As of Q4'25, ANET's latest data shows ROE at 7.73%, ROA at 4.91%, and ROIC at 6.17%. This marks a modest recovery from the previous quarter, particularly for ROE and ROIC, which had dipped to 7.16% and 5.79% respectively in Q3'25. From Q1'23 to Q4'25, the chart reveals that all three profitability metrics—ROE, ROA, and ROIC—remained relatively stable through 2023 and the first half of 2024, with minor fluctuations. However, there is a clear downward trend beginning in mid-2024, culminating in notable declines during Q3'25, before a slight rebound in Q4'25. This pattern suggests a period of operational headwinds or margin compression in late 2024 and 2025, though the modest uptick in the latest quarter may indicate early signs of stabilization.