Arista Networks, Inc.
$243.35B- Market cap
- $244.40B
- Debt
- +$915.70M
- Cash
- −$1.96B
Capital structure 100% equity / 0% debt · EV / Revenue 27.02x · EV / EBITDA 56.30x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 ·
Decision snapshot: ANET stock price at premium vs ATO $193.78 current versus $61.77 implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at ATO's multiple
Implied fair value · at ANET's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Pricing power
Operating leverage
Multiple premium
Premium justified
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: ANET FY 2025 (ended Dec 31, 2025) · ATO FY 2025 (ended Sep 30, 2025). Fiscal years are not aligned.
Trendline
Ten fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 100% equity / 0% debt · EV / Revenue 27.02x · EV / EBITDA 56.30x
Capital structure 76% equity / 24% debt · EV / Revenue 7.85x · EV / EBITDA 22.60x
ANET carries the larger enterprise value at $243.35B against $36.91B; ATO trades on the lower EV / Revenue multiple (7.85x vs 27.02x); ATO on the lower EV / EBITDA (22.60x vs 56.30x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
Arista Networks, Inc. · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
Atmos Energy Corp · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
0.07x
0.66x
Net debt / EBITDA
Leverage against operating earnings
-0.24x
5.26x
Cash and equivalents
Liquid reserves on the balance sheet
$1.96B
$317.63M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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