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Palo Alto Networks, Inc.(PANW)Earnings, Financials & Key Ratios
PANW•NASDAQ
179.9× P/E·Price updated Jun 19, 2026
AboutPalo Alto Networks, Inc. provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, uniform resource locator filtering, laptop and mobile device protection, and firewall; and DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention. In addition, the company offers cloud security, secure access, security analytics and automation, and threat intelligence and cyber security consulting; professional services, including architecture design and planning, implementation, configuration, and firewall migration; education services, such as certifications, as well as online and in-classroom training; and support services. Palo Alto Networks, Inc. sells its products and services through its channel partners, as well as directly to medium to large enterprises, service providers, and government entities operating in various industries, including education, energy, financial services, government entities, healthcare, Internet and media, manufacturing, public sector, and telecommunications. The company was incorporated in 2005 and is headquartered in Santa Clara, California.Show more
- Revenue$9.22B+14.9%
- EBITDA$1.59B+64.0%
- Net Income$1.13B-56.0%
- EPS (Diluted)1.60-56.0%
- Gross Margin73.41%-1.3%
- EBITDA Margin17.2%+42.8%
- Operating Margin13.48%+58.2%
- Net Margin12.3%-61.7%
- ROE17.45%-76.6%
PANW Key Insights
Palo Alto Networks, Inc. (PANW) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Excellent 3Y average ROE of 45.6%
- ✓FCF machine: 37.6% free cash flow margin
- ✓Momentum leader: RS Rating 93 (top 7%)
- ✓High quality earnings: Operating CF exceeds net income
- ✓Strong 5Y sales CAGR of 22.0%
✗Weaknesses
- ✗Expensive at 26.1x book value
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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PANW Price & Volume
Palo Alto Networks, Inc. (PANW) stock price & volume — 10-year historical chart
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PANW Growth Metrics
Palo Alto Networks, Inc. (PANW) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years25.81%
5 Years22.03%
3 Years18.79%
TTM19.51%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-31.93%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-34.29%
Return on Capital
10 Years-1.27%
5 Years2.77%
3 Years7.77%
Last Year8.91%
PANW Recent Earnings
Palo Alto Networks, Inc. (PANW) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 11/12 qtrs (92%)
Q3 2026Latest
Jun 2, 2026Metric
Actual
Est
EPS
$0.85+7.2%
$0.79
Rev
$3.0B+2.0%
$2.9B
Q1 2026
Feb 17, 2026Metric
Actual
Est
EPS
$1.03+9.7%
$0.94
Rev
$2.6B+0.4%
$2.6B
Q1 2026
Feb 12, 2026Metric
