A10 Networks, Inc. (ATEN) Key Metrics
ATEN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.78B
- Enterprise value
- $1.81B
- P/E (TTM)
- 42.2 10-yr median 27.6
- Forward P/E
- 23.3
- PEG ratio
- 14.76
- Price / sales
- 5.7 10-yr median 3.7
- Price / book
- 8.2 10-yr median 6.1
- EV / EBITDA
- 22.7 10-yr median 20.3
- Dividend yield
- 0.98% $0.24 a year
- Beta
- 1.12
ATEN key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsATEN valuation Price multiples at each fiscal year-end price.
ATEN returns How much profit the business earns on the capital it uses.
ATEN per-share figures Results divided by the shares outstanding at year-end.
ATEN financial health Debt, liquidity and how easily interest is covered.
ATEN efficiency & capital use Working capital cycle and where the cash goes.
ATEN valuation history
ATEN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ATEN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ATEN cash returned to shareholders
ATEN price vs earnings per share
ATEN key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.30B | $1.39B | $995.0M | $1.29B | $1.33B | $789.0M | $522.7M | $454.8M | $553.5M | $546.0M |
| Enterprise value | $1.15B | $1.20B | $852.5M | $1.16B | $1.17B | $659.6M | $425.9M | $326.4M | $422.3M | $431.6M |
| P/E ratio | 30.9 | 27.6 | 24.9 | 27.6 | 14.0 | 44.3 | — | — | — | — |
| Price / sales | 4.5 | 5.3 | 4.0 | 4.6 | 5.3 | 3.5 | 2.5 | 2.0 | 2.4 | 2.4 |
| Price / book | 6.2 | 6.0 | 4.8 | 7.1 | 6.4 | 6.8 | 4.8 | 4.4 | 5.6 | 6.6 |
| Price / free cash flow | 20.1 | 17.7 | 29.6 | 23.4 | 29.5 | 15.3 | — | — | 64.5 | 44.0 |
| Price / operating cash flow | 15.3 | 15.3 | 22.4 | 19.6 | 26.5 | 14.3 | — | — | 38.7 | 29.1 |
| EV / sales | 3.9 | 4.6 | 3.4 | 4.2 | 4.7 | 2.9 | 2.0 | 1.4 | 1.8 | 1.9 |
| EV / EBITDA | 17.0 | 15.7 | 22.1 | 18.8 | 27.3 | 21.7 | — | — | — | — |
| EV / free cash flow | 17.7 | 15.4 | 25.4 | 21.0 | 25.9 | 12.8 | — | — | 49.2 | 34.8 |
| Earnings yield | 3.2% | 3.6% | 4.0% | 3.6% | 7.2% | 2.3% | −3.4% | −6.1% | −1.9% | −3.8% |
| Free cash flow yield | 5.0% | 5.6% | 3.4% | 4.3% | 3.4% | 6.6% | −0.9% | −1.2% | 1.6% | 2.3% |
| Dividend yield | 1.3% | 1.3% | 1.8% | 1.2% | 0.3% | 0.5% | 0.7% | 0.9% | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 6.6% | 3.5% | 3.4% | 7.4% | 1.7% | 4.6% | 0.7% | 1.5% | 0.6% | 0.3% |
| Share price at fiscal year-end | $17.69 | $18.40 | $13.17 | $16.63 | $16.58 | $9.86 | $6.87 | $6.24 | $7.72 | $8.31 |
| Per share | ||||||||||
| Revenue per share | $3.95 | $3.48 | $3.33 | $3.61 | $3.12 | $2.82 | $2.79 | $3.19 | $3.28 | $3.50 |
| Earnings per share | $0.57 | $0.67 | $0.53 | $0.60 | $1.19 | $0.22 | −$0.23 | −$0.38 | −$0.15 | −$0.32 |
| Operating cash flow per share | $1.15 | $1.20 | $0.59 | $0.85 | $0.63 | $0.69 | −$0.01 | −$0.04 | $0.20 | $0.29 |
| Free cash flow per share | $0.88 | $1.04 | $0.44 | $0.71 | $0.56 | $0.65 | −$0.06 | −$0.08 | $0.12 | $0.19 |
| Cash per share | $5.13 | $2.60 | $2.11 | $1.94 | $2.31 | $1.98 | $1.71 | $1.76 | $1.83 | $1.74 |
| Book value per share | $2.87 | $3.08 | $2.75 | $2.33 | $2.61 | $1.45 | $1.43 | $1.43 | $1.37 | $1.26 |
| Tangible book value per share | $2.58 | $3.06 | $2.73 | $2.31 | $2.59 | $1.42 | $1.38 | $1.36 | $1.28 | $1.14 |
| Dividends per share | $0.24 | $0.24 | $0.24 | $0.20 | $0.05 | $0.05 | $0.05 | $0.05 | $0.00 | $0.00 |
| Capex per share | $0.27 | $0.16 | $0.14 | $0.14 | $0.06 | $0.04 | $0.06 | $0.04 | $0.08 | $0.10 |
| Debt per share | $3.03 | $0.16 | $0.22 | $0.28 | $0.29 | $0.36 | $0.44 | — | $0.00 | $0.00 |
| Shares outstanding | 73.6M | 75.3M | 75.5M | 77.8M | 80.0M | 80.0M | 76.1M | 72.9M | 71.7M | 65.7M |
