A10 Networks, Inc.

Telecommunications
Computer Communications Equipment
www.a10networks.com

Earnings Score
Moat Score

Market Cap $1.35B
PE 27
Debt $NaN
Cash $78.06M
EV $NaN
FCF $54.48M

Earnings

loading chart...

Sales & Net Margins

loading chart...

Earnings	$49.76M
EBIT	$57.37M
ROE	23%
ROA	14%
FCF	$54.48M
Equity	$217.27M
Growth Stability	75%
PE	27.12
PEG	0.71
PB	6.21
P/FCF	24.77
P/S	5.23
Price/Cash	0.06
Net Margins	17%
Gross Margins	81%
Op. Margins	22%
Earnings CAGR	5%
Sales Growth YoY	15%
Sales Growth QoQ	11%
Sales CAGR	2%
FCF CAGR	19%
Equity CAGR	12%
Earnings Stability	0.04
Earnings Growth YoY	95%
Earnings Growth QoQ	33%

Earnings CAGR 5Y	38%
Sales CAGR 5Y	5%
FCF CAGR 5Y	15%
Equity CAGR 5Y	17%
Earnings CAGR 3Y	-1%
Sales CAGR 3Y	-1%
FCF CAGR 3Y	7%
Equity CAGR 3Y	6%
Market Cap	$1.35B
Revenue	$257.91M
Dividend Yield	1%
Payout Ratio	36%
Assets	$407.75M
Cash	$78.06M
Shares Outstanding	73.78M
Earnings Score	6%
Moat Score	95%
Working Capital	156.8M
Current Ratio	2.23
Gross Profit	$208.11M
Shares Growth 3y	-1%
Equity Growth QoQ	1%
Equity Growth YoY	10%

Assets & ROA

loading chart...

Stockholders Equity & ROE

loading chart...

A10 Networks Inc is a provider of secure application solutions and services that enables a new generation of intelligently connected companies, the ability to continuously improve cyber protection and digital responsiveness across dynamic Information Technology and network infrastructures. Its portfolio consists of six secure application solutions; Thunder Application Delivery Controller, Lightning Application Delivery Controller, Thunder Carrier Grade Networking, Thunder Threat Protection System, Thunder SSL Insight and Thunder Convergent Firewall, and two intelligent management and automation tools; Harmony Controller and aGalaxy TPS. Key revenue is generated from the Americas, with the rest coming from Europe, the Middle East and Africa, plus the Asia Pacific region.

SEC Filings

Direct access to A10 Networks, Inc. (ATEN) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does A10 Networks, Inc. compare to its competitors?

Loading chart...

Peter Lynch's Chart

This chart shows the current pricing of A10 Networks, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 5%

Stability 4%

loading chart...

A10 Networks, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for A10 Networks, Inc..

Years

Calculation mode

= $2.1B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$54M	$65M	$78M	$93M	$111M	$133M	$158M	$189M	$226M	$270M	$322M	$3.2B
DCF		$59M	$64M	$70M	$76M	$82M	$89M	$97M	$105M	$114M	$124M	$1.2B
Value	$2.1B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-20%	-20%	-9%	-5%	-12%	-8%	8%	38%	17%	16%	17%
ROA	-	-20%	-9%	-4%	-11%	-6%	7%	8%	14%	11%	14%
ROE	-	-50%	-24%	-11%	-27%	-16%	15%	45%	26%	19%	23%

Good Net Margins (16.98%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-	-	-	-	-	-
Growth Stability	-	-	-	-	-	-	-	-	100%	75%	75%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (75%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	11%	16%	2%	-1%	-8%	6%	11%	12%	-10%	5%
Earnings YoY growth	-	12%	-48%	-49%	157%	-35%	-200%	433%	-51%	-15%	38%
Equity YoY growth	-	-17%	7%	14%	6%	5%	7%	80%	-13%	15%	17%
FCF YoY growth	-	-100%	-16K%	-38%	-164%	-13%	-1K%	-13%	23%	-39%	15%