C3.ai, Inc. (AI) vs A10 Networks, Inc. (ATEN)

C3.ai, Inc. and A10 Networks, Inc. are both Software Infrastructure companies. C3.ai, Inc. and A10 Networks, Inc. are of similar size ($1.9B and $1.7B). C3.ai, Inc. has negative trailing earnings, so its P/E is not meaningful; A10 Networks, Inc. trades at 42.9×. A10 Networks, Inc. grew revenue faster over the last twelve months: 12.2% against −37.6%. A10 Networks, Inc. has the higher net margin (13.9% vs −192.1%) and the higher return on invested capital (31.3% vs −673.0%). Across the 19 metrics below, A10 Networks, Inc. leads on 14 and C3.ai, Inc. on 5.

Valuation

Metric AI ATEN Software Infrastructure median
P/E n/m 42.88 28.02
P/S 7.10 5.99 3.07
P/B 2.38 7.80 3.36
Price to free cash flow n/m 30.47 17.12
EV/EBITDA n/m 29.24 14.91
EV/Sales 4.30 6.25 3.03
Earnings yield (28.92%) 2.33% 0.13%
Free cash flow yield (9.44%) 3.28% 1.15%

Profitability

Metric AI ATEN Software Infrastructure median
Gross margin 29.09% 79.38% 61.23%
Operating margin (203.09%) 16.14% 0.00%
Net margin (192.10%) 13.85% 0.00%
Free cash flow margin (67.03%) 19.65% 1.67%
Return on equity (59.77%) 19.45% 0.59%
Return on assets (48.43%) 6.68% 0.00%
Return on invested capital (673.03%) 31.25% 0.00%

Growth

Metric AI ATEN Software Infrastructure median
Revenue growth (TTM) (37.55%) 12.20% 13.41%
EPS growth (last fiscal year) (49.55%) (14.93%) —
Revenue growth, 5-year CAGR 6.44% 5.20% 15.81%
Net income growth, 5-year CAGR 0.00% 18.79% 0.00%

Health

Metric AI ATEN Software Infrastructure median
Debt to equity 0.00 0.92 0.06
Current ratio 6.16 1.29 1.55
Net debt to EBITDA 1.19 (2.57) 0.08

Dividend

Metric AI ATEN Software Infrastructure median
Dividend yield — 1.90% 1.53%
Payout ratio 0.00 0.38 0.00

Size

Metric AI ATEN Software Infrastructure median
Market cap 1.73b 1.89b 835.96m

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