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Company Analysis

A10 Networks, Inc. ATEN

A comprehensive view of key metrics, scores, and financial health for A10 Networks, Inc.

Overview of A10 Networks, Inc.

ATEN NYQ
Technology Software - Infrastructure Framework: Software & SaaS Mid Cap
A10 Networks, Inc. (ATEN), is a Mid Cap company, in the Software - Infrastructure industry, last closed at $24.79, about 29.0% overvalued vs fair value, +42.1% 1Y return, placing in the top 10% of its sector.
Metrics P/E 30.9× Rev Growth 11.0% ROE 19.0% Gross Margin 79.3% Div Yield 1.37%
USD 24.79
1.10%
(Delayed)
• Vol 90d: 45.5%
52-Week Range
Market Cap
$2.74B
Enterprise Value
$2.61B
Overall Score
View breakdown
Overall
Growth
Fair
Profitability
Good
Health
Fair
Efficiency
Fair
Valuation
Good
Growth
Fair
Profitability
Good
Health
Fair
Efficiency
Fair
Valuation
Good
Completeness: 100%
Confidence: 62%
Updated: Sep 12
Top Beats
No strong beats yet

Quick Facts

Website https://www.a10networks.com
HQ San Jose, CA
Employees 494
Fiscal year Dec 31

Next Events

Earnings Nov 3 Estimated

Fair Value Snapshot

Bear Base Bull
$16
$18
$19
Current: $24.79 -29% vs base

Engine Room Money Flow™

Mid Cap

Software & SaaS - Where revenue goes and how value is created

Flow Steps
Total Revenue
$290.6M
11%%
Gross Profit
$230.5M
9.6%%
Operating Income (GAAP)
$47.1M
7.2%%
Operating Cash Flow
$84.9M
-6.2%%
Money Flow Bridge
Flow Direction: Money moves from left to right
Components: Breakdown shows composition of each stage
Industry-Specific: Software & SaaS

Quality & Reliability Indicators

Gross Margin
79.3%
Excellent

Gross Profit / Revenue — pricing power and product moat (SaaS benchmark: >70%)

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Owner's Pocket - Capital Allocation

Total Returned to Shareholders

Combined dividends, buybacks, and debt reduction

$86.3M
133.2% of FCF

Where It Leaks

Cash Flow Health critical
Significant cash flow inefficiencies identified. Multiple high-impact leaks require attention.
4
Active Leaks
1/4
Improving
0
High Impact
1
Critical
Locked Leak
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Moat Analysis Software & SaaS Specialized

Competitive Advantage Assessment

Evaluating A10 Networks, Inc.'s durable competitive advantages across 6 defense dimensions

Overall Moat Strength
64
/100
Moderate
Scores based on quantitative metrics and qualitative factors
Full moat analysis

Key strengths

  • Premium Software Margins Gross margin quality is strong versus peers (score 0.85), consistent with premium software economics.
  • Revenue Converts Cleanly to Cash Cash conversion is strong (score 0.82), showing scalable economics.

Key risks

  • Weak Product Reinvestment R&D commitment lags peers (score 0.38), weakening the innovation moat.
  • Contracted Demand Looks Thin Contracted demand signal is weak (score 0.24), limiting evidence of strong subscription stickiness.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Strong
88
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Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Software SaaS vs Industry Peers 100% Coverage
Trade-Off Triangle Visualization A ternary plot showing ATEN's balance between Growth (23.8%), Profitability (43.4%), and Safety (32.8%). Growth 24% Safety 33% Profitability 43%

Click axes to expand details. Marker shows current allocation.

3-Year Trend Analysis Locked
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Growth

43th percentile vs peers
43
Key Signals
Rev Growth YoY 11.0% 53p Revenue CAGR 3Y 1.2% 30p Buyback % -3.0% 83p TSR -2.5% 52p Def Rev Growth -3.7% 28p
Strengths
  • Gross Profit Margin in top 20% of peers (79.3%, 83th percentile)
  • FCF Margin in top 20% of peers (22.3%, 83th percentile)
  • Net Debt/EBITDA in top 20% of peers (-1.51, 80th percentile)
  • Superior capital returns - 2 return metrics above peer median
Risks

No significant risks identified for this axis.

Profitability

79th percentile vs peers
79
Key Signals
Strengths
Risks
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Safety

59th percentile vs peers
60
Key Signals
Strengths
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Two Futures

Scenario-based fair value ranges for A10 Networks, Inc..

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Unable to Compute Fair Value

This company cannot be valued using standard models.

What this means: The Scenario Theatre requires financial data (revenue, cash flow, shares outstanding) to calculate fair value estimates. This data may be unavailable for:

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  • Shell companies or holding companies
  • Companies that haven't filed recent financials
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Bear
-
- - -
- upside
-
Base
$17.60
- - -
-29.0% vs current
Snapshot base estimate
Bull
-
- - -
- upside
-
Fair Value Range Current: $-
$- $- $-
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