Wednesday 7 October 2026 Export all PANW data to Excel Powerpack

Palo Alto Networks, Inc.

Palo Alto Networks, Inc.’s revenue for fiscal 2026 (year ended July 2026) was $11.5 billion, up 24.5% from fiscal 2025. 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.

419.91 13.15 +3.23%

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Market cap: $335.1B
P/E: 792×
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

Share dilution Sep 10, 2026

All filings →

Insider Decisions trades per month

Total buys 10.00

Total sells 132.95

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	1	—	—	—	—	—	—	—
Sell	2	5	3	—	2	3	2	7	2	1	5	1

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 335,060.00

Revenue 11,480.00

Net Income 307.00

Free Cash Flow 4,113.00

Net Debt (1,297.00)

Current Ratio 0.87

Debt/Equity 0.06

P/E ratio 792.28

P/S ratio 27.40

P/B ratio 11.44

Past 5Y EPS Growth —

This Y EPS Growth 9.02%

Next Y EPS Growth 16.12%

Next 5Y EPS Growth 13.68%

Scores & Valuation vs History

F-score 3/9 Altman Z 7.45 Beneish M −2.56 Dividend safety n/a

P/E against its own 10 years 93.29%

10-year low 10-year high

P/S against its own 10 years 100.00%

10-year low 10-year high

P/B against its own 10 years 5.95%

10-year low 10-year high

EV/Sales against its own 10 years 100.00%

10-year low 10-year high

EV/FCF against its own 10 years 100.00%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2018	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	2026
Cash	2,390	2,579	2,904	3,071
Receivables	2,852	3,345	3,680	4,221
Inventory	—	—	—	—
Other	—	—	—	—
	6,048	6,850	7,523	8,643

	2023	2024	2025	2026
Payables	132	116	232	290
ST’ Debt	1,992	964	—	—
Other	—	—	—	—
	7,738	7,683	7,988	9,923

Compound Annual Growth %

	10y	5y	3y
Sales	23.61%	21.95%	18.54%
Cash Flow	21.33%	24.82%	17.91%
Earnings	0.00%	0.00%	(11.29%)
Book Value	40.85%	112.50%	150.53%

Revenue $m

	Oct	Jan