ANET vs SNDK: Arista Networks and Sandisk compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Arista Networks is the larger company, worth $277.8B, about 1.3 times Sandisk.
- Sandisk grew revenue faster over the last year (+371.6% vs +37.7%).
- Sandisk keeps more of each dollar of revenue as operating profit (61.2% vs 43.1%).
- On earnings, Sandisk is the cheaper stock (49.7x vs 75.8x).
- Arista Networks's price assumes faster free cash flow growth: about 21% a year, against 4% for Sandisk (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ANET | SNDK |
|---|---|---|
| Market cap | $277.8B | $215.8B |
| Share price | $216.74 | $1,581.82 |
| Revenue (last fiscal year) | $9.0B | $20.2B |
| Free cash flow (last fiscal year) | $4.3B | $11.5B |
| Revenue growth, last year | +37.7% | +371.6% |
| Revenue growth per year, last 5 fiscal years | +32.2% | +49.3% |
| Operating margin | 43.1% | 61.2% |
| Net margin | 38.4% | 56.5% |
| Return on equity | 27.3% | 72.7% |
| P/E (trailing) | 75.8x | 49.7x |
| Price / free cash flow | 65.3x | — |
| EV / EBITDA | 51.9x | 18.6x |
| FCF growth the price implies | 20.6% | 4.2% |
| Dividend yield | — | — |
| Debt / equity | 0.60x | 0.43x |
| Fundamental grade | B | B |
| Superinvestors holding it | 8 | 7 |
| Insider purchases, last 12 months | 2 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Arista Networks
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.9B | $951M | 31.4% |
| 2022 | $4.4B | $448M | 34.9% |
| 2023 | $5.9B | $2.0B | 38.5% |
| 2024 | $7.0B | $3.7B | 42.0% |
| 2025 | $9.0B | $4.3B | 42.8% |
Sandisk
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2023 | $6.1B | -$932M | -33.4% |
| 2024 | $6.7B | -$475M | -7.0% |
| 2025 | $7.4B | -$120M | -18.7% |
| 2026 | $20.2B | $11.5B | 61.2% |
Where the revenue comes from
Arista Networks · by products, 2025
Product$7.6B84%
Service$1.4B16%
Sandisk · by products, 2026
Edge$12.2B60%
Datacenter$5.2B25%
Consumer$2.9B14%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ANET in InvestinglyQuestions
Which is bigger, Arista Networks or Sandisk?
Arista Networks (ANET), at $277.8B against $215.8B.
Is ANET or SNDK cheaper?
By trailing P/E, Sandisk (49.7x) is cheaper than Arista Networks (75.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, ANET or SNDK?
Sandisk: revenue grew +371.6% over the last year, against +37.7%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.