ANET · Earnings call · 2026Q3T · Full report

Operating Cash Flow Trends

Arista Networks, Inc. · 2026-11-03 · Importance 33 · Surprise 48

Q3 operating cash flow was approximately $1.2 billion, supported by robust earnings and an intentional inventory build for customer demand. Inventory increased to $3.2 billion from $2.5 billion in Q2, while inventory turns fell from 1.7 to 1.6. The CFO noted that elevated inventory balances could affect the timing of operating cash flow ahead of customer deployments.

Key facts

• Arista generated approximately $1.2 billion of operating cash in Q3, supported by earnings and an intentional inventory build.