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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/S ratio

Alert me on P/S ratio

As of 16 October 2026, Palo Alto Networks, Inc. (PANW) trades at a P/S ratio of 22.3×. Over the past ten years it has ranged from 4.2× (March 2020) to 27.4× (October 2026); the current reading is higher than 98% of that period. That is above the Software Infrastructure industry median of 3.0× and above the Technology sector median of 2.7×.

P/S ratio, daily

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Annual newest first

Period P/S ratio Change
FY2026 21.6× 73.45%
FY2025 12.5× (3.28%)
FY2024 12.9× 17.37%
FY2023 11.0× 20.93%
FY2022 9.1× 0.31%
FY2021 9.1× 24.59%
FY2020 7.3× (1.47%)
FY2019 7.4× (7.65%)
FY2018 8.0× 17.55%
FY2017 6.8× (16.20%)

Quarterly newest first

Period P/S ratio Change
Jul 2026 21.6× 59.86%
Apr 2026 13.5× 8.49%
Jan 2026 12.5× (20.23%)
Oct 2025 15.6× 25.37%
43 more quarters

Against its own ten years

Low 4.2× High 27.4×
Ten-year median 9.6×
Current reading's percentile 97

P/S ratio against peers

Company P/S ratio
XYZ Block, Inc. compare 1.9×
ORCL Oracle Corporation compare 5.3×
SNPS Synopsys, Inc. compare 9.2×
FTNT Fortinet, Inc. compare 16.5×
PANW Palo Alto Networks, Inc. 22.3×
NBIS Nebius Group N.V. compare 34.2×
NET Cloudflare, Inc. compare 41.6×
CRWD CrowdStrike compare 43.0×
PLTR Palantir Technologies Inc. compare 72.5×
Software Infrastructure industry median 3.0×
Technology sector median 2.7×
Market median 1.9×

What P/S ratio is

Price to Sales Ratio shows how much investors pay for each dollar of a company’s annual sales, whether or not it is profitable.

(Stock Price × Shares (Basic, Weighted) (latest quarter)) ÷ Revenue (TTM)

The full definition of P/S ratio →

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