Stocks · Technology · Software - Infrastructure
A10 Networks, Inc. ATEN
$27.63 +0.11% Close, Oct 2, 2026 · NYSE · Market cap $1.99B
Next earnings report: Nov 3, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- At 46.0× trailing earnings, the shares trade at the highest P/E of the company's past five years.
- Earnings beat analyst estimates in each of the last 8 quarters (average surprise over the last four: +7.9%).
- Revenue over the last four quarters was $310.2M, up 12.2% from a year earlier.
PromtFinance scores
Each score is a percentile within the Technology sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 50%
- EPS growth (TTM, YoY)Bottom 30%
- FCF growth (TTM, YoY)Bottom 24%
- Revenue growth, 3-year CAGRBottom 34%
- Revenue growth accelerationBottom 46%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 35%
- Gross marginTop 11%
- Operating marginTop 22%
- Cash conversion (OCF / net income)Top 47%
- Accruals (lower is better)Bottom 40%
- Net debt / EBITDA (lower is better)Bottom 26%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 37%
- Free-cash-flow yieldTop 46%
- EBITDA / enterprise valueTop 49%
- Sales / enterprise valueBottom 33%
- P/E vs own 5-year history (lower is better)Bottom 4%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 28%
- 6-month returnBottom 42%
- 1-year return vs S&P 500Top 26%
- Distance from 52-week highTop 47%
- Trend checklist (0–4)Top 18%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 49%
- Consecutive EPS beatsTop 25%
- Share of analysts rating BuyBottom 32%
- Upside to consensus price targetTop 45%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 31%
- Maximum drawdown, 3 yearsTop 8%
- Beta vs S&P 500 (lower is better)Top 20%
- Net debt / EBITDA (lower is better)Bottom 26%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 12.1% | 12.2% | ↑ |
| EPS growth (YoY) | -7.5% | -11.8% | ↓ |
| Gross margin | 79.7% | 79.5% | ↓ |
| Operating margin | 17.3% | 16.3% | ↓ |
| FCF margin | 25.6% | 19.6% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 12.2% | 12.1% | ↑ | Bottom 50% |
| EPS growth (TTM, YoY) | -11.8% | -7.5% | ↓ | Bottom 30% |
| Gross margin | 79.5% | 79.7% | ↓ | Top 11% |
| Operating margin | 16.3% | 17.3% | ↓ | Top 22% |
| Net margin | 13.9% | 18.5% | ↓ | — |
| Free-cash-flow margin | 19.6% | 25.6% | ↓ | — |
| Return on invested capital | 7.7% | — | Top 35% | |
| Revenue growth, 3-year CAGR | 1.2% | — | Bottom 34% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 1.79×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -5.0%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 7.5%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +25.8 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 2.43×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.87%
- Net buyback yield (TTM)
- 0.98%
- Shareholder yield
- 1.84%
- Share count change, 1 year
- +3.5%
- Share count change, 3-year CAGR
- +0.1%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 6, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 8
- Beats in the last 8 reports
- 8 of 8
- Average EPS surprise, last 4
- +7.9%
- Average 2-day reaction, last 8
- +0.4%
- Positive 20 days after report
- 5 of 8
Analysts
- Consensus price target
- $36.00
- Target vs current price
- +30.3%
- Analysts with a rating
- 21
- Share rating Buy or Strong Buy
- 52%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 5, 2026 | +3.7% | +0.5% | -11.5% | -18.7% | — |
| Apr 28, 2026 | +9.1% | +1.6% | -2.3% | +6.8% | +25.2% |
| Feb 4, 2026 | +9.4% | +1.4% | +21.1% | +19.7% | +54.5% |
| Nov 4, 2025 | +9.5% | -2.5% | -4.2% | -3.5% | -2.9% |
| Aug 5, 2025 | +5.0% | -2.1% | -5.7% | -4.6% | -0.1% |
| May 1, 2025 | +5.3% | -0.1% | +2.7% | +4.1% | +12.4% |
| Feb 4, 2025 | +40.9% | +2.9% | +4.3% | +2.2% | -16.3% |
| Nov 7, 2024 | +10.5% | +1.4% | +8.4% | +18.9% | +36.7% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 5, 2026 | $0.25 | $0.24 | +3.7% | $80.1M |
