAST
| Reportable Segment Aggregation Before Other Operating Segment | $1.8B | 90% |
| Other | $211.2M | 10% |
