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A10 NetworksATEN +1.59%84 Intrinsic Value: Projected FCF is $12.08 as of Sep. 21, 2026. GuruFocus rates ATEN with a GF Score™ of 84/100 and a GF Value™ of $20.03 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 1,474 Software companies, A10 Networks ranks worse than 64.93% on this metric.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
As of today (2026-09-21), A10 Networks's Intrinsic Value: Projected FCF is $12.08. The stock price of A10 Networks is $26.565. Therefore, A10 Networks's Price-to-Intrinsic-Value-Projected-FCF of today is 2.2.
The historical rank and industry rank for A10 Networks's Intrinsic Value: Projected FCF or its related term are showing as below:
ATEN'
s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 1.34 Med: 3.34 Max: 608
Current: 2.2
During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of A10 Networks was 608.00. The lowest was 1.34. And the median was 3.34.
ATEN's Price-to-Projected-FCF is ranked worse than 64.93% of 1474
companies
in the Software industry
Industry Median: 1.41
vs ATEN: 2.20
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
A10 Networks's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF
=
Share Price
/
Intrinsic Value: Projected FCF
=
26.565
/
13.039207680155
=
2.04
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A10 Networks Intrinsic Value: Projected FCF Related Terms
A10 Networks Intrinsic Value: Projected FCF Historical Data
* Premium members only.
The historical data trend for A10 Networks's Intrinsic Value: Projected FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ATEN vs GCT, PRGS, PGY: Intrinsic Value: Projected FCF Comparison
For the Software - Infrastructure subindustry, A10 Networks's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
A10 Networks Price-to-Projected-FCF vs Software Industry
For the Software industry and Technology sector, A10 Networks's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where A10 Networks's Price-to-Projected-FCF falls into.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Intrinsic Value: Projected FCF of $12.08 mean?
A10 Networks (ATEN) has a Intrinsic Value: Projected FCF of $12.08 as of Sep. 21, 2026. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on A10 Networks and its competitors. According to the industry distribution chart, A10 Networks ranks #957 out of 1474 companies in the Software industry, placing it in the top 64.9%.
Is A10 Networks' Intrinsic Value: Projected FCF too high?
A10 Networks' current Intrinsic Value: Projected FCF is $12.08. The Software industry median Intrinsic Value: Projected FCF is 1.41. A10 Networks' value of $12.08 is 756.7% above this industry median. Based on the distribution chart, A10 Networks ranks #957 out of 1474 companies in the Software industry, which is below the industry midpoint. Overall, A10 Networks has a GF Score™ of 84/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does A10 Networks' Intrinsic Value: Projected FCF compare to GCT and PRGS?
According to the Software industry distribution chart, A10 Networks ranks #957 out of 1474 companies for Intrinsic Value: Projected FCF. This places A10 Networks in the lower half of its industry. The industry median Intrinsic Value: Projected FCF is 1.41. A10 Networks' value of $12.08 is 756.7% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intrinsic Value: Projected FCF for a Software company?
The median Intrinsic Value: Projected FCF among Software companies is 1.41, based on 1,474 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: Projected FCF significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: Projected FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. A10 Networks's current Intrinsic Value: Projected FCF of $12.08 is 756.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Intrinsic Value: Projected FCF mean?
A high Intrinsic Value: Projected FCF can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on A10 Networks and its competitors. For the Software industry, the median Intrinsic Value: Projected FCF is 1.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. A10 Networks's current Intrinsic Value: Projected FCF is $12.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is A10 Networks stock overvalued right now?
Based on GuruFocus' analysis, A10 Networks (ATEN) is currently considered Significantly Overvalued. The stock's GF Value™ is $20.03, compared to a current price of $26.57 — trading 32.6% above its estimated fair value. The current Intrinsic Value: Projected FCF is $12.08 and 756.7% above the Software industry median of 1.41. A10 Networks' overall GF Score™ is 84/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Intrinsic Value: Projected FCF calculated?
Intrinsic Value: Projected FCF is calculated from a company's financial statements. For A10 Networks (ATEN), the current Intrinsic Value: Projected FCF is $12.08 as of Sep. 21, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is A10 Networks (ATEN) Overvalued in 2026?
Based on GuruFocus' analysis, A10 Networks stock appears to be overvalued.
The current stock price of $26.57 is trading 32.6% above its estimated GF Value™ of $20.03.
GuruFocus considers A10 Networks to be Significantly Overvalued.
Key valuation signals for ATEN:
Intrinsic Value: Projected FCF: $12.08
GF Value™: $20.03 vs. price of $26.57 (32.6% above fair value)
Industry Position: 756.7% above the Software median (#957 of 1474)
No single metric tells the full story. See the ATEN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
A10 Networks Inc is a provider of secure application and network infrastructure solutions for enterprises and service providers across on-premises, hybrid cloud, and distributed environments. The company's offerings include application delivery and traffic management, distributed denial-of-service (DDoS) protection, application and API security, and centralized management. It serves customers across multiple industries, including telecommunications, technology, financial services, public sector, industrial, retail, gaming, and education. The majority of the company's revenue is derived from the sale of secure networking and cybersecurity solutions and related maintenance and support services.
84GF Score
Get the complete analysis for ATEN
Intrinsic Value: Projected FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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