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A10 Networks, Inc.（ATEN）与F5, Inc.（FFIV）财务数据对比。点击上方公司名可切换其他公司
F5, Inc.的季度营收约是A10 Networks, Inc.的10.2倍（$822.5M vs $80.4M）。F5, Inc.净利率更高（21.9% vs 12.3%，领先9.6%）。A10 Networks, Inc.同比增速更快（8.3% vs 7.3%）。F5, Inc.自由现金流更多（$149.5M vs $16.0M）。过去两年A10 Networks, Inc.的营收复合增速更高（15.1% vs 9.9%）
A10 Networks是一家美国公开上市科技企业，2004年由前Foundry Networks联合创始人陈岚创立，核心业务为研发制造应用交付控制器。企业最初依托ID系列产品专注身份管理领域，2007年初新增带宽管理设备业务，2014年完成首次公开募股，募资1.875亿美元。
F5, Inc.是一家美国科技企业，专注于应用安全、多云管理、线上反欺诈、应用交付网络（ADN）相关业务，同时提供应用可用性与性能优化、网络安全、访问授权管理等产品及解决方案，助力各行业客户保障数字化业务稳定运营，提升运行效率。
ATEN vs FFIV — 直观对比
营收规模更大
FFIV
是对方的10.2倍
$80.4M
营收增速更快
ATEN
高出1.0%
7.3%
净利率更高
FFIV
高出9.6%
12.3%
自由现金流更多
FFIV
多$133.4M
$16.0M
两年增速更快
ATEN
近两年复合增速
9.9%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $80.4M | $822.5M |
| 净利润 | $9.9M | $180.1M |
| 毛利率 | 78.7% | 81.5% |
| 营业利润率 | 18.7% | 26.0% |
| 净利率 | 12.3% | 21.9% |
| 营收同比 | 8.3% | 7.3% |
| 净利润同比 | -46.1% | 8.2% |
| 每股收益（稀释后） | $0.13 | $3.10 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ATENFFIV
| Q4 25 | $80.4M | $822.5M | ||
| Q3 25 | $74.7M | $810.1M | ||
| Q2 25 | $69.4M | $780.4M | ||
| Q1 25 | $66.1M | $731.1M | ||
| Q4 24 | $74.2M | $766.5M | ||
| Q3 24 | $66.7M | $746.7M | ||
| Q2 24 | $60.1M | $695.5M | ||
| Q1 24 | $60.7M | $681.4M |
净利润ATENFFIV
| Q4 25 | $9.9M | $180.1M | ||
| Q3 25 | $12.2M | $190.5M | ||
| Q2 25 | $10.5M | $189.9M | ||
| Q1 25 | $9.5M | $145.5M | ||
| Q4 24 | $18.3M | $166.4M | ||
| Q3 24 | $12.6M | $165.3M | ||
| Q2 24 | $9.5M | $144.1M | ||
| Q1 24 | $9.7M | $119.0M |
毛利率ATENFFIV
| Q4 25 | 78.7% | 81.5% | ||
| Q3 25 | 80.1% | 82.2% | ||
| Q2 25 | 78.9% | 81.0% | ||
| Q1 25 | 79.7% | 80.7% | ||
| Q4 24 | 79.9% | 81.7% | ||
| Q3 24 | 80.5% | 80.8% | ||
| Q2 24 | 80.0% | 80.4% | ||
| Q1 24 | 81.1% | 79.3% |
营业利润率ATENFFIV
| Q4 25 | 18.7% | 26.0% | ||
| Q3 25 | 17.4% | 25.4% | ||
| Q2 25 | 14.9% | 25.2% | ||
| Q1 25 | 13.3% | 21.7% | ||
| Q4 24 | 24.8% | 26.8% | ||
| Q3 24 | 15.7% | 25.6% | ||
| Q2 24 | 13.2% | 23.4% | ||
| Q1 24 | 11.9% | 20.5% |
净利率ATENFFIV
| Q4 25 | 12.3% | 21.9% | ||
| Q3 25 | 16.3% | 23.5% | ||
| Q2 25 | 15.2% | 24.3% | ||
| Q1 25 | 14.4% | 19.9% | ||
| Q4 24 | 24.7% | 21.7% | ||
| Q3 24 | 18.9% | 22.1% | ||
| Q2 24 | 15.8% | 20.7% | ||
| Q1 24 | 16.0% | 17.5% |
每股收益（稀释后）ATENFFIV
| Q4 25 | $0.13 | $3.10 | ||
| Q3 25 | $0.17 | $3.25 | ||
| Q2 25 | $0.14 | $3.25 | ||
| Q1 25 | $0.13 | $2.48 | ||
| Q4 24 | $0.24 | $2.82 | ||
| Q3 24 | $0.17 | $2.79 | ||
| Q2 24 | $0.13 | $2.44 | ||
| Q1 24 | $0.13 | $2.00 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $684.6M | $1.2B |
| 总债务越低越好 | $218.8M | — |
| 股东权益账面价值 | $211.5M | $3.5B |
| 总资产 | $629.8M | $6.3B |
| 负债/权益比越低杠杆越低 | 1.03× | — |
8季度趋势，按日历期对齐
