(ATEN) A10 Network - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US0021211018

Load Balancer, Firewall, Ddos Protection, Ssl Inspection, Analytics

Stock: Systems Software
Age 11.8y

MCap 1,249m
Avg Vol 472K (8.40M USD)

Beta 1.039
Volatility 31.67%

EPS (Earnings per Share)

EPS CAGR: -42.62%
EPS Trend: 2.2%

Last SUE: -4.00
Qual. Beats: 0

Revenue

Rev. CAGR: 1.48%
Rev. Trend: 9.2%

Last SUE: 1.36
Qual. Beats: 5

Dividends

Dividend Yield	1.33%
Yield on Cost 5y	2.58%
Yield CAGR 5y	4.55%
Payout Consistency	98.0%
Payout Ratio	25.3%

Risk via 5d forecast
Volatility	31.7%
Value at Risk 5%th	49.2%
Relative Tail Risk	-5.48%

Reward TTM
Sharpe Ratio	-0.24
Alpha	-24.60
CAGR/Max DD	0.13

Character TTM
Hurst Exponent	0.424
Beta	1.039
Beta Downside	1.043

Drawdowns 3y
Max DD	32.89%
Mean DD	13.44%
Median DD	14.38%

Description: ATEN A10 Network January 18, 2026

A10 Networks (NYSE: ATEN) delivers a portfolio of security and application-delivery solutions-including Thunder ADC, Thunder Carrier-Grade Networking, SSL Insight, Convergent Firewall, and the A10 Control automation suite-across hardware, bare-metal, container, virtual, and cloud-native form factors. Its offerings target cloud and telecom operators, government agencies, and enterprises in sectors such as financial services, gaming, and education, and are sold through direct sales teams as well as distributors, VARs, and system integrators.

Key recent metrics (FY 2023): revenue of approximately $1.0 billion, up ~8 % YoY; subscription-based recurring revenue grew ~20 % YoY, now representing roughly 45 % of total sales; operating margin hovered near 10 % despite higher R&D spend. The company benefits from macro-drivers like accelerating cloud migration, the proliferation of 5G edge deployments, and a sustained rise in DDoS and ransomware attacks, which together fuel demand for integrated, high-performance security appliances.

For a deeper dive into A10’s valuation multiples and peer benchmarking, you may find ValueRay’s analyst toolkit useful.

Piotroski VR‑10 (Strict, 0-10) 5.5

Net Income (50.6m TTM) > 0 and > 6% of Revenue (6% = 17.1m TTM)

FCFTA 0.12 (>2.0%) and ΔFCFTA -1.74pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 117.1% (prev 60.80%; Δ 56.29pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.14 (>3.0%) and CFO 87.9m > Net Income 50.6m (YES >=105%, WARN >=100%)

Net Debt (142.3m) to EBITDA (70.1m) ratio: 2.03 <= 3.0 (WARN <= 3.5)

Current Ratio 3.59 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (73.0m) change vs 12m ago -2.32% (target <= -2.0% for YES)

Gross Margin 79.66% (prev 80.69%; Δ -1.03pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 55.34% (prev 63.25%; Δ -7.91pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 10.63 (EBITDA TTM 70.1m / Interest Expense TTM 5.29m) >= 6 (WARN >= 3)

Altman Z'' 4.02

(A) 0.54 = (Total Current Assets 461.7m - Total Current Liabilities 128.7m) / Total Assets 620.1m

(B) -0.01 = Retained Earnings (Balance) -8.07m / Total Assets 620.1m

(D) -0.18 = Book Value of Equity -76.1m / Total Liabilities 413.9m

Total Rating: 4.02 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 70.72

1. Piotroski 5.50pt

2. FCF Yield 6.51%

3. FCF Margin 25.33%

4. Debt/Equity 1.11

5. Debt/Ebitda 2.03

6. ROIC - WACC (= 4.77)%

7. RoE 24.14%

8. Rev. Trend 9.25%

9. EPS Trend 2.21%

What is the price of ATEN shares?

