Arista NetworksXSWX:ANET 98 PB Ratio is 16.51 as of Jul. 03, 2026, which is 80% above its 10-year median of 9.19. GuruFocus rates XSWX:ANET with a GF Score™ of 98/100 and a GF Value™ of CHF120.11. The stock has 4 warning signs investors should review. Among 2,416 Hardware companies, Arista Networks ranks worse than 93.25% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-03), Arista Networks's share price is CHF137.62. Arista Networks's Book Value per Share for the quarter that ended in Mar. 2026 was CHF8.34. Hence, Arista Networks's PB Ratio of today is 16.51.
The historical rank and industry rank for Arista Networks's PB Ratio or its related term are showing as below:
XSWX:ANET'
s PB Ratio Range Over the Past 10 Years
Min: 4.34 Med: 9.19 Max: 17.25
Current: 14.94
During the past 13 years, Arista Networks's highest PB Ratio was 17.25. The lowest was 4.34. And the median was 9.19.
XSWX:ANET's PB Ratio is ranked worse than 93.25% of 2416
companies
in the Hardware industry
Industry Median: 2.405
vs XSWX:ANET: 14.94
During the past 12 months, Arista Networks's average Book Value Per Share Growth Rate was 33.00% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 35.20% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 31.10% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 28.50% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Arista Networks was 281.70% per year. The lowest was 18.90% per year. And the median was 34.80% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Arista Networks PB Ratio Related Terms
Arista Networks PB Ratio Historical Data
* Premium members only.
The historical data trend for Arista Networks's PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Computer Hardware subindustry, Arista Networks's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Arista Networks PB Ratio vs Hardware Industry
For the Hardware industry and Technology sector, Arista Networks's PB Ratio distribution charts can be found below:
* The bar in red indicates where Arista Networks's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Arista Networks's PB Ratio for today is calculated as follows:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Arista Networks (XSWX:ANET) has a PB Ratio of 16.51 as of Jul. 03, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Arista Networks and its competitors. This is 80% above median its historical median of 9.19. Over the past decade, Arista Networks' PB Ratio has ranged from 4.34 to 17.25. According to the industry distribution chart, Arista Networks ranks #2253 out of 2416 companies in the Hardware industry, placing it in the top 93.3%.
Is Arista Networks' PB Ratio too high?
Arista Networks' current PB Ratio of 16.51 is 80% above median its 10-year median of 9.19. Over the past 10 years, this metric has ranged from a low of 4.34 to a high of 17.25. The Hardware industry median PB Ratio is 2.41. Arista Networks' value of 16.51 is 586.5% above this industry median. Based on the distribution chart, Arista Networks ranks #2253 out of 2416 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Arista Networks has a GF Score™ of 98/100, reflecting its overall financial health beyond just this single metric.
How does Arista Networks' PB Ratio compare to ?
According to the Hardware industry distribution chart, Arista Networks ranks #2253 out of 2416 companies for PB Ratio. This places Arista Networks in the lower half of its industry. The industry median PB Ratio is 2.41. Arista Networks' value of 16.51 is 586.5% above this benchmark. Historically, Arista Networks' own PB Ratio has ranged from 4.34 to 17.25 over the past decade. While the company's 10-year median is 9.19 vs. the industry median of 2.41, Arista Networks has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Hardware company?
The median PB Ratio among Hardware companies is 2.41, based on 2,416 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Arista Networks's current PB Ratio of 16.51 is 586.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Arista Networks and its competitors. For the Hardware industry, the median PB Ratio is 2.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Arista Networks's current PB Ratio is 16.51, which is 80% above median its own 10-year median of 9.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Arista Networks stock overvalued right now?
Arista Networks (XSWX:ANET) has a current PB Ratio of 16.51. The stock's GF Value™ is CHF120.11, compared to a current price of CHF137.62 — trading 14.6% above its estimated fair value. The current PB Ratio is 16.51, which is 80% above median its 10-year median of 9.19 and 586.5% above the Hardware industry median of 2.41. Arista Networks' overall GF Score™ is 98/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Arista Networks (XSWX:ANET), the current PB Ratio is 16.51 as of Jul. 03, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Arista Networks (XSWX:ANET) Overvalued in 2026?
Based on GuruFocus' analysis, Arista Networks stock appears to be overvalued.
The current stock price of CHF137.62 is trading 14.6% above its estimated GF Value™ of CHF120.11.
Key valuation signals for XSWX:ANET:
PB Ratio: 16.51 (80% above median its 10-year median of 9.19)
GF Value™: CHF120.11 vs. price of CHF137.62 (14.6% above fair value)
Industry Position: 586.5% above the Hardware median (#2253 of 2416)
No single metric tells the full story. See the XSWX:ANET stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Arista Networks is a networking equipment provider that primarily sells Ethernet switches and software to data centers. Its marquee product is its extensible operating system that runs a single image across every single one of its devices. The firm operates as one reportable segment. It has steadily gained market share since its founding in 2004, with a focus on high-speed applications. Arista counts Microsoft and Meta Platforms as its largest customers and derives roughly three-fourths of its sales from North America.
98GF Score
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