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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) P/B ratio

Alert me on P/B ratio

As of 16 October 2026, Palo Alto Networks, Inc. (PANW) trades at a P/B ratio of 9.3×. Over the past ten years it has ranged from 5.2× (April 2026) to 524× (April 2022); the current reading is higher than 2% of that period. That is above the Software Infrastructure industry median of 2.9× and above the Technology sector median of 2.7×.

P/B ratio, daily

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Annual newest first

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 newest first

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 2

P/B ratio against peers

Company P/B ratio
XYZ Block, Inc. compare 2.1×
SNPS Synopsys, Inc. compare 2.8×
NBIS Nebius Group N.V. compare 4.5×
ORCL Oracle Corporation compare 6.1×
PANW Palo Alto Networks, Inc. 9.3×
CRWD CrowdStrike compare 45.1×
PLTR Palantir Technologies Inc. compare 45.2×
NET Cloudflare, Inc. compare 64.6×
FTNT Fortinet, Inc. compare 79.9×
Software Infrastructure industry median 2.9×
Technology sector median 2.7×
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 →

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