ATEN Stock Analysis: A10 Network | NYSE

Application Delivery, Network Security, DDoS Mitigation, Traffic Analytics

Total Rating 45

Safety 58

Buy Signal -0.52

Software - Infrastructure
Industry Rotation: -3.6

Market Cap: 2.09B
Avg Turnover: 29.1M

Risk 3d forecast

Volatility45.6%

VaR 5^th Pctl7.96%

VaR vs Median5.95%

Reward TTM

Sharpe Ratio1.02

Rel. Str. IBD48.8

Rel. Str. Peer Group38.2 pctl

Character TTM

Beta1.038

Beta Downside0.960

Hurst Exponent0.441

Choppyness39.4%

Drawdowns 3y

Max DD35.86%

CAGR/Max DD0.91

CAGR/Mean DD2.81

EPS (Earnings per Share)

EPS CAGR: 10.50%
EPS Trend: 88.7%

Last SUE: -1.87
Qual. Beats: -1

Revenue

Rev. CAGR: 7.79%
Rev. Trend: 93.0%

Last SUE: 1.01
Qual. Beats: 2

Warnings

Below Avwap Earnings

Below Sma 200d

Tailwinds

No distinct edge detected

Seasonality 11.7 years of data

Jan -2.4% 29

Feb +0.4% 8

Mar -3.9% 31

Apr -4.2% 31

May +5.9% 39

Jun +0.4% 14

Jul +7.2% 17

Aug -2.1% 11

Sep -1.0% 14

Oct -1.4% 14

Nov +9.9% 32

Dec +0.9% 17

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: ATEN A10 Network

A10 Networks (NYSE: ATEN) is a U.S.-based provider of secure application and network infrastructure solutions, headquartered in San Jose, California and operating globally across the Americas, Asia Pacific, Europe, the Middle East, and Africa. Founded in 2004 and publicly listed since 2014, the company is classified within the Information Technology sector under the Systems Software sub-industry.

The companys offerings are organized into two main categories. Its security portfolio includes web application and API protection (ThreatX), a suite of DDoS defense products, a next-generation web application firewall, and a SaaS-based attack protection platform. Its infrastructure portfolio centers on the A10 Thunder family of hardware appliances, including application delivery controllers (ADCs) and load balancers, consolidated firewall platforms, Carrier-Grade NAT (CGN) products for IPv4-to-IPv6 migration, and SSL/TLS inspection tools for encrypted traffic visibility. Centralized management and analytics are delivered through the A10 Control platform.

A10 sells primarily through a channel-based go-to-market model, using distributors, value-added resellers (VARs), and system integrators to reach customers across telecommunications, technology, financial services, public sector, industrial, retail, gaming, and education industries. The business model combines traditional hardware appliance sales with an expanding portfolio of subscription-based and SaaS security offerings, reflecting the broader industry shift toward hybrid deployment models in enterprise networking and cybersecurity.

Headlines to Watch Out For

Japan revenue concentration exposes ATEN to FX volatility
ThreatX subscription revenue accelerates shift to recurring model
DDoS attack surge boosts security product demand

Piotroski VR-10 (Strict) 5.5

Net Income: 43.0m TTM > 0 and > 6% of Revenue
FCF/TA: 0.09 > 0.02 and ΔFCF/TA -2.63 > 1.0
NWC/Revenue: 35.04% < 20% (prev 126.2%; Δ -91.17% < -1%)
CFO/TA 0.11 > 3% & CFO 76.9m > Net Income 43.0m
Net Debt (-131.3m) to EBITDA (71.9m): -1.83 < 3
Current Ratio: 1.29 > 1.5 & < 3
Outstanding Shares: last quarter (75.7m) vs 12m ago 3.47% < -2%
Gross Margin: 79.54% > 18% (prev 79.72%; Δ -0.18% > 0.5%)
Asset Turnover: 48.25% > 50% (prev 45.47%; Δ 2.78% > 0%)
Interest Coverage Ratio: 8.77 > 6 (EBIT TTM 55.7m / Interest Expense TTM 6.35m)

Altman Z'' 2.31

A: 0.16 (Total Current Assets 483.2m - Total Current Liabilities 374.5m) / Total Assets 677.7m
B: 0.03 (Retained Earnings 22.7m / Total Assets 677.7m)
C: 0.09 (EBIT TTM 55.7m / Avg Total Assets 642.8m)
D: 0.54 (Book Value of Equity 238.0m / Total Liabilities 439.7m)
Altman-Z'' = 2.31 = BBB

Beneish M -2.62

DSRI: 1.23 (Receivables 72.2m/52.4m, Revenue 310.2m/276.4m)
GMI: 1.00 (GM 79.72% / 79.54%)
AQI: 1.22 (AQ_t 0.21 / AQ_t-1 0.18)
SGI: 1.12 (Revenue 310.2m / 276.4m)
TATA: -0.05 (NI 43.0m - CFO 76.9m) / TA 677.7m)
Beneish M = -2.62 (Cap -4..+1) = A

What is the price of ATEN shares?

