Friday 6 November 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.

Revenue: +34.5%
EPS: −192.1%
Free cash flow: +34.3%

Quarter to July 2026, against a year earlier

316.40 31.64 −9.09%

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Market cap: $257.6B
P/E: 597×
Fwd P/E: 232×
Dividend yield: —
F-score: 3/9
Altman Z: 7.45
Beneish M: −2.56
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Palo Alto Networks, Inc. (PANW) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, Palo Alto Networks, Inc. (PANW) trades at a P/B ratio of 8.6×. Over the past ten years it has ranged from 5.2× (April 2026) to 524× (April 2022); the current reading is higher than 1% of that period. That is above the Software Infrastructure industry median of 2.9× and above the Technology sector median of 2.5×.

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<iframe src="https://stockrow.com/embed/PANW/pb-ratio" width="100%" height="360" style="border:0" loading="lazy" title="Palo Alto Networks, Inc. P/B ratio, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/PANW/metrics/pb-ratio">Palo Alto Networks, Inc. (PANW) P/B ratio — stockrow.com</a></p>

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%

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	Free account

Against its own ten years

Low 5.2× High 524×

Ten-year median 21.3×

Current reading's percentile 2

Company	P/B ratio
XYZ Block, Inc. compare	2.2×
SNPS Synopsys, Inc. compare	2.7×
NBIS Nebius Group N.V. compare	3.3×
ORCL Oracle Corporation compare	5.5×
PANW Palo Alto Networks, Inc.	8.6×
PLTR Palantir Technologies Inc. compare	33.0×
FTNT Fortinet, Inc. compare	40.0×
CRWD CrowdStrike compare	43.2×
NET Cloudflare, Inc. compare	59.6×
Software Infrastructure industry median	2.9×
Technology sector median	2.5×
Market median	1.7×

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 →

Palo Alto Networks, Inc. (PANW) P/B ratio

P/B ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/B ratio against peers

What P/B ratio is

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P/B ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/B ratio against peers

What P/B ratio is

More on PANW

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