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Saturday 17 October 2026 Export PANW’s income statement to Excel — free account

Palo Alto Networks, Inc.

PANW Technology Software Infrastructure

Palo Alto Networks, Inc.’s revenue for fiscal 2026 (year ended July 2026) was $11.5 billion, up 24.5% from fiscal 2025. In the quarter to July 2026, revenue grew 34.5%, EPS fell 192.1%, free cash flow grew 34.3% and total debt rose 174.7%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; revenue growth for ten consecutive years, operating cash flow growth for five; insiders bought in the last twelve months.

342.00 28.27 −7.63%
Market cap
$302.9B
P/E
645×
Fwd P/E
135×
Dividend yield
—
F-score
3/9
Altman Z
7.45
Beneish M
−2.56
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Palo Alto Networks, Inc. (PANW) Debt to equity

Alert me on Debt to equity

Palo Alto Networks, Inc.'s debt to equity at the end of the quarter to 31 July 2026 was 0.1×. Over the past ten years it has ranged from 0.0× (fiscal 2025) to 18.8× (fiscal 2022); the current reading is higher than 17% of that period. That is above the Software Infrastructure industry median of 0.0× and above the Technology sector median of 0.1×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2026 0.1× —
FY2025 0.0× —
FY2024 0.2× (85.64%)
FY2023 1.3× (93.10%)
FY2022 18.8× 270.22%
FY2021 5.1× 78.28%
FY2020 2.9× 216.34%
FY2019 0.9× (45.52%)
FY2018 1.7× 139.55%
FY2017 0.7× 23.60%

Quarterly newest first

Period Debt to equity Change
Jul 2026 0.1× 31.90%
Apr 2026 0.0× —
Jan 2026 0.0× —
Oct 2025 0.0× —
43 more quarters

Against its own ten years

Low 0.0× High 18.8×
Ten-year median 0.9×
Current reading's percentile 17

Debt to equity against peers

Company Debt to equity
PLTR Palantir Technologies Inc. compare 0.0×
PANW Palo Alto Networks, Inc. 0.1×
CRWD CrowdStrike compare 0.1×
XYZ Block, Inc. compare 0.3×
FTNT Fortinet, Inc. compare 0.3×
SNPS Synopsys, Inc. compare 0.3×
NBIS Nebius Group N.V. compare 0.8×
NET Cloudflare, Inc. compare 1.2×
ORCL Oracle Corporation compare 1.8×
Software Infrastructure industry median 0.0×
Technology sector median 0.1×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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