A10 NETWORKS INC (ATEN) Fundamental Analysis & Valuation

NYSE:ATEN • US0021211018

Current stock price

22.8 USD
+0.44 (+1.97%)
Last:

This ATEN fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. ATEN Profitability Analysis

1.1 Basic Checks

  • ATEN had positive earnings in the past year.
  • ATEN had a positive operating cash flow in the past year.
  • Each year in the past 5 years ATEN has been profitable.
  • In the past 5 years ATEN always reported a positive cash flow from operatings.
ATEN Yearly Net Income VS EBIT VS OCF VS FCFATEN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20M -20M 40M 60M 80M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 6.69%, ATEN is in the better half of the industry, outperforming 78.55% of the companies in the same industry.
  • ATEN has a Return On Equity of 19.92%. This is amongst the best in the industry. ATEN outperforms 86.18% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 7.97%, ATEN is in the better half of the industry, outperforming 80.00% of the companies in the same industry.
  • ATEN had an Average Return On Invested Capital over the past 3 years of 10.44%. This is in line with the industry average of 10.92%.
Industry RankSector Rank
ROA 6.69%
ROE 19.92%
ROIC 7.97%
ROA(3y)9.51%
ROA(5y)13.08%
ROE(3y)20.26%
ROE(5y)26.42%
ROIC(3y)10.44%
ROIC(5y)11.8%
ATEN Yearly ROA, ROE, ROICATEN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40

1.3 Margins

  • Looking at the Profit Margin, with a value of 14.50%, ATEN belongs to the top of the industry, outperforming 80.73% of the companies in the same industry.
  • In the last couple of years the Profit Margin of ATEN has grown nicely.
  • Looking at the Operating Margin, with a value of 16.33%, ATEN belongs to the top of the industry, outperforming 84.00% of the companies in the same industry.
  • ATEN's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 79.34%, ATEN is in the better half of the industry, outperforming 78.91% of the companies in the same industry.
  • In the last couple of years the Gross Margin of ATEN has remained more or less at the same level.
Industry RankSector Rank
OM 16.33%
PM (TTM) 14.5%
GM 79.34%
OM growth 3Y-5.03%
OM growth 5Y15.63%
PM growth 3Y-4.66%
PM growth 5Y12.94%
GM growth 3Y-0.17%
GM growth 5Y0.4%
ATEN Yearly Profit, Operating, Gross MarginsATEN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40 60 80

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6

2. ATEN Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so ATEN is destroying value.
  • Compared to 1 year ago, ATEN has less shares outstanding
  • Compared to 5 years ago, ATEN has more shares outstanding
  • The debt/assets ratio for ATEN is higher compared to a year ago.
ATEN Yearly Shares OutstandingATEN Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M
ATEN Yearly Total Debt VS Total AssetsATEN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M

2.2 Solvency

  • ATEN has an Altman-Z score of 3.50. This indicates that ATEN is financially healthy and has little risk of bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 3.50, ATEN is in the better half of the industry, outperforming 71.27% of the companies in the same industry.
  • ATEN has a debt to FCF ratio of 3.38. This is a good value and a sign of high solvency as ATEN would need 3.38 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 3.38, ATEN is in the better half of the industry, outperforming 61.82% of the companies in the same industry.
  • ATEN has a Debt/Equity ratio of 1.03. This is a high value indicating a heavy dependency on external financing.
  • ATEN's Debt to Equity ratio of 1.03 is on the low side compared to the rest of the industry. ATEN is outperformed by 76.36% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.03
Debt/FCF 3.38
Altman-Z 3.5
ROIC/WACC0.73
WACC10.91%
ATEN Yearly LT Debt VS Equity VS FCFATEN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50M 100M 150M 200M

2.3 Liquidity

  • A Current Ratio of 3.56 indicates that ATEN has no problem at all paying its short term obligations.
  • The Current ratio of ATEN (3.56) is better than 78.91% of its industry peers.
  • A Quick Ratio of 3.43 indicates that ATEN has no problem at all paying its short term obligations.
  • ATEN has a better Quick ratio (3.43) than 77.82% of its industry peers.
Industry RankSector Rank
Current Ratio 3.56
Quick Ratio 3.43
ATEN Yearly Current Assets VS Current LiabilitesATEN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. ATEN Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 3.45% over the past year.
  • Measured over the past years, ATEN shows a quite strong growth in Earnings Per Share. The EPS has been growing by 14.87% on average per year.
  • The Revenue has grown by 11.03% in the past year. This is quite good.
  • The Revenue has been growing slightly by 5.20% on average over the past years.
EPS 1Y (TTM)3.45%
EPS 3Y8.23%
EPS 5Y14.87%
EPS Q2Q%-16.13%
Revenue 1Y (TTM)11.03%
Revenue growth 3Y1.21%
Revenue growth 5Y5.2%
Sales Q2Q%8.29%

