Last 47 quarters of trend data · Technology · Software - Infrastructure
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Palo Alto Networks, Inc.'s quarterly P/E stands at 73.7x, down 39.2% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 50.5% YoY to 48.9x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 114.74 | 73.74 | 117.15 | 120.56 | 126.30 | 121.33 | 91.92 | 79.59 | 93.24 | 17.34 | 108.49 | 97.64 | 147.15 |
| — | -39.2% | +27.4% | +51.5% | +35.5% | +599.6% | -15.3% | -18.5% | -36.6% | -89.1% | -84.8% | -97.7% | — | |
| P/S Ratio | 14.00 | 12.16 | 15.78 | 12.13 | 14.44 | 14.48 | 14.93 | 13.12 | 12.99 | 15.32 | 11.32 | 11.34 | 9.14 |
| — | -16.0% | +5.7% | -7.5% | +11.2% | -5.5% | +31.9% | +15.7% | +42.2% | +92.8% | +21.9% | +25.7% | -8.7% | |
| P/B Ratio | 16.64 | 13.43 | 18.02 | 15.73 | 18.29 | 20.51 | 21.61 | 22.23 | 23.09 | 27.77 | 39.17 | 50.68 | 51.03 |
| — | -34.5% | -16.6% | -29.2% | -20.8% | -26.2% | -44.8% | -56.1% | -54.8% | -61.5% | -65.7% | -81.0% | -69.0% | |
| P/FCF | 37.20 | 49.44 | 23.14 | 26.06 | 58.99 | 64.17 | 21.79 | 61.75 | 52.47 | 46.21 | 14.27 | 58.78 | 39.22 |
| — | -22.9% | +6.2% | -57.8% | +12.4% | +38.9% | +52.7% | +5.1% | +33.8% | +130.6% | +17.7% | +103.6% | -0.7% | |
| EV / EBITDA | 80.14 | 48.88 | 96.59 | 52.16 | 106.43 | 98.68 | 85.46 | 91.20 | 102.89 | 248.41 | 75.80 | 69.51 | 107.36 |
| — | -50.5% | +13.0% | -42.8% | +3.4% | -60.3% | +12.8% | +31.2% | -4.2% | +97.6% | -56.6% | -75.7% | -82.1% | |
| EV / EBIT | 102.28 | 76.50 | 93.31 | 51.20 | 105.03 | 99.43 | 85.69 | 90.83 | 102.20 | 221.25 | 74.46 | 71.11 | 116.80 |
| — | -23.1% | +8.9% | -43.6% | +2.8% | -55.1% | +15.1% | +27.7% | -12.5% | +43.6% | -80.4% | -89.0% | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Palo Alto Networks, Inc.'s operating margin was 15.4% in Q2 2026, up 2.9 pp QoQ and up 4.8 pp YoY. The trailing four-quarter average of 14.3% lags the current quarter, suggesting the recent improvement is above-trend.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 73.4% | 73.6% | 74.2% | 73.2% | 72.9% | 73.5% | 74.1% | 73.8% | 74.1% | 74.7% | 74.8% | 74.1% | 72.4% |
| — | +0.2% | +0.2% | -0.8% | -1.6% | -1.7% | -1.0% | -0.3% | +2.4% | +4.0% | +6.2% | +8.5% | +6.1% | |
| Operating Margin | 13.5% | 15.4% | 12.5% | 19.6% | 9.6% | 10.6% | 13.4% | 10.9% | 8.9% | 2.7% | 11.5% | 13.0% | 4.6% |
| — | +44.8% | -6.6% | +80.0% | +7.4% | +292.4% | +16.7% | -16.1% | +94.7% | +12.6% | +1078.6% | +1206.7% | +233.2% | |
| Net Margin | 12.3% | 16.7% | 13.5% | 10.0% | 11.5% | 11.8% | 16.4% | 16.3% | 14.0% | 88.4% | 10.3% | 11.7% | 6.3% |
| — | +40.6% | -17.7% | -38.7% | -18.5% | -86.6% | +58.7% | +40.1% | +124.2% | +1638.6% | +708.3% | +5378.0% | +218.7% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.5% | 4.8% | 4.1% | 3.4% | 3.9% | 4.4% | 6.3% | 7.4% | 6.3% | 53.5% | 9.9% | 15.3% | 11.0% |
| — | +10.0% | -36.1% | -54.6% | -39.0% | -91.9% | -36.1% | -51.4% | -42.5% | +293.2% | +77.9% | +1167.6% | +134.2% | |
| ROA | 5.2% | 1.8% | 1.4% | 1.1% | 1.2% | 1.3% | 1.7% | 1.9% | 1.5% | 10.6% | 1.3% | 1.6% | 0.8% |
| — | +37.7% | -18.5% | -41.0% | -20.7% | -87.7% | +31.2% | +18.8% | +95.2% | +1511.2% | +721.6% | +5512.4% | +215.8% | |
| ROIC | 17.1% | 5.0% | 3.8% | 6.4% | 3.1% | 3.7% | 4.5% | 3.7% | 2.8% | 1.2% | 6.7% | 6.3% | 1.8% |
| — | +35.8% | -15.0% | +72.3% | +8.5% | +208.0% | -34.0% | -40.5% | +56.2% | +15.8% | +1215.7% | +961.2% | +201.9% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Palo Alto Networks, Inc.'s Debt/EBITDA ratio is 0.6x, down from 1.7x last quarter — comfortably within a safe range. The current ratio has improved 24.5% YoY to 1.04x, strengthening the short-term liquidity position.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.04 | 0.08 | 0.05 | 0.11 | 0.14 | 0.17 | 0.26 | 0.34 | 0.50 | 1.02 | 1.30 | 3.20 |
| — | -71.8% | -54.0% | -79.5% | -67.5% | -71.9% | -83.1% | -80.0% | -89.3% | -90.8% | -86.9% | -93.1% | -72.6% | |
| Debt / EBITDA | 0.21 | 0.59 | 1.74 | 0.72 | 2.63 | 2.73 | 2.77 | 4.27 | 6.10 | 17.88 | 7.95 | 7.03 | 26.14 |
| — | -78.3% | -37.3% | -83.2% | -57.0% | -84.7% | -65.1% | -39.2% | -76.6% | -50.4% | -82.8% | -91.0% | -84.3% | |
| Current Ratio | 0.89 | 1.04 | 0.93 | 0.89 | 0.90 | 0.84 | 0.84 | 0.89 | 0.84 | 0.83 | 0.86 | 0.78 | 0.74 |
| — | +24.5% | +10.2% | -0.3% | +7.2% | +1.1% | -2.2% | +14.1% | +12.6% | +30.2% | +23.2% | +1.2% | +0.0% | |
| Quick Ratio | 0.89 | 1.04 | 0.93 | 0.89 | 0.90 | 0.84 | 0.84 | 0.89 | 0.84 | 0.83 | 0.82 | 0.78 | 0.74 |
| — | +24.5% | +10.2% | -0.3% | +7.2% | +1.1% | +3.0% | +14.1% | +12.6% | +30.2% | +17.0% | +1.2% | +0.0% | |
| Interest Coverage | 414.30 | — | — | 1243.00 | 312.57 | 267.11 | 286.00 | 794.67 | 76.83 | 19.14 | 74.21 | 44.47 | 10.09 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorDCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare business quality, growth, and profitability against top sector peers.
Start ComparisonQuick answers to the most common questions about buying PANW stock.
Palo Alto Networks, Inc.'s current P/E is 114.7x. The average P/E over the last 4 quarters is 109.4x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Palo Alto Networks, Inc.'s current operating margin is 13.5%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Palo Alto Networks, Inc.'s business trajectory between earnings reports.