HLIT
Harmonic Inc.
Communication Equipment
Market Cap$1.38B
5Y Perf.+127.8%
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Stock Comparison
HLIT vs ATEN
Revenue, margins, valuation, and 5-year total return — side by side.
ATEN
A10 Networks, Inc.
Software - Infrastructure
Market Cap$1.96B
5Y Perf.+300.9%
HLIT vs ATEN — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | HLIT | ATEN |
|---|---|---|
| Industry | Communication Equipment | Software - Infrastructure |
| Market Cap | $1.38B | $1.96B |
| Revenue (TTM) | $636M | $299M |
| Net Income (TTM) | $50M | $45M |
| Gross Margin | 55.7% | 79.3% |
| Operating Margin | 12.1% | 17.2% |
| Forward P/E | 21.8x | 26.4x |
| Total Debt | $148M | $223M |
| Cash & Equiv. | $101M | $71M |
HLIT vs ATEN — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
HLIT
ATEN
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Harmonic Inc. (HLIT) | 100 | 227.8 | +127.8% |
| A10 Networks, Inc. (ATEN) | 100 | 400.9 | +300.9% |
Price return only. Dividends and distributions are not included.
Quick Verdict: HLIT vs ATEN
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: ATEN leads in 5 of 7 categories, making it the strongest pick for profitability and margin quality and capital preservation and lower volatility. Harmonic Inc. is the stronger pick specifically for growth and revenue expansion and valuation and capital efficiency. As sector peers, any of these can serve as alternatives in the same allocation.
HLIT
Harmonic Inc.
The Growth Play
HLIT is the clearest fit if your priority is growth exposure.
- Rev growth 11.6%, EPS growth -54.2%, 3Y rev CAGR 10.2%
- 11.6% revenue growth vs ATEN's 11.0%
- Lower P/E (21.8x vs 26.4x)
Best for: growth exposure
ATEN
A10 Networks, Inc.
The Income Pick
ATEN carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 0 yrs, beta 0.99, yield 0.9%
- 366.2% 10Y total return vs HLIT's 269.9%
- Lower volatility, beta 0.99, current ratio 3.56x
Best for: income & stability and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | HLIT | 11.6% revenue growth vs ATEN's 11.0% |
| Value | HLIT | Lower P/E (21.8x vs 26.4x) |
| Quality / Margins | ATEN | 14.9% margin vs HLIT's 7.8% |
| Stability / Safety | ATEN | Beta 0.99 vs HLIT's 1.51 |
| Dividends | ATEN | 0.9% yield; the other pay no meaningful dividend |
| Momentum (1Y) | ATEN | +62.4% vs HLIT's +38.1% |
| Efficiency (ROA) | ATEN | 7.2% ROA vs HLIT's 6.5%, ROIC 13.8% vs 9.3% |
HLIT vs ATEN — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2024
FY 2025
HLIT vs ATEN — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLATENLAGGINGHLIT
HLITHarmonic Inc.
1leads
ATENA10 Networks, Inc.
3leads
6 Total Categories
CATEGORYLEADERvs HLITMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
ATEN5/6
Valuation MetricsMultiples, price ratios, and targets
HLIT6/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
ATEN5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
ATEN6/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
ATEN leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
HLIT is the larger business by revenue, generating $636M annually — 2.1x ATEN's $299M. ATEN is the more profitable business, keeping 14.9% of every revenue dollar as net income compared to HLIT's 7.8%. On growth, ATEN holds the edge at +13.4% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | HLITHarmonic Inc. | ATENA10 Networks, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $636M | $299M |
| EBITDAEarnings before interest/tax | $88M | $63M |
| Net IncomeAfter-tax profit | $50M | $45M |
| Free Cash FlowCash after capex | $133M | $51M |
| Gross MarginGross profit ÷ Revenue | +55.7% | +79.3% |
| Operating MarginEBIT ÷ Revenue | +12.1% | +17.2% |
| Net MarginNet income ÷ Revenue | +7.8% | +14.9% |
| FCF MarginFCF ÷ Revenue | +21.0% | +17.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | -27.3% | +13.4% |
| EPS Growth (YoY)Latest quarter vs prior year | -87.5% | +30.8% |
ATEN leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
HLIT leads this category, winning 6 of 6 comparable metrics.
Valuation Metrics
At 37.2x trailing earnings, HLIT trades at a 22% valuation discount to ATEN's 47.8x P/E. On an enterprise value basis, HLIT's 18.9x EV/EBITDA is more attractive than ATEN's 34.0x.
| Metric | HLITHarmonic Inc. | ATENA10 Networks, Inc. |
|---|---|---|
| Market CapShares × price | $1.4B | $2.0B |
| Enterprise ValueMkt cap + debt − cash | $1.4B | $2.1B |
| Trailing P/EPrice ÷ TTM EPS | 37.21x | 47.82x |
| Forward P/EPrice ÷ next-FY EPS est. | 21.80x | 26.40x |
| PEG RatioP/E ÷ EPS growth rate | — | 2.28x |
| EV / EBITDAEnterprise value multiple | 18.93x | 33.98x |
| Price / SalesMarket cap ÷ Revenue | 2.03x | 6.73x |
| Price / BookPrice ÷ Book value/share | 3.10x | 9.48x |
| Price / FCFMarket cap ÷ FCF | 26.13x | 30.19x |
HLIT leads this category, winning 6 of 6 comparable metrics.
Profitability & Efficiency
ATEN leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
ATEN delivers a 21.2% return on equity — every $100 of shareholder capital generates $21 in annual profit, vs $11 for HLIT. HLIT carries lower financial leverage with a 0.32x debt-to-equity ratio, signaling a more conservative balance sheet compared to ATEN's 1.05x. On the Piotroski fundamental quality scale (0–9), HLIT scores 7/9 vs ATEN's 5/9, reflecting strong financial health.
| Metric | HLITHarmonic Inc. | ATENA10 Networks, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +11.2% | +21.2% |
| ROA (TTM)Return on assets | +6.5% | +7.2% |
| ROICReturn on invested capital | +9.3% | +13.8% |
| ROCEReturn on capital employed | +11.2% | +11.7% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 5 |
| Debt / EquityFinancial leverage | 0.32x | 1.05x |
| Net DebtTotal debt minus cash | $47M | $151M |
| Cash & Equiv.Liquid assets | $101M | $71M |
| Total DebtShort + long-term debt | $148M | $223M |
| Interest CoverageEBIT ÷ Interest expense | 12.92x | 55.40x |
ATEN leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
ATEN leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in ATEN five years ago would be worth $30,997 today (with dividends reinvested), compared to $16,938 for HLIT. Over the past 12 months, ATEN leads with a +62.4% total return vs HLIT's +38.1%. The 3-year compound annual growth rate (CAGR) favors ATEN at 26.7% vs HLIT's -3.1% — a key indicator of consistent wealth creation.
| Metric | HLITHarmonic Inc. | ATENA10 Networks, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +22.6% | +57.5% |
| 1-Year ReturnPast 12 months | +38.1% | +62.4% |
| 3-Year ReturnCumulative with dividends | -8.9% | +103.5% |
| 5-Year ReturnCumulative with dividends | +69.4% | +210.0% |
| 10-Year ReturnCumulative with dividends | +269.9% | +366.2% |
| CAGR (3Y)Annualised 3-year return | -3.1% | +26.7% |
ATEN leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
Evenly matched — HLIT and ATEN each lead in 1 of 2 comparable metrics.
Risk & Volatility
ATEN is the less volatile stock with a 0.99 beta — it tends to amplify market swings less than HLIT's 1.51 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. HLIT currently trades 99.2% from its 52-week high vs ATEN's 95.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | HLITHarmonic Inc. | ATENA10 Networks, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.51x | 0.99x |
| 52-Week HighHighest price in past year | $12.38 | $28.59 |
| 52-Week LowLowest price in past year | $7.80 | $16.52 |
| % of 52W HighCurrent price vs 52-week peak | +99.2% | +95.3% |
| RSI (14)Momentum oscillator 0–100 | 76.9 | 57.7 |
| Avg Volume (50D)Average daily shares traded | 1.1M | 952K |
Evenly matched — HLIT and ATEN each lead in 1 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates HLIT as "Hold" and ATEN as "Buy". Consensus price targets imply 1.8% upside for HLIT (target: $13) vs -25.4% for ATEN (target: $20). ATEN is the only dividend payer here at 0.87% yield — a key consideration for income-focused portfolios.
| Metric | HLITHarmonic Inc. | ATENA10 Networks, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $12.50 | $20.33 |
| # AnalystsCovering analysts | 19 | 20 |
| Dividend YieldAnnual dividend ÷ price | — | +0.9% |
| Dividend StreakConsecutive years of raises | — | 0 |
| Dividend / ShareAnnual DPS | — | $0.24 |
| Buyback YieldShare repurchases ÷ mkt cap | +2.2% | +3.5% |
Insufficient data to determine a leader in this category.
Key Takeaway
ATEN leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). HLIT leads in 1 (Valuation Metrics). 1 tied.
Best OverallA10 Networks, Inc. (ATEN)Leads 3 of 6 categories
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HLIT vs ATEN: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is HLIT or ATEN a better buy right now?
For growth investors, Harmonic Inc.
(HLIT) is the stronger pick with 11. 6% revenue growth year-over-year, versus 11. 0% for A10 Networks, Inc. (ATEN). Harmonic Inc. (HLIT) offers the better valuation at 37. 2x trailing P/E (21. 8x forward), making it the more compelling value choice. Analysts rate A10 Networks, Inc. (ATEN) a "Buy" — based on 20 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — HLIT or ATEN?
On trailing P/E, Harmonic Inc.
(HLIT) is the cheapest at 37. 2x versus A10 Networks, Inc. at 47. 8x. On forward P/E, Harmonic Inc. is actually cheaper at 21. 8x.
03Which is the better long-term investment — HLIT or ATEN?
Over the past 5 years, A10 Networks, Inc.
(ATEN) delivered a total return of +210. 0%, compared to +69. 4% for Harmonic Inc. (HLIT). Over 10 years, the gap is even starker: ATEN returned +366. 2% versus HLIT's +269. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — HLIT or ATEN?
By beta (market sensitivity over 5 years), A10 Networks, Inc.
(ATEN) is the lower-risk stock at 0. 99β versus Harmonic Inc. 's 1. 51β — meaning HLIT is approximately 52% more volatile than ATEN relative to the S&P 500. On balance sheet safety, Harmonic Inc. (HLIT) carries a lower debt/equity ratio of 32% versus 105% for A10 Networks, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — HLIT or ATEN?
By revenue growth (latest reported year), Harmonic Inc.
(HLIT) is pulling ahead at 11. 6% versus 11. 0% for A10 Networks, Inc. (ATEN). On earnings-per-share growth, the picture is similar: A10 Networks, Inc. grew EPS -14. 9% year-over-year, compared to -54. 2% for Harmonic Inc.. Over a 3-year CAGR, HLIT leads at 10. 2% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — HLIT or ATEN?
A10 Networks, Inc.
(ATEN) is the more profitable company, earning 14. 5% net margin versus 5. 8% for Harmonic Inc. — meaning it keeps 14. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ATEN leads at 16. 2% versus 9. 3% for HLIT. At the gross margin level — before operating expenses — ATEN leads at 79. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is HLIT or ATEN more undervalued right now?
On forward earnings alone, Harmonic Inc.
(HLIT) trades at 21. 8x forward P/E versus 26. 4x for A10 Networks, Inc. — 4. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for HLIT: 1. 8% to $12. 50.
08Which pays a better dividend — HLIT or ATEN?
In this comparison, ATEN (0.
9% yield) pays a dividend. HLIT does not pay a meaningful dividend and should not be held primarily for income.
09Is HLIT or ATEN better for a retirement portfolio?
For long-horizon retirement investors, A10 Networks, Inc.
(ATEN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 99), 0. 9% yield, +366. 2% 10Y return). Harmonic Inc. (HLIT) carries a higher beta of 1. 51 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (ATEN: +366. 2%, HLIT: +269. 9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between HLIT and ATEN?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
ATEN pays a dividend while HLIT does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(HLIT: -27.3% · ATEN: 13.4%)Net Margin>
%
(HLIT: 7.8% · ATEN: 14.9%)P/E Ratio<
x
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