As of October 18, 2026, the stock is trading at USD 24.46 with a total of 1,345,373 shares traded. Over the past week, the price has changed by -17.45%, over one month by -9.24%, over three months by -31.83% and over the past year by +41.60%.

Current recommended Stop Loss: 22.80 (which is 6.8% or 1.4 ATR below the current price).

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	36.7	49.9%

A10 Network (ATEN) - Fundamental Data Overview as of 14 October 2026

Market Cap USD = 2.09b (2.09b USD * 1.0 USD.USD)
P/E Trailing = 49.5172
P/E Forward = 23.2558
P/S = 6.7231
P/B = 8.1621
P/EG = 14.7609
Revenue TTM = 310.2m USD
EBIT TTM = 55.7m USD
EBITDA TTM = 71.9m USD
Long Term Debt = 218.8m USD (from longTermDebt, last fiscal year)
Short Term Debt = 219.5m USD (from shortTermDebt, last quarter)
Debt = 226.1m USD (from shortLongTermDebtTotal, last quarter) + Leases 6.57m
Net Debt = -131.3m USD (calculated: Debt 226.1m - CCE 357.3m)
Enterprise Value = 1.95b USD (2.09b + Debt 226.1m - CCE 357.3m)
Interest Coverage Ratio = 8.77 (Ebit TTM 55.7m / Interest Expense TTM 6.35m)
EV/FCF = 32.07x (Enterprise Value 1.95b / FCF TTM 60.9m)
FCF Yield = 3.12% (FCF TTM 60.9m / Enterprise Value 1.95b)
FCF Margin = 19.65% (FCF TTM 60.9m / Revenue TTM 310.2m)
Net Margin = 13.85% (Net Income TTM 43.0m / Revenue TTM 310.2m)
Gross Margin = 79.54% ((Revenue TTM 310.2m - Cost of Revenue TTM 63.5m) / Revenue TTM)
Gross Margin QoQ = 79.09% (prev 80.29%)
Tobins Q-Ratio = 2.88 (Enterprise Value 1.95b / Total Assets 677.7m)
Interest Expense / Debt = 2.81% (Interest Expense 6.35m / Debt 226.1m)
Taxrate = 20.66% (11.2m / 54.2m)
NOPAT = 44.2m (EBIT 55.7m * (1 - 20.66%))
Current Ratio = 1.29 (Total Current Assets 483.2m / Total Current Liabilities 374.5m)
Debt / Equity = 0.95 (Debt 226.1m / totalStockholderEquity, last quarter 238.0m)
Debt / EBITDA = -1.83 (Net Debt -131.3m / EBITDA 71.9m)
Debt / FCF = -2.15 (Net Debt -131.3m / FCF TTM 60.9m)
Total Stockholder Equity = 219.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 6.68% (Net Income 43.0m / Total Assets 677.7m)
RoE = 19.61% (Net Income TTM 43.0m / Total Stockholder Equity 219.1m)
RoCE = 12.72% (EBIT 55.7m / Capital Employed (Equity 219.1m + L.T.Debt 218.8m))
RoIC = 8.71% (NOPAT 44.2m / Invested Capital 507.2m)
WACC = 8.45% (E(2.09b)/V(2.31b) * Re(9.13%) + D(226.1m)/V(2.31b) * Rd(2.81%) * (1-Tc(0.21)))
Discount Rate = 9.13% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -50.73 | Cagr: 0.20%
[DCF] Terminal Value 72.93% ; FCFF base≈64.8m ; Y1≈57.5m ; Y5≈47.7m
[DCF] Fair Price = 12.13 (EV 749.5m - Net Debt -131.3m = Equity 880.8m / Shares 72.6m; r=8.45% [WACC]; 5y FCF grow -13.73% → 2.50% )
EPS Correlation: 88.67 | EPS CAGR: 10.50% | SUE: -1.87 | # QB: -1
Revenue Correlation: 92.99 | Revenue CAGR: 7.79% | SUE: 1.01 | # QB: 2
EPS current Quarter (2026-09-30): EPS=0.27 | Chg30d=+1.24% | Revisions=+0% | Analysts=5
EPS current Year (2026-12-31): EPS=1.04 | Chg30d=+0.21% | Revisions=+29% | GrowthEPS=+16.0% | GrowthRev=+13.3%
EPS next Year (2027-12-31): EPS=1.19 | Chg30d=-0.35% | Revisions=+50% | GrowthEPS=+13.6% | GrowthRev=+11.5%
[Analyst] Revisions Ratio: +42% (up=7, down=2)