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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) Free cash flow

Alert me on Free cash flow

Palo Alto Networks, Inc.'s free cash flow for fiscal 2026 was $4.1B, up 18.6% from $3.5B in fiscal 2025. Over the past ten years it has ranged from $319.0M (fiscal 2015) to $4.1B (fiscal 2026) — the current reading is the highest in ten years. Free cash flow has risen for 6 consecutive fiscal years. Palo Alto Networks, Inc. ranks 2nd of 169 Software Infrastructure companies by free cash flow.

Free cash flow, annual

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Annual newest first

Period Free cash flow Change
FY2026 $4.1B 18.56%
FY2025 $3.5B 11.87%
FY2024 $3.1B 17.85%
FY2023 $2.6B 46.84%
FY2022 $1.8B 29.19%
FY2021 $1.4B 68.88%
FY2020 $821.3M (11.15%)
FY2019 $924.4M (0.18%)
FY2018 $926.1M 31.29%
FY2017 $705.4M 20.35%

Quarterly newest first

Period Free cash flow Change
Jul 2026 $1.3B 59.14%
Apr 2026 $788.0M 105.21%
Jan 2026 $384.0M (77.24%)
Oct 2025 $1.7B 80.62%
43 more quarters

Against its own ten years

Low $319.0M High $4.1B
Ten-year median $1.2B
Current reading's percentile 100

Free cash flow against peers

Company Free cash flow
PANW Palo Alto Networks, Inc. $4.1B
XYZ Block, Inc. compare $3.9B
PLTR Palantir Technologies Inc. compare $3.4B
FTNT Fortinet, Inc. compare $3.1B
SNPS Synopsys, Inc. compare $2.7B
CRWD CrowdStrike compare $1.5B
NET Cloudflare, Inc. compare $314.9M
NBIS Nebius Group N.V. compare −$5.9B
ORCL Oracle Corporation compare −$28.7B

What Free cash flow is

Free Cash Flow tells an investor how much cash a company’s operations generate after paying for its investment in physical and intangible assets.

Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)

The full definition of Free cash flow →

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