Monday 9 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

330.91 17.07 +5.44%

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Market cap: $257.0B
P/E: 624×
Fwd P/E: 204×
Dividend yield: —
F-score: 3/9
ROIC: 1.66%
Net debt / EBITDA: −0.6×
Dividend safety: n/a

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Palo Alto Networks, Inc. (PANW) Price to free cash flow

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As of 9 November 2026, Palo Alto Networks, Inc. (PANW) trades at a price to free cash flow of 60.3×. Over the past ten years it has ranged from 14.4× (May 2017) to 84.6× (January 2015); the current reading is higher than 96% of that period. That is above the Software Infrastructure industry median of 18.7× and above the Technology sector median of 19.7×.

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

Period	Price to free cash flow	Change
FY2026	60.4×	82.13%
FY2025	33.2×	(0.68%)
FY2024	33.4×	15.98%
FY2023	28.8×	3.18%
FY2022	27.9×	0.37%
FY2021	27.8×	(7.88%)
FY2020	30.2×	30.36%
FY2019	23.2×	17.99%
FY2018	19.6×	15.99%
FY2017	16.9×	(11.35%)

Period	Price to free cash flow	Change
Jul 2026	60.4×	59.57%
Apr 2026	37.9×	9.32%
Jan 2026	34.6×	(14.52%)
Oct 2025	40.5×	22.15%
43 more quarters	Free account

Against its own ten years

Low 14.4× High 84.6×

Ten-year median 28.3×

Current reading's percentile 96

Company	Price to free cash flow
NBIS Nebius Group N.V. compare	n/m
ORCL Oracle Corporation compare	n/m
XYZ Block, Inc. compare	15.4×
FTNT Fortinet, Inc. compare	26.2×
SNPS Synopsys, Inc. compare	32.6×
PANW Palo Alto Networks, Inc.	60.3×
PLTR Palantir Technologies Inc. compare	101×
CRWD CrowdStrike compare	154×
NET Cloudflare, Inc. compare	326×
Software Infrastructure industry median	18.7×
Technology sector median	19.7×
Market median	14.2×

What Price to free cash flow is

Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.

Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))

The full definition of Price to free cash flow →

Palo Alto Networks, Inc. (PANW) Price to free cash flow

Price to free cash flow, daily

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Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

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Price to free cash flow, daily

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Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

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