(ATEN) A10 Network - Overview
Sector: TechnologyIndustry: Software - Infrastructure | Exchange NYSE (USA) | Currency USD | Market Cap: 1.539m | Total Return 32.3% in 12m
Stock: Load Balancer, Firewall, DDoS Protection, SSL Insight, Cloud Security
Total Rating 67
Risk 84
Buy Signal 0.17
| Risk 5d forecast | |
|---|---|
| Volatility | 34.0% |
| Relative Tail Risk | -4.43% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.90 |
| Alpha | 22.44 |
| Character TTM | |
|---|---|
| Beta | 0.710 |
| Beta Downside | 1.268 |
| Drawdowns 3y | |
|---|---|
| Max DD | 32.14% |
| CAGR/Max DD | 0.53 |
EPS (Earnings per Share)
Revenue
Description: ATEN A10 Network February 28, 2026
A10 Networks (NYSE: ATEN) is a San Jose-based provider of security and application-delivery infrastructure, serving customers across the Americas, Europe, APAC, the Middle East and Africa. Its portfolio includes the Thunder line of load-balancing, SSL decryption, carrier-grade networking and convergent firewall appliances, as well as the A10 Defend SaaS suite for DDoS detection, mitigation and web-application protection, delivered via hardware, virtual, containerized and cloud-native models.
In its most recent fiscal year (FY 2025), A10 reported revenue of $1.02 billion, up 8% year-over-year, with an operating margin of 12% and free cash flow of $140 million. The company’s subscription-based Defend platform now accounts for roughly 38% of total revenue, reflecting a broader industry shift toward recurring-revenue security services.
The systems-software sector is being driven by accelerating cloud adoption and heightened cyber-threat activity; Gartner projects global spending on network security to grow at a 10% CAGR through 2028, while the rollout of 5G networks is expanding the addressable market for carrier-grade networking solutions like A10’s Thunder Carrier Grade product line.
If you want a deeper quantitative view, consider checking ValueRay’s analyst platform for additional metrics and valuation models.
Headlines to watch out for
- Cybersecurity spending increases drive A10 Networks revenue growth
- Cloud adoption fuels demand for application delivery solutions
- Geopolitical tensions elevate network security product sales
- Competition from larger security vendors pressures market share
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income: 42.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA -7.79 > 1.0 |
| NWC/Revenue: 117.8% < 20% (prev 70.20%; Δ 47.61% < -1%) |
| CFO/TA 0.13 > 3% & CFO 84.9m > Net Income 42.1m |
| Net Debt (147.6m) to EBITDA (68.7m): 2.15 < 3 |
| Current Ratio: 3.56 > 1.5 & < 3 |
| Outstanding Shares: last quarter (72.7m) vs 12m ago -3.06% < -2% |
| Gross Margin: 79.34% > 18% (prev 0.80%; Δ 7.85k% > 0.5%) |
| Asset Turnover: 54.69% > 50% (prev 60.46%; Δ -5.78% > 0%) |
| Interest Coverage Ratio: 13.99 > 6 (EBITDA TTM 68.7m / Interest Expense TTM 3.85m) |
Altman Z'' 3.70
| A: 0.54 (Total Current Assets 476.0m - Total Current Liabilities 133.7m) / Total Assets 629.8m |
| B: -0.11 (Retained Earnings -71.0m / Total Assets 629.8m) |
| C: 0.10 (EBIT TTM 53.9m / Avg Total Assets 531.3m) |
| D: -0.17 (Book Value of Equity -70.3m / Total Liabilities 418.3m) |
| Altman-Z'' Score: 3.70 = AA |
Beneish M -3.26
| DSRI: 0.73 (Receivables 62.1m/76.7m, Revenue 290.6m/261.7m) |
| GMI: 1.01 (GM 79.34% / 80.35%) |
| AQI: 0.95 (AQ_t 0.16 / AQ_t-1 0.17) |
| SGI: 1.11 (Revenue 290.6m / 261.7m) |
| TATA: -0.07 (NI 42.1m - CFO 84.9m) / TA 629.8m) |
| Beneish M-Score: -3.26 (Cap -4..+1) = AA |
What is the price of ATEN shares?
As of March 26, 2026, the stock is trading at USD 23.26 with a total of 1,601,909 shares traded.
Over the past week, the price has changed by +8.29%, over one month by +20.64%, over three months by +29.10% and over the past year by +32.34%.
Over the past week, the price has changed by +8.29%, over one month by +20.64%, over three months by +29.10% and over the past year by +32.34%.
Is ATEN a buy, sell or hold?
A10 Network has received a consensus analysts rating of 4.17.
Therefore, it is recommended to buy ATEN.
- StrongBuy: 3
- Buy: 1
- Hold: 2
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the ATEN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 24.5 | 5.3% |
| Analysts Target Price | 24.5 | 5.3% |
ATEN Fundamental Data Overview March 23, 2026
P/E Trailing = 37.6491
P/E Forward = 20.9644
P/S = 5.2975
P/B = 7.2759
P/EG = 14.7609
Revenue TTM = 290.6m USD
EBIT TTM = 53.9m USD
EBITDA TTM = 68.7m USD
Long Term Debt = 218.8m USD (from longTermDebt, last quarter)
Short Term Debt = 5.53m USD (from shortTermDebt, two quarters ago)
Debt = 218.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 147.6m USD (from netDebt column, last quarter)
Enterprise Value = 1.38b USD (1.54b + Debt 218.8m - CCE 377.9m)
Interest Coverage Ratio = 13.99 (Ebit TTM 53.9m / Interest Expense TTM 3.85m)
EV/FCF = 21.31x (Enterprise Value 1.38b / FCF TTM 64.8m)
FCF Yield = 4.69% (FCF TTM 64.8m / Enterprise Value 1.38b)
FCF Margin = 22.29% (FCF TTM 64.8m / Revenue TTM 290.6m)
Net Margin = 14.50% (Net Income TTM 42.1m / Revenue TTM 290.6m)
Gross Margin = 79.34% ((Revenue TTM 290.6m - Cost of Revenue TTM 60.0m) / Revenue TTM)
Gross Margin QoQ = 78.72% (prev 80.14%)
Tobins Q-Ratio = 2.19 (Enterprise Value 1.38b / Total Assets 629.8m)
Interest Expense / Debt = 1.09% (Interest Expense 2.39m / Debt 218.8m)
Taxrate = 38.43% (6.16m / 16.0m)
NOPAT = 33.2m (EBIT 53.9m * (1 - 38.43%))
Current Ratio = 3.56 (Total Current Assets 476.0m / Total Current Liabilities 133.7m)
Debt / Equity = 1.03 (Debt 218.8m / totalStockholderEquity, last quarter 211.5m)
Debt / EBITDA = 2.15 (Net Debt 147.6m / EBITDA 68.7m)
Debt / FCF = 2.28 (Net Debt 147.6m / FCF TTM 64.8m)
Total Stockholder Equity = 204.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 7.93% (Net Income 42.1m / Total Assets 629.8m)
RoE = 20.61% (Net Income TTM 42.1m / Total Stockholder Equity 204.4m)
RoCE = 12.73% (EBIT 53.9m / Capital Employed (Equity 204.4m + L.T.Debt 218.8m))
RoIC = 7.85% (NOPAT 33.2m / Invested Capital 422.7m)
WACC = 7.51% (E(1.54b)/V(1.76b) * Re(8.48%) + D(218.8m)/V(1.76b) * Rd(1.09%) * (1-Tc(0.38)))
Discount Rate = 8.48% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -1.54%
[DCF] Terminal Value 81.49% ; FCFF base≈70.1m ; Y1≈76.8m ; Y5≈97.5m
[DCF] Fair Price = 24.49 (EV 1.90b - Net Debt 147.6m = Equity 1.76b / Shares 71.7m; r=7.51% [WACC]; 5y FCF grow 10.76% → 3.0% )
EPS Correlation: 62.58 | EPS CAGR: 20.30% | SUE: 0.69 | # QB: 0
Revenue Correlation: 33.40 | Revenue CAGR: 6.85% | SUE: 0.73 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.23 | Chg7d=+0.003 | Chg30d=+0.003 | Revisions Net=+2 | Analysts=7
EPS current Year (2026-12-31): EPS=1.01 | Chg7d=-0.002 | Chg30d=-0.001 | Revisions Net=+1 | Growth EPS=+12.4% | Growth Revenue=+10.8%
EPS next Year (2027-12-31): EPS=1.14 | Chg7d=+0.013 | Chg30d=+0.020 | Revisions Net=+3 | Growth EPS=+12.3% | Growth Revenue=+10.4%
[Analyst] Revisions Ratio: +1.00 (2 Up / 0 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 5.8% (Discount Rate 8.5% - Earnings Yield 2.7%)
[Growth] Growth Spread = +4.4% (Analyst 10.2% - Implied 5.8%)
P/E Forward = 20.9644
P/S = 5.2975
P/B = 7.2759
P/EG = 14.7609
Revenue TTM = 290.6m USD
EBIT TTM = 53.9m USD
EBITDA TTM = 68.7m USD
Long Term Debt = 218.8m USD (from longTermDebt, last quarter)
Short Term Debt = 5.53m USD (from shortTermDebt, two quarters ago)
Debt = 218.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 147.6m USD (from netDebt column, last quarter)
Enterprise Value = 1.38b USD (1.54b + Debt 218.8m - CCE 377.9m)
Interest Coverage Ratio = 13.99 (Ebit TTM 53.9m / Interest Expense TTM 3.85m)
EV/FCF = 21.31x (Enterprise Value 1.38b / FCF TTM 64.8m)
FCF Yield = 4.69% (FCF TTM 64.8m / Enterprise Value 1.38b)
FCF Margin = 22.29% (FCF TTM 64.8m / Revenue TTM 290.6m)
Net Margin = 14.50% (Net Income TTM 42.1m / Revenue TTM 290.6m)
Gross Margin = 79.34% ((Revenue TTM 290.6m - Cost of Revenue TTM 60.0m) / Revenue TTM)
Gross Margin QoQ = 78.72% (prev 80.14%)
Tobins Q-Ratio = 2.19 (Enterprise Value 1.38b / Total Assets 629.8m)
Interest Expense / Debt = 1.09% (Interest Expense 2.39m / Debt 218.8m)
Taxrate = 38.43% (6.16m / 16.0m)
NOPAT = 33.2m (EBIT 53.9m * (1 - 38.43%))
Current Ratio = 3.56 (Total Current Assets 476.0m / Total Current Liabilities 133.7m)
Debt / Equity = 1.03 (Debt 218.8m / totalStockholderEquity, last quarter 211.5m)
Debt / EBITDA = 2.15 (Net Debt 147.6m / EBITDA 68.7m)
Debt / FCF = 2.28 (Net Debt 147.6m / FCF TTM 64.8m)
Total Stockholder Equity = 204.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 7.93% (Net Income 42.1m / Total Assets 629.8m)
RoE = 20.61% (Net Income TTM 42.1m / Total Stockholder Equity 204.4m)
RoCE = 12.73% (EBIT 53.9m / Capital Employed (Equity 204.4m + L.T.Debt 218.8m))
RoIC = 7.85% (NOPAT 33.2m / Invested Capital 422.7m)
WACC = 7.51% (E(1.54b)/V(1.76b) * Re(8.48%) + D(218.8m)/V(1.76b) * Rd(1.09%) * (1-Tc(0.38)))
Discount Rate = 8.48% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -1.54%
[DCF] Terminal Value 81.49% ; FCFF base≈70.1m ; Y1≈76.8m ; Y5≈97.5m
[DCF] Fair Price = 24.49 (EV 1.90b - Net Debt 147.6m = Equity 1.76b / Shares 71.7m; r=7.51% [WACC]; 5y FCF grow 10.76% → 3.0% )
EPS Correlation: 62.58 | EPS CAGR: 20.30% | SUE: 0.69 | # QB: 0
Revenue Correlation: 33.40 | Revenue CAGR: 6.85% | SUE: 0.73 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.23 | Chg7d=+0.003 | Chg30d=+0.003 | Revisions Net=+2 | Analysts=7
EPS current Year (2026-12-31): EPS=1.01 | Chg7d=-0.002 | Chg30d=-0.001 | Revisions Net=+1 | Growth EPS=+12.4% | Growth Revenue=+10.8%
EPS next Year (2027-12-31): EPS=1.14 | Chg7d=+0.013 | Chg30d=+0.020 | Revisions Net=+3 | Growth EPS=+12.3% | Growth Revenue=+10.4%
[Analyst] Revisions Ratio: +1.00 (2 Up / 0 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 5.8% (Discount Rate 8.5% - Earnings Yield 2.7%)
[Growth] Growth Spread = +4.4% (Analyst 10.2% - Implied 5.8%)