A10 Networks, Inc. (ATEN) Financial Ratios
14 years of historical data (2012–2025) · Technology · Software - Infrastructure
EV/EBITDA
↓
33.98
↑+46% vs avg
5yr avg: 23.35
30Y Low19.1·High31.5
P/FCF
↓
30.19
↑+25% vs avg
5yr avg: 24.07
30Y Low15.3·High63.0
P/B Ratio
↓
9.48
↑+56% vs avg
5yr avg: 6.08
30Y Low2.2·High7.1
ROE
↓
19.0%
↑-34% vs avg
5yr avg: 29.0%
30Y Low-79%·High58%
Debt/EBITDA
↑
3.59
↑+254% vs avg
5yr avg: 1.01
30Y Low0.2·High3.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ATEN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
A10 Networks, Inc. trades at 47.8x earnings, 91% above its 5-year average of 25.0x, sitting at the 100th percentile of its historical range. Compared to the Technology sector median P/E of 27.7x, the stock trades at a premium of 73%. On a free-cash-flow basis, the stock trades at 30.2x P/FCF, 25% above the 5-year average of 24.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.0B | $1.3B | $1.4B | $995M | $1.3B | $1.3B | $789M | $523M | $455M | $541M | $546M |
| Enterprise Value | $2.1B | $1.5B | $1.3B | $915M | $1.2B | $1.3B | $734M | $510M | $414M | $494M | $517M |
| P/E Ratio → | 47.82 | 31.04 | 27.46 | 24.85 | 27.72 | 13.93 | 44.82 | — | — | — | — |
| P/S Ratio | 6.73 | 4.48 | 5.29 | 3.95 | 4.61 | 5.31 | 3.50 | 2.46 | 1.96 | 2.30 | 2.37 |
| P/B Ratio | 9.48 | 6.15 | 5.98 | 4.79 | 7.14 | 6.35 | 6.80 | 4.80 | 4.38 | 5.50 | 6.60 |
| P/FCF | 30.19 | 20.10 | 17.71 | 29.60 | 23.38 | 29.54 | 15.25 | — | — | 63.03 | 44.01 |
| P/OCF | 23.03 | 15.33 | 15.31 | 22.35 | 19.56 | 26.49 | 14.27 | — | — | 37.78 | 29.08 |
P/E links to full P/E history page with 30-year chart
ATEN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
A10 Networks, Inc.'s enterprise value stands at 34.0x EBITDA, 46% above its 5-year average of 23.3x. The Technology sector median is 17.5x, placing the stock at a 95% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.00 | 4.98 | 3.63 | 4.45 | 5.08 | 3.26 | 2.40 | 1.78 | 2.10 | 2.25 |
| EV / EBITDA | 33.98 | 23.44 | 23.57 | 19.06 | 20.62 | 30.06 | 31.48 | — | — | — | — |
| EV / EBIT | 44.69 | 27.72 | 29.62 | 23.66 | 22.92 | 37.62 | 38.37 | — | — | — | — |
| EV / FCF | — | 22.44 | 16.65 | 27.20 | 22.54 | 28.30 | 14.20 | — | — | 57.60 | 41.67 |
ATEN Profitability
Margins and return-on-capital ratios measuring operating efficiency
A10 Networks, Inc. earns an operating margin of 16.2%. ROE of 19.0% indicates solid capital efficiency. ROIC of 13.8% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 79.3% | 79.3% | 80.4% | 80.9% | 79.7% | 78.6% | 77.8% | 77.0% | 77.7% | 77.4% | 76.1% |
| Operating Margin | 16.2% | 16.2% | 16.8% | 15.4% | 18.9% | 13.4% | 7.9% | -8.0% | -11.9% | -4.4% | -8.3% |
| Net Profit Margin | 14.5% | 14.5% | 19.2% | 15.9% | 16.7% | 37.9% | 7.9% | -8.4% | -11.9% | -4.6% | -9.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.0% | 19.0% | 22.8% | 20.6% | 24.1% | 58.4% | 15.9% | -16.8% | -27.3% | -11.9% | -26.0% |
| ROA | 7.9% | 7.9% | 12.2% | 10.5% | 12.3% | 27.7% | 6.3% | -7.0% | -12.0% | -4.9% | -10.3% |
| ROIC | 13.8% | 13.8% | 23.9% | 22.1% | 27.7% | 23.3% | 16.9% | -16.1% | -36.1% | -14.7% | -84.7% |
| ROCE | 11.7% | 11.7% | 15.0% | 14.6% | 20.1% | 14.5% | 9.9% | -10.9% | -20.5% | -8.4% | -17.5% |
ATEN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
A10 Networks, Inc. carries a Debt/EBITDA ratio of 3.6x, which is moderately leveraged (23% above the sector average of 2.9x). Net debt stands at $151M ($223M total debt minus $71M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.05 | 1.05 | 0.05 | 0.08 | 0.12 | 0.11 | 0.25 | 0.30 | — | — | — |
| Debt / EBITDA | 3.59 | 3.59 | 0.22 | 0.35 | 0.36 | 0.55 | 1.23 | — | — | — | — |
| Net Debt / Equity | — | 0.72 | -0.36 | -0.39 | -0.26 | -0.27 | -0.47 | -0.12 | -0.39 | -0.47 | -0.35 |
| Net Debt / EBITDA | 2.44 | 2.44 | -1.51 | -1.68 | -0.77 | -1.32 | -2.34 | — | — | — | — |
| Debt / FCF | — | 2.34 | -1.06 | -2.39 | -0.84 | -1.24 | -1.05 | — | — | -5.43 | -2.34 |
