Available forward-P/E history shows an average of 47.47x , with a one-standard-deviation band of 37.21x–57.72x .
At 62x, the multiple would be 30.6% above that historical average and above the upper end of that usual statistical band.
It would still be below the recent observed high of 70.66x in 2026-09, so it is not unprecedented—but it implies the market is assigning a premium growth valuation.
One important distinction: the latest available data shows
Arista Networks (ANET)
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at 55.44x forward P/E as of 2026-11-05, while its 62.11x figure is the last-fiscal-year P/E . Therefore, calling 62x “forward P/E” mixes two different measures. Even at 55.44x forward P/E, ANET remains above its historical average, though still within the recent upper-range valuation band.
The premium is easier to sustain if earnings estimates continue to rise alongside AI/data-centre
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