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Cisco Systems vs Arista Networks: CSCO and ANET compared
Cisco Systems is the larger company: $17.3B of revenue in its latest quarter (Q4 FY26) against $3.7B for Arista Networks (Q3 2026). Arista Networks is growing faster (+58% against +18% a year earlier). Arista Networks is more profitable, with an operating margin of 44.9% against 24.7%.
Where the money goes: CSCO and ANET
Cisco Systems (CSCO) · Q4 FY26
Cisco Systems, Q4 FY26: revenue $17.3B (+18% year over year), operating margin 24.7%, net earnings $3.9B, operating cash flow $5.4B. The chart follows the revenue to costs, profit and cash.
Arista Networks (ANET) · Q3 2026
Arista Networks, Q3 2026: revenue $3.7B (+58% year over year), operating margin 44.9%, net earnings $1.6B, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Cisco Systems (CSCO) | Arista Networks (ANET) | |
|---|---|---|
| Latest quarter | Q4 FY26 | Q3 2026 |
| Revenue | $17.3B | $3.7B |
| Revenue growth, Y/Y | +18% | +58% |
| Gross margin | 64.1% | 63.6% |
| Operating margin | 24.7% | 44.9% |
| Net earnings | $3.9B | $1.6B |
| Net margin | 22.4% | 42.7% |
| Operating cash flow | $5.4B | $1.2B |
| Free cash flow | $5.0B | $1.1B |
| Market value | $381.2B | $217.4B |
| P/E | 28.7× | 45.8× |
| Analysts’ mean target | $135.56 | $250.00 |
Where the revenue comes from
Cisco Systems
- Product: $13.5B (78%)
- Services: $3.8B (22%)
Arista Networks
- Product: $3.2B (87%)
- Service: $468M (13%)
Questions
Which is bigger, Cisco Systems or Arista Networks?
Cisco Systems is the larger company: $17.3B of revenue in its latest quarter (Q4 FY26) against $3.7B for Arista Networks (Q3 2026).
Is Cisco Systems or Arista Networks growing faster?
Arista Networks is growing faster (+58% against +18% a year earlier).
Which is more profitable, Cisco Systems or Arista Networks?
Arista Networks is more profitable, with an operating margin of 44.9% against 24.7%.
More: Cisco Systems earnings · how Cisco Systems makes money · Arista Networks earnings · how Arista Networks makes money
From the companies' latest 10-Q, 10-K or earnings release (10-K filed Sep 2, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.