ATENNYSEComputer Communications EquipmentFiscal year ends December 31
A10 Networks, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$24.68+0.22 (+0.90%)
Close on Oct 19, 2026
- Market cap
- $1.87B
- P/E (TTM)
- 41.1
- Dividend yield
- 0.97%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
79.3%+1.6 pts over 5 years
Operating margin
16.2%+8.4 pts over 5 years
Net margin
14.5%+6.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +11.0% | +1.2% | +5.2% | +4.0% | |
| Gross profit | +9.6% | +1.0% | +5.6% | +4.5% | |
| Operating income | +7.2% | -3.9% | +21.6% | – | |
| Net income | -16.0% | -3.5% | +18.8% | – | |
| EPS, diluted | -14.9% | -1.7% | +21.0% | – | |
| Free cash flow | -17.2% | +5.4% | +4.6% | – | |
| Dividend per share | 0.0% | 0.0% | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -27.8% | 15.9% | 19.0% | |
| Return on assets | -11.0% | 6.3% | 7.9% | |
| Current ratio | 1.94 | 2.25 | 3.56 | |
| Interest coverage | -48.5× | 17733.0× | 8.0× | |
| Inventory turnover | 3.2× | 2.3× | 3.0× | |
| Capex to revenue | 2.1% | 1.6% | 6.9% | |
| Diluted shares | 66M | 80M | 74M |
Where the cash went
Fiscal 2021 to 2025, five years combined
A10 Networks generated $336.10M from operations and spent $344.55M on capital expenditure, dividends and share buybacks. 17% of that went back into the business.
Generated
$336.10M
Used
$344.55M
Capital expenditure$59.26M17%Dividends$72.79M21%Share buybacks$212.50M62%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin14.5%
×Asset turnover0.55×
×Equity multiplier2.40×
=Return on equity, FY202519.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 14.5% | 0.55× | 2.40× | 19.0% |
| FY2024 | 19.2% | 0.64× | 1.87× | 22.8% |
| FY2023 | 15.9% | 0.66× | 1.95× | 20.6% |
| FY2022 | 16.7% | 0.74× | 1.95× | 24.1% |
| FY2021 | 37.9% | 0.73× | 2.11× | 58.4% |
| FY2020 | 7.9% | 0.80× | 2.51× | 15.9% |
| FY2019 | -8.4% | 0.83× | 2.40× | -16.8% |
| FY2018 | -11.9% | 1.01× | 2.28× | -27.3% |
| FY2017 | -4.6% | 1.07× | 2.44× | -11.9% |
| FY2016 | -9.9% | 1.12× | 2.53× | -27.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$42.14M
- Cash generatingOperating cash flow above zero$84.89M
- Return on assets improvedROA up on the prior year12.9% → 9.7%
- Earnings backed by cashOperating cash flow above net income$84.89M vs $42.14M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.49 → 3.56
- No dilutionShare count did not rise75M → 74M
- Gross margin improvedGross margin up on the prior year80.35% → 79.34%
- More efficientAsset turnover rose0.67 → 0.67