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A10 Networks ATEN
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Quarterly report 2026-Q1
added 05-07-2026

A10 Networks Financial Ratios 2025-2011 | ATEN

Brief overview of A10 Networks's valuation and returns

Current figures are compared with the company's own five-year history for 2021–2025.

The latest available valuation ratios are P/E 32.92x (median 24.56x), EV/EBITDA 27.97x (median 27.97x), P/S 4.77x (median 4.37x). Ratios sit near their own comparison base, with an average deviation of +5.1% from five-year medians.

The inverse P/E implies an earnings yield of 3%. This is not a dividend yield, but current earnings relative to market price.

The latest available business-quality ratios are ROE 19.9%, ROA 6.7%, ROCE 22.3%. Capital returns look adequate and support overall financial resilience.

On PEG (1.56x), the market prices growth without an obvious discount or excessive premium.

The time from paying for inputs to receiving cash fell from 189.8 days to 135.2 days. Cash turnover improved.

Overall picture

A10 Networks trades near its familiar ratio range. A new earnings or profitability trend is needed to change the view.

Annual Financial Ratios A10 Networks

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011

P/E

32.9 29.6 24.6 24.1 11.5 40.5 -29.5 -17.7 -45.5 -24.6 -9.2 -6.7 - - -

P/S

4.8 5.7 3.9 4.0 4.4 3.2 2.5 2.1 2.1 2.2 1.9 1.3 - - -

EPS

0.6 0.7 0.5 0.6 1.2 0.2 -0.2 -0.4 -0.1 -0.3 -0.6 -0.7 -3.1 -10.8 -

EV (Enterprise Value)

1.73 B 1.59 B 1.07 B 1.25 B 1.2 B 813 M 646 M 580 M 570 M 621 M 384 M 232 M 82 M 123 M -

EBITDA per Share

0.86 0.75 0.65 0.8 0.55 0.37 -0.0596 -0.272 -0.0266 -0.133 -0.441 -0.472 - - -

EV/EBITDA

28.0 28.8 22.2 20.7 28.0 23.5 -106.0 -22.6 -238.1 -55.5 -9.9 -6.2 - - -

PEG

1.56 -0.24 -0.17 0.55 0.62 -7.83 -0.75 0.12 -0.86 -0.49 -0.68 0.35 - - -

P/B

6.6 6.4 4.7 6.2 5.2 6.2 4.8 4.7 5.0 6.0 4.6 2.4 - - -

P/CF

16.3 16.4 22.1 17.1 21.8 13.0 -110.5 -88.9 57.1 41.5 -4297.4 -6.4 - - -

ROE %

19.92 21.63 19.23 25.91 45.42 15.36 -16.38 -26.58 -10.93 -24.33 -50.00 -35.96 - - -

ROA %

6.69 11.58 10.25 12.71 24.14 6.13 -6.50 -11.71 -4.78 -9.46 -20.79 -18.57 - - -

ROCE %

22.28 18.97 18.59 29.32 15.98 15.29 -8.25 -19.98 -7.85 -14.36 -34.61 -28.47 - - -

Current Ratio

1.5 2.2 2.1 2.0 2.1 1.7 2.3 2.2 2.2 2.0 2.0 2.4 - - -

DSO

87.2 105.3 106.8 87.7 82.4 84.7 92.0 84.8 74.8 105.9 106.0 109.8 - - -

DIO

121.7 161.6 164.4 135.4 147.3 156.9 167.1 126.1 120.3 100.2 136.9 176.0 - - -

DPO

73.7 69.4 52.3 43.6 39.9 45.3 56.7 57.7 61.8 65.5 78.6 76.5 - - -

Operating Cycle

208.8 266.9 271.2 223.1 229.7 241.6 259.1 210.9 195.2 206.1 242.9 285.8 - - -

Cash Conversion Cycle

135.2 197.4 218.9 179.5 189.8 196.3 202.4 153.3 133.3 140.6 164.2 209.3 - - -

All numbers in USD currency

Quarterly Financial Ratios A10 Networks

2026-Q1 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

EPS

0.17 0.17 0.15 0.13 - 0.17 0.13 0.13 - 0.09 0.16 0.05 - 0.16 0.14 0.08 0.14 0.97 0.09 0.03 0.1 0.08 0.05 - - - -0.08 -0.16 -0.02 -0.02 -0.06 -0.27 0.01 -0.03 -0.11 -0.02 - -0.07 -0.08 -0.15 - -0.14 -0.16 -0.22 - -0.21 -0.02 -0.45 - -0.38 -1.12 -0.95 - - - - - - - -

EBITDA per Share

0.24 0.22 0.18 0.17 - 0.16 0.13 0.13 - 0.05 0.18 0.11 - 0.22 0.18 0.13 - 0.22 0.1 0.08 - 0.19 0.13 0.04 - 0.1 -0.02 -0.11 - 0.06 0.01 -0.25 - 0.06 -0.05 0.01 - -0.04 -0.06 -0.12 - -0.1 -0.12 -0.18 - -0.15 0.03 -0.15 - 0.08 -0.84 -0.7 - - - - - - - -

ROE %

21.40 21.77 20.27 19.65 14.78 18.06 18.27 15.98 11.44 18.98 21.04 18.43 16.30 21.43 50.68 50.65 49.36 50.99 19.78 17.75 15.36 8.65 3.23 -5.36 -16.38 -17.97 -19.87 -18.93 -26.58 -24.24 -24.78 -28.50 -10.93 -17.17 -20.62 -23.61 -22.26 -33.45 -40.47 -51.89 -40.81 -53.55 -43.70 -36.52 -19.37 -17.33 2.98 10.65 15.94 2.04 7.57 6.33 - - - - - - - -

ROA %

7.17 8.37 8.79 9.52 7.94 9.66 9.71 8.44 5.98 9.41 9.45 9.03 7.92 27.92 24.48 26.72 25.87 25.84 8.06 7.14 6.13 3.45 1.29 -2.13 -6.50 -7.20 -8.03 -7.85 -11.71 -10.68 -10.91 -12.53 -4.78 -7.25 -8.48 -9.25 -8.65 -13.31 -16.38 -21.28 -16.97 -23.55 -19.59 -17.13 -10.00 -12.93 -17.24 -25.65 -22.92 -2.93 -10.89 -9.10 - - - - - - - -

ROCE %

21.72 20.64 18.04 16.35 11.87 12.99 14.54 14.17 10.80 20.55 26.18 24.12 20.80 25.86 21.91 18.39 14.08 19.47 17.78 11.80 8.58 8.78 -2.51 -15.97 -15.78 -17.29 -21.05 -34.39 -24.31 -26.07 -32.42 -30.66 -11.41 -16.70 -21.64 -24.73 -22.94 -33.72 -40.21 -50.45 -39.51 -51.28 -41.25 -33.91 -16.96 -16.17 2.53 8.93 13.37 0.79 6.92 5.65 - - - - - - - -

Current Ratio

1.5 1.5 1.5 1.5 2.1 2.1 2.2 2.2 2.1 2.1 2.1 2.1 2.0 1.8 - 2.1 2.1 2.2 1.7 1.8 1.7 1.7 1.7 1.7 1.7 1.7 1.7 1.7 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.6 1.6 1.6 1.6 1.7 1.7 1.7 1.7 2.1 2.1 2.1 2.1 0.9 0.9 0.9 0.9 - - - - - - - -

DSO

79.4 69.6 77.4 98.0 - 83.7 86.0 97.9 - 101.3 94.4 110.7 - 46.5 33.1 80.9 70.1 67.7 78.4 85.3 74.3 82.3 88.7 88.8 81.0 92.5 99.4 97.6 79.7 81.4 81.1 94.8 79.3 71.7 82.0 82.9 - 110.6 106.6 103.0 - 103.8 110.9 115.9 - 113.5 109.2 91.5 - 86.4 114.2 58.1 - - - - - - - -

DIO

116.9 120.1 126.3 144.4 - 170.2 189.9 193.0 - 182.3 138.4 179.0 - 65.8 70.5 153.8 - 132.3 129.3 147.0 - 144.1 165.6 162.0 - 171.3 181.2 150.2 - 125.7 124.1 136.3 - 115.7 125.3 103.4 - 106.2 96.8 116.3 - 131.3 143.9 164.9 - 160.7 182.7 171.9 - 179.3 226.6 118.6 - - - - - - - -

DPO

75.5 56.0 45.5 68.5 - 46.1 40.5 48.1 - 60.6 41.7 56.4 - 18.7 16.9 42.1 - 32.6 34.1 34.2 - 33.7 38.8 46.8 - 58.1 61.5 58.8 - 57.5 56.8 66.2 - 59.4 64.4 58.4 - 69.4 63.3 70.2 - 75.4 82.7 82.5 - 69.8 79.4 82.7 - 96.4 121.8 63.8 - - - - - - - -

Operating Cycle

- 189.7 203.8 242.4 - 253.8 275.9 290.9 - 283.6 232.8 289.7 - 112.3 103.6 234.7 70.1 200.0 207.7 232.3 74.3 226.4 254.3 250.8 81.0 263.9 280.6 247.7 79.7 207.1 205.2 231.2 79.3 187.4 207.3 186.3 - 216.8 203.4 219.4 - 235.1 254.8 280.8 - 274.2 291.9 263.3 - 265.7 340.7 176.7 - - - - - - - -

Cash Conversion Cycle

- 133.7 158.2 173.9 - 207.7 235.4 242.8 - 223.1 191.1 233.3 - 93.6 86.7 192.6 70.1 167.4 173.6 198.1 74.3 192.7 215.6 204.0 81.0 205.8 219.1 188.9 79.7 149.6 148.4 165.0 79.3 127.9 142.9 127.9 - 147.4 140.1 149.2 - 159.7 172.1 198.3 - 204.4 212.5 180.6 - 169.3 218.9 113.0 - - - - - - - -

All numbers in USD currency

Multiples are an important financial analysis tool for the company A10 Networks, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.

Advantages of Using Financial Ratios
  • Simplified Data Analysis
    Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition.
  • Comparability Between Companies
    Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations.
  • Identification of Trends and Issues
    Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks.
  • Decision Support
    Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions.
  • Accelerated Assessment of Investment Attractiveness
    Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.

Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.

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