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Arista Networks（ANET）与SIRIUS XM HOLDINGS INC.（SIRI）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SIRIUS XM HOLDINGS INC.的1.1倍（$2.5B vs $2.2B），Arista Networks净利率更高（38.4% vs 4.5%，领先33.9%），Arista Networks同比增速更快（28.9% vs 0.2%），过去两年Arista Networks的营收复合增速更高（25.8% vs 0.7%）
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。
天狼星XM控股旗下的XM卫星广播是美国及加拿大三大卫星与在线广播服务商之一，采用类似付费有线电视的订阅制模式运营。平台拥有73个音乐频道、39个新闻、体育、访谈及娱乐频道，另设21个区域交通气象频道与23个体育赛事直播频道，服务覆盖北美大量付费用户。
ANET vs SIRI — 直观对比
营收规模更大
ANET
是对方的1.1倍
$2.2B
营收增速更快
ANET
高出28.6%
0.2%
净利率更高
ANET
高出33.9%
4.5%
两年增速更快
ANET
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $2.2B |
| 净利润 | $955.8M | $99.0M |
| 毛利率 | 62.9% | 53.1% |
| 营业利润率 | 41.5% | 10.3% |
| 净利率 | 38.4% | 4.5% |
| 营收同比 | 28.9% | 0.2% |
| 净利润同比 | 19.3% | -55.4% |
| 每股收益（稀释后） | $0.74 | $0.23 |
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ANETSIRI
| Q4 25 | $2.5B | $2.2B | ||
| Q3 25 | $2.3B | $2.2B | ||
| Q2 25 | $2.2B | $2.1B | ||
| Q1 25 | $2.0B | $2.1B | ||
| Q4 24 | $1.9B | $2.2B | ||
| Q3 24 | $1.8B | $2.2B | ||
| Q2 24 | $1.7B | $2.2B | ||
| Q1 24 | $1.6B | $2.2B |
净利润ANETSIRI
| Q4 25 | $955.8M | $99.0M | ||
| Q3 25 | $853.0M | $297.0M | ||
| Q2 25 | $888.8M | $205.0M | ||
| Q1 25 | $813.8M | $204.0M | ||
| Q4 24 | $801.0M | $222.0M | ||
| Q3 24 | $747.9M | $-2.5B | ||
| Q2 24 | $665.4M | $304.0M | ||
| Q1 24 | $637.7M | $265.0M |
毛利率ANETSIRI
| Q4 25 | 62.9% | 53.1% | ||
| Q3 25 | 64.6% | 52.2% | ||
| Q2 25 | 65.2% | 52.4% | ||
| Q1 25 | 63.7% | 52.0% | ||
| Q4 24 | 63.8% | 52.9% | ||
| Q3 24 | 64.2% | 53.2% | ||
| Q2 24 | 64.9% | 53.5% | ||
| Q1 24 | 63.7% | 52.5% |
营业利润率ANETSIRI
| Q4 25 | 41.5% | 10.3% | ||
| Q3 25 | 42.4% | 22.8% | ||
| Q2 25 | 44.7% | 17.1% | ||
| Q1 25 | 42.8% | 18.7% | ||
| Q4 24 | 41.4% | 20.2% | ||
| Q3 24 | 43.4% | -133.6% | ||
| Q2 24 | 41.4% | 23.2% | ||
| Q1 24 | 42.0% | 20.2% |
净利率ANETSIRI
| Q4 25 | 38.4% | 4.5% | ||
| Q3 25 | 37.0% | 13.8% | ||
| Q2 25 | 40.3% | 9.6% | ||
| Q1 25 | 40.6% | 9.9% | ||
| Q4 24 | 41.5% | 10.1% | ||
| Q3 24 | 41.3% | -113.1% | ||
| Q2 24 | 39.4% | 14.0% | ||
| Q1 24 | 40.6% | 12.3% |
每股收益（稀释后）ANETSIRI
| Q4 25 | $0.74 | $0.23 | ||
| Q3 25 | $0.67 | $0.84 | ||
| Q2 25 | $0.70 | $0.57 | ||
| Q1 25 | $0.64 | $0.59 | ||
| Q4 24 | $-4.17 | $2.45 | ||
| Q3 24 | $2.33 | $-8.74 | ||
| Q2 24 | $2.08 | $0.08 | ||
| Q1 24 | $1.99 | $0.07 |
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 | $94.0M |
| 总债务越低越好 | — | $8.6B |
| 股东权益账面价值 | $12.4B | $11.6B |
| 总资产 | $19.4B | $27.2B |
| 负债/权益比越低杠杆越低 | — | 0.75× |
8季度趋势，按日历期对齐
现金及短期投资ANETSIRI
| Q4 25 | $2.0B | $94.0M | ||
| Q3 25 | $2.3B | $79.0M | ||
| Q2 25 | $2.2B | $92.0M | ||
| Q1 25 | $1.8B | $127.0M | ||
| Q4 24 | $2.8B | $162.0M | ||