| Interest Coverage | — | — | 5.95 | — | 32.62 | 15.68 | — | -68.25 | -204.70 | -57.92 | -50.02 |
ATEN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A10 Networks, Inc.'s current ratio of 3.56x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 2.45x to 3.56x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.56 | 3.56 | 2.49 | 2.45 | 2.17 | 2.45 | 2.25 | 2.26 | 2.21 | 2.20 | 1.94 |
| Quick Ratio | 3.43 | 3.43 | 2.31 | 2.24 | 2.01 | 2.25 | 2.06 | 2.03 | 2.02 | 2.01 | 1.78 |
| Cash Ratio | 2.83 | 2.83 | 1.58 | 1.43 | 1.28 | 1.59 | 1.47 | 1.33 | 1.32 | 1.41 | 1.13 |
| Asset Turnover | — | 0.46 | 0.60 | 0.65 | 0.76 | 0.64 | 0.78 | 0.78 | 0.98 | 1.05 | 1.06 |
| Inventory Turnover | 3.33 | 3.33 | 2.34 | 2.04 | 2.89 | 2.38 | 2.42 | 2.18 | 2.89 | 3.03 | 3.46 |
| Days Sales Outstanding | — | 77.97 | 106.96 | 107.76 | 94.95 | 90.21 | 82.62 | 91.95 | 84.83 | 74.83 | 97.26 |
ATEN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
A10 Networks, Inc. returns 4.4% to shareholders annually — split between a 0.9% dividend yield and 3.5% buyback yield. A payout ratio of 41.2% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 2.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | 1.3% | 1.3% | 1.8% | 1.2% | 0.3% | — | — | — | — | — |
| Payout Ratio | 41.2% | 41.2% | 35.5% | 44.6% | 33.9% | 4.1% | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.1% | 3.2% | 3.6% | 4.0% | 3.6% | 7.2% | 2.2% | — | — | — | — |
| FCF Yield | 3.3% | 5.0% | 5.6% | 3.4% | 4.3% | 3.4% | 6.6% | — | — | 1.6% | 2.3% |
| Buyback Yield | 3.5% | 5.3% | 2.2% | 1.6% | 6.1% | 1.4% | 4.1% | 0.0% | 0.0% | 0.6% | 0.3% |
| Total Shareholder Yield | 4.4% | 6.6% | 3.5% | 3.4% | 7.4% | 1.7% | 4.1% | 0.0% | 0.0% | 0.6% | 0.3% |
| Shares Outstanding | — | $74M | $75M | $76M | $78M | $80M | $80M | $76M | $73M | $70M | $66M |
Peer Comparison
Compare ATEN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ATENYou | $2B | 47.8 | 34.0 | 30.2 | 79.3% | 16.2% | 19.0% | 13.8% | 3.6 |
 FFIV | $20B | 29.2 | 21.7 | 21.5 | 81.4% | 24.8% | 20.6% | 21.8% | 0.6 |
 NTCT | $3B | -7.6 | — | 13.1 | 78.3% | -44.7% | -21.3% | -19.3% | — |
 RDWR | $1B | 63.0 | 49.2 | 29.4 | 80.7% | 3.8% | 5.4% | 3.0% | 0.7 |
 CSCO | $365B | 36.1 | 26.3 | 27.5 | 64.9% | 20.8% | 22.1% | 13.0% | 2.0 |
 ANET | $178B | 51.5 | 44.9 | 42.0 | 64.1% | 42.8% | 31.4% | 32.8% | — |
 FTNT | $80B | 44.4 | 35.1 | 35.9 | 80.8% | 30.6% | 135.7% | — | 0.4 |
 MRVL | $139B | 52.1 | 106.1 | 99.2 | 51.0% | 16.1% | 19.3% | 6.0% | 3.4 |
 INTC | $550B | -1861.1 | 49.9 | — | 34.8% | -0.0% | -0.2% | -0.0% | 4.0 |
 AMAT | $326B | 47.4 | 38.7 | 57.1 | 48.7% | 29.2% | 35.5% | 33.3% | 0.8 |
 CALX | $3B | 167.4 | 69.6 | 24.3 | 56.8% | 2.1% | 2.2% | 2.1% | 0.7 |
| Technology Median | — | 27.7 | 17.5 | 19.2 | 48.5% | -0.6% | 2.4% | 2.9% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 14 years · Updated daily
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Start ComparisonATEN — Frequently Asked Questions
Quick answers to the most common questions about buying ATEN stock.
What is A10 Networks, Inc.'s P/E ratio?
A10 Networks, Inc.'s current P/E ratio is 47.8x. The historical average is 28.3x. This places it at the 100th percentile of its historical range.
What is A10 Networks, Inc.'s EV/EBITDA?
A10 Networks, Inc.'s current EV/EBITDA is 34.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 24.7x.
What is A10 Networks, Inc.'s ROE?
A10 Networks, Inc.'s return on equity (ROE) is 19.0%. The historical average is -3.8%.
Is ATEN stock overvalued?
Based on historical data, A10 Networks, Inc. is trading at a P/E of 47.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is A10 Networks, Inc.'s dividend yield?
A10 Networks, Inc.'s current dividend yield is 0.87% with a payout ratio of 41.2%.
What are A10 Networks, Inc.'s profit margins?
A10 Networks, Inc. has 79.3% gross margin and 16.2% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does A10 Networks, Inc. have?
A10 Networks, Inc.'s Debt/EBITDA ratio is 3.6x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.