# A10 Networks Inc. (ATEN) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Financial Services / Diversified Financial Services. Price $24.59, market value $1.8 billion.

## Valuation
- **P/E (trailing): 42.4×** (5-yr avg 24.2×, 3-yr avg 27.3×). A10 Networks Inc. trades at 42.4× trailing earnings, well above its own five-year average of 24.2×: investors are paying up relative to the company's past. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 20.7×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 5.8×**. Each dollar of revenue is priced at 5.8×.
- **Price / book: 7.5×**. The shares trade at 7.5× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 29.2×**. Enterprise value is 29.2× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 3.4%** (5-yr avg 4.5%). Free cash flow equals 3.4% of the market value, below its five-year average of 4.5%, so the shares are pricier on cash than usual.
- **Earnings yield: 2.4%**. The inverse of the P/E: 2.4% of the price is earned each year.

## Profitability
- **Gross margin: 79.4%**. A10 Networks Inc. keeps 79.4% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 16.1%**. 16.1% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 14.5%**. 14.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 19.9%**. 19.9% on shareholders' equity is solid.
- **Return on invested capital: 11.0%**. Return on all capital, debt included, is 11.0%.
- **Return on assets: 6.8%**. Each dollar of assets produces 6.8% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 11.0%** (3-yr 1.2%/yr, 5-yr 5.2%/yr). Revenue grew 11.0% over the last year, against 5.2% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): -14.9%** (3-yr -1.7%/yr, 5-yr 21.0%/yr). Earnings per share fell 14.9%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 5.4%/yr**. Free cash flow has compounded at 5.4% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.
- **Cash and short-term investments: $71 million**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 0.98%** ($0.24 per share, trailing). A10 Networks Inc. yields 0.98%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 41%** (28% of free cash flow). 41% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 5**. 5 straight years of increases.

## Price and momentum
- **Total return (1 yr): 39.2%** (YTD 39.7%, 3-mo -19.6%). The shares are up 39.2% over twelve months including dividends.
- **From 52-week high: -36.1%** (48.8% above the low). Trading 36% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 34**. An RSI of 34 is neutral.
- **Beta (1 yr): 1.06** (volatility 37%). Beta of 1.06 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=ATEN · Page: https://foliofundamentals.com/stocks/aten

Not investment advice.