Arista Networks, Inc. (ANET) Spending and interest coverage
- R&D / revenue · 12 months: Value 12.96%; Formula and calculation Research and development expense / revenue. Period ending 2026-06-30..
- Stock-based compensation / revenue · 12 months: Value 4.77%; Formula and calculation Share-based compensation / revenue. Period ending 2026-06-30..
- Interest coverage · 12 months: Value (m); Formula and calculation Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified..
Spending and interest coverage
Overview →Financial period ending 2026-06-30; current quote (m). Amounts retain their stated periods and units.
| Metric | Value | Formula and calculation |
|---|---|---|
| R&D / revenue · 12 months | 12.96% | Research and development expense / revenue. Period ending 2026-06-30. $1.37B ÷ $10.54B × 100 ≈ 12.96% |
| Stock-based compensation / revenue · 12 months | 4.77% | Share-based compensation / revenue. Period ending 2026-06-30. $502.30M ÷ $10.54B × 100 ≈ 4.77% |
| Interest coverage · 12 months | (m) | Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified. Calculation unavailable: missing inputs remain (m). |
Calculation inputs
| Input | Amount with unit | Raw financial data |
|---|---|---|
| Research and development spending | 1.37B USD | Research and Development Expense |
| Revenue | 10.54B USD | Revenue from Contract with Customer, Excluding Assessed Tax |
| Stock-based compensation | 502.30M USD | Share-based Payment Arrangement, Noncash Expense |
| Operating income | 4.55B USD | Operating Income (Loss) |
| Interest expense · reported / estimated | (m) | Interest Expense · Estimated expense assumptions |
Latest interest expense basis: (m). Estimated values carry *; expand each history row’s basis for its dated balances and rate assumptions.
Calculated history
Changes compare with the next older row (previous quarter), unless explicitly labeled otherwise. Rolling 12-month growth compares two successive quarter-end rolling totals; it is not year-over-year growth.
| Period ending | Research and development spending (USD) | Revenue (USD) | Stock-based compensation (USD) | Operating income (USD) | Interest expense · reported / estimated (USD) | R&D / revenue | SBC / revenue | Interest coverage | Interest expense basis |
|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | $1.37B | $10.54B | $502.30M | $4.55B | (m) | 12.96% | 4.77% | (m) | (m) |
| 2026-03-31 | $1.31B | $9.71B | $467.10M | $4.16B | (m) | 13.54% | 4.81% | (m) | (m) |
| 2025-12-31 | $1.24B | $9.01B | $439.20M | $3.86B | (m) | 13.74% | 4.88% | (m) | (m) |
| 2025-09-30 | $1.17B | $8.45B | $406.86M | $3.62B | (m) | 13.90% | 4.82% | (m) | (m) |
| 2025-06-30 | $1.08B | $7.95B | $377.06M | $3.43B | (m) | 13.63% | 4.74% | (m) | (m) |
| 2025-03-31 | $1.05B | $7.44B | $371.16M | $3.14B | (m) | 14.18% | 4.99% | (m) | (m) |
| 2024-12-31 | $996.72M | $7.00B | $355.36M | $2.94B | (m) | 14.23% | 5.07% | (m) | (m) |
| 2024-09-30 | $923.18M | $6.61B | $335.99M | $2.78B | (m) | 13.96% | 5.08% | (m) | (m) |
| 2024-06-30 | $899.71M | $6.31B | $323.25M | $2.60B | (m) | 14.25% | 5.12% | (m) | (m) |
| 2024-03-31 | $861.90M | $6.08B | $311.09M | $2.43B | (m) | 14.18% | 5.12% | (m) | (m) |
| 2023-12-31 | $854.92M | $5.86B | $296.76M | $2.26B | (m) | 14.59% | 5.06% | (m) | (m) |
| 2023-09-30 | $833.86M | $5.60B | $280.35M | $2.09B | (m) | 14.90% | 5.01% | (m) | (m) |
| 2023-06-30 | $809.31M | $5.26B | $260.44M | $1.90B | (m) | 15.38% | 4.95% | (m) | (m) |
| 2023-03-31 | $757.80M | $4.86B | $243.54M | $1.73B | (m) | 15.61% | 5.02% | (m) | (m) |
| 2022-12-31 | $728.39M | $4.38B | $230.93M | $1.53B | (m) | 16.63% | 5.27% | (m) | (m) |
| 2022-09-30 | $695.85M | $3.93B | $217.22M | $1.32B | (m) | 17.71% | 5.53% | (m) | (m) |