3.2 Future

  • Based on estimates for the next years, ATEN will show a quite strong growth in Earnings Per Share. The EPS will grow by 13.53% on average per year.
  • ATEN is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.04% yearly.
EPS Next Y14.92%
EPS Next 2Y13.53%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year11.67%
Revenue Next 2Y11.03%
Revenue Next 3Y11.9%
Revenue Next 5Y9.04%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
ATEN Yearly Revenue VS EstimatesATEN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 100M 200M 300M 400M 500M
ATEN Yearly EPS VS EstimatesATEN Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.5 1

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4

4. ATEN Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 25.33, ATEN can be considered very expensive at the moment.
  • ATEN's Price/Earnings is on the same level as the industry average.
  • ATEN's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 24.75.
  • A Price/Forward Earnings ratio of 22.04 indicates a rather expensive valuation of ATEN.
  • ATEN's Price/Forward Earnings is on the same level as the industry average.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.10, ATEN is valued at the same level.
Industry RankSector Rank
PE 25.33
Fwd PE 22.04
ATEN Price Earnings VS Forward Price EarningsATEN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ATEN indicates a somewhat cheap valuation: ATEN is cheaper than 76.36% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, ATEN is valued a bit cheaper than the industry average as 65.09% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 25.25
EV/EBITDA 18.26
ATEN Per share dataATEN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3 4

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • ATEN has an outstanding profitability rating, which may justify a higher PE ratio.
  • ATEN's earnings are expected to grow with 13.53% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.7
PEG (5Y)1.7
EPS Next 2Y13.53%
EPS Next 3YN/A

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. ATEN Dividend Analysis

5.1 Amount

  • ATEN has a Yearly Dividend Yield of 1.04%.
  • ATEN's Dividend Yield is rather good when compared to the industry average which is at 0.66. ATEN pays more dividend than 91.64% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.89, ATEN's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1.04%

5.2 History

  • ATEN has been paying a dividend for over 5 years, so it has already some track record.
  • ATEN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years3
ATEN Yearly Dividends per shareATEN Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 2026 0.05 0.1 0.15 0.2

5.3 Sustainability

  • ATEN pays out 41.22% of its income as dividend. This is a bit on the high side, but may be sustainable.
DP41.22%
EPS Next 2Y13.53%
EPS Next 3YN/A
ATEN Yearly Income VS Free CF VS DividendATEN Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20M -20M 40M 60M 80M
ATEN Dividend Payout.ATEN Dividend Payout, showing the Payout Ratio.ATEN Dividend Payout.PayoutRetained Earnings

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ATEN Fundamentals: All Metrics, Ratios and Statistics

A10 NETWORKS INC

NYSE:ATEN (3/31/2026, 12:25:00 PM)

