Technology · Packaged Software

Palo Alto Networks, Inc.

NASDAQPANW ISINUS6974351057 SEC CIK0001327567 Listed on NASDAQ · USD

$317.10 -17.38 (-5.20%) Pre-market $324.20 (-3.07%) ≈ ₹29,760 a share

Open chart

Price, last 12 months+57.56% in a year

Key numbers

Market value: $259.52B
P/E (TTM): 622.9
Forward P/E: 75.8
EPS (TTM): $0.51
Dividend yield: —
Beta: 0.97
Day range: $314.79 – $325.50
52-week range: $139.57 – $432.33
Volume: 1,426,243
10-day avg volume: $6.80M
Revenue (TTM): $11.48B
EBITDA (TTM): $1.64B
Gross margin: 70.4%
Net margin: 2.7%
Return on equity: 1.7%
Debt / equity: 6.5%
Price / sales: 22.61
Shares out: 818.44M

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Quarterly results

Results for each quarter

Last 12 quarters from 10-Q and 10-K filings with the US SEC. Q4 = full year minus the first three quarters. Hover a bar to see the number.

Revenue and net income

$1.88B$215.20M$194.20M

Oct 23

$1.98B$53.60M$1.75B

Jan 24

$1.98B$176.70M$278.80M

Apr 24

$2.19B$238.50M$358.10M

Jul 24

$2.14B$286.00M$351.00M

Oct 24

$2.26B$241.00M$267.00M

Jan 25

$2.29B$219.00M$262.00M

Apr 25

$2.54B$497.00M$254.00M

Jul 25

$2.47B$309.00M$334.00M

Oct 25

$2.59B$397.00M$432.00M

Jan 26

$3.00B$-183.00M$-177.00M

Apr 26

$3.41B$172.00M$-282.00M

Jul 26

Revenue · QoQ (vs last quarter)

—+5.2%+0.5%+10%-2.3%+5.5%+1.4%+11%-2.4%+4.9%+16%+14%

Revenue · YoY (vs a year ago)

————+14%+14%+15%+16%+16%+15%+31%+34%

Net income · QoQ (vs last quarter)

—+800%-84%+28%-2.0%-24%-1.9%-3.1%+31%+29%-141%-59%

Net income · YoY (vs a year ago)

————+81%-85%-6.0%-29%-4.8%+62%-168%-211%

RevenueOperating incomeNet incomeLine = trend

US$	Oct 23	Jan 24	Apr 24	Jul 24	Oct 24	Jan 25	Apr 25	Jul 25	Oct 25	Jan 26	Apr 26	Jul 26
Revenue	$1.88B	$1.98B	$1.98B	$2.19B	$2.14B	$2.26B	$2.29B	$2.54B	$2.47B	$2.59B	$3.00B	$3.41B
Cost of revenue	$472.80M	$499.10M	$513.60M	$573.50M	$554.00M	$599.00M	$619.00M	$679.00M	$638.00M	$685.00M	$974.00M	$1.11B
Gross profit	$1.41B	$1.48B	$1.47B	$1.62B	$1.59B	$1.66B	$1.67B	$1.86B	$1.84B	$1.91B	$2.03B	$2.30B
Gross margin	74.8%	74.7%	74.1%	73.8%	74.1%	73.5%	73.0%	73.2%	74.2%	73.6%	67.6%	67.6%
Research & development	$409.50M	$447.90M	$457.20M	$495.40M	$481.00M	$505.00M	$494.00M	$504.00M	$528.00M	$511.00M	$734.00M	$779.00M
Operating income	$215.20M	$53.60M	$176.70M	$238.50M	$286.00M	$241.00M	$219.00M	$497.00M	$309.00M	$397.00M	$-183.00M	$172.00M
Operating margin	11.5%	2.7%	8.9%	10.9%	13.4%	10.7%	9.6%	19.6%	12.5%	15.3%	-6.1%	5.0%
Interest expense	$2.90M	$2.80M	$2.30M	$300.00K	$1.00M	$1.00M	$1.00M	$0	$0	$0	$0	$0
Pre-tax income	$282.60M	$135.50M	$251.20M	$318.70M	$368.00M	$325.00M	$311.00M	$592.00M	$412.00M	$549.00M	$-156.00M	$-269.00M
Income tax	$88.40M	$-1.61B	$-27.60M	$-39.40M	$17.00M	$58.00M	$49.00M	$338.00M	$78.00M	$117.00M	$21.00M	$13.00M
Net income	$194.20M	$1.75B	$278.80M	$358.10M	$351.00M	$267.00M	$262.00M	$254.00M	$334.00M	$432.00M	$-177.00M	$-282.00M
Net margin	10.3%	88.4%	14.0%	16.4%	16.4%	11.8%	11.4%	10.0%	13.5%	16.7%	-5.9%	-8.3%
EPS (diluted)	$0.56	$2.44	$0.39	—	$0.49	$0.38	$0.37	—	$0.47	$0.61	$-0.22	—

Income statement

Results for each year

8 fiscal years from the company's 10-K filings with the US SEC.

