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Arista Networks vs Extreme Networks: revenue, profit, margins and growth compared

Arista Networks brought in $9B of revenue in fiscal 2025, Extreme Networks $1.3B in fiscal 2026. Revenue changed by +28.6% at Arista Networks and +12.6% at Extreme Networks on the year before, so Arista Networks grew faster. Arista Networks kept 39.0% of its revenue as net profit, Extreme Networks 3.3%. Free cash flow was $4.3B at Arista Networks and $95.2M at Extreme Networks.

Side by side, latest fiscal year

ANETEXTR
Fiscal year endedFY2025 (December 31, 2025)FY2026 (June 30, 2026)
Revenue$9B$1.3B
Revenue growth+28.6%+12.6%
Net income$3.5B$42.1M
Net margin39.0%3.3%
Free cash flow$4.3B$95.2M
Free cash flow margin47.2%7.4%
Earnings per share (diluted)$2.75$0.31
Cash$2B$211.8M
Debtn/a$165M
Price to earnings75.169.4
Market value$260.5B$2.8B
Dividend yieldn/an/a
Rank by revenue in sector#9 of 51 · Telecommunications#22 of 51 · Telecommunications

Over the years

Revenue
ANET FY2018: $2.2BANET FY2019: $2.4BANET FY2020: $2.3BANET FY2021: $2.9BANET FY2022: $4.4BANET FY2023: $5.9BANET FY2024: $7BANET FY2025: $9BEXTR FY2019: $995.8MEXTR FY2020: $948MEXTR FY2021: $1BEXTR FY2022: $1.1BEXTR FY2023: $1.3BEXTR FY2024: $1.1BEXTR FY2025: $1.1BEXTR FY2026: $1.3BFY18FY19FY20FY21FY22FY23FY24FY25FY26
ANET $9BEXTR $1.3B
Net income
ANET FY2018: $328.1MANET FY2019: $859.9MANET FY2020: $634.6MANET FY2021: $840.9MANET FY2022: $1.4BANET FY2023: $2.1BANET FY2024: $2.9BANET FY2025: $3.5BEXTR FY2019: -$25.9MEXTR FY2020: -$126.8MEXTR FY2021: $1.9MEXTR FY2022: $44.3MEXTR FY2023: $78.1MEXTR FY2024: -$86MEXTR FY2025: -$7.5MEXTR FY2026: $42.1MFY18FY19FY20FY21FY22FY23FY24FY25FY26
ANET $3.5BEXTR $42.1M
Net margin
ANET FY2018: 15.3%ANET FY2019: 35.7%ANET FY2020: 27.4%ANET FY2021: 28.5%ANET FY2022: 30.9%ANET FY2023: 35.6%ANET FY2024: 40.7%ANET FY2025: 39.0%EXTR FY2019: -2.6%EXTR FY2020: -13.4%EXTR FY2021: 0.2%EXTR FY2022: 4.0%EXTR FY2023: 5.9%EXTR FY2024: -7.7%EXTR FY2025: -0.7%EXTR FY2026: 3.3%FY18FY19FY20FY21FY22FY23FY24FY25FY26
ANET 39.0%EXTR 3.3%
Revenue growth
ANET FY2019: +12.1%ANET FY2020: -3.9%ANET FY2021: +27.2%ANET FY2022: +48.6%ANET FY2023: +33.8%ANET FY2024: +19.5%ANET FY2025: +28.6%EXTR FY2020: -4.8%EXTR FY2021: +6.5%EXTR FY2022: +10.2%EXTR FY2023: +18.0%EXTR FY2024: -14.9%EXTR FY2025: +2.0%EXTR FY2026: +12.6%FY19FY20FY21FY22FY23FY24FY25FY26
ANET +28.6%EXTR +12.6%
Free cash flow
ANET FY2018: $479.3MANET FY2019: $947.3MANET FY2020: $719.7MANET FY2021: $951.1MANET FY2022: $448.2MANET FY2023: $2BANET FY2024: $3.7BANET FY2025: $4.3BEXTR FY2019: $82.2MEXTR FY2020: $20.6MEXTR FY2021: $127.4MEXTR FY2022: $112.7MEXTR FY2023: $235.4MEXTR FY2024: $37.4MEXTR FY2025: $127.3MEXTR FY2026: $95.2MFY18FY19FY20FY21FY22FY23FY24FY25FY26
ANET $4.3BEXTR $95.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Arista Networks and Extreme Networks

Which is bigger by revenue, Arista Networks or Extreme Networks?

Arista Networks is bigger by revenue: $9B in fiscal 2025, against $1.3B for Extreme Networks in fiscal 2026.

Which keeps more of its revenue as profit, Arista Networks or Extreme Networks?

Arista Networks had a net margin of 39.0% in fiscal 2025; Extreme Networks had 3.3% in fiscal 2026.

Which grew revenue faster, Arista Networks or Extreme Networks?

In their latest fiscal years revenue changed by +28.6% at Arista Networks and +12.6% at Extreme Networks.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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