NYSE: ATEN · Infrastructure Software
A10 Networks (ATEN) fair value: undervalued or overvalued?
As of 26 Sep 2026, Faircurve's model values A10 Networks (ATEN) at $23.12 a share. The stock last closed at $27.63, which puts the model's fair value 16.3% below the price. On the model's bands that reads as Overvalued.
Revalued . Price is the close of 2 Oct 2026. A10 Networks, Inc.
Faircurve Insights · 26 Sep 2026
A10 Networks, Inc. delivers networking solutions across global markets, including North and South America, Japan, the broader Asia Pacific region, and Europe, the Middle East, and Africa (EMEA).
Faircurve's model valued A10 Networks, Inc. at $23.12 a share on 26 Sep 2026, the midpoint of 2,000 simulations. This fair value moved -1.2% from the previous run on 19 Sep 2026, which gave $23.41. The calibrated range over 63 trading days is $19.40 to $28.19, built from the fair value, and held the price 60% of the time at this horizon. The model's evidence grade is High.
The overall quality score for the business is 66 out of 100 against comparable companies. The model compares it with Progress Software Corporation (PRGS), LiveRamp Holdings, Inc. (RAMP), Payoneer Global Inc. (PAYO), Euronet Worldwide, Inc. (EEFT), Teradata Corporation (TDC), and NetScout Systems, Inc. (NTCT). The stock has moved around its last 8 earnings reports by a median size of 6.0%, ignoring direction.
Written from the figures on this page for the 26 Sep 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
What price range does the model give ATEN?
The calibrated range for ATEN over 63 trading days is $19.40 to $28.19. There is no live options data for this stock, so the range is built from the fair value and calibrated weekly against realised prices (n = 4,327 past valuations, refreshed 26 Sep 2026). Ranges built this way held the price 60% of the time at this horizon.
The model's own simulated range, from the 20th to the 80th percentile of its runs, is $17.55 to $29.75. In 36% of the simulations the fair value came out above the price the model ran on.
How does ATEN score on business quality?
A10 Networks's overall quality score is 66 out of 100. Each factor below is a score against comparable companies, not a percentile of the metric beside it.
| Factor | Score (0 to 100) | Headline measure | Peer median |
|---|---|---|---|
| ProfitabilityReturn on invested capital against the peer group, with a bonus for an improving trend. | 83 | 10.0%ROIC | 2.1% |
| Earnings qualityHow much of reported profit is cash: free cash flow to net income, and the accrual ratio (the share of earnings that is not cash). | 68 | 1.42xFCF / net income | 1.54x |
| Growth qualityTrailing revenue growth, forward growth from consensus, and the direction of analyst estimate revisions. | 63 | 11.0%Revenue growth, trailing | 9.8% |
| Capital disciplineReinvestment efficiency (capital spending per unit of revenue) and net buybacks. | 29 | 1.2%Net buybacks / market value | 0.8% |
| Balance sheetNet debt to EBITDA and interest coverage. | 33 | 2.43xNet debt / EBITDA | 1.48x |
| StabilityDownside volatility of the EBITDA margin over the last five years. | 86 | 2.5 ptsEBITDA margin downside volatility, 5y | 3.3 pts |
How does ATEN compare with similar companies?
The companies in infrastructure software closest to A10 Networks in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| PRGS Progress Software Corporation | $36.90 | $46.74 | +26.7% | Undervalued |
| RAMP LiveRamp Holdings, Inc. | $37.65 | $50.24 | +33.4% | Undervalued |
| PAYO Payoneer Global Inc. | $7.15 | $6.22 | -13.0% | Fairly valued |
| EEFT Euronet Worldwide, Inc. | $63.50 | $88.49 | +39.4% | Undervalued |
| TDC Teradata Corporation | $30.14 | $32.58 | +8.1% | Fairly valued |
| NTCT NetScout Systems, Inc. | $40.96 | $40.10 | -2.1% | Fairly valued |
| FOUR Shift4 Payments, Inc. | $36.17 | $44.74 | +23.7% | Low evidence grade |
| SABR Sabre Corporation | $1.97 | $1.53 | -22.3% | Low evidence grade |
All infrastructure software stocks ranked by gap to fair value
When does ATEN report earnings, and how has the stock reacted?
A10 Networks's next earnings report is scheduled for 3 Nov 2026. Companies can move their dates.
How ATEN moved around its last 8 earnings reports
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across these 8 reports, ignoring direction, was 6.0%.
| Report date | Two session move |
|---|---|
| 5 Aug 2026 | -10.1% |
| 28 Apr 2026 | -3.8% |
| 4 Feb 2026 | +11.9% |
| 4 Nov 2025 | +0.9% |
| 5 Aug 2025 | +3.0% |
| 1 May 2025 | +12.7% |
| 4 Feb 2025 | +5.7% |
| 7 Nov 2024 | +6.3% |
A10 Networks at a glance
A10 Networks, Inc. delivers networking solutions across global markets, including North and South America, Japan, the broader Asia Pacific region, and Europe, the Middle East, and Africa (EMEA).
- Market value
- $1.9B
- Sector
- Technology
- Industry
- Infrastructure Software
- Revenue expected, next twelve months
- $358M
- Consensus revenue growth, next fiscal year
- +13.4%
- Analysts with estimates
- 4
- Beta to the US market
- 1.00
- First valued by Faircurve
- 11 Jul 2026
How the fair value is worked out: the model prices A10 Networks on the value of the whole business, debt included, against the operating profit analysts expect next year (forward EV/EBITDA), runs 2,000 simulations across its inputs and takes the midpoint. The full method is documented here.
What changed in the latest valuation?
On 19 Sep 2026 the model's fair value for ATEN was $23.41. As of 26 Sep 2026 it is $23.12, a change of -1.2%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about A10 Networks's valuation
Is A10 Networks stock undervalued or overvalued?
On Faircurve's model, ATEN reads as Overvalued as of 26 Sep 2026. The model's fair value is $23.12 a share against a last close of $27.63, a gap of -16.3%.
What is ATEN's fair value?
$23.12 a share as of 26 Sep 2026, the midpoint of 2,000 simulations. The model's own 20th to 80th percentile range is $17.55 to $29.75.
What price range does the model give ATEN?
$19.40 to $28.19 over 63 trading days. Ranges built this way held the price 60% of the time across 4,327 past valuations, refreshed 26 Sep 2026.
When does A10 Networks report earnings next?
The next report is scheduled for 3 Nov 2026. Companies can move their dates.
How much has ATEN moved on past earnings reports?
Across its last 8 reports the median two session move was 6.0%, ignoring direction. The largest was +12.7% around the report of 1 May 2025.
How confident is the model in this valuation?
The model's evidence grade for ATEN is high. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It is not a probability that the fair value is right, or that the price reaches it.