Revenue, gross profit and net income

$2.90B$2.09B$-81.90M

FY19

$3.41B$2.41B$-267.00M

FY20

$4.26B$2.98B$-498.90M

FY21

$5.50B$3.78B$-267.00M

FY22

$6.89B$4.98B$439.70M

FY23

$8.03B$5.97B$2.58B

FY24

$9.22B$6.77B$1.13B

FY25

$11.48B$8.08B$307.00M

FY26

Revenue · YoY (vs a year ago)

—+18%+25%+29%+25%+16%+15%+24%

Net income · YoY (vs a year ago)

—-226%-87%+46%+265%+486%-56%-73%

RevenueGross profitNet incomeLine = trend

$-0.87

FY19

$-2.76

FY20

$-1.73

FY21

$-0.90

FY22

$0.64

FY23

$3.64

FY24

$1.60

FY25

$0.40

FY26

EPS (diluted) · YoY (vs a year ago)

—-217%+37%+48%+171%+469%-56%-75%

EPS (diluted)Line = trend

US$	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$2.90B	$3.41B	$4.26B	$5.50B	$6.89B	$8.03B	$9.22B	$11.48B
Revenue growth	—	17.5%	24.9%	29.3%	25.3%	16.5%	14.9%	24.5%
Cost of revenue	$808.40M	$999.50M	$1.27B	$1.72B	$1.91B	$2.06B	$2.45B	$3.40B
Gross profit	$2.09B	$2.41B	$2.98B	$3.78B	$4.98B	$5.97B	$6.77B	$8.08B
Gross margin	72.1%	70.7%	70.0%	68.8%	72.3%	74.3%	73.4%	70.4%
Research & development	$539.50M	$768.10M	$1.14B	$1.42B	$1.60B	$1.81B	$1.98B	$2.55B
Operating income	$-54.10M	$-179.00M	$-304.10M	$-188.80M	$387.30M	$684.00M	$1.24B	$695.00M
Operating margin	-1.9%	-5.3%	-7.1%	-3.4%	5.6%	8.5%	13.5%	6.1%
Depreciation & amortisation	$153.80M	$206.10M	$260.40M	$282.60M	$282.20M	$284.00M	$343.00M	$855.00M
Interest expense	$83.90M	$88.70M	$163.30M	$27.40M	$27.20M	$8.30M	$3.00M	$0
Pre-tax income	$-74.60M	$-231.80M	$-465.00M	$-207.20M	$566.30M	$988.00M	$1.60B	$536.00M
Income tax	$7.30M	$35.20M	$33.90M	$59.80M	$126.60M	$-1.59B	$462.00M	$229.00M
Tax rate	—	—	—	—	22.4%	-160.9%	28.9%	42.7%
Net income	$-81.90M	$-267.00M	$-498.90M	$-267.00M	$439.70M	$2.58B	$1.13B	$307.00M
Net margin	-2.8%	-7.8%	-11.7%	-4.9%	6.4%	32.1%	12.3%	2.7%
EPS (diluted)	$-0.87	$-2.76	$-1.73	$-0.90	$0.64	$3.64	$1.60	$0.40

Balance sheet

Assets and debt

At each fiscal year end.

Equity, debt and cash

$1.59B$1.43B$2.80B

FY19

$1.10B$3.08B$3.75B

FY20

$634.50M$3.23B$2.90B

FY21

$210.00M$3.68B$3.63B

FY22

$1.75B$1.99B$2.39B

FY23

$5.17B$2.58B

FY24

$7.82B$2.90B

FY25

$27.49B$3.07B

FY26

Shareholders' equity · YoY (vs a year ago)

