BlitzLab Scoring · Oct 2026 · Model v1.0 (frozen)
Arista Networks — Blitz Index 72 (B)
The nervous system of the AI factory — 40% growth with 43% operating margins.
72Grade B
Confidence: High · S&P 500 · Category: ai-infra
Score breakdown
| Section | Score | Detail |
|---|---|---|
| A · Speed | 19 / 25 | 12 straight YoY growth quarters; FY2026 guide ~$12.6B (+40%, raised 3x); first $3B quarter |
| B · Moat | 42 / 60 | EOS single OS + 150M ports shipped; NPS 89; MSFT 26% + Meta 16% = 42% concentration |
| C · Creative destruction | 11 / 15 | Ethernet displacing InfiniBand in AI backend fabric; $6.9B deferred revenue |
| D · BlitzFailing | −0 | No triggers — zero debt, $13.3B cash, single-class shares |
Radar axes (0–100): Moat 70 · Speed 76 · Creative 73.
Watch item
Gates: G1 pass · G2 pass (conditional, estimated). 7 above threshold — first-ever score. Mid-blitz, not between blitzes.
Strengths
- 12 straight YoY growth quarters (Q3 2023–Q2 2026), re-accelerating 27.5%→37.7%
- AI center networking $1.5B → $3.5–3.6B target for 2026 — the second blitz taking shape
- GAAP gross margin 61.9–65.2% band for 12 quarters; op margin 42.8% at 40% growth
- Zero debt, $13.3B cash — the rare blitzer that never sacrificed efficiency
Concerns
- MSFT 26% + Meta 16% = 42% of revenue — two customers, one of them also the rival
- NVIDIA Spectrum-X at 11.6% DC Ethernet penetration (+167.7% YoY) — biggest partner becoming biggest threat
- Large-customer mix dilutes margins (Q1 2026 GM fell to 61.9%, tariffs compounded)
- $9.7B purchase commitments (92% of TTM revenue) — supply-chain shock exposure
Next earnings
Nov 3, 2026 · After close · Confirmed
Coverage
As of October 2026 · Model v1.0 (frozen) · Confidence: High (listed, SEC filings) · Not investment advice — a scholar's assessment.
BlitzLab scores businesses against a scholar’s standard — not investment advice. No price targets, no buy/sell recommendations. Figures are from SEC filings (XBRL) as labeled in the source scorecard.