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) P/B ratio

As of 25 September 2026, Palo Alto Networks, Inc. (PANW) trades at a P/B ratio of 10.2×. Over the past ten years it has ranged from 5.2× (April 2026) to 524× (April 2022); the current reading is higher than 3% of that period. That is above the Software Infrastructure industry median of 3.4× and above the Technology sector median of 3.0×.

P/B ratio, daily

Annual

Period P/B ratio Change
FY2026 9.0× (38.54%)
FY2025 14.7× (26.59%)
FY2024 20.0× (53.77%)
FY2023 43.3× (81.80%)
FY2022 238× 291.77%
FY2021 60.8× 170.15%
FY2020 22.5× 66.75%
FY2019 13.5× (13.85%)
FY2018 15.7× (0.31%)
FY2017 15.7× 25.69%

Quarterly

Period P/B ratio Change
Jul 2026 9.0× 74.14%
Apr 2026 5.2× (60.51%)
Jan 2026 13.1× (23.82%)
Oct 2025 17.3× 17.32%
43 more quarters

Against its own ten years

Low 5.2× High 524×
Ten-year median 21.4×
Current reading's percentile 3

P/B ratio against peers

Company P/B ratio
SNPS Synopsys, Inc. compare 2.6×
NBIS Nebius Group N.V. compare 6.4×
ORCL Oracle Corporation compare 6.5×
CRWV CoreWeave Inc. compare 9.6×
PANW Palo Alto Networks, Inc. 10.2×
PLTR Palantir Technologies Inc. compare 46.0×
CRWD CrowdStrike compare 50.0×
NET Cloudflare, Inc. compare 76.3×
FTNT Fortinet, Inc. compare 82.0×
Software Infrastructure industry median 3.4×
Technology sector median 3.0×
Market median 1.8×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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