Actual
Est
EPS
$0.50-47.2%
$0.94
Rev
$2.1B-17.2%
$2.6B
Q4 2025
Nov 19, 2025Metric
Actual
Est
EPS
$0.93+4.4%
$0.89
Rev
$2.5B+0.5%
$2.5B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q3 2026Latest | Jun 2, 2026 | $0.85vs $0.79+7.2% | $3.0Bvs $2.9B+2.0% |
| Q1 2026 | Feb 17, 2026 | $1.03vs $0.94+9.7% | $2.6Bvs $2.6B+0.4% |
| Q1 2026 | Feb 12, 2026 | $0.50vs $0.94-47.2% | $2.1Bvs $2.6B-17.2% |
| Q4 2025 | Nov 19, 2025 | $0.93vs $0.89+4.4% | $2.5Bvs $2.5B+0.5% |
Based on last 12 quarters of dataView full earnings history →
PANW Peer Comparison
Palo Alto Networks, Inc. (PANW) competitors in Cybersecurity and identity management — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 FTNT | 107.09B | 144.73 | 59.56 | 14.17% | 27.49% | 155.65% | 0.81 | |
 CRWD | 174.34B | 684.86 | -1053.63 | 21.71% | -0.48% | -0.58% | 0.18 | |
 ZS | 20.19B | 124.85 | -462.41 | 23.31% | -2.44% | -3.71% | 1.00 | |
 CHKP | 12.75B | 122.33 | 12.72 | 6.25% | 38.37% | 36.43% | 0.68 | |
 CYBR | 20.64B | 408.85 | -139.54 | 36.01% | -10.79% | -6.11% | 0.51 | |
 S | 5.06B | 15.02 | -10.96 | 21.89% | -30.38% | -21.49% | 0.01 | |
 CSCO | 471.16B | 119.54 | 46.88 | 5.3% | 19.69% | 25.14% | 0.60 | |
 FFIV | 21.79B | 385.49 | 32.67 | 9.66% | 21.96% | 19.88% | 0.14 |
Compare PANW vs Peers
Palo Alto Networks, Inc. (PANW) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
PANW Income Statement
Palo Alto Networks, Inc. (PANW) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Jul'17 | Jul'18 | Jul'19 | Jul'20 | Jul'21 | Jul'22 | Jul'23 | Jul'24 | Jul'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 1.76B | 2.27B | 2.9B | 3.41B | 4.26B | 5.5B | 6.89B | 8.03B | 9.22B | 10.61B |
Revenue Growth % | 27.79% | 29.04% | 27.56% | 17.55% | 24.87% | 29.26% | 25.29% | 16.46% | 14.87% | 19.51% |
Cost of Goods Sold | 476.6M | 645.3M | 808.4M | 999.5M | 1.27B | 1.72B | 1.91B | 2.06B | 2.45B | 2.98B |
COGS % of Revenue | 27.05% | 28.39% | 27.88% | 29.32% | 29.95% | 31.24% | 27.71% | 25.65% | 26.59% | - |
Gross Profit | 1.28B▲ 0% | 1.63B▲ 26.7% | 2.09B▲ 28.5% | 2.41B▲ 15.2% | 2.98B▲ 23.8% | 3.78B▲ 26.9% | 4.98B▲ 31.7% | 5.97B▲ 19.8% | 6.77B▲ 13.4% | 7.63B▲ 0% |
Gross Margin % | 72.95% | 71.61% | 72.12% | 70.68% | 70.05% | 68.76% | 72.29% | 74.35% | 73.41% | 71.94% |
Gross Profit Growth % | 27.42% | 26.68% | 28.47% | 15.19% | 23.76% | 26.89% | 31.73% | 19.77% | 13.43% | - |
Operating Expenses | 1.44B | 1.73B | 2.15B | 2.59B | 3.29B | 3.97B | 4.6B | 5.28B | 5.53B | 6.61B |
OpEx % of Revenue | 82% | 76.23% | 73.99% | 75.93% | 77.19% | 72.19% | 66.67% | 65.83% | 59.94% | - |
Selling, General & Admin | 1.1B | 1.33B | 1.61B | 1.82B | 2.14B | 2.55B | 2.99B | 3.48B | 3.54B | 4.33B |
SG&A % of Revenue | 62.28% | 58.6% | 55.38% | 53.39% | 50.4% | 46.42% | 43.4% | 43.29% | 38.42% | - |
