Company Valuation: A10 Networks, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,286 1,221 976.4 1,358 1,269 2,006 - -
Change - -5% -20.06% 39.07% -6.56% 58.11% - -
Enterprise Value (EV) 1 1,286 1,221 976.4 1,358 1,269 2,149 2,122 2,086
Change - -5% -20.06% 39.07% -6.56% 69.4% -1.29% -1.71%
P/E 13.9x 27.7x 24.8x 27.5x 31x 44x 37.5x 29.1x
PBR 6.35x 7.14x 4.79x 5.98x 5.98x 7.74x 7.11x 6.44x
PEG - -0.6x -2.1x 1x -2.1x 4.3x 2.2x 1x
Capitalization / Revenue 5.14x 4.36x 3.88x 5.19x 4.37x 6.09x 5.46x 4.9x
EV / Revenue 5.14x 4.36x 3.88x 5.19x 4.37x 6.53x 5.78x 5.09x
EV / EBITDA 20.6x 16.3x 13.7x 18.2x 14.8x 21.2x 18.5x 16.1x
EV / EBIT 24x 18.2x 15.8x 21.5x 17.6x 24.9x 21.4x 18.6x
EV / FCF 28.6x 22.1x 29.7x 17.4x 19.6x 27x 23x -
FCF Yield 3.49% 4.53% 3.37% 5.76% 5.1% 3.7% 4.35% -
Dividend per Share 2 - - - - - 0.246 0.2583 0.2712
Rate of return - - - - - 0.89% 0.93% 0.98%
EPS 2 1.19 0.6 0.53 0.67 0.57 0.6281 0.7359 0.9492
Distribution rate - - - - - 39.2% 35.1% 28.6%
Net sales 1 250 280.3 251.7 261.7 290.6 329.2 367.2 409.7
EBITDA 1 62.39 75.06 71.17 74.53 86.02 101.3 114.8 129.9
EBIT 1 53.48 67.05 61.83 63.24 72.3 86.44 99.31 112.2
Net income 1 94.89 46.91 39.97 50.14 42.14 47.24 55.35 71.22
Net Debt 1 - - - - - 143.2 115.6 79.41
Reference price 2 16.58 16.63 13.17 18.40 17.69 27.63 27.63 27.63
Nbr of stocks (in thousands) 77,550 73,448 74,138 73,799 71,726 72,609 - -
Announcement Date 01/02/22 07/02/23 06/02/24 04/02/25 04/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
43.99x6.53x21.23x - 2.01B
26.27x9.71x15.87x0.75% 3,843B
121.59x53.78x87.57x-.--% 454B
21.42x6.06x10.62x1.4% 431B
255.85x22.84x66.87x-.--% 330B
2700.4x45.28x148.08x-.--% 277B
26.03x5.22x16.46x1.46% 239B
86.99x8.45x22.61x-.--% 139B
58.52x15.77x41.53x-.--% 133B
495.26x21.25x83.97x-.--% 99.54B
Average 383.63x 19.49x 51.48x 0.4% 594.7B
Weighted average by Cap. 180.51x 15.31x 31.84x 0.65%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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