| Change in shares outstanding | −2.3% | −0.3% | −2.8% | −2.9% | +0.0% | +5.2% | +4.4% | +1.7% | +9.1% | +5.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 19.0% | 22.8% | 20.6% | 24.1% | 58.4% | 15.9% | −16.8% | −27.3% | −11.9% | −26.0% |
| Return on invested capital (ROIC) | 72.5% | 66.8% | 60.3% | 95.6% | 197.9% | — | — | — | — | — |
| Return on assets (ROA) | 7.9% | 12.2% | 10.5% | 12.3% | 27.7% | 6.3% | −7.0% | −12.0% | −4.9% | −10.3% |
| Return on tangible assets | 6.9% | 11.6% | 10.3% | 12.8% | 24.2% | 6.2% | −6.6% | −12.0% | −4.9% | −10.0% |
| Free cash flow margin | 22.3% | 29.9% | 13.4% | 19.7% | 18.0% | 22.9% | −2.2% | −2.4% | 3.6% | 5.4% |
| Income quality (OCF / net income) | 2.01 | 1.80 | 1.11 | 1.41 | 0.53 | 3.10 | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $222.6M | $11.9M | $16.8M | $21.6M | $23.3M | $28.8M | $33.2M | — | $0 | $0 |
| Cash & short-term investments | $377.9M | $195.6M | $159.3M | $151.0M | $185.0M | $158.1M | $129.9M | $128.4M | $131.1M | $114.3M |
| Net debt | −$155.2M | −$183.6M | −$142.5M | −$129.4M | −$161.7M | −$129.4M | −$96.8M | −$128.4M | −$131.1M | −$114.3M |
| Debt / equity | 1.05 | 0.05 | 0.08 | 0.12 | 0.11 | 0.25 | 0.30 | — | 0.00 | 0.00 |
| Debt / assets | 0.35 | 0.03 | 0.04 | 0.06 | 0.06 | 0.10 | 0.12 | — | 0.00 | 0.00 |
| Net debt / EBITDA | −2.31 | −2.39 | −3.69 | −2.09 | −3.79 | −4.25 | — | — | — | — |
| Current ratio | 3.56 | 2.49 | 2.45 | 2.17 | 2.45 | 2.25 | 2.26 | 2.21 | 2.20 | 1.94 |
| Quick ratio | 3.43 | 2.31 | 2.24 | 2.01 | 2.25 | 2.06 | 2.03 | 2.02 | 2.01 | 1.78 |
| Interest coverage | 7.4 | 6.0 | 560.1 | 31.8 | 15.5 | — | -72.1 | -214.6 | — | -45.1 |
| Working capital | $342.3M | $183.7M | $160.8M | $138.7M | $167.9M | $134.5M | $123.4M | $117.6M | $111.1M | $95.3M |
| Invested capital | $56.3M | $48.2M | $65.4M | $51.7M | $47.1M | −$13.4M | $12.0M | −$24.5M | −$32.7M | −$31.6M |
| Tangible asset value | $190.2M | $230.5M | $206.6M | $179.7M | $207.5M | $113.8M | $105.2M | $133.5M | $91.9M | $107.4M |
| Net current asset value | $57.7M | $106.3M | $89.9M | $68.9M | $99.8M | $67.5M | $55.7M | $117.6M | $77.3M | $95.3M |
| Graham number | $6.09 | $6.79 | $5.72 | $5.62 | $8.34 | $2.69 | — | — | — | — |
| Graham net-net per share | $0.21 | $0.84 | $0.59 | $0.35 | $0.73 | $0.40 | $0.21 | $1.10 | $0.69 | $1.02 |
| Capital allocation | ||||||||||
| Dividends paid | $17.4M | $17.8M | $17.8M | $15.9M | $3.9M | $3.9M | $3.9M | $3.9M | $0 | $0 |
| Share buybacks (net) | $68.9M | $30.1M | $16.0M | $79.3M | $18.3M | $32.5M | $0 | $3.1M | $3.1M | $1.8M |
| Dividend payout ratio | 41.2% | 35.5% | 44.6% | 33.9% | 4.1% | 21.8% | — | — | — | — |
| Dividends + buybacks / free cash flow | 133.2% | 61.2% | 100.5% | 172.1% | 49.3% | 70.4% | — | — | 35.8% | 14.5% |
| Capex / revenue | 6.9% | 4.7% | 4.3% | 3.9% | 2.1% | 1.6% | 2.0% | 1.2% | 2.4% | 2.8% |
| Capex / operating cash flow | 23.7% | 13.6% | 24.5% | 16.3% | 10.3% | 6.4% | — | — | 40.1% | 33.9% |
| Capex / depreciation | 1.35 | 1.09 | 1.17 | 1.46 | 0.58 | 0.32 | 0.43 | 0.35 | 0.67 | 0.77 |
| Stock-based compensation / revenue | 6.9% | 6.5% | 5.6% | 4.8% | 5.8% | 5.5% | 7.8% | 7.3% | — | 7.4% |
| R&D / revenue | 23.8% | 22.1% | 21.9% | 20.8% | 21.6% | 25.7% | 29.1% | 28.1% | 26.8% | 26.4% |
| SG&A / revenue | 39.3% | 41.5% | 43.6% | 40.0% | 43.6% | 44.2% | 54.8% | 61.5% | 55.0% | 57.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 87.2 | 105.3 | 106.8 | 87.7 | 82.4 | 84.7 | 92.3 | 80.3 | 84.9 | 92.1 |
| Days of inventory on hand | 121.7 | 161.6 | 164.4 | 135.4 | 147.3 | 156.9 | 150.5 | 124.9 | 114.4 | 114.7 |
