A10 Networks, Inc.

ATEN Technology Software Infrastructure

A10 Networks, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $290.6 million, up 11.0% from fiscal 2024. In the quarter to June 2026, revenue grew 15.5%, EPS fell 20.0%, free cash flow grew 53.3% and total debt was flat, each against the same quarter a year earlier. Dividend growth for five consecutive years.

24.46 0.93 −3.66%
Market cap
$1.8B
P/E
40.8×
Fwd P/E
41.0×
Dividend yield
0.98%
F-score
5/9
Altman Z
3.20
Beneish M
−3.32
Dividend safety
77/100
Dec '16 Dec '17 Dec '18 Dec '19 Dec '20 Dec '21 Dec '22 Dec '23 Dec '24 Dec '25
Piotroski F-Score
6 6 4 3 6 7 7 7 7 5
P/E ratio
0.00 0.00 0.00 0.00 43.59 13.48 26.76 24.13 27.06 29.98
P/S ratio
2.43 2.31 1.96 2.46 3.40 5.11 4.54 3.84 5.21 4.40
Altman Z-Score
2.12 2.45 1.65 1.53 2.85 4.96 5.20 4.37 5.39 3.20
Altman Z″-Score (non-manufacturers)
(0.81) 0.02 (0.45) (0.23) 1.09 3.09 3.29 3.81 4.37 4.61
P/FCF ratio
39.78 63.28 0.00 0.00 14.83 28.43 23.03 28.76 17.43 19.74
Beneish M-Score
(2.74) (3.18) (2.83) (2.05) (3.16) (1.34) (2.50) (2.48) (2.92) (3.32)
P/Operating CF
(180.73) 126.43 161.04 95.40 45.74 143.63 46.60 354.07 53.02 56.29
P/B ratio
6.69 5.52 4.38 4.80 6.61 6.12 7.03 4.65 5.88 6.04
Dividend Safety Score
— — — — — — — — — 77
EV/Sales
1.93 1.75 1.41 2.00 2.83 4.46 4.08 3.28 4.53 3.87
EV/EBITDA
0.00 0.00 0.00 0.00 21.96 26.38 18.92 17.20 21.46 18.13
EV/FCF
31.56 47.99 (59.44) (89.36) 12.33 24.83 20.69 24.56 15.16 17.35
Current Ratio
1.94 2.20 2.21 2.26 2.25 2.45 2.17 2.45 2.49 3.56
Net Debt/EBITDA
9.29 70.46 6.48 14.42 (4.64) (3.92) (2.22) (3.32) (3.54) (2.57)
Debt/Equity
0.00 0.00 0.00 0.26 0.20 0.09 0.09 0.00 0.00 1.03
ROE
(27.50%) (11.87%) (27.31%) (16.76%) 15.85% 58.42% 24.06% 20.56% 22.81% 19.01%
ROA
(10.94%) (4.87%) (11.99%) (6.99%) 6.31% 27.75% 12.31% 10.53% 12.19% 7.93%
ROIC
0.00% 0.00% 0.00% (154.59%) 0.00% 48.35% 70.78% 49.73% 75.76% 56.14%
Return on Tangible Assets
(21.63%) (8.89%) (22.12%) (13.60%) 12.51% 53.12% 29.60% 20.97% 22.50% 10.73%
Average Days of Receivables
98.42 74.83 84.83 91.95 82.62 90.21 94.95 107.76 106.96 77.97
Earnings Yield
(4.11%) (2.06%) (5.97%) (3.46%) 2.29% 7.42% 3.74% 4.14% 3.70% 3.34%
Free Cash Flow Yield
2.51% 1.58% (1.21%) (0.91%) 6.74% 3.52% 4.34% 3.48% 5.74% 5.07%
Free Cash Flow per Share
0.19 0.12 (0.08) (0.06) 0.67 0.58 0.73 0.45 1.06 0.90
Book value per Share
1.26 1.40 1.43 1.43 1.49 2.71 2.40 2.80 3.13 2.93
Free Cash Flow
12.41 8.58 (5.49) (4.77) 51.72 44.93 55.30 33.62 78.22 64.77
EV/EBIT
0.00 0.00 0.00 0.00 35.95 33.42 21.55 21.36 26.97 23.84
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