ATEN

A10 Networks, Inc.

Fundamental data last updated:June 4, 2026

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company profile

SECTOR

Technology

industry

Software - Infrastructure

Exchange

NYSE

County of HQ

US

Next Earnings Date

08/04/2026

Business Summary

A10 Networks, Inc. provides networking solutions in the Americas, Japan, other Asia Pacific, and EMEA countries. The company offers Thunder Application Delivery Controller (ADC) that provides advanced server load balancing; Lightning ADC, a cloud-native software-as-a-service platform to boost the delivery and security of applications and microservices; and Thunder Carrier Grade Networking product, which offers standards-compliant address and protocol translation services for service provider networks. It also provides Thunder Threat Protection System (TPS) for the protection of networks and server resources against massive distributed denial of service attacks; Thunder Secure Sockets Layer (SSL) Insight solution that decrypts SSL-encrypted traffic and forwards it to a third-party security device for deep packet inspection; and Thunder Convergent Firewall, which addresses various critical security capabilities in one package by consolidating various security and networking functions in a single appliance. In addition, the company offers intelligent management and automation tools comprising harmony controller that provides intelligent management, automation, and analytics for secure application delivery in multi-cloud environment; and aGalaxy TPS, a multi-device network management solution. A10 Networks, Inc. delivers its solutions on optimized hardware appliances, bare metal software, containerized software, virtual appliances, and cloud-native software. It serves cloud providers; service providers include cloud, telecommunications, and multiple system and cable operators; government organizations; and enterprises in the technology, industrial, retail, financial, gaming, and education industries. The company markets its products through sales organizations, as well as distribution channel partners, including distributors, value added resellers, and system integrators. A10 Networks, Inc. was incorporated in 2004 and is headquartered in San Jose, California.

 


VALUATION

P/E

46.96

Market Cap ($M USD)

$2.11B

Forward P/E

N/A

PEG

N/A

PRICE TO SALES

7.03

PRICE TO BOOK

9.49

EV / EBITDA

31.37

5-Year Average P/E

Free Cash Flow Yield

2.44%

DCF Value

$14.25

Graham Number

$6.57

Price to FCF

40.98

EV to FCF

44.12

Earnings Yield

2.13%

FCF Yield

2.44%

DIVIDEND

Yield

0.82%

Annual Payout

$0.24

Payout Ratio

38.63%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$0.62

Next Year EPS Growth Estimate

$0.00

Next Year Revenue Growth Estimate

$39.44B

Return on Equity (ROE)

21.19%

FREE CASH FLOW

Operating Margin

17.32%

Debt-to-Equity

1.05

Piotroski F-Score

6

Altman Z-Score

4.34

Return on Invested Capital (ROIC)

10.26%

Current Ratio

3.71

Quick Ratio

3.56

Net Debt to EBITDA

2.23

Interest Coverage

37.69

Gross Profit margin

79.50%

FCF PER SHARE

$0.72

REVENUE PER SHARE

$4.18

Gainseekers Quantitative Analysis

Summary

ATEN’s valuation appears stretched, with its snapshot price trading significantly above its DCF value and Graham Number. The Price/Earnings ratio of 44.65 suggests high growth expectations, yet the absence of a Forward P/E and a meager Earnings Yield of 2.24% raise red flags about future profitability. However, the Altman Z-score of 4.19 indicates financial stability, suggesting the company is not at immediate risk of distress. The market seems to be pricing in perfection, leaving little room for error.

AI Exposure / Tech Reliance

Operating within the Software - Infrastructure industry, ATEN is well-positioned to leverage AI advancements. Its technology focus allows it to adapt swiftly to modern tech shifts, ensuring it remains relevant in a rapidly evolving landscape. This adaptability is crucial for maintaining competitive advantage.

The Bull Case

For the value or GARP investor, ATEN offers compelling reasons to buy. A robust ROIC of 10.26% highlights efficient capital use, while a Piotroski F-Score of 6 suggests decent financial health. The company's operating margin of 17.32% and a solid gross profit margin of 79.5% underscore its pricing power and operational efficiency. These factors, combined with a healthy free cash flow per share, paint a picture of a company capable of generating sustainable returns.

The Bear Case

Despite its strengths, ATEN faces significant structural risks. The Price/Book ratio of 9.02 and Price/Sales of 6.68 indicate a potentially overvalued stock, especially when the stock is trading near its 52-week high. The EV to FCF ratio of 42.10 and a Price to FCF of 38.97 suggest poor cash flow efficiency, raising concerns about its ability to generate cash relative to its valuation. These metrics highlight the risk of overextension and potential downside if growth expectations are not met.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Buy

Average Analyst Price Target

$20.33

Institutional Ownership %

1-Year Beta

1.17

Insider Buying % (6 Mo)

Distance to 52-Week High

2.77%

Distance to 52-Week Low

43.50%

EARNINGS SURPRISE %

9.09%

50-DAY SMA

$26.05

200-DAY SMA

$20.11

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.