| Days payables outstanding | 73.7 | 69.4 | 52.3 | 43.6 | 39.9 | 45.3 | 59.0 | 137.4 | 139.4 | 67.7 |
| Cash conversion cycle (days) | 135.2 | 197.4 | 218.9 | 179.5 | 189.8 | 196.3 | 183.8 | 67.8 | 60.0 | 139.1 |
| Receivables turnover | 4.19 | 3.47 | 3.42 | 4.16 | 4.43 | 4.31 | 3.95 | 4.54 | 4.30 | 3.96 |
| Payables turnover | 4.95 | 5.26 | 6.98 | 8.37 | 9.14 | 8.06 | 6.19 | 2.66 | 2.62 | 5.39 |
| Inventory turnover | 3.00 | 2.26 | 2.22 | 2.70 | 2.48 | 2.33 | 2.43 | 2.92 | 3.19 | 3.18 |
| Asset turnover | 0.55 | 0.64 | 0.66 | 0.74 | 0.73 | 0.80 | 0.83 | 1.01 | 1.07 | 1.13 |
| Average receivables | $69.4M | $75.5M | $73.6M | $67.4M | $56.4M | $52.3M | $53.8M | $51.1M | $54.8M | $58.0M |
| Average payables | $12.1M | $9.8M | $6.9M | $6.8M | $5.9M | $6.2M | $7.9M | $19.5M | $20.4M | $10.2M |
| Average inventory | $20.0M | $22.8M | $21.6M | $21.1M | $21.6M | $21.6M | $20.2M | $17.8M | $16.7M | $17.3M |
| Intangibles / total assets | 3.4% | 0.3% | 0.3% | 0.4% | 0.3% | 0.7% | 1.3% | 2.1% | 2.9% | 3.7% |
Computed from ATEN's annual financial statements (latest annual report filed February 25, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ATEN valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), A10 Networks traded at 30.9 times earnings, against a 10-year median of 27.6. Based on the latest twelve months, the trailing P/E is 42.2 and the forward P/E is 23.3. A10 Networks earned a return on equity of 19.0% and a return on invested capital of 72.5% in fiscal 2025. It ended the year with $222.6 million of debt and $377.9 million in cash and short-term investments, a net cash position of $155.2 million. It returned $86.3 million to shareholders: $17.4 million in dividends and $68.9 million in share buybacks, 133% of free cash flow. The share count rose 12.0% from 65.7M to 73.6M over 9 years.
See the ATEN income statement, the ATEN chart for price history, or the ATEN stock overview for the latest quote and news.
ATEN key metrics FAQ
What is A10 Networks's P/E ratio?
A10 Networks's trailing P/E ratio is 42.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 23.3. At the end of fiscal 2025 it was 30.9, compared with a 10-year median of 27.6.
What is A10 Networks's EV/EBITDA?
A10 Networks's enterprise value was 17.0 times EBITDA at the end of fiscal 2025 (enterprise value $1.1 billion, EBITDA $67.3 million); the current EV/EBITDA is 22.7.
What is A10 Networks's return on equity?
A10 Networks's return on equity (ROE) was 19.0% in fiscal 2025: net income of $42.1 million on average shareholders' equity of $221.7 million.
What is A10 Networks's ROIC?
A10 Networks's return on invested capital was 72.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does A10 Networks have?
A10 Networks had total debt of $222.6 million at the end of fiscal 2025, a debt-to-equity ratio of 1.05 and more cash than debt.
What is A10 Networks's dividend yield?
A10 Networks's forward dividend yield is 0.98%. A10 Networks paid $17.4 million in dividends in fiscal 2025 ($0.24 per share), a payout ratio of 41.2%.
Does A10 Networks buy back its shares?
Yes. A10 Networks spent $68.9 million on net share repurchases in fiscal 2025 Shares outstanding changed −2.3% over the year, to 73.6M..
What is A10 Networks's free cash flow yield?
A10 Networks generated $64.8 million of free cash flow in fiscal 2025, a free cash flow yield of 5.0% on its market value at year-end ($1.3 billion).
What is A10 Networks's current ratio?
A10 Networks's current ratio was 3.56 at the end of fiscal 2025: current assets were 3.56 times current liabilities.