Research & Development | 347.4M | 400.7M | 539.5M | 768.1M | 1.14B | 1.42B | 1.6B | 1.81B | 1.98B | 2.28B |
R&D % of Revenue | 19.72% | 17.63% | 18.61% | 22.54% | 26.79% | 25.77% | 23.27% | 22.54% | 21.52% | - |
Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Operating Income | -165.8M▲ 0% | -104.2M▲ 37.2% | -54.1M▲ 48.1% | -179M▼ 230.9% | -304.1M▼ 69.9% | -188.8M▲ 37.9% | 387.3M▲ 305.1% | 683.9M▲ 76.6% | 1.24B▲ 81.7% | 1.02B▲ 0% |
Operating Margin % | -9.41% | -4.58% | -1.87% | -5.25% | -7.14% | -3.43% | 5.62% | 8.52% | 13.48% | 9.65% |
Operating Income Growth % | -5.4% | 37.15% | 48.08% | -230.87% | -69.89% | 37.92% | 305.14% | 76.58% | 81.74% | - |
EBITDA | -106M | -7.8M | 99.7M | 27.1M | -43.7M | 93.8M | 669.5M | 967.2M | 1.59B | 1.4B |
EBITDA Margin % | -6.02% | -0.34% | 3.44% | 0.8% | -1.03% | 1.7% | 9.71% | 12.05% | 17.2% | 13.15% |
EBITDA Growth % | 7.42% | 92.64% | 1378.21% | -72.82% | -261.25% | 314.65% | 613.75% | 44.47% | 64.01% | 5.74% |
D&A (Non-Cash Add-back) | 59.8M | 96.4M | 153.8M | 206.1M | 260.4M | 282.6M | 282.2M | 283.3M | 343.4M | 371.8M |
EBIT | -155.6M | -75.7M | 9.3M | -146.6M | -307M | -187M | 586.8M | 993.1M | 1.6B | 1.4B |
Net Interest Income | -9.8M | -2.5M | -14.1M | -47.3M | -154.6M | -11.8M | 197.2M | 309.6M | 360.8M | 382.7M |
Interest Income | 14.7M | 27.1M | 69.8M | 41.4M | 8.5M | 15.6M | 224.4M | 317.9M | 363.5M | 383.1M |
Interest Expense | 24.5M | 29.6M | 83.9M | 88.7M | 163.3M | 27.4M | 27.2M | 8.3M | 3M | 400K |
Other Income/Expense | -28.3M | -1.1M | -20.5M | -52.8M | -160.9M | -18.4M | 179M | 304.4M | 352.8M | 373.6M |
Pretax Income | -194.1M▲ 0% | -130.2M▲ 32.9% | -74.6M▲ 42.7% | -231.8M▼ 210.7% | -465M▼ 100.6% | -207.2M▲ 55.4% | 566.3M▲ 373.3% | 988.3M▲ 74.5% | 1.6B▲ 61.5% | 1.4B▲ 0% |
Pretax Margin % | -11.02% | -5.73% | -2.57% | -6.8% | -10.93% | -3.77% | 8.22% | 12.31% | 17.3% | 13.17% |
Income Tax | 22.5M | 17.7M | 7.3M | 35.2M | 33.9M | 59.8M | 126.6M | -1.59B | 461.8M | 554M |
Effective Tax Rate % | -11.59% | -13.59% | -9.79% | -15.19% | -7.29% | -28.86% | 22.36% | -160.81% | 28.94% | 39.66% |
Net Income | -216.6M▲ 0% | -147.9M▲ 31.7% | -81.9M▲ 44.6% | -267M▼ 226.0% | -498.9M▼ 86.9% | -267M▲ 46.5% | 439.7M▲ 264.7% | 2.58B▲ 486.2% | 1.13B▼ 56.0% | 842.8M▲ 0% |
Net Margin % | -12.3% | -6.51% | -2.82% | -7.83% | -11.72% | -4.85% | 6.38% | 32.11% | 12.3% | 7.95% |
Net Income Growth % | 4.12% | 31.72% | 44.62% | -226.01% | -86.85% | 46.48% | 264.68% | 486.22% | -56.01% | -31.93% |
Net Income (Continuing) | -216.6M | -122.2M | -81.9M | -267M | -498.9M | -267M | 439.7M | 2.58B | 1.13B | 842.8M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | -0.40▲ 0% | -0.27▲ 32.5% | -0.15▲ 46.3% | -0.46▼ 217.2% | -0.86▼ 87.0% | -0.45▲ 47.7% | 0.64▲ 242.2% | 3.64▲ 468.8% | 1.60▼ 56.0% | 1.13▲ 0% |