| Apr 28, 2026 | $0.24 | $0.22 | +9.1% | $75.0M |
| Feb 4, 2026 | $0.26 | $0.24 | +9.4% | $80.4M |
| Nov 4, 2025 | $0.23 | $0.21 | +9.5% | $74.7M |
| Aug 5, 2025 | $0.21 | $0.20 | +5.0% | $69.4M |
| May 1, 2025 | $0.20 | $0.19 | +5.3% | $66.1M |
| Feb 4, 2025 | $0.31 | $0.22 | +40.9% | $74.2M |
| Nov 7, 2024 | $0.21 | $0.19 | +10.5% | $66.7M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 46.0× | 25.4× | 100th | Top 37% |
| P/E (forward) | 26.5× | — | — | — |
| EV / EBITDA | 31.7× | — | — | Top 49% |
| EV / Sales | 6.94× | — | — | Bottom 33% |
| Free-cash-flow yield | 3.06% | — | — | Top 46% |
| Earnings yield | 2.17% | — | — | Top 37% |
P/E over the past five years
Range 11.2× – 46.0× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +51.1%
- Earnings per share growth (TTM)
- -11.8%
- Change in P/E multiple
- +75.8%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✓ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 2
- Days above the 200-day average
- 15
- 50-day average slope (20 days)
- -13.3%
- 200-day average slope (20 days)
- +3.5%
- Distance from 50-day average
- +2.2%
- Distance from 200-day average
- +7.7%
- RSI (14)
- 58.0
- Relative volume
- 0.87×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 48.4%
- Volatility vs own 5-year history
- 78th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.95
- Correlation with S&P 500
- 0.42
- Current drawdown from 1-year high
- -27.5%
- Maximum drawdown, 3 years
- -36.0%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Dec 8, 2022 | Nov 1, 2023 | -44.6% | 225 days | 306 days (Jan 23, 2025) |
| Jul 9, 2026 | Sep 10, 2026 | -36.0% | 44 days | Not yet recovered |
| Oct 29, 2021 | Mar 14, 2022 | -32.9% | 92 days | 166 days (Nov 8, 2022) |
| Feb 13, 2025 | Apr 8, 2025 | -31.3% | 37 days | 237 days (Mar 19, 2026) |
| Feb 9, 2021 | May 3, 2021 | -26.3% | 57 days | 45 days (Jul 7, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $1.99B
- P/E (TTM)
- 46.0
- EPS, diluted (TTM)
- $0.60
- Revenue (TTM)
- $310.2M
- Dividend yield
- 0.87%
- 52-week range
- $16.52 – $38.49
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $250.0M | $280.3M | $251.7M | $261.7M | $290.6M |
| Gross profit | $196.5M | $223.5M | $203.7M | $210.3M | $230.5M |
| Operating income | $33.4M | $53.1M | $38.6M | $44.0M | $47.1M |
| Net income | $94.9M | $46.9M | $40.0M | $50.1M | $42.1M |
| EPS (diluted) | $1.19 | $0.60 | $0.53 | $0.67 | $0.57 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $66.7M | $74.2M | $66.1M | $69.4M | $74.7M | $80.4M | $75.0M | $80.1M |
| Net income | $12.6M | $18.3M | $9.5M | $10.5M | $12.2M | $9.9M | $12.0M | $8.9M |
| EPS (diluted) | $0.17 | $0.24 | $0.13 | $0.14 | $0.17 | $0.14 | $0.17 | $0.12 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $50.1M | $66.1M | $44.5M | $90.5M | $84.9M |
| Capital expenditure | -$5.2M | -$10.8M | -$10.9M | -$12.3M | -$20.1M |
| Free cash flow | $44.9M | $55.3M | $33.6M | $78.2M | $64.8M |
| Dividends paid | -$3.9M | -$15.9M | -$17.8M | -$17.8M | -$17.4M |
| Net share buybacks | -$18.3M | -$79.3M | -$16.0M | -$30.1M | -$65.5M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $357.3M
- Total assets
- $677.7M
- Total liabilities
- $439.7M
- Total debt
- $219.5M
- Net debt
- $164.8M
- Shareholders’ equity
- $238.0M
As of Jun 30, 2026 (filed Aug 6, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Aug 17, 2026 | $0.06 | Sep 1, 2026 |
| May 15, 2026 | $0.06 | Jun 1, 2026 |
| Feb 13, 2026 | $0.06 | Mar 2, 2026 |
| Nov 17, 2025 | $0.06 | Dec 1, 2025 |
| Aug 15, 2025 | $0.06 | Sep 2, 2025 |
| May 15, 2025 | $0.06 | Jun 2, 2025 |
| Feb 14, 2025 | $0.06 | Mar 3, 2025 |
| Nov 18, 2024 | $0.06 | Dec 2, 2024 |
Short interest
- Shares sold short
- 9,713,373
- Days to cover
- 9.88
- Change vs previous report
- +8.6%
FINRA short interest, settlement date Sep 15, 2026.