As of Q4'25, ANET's diluted EPS reached USD 0.75, marking the highest value in the period covered from Q1'23 to Q4'25. The most recent year-over-year EPS growth rate stands at 19.6%, indicating continued but moderating earnings expansion. Over the observed quarters, ANET's diluted EPS has shown a consistent upward trend, rising from USD 0.345 in Q1'23 to USD 0.75 in Q4'25. While EPS growth rates started at elevated levels above 62% in early 2023, they have gradually decelerated, dropping below 20% by late 2025. This pattern suggests robust earnings growth, though the pace of improvement is slowing as the company matures.