As of Q4'25, Arista Networks (ANET) reported cash and short-term investments at $10.74B USD, marking a robust increase from the prior quarter and reflecting strong liquidity reserves. In contrast, debt stood at $0 USD, underscoring the company's debt-free status with no outstanding obligations. Over the period from Q1'23 to Q4'25, cash and short-term investments exhibited consistent growth, rising from $3.33B USD to $10.74B USD with an overall upward trend and no significant declines, highlighting effective cash generation and accumulation. Debt levels, initially at $55M USD in Q1'23, steadily decreased to $0 USD by Q4'23 and remained eliminated thereafter, indicating prudent financial management and a focus on equity financing. This trajectory positions ANET with a healthy net cash position that has expanded substantially, supporting potential investments and operational flexibility.