EPS Growth % | 6.98% | 32.5% | 46.3% | -217.24% | -86.96% | 47.67% | 242.22% | 468.75% | -56.04% | -34.29% |
EPS (Basic) | -0.40 | -0.27 | -0.15 | -0.46 | -0.86 | -0.45 | 0.73 | 4.04 | 1.71 | - |
Diluted Shares Outstanding | 543.6M | 550.2M | 567M | 581.4M | 578.4M | 591M | 684.6M | 708M | 709.3M | 744M |
Basic Shares Outstanding | 543.6M | 550.2M | 567M | 581.4M | 578.4M | 591M | 606.4M | 638.4M | 662.5M | 729M |
Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
PANW Balance Sheet
Palo Alto Networks, Inc. (PANW) balance sheet — assets, liabilities & shareholders' equity
| Metric | Jul'17 | Jul'18 | Jul'19 | Jul'20 | Jul'21 | Jul'22 | Jul'23 | Jul'24 | Jul'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Current Assets | 1.98B | 4.13B | 3.66B | 5.13B | 4.65B | 6.41B | 6.05B | 6.85B | 7.1B | 7.71B |
Cash & Short-Term Investments | 1.38B | 3.4B | 2.8B | 3.75B | 2.9B | 3.63B | 2.39B | 2.58B | 2.9B | 3.11B |
Cash Only | 744.3M | 2.51B | 961.4M | 2.96B | 1.87B | 2.12B | 1.14B | 1.54B | 2.27B | 2.36B |
Short-Term Investments | 630.7M | 896.5M | 1.84B | 789.8M | 1.03B | 1.52B | 1.25B | 1.04B | 634.6M | 747M |
Accounts Receivable | 432.1M | 467M | 582.4M | 1.04B | 1.24B | 2.25B | 2.85B | 3.34B | 3.68B | 3.44B |
Days Sales Outstanding | 89.53 | 74.99 | 73.31 | 111.06 | 106.38 | 149.53 | 151.03 | 152.07 | 145.64 | 97.38 |
Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - |
Other Current Assets | 0 | 0 | 0 | 222.4M | 365M | 317.7M | 339.2M | 384.7M | 520.5M | 454M |
Total Non-Current Assets | 1.46B | 1.69B | 2.93B | 3.94B | 5.59B | 5.84B | 8.45B | 13.14B | 16.47B | 37.99B |
Property, Plant & Equipment | 211.1M | 273.1M | 296M | 606.8M | 581.3M | 599.8M | 617.8M | 747M | 734.3M | 1.18B |
Fixed Asset Turnover | 8.34x | 8.32x | 9.80x | 5.62x | 7.32x | 9.17x | 11.16x | 10.75x | 12.56x | 13.47x |
Goodwill | 238.8M | 522.8M | 1.35B | 1.81B | 2.71B | 2.75B | 2.93B | 3.35B | 4.57B | 21.9B |
Intangible Assets | 53.7M | 140.8M | 280.6M | 358.2M | 498.6M | 384.5M | 315.4M | 374.9M | 762.7M | 7.28B |
Long-Term Investments | 789.3M | 547.5M | 575.4M | 554.4M | 888.3M | 1.05B | 3.05B | 4.17B | 6.56B | 21.42B |
Other Non-Current Assets | 169.1M | 206.8M | 423.1M | 603.9M | 421.4M | 1.05B | 344.8M | 2.1B | 1.43B | 585M |
Total Assets | 3.44B▲ 0% | 5.82B▲ 69.4% | 6.59B▲ 13.2% | 9.07B▲ 37.5% | 10.24B▲ 13.0% | 12.25B▲ 19.6% | 14.5B▲ 18.3% | 19.99B▲ 37.9% | 23.58B▲ 17.9% | 46.27B▲ 0% |
Asset Turnover | 0.51x | 0.39x | 0.44x | 0.38x | 0.42x | 0.45x | 0.48x | 0.40x | 0.39x | 0.36x |
Asset Growth % | 20.3% | 69.36% | 13.21% | 37.52% | 12.97% | 19.65% | 18.34% | 37.86% | 17.93% | 162.95% |
Total Current Liabilities | 1.2B | 2.14B | 2.05B | 2.69B | 5.12B | 8.31B | 7.74B | 7.68B | 7.99B | 9.01B |
