A10 Network (ATEN) Fair Value & Analysis
Technology · US · Market cap $2.7B · ISIN US0021211018
What is A10 Network really worth?
A10 Network
ATEN · US
A solid business, but trading 107% above our fair value of $11.91.
Strengths
Risks
For context
Fair value as of: Aug 31, 2026
From 26 valuation models · updated 5 days ago
Share price −19.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($17.27). The favourable scenario is already priced in.
- Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range ($7.31 to $17.27) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 31, 2026.
How to read this chart
60‑month range $9.18 – $38.11 · fair‑value band $7.31 – $17.27 · the $24.71 price screens above the $11.91 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 31, 2026.
Analysis
A10 Network (ATEN) currently trades at $24.71, while our model-based Fair Value estimate is $11.91, implying the stock looks roughly 107.5% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of $13.74 per share, and 0 of the 26 models we run sit above the $24.71 price. Bear case: the Asset-Based group reads lowest at $1.97, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, A10 Network generated revenue of $299M at a net margin of 14.9%. Revenue grew 13.4% year over year. It earns a return on equity of 21.4%. Net debt stands at $151M. Fundamentals as of Aug 31, 2026
Our scenario range runs from $7.31 (bear case) to $17.27 (bull case); at $24.71, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 25% below its 52-week high and 50% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −32% fair-value upside, at −52%, ATEN screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.2514 per share, which is 2.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Growth Earnings ($13.74) versus Asset-Based ($1.97). Highest evidence: FCF DCF (79).
Notify me when ATEN reaches fair value
Put ATEN on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.
Set up alert →Free, no payment details. Unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 31, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 65 · Market factors (momentum, volatility) 57
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
A10 Networks, Inc. provides secure application and network infrastructure solutions in the United States, the rest of Americas, Japan, rest of the Asia Pacific, Europe, the Middle East, and Africa.
Full company description
A10 Networks, Inc. provides secure application and network infrastructure solutions in the United States, the rest of Americas, Japan, rest of the Asia Pacific, Europe, the Middle East, and Africa. The company offers security products, such as ThreatX, a web application protection platform; A10 Defend DDoS Detector, a network-wide anomaly detection product; A10 Defend DDoS Orchestrator, a defense, orchestration, and management product; A10 Defend DDoS Mitigator, a mitigation product with automation; A10 Defend Threat Control, an attack SaaS platform; and Defend Next-Gen WAF, an integrated application delivery and web application firewall. It also provides infrastructure products, including A10 Thunder ADC, an application delivery controller and load balancer; A10 Thunder CFW, a consolidated network security platform with stateful firewall, IPsec VPN, CGN, ADC, SSLi, and secure web gateway; A10 Thunder CGN, a NAT, IPv4 preservation and IPv6 migration product; and SSL insight in Thunder CFW, a TLS and SSL decryption for real-time visibility into encryption traffic under the SSLi brand. In addition, the company provides centralized management and analytics comprising A10 Control, a centralized, management, control, and analytics platform for agile operations and automation. It serves telecommunications, technology, financial services, public sector, industrial, retail, gaming, and education industries through distribution channels, distributors, value added resellers, and system integrators. The company was incorporated in 2004 and is headquartered in San Jose, California.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
A10 Network reported revenue of $291M in FY2025 versus $250M in FY2021, a compound +3.8%/yr. Reported net income was $42.1M in FY2025, compounding −18.4%/yr from FY2021.
ATEN screens 107% overvalued. Compare with Microsoft Corporation →
Peer Group
Software - Infrastructure · 369 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Software - Infrastructure median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Aug 31, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $480.35 | $365.74 | −24% |
| Oracle Corporation ORCL | $151.94 | $117.84 | −22% |
| Fortinet, Inc FTNT | $166.00 | $61.46 | −63% |
| Synopsys, Inc SNPS | $442.61 | $101.19 | −77% |
| Block, Inc XYZ | A$111.01 | A$70.69 | −36% |
| CoreWeave, Inc CRWV | $105.26 | $71.79 | −32% |
| NetApp, Inc NTAP | $190.64 | $154.83 | −19% |
| Adyen N.V ADYEN | €1,007 | €707.53 | −30% |
| MongoDB, Inc MDB | $440.58 | $93.91 | −79% |
| Okta, Inc OKTA | $166.23 | $30.50 | −82% |
Compare A10 Network with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Technology stocks →
Try a ready-made strategy
Pick a strategy and jump into the live analysis with that exact screen applied.
Discover tools
Frequently asked questions
Is A10 Network (ATEN) overvalued or undervalued?
What is the fair value of ATEN?
What is the quality score of ATEN?
What is the revenue of A10 Network (ATEN)?
What is the net profit margin of ATEN?
Does A10 Network pay a dividend?
Watch A10 Network in the live analysis
One click puts A10 Network on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Watch for free →Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.