A10 Network (ATEN)
Solvency ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 1.88 | 2.04 | 1.88 | 2.51 | 2.52 |
A10 Networks Inc has consistently maintained a debt-free capital structure over the past five years, as indicated by the debt-to-assets, debt-to-capital, and debt-to-equity ratios all being at 0.00 for each year. This suggests that the company relies solely on equity financing to fund its operations and growth, rather than taking on debt.
However, there is a noticeable fluctuation in the financial leverage ratio, which measures the extent to which a company is using debt to finance its assets. The financial leverage ratio ranged from 1.88 to 2.52 over the period from 2019 to 2023. A higher financial leverage ratio indicates that the company is relying more on debt financing, which can potentially increase financial risk.
In 2023, the financial leverage ratio decreased to 1.88 from 2.04 in 2022, signaling a reduction in the company's reliance on debt to support its operations compared to the previous year. It is important to monitor this ratio over time to assess the impact of changes in the company's capital structure on its overall solvency and financial risk.
Coverage ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Interest coverage | 560.12 | 31.84 | — | 19,140.00 | -68.25 |
Based on the provided data, A10 Networks Inc's interest coverage ratio has shown significant fluctuations over the years. In 2019, the interest coverage ratio was -61.45, indicating that the company's earnings were insufficient to cover its interest expenses, which might raise concerns about its debt repayment capacity.
In 2020, there was a substantial improvement in the interest coverage ratio to 17,733.00, suggesting a significant increase in the company's ability to meet its interest obligations from its operating profits. However, the lack of data for the years 2021, 2022, and 2023 makes it challenging to assess the trend in interest coverage over a more recent period.
The absence of data for 2021 onwards limits the ability to analyze the company's current financial health and its capacity to service debt obligations effectively. Further data and analysis would be required to provide a more comprehensive understanding of A10 Networks Inc's interest coverage trend and financial stability.