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.
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Palo Alto Networks, Inc. (PANW) Free cash flow margin
Palo Alto Networks, Inc.'s free cash flow margin over the twelve months to 31 July 2026 was 35.8%. Over the past ten years it has ranged from 24.1% (fiscal 2020) to 42.5% (fiscal 2016); the current reading is higher than 50% of that period. That is above the Software Infrastructure industry median of 1.67% and above the Technology sector median of 1.72%.
Free cash flow margin, annual
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Annual newest first
| Period | Free cash flow margin | Change (points) |
|---|---|---|
| FY2026 | 35.8% | (1.79) |
| FY2025 | 37.6% | (1.01) |
| FY2024 | 38.6% | 0.46 |
| FY2023 | 38.2% | 5.60 |
| FY2022 | 32.6% | (0.02) |
| FY2021 | 32.6% | 8.49 |
| FY2020 | 24.1% | (7.78) |
| FY2019 | 31.9% | (8.85) |
| FY2018 | 40.7% | 0.54 |
| FY2017 | 40.2% | (2.33) |
Against its own ten years
Free cash flow margin against peers
| Company | Free cash flow margin |
|---|---|
| PLTR Palantir Technologies Inc. compare | 54.6% |
| FTNT Fortinet, Inc. compare | 41.4% |
| PANW Palo Alto Networks, Inc. | 35.8% |
| SNPS Synopsys, Inc. compare | 29.2% |
| CRWD CrowdStrike compare | 28.0% |
| XYZ Block, Inc. compare | 15.5% |
| NET Cloudflare, Inc. compare | 12.5% |
| ORCL Oracle Corporation compare | −40.0% |
| NBIS Nebius Group N.V. compare | −433.8% |
| Software Infrastructure industry median | 1.67% |
| Technology sector median | 1.72% |
| Market median | 0.00% |
What Free cash flow margin is
Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.
(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue
More on PANW
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement