(ATEN) A10 Network - Overview

Sector: Technology | Industry: Software - Infrastructure | Exchange: NYSE (USA) | Market Cap: 2.012m USD | Total Return: 61.6% in 12m

Load Balancers, Firewalls, DDoS Protection, Network Security
Total Rating 74
Safety 85
Buy Signal 0.99
Software - Infrastructure
Industry Rotation: +18.6
Market Cap: 2.01B
Avg Turnover: 26.0M
Risk 3d forecast
Volatility32.1%
VaR 5th Pctl5.41%
VaR vs Median2.47%
Reward TTM
Sharpe Ratio1.56
Rel. Str. IBD88.8
Rel. Str. Peer Group87.8
Character TTM
Beta0.743
Beta Downside0.733
Hurst Exponent0.457
Drawdowns 3y
Max DD32.14%
CAGR/Max DD0.86
CAGR/Mean DD2.21
EPS (Earnings per Share) EPS (Earnings per Share) of ATEN over the last years for every Quarter: "2021-03": 0.12, "2021-06": 0.13, "2021-09": 0.17, "2021-12": 0.2, "2022-03": 0.13, "2022-06": 0.17, "2022-09": 0.17, "2022-12": 0.24, "2023-03": 0.13, "2023-06": 0.19, "2023-09": 0.16, "2023-12": 0.25, "2024-03": 0.17, "2024-06": 0.18, "2024-09": 0.21, "2024-12": 0.31, "2025-03": 0.2, "2025-06": 0.21, "2025-09": 0.23, "2025-12": 0.26, "2026-03": 0.24,
EPS CAGR: 9.63%
EPS Trend: 56.4%
Last SUE: 1.04
Qual. Beats: 1
Revenue Revenue of ATEN over the last years for every Quarter: 2021-03: 54.843, 2021-06: 59.168, 2021-09: 65.36, 2021-12: 70.671, 2022-03: 62.672, 2022-06: 67.973, 2022-09: 72.059, 2022-12: 77.634, 2023-03: 57.691, 2023-06: 65.817, 2023-09: 57.775, 2023-12: 70.417, 2024-03: 60.675, 2024-06: 60.096, 2024-09: 66.721, 2024-12: 74.204, 2025-03: 66.137, 2025-06: 69.383, 2025-09: 74.682, 2025-12: 80.355, 2026-03: 75,
Rev. CAGR: 2.66%
Rev. Trend: 35.4%
Last SUE: 1.02
Qual. Beats: 1

Warnings

No concerns identified

Tailwinds

Supp Ema20, Leader, Tailwind, Pullback 52w, Confidence

Description: ATEN A10 Network

A10 Networks (ATEN) specializes in secure application delivery and network infrastructure solutions. Its portfolio includes DDoS protection, web application firewalls (WAF), and application delivery controllers (ADC) designed to optimize traffic and enhance security across cloud and on-premises environments. The company serves a diverse global client base, including telecommunications providers, financial institutions, and government agencies.

Operating within the Systems Software sub-industry, A10 Networks utilizes a business model focused on hardware appliances, virtualized software instances, and subscription-based security services. This sector is characterized by high barriers to entry due to the technical complexity of DDoS mitigation and the critical nature of IPv6 migration services. Further analysis of these revenue streams on ValueRay can help clarify the companys long-term growth trajectory.

Headquartered in San Jose, California, the company distributes its products through a network of value-added resellers and system integrators. By integrating centralized management and analytics platforms like A10 Control, the firm enables automated threat detection and real-time visibility into encrypted traffic for large-scale enterprise infrastructures.

Headlines to Watch Out For
  • Global 5G infrastructure expansion drives service provider demand for CGN solutions
  • Cybersecurity product mix shift enhances recurring revenue and gross margins
  • Enterprise cloud migration accelerates adoption of ADC and WAF security platforms
  • Geopolitical tensions in Asian markets impact hardware shipment and lead times
  • Federal government spending cycles dictate public sector contract revenue growth
Piotroski VR‑10 (Strict) 7.0
Net Income: 44.6m TTM > 0 and > 6% of Revenue
FCF/TA: 0.08 > 0.02 and ΔFCF/TA -2.03 > 1.0
NWC/Revenue: 117.0% < 20% (prev 129.1%; Δ -12.09% < -1%)
CFO/TA 0.11 > 3% & CFO 69.9m > Net Income 44.6m
Net Debt (-150.6m) to EBITDA (72.2m): -2.08 < 3
Current Ratio: 3.71 > 1.5 & < 3
Outstanding Shares: last quarter (72.9m) vs 12m ago -2.84% < -2%
Gross Margin: 79.50% > 18% (prev 0.80%; Δ 7.87k% > 0.5%)
Asset Turnover: 48.27% > 50% (prev 44.07%; Δ 4.20% > 0%)
Interest Coverage Ratio: 9.60 > 6 (EBITDA TTM 72.2m / Interest Expense TTM 5.92m)
Altman Z'' 3.75
A: 0.55 (Total Current Assets 479.5m - Total Current Liabilities 129.1m) / Total Assets 634.4m
B: -0.10 (Retained Earnings -63.3m / Total Assets 634.4m)
C: 0.09 (EBIT TTM 56.8m / Avg Total Assets 620.3m)
D: -0.15 (Book Value of Equity -63.4m / Total Liabilities 413.6m)
Altman-Z'' Score: 3.75 = AA
Beneish M -3.06
DSRI: 0.94 (Receivables 69.0m/65.4m, Revenue 299.4m/267.2m)
GMI: 1.01 (GM 79.50% / 80.01%)
AQI: 0.93 (AQ_t 0.16 / AQ_t-1 0.17)
SGI: 1.12 (Revenue 299.4m / 267.2m)
TATA: -0.04 (NI 44.6m - CFO 69.9m) / TA 634.4m)
Beneish M-Score: -3.06 (Cap -4..+1) = AA
What is the price of ATEN shares? As of May 18, 2026, the stock is trading at USD 27.95 with a total of 1,120,362 shares traded.
Over the past week, the price has changed by +0.76%, over one month by +1.67%, over three months by +39.63% and over the past year by +61.64%.
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?
Analysts Target Price 29.9 6.8%
A10 Network (ATEN) - Fundamental Data Overview as of 17 May 2026
P/E Trailing = 45.8197
P/E Forward = 39.0625
P/S = 6.7208
P/B = 9.0635
P/EG = 14.7609
Revenue TTM = 299.4m USD
EBIT TTM = 56.8m USD
EBITDA TTM = 72.2m USD
Long Term Debt = 218.8m USD (from longTermDebt, last fiscal year)
 Short Term Debt = unknown (none)
 Debt = 219.2m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -150.6m USD (recalculated: Debt 219.2m - CCE 369.8m)
Enterprise Value = 1.86b USD (2.01b + Debt 219.2m - CCE 369.8m)
Interest Coverage Ratio = 9.60 (Ebit TTM 56.8m / Interest Expense TTM 5.92m)
EV/FCF = 36.24x (Enterprise Value 1.86b / FCF TTM 51.4m)
FCF Yield = 2.76% (FCF TTM 51.4m / Enterprise Value 1.86b)
FCF Margin = 17.16% (FCF TTM 51.4m / Revenue TTM 299.4m)
Net Margin = 14.90% (Net Income TTM 44.6m / Revenue TTM 299.4m)
Gross Margin = 79.50% ((Revenue TTM 299.4m - Cost of Revenue TTM 61.4m) / Revenue TTM)
Gross Margin QoQ = 80.29% (prev 78.72%)
Tobins Q-Ratio = 2.93 (Enterprise Value 1.86b / Total Assets 634.4m)
Interest Expense / Debt = 0.98% (Interest Expense 2.16m / Debt 219.2m)
Taxrate = 15.41% (2.19m / 14.2m)
NOPAT = 48.1m (EBIT 56.8m * (1 - 15.41%))
Current Ratio = 3.71 (Total Current Assets 479.5m / Total Current Liabilities 129.1m)
Debt / Equity = 0.99 (Debt 219.2m / totalStockholderEquity, last quarter 220.8m)
Debt / EBITDA = -2.08 (Net Debt -150.6m / EBITDA 72.2m)
Debt / FCF = -2.93 (Net Debt -150.6m / FCF TTM 51.4m)
Total Stockholder Equity = 210.6m (last 4 quarters mean from totalStockholderEquity)
RoA = 7.19% (Net Income 44.6m / Total Assets 634.4m)
RoE = 21.19% (Net Income TTM 44.6m / Total Stockholder Equity 210.6m)
RoCE = 13.23% (EBIT 56.8m / Capital Employed (Equity 210.6m + L.T.Debt 218.8m))
RoIC = 11.29% (NOPAT 48.1m / Invested Capital 425.7m)
WACC = 7.84% (E(2.01b)/V(2.23b) * Re(8.60%) + D(219.2m)/V(2.23b) * Rd(0.98%) * (1-Tc(0.15)))
Discount Rate = 8.60% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -80.28 | Cagr: -1.77%
[DCF] Terminal Value 80.30% ; FCFF base≈55.4m ; Y1≈60.6m ; Y5≈77.0m
[DCF] Fair Price = 21.54 (EV 1.40b - Net Debt -150.6m = Equity 1.55b / Shares 72.0m; r=7.84% [WACC]; 5y FCF grow 10.76% → 3.0% )
EPS Correlation: 56.45 | EPS CAGR: 9.63% | SUE: 1.04 | # QB: 1
Revenue Correlation: 35.39 | Revenue CAGR: 2.66% | SUE: 1.02 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.24 | Chg30d=+1.97% | Revisions=+11% | Analysts=6
EPS next Quarter (2026-09-30): EPS=0.27 | Chg30d=+2.93% | Revisions=+50% | Analysts=6
EPS current Year (2026-12-31): EPS=1.03 | Chg30d=+2.11% | Revisions=+33% | GrowthEPS=+14.8% | GrowthRev=+11.8%
EPS next Year (2027-12-31): EPS=1.19 | Chg30d=+3.42% | Revisions=+60% | GrowthEPS=+15.0% | GrowthRev=+11.9%
[Analyst] Revisions Ratio: +60%