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Arista Networks vs F5: revenue, profit, margins and growth compared

Arista Networks brought in $9B of revenue in fiscal 2025, F5 $3.1B in fiscal 2025. Revenue changed by +28.6% at Arista Networks and +9.7% at F5 on the year before, so Arista Networks grew faster. Arista Networks kept 39.0% of its revenue as net profit, F5 22.4%. Free cash flow was $4.3B at Arista Networks and $906.4M at F5.

Side by side, latest fiscal year

ANETFFIV
Fiscal year endedFY2025 (December 31, 2025)FY2025 (September 30, 2025)
Revenue$9B$3.1B
Revenue growth+28.6%+9.7%
Net income$3.5B$692.4M
Net margin39.0%22.4%
Free cash flow$4.3B$906.4M
Free cash flow margin47.2%29.4%
Earnings per share (diluted)$2.75$11.80
Cash$2B$1.3B
Debtn/an/a
Price to earnings75.137.5
Market value$260.5B$25.1B
Dividend yieldn/an/a
Rank by revenue in sector#9 of 51 · Telecommunications#15 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: $9BFFIV FY2018: $2.2BFFIV FY2019: $2.2BFFIV FY2020: $2.4BFFIV FY2021: $2.6BFFIV FY2022: $2.7BFFIV FY2023: $2.8BFFIV FY2024: $2.8BFFIV FY2025: $3.1BFY18FY19FY20FY21FY22FY23FY24FY25
ANET $9BFFIV $3.1B
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: $3.5BFFIV FY2018: $453.7MFFIV FY2019: $427.7MFFIV FY2020: $307.4MFFIV FY2021: $331.2MFFIV FY2022: $322.2MFFIV FY2023: $394.9MFFIV FY2024: $566.8MFFIV FY2025: $692.4MFY18FY19FY20FY21FY22FY23FY24FY25
ANET $3.5BFFIV $692.4M
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%FFIV FY2018: 21.0%FFIV FY2019: 19.1%FFIV FY2020: 13.1%FFIV FY2021: 12.7%FFIV FY2022: 12.0%FFIV FY2023: 14.0%FFIV FY2024: 20.1%FFIV FY2025: 22.4%FY18FY19FY20FY21FY22FY23FY24FY25
ANET 39.0%FFIV 22.4%
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%FFIV FY2019: +3.7%FFIV FY2020: +4.8%FFIV FY2021: +10.7%FFIV FY2022: +3.6%FFIV FY2023: +4.4%FFIV FY2024: +0.1%FFIV FY2025: +9.7%FY19FY20FY21FY22FY23FY24FY25
ANET +28.6%FFIV +9.7%
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: $4.3BFFIV FY2018: $707.6MFFIV FY2019: $644.3MFFIV FY2020: $601MFFIV FY2021: $614.5MFFIV FY2022: $409MFFIV FY2023: $599.2MFFIV FY2024: $762MFFIV FY2025: $906.4MFY18FY19FY20FY21FY22FY23FY24FY25
ANET $4.3BFFIV $906.4M

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

Questions about Arista Networks and F5

Which is bigger by revenue, Arista Networks or F5?

Arista Networks is bigger by revenue: $9B in fiscal 2025, against $3.1B for F5 in fiscal 2025.

Which keeps more of its revenue as profit, Arista Networks or F5?

Arista Networks had a net margin of 39.0% in fiscal 2025; F5 had 22.4% in fiscal 2025.

Which grew revenue faster, Arista Networks or F5?

In their latest fiscal years revenue changed by +28.6% at Arista Networks and +9.7% at F5.

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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