A10 NETWORKS INC (ATEN) Stock Fundamental Analysis

NYSE:ATEN • US0021211018

20.26 USD
+0.4 (+2.01%)
Last: Mar 3, 2026, 01:59 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

6

ATEN gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 276 industry peers in the Software industry. While ATEN belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. ATEN is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • In the past year ATEN was profitable.
  • ATEN had a positive operating cash flow in the past year.
  • Each year in the past 5 years ATEN has been profitable.
  • ATEN had a positive operating cash flow in each of the past 5 years.
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

  • With a decent Return On Assets value of 6.69%, ATEN is doing good in the industry, outperforming 77.54% of the companies in the same industry.
  • The Return On Equity of ATEN (19.92%) is better than 86.23% of its industry peers.
  • With an excellent Return On Invested Capital value of 7.97%, ATEN belongs to the best of the industry, outperforming 80.43% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for ATEN is in line with the industry average of 10.80%.
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

  • ATEN has a better Profit Margin (14.50%) than 79.71% of its industry peers.
  • ATEN's Profit Margin has improved in the last couple of years.
  • ATEN has a Operating Margin of 16.33%. This is amongst the best in the industry. ATEN outperforms 84.06% of its industry peers.
  • ATEN's Operating Margin has improved in the last couple of years.
  • With a decent Gross Margin value of 79.34%, ATEN is doing good in the industry, outperforming 78.99% of the companies in the same industry.
  • ATEN's Gross Margin has been stable in the last couple of years.
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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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so ATEN is destroying value.
  • ATEN has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for ATEN has been increased compared to 5 years ago.
  • 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

  • An Altman-Z score of 3.24 indicates that ATEN is not in any danger for bankruptcy at the moment.
  • With a decent Altman-Z score value of 3.24, ATEN is doing good in the industry, outperforming 66.30% of the companies in the same industry.
  • The Debt to FCF ratio of ATEN is 3.38, which is a good value as it means it would take ATEN, 3.38 years of fcf income to pay off all of its debts.
  • ATEN's Debt to FCF ratio of 3.38 is fine compared to the rest of the industry. ATEN outperforms 62.32% of its industry peers.
  • A Debt/Equity ratio of 1.03 is on the high side and indicates that ATEN has dependencies on debt financing.
  • ATEN has a worse Debt to Equity ratio (1.03) than 76.81% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.03
Debt/FCF 3.38
Altman-Z 3.24
ROIC/WACC0.74
WACC10.8%
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 77.90% of its industry peers.
  • A Quick Ratio of 3.43 indicates that ATEN has no problem at all paying its short term obligations.
  • The Quick ratio of ATEN (3.43) is better than 76.45% 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

5

3. Growth

3.1 Past

  • The Earnings Per Share has been growing slightly by 3.45% over the past year.
  • ATEN shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 14.87% yearly.
  • 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

  • The Earnings Per Share is expected to grow by 9.32% on average over the next years. This is quite good.
  • Based on estimates for the next years, ATEN will show a quite strong growth in Revenue. The Revenue will grow by 9.04% on average per year.
EPS Next Y7.12%
EPS Next 2Y9.32%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year11.18%
Revenue Next 2Y10.1%
Revenue Next 3Y6.72%
Revenue Next 5Y9.04%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • 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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5

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 22.51, the valuation of ATEN can be described as rather expensive.
  • Compared to the rest of the industry, the Price/Earnings ratio of ATEN indicates a somewhat cheap valuation: ATEN is cheaper than 66.67% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 27.13, ATEN is valued at the same level.
  • A Price/Forward Earnings ratio of 21.02 indicates a rather expensive valuation of ATEN.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of ATEN indicates a somewhat cheap valuation: ATEN is cheaper than 63.77% of the companies listed in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 28.11. ATEN is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 22.51
Fwd PE 21.02
ATEN Price Earnings VS Forward Price EarningsATEN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ATEN indicates a rather cheap valuation: ATEN is cheaper than 80.43% of the companies listed in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of ATEN indicates a somewhat cheap valuation: ATEN is cheaper than 70.29% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 22.37
EV/EBITDA 15.32
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 high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates ATEN does not grow enough to justify the current Price/Earnings ratio.
  • The excellent profitability rating of ATEN may justify a higher PE ratio.
PEG (NY)3.16
PEG (5Y)1.51
EPS Next 2Y9.32%
EPS Next 3YN/A

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

4

5. Dividend

5.1 Amount

  • ATEN has a Yearly Dividend Yield of 1.25%. Purely for dividend investing, there may be better candidates out there.
  • ATEN's Dividend Yield is rather good when compared to the industry average which is at 0.58. ATEN pays more dividend than 92.39% of the companies in the same industry.
  • Compared to the average S&P500 Dividend Yield of 1.82, ATEN is paying slightly less dividend.
Industry RankSector Rank
Dividend Yield 1.25%

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 2Y9.32%
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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A10 NETWORKS INC

NYSE:ATEN (3/3/2026, 1:59:54 PM)

20.26

+0.4 (+2.01%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)02-04
Earnings (Next)04-29
Inst Owners100.09%
Inst Owner Change-0.09%
Ins Owners1.17%
Ins Owner Change-0.28%
Market Cap1.45B
Revenue(TTM)290.56M
Net Income(TTM)42.14M
Analysts81.54
Price Target24.82 (22.51%)
Short Float %8.62%
Short Ratio7.75
Dividend
Industry RankSector Rank
Dividend Yield 1.25%
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)5.04%
PT rev (3m)5.04%
EPS NQ rev (1m)6.41%
EPS NQ rev (3m)7.24%
EPS NY rev (1m)0%
EPS NY rev (3m)-2.52%
Revenue NQ rev (1m)2.42%
Revenue NQ rev (3m)3.16%
Revenue NY rev (1m)2.85%
Revenue NY rev (3m)5.23%
Valuation
Industry RankSector Rank
PE 22.51
Fwd PE 21.02
P/S 4.99
P/FCF 22.37
P/OCF 17.06
P/B 6.85
P/tB 7.62
EV/EBITDA 15.32
EPS(TTM)0.9
EY4.44%
EPS(NY)0.96
Fwd EY4.76%
FCF(TTM)0.91
FCFY4.47%
OCF(TTM)1.19
OCFY5.86%
SpS4.06
BVpS2.96
TBVpS2.66
PEG (NY)3.16
PEG (5Y)1.51
Graham Number7.74
Profitability
Industry RankSector Rank
ROA 6.69%
ROE 19.92%
ROCE 9.56%
ROIC 7.97%
ROICexc 33.42%
ROICexgc 40.8%
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)33.64%
ROICexgc(5y)35.3%
ROCE(3y)12.53%
ROCE(5y)14.16%
ROICexgc growth 3Y-3.34%
ROICexgc growth 5Y-9.09%
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 250
Cash Conversion 136.26%
Profit Quality 153.7%
Current Ratio 3.56
Quick Ratio 3.43
Altman-Z 3.24
F-Score5
WACC10.8%
ROIC/WACC0.74
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 Y7.12%
EPS Next 2Y9.32%
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 Year11.18%
Revenue Next 2Y10.1%
Revenue Next 3Y6.72%
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 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 5 / 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 7.12% 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%.