Last 48 quarters of trend data · Technology · Software - Infrastructure
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 252.03 | — | — | 73.74 | 117.15 | 120.56 | 126.30 | 121.33 | 91.92 | 79.59 | 93.24 | 17.34 | 108.49 | 97.64 | 147.15 | 158.64 | 715.00 | 4243.88 | — | — | — |
| — | — | — | -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 | 29.80 | 18.59 | 11.11 | 12.16 | 15.78 | 12.13 | 14.44 | 14.48 | 14.93 | 13.12 | 12.99 | 15.32 | 11.32 | 11.34 | 9.14 | 7.95 | 9.29 | 9.02 | 10.01 | 9.64 | 9.96 |
| — | +53.2% | -23.1% | -16.0% | +5.7% | -7.5% | +11.2% | -5.5% | +31.9% | +15.7% | +42.2% | +92.8% | +21.9% | +25.7% | -8.7% | -17.6% | -6.8% | +13.4% | +25.5% | +16.6% | +78.5% | |
| P/B Ratio | 36.55 | 9.22 | 4.82 | 13.43 | 18.02 | 15.73 | 18.29 | 20.51 | 21.61 | 22.23 | 23.09 | 27.77 | 39.17 | 50.68 | 51.03 | 72.16 | 114.31 | 266.41 | 164.43 | 431.15 | 95.79 |
| — | -41.4% | -73.6% | -34.5% | -16.6% | -29.2% | -20.8% | -26.2% | -44.8% | -56.1% | -54.8% | -61.5% | -65.7% | -81.0% | -69.0% | -83.3% | +19.3% | +424.5% | +378.8% | +1436.2% | +238.8% | |
| P/FCF | 79.20 | 49.79 | 42.33 | 49.44 | 23.14 | 26.06 | 58.99 | 64.17 | 21.79 | 61.75 | 52.47 | 46.21 | 14.27 | 58.78 | 39.22 | 20.04 | 12.13 | 28.87 | 39.52 | 31.59 | 22.42 |
| — | +91.0% | -28.2% | -22.9% | +6.2% | -57.8% | +12.4% | +38.9% | +52.7% | +5.1% | +33.8% | +130.6% | +17.7% | +103.6% | -0.7% | -36.6% | -45.9% | -11.2% | +15.8% | +24.9% | +114.5% | |
| EV / EBITDA | 172.02 | — | — | 48.88 | 96.59 | 52.16 | 106.43 | 98.68 | 85.46 | 91.20 | 102.89 | 248.41 | 75.80 | 69.51 | 107.36 | 125.71 | 174.52 | 286.61 | 599.20 | — | — |
| — | — | — | -50.5% | +13.0% | -42.8% | +3.4% | -60.3% | +12.8% | +31.2% | -4.2% | +97.6% | -56.6% | -75.7% | -82.1% | — | — | -42.5% | — | — | — | |
| EV / EBIT | 219.55 | — | — | 55.73 | 93.31 | 51.20 | 105.03 | 99.43 | 85.69 | 90.83 | 102.20 | 221.25 | 74.46 | 71.11 | 116.80 | 154.05 | 380.48 | 644.88 | — | — | — |
| — | — | — | -43.9% | +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.
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 73.4% | 67.6% | 67.6% | 73.6% | 74.2% | 73.2% | 72.9% | 73.5% | 74.1% | 73.8% | 74.1% | 74.7% | 74.8% | 74.1% | 72.4% | 71.8% | 70.5% | 68.2% | 68.2% | 69.2% | 69.5% |
| — | -7.7% | -7.4% | +0.2% | +0.2% | -0.8% | -1.6% | -1.7% | -1.0% | -0.3% | +2.4% | +4.0% | +6.2% | +8.5% | +6.1% | +3.8% | +1.4% | -3.3% | -1.4% | -0.8% | -1.6% | |
| Operating Margin | 13.5% | 5.0% | -6.1% | 15.4% | 12.5% | 19.6% | 9.6% | 10.6% | 13.4% | 10.9% | 8.9% | 2.7% | 11.5% | 13.0% | 4.6% | 2.4% | 1.0% | 1.0% | -3.4% | -5.6% | -6.6% |
| — | -74.7% | -163.8% | +44.8% | -6.6% | +80.0% | +7.4% | +292.4% | +16.7% | -16.1% | +94.7% | +12.6% | +1078.6% | +1206.7% | +233.2% | +143.0% | +114.7% | +120.0% | +66.6% | +35.7% | -40.9% | |
| Net Margin | 12.3% | -8.3% | -5.9% | 16.7% | 13.5% | 10.0% | 11.5% | 11.8% | 16.4% | 16.3% | 14.0% | 88.4% | 10.3% | 11.7% | 6.3% | 5.1% | 1.3% | 0.2% | -5.3% | -7.1% | -8.3% |