As of January 21, 2026, the stock is trading at USD 16.95 with a total of 439,105 shares traded.
Over the past week, the price has changed by -1.91%, over one month by -6.51%, over three months by -3.80% and over the past year by -9.61%.

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.

Strong Buy: 3
Buy: 1
Hold: 2
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the ATEN price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	23.2	36.7%
Analysts Target Price	23.2	36.7%
ValueRay Target Price	17.5	3.4%

ATEN Fundamental Data Overview January 19, 2026

P/E Trailing = 25.087
P/E Forward = 18.3824
P/S = 4.3915
P/B = 6.0209
P/EG = -10.86
Revenue TTM = 284.4m USD
EBIT TTM = 56.3m USD
EBITDA TTM = 70.1m USD
Long Term Debt = 218.4m USD (from longTermDebt, last quarter)
Short Term Debt = 5.53m USD (from shortTermDebt, last quarter)
Debt = 228.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 142.3m USD (from netDebt column, last quarter)
Enterprise Value = 1.11b USD (1.25b + Debt 228.8m - CCE 370.9m)
Interest Coverage Ratio = 10.63 (Ebit TTM 56.3m / Interest Expense TTM 5.29m)
EV/FCF = 15.36x (Enterprise Value 1.11b / FCF TTM 72.1m)
FCF Yield = 6.51% (FCF TTM 72.1m / Enterprise Value 1.11b)
FCF Margin = 25.33% (FCF TTM 72.1m / Revenue TTM 284.4m)
Net Margin = 17.78% (Net Income TTM 50.6m / Revenue TTM 284.4m)
Gross Margin = 79.66% ((Revenue TTM 284.4m - Cost of Revenue TTM 57.8m) / Revenue TTM)
Gross Margin QoQ = 80.14% (prev 78.85%)
Tobins Q-Ratio = 1.78 (Enterprise Value 1.11b / Total Assets 620.1m)
Interest Expense / Debt = 1.04% (Interest Expense 2.39m / Debt 228.8m)
Taxrate = 12.88% (1.80m / 14.0m)
NOPAT = 49.0m (EBIT 56.3m * (1 - 12.88%))
Current Ratio = 3.59 (Total Current Assets 461.7m / Total Current Liabilities 128.7m)
Debt / Equity = 1.11 (Debt 228.8m / totalStockholderEquity, last quarter 206.2m)
Debt / EBITDA = 2.03 (Net Debt 142.3m / EBITDA 70.1m)
Debt / FCF = 1.97 (Net Debt 142.3m / FCF TTM 72.1m)
Total Stockholder Equity = 209.5m (last 4 quarters mean from totalStockholderEquity)
RoA = 9.84% (Net Income 50.6m / Total Assets 620.1m)
RoE = 24.14% (Net Income TTM 50.6m / Total Stockholder Equity 209.5m)
RoCE = 13.15% (EBIT 56.3m / Capital Employed (Equity 209.5m + L.T.Debt 218.4m))
RoIC = 13.14% (NOPAT 49.0m / Invested Capital 373.0m)
WACC = 8.37% (E(1.25b)/V(1.48b) * Re(9.74%) + D(228.8m)/V(1.48b) * Rd(1.04%) * (1-Tc(0.13)))
Discount Rate = 9.74% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -1.29%
[DCF Debug] Terminal Value 79.48% ; FCFF base≈65.0m ; Y1≈77.1m ; Y5≈119.8m
Fair Price DCF = 24.45 (EV 1.90b - Net Debt 142.3m = Equity 1.75b / Shares 71.7m; r=8.37% [WACC]; 5y FCF grow 19.78% → 2.90% )
EPS Correlation: 2.21 | EPS CAGR: -42.62% | SUE: -4.0 | # QB: 0
Revenue Correlation: 9.25 | Revenue CAGR: 1.48% | SUE: 1.36 | # QB: 5
EPS next Quarter (2026-03-31): EPS=0.21 | Chg30d=-0.005 | Revisions Net=-1 | Analysts=6
EPS next Year (2026-12-31): EPS=0.94 | Chg30d=-0.032 | Revisions Net=-1 | Growth EPS=+7.4% | Growth Revenue=+8.1%

Additional Sources for ATEN Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle