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Tuesday 20 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.

340.32 6.63 −1.91%
Market cap
$283.8B
P/E
653×
Fwd P/E
217×
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) Price to free cash flow

Alert me on Price to free cash flow

As of 19 October 2026, Palo Alto Networks, Inc. (PANW) trades at a price to free cash flow of 63.1×. Over the past ten years it has ranged from 14.4× (May 2017) to 84.6× (January 2015); the current reading is higher than 97% of that period. That is above the Software Infrastructure industry median of 16.6× and above the Technology sector median of 20.3×.

Price to free cash flow, daily

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Annual newest first

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%)

Quarterly newest first

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

Against its own ten years

Low 14.4× High 84.6×
Ten-year median 28.2×
Current reading's percentile 97

Price to free cash flow against peers

Company Price to free cash flow
ORCL Oracle Corporation compare n/m
NBIS Nebius Group N.V. compare n/m
XYZ Block, Inc. compare 12.0×
SNPS Synopsys, Inc. compare 31.7×
FTNT Fortinet, Inc. compare 40.3×
PANW Palo Alto Networks, Inc. 63.1×
PLTR Palantir Technologies Inc. compare 139×
CRWD CrowdStrike compare 154×
NET Cloudflare, Inc. compare 336×
Software Infrastructure industry median 16.6×
Technology sector median 20.3×
Market median 14.1×

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 →

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