—-31%-42%-67%+732%+196%+51%+251%

Shareholders' equityTotal debtCash + short-term investmentsLine = trend

US$	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & equivalents	$961.40M	$2.96B	$1.87B	$2.12B	$1.14B	$1.54B	$2.27B	$2.51B
Short-term investments	$1.84B	$789.80M	$1.03B	$1.52B	$1.25B	$1.04B	$635.00M	$557.00M
Current assets	$3.66B	$5.13B	$4.65B	$6.41B	$6.05B	$6.85B	$7.52B	$8.64B
Total assets	$6.59B	$9.07B	$10.24B	$12.25B	$14.50B	$19.99B	$23.58B	$48.46B
Current liabilities	$2.05B	$2.69B	$5.12B	$8.31B	$7.74B	$7.68B	$7.99B	$9.92B
Long-term debt	$1.43B	$3.08B	$3.23B	$3.68B	$1.99B	—	—	—
Total debt	$1.43B	$3.08B	$3.23B	$3.68B	$1.99B	—	—	—
Total liabilities	—	—	$9.48B	$12.04B	$12.75B	$14.82B	$15.75B	$20.97B
Shareholders' equity	$1.59B	$1.10B	$634.50M	$210.00M	$1.75B	$5.17B	$7.82B	$27.49B
Current ratio	1.78	1.91	0.91	0.77	0.78	0.89	0.94	0.87
Debt / equity	0.90	2.80	5.08	17.51	1.14	—	—	—
Return on equity	-5.2%	-24.2%	-78.6%	-127.1%	25.2%	49.9%	14.5%	1.1%

Cash flow

Cash coming in and going out

Free cash flow = cash from operations minus capital spending. Shareholder returns = dividends + buybacks.

Free cash flow and shareholder returns

$1.06B$924.40M$330.00M

FY19

$1.04B$821.30M$1.20B

FY20

$1.50B$1.39B$1.18B

FY21

$1.98B$1.79B$892.30M

FY22

$2.78B$2.63B$272.70M

FY23

$3.26B$3.10B$567.00M

FY24

$3.72B$3.47B$0

FY25

$4.55B$4.11B$1.00B

FY26

Operating cash flow · YoY (vs a year ago)

—-1.9%+45%+32%+40%+17%+14%+23%

Free cash flow · YoY (vs a year ago)

—-11%+69%+29%+47%+18%+12%+19%

Operating cash flowFree cash flowDividends + buybacksLine = trend

US$	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash from operations	$1.06B	$1.04B	$1.50B	$1.98B	$2.78B	$3.26B	$3.72B	$4.55B
Capital spending	$-131.20M	$-214.40M	$-116.00M	$-192.80M	$-146.30M	$-157.00M	$-247.00M	$-440.00M
Free cash flow	$924.40M	$821.30M	$1.39B	$1.79B	$2.63B	$3.10B	$3.47B	$4.11B
FCF margin	31.9%	24.1%	32.6%	32.6%	38.2%	38.6%	37.6%	35.8%
Stock-based pay	$567.70M	$658.40M	$894.50M	$1.01B	$1.07B	$1.08B	$1.30B	$1.77B
Cash from investing	$-1.83B	$288.00M	$-1.48B	$-933.40M	$-2.03B	$-1.51B	$-2.21B	$-3.10B
Cash from financing	$-773.90M	$673.00M	$-1.10B	$-806.60M	$-1.73B	$-1.34B	$-779.00M	$-1.20B
Share buybacks	$-330.00M	$-1.20B	$-1.18B	$-892.30M	$-272.70M	$-567.00M	$0	$-1.00B

About

About Palo Alto Networks, Inc.

Palo Alto Networks, Inc. is an American multinational cybersecurity company with headquarters in Santa Clara, California. The core product is a platform that includes advanced firewalls and cloud-based offerings that extend those firewalls to cover other aspects of security. The company serves over 70,000 organizations in over 150 countries, including 85 of the Fortune 100. It is home to the Unit 42 threat research team and hosts the Ignite cybersecurity conference. It is a partner organization of the World Economic Forum.

From Wikipedia (CC BY-SA 4.0).

Company details

Company name: Palo Alto Networks, Inc.
Ticker: PANW
Exchange: NASDAQ
ISIN: US6974351057
SEC CIK: 0001327567
Sector: Technology
Industry: Packaged Software
SEC industry (SIC): Computer Peripheral Equipment, Nec (3577)
Incorporated in: Delaware
Financial year ends: 31 July
Filer type: Large accelerated filer
Latest annual report (10-K): 10 Sep 2026
CEO: Nikesh Arora
Chair: Nikesh Arora
Headquarters: Santa Clara
Address: 3000 Tannery Way, Santa Clara, Ca 95054
Founded: 2005
Employees: 21,921
Trades in: US dollars (USD)
Website: paloaltonetworks.com

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Palo Alto Networks, Inc.

Key numbers

Quarterly results

Revenue and net income

Income statement

Revenue, gross profit and net income

Balance sheet

Equity, debt and cash

Cash flow

Free cash flow and shareholder returns

About

Company details

News

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