Accounts Payable | 35.5M | 49.4M | 73.3M | 63.6M | 56.9M | 128M | 132.3M | 116.3M | 232.2M | 293M |
Days Payables Outstanding | 27.19 | 27.94 | 33.1 | 23.23 | 16.29 | 27.18 | 25.29 | 20.61 | 34.57 | 30.97 |
Short-Term Debt | 0 | 550.4M | 0 | 0 | 1.56B | 3.68B | 1.99B | 963.9M | 0 | 160M |
Deferred Revenue (Current) | 968.4M | 1.21B | 1.58B | 2.05B | 2.74B | 3.64B | 4.67B | 5.54B | 6.3B | 25.8B |
Other Current Liabilities | 79.9M | 201.4M | 162.4M | 322.2M | 430.6M | 461.1M | 548.3M | 554.7M | 846M | 0 |
Current Ratio | 1.65x | 1.93x | 1.78x | 1.91x | 0.91x | 0.77x | 0.78x | 0.89x | 0.89x | 0.86x |
Quick Ratio | 1.65x | 1.93x | 1.78x | 1.91x | 0.91x | 0.77x | 0.78x | 0.89x | 0.89x | 0.86x |
Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | 66.4 |
Total Non-Current Liabilities | 1.48B | 2.7B | 2.95B | 5.27B | 4.36B | 3.74B | 5.02B | 7.14B | 7.76B | 9.59B |
Long-Term Debt | 524.7M | 1.37B | 1.43B | 3.08B | 1.67B | 0 | 0 | 0 | 0 | 1.19B |
Capital Lease Obligations | 0 | 0 | 0 | 336.6M | 313.4M | 276.1M | 279.2M | 380.5M | 338.2M | 1.78B |
Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 28.1M | 387.7M | 89.1M | 519.1M |
Other Non-Current Liabilities | 147.6M | 229.6M | 216M | 90.1M | 97.7M | 108.4M | 86.1M | 430.9M | 886.8M | 930M |
Total Liabilities | 2.68B | 4.83B | 5.01B | 7.96B | 9.48B | 12.04B | 12.75B | 14.82B | 15.75B | 18.6B |
Total Debt | 524.7M | 1.92B | 1.43B | 3.42B | 3.54B | 3.95B | 2.27B | 1.34B | 338.2M | 2.07B |
Net Debt | -219.6M | -586.8M | 468.6M | 462.7M | 1.67B | 1.83B | 1.14B | -190.8M | -1.93B | -293M |
Debt / Equity | 0.69x | 1.94x | 0.90x | 3.10x | 4.64x | 18.82x | 1.30x | 0.26x | 0.04x | 0.07x |
Debt / EBITDA | - | - | 14.34x | 126.23x | - | 42.14x | 3.39x | 1.39x | 0.21x | 1.48x |
Net Debt / EBITDA | - | - | 4.70x | 17.07x | - | 19.56x | 1.70x | -0.20x | -1.22x | -0.21x |
Interest Coverage | -6.35x | -2.56x | 0.11x | -1.65x | -1.88x | -6.82x | 21.57x | 119.65x | 532.53x | 3492.25x |
Total Equity | 759.6M▲ 0% | 988.3M▲ 30.1% | 1.59B▲ 60.5% | 1.1B▼ 30.5% | 763.6M▼ 30.7% | 210M▼ 72.5% | 1.75B▲ 732.6% | 5.17B▲ 195.7% | 7.82B▲ 51.4% | 27.67B▲ 0% |
Equity Growth % | -3.84% | 30.11% | 60.51% | -30.54% | -30.7% | -72.5% | 732.57% | 195.68% | 51.35% | 427.91% |
Book Value per Share | 1.40 | 1.80 | 2.80 | 1.90 | 1.32 | 0.36 | 2.55 | 7.30 | 11.03 | 37.19 |
Total Shareholders' Equity | 759.6M | 988.3M | 1.59B | 1.1B | 763.6M | 210M | 1.75B | 5.17B | 7.82B | 27.67B |
Common Stock | 1.6B | 1.97B | 2.49B | 2.26B | 2.31B | 1.93B | 3.02B | 3.82B | 5.29B | 24.61B |
Retained Earnings | -836.7M | -984.6M | -900.9M | -1.17B | -1.67B | -1.67B | -1.23B | 1.35B | 2.48B | 3.07B |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | -3.4M | -16.4M | -3.7M | 10.5M | -9.9M | -55.6M | -43.2M | -1.6M | 48.4M | -13M |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