| 2022-06-30 | $661.14M | $3.50B | $204.88M | $1.14B | (m) | 18.88% | 5.85% | (m) | (m) |
| 2022-03-31 | $626.27M | $3.16B | $199.60M | $996.43M | (m) | 19.83% | 6.32% | (m) | (m) |
| 2021-12-31 | $586.75M | $2.95B | $186.88M | $924.74M | (m) | 19.90% | 6.34% | (m) | (m) |
| 2021-09-30 | $562.72M | $2.77B | $175.73M | $853.59M | (m) | 20.30% | 6.34% | (m) | (m) |
| 2021-06-30 | $537.68M | $2.63B | $159.06M | $808.69M | (m) | 20.45% | 6.05% | (m) | (m) |
| 2021-03-31 | $505.93M | $2.46B | $147.04M | $756.31M | (m) | 20.55% | 5.97% | (m) | (m) |
| 2020-12-31 | $486.59M | $2.32B | $137.04M | $699.68M | (m) | 21.00% | 5.91% | (m) | (m) |
| 2020-09-30 | $462.81M | $2.22B | $123.38M | $681.03M | (m) | 20.83% | 5.55% | (m) | (m) |
| 2020-06-30 | $453.49M | $2.27B | $113.17M | $721.25M | (m) | 19.97% | 4.98% | (m) | (m) |
| 2020-03-31 | $456.24M | $2.34B | $104.55M | $761.09M | (m) | 19.51% | 4.47% | (m) | (m) |
| 2019-12-31 | $462.76M | $2.41B | $101.28M | $805.77M | (m) | 19.20% | 4.20% | (m) | (m) |
| 2019-09-30 | $471.13M | $2.45B | $99.46M | $823.43M | $661.00K | 19.20% | 4.05% | 1245.73× | Reported |
| 2019-06-30 | $469.99M | $2.36B | $96.46M | $775.59M | $1.33M | 19.89% | 4.08% | 581.40× | Reported |
| 2019-03-31 | $459.77M | $2.27B | $94.64M | $328.95M | $2.01M | 20.22% | 4.16% | 163.33× | Reported |
| 2018-12-31 | $442.47M | $2.15B | $91.20M | $273.35M | $2.70M | 20.57% | 4.24% | 101.20× | Reported |
| 2018-09-30 | $431.21M | $2.02B | $87.02M | $219.09M | (m) | 21.31% | 4.30% | (m) | (m) |
| 2018-06-30 | $393.23M | (m) | $83.92M | $179.16M | (m) | (m) | (m) | (m) | (m) |
| 2018-03-31 | $370.35M | $1.78B | $79.84M | $535.59M | (m) | 20.77% | 4.48% | (m) | (m) |
| 2017-12-31 | $349.59M | $1.65B | $75.43M | $470.27M | (m) | 21.24% | 4.58% | (m) | (m) |
| 2017-09-30 | $313.81M | $1.51B | $71.31M | $408.38M | (m) | 20.83% | 4.73% | (m) | (m) |
| 2017-06-30 | $304.85M | $1.36B | $66.28M | $330.57M | (m) | 22.43% | 4.88% | (m) | (m) |
| 2017-03-31 | $292.68M | $1.22B | $62.11M | $267.09M | (m) | 23.94% | 5.08% | (m) | (m) |
| 2016-12-31 | $273.58M | $1.13B | $59.03M | $243.41M | (m) | 24.23% | 5.23% | (m) | (m) |
| 2016-09-30 | $259.60M | $1.05B | $55.69M | $215.31M | (m) | 24.80% | 5.32% | (m) | (m) |
| 2016-06-30 | $247.70M | $973.93M | $52.85M | $183.59M | (m) | 25.43% | 5.43% | (m) | (m) |
| 2016-03-31 | $228.62M | $900.74M | $49.82M | $163.29M | (m) | 25.38% | 5.53% | (m) | (m) |
| 2015-12-31 | $209.45M | $837.59M | $45.30M | $149.31M | (m) | 25.01% | 5.41% | (m) | (m) |
| 2015-09-30 | $196.38M | $765.63M | $40.38M | $138.91M | (m) | 25.65% | 5.27% | (m) | (m) |
| 2015-06-30 | $173.86M | $703.55M | $36.18M | $141.49M | (m) | 24.71% | 5.14% | (m) | (m) |
| 2015-03-31 | $158.80M | $645.94M | $31.68M | $139.29M | (m) | 24.58% | 4.90% | (m) | (m) |
| 2014-12-31 | $148.91M | $584.11M | $27.62M | $125.51M | (m) | 25.49% | 4.73% | (m) | (m) |
| 2014-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2014-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2014-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2013-12-31 | $98.59M | $361.22M | $10.16M | $66.15M | (m) | 27.29% | 2.81% | (m) | (m) |
| 2013-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2013-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2012-12-31 | $55.16M | $193.41M | $4.70M | $39.90M | (m) | 28.52% | 2.43% | (m) | (m) |
(m) means missing inputs. Historical market-based ratios use the saved close on or immediately before period ending and that period’s reported shares; current quotes are not substituted. Five-year projections repeat historical CAGR, not analyst forecasts.
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