| — | -182.6% | -151.5% | +40.6% | -17.7% | -38.7% | -18.5% | -86.6% | +58.7% | +40.1% | +124.2% | +1638.6% | +708.3% | +5378.0% | +218.7% | +171.7% | +115.4% | +102.2% | +60.9% | +49.3% | +14.8% |
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.5% | -1.0% | -1.0% | 4.8% | 4.1% | 3.4% | 3.9% | 4.4% | 6.3% | 7.4% | 6.3% | 53.5% | 9.9% | 15.3% | 11.0% | 13.6% | 5.6% | 1.2% | -32.1% | -29.4% | -16.2% |
| — | -130.3% | -124.8% | +10.0% | -36.1% | -54.6% | -39.0% | -91.9% | -36.1% | -51.4% | -42.5% | +293.2% | +77.9% | +1167.6% | +134.2% | +146.4% | +134.5% | +108.9% | -143.2% | -100.8% | -62.0% | |
| ROA | 5.2% | -0.6% | -0.5% | 1.8% | 1.4% | 1.1% | 1.2% | 1.3% | 1.7% | 1.9% | 1.5% | 10.6% | 1.3% | 1.6% | 0.8% | 0.7% | 0.2% | 0.0% | -0.7% | -0.9% | -1.0% |
| — | -153.5% | -140.7% | +37.7% | -18.5% | -41.0% | -20.7% | -87.7% | +31.2% | +18.8% | +95.2% | +1511.2% | +721.6% | +5512.4% | +215.8% | +173.0% | +116.1% | +102.3% | +55.3% | +42.5% | +3.3% | |
| ROIC | 17.1% | 0.5% | -0.8% | 5.0% | 3.8% | 6.4% | 3.1% | 3.7% | 4.5% | 3.7% | 2.8% | 1.2% | 6.7% | 6.3% | 1.8% | 1.0% | 0.5% | 0.6% | -1.8% | -2.5% | -2.7% |
| — | -92.8% | -127.1% | +35.8% | -15.0% | +72.3% | +8.5% | +208.0% | -34.0% | -40.5% | +56.2% | +15.8% | +1215.7% | +961.2% | +201.9% | +141.1% | +119.2% | +132.9% | +44.5% | +12.3% | -44.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.09 | 0.07 | 0.04 | 0.08 | 0.05 | 0.11 | 0.14 | 0.17 | 0.26 | 0.34 | 0.50 | 1.02 | 1.30 | 3.20 | 5.42 | 7.80 | 18.82 | 11.70 | 33.58 | 7.65 |
| — | +70.5% | -32.9% | -71.8% | -54.0% | -79.5% | -67.5% | -71.9% | -83.1% | -80.0% | -89.3% | -90.8% | -86.9% | -93.1% | -72.6% | -83.8% | +1.9% | +306.1% | +232.7% | +1059.1% | +66.1% | |
| 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 | 36.02 | 46.12 | 78.43 | 166.03 | — | — |
| — | — | — | -78.3% | -37.3% | -83.2% | -57.0% | -84.7% | -65.1% | -39.2% | -76.6% | -50.4% | -82.8% | -91.0% | -84.3% | — | — | -55.0% | — | — | — | |
| Current Ratio | 0.89 | 0.87 | 0.86 | 1.04 | 0.93 | 0.89 | 0.90 | 0.84 | 0.84 | 0.89 | 0.84 | 0.83 | 0.86 | 0.78 | 0.74 | 0.64 | 0.70 | 0.77 | 0.74 | 0.66 | 0.68 |
| — | -2.1% | -4.3% | +24.5% | +10.2% | -0.3% | +7.2% | +1.1% | -2.2% | +14.1% | +12.6% | +30.2% | +23.2% | +1.2% | +0.0% | -3.0% | +3.3% | -15.0% | -46.1% | -32.7% | -58.5% | |
| Quick Ratio | 0.89 | 0.87 | 0.86 | 1.04 | 0.93 | 0.89 | 0.90 | 0.84 | 0.84 | 0.89 | 0.84 | 0.83 | 0.82 | 0.78 | 0.74 | 0.64 | 0.70 | 0.77 | 0.74 | 0.66 | 0.68 |
| — | -2.1% | -4.3% | +24.5% | +10.2% | -0.3% | +7.2% | +1.1% | +3.0% | +14.1% | +12.6% | +30.2% | +17.0% | +1.2% | +0.0% | -3.0% | +3.3% | -15.0% | -46.1% | -32.7% | -58.5% | |
| Interest Coverage | 532.53 | — | — | — | — | 1479.75 | 444.29 | 361.56 | 369.00 | 1052.67 | 109.87 | 49.00 | 98.10 | 55.35 | 17.79 | 12.99 | 5.79 | 3.25 | -6.72 | -11.15 | -12.48 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying PANW stock.
Palo Alto Networks, Inc.'s current P/E is 252.0x. The average P/E over the last 2 quarters is 95.4x. 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 compressing 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.