22.8

+0.44 (+1.97%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)02-04
Earnings (Next)04-29
Inst Owners99.77%
Inst Owner Change0.01%
Ins Owners1.09%
Ins Owner Change-0.6%
Market Cap1.64B
Revenue(TTM)290.56M
Net Income(TTM)42.14M
Analysts81.54
Price Target24.99 (9.61%)
Short Float %7.42%
Short Ratio5.25
Dividend
Industry RankSector Rank
Dividend Yield 1.04%
Yearly Dividend0.24
Dividend Growth(5Y)N/A
DP41.22%
Div Incr Years0
Div Non Decr Years3
Ex-Date02-13
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)6.93%
Min EPS beat(2)6.43%
Max EPS beat(2)7.42%
EPS beat(4)4
Avg EPS beat(4)6.23%
Min EPS beat(4)3.03%
Max EPS beat(4)8.03%
EPS beat(8)8
Avg EPS beat(8)10.38%
EPS beat(12)10
Avg EPS beat(12)7.19%
EPS beat(16)13
Avg EPS beat(16)7%
Revenue beat(2)2
Avg Revenue beat(2)2.21%
Min Revenue beat(2)0.88%
Max Revenue beat(2)3.55%
Revenue beat(4)4
Avg Revenue beat(4)2.22%
Min Revenue beat(4)0.88%
Max Revenue beat(4)3.55%
Revenue beat(8)7
Avg Revenue beat(8)0.67%
Revenue beat(12)7
Avg Revenue beat(12)-0.46%
Revenue beat(16)8
Avg Revenue beat(16)-0.45%
PT rev (1m)0.69%
PT rev (3m)5.76%
EPS NQ rev (1m)1.45%
EPS NQ rev (3m)7.95%
EPS NY rev (1m)7.29%
EPS NY rev (3m)7.29%
Revenue NQ rev (1m)0.18%
Revenue NQ rev (3m)2.61%
Revenue NY rev (1m)0.44%
Revenue NY rev (3m)3.3%
Valuation
Industry RankSector Rank
PE 25.33
Fwd PE 22.04
P/S 5.63
P/FCF 25.25
P/OCF 19.26
P/B 7.73
P/tB 8.71
EV/EBITDA 18.26
EPS(TTM)0.9
EY3.95%
EPS(NY)1.03
Fwd EY4.54%
FCF(TTM)0.9
FCFY3.96%
OCF(TTM)1.18
OCFY5.19%
SpS4.05
BVpS2.95
TBVpS2.62
PEG (NY)1.7
PEG (5Y)1.7
Graham Number7.73
Profitability
Industry RankSector Rank
ROA 6.69%
ROE 19.92%
ROCE 9.56%
ROIC 7.97%
ROICexc 33.42%
ROICexgc 41.83%
OM 16.33%
PM (TTM) 14.5%
GM 79.34%
FCFM 22.29%
ROA(3y)9.51%
ROA(5y)13.08%
ROE(3y)20.26%
ROE(5y)26.42%
ROIC(3y)10.44%
ROIC(5y)11.8%
ROICexc(3y)30.8%
ROICexc(5y)33.39%
ROICexgc(3y)33.98%
ROICexgc(5y)35.5%
ROCE(3y)12.53%
ROCE(5y)14.16%
ROICexgc growth 3Y-2.52%
ROICexgc growth 5Y-8.63%
ROICexc growth 3Y-9.16%
ROICexc growth 5Y-11%
OM growth 3Y-5.03%
OM growth 5Y15.63%
PM growth 3Y-4.66%
PM growth 5Y12.94%
GM growth 3Y-0.17%
GM growth 5Y0.4%
F-Score5
Asset Turnover0.46
Health
Industry RankSector Rank
Debt/Equity 1.03
Debt/FCF 3.38
Debt/EBITDA 3.51
Cap/Depr 135.46%
Cap/Sales 6.93%
Interest Coverage 14.23
Cash Conversion 136.26%
Profit Quality 153.7%
Current Ratio 3.56
Quick Ratio 3.43
Altman-Z 3.5
F-Score5
WACC10.91%
ROIC/WACC0.73
Cap/Depr(3y)120.23%
Cap/Depr(5y)113.01%
Cap/Sales(3y)5.31%
Cap/Sales(5y)4.37%
Profit Quality(3y)131.27%
Profit Quality(5y)111.82%
High Growth Momentum
Growth
EPS 1Y (TTM)3.45%
EPS 3Y8.23%
EPS 5Y14.87%
EPS Q2Q%-16.13%
EPS Next Y14.92%
EPS Next 2Y13.53%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)11.03%
Revenue growth 3Y1.21%
Revenue growth 5Y5.2%
Sales Q2Q%8.29%
Revenue Next Year11.67%
Revenue Next 2Y11.03%
Revenue Next 3Y11.9%
Revenue Next 5Y9.04%
EBIT growth 1Y9.99%
EBIT growth 3Y-3.89%
EBIT growth 5Y21.64%
EBIT Next Year38.4%
EBIT Next 3Y23.4%
EBIT Next 5Y23.34%
FCF growth 1Y-17.2%
FCF growth 3Y5.41%
FCF growth 5Y4.6%
OCF growth 1Y-6.19%
OCF growth 3Y8.7%
OCF growth 5Y8.95%

A10 NETWORKS INC / ATEN Fundamental Analysis FAQ

What is the ChartMill fundamental rating of A10 NETWORKS INC (ATEN) stock?

ChartMill assigns a fundamental rating of 6 / 10 to ATEN.


What is the valuation status of A10 NETWORKS INC (ATEN) stock?

ChartMill assigns a valuation rating of 4 / 10 to A10 NETWORKS INC (ATEN). This can be considered as Fairly Valued.


What is the profitability of ATEN stock?

A10 NETWORKS INC (ATEN) has a profitability rating of 8 / 10.


Can you provide the expected EPS growth for ATEN stock?

The Earnings per Share (EPS) of A10 NETWORKS INC (ATEN) is expected to grow by 14.92% in the next year.


Is the dividend of A10 NETWORKS INC sustainable?

The dividend rating of A10 NETWORKS INC (ATEN) is 4 / 10 and the dividend payout ratio is 41.22%.