A10 Network (ATEN) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of A10 Network $12.39, price $26.75, upside -53.7%, quality 65 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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A10 Network
ATEN · USStretched ValuationStrong overvaluation with only moderate quality.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $9.65 – $38.11 · fair‑value band $7.74 – $17.27 · the $26.75 price screens above the $12.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Company profile
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.
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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.
Stock analysis
A10 Network (ATEN) currently trades at $26.75, while our model-based Fair Value estimate is $12.39, implying the stock looks roughly 115.9% overvalued today.
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Valuation
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 $26.75 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.
Scenario range: $7.74 (bear) to $17.27 (bull), the price of $26.75 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
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.
Key figures
Market cap $2.7B · P/E ratio 43.9 · P/S ratio 6.36 · EPS (TTM) $0.6100 · Dividend yield 0.9% · Net margin 14.5% · Return on equity 21.4% · Return on assets (EBIT) 10.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
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 30% below its 52-week high and 62% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −19% fair-value upside, at −54%, ATEN screens richer than that median.
Fair Value models
All 26 models by family
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Set up alert →Quality Score breakdown
Of which business quality 65 · Market factors (momentum, volatility) 56
Revenue & earnings trend
Growth Forecast
ATEN screens 116% overvalued. Compare with Microsoft Corporation →
Compare A10 Network with another stock
Price, fair value, quality and upside side by side.
Peer Groupⓘ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.Software - Infrastructure · 377 stocks
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Information Technology sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
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.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $498.00 | $547.80 | +10% |
| Oracle Corporation ORCL | $149.20 | $117.84 | −21% |
| Palantir Technologies Inc PLTR | $184.99 | $43.02 | −77% |
| Palo Alto Networks, Inc PANW | $374.57 | $114.50 | −69% |
| CrowdStrike Holdings CRWD | $250.06 | $35.15 | −86% |
| Fortinet, Inc FTNT | $174.26 | $164.92 | −5% |
| Synopsys, Inc SNPS | $409.24 | $250.04 | −39% |
| Block, Inc XYZ | $77.53 | $101.29 | +31% |
| CoreWeave, Inc CRWV | $86.76 | $71.79 | −17% |
| NetApp, Inc NTAP | $192.91 | $157.18 | −19% |
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Key figures of A10 Network
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