A10 Networks, Inc.

DB:8A0 Stock Report

Market Cap: €1.2b

A10 Networks Valuation

Is 8A0 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 8A0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 8A0 (€15.87) is trading below our estimate of fair value (€22.81)

Significantly Below Fair Value: 8A0 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 8A0?

Key metric: As 8A0 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 8A0. This is calculated by dividing 8A0's market cap by their current earnings.
What is 8A0's PE Ratio?
PE Ratio24.7x
EarningsUS$49.76m
Market CapUS$1.23b

Price to Earnings Ratio vs Peers

How does 8A0's PE Ratio compare to its peers?

The above table shows the PE ratio for 8A0 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20.7x
IXX init innovation in traffic systems
19.4x27.8%€354.6m
IVU IVU Traffic Technologies
20.3xn/a€231.1m
MUM Mensch und Maschine Software
28.1x14.0%€897.2m
TMV TeamViewer
15x11.1%€1.8b
8A0 A10 Networks
24.7x5.8%€1.2b

Price-To-Earnings vs Peers: 8A0 is expensive based on its Price-To-Earnings Ratio (24.7x) compared to the peer average (20.7x).

Price to Earnings Ratio vs Industry

How does 8A0's PE Ratio compare vs other companies in the European Software Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
8A0 24.7xIndustry Avg. 28.1xNo. of Companies19PE020406080100+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 8A0 is good value based on its Price-To-Earnings Ratio (24.7x) compared to the European Software industry average (28.1x).

Price to Earnings Ratio vs Fair Ratio

What is 8A0's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

8A0 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.7x
Fair PE Ratio21.7x

Price-To-Earnings vs Fair Ratio: 8A0 is expensive based on its Price-To-Earnings Ratio (24.7x) compared to the estimated Fair Price-To-Earnings Ratio (21.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 8A0 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€15.87
€19.02
+19.9%
16.3%€22.83€15.22n/a3
Nov ’25€13.23
€15.72
+18.8%
4.8%€16.64€14.80n/a3
Oct ’25€12.66
€15.08
+19.1%
2.9%€15.70€14.78n/a3
Sep ’25€12.36
€15.08
+22.0%
2.9%€15.70€14.78n/a3
Aug ’25€11.88
€15.08
+27.0%
2.9%€15.70€14.78n/a3
Jul ’25€12.59
€15.71
+24.8%
4.8%€16.63€14.79n/a3
Jun ’25€13.85
€15.71
+13.4%
4.8%€16.63€14.79n/a3
May ’25€12.18
€15.28
+25.4%
2.9%€15.90€14.96n/a3
Apr ’25€12.45
€14.85
+19.3%
5.1%€15.78€13.92n/a3
Mar ’25€12.49
€14.85
+18.9%
5.1%€15.78€13.92n/a3
Feb ’25€12.23
€14.11
+15.3%
3.1%€14.72€13.80n/a3
Jan ’25€11.80
€14.32
+21.3%
3.1%€14.94€14.01n/a3
Dec ’24€11.51
€14.32
+24.4%
3.1%€14.94€14.01n/a3
Nov ’24€9.93
€14.53
+46.4%
3.1%€15.17€14.22€13.233
Oct ’24€14.10
€18.84
+33.6%
11.4%€21.88€17.32€12.663
Sep ’24€14.06
€18.84
+34.0%
11.4%€21.88€17.32€12.363
Aug ’24€14.31
€18.84
+31.7%
11.4%€21.88€17.32€11.883
Jul ’24€13.33
€18.78
+40.9%
11.4%€21.81€17.27€12.593
Jun ’24€13.48
€18.78
+39.3%
11.4%€21.81€17.27€13.853
May ’24€12.65
€19.57
+54.7%
9.6%€22.01€17.43€12.183
Apr ’24€14.03
€20.61
+47.0%
5.6%€22.15€19.38€12.453
Mar ’24€14.06
€20.61
+46.6%
5.6%€22.15€19.38€12.493
Feb ’24€14.36
€20.61
+43.6%
5.6%€22.15€19.38€12.233
Jan ’24€15.40
€22.90
+48.7%
5.6%€24.61€21.53€11.803
Dec ’23€17.75
€22.90
+29.0%
5.6%€24.61€21.53€11.513
Nov ’23€17.03
€20.83
+22.3%
3.9%€21.82€19.84€9.933

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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