Arista Networks Inc (ANET) is overvalued and Seagate Technology Holdings Plc (STX) is overvalued.
Both trade above our estimate of their intrinsic value. ANET is the closer of the two: -79%, against -380% for STX.
Values as of the 22 Sept 2026 close.
A 12.5x revenue multiple, adjusted for growth and margin, values the shares at $114.88; the price of $205.19 is 79% above that value.
Leak Score 72/100 on 8 of 12 signals
Discounting its cash flows at 13.7% (average of 3 methods) values the shares at $191.47; the price of $919.84 is 380% above that value, and 61% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
| Metric | ANET | STX |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $205.19 | $919.84 |
| Intrinsic value | $114.88 | $191.47 |
| Margin of safety | -79% | -380% |
| Leak Score | 72/100 (8/12) | 59/100 (3/12) |
| Market cap | $258.8B | $209.2B |
| Revenue growth, 5 years | 31.2% | 2.7% |
| Operating margin | 43.1% | 34.6% |
| Net margin | 38.4% | 26.1% |
| Return on equity | 31.5% | 371.5% |
| Debt to equity | 0.00 | 1.80 |
| P/E | 64.7x | 66.3x |
| Forward P/E | 39.3x | 16.3x |
| P/B | 17.5x | 96.3x |
| Dividend yield | — | 0.3% |