A10 Networks, Inc. (ATEN) AI Stock Analysis

A10 Networks, Inc. provides networking solutions across the Americas, Japan, Asia Pacific, and EMEA regions. Its offerings improve application delivery, security, and network performance. Core products include the Thunder Application Delivery Controller (ADC) for server load balancing, Lightning ADC for cloud-native delivery, and Thunder Threat Protection System (TPS) for protection against distributed denial of service (DDoS) attacks. It also offers Thunder SSL Insight to decrypt encrypted traffic for deep packet inspection, the Thunder Convergent Firewall, and management tools such as the harmony controller and aGalaxy TPS across multiple sectors.

A10 Networks grew revenue from $250.0M in FY2021 to $290.6M in FY2025, representing a 5-year CAGR of 5.2%. Annual revenue contracted 10.2% in FY2023 to $251.7M before rebounding 4.0% in FY2024 to $261.7M and 11.0% in FY2025. Gross margins have stayed consistent, coming in at 79.3% in FY2025 compared to 78.6% in FY2021. Operating margin was 16.2% in FY2025, and net income reached $42.1M. Over the trailing twelve months, revenue stood at $310.2M with an operating margin of 11.3%. In the latest quarter ended June 30, 2026, revenue increased 15.5% year-over-year, while quarterly earnings declined 14.3%.

As of June 30, 2026, A10 Networks had $357.3M in cash and short-term investments against $219.5M in total debt, leaving net cash of $137.8M. The company recorded a current ratio of 1.29 and a debt-to-equity ratio of 0.92. In FY2025, operating cash flow was $84.9M and capital expenditures were $20.1M, generating free cash flow of $64.8M. Cash deployment in FY2025 included $68.9M for share buybacks and $17.4M for dividends, contributing to a 5.8% reduction in share count over 5 years.

At $24.46 per share, A10 Networks has a market cap of $1.78B and trades at a trailing P/E of 42.2x and a forward P/E of 23.3x. These levels sit above the median of its US-listed Technology peers, where trailing P/E is 28.1x and forward P/E is 18.8x. Its price-to-sales multiple is 5.7x, compared to the peer median of 2.8x, and its EV/EBITDA is 22.7x versus the peer median of 16.6x. Over the past year, the stock gained 43.3%, outperforming the S&P 500 (SPY) return of 16.8%. Over 5 years, the stock returned 90.7% versus 83.0% for the index.

A10 Networks pays a forward annual dividend of $0.24 per share, resulting in a dividend yield of 0.98%. The company has paid dividends for 6 consecutive years, supported by a payout ratio of 27.3%. Dividends are distributed on a quarterly frequency, with the last ex-dividend date on August 17, 2026.

Wall Street analysts hold 3 Strong Buy, 1 Buy, and 2 Hold ratings on ATEN, with zero Sell ratings. The mean price target is $36.00, which is 47.2% above the last close of $24.46. For the current fiscal year ending December 31, 2026, consensus estimates project revenue of $329.2M and EPS of $1.04, reflecting 16.0% EPS growth. The company beat EPS estimates in 3 of the last 4 quarters, and the next earnings date is November 5, 2026.

This page is an AI-written research summary of A10 Networks, Inc. (ATEN). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: ATEN income statement, ATEN balance sheet, ATEN key metrics, ATEN analyst forecast, ATEN chart. See the ATEN stock overview for the latest quote and news.