| Q3 24 | $3.2B | $127.0M | ||
| Q2 24 | $2.4B | $100.0M | ||
| Q1 24 | $2.1B | $71.0M |
总债务ANETSIRI
| Q4 25 | — | $8.6B | ||
| Q3 25 | — | $9.0B | ||
| Q2 25 | — | $10.1B | ||
| Q1 25 | — | $10.4B | ||
| Q4 24 | — | $10.3B | ||
| Q3 24 | — | $10.1B | ||
| Q2 24 | — | $9.0B | ||
| Q1 24 | — | $8.7B |
股东权益ANETSIRI
| Q4 25 | $12.4B | $11.6B | ||
| Q3 25 | $11.9B | $11.6B | ||
| Q2 25 | $10.9B | $11.3B | ||
| Q1 25 | $10.1B | $11.2B | ||
| Q4 24 | $10.0B | $11.1B | ||
| Q3 24 | $9.2B | $10.9B | ||
| Q2 24 | $8.4B | $-2.1B | ||
| Q1 24 | $7.9B | $-2.4B |
总资产ANETSIRI
| Q4 25 | $19.4B | $27.2B | ||
| Q3 25 | $18.0B | $27.4B | ||
| Q2 25 | $16.5B | $27.3B | ||
| Q1 25 | $14.5B | $27.4B | ||
| Q4 24 | $14.0B | $27.5B | ||
| Q3 24 | $12.8B | $27.5B | ||
| Q2 24 | $11.6B | $11.2B | ||
| Q1 24 | $10.6B | $11.2B |
负债/权益比ANETSIRI
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.78× | ||
| Q2 25 | — | 0.89× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | — | 0.93× | ||
| Q3 24 | — | 0.93× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $680.0M |
| 自由现金流经营现金流 - 资本支出 | — | $536.0M |
| 自由现金流率自由现金流/营收 | — | 24.4% |
| 资本支出强度资本支出/营收 | — | 6.6% |
| 现金转化率经营现金流/净利润 | 1.32× | 6.87× |
| 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ANETSIRI
| Q4 25 | $1.3B | $680.0M | ||
| Q3 25 | $1.3B | $430.0M | ||
| Q2 25 | $1.2B | $546.0M | ||
| Q1 25 | $641.7M | $242.0M | ||
| Q4 24 | $1.0B | $679.0M | ||
| Q3 24 | $1.2B | $240.0M | ||
| Q2 24 | $989.0M | $514.0M | ||
| Q1 24 | $513.8M | $308.0M |
自由现金流ANETSIRI
| Q4 25 | — | $536.0M | ||
| Q3 25 | $1.2B | $255.0M | ||
| Q2 25 | $1.2B | $401.0M | ||
| Q1 25 | $613.3M | $53.0M | ||
| Q4 24 | — | $514.0M | ||
| Q3 24 | $1.2B | $24.0M | ||
| Q2 24 | $985.9M | $341.0M | ||
| Q1 24 | $504.4M | $134.0M |
自由现金流率ANETSIRI
| Q4 25 | — | 24.4% | ||
| Q3 25 | 53.6% | 11.8% | ||
| Q2 25 | 53.3% | 18.8% | ||
| Q1 25 | 30.6% | 2.6% | ||
| Q4 24 | — | 23.5% | ||
| Q3 24 | 64.5% | 1.1% | ||
| Q2 24 | 58.3% | 15.7% | ||
| Q1 24 | 32.1% | 6.2% |
资本支出强度ANETSIRI
| Q4 25 | — | 6.6% | ||
| Q3 25 | 1.3% | 8.1% | ||
| Q2 25 | 1.1% | 6.8% | ||
| Q1 25 | 1.4% | 9.1% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | 0.4% | 9.9% | ||
| Q2 24 | 0.2% | 7.9% | ||
| Q1 24 | 0.6% | 8.0% |
现金转化率ANETSIRI
| Q4 25 | 1.32× | 6.87× | ||
| Q3 25 | 1.49× | 1.45× | ||
| Q2 25 | 1.35× | 2.66× | ||
| Q1 25 | 0.79× | 1.19× | ||
| Q4 24 | 1.29× | 3.06× | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 1.49× | 1.69× | ||
| Q1 24 | 0.81× | 1.16× |
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% |
SIRI
| Subscription And Circulation | $1.6B | 74% |
| Advertising | $491.0M | 22% |
| Cost Of Sales Equipment Products And Services | $48.0M | 2% |
| Other Revenue | $28.0M | 1% |