PANW Cash Flow Statement
Palo Alto Networks, Inc. (PANW) cash flow — operating, investing & free cash flow history
| Metric | Jul'17 | Jul'18 | Jul'19 | Jul'20 | Jul'21 | Jul'22 | Jul'23 | Jul'24 | Jul'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 868.5M | 1.04B | 1.06B | 1.04B | 1.5B | 1.98B | 2.78B | 3.26B | 3.72B | 4.22B |
Operating CF Margin % | 49.3% | 45.62% | 36.41% | 30.39% | 35.31% | 36.08% | 40.3% | 40.58% | 40.3% | - |
Operating CF Growth % | 31.97% | 19.4% | 1.79% | -1.89% | 45.12% | 32.05% | 39.95% | 17.29% | 14.07% | 154.44% |
Net Income | -216.6M | -147.9M | -81.9M | -267M | -498.9M | -267M | 439.7M | 2.58B | 1.13B | 842.8M |
Depreciation & Amortization | 59.8M | 96.4M | 153.8M | 253.5M | 304.9M | 282.6M | 282.2M | 283.3M | 302.3M | 653.7M |
Stock-Based Compensation | 474.5M | 496.7M | 567.7M | 658.4M | 894.5M | 1.01B | 1.07B | 1.08B | 1.3B | 1.03B |
Deferred Taxes | 23.6M | 500K | -17.5M | -6.2M | 13.1M | -3.1M | 1.91B | -2.03B | -349.9M | 129.6M |
Other Non-Cash Items | 24.5M | 69.9M | 206M | 325.2M | 440.8M | 440.3M | -1.48B | 444.7M | 411.8M | 497.4M |
Working Capital Changes | 502.7M | 521.4M | 227.5M | 71.8M | 348.6M | 520.8M | 550.8M | 910.3M | 922.8M | 187.8M |
Change in Receivables | -82.9M | -33M | -108.7M | -435.6M | -172.4M | -902M | -1.06B | -1.02B | -154.2M | -311.6M |
Change in Inventory | 5.1M | -80.6M | -353.1M | -448.8M | -327.6M | 0 | 0 | 0 | 0 | 0 |
Change in Payables | 5.9M | 3.7M | 32.3M | -12.8M | -11.8M | 69.3M | 1M | -15M | 106.8M | 38.1M |
Cash from Investing | -472.6M | -520M | -1.83B | 288M | -1.48B | -933.4M | -2.03B | -1.51B | -2.2B | -2.86B |
Capital Expenditures | -163.4M | -112M | -131.2M | -214.4M | -116M | -192.8M | -146.3M | -156.8M | -246.2M | 76.9M |
CapEx % of Revenue | 9.28% | 4.93% | 4.52% | 6.29% | 2.73% | 3.5% | 2.12% | 1.95% | 2.67% | 0.73% |
Acquisitions | -90.7M | -374.1M | -773.7M | -583.5M | -777.3M | -37M | -204.5M | -610.6M | -1.05B | -5.12B |
Investments | - | - | - | - | - | - | - | - | - | - |
Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -500.2M |
Cash from Financing | -386M | 1.25B | -773.9M | 673M | -1.1B | -806.6M | -1.73B | -1.34B | -778.9M | -1.38B |
Debt Issued (Net) | 0 | 1.68B | -477.4M | 1.98B | -900K | -600K | -1.69B | -1.03B | -965.6M | 592.3M |
Equity Issued (Net) | -432.4M | -302.8M | -258.3M | -1.22B | -1.18B | -892.3M | -272.7M | -566.7M | 370.5M | -1.23B |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | -411M | -259.1M | -330M | -1.2B | -1.18B | -892.3M | -272.7M | -566.7M | 0 | -1B |
Other Financing | 46.4M | -134M | -38.2M | -85.3M | 75M | 86.3M | 238.4M | 257.3M | -183.8M | -736.8M |
Net Change in Cash | 9.9M▲ 0% | 1.76B▲ 17704.0% | -1.54B▼ 187.6% | 2B▲ 229.3% | -1.08B▼ 154.2% | 244.7M▲ 122.6% | -982.6M▼ 501.6% | 404.6M▲ 141.2% | 732.4M▲ 81.0% | -20.8M▲ 0% |
Free Cash Flow | 705.1M▲ 0% | 925M▲ 31.2% | 924.4M▼ 0.1% | 821.3M▼ 11.2% | 1.39B▲ 68.9% | 1.79B▲ 29.2% | 2.63B▲ 46.8% | 3.1B▲ 17.8% | 3.47B▲ 11.9% | 4.29B▲ 0% |
FCF Margin % | 40.03% | 40.69% | 31.88% | 24.1% | 32.59% | 32.57% | 38.17% | 38.63% | 37.63% | 40.48% |
FCF Growth % | 20.41% | 31.19% | -0.06% | -11.15% | 68.88% | 29.19% | 46.84% | 17.85% | 11.9% | 43.09% |
FCF per Share | 1.30 | 1.68 | 1.63 | 1.41 | 2.40 | 3.03 | 3.84 | 4.38 | 4.89 | 5.77 |
FCF Conversion (FCF/Net Income) | -4.01x | -7.01x | -12.89x | -3.88x | -3.01x | -7.43x | 6.32x | 1.26x | 3.28x | 5.09x |
Interest Paid | 0 | 800K | 13.5M | 13.5M | 20M | 20.2M | 20.2M | 5.6M | 1.7M | 0 |
Taxes Paid | 9M | 11.2M | 22M | 17.2M | 24.9M | 34.6M | 147.1M | 342.3M | 505.5M | 0 |
PANW Key Ratios
Palo Alto Networks, Inc. (PANW) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | -27.96% | -16.92% | -6.36% | -19.87% | -53.49% | -54.85% | 44.9% | 74.52% | 17.45% | 6.3% |
Return on Invested Capital (ROIC) | -22.53% | -16.6% | -3.3% | -7.42% | -11.42% | -6.33% | 11.79% | 13.05% | 17.15% | 6.79% |
Gross Margin | 72.95% | 71.61% | 72.12% | 70.68% | 70.05% | 68.76% | 72.29% | 74.35% | 73.41% | 71.94% |
Net Margin | -12.3% | -6.51% | -2.82% | -7.83% | -11.72% | -4.85% | 6.38% | 32.11% | 12.3% | 7.95% |
Debt / Equity | 0.69x | 1.94x | 0.90x | 3.10x | 4.64x | 18.82x | 1.30x | 0.26x | 0.04x | 0.07x |
Interest Coverage | -6.35x | -2.56x | 0.11x | -1.65x | -1.88x | -6.82x | 21.57x | 119.65x | 532.53x | 3492.25x |
FCF Conversion | -4.01x | -7.01x | -12.89x | -3.88x | -3.01x | -7.43x | 6.32x | 1.26x | 3.28x | 5.09x |
Revenue Growth | 27.79% | 29.04% | 27.56% | 17.55% | 24.87% | 29.26% | 25.29% | 16.46% | 14.87% | 19.51% |
Related:PANW Dividend History·PANW Revenue History·PANW Price History·PANW P/E History·PANW Financial Ratios·PANW Institutional Holders
PANW SEC Filings & Documents
Palo Alto Networks, Inc. (PANW) SEC filings — annual & quarterly reports (10-K, 10-Q)
PANW Frequently Asked Questions
Palo Alto Networks, Inc. (PANW) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Palo Alto Networks, Inc. (PANW) reported $10.61B in revenue for fiscal year 2025. This represents a 21642% increase from $48.8M in 2010.
Palo Alto Networks, Inc. (PANW) grew revenue by 14.9% over the past year. This is steady growth.
Yes, Palo Alto Networks, Inc. (PANW) is profitable, generating $842.8M in net income for fiscal year 2025 (12.3% net margin).
Dividend & Returns
Palo Alto Networks, Inc. (PANW) has a return on equity (ROE) of 17.5%. This is reasonable for most industries.
Palo Alto Networks, Inc. (PANW) generated $4.29B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.