Arista Networks, Inc. (ANET) vs IonQ, Inc. (IONQ)

Arista Networks, Inc. and IonQ, Inc. are both Computer Hardware companies. Arista Networks, Inc. is the larger, with a market value of $263.1B against $18.2B — 14.5× the size. IonQ, Inc. has negative trailing earnings, so its P/E is not meaningful; Arista Networks, Inc. trades at 64.4×. IonQ, Inc. grew revenue faster over the last twelve months: 370.6% against 32.6%. Arista Networks, Inc. has the higher net margin (38.4% vs −553.3%) and the higher return on invested capital (195.4% vs −51.5%). Across the 17 metrics below, Arista Networks, Inc. leads on 14 and IonQ, Inc. on 3.

Valuation

Metric ANET IONQ Computer Hardware median
P/E 64.41 n/m 20.64
P/S 24.72 68.01 2.95
P/B 17.61 5.02 2.78
Price to free cash flow 50.59 n/m 25.64
EV/EBITDA 53.29 n/m 20.51
EV/Sales 23.46 59.41 3.48
Earnings yield 1.55% (9.52%) (4.08%)
Free cash flow yield 1.98% (2.90%) (2.90%)

Profitability

Metric ANET IONQ Computer Hardware median
Gross margin 63.00% 29.32% 37.84%
Operating margin 43.14% (408.24%) (0.80%)
Net margin 38.37% (553.27%) (14.15%)
Free cash flow margin 48.91% (196.32%) 0.00%
Return on equity 31.48% (60.37%) (2.10%)
Return on assets 20.10% (33.57%) (0.42%)
Return on invested capital 195.39% (51.52%) 0.00%

Growth

Metric ANET IONQ Computer Hardware median
Revenue growth (TTM) 32.57% 370.64% 27.21%
EPS growth (last fiscal year) 23.32% (16.67%) —
Revenue growth, 5-year CAGR 31.19% — 0.81%
Net income growth, 5-year CAGR 40.80% 0.00% 0.00%

Health

Metric ANET IONQ Computer Hardware median
Debt to equity 0.00 0.00 0.00
Current ratio 2.96 10.66 2.76
Net debt to EBITDA (2.73) 4.27 0.46

Dividend

Metric ANET IONQ Computer Hardware median
Dividend yield — — 2.47%
Payout ratio 0.00 0.00 0.00

Size

Metric ANET IONQ Computer Hardware median
Market cap 263.14b 18.18b 462.08m

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