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A10 Networks, Inc. ATEN

NYSE · stock · Computer Communications Equipment · website · IPO 2014-03-21 · LEI

A10 Networks, Inc. statistics & valuation

Market cap$2.5B
P / E59.8×
P / S8.7×
P / B11.9×
P / FCF38.9×
Dividend yield0.69%
Net margin14.5%
Return on equity19.9%
FCF margin22.3%
Net debt$147.6M
Net debt / EBITDA2.4×
Enterprise value USD$2.7B
EV / EBITDA43×
Earnings yield EBIT/EV1.8%
Return on capital9.5%
Graham number -77.9%$6.07

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($6.07); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-9.90% -4.60% -11.90% -8.40% 7.90% 37.90% 16.70% 15.90% 19.20% 14.50% 2016201720182019202020212022202320242025
Gross margin (%)
76.10% 77.40% 77.70% 77.00% 77.80% 78.60% 79.70% 80.90% 80.40% 79.30% 2016201720182019202020212022202320242025
Operating margin (%)
-9.00% -4.40% -11.90% -8.00% 7.90% 13.40% 18.90% 15.40% 16.80% 16.20% 2016201720182019202020212022202320242025
Return on equity (%)
-27.10% -10.90% -26.60% -16.40% 15.40% 45.40% 25.90% 19.20% 21.60% 19.90% 2016201720182019202020212022202320242025
Shares outstanding
67.9M 71.7M 74.3M 77.6M 80.0M 80.0M 77.8M 75.5M 75.3M 73.6M 2016201720182019202020212022202320242025
Net debt ($)
-$95.1M $147.6M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
-10.30% -4.80% -11.70% -6.50% 6.10% 24.10% 12.70% 10.30% 11.60% 6.70% 2016201720182019202020212022202320242025
Free cash flow margin (%)
6.10% 3.60% -2.40% -2.20% 22.90% 18.00% 19.70% 13.40% 29.90% 22.30% 2016201720182019202020212022202320242025
Debt / equity (×)
0.00× 1.03× 2016201720182019202020212022202320242025
EPS ($)
-$0.38 -$0.23 $0.22 $1.19 $0.60 $0.53 $0.67 $0.57 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

A10 Networks, Inc. trades at about 48.2× earnings — above its 10-year norm (10-year range 12.4×–45.1×, median 29.3×).

12.4× 48.2×

Shaded band = 10-year range (12.4×–45.1×); dot = today's 48.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin79.3%80.4%80.9%79.7%78.6%77.8%77.0%77.7%77.4%76.1%
Operating margin16.2%16.8%15.4%18.9%13.4%7.9%-8.0%-11.9%-4.4%-9.0%
Net margin14.5%19.2%15.9%16.7%37.9%7.9%-8.4%-11.9%-4.6%-9.9%
FCF margin22.3%29.9%13.4%19.7%18.0%22.9%-2.2%-2.4%3.6%6.1%
Return on assets6.7%11.6%10.3%12.7%24.1%6.1%-6.5%-11.7%-4.8%-10.3%
Return on equity19.9%21.6%19.2%25.9%45.4%15.4%-16.4%-26.6%-10.9%-27.1%
Debt / equity1.03×0.00×————————
Current ratio3.562.492.452.172.452.252.262.212.201.94

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.