Palo Alto Networks, Inc. PANW

374.74 (15.18) (3.89%) as of 25 Sep
Market cap
$316.8B
P/E
706×
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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 1.52%.

Free cash flow margin, annual

Annual

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

Low 24.1% High 42.5%
Ten-year median 36.7%
Current reading's percentile 50

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%
NET Cloudflare, Inc. compare 12.5%
ORCL Oracle Corporation compare −40.0%
CRWV CoreWeave Inc. compare −179.9%
NBIS Nebius Group N.V. compare −433.8%
Software Infrastructure industry median 1.67%
Technology sector median 1.52%
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

The full definition of Free cash flow margin →

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