现金及短期投资ATENFFIV
| Q4 25 | $684.6M | $1.2B | ||
| Q3 25 | $370.9M | $1.3B | ||
| Q2 25 | $367.4M | $1.4B | ||
| Q1 25 | $355.8M | $1.3B | ||
| Q4 24 | $195.6M | $1.2B | ||
| Q3 24 | $182.1M | $1.1B | ||
| Q2 24 | $177.1M | $935.6M | ||
| Q1 24 | $182.1M | $903.5M |
总债务ATENFFIV
| Q4 25 | $218.8M | — | ||
| Q3 25 | $218.4M | — | ||
| Q2 25 | $218.1M | — | ||
| Q1 25 | $217.7M | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ATENFFIV
| Q4 25 | $211.5M | $3.5B | ||
| Q3 25 | $206.2M | $3.6B | ||
| Q2 25 | $204.0M | $3.5B | ||
| Q1 25 | $195.9M | $3.3B | ||
| Q4 24 | $231.8M | $3.2B | ||
| Q3 24 | $217.3M | $3.1B | ||
| Q2 24 | $214.4M | $3.0B | ||
| Q1 24 | $214.3M | $2.9B |
总资产ATENFFIV
| Q4 25 | $629.8M | $6.3B | ||
| Q3 25 | $620.1M | $6.3B | ||
| Q2 25 | $607.9M | $6.1B | ||
| Q1 25 | $606.2M | $5.9B | ||
| Q4 24 | $432.8M | $5.9B | ||
| Q3 24 | $407.7M | $5.6B | ||
| Q2 24 | $397.2M | $5.4B | ||
| Q1 24 | $395.7M | $5.4B |
负债/权益比ATENFFIV
| Q4 25 | 1.03× | — | ||
| Q3 25 | 1.06× | — | ||
| Q2 25 | 1.07× | — | ||
| Q1 25 | 1.11× | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $22.7M | $159.2M |
| 自由现金流经营现金流 - 资本支出 | $16.0M | $149.5M |
| 自由现金流率自由现金流/营收 | 20.0% | 18.2% |
| 资本支出强度资本支出/营收 | 8.3% | 1.2% |
| 现金转化率经营现金流/净利润 | 2.30× | 0.88× |
| 过去12个月自由现金流最近4个季度 | $64.8M | $861.2M |
8季度趋势，按日历期对齐
经营现金流ATENFFIV
| Q4 25 | $22.7M | $159.2M | ||
| Q3 25 | $22.8M | $208.1M | ||
| Q2 25 | $22.2M | $282.2M | ||
| Q1 25 | $17.2M | $256.6M | ||
| Q4 24 | $25.7M | $202.8M | ||
| Q3 24 | $20.1M | $246.5M | ||
| Q2 24 | $12.2M | $159.0M | ||
| Q1 24 | $32.4M | $221.6M |
自由现金流ATENFFIV
| Q4 25 | $16.0M | $149.5M | ||
| Q3 25 | $18.1M | $191.9M | ||
| Q2 25 | $17.9M | $273.7M | ||
| Q1 25 | $12.7M | $246.1M | ||
| Q4 24 | $23.3M | $194.7M | ||
| Q3 24 | $16.7M | $240.4M | ||
| Q2 24 | $8.7M | $153.1M | ||
| Q1 24 | $29.5M | $212.2M |
自由现金流率ATENFFIV
| Q4 25 | 20.0% | 18.2% | ||
| Q3 25 | 24.2% | 23.7% | ||
| Q2 25 | 25.9% | 35.1% | ||
| Q1 25 | 19.2% | 33.7% | ||
| Q4 24 | 31.4% | 25.4% | ||
| Q3 24 | 25.0% | 32.2% | ||
| Q2 24 | 14.5% | 22.0% | ||
| Q1 24 | 48.7% | 31.1% |
资本支出强度ATENFFIV
| Q4 25 | 8.3% | 1.2% | ||
| Q3 25 | 6.3% | 2.0% | ||
| Q2 25 | 6.1% | 1.1% | ||
| Q1 25 | 6.8% | 1.4% | ||
| Q4 24 | 3.2% | 1.1% | ||
| Q3 24 | 5.2% | 0.8% | ||
| Q2 24 | 5.8% | 0.8% | ||
| Q1 24 | 4.8% | 1.4% |
现金转化率ATENFFIV
| Q4 25 | 2.30× | 0.88× | ||
| Q3 25 | 1.87× | 1.09× | ||
| Q2 25 | 2.10× | 1.49× | ||
| Q1 25 | 1.80× | 1.76× | ||
| Q4 24 | 1.40× | 1.22× | ||
| Q3 24 | 1.59× | 1.49× | ||
| Q2 24 | 1.29× | 1.10× | ||
| Q1 24 | 3.34× | 1.86× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ATEN
| Products | $48.8M | 61% |
| Services | $31.5M | 39% |
FFIV
| Services | $412.2M | 50% |
| Products | $410.3M | 50% |
