Arista Networks, Inc. vs Seagate Technology Holdings plc, two Computer Hardware stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Both prices bet on the AI datacenter, but through different doors. Arista at 54.2 times earnings is priced for networking share as clusters multiply; Seagate at 85.1 times is priced for storage demand to keep the drive cycle at full margin, 32.1% operating today. Arista's economics need no cycle: a 42.7% operating margin, 38.3% net, zero debt. Seagate's 217% return on equity is an accounting artifact of 3.5 turns of leverage on a thin equity base, worth noting and then setting aside; the 26.7% return on assets is the honest figure. The premium multiple on the cyclical is the market's way of saying this cycle is different. Arista's price says the same thing more quietly.
Comparison updated 2026-07-10.
| Metric | ANET | STX |
|---|---|---|
| Price | $157.71 | $896.74 |
| Market cap | $200.9B | $205.4B |
| Sector | Computer Hardware | Computer Hardware |
| Stage | Growth | Growth |
| P/E | 54.2 | 85.1 |
| P/B | 14.90 | 187.54 |
| P/S | 20.69 | 18.65 |
| EV/EBITDA | 46.8 | 65.5 |
| Revenue growth | +30.5% | +29.1% |
| Gross margin | 61.9% | — |
| Operating margin | 42.7% | 32.1% |
| Net margin | 38.3% | 21.6% |
| Return on equity | 27.6% | 217.2% |
| Return on assets | 17.2% | 26.7% |
| Return on invested capital | 24.8% | 54.2% |
| FCF yield | 2.6% | 1.2% |
| Dividend yield | — | 0.3% |
| Debt / equity | 0.00 | 3.53 |
| Current ratio | 2.83 | 1.33 |
| Altman Z (solvency) | 7.97 | 6.66 |
| Piotroski F (quality) | 5 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.