As of Q4'25, ANET's Price-to-Sales (P/S) ratio reached 66.25, marking a significant spike compared to previous quarters. This latest data point represents the highest value in the observed period from Q1'23 to Q4'25. Over the period from Q1'23 to Q4'25, the P/S ratio for ANET generally trended upward, with moderate growth from 8.57 in Q1'23 to around 21.94 in Q2'25, followed by a dramatic surge to 66.25 in Q4'25. The chart shows a relatively steady increase with occasional fluctuations, but the sharp jump in the last quarter suggests a substantial change in market valuation or revenue expectations.