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ATEN - A10 Networks, Inc.

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A10 Networks, Inc.

ATEN

NYSE

A10 Networks, Inc. provides networking solutions in the Americas, Japan, other Asia Pacific, and EMEA countries. The company offers Thunder Application Delivery Controller (ADC) that provides advanced server load balancing; Lightning ADC, a cloud-native software-as-a-service platform to boost the delivery and security of applications and microservices; and Thunder Carrier Grade Networking product, which offers standards-compliant address and protocol translation services for service provider networks. It also provides Thunder Threat Protection System (TPS) for the protection of networks and server resources against massive distributed denial of service attacks; Thunder Secure Sockets Layer (SSL) Insight solution that decrypts SSL-encrypted traffic and forwards it to a third-party security device for deep packet inspection; and Thunder Convergent Firewall, which addresses various critical security capabilities in one package by consolidating various security and networking functions in a single appliance. In addition, the company offers intelligent management and automation tools comprising harmony controller that provides intelligent management, automation, and analytics for secure application delivery in multi-cloud environment; and aGalaxy TPS, a multi-device network management solution. A10 Networks, Inc. delivers its solutions on optimized hardware appliances, bare metal software, containerized software, virtual appliances, and cloud-native software. It serves cloud providers; service providers include cloud, telecommunications, and multiple system and cable operators; government organizations; and enterprises in the technology, industrial, retail, financial, gaming, and education industries. The company markets its products through sales organizations, as well as distribution channel partners, including distributors, value added resellers, and system integrators. A10 Networks, Inc. was incorporated in 2004 and is headquartered in San Jose, California.

14.93 USD

-0.81 (-5.43%)

Operating Data

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

193.37M

422.49M

278.17M

225.88M

188.87M

203.34M

218.93M

235.7M

253.77M

273.22M

Revenue %

-

118.49

-34.16

-18.8

-16.39

7.66

7.66

7.66

7.66

Ebitda

11.03M

27.87M

-149.48M

-29.76M

-30.3M

-28.73M

-30.94M

-33.31M

-35.86M

-38.61M

Ebitda %

5.7

6.6

-53.74

-13.18

-16.04

-14.13

-14.13

-14.13

-14.13

Ebit

8.59M

15.27M

-166.61M

-46.37M

-49.74M

-40.14M

-43.22M

-46.53M

-50.09M

-53.93M

Ebit %

4.44

3.61

-59.9

-20.53

-26.34

-19.74

-19.74

-19.74

-19.74

Depreciation

2.44M

12.6M

17.13M

16.61M

19.44M

11.4M

12.28M

13.22M

14.23M

15.32M

Depreciation %

1.26

2.98

6.16

7.35

10.29

5.61

5.61

5.61

5.61

Balance Sheet

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Total Cash

177.91M

81.17M

71.91M

64.97M

56.45M

79.6M

85.7M

92.27M

99.34M

106.95M

Total Cash %

92.01

19.21

25.85

28.76

29.89

39.14

39.14

39.14

39.14

Receivables

6.51M

8.18M

9.55M

9.09M

8.42M

7M

7.54M

8.12M

8.74M

9.41M

Receivables %

3.37

1.94

3.43

4.02

4.46

3.44

3.44

3.44

3.44

Inventories

54.02M

105.57M

77.09M

64.91M

40.3M

53.16M

57.23M

61.62M

66.34M

71.42M

Inventories %

27.94

24.99

27.71

28.73

21.34

26.14

26.14

26.14

26.14

Payable

14.62M

17.03M

15.73M

11.67M

8.15M

10.87M

11.7M

12.6M

13.56M

14.6M

Payable %

7.56

4.03

5.65

5.16

4.31

5.35

5.35

5.35

5.35

Cap Ex

-4.43M

-18.74M

-12.9M

-6.7M

-1.98M

-6.25M

-6.73M

-7.25M

-7.8M

-8.4M

Cap Ex %

-2.29

-4.44

-4.64

-2.97

-1.05

-3.07

-3.07

-3.07

-3.07

Weighted Average Cost Of Capital

Price

0.96

Beta

Diluted Shares Outstanding

60.18M

Costof Debt

3.72

Tax Rate

After Tax Cost Of Debt

3.71

Risk Free Rate

Market Risk Premium

Cost Of Equity

Total Debt

37.03M

Total Equity

57.77M

Total Capital

94.81M

Debt Weighting

39.06

Equity Weighting

60.94

Wacc

13.45

Build Up Free Cash Flow

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

193.37M

422.49M

278.17M

225.88M

188.87M

203.34M

218.93M

235.7M

253.77M

273.22M

Ebitda

11.03M

27.87M

-149.48M

-29.76M

-30.3M

-28.73M

-30.94M

-33.31M

-35.86M

-38.61M

Ebit

8.59M

15.27M

-166.61M

-46.37M

-49.74M

-40.14M

-43.22M

-46.53M

-50.09M

-53.93M

Tax Rate

0.32

0.32

0.32

0.32

0.32

0.32

0.32

0.32

0.32

0.32

Ebiat

5.34M

12.82M

-163.73M

-46.4M

-49.58M

-35.64M

-38.38M

-41.32M

-44.48M

-47.89M

Depreciation

2.44M

12.6M

17.13M

16.61M

19.44M

11.4M

12.28M

13.22M

14.23M

15.32M

Receivables

6.51M

8.18M

9.55M

9.09M

8.42M

7M

7.54M

8.12M

8.74M

9.41M

Inventories

54.02M

105.57M

77.09M

64.91M

40.3M

53.16M

57.23M

61.62M

66.34M

71.42M

Payable

14.62M

17.03M

15.73M

11.67M

8.15M

10.87M

11.7M

12.6M

13.56M

14.6M

Cap Ex

-4.43M

-18.74M

-12.9M

-6.7M

-1.98M

-6.25M

-6.73M

-7.25M

-7.8M

-8.4M

Ufcf

-42.57M

-44.12M

-133.68M

-27.9M

-10.36M

-39.22M

-36.61M

-39.41M

-42.43M

-45.69M

Wacc

13.45

13.45

13.45

13.45

13.45

Pv Ufcf

-34.57M

-28.44M

-26.99M

-25.61M

-24.31M

Sum Pv Ufcf

-139.93M

Terminal Value

Growth In Perpetuity Method

Long Term Growth Rate

Wacc

13.45

Free Cash Flow T1

-46.6M

Terminal Value

-407.01M

Present Terminal Value

-216.57M

Intrinsic Value

Enterprise Value

-356.5M

Net Debt

9.56M

Equity Value

-366.06M

Diluted Shares Outstanding

60.18M

Equity Value Per Share

-6.08

Projected DCF

-6.08 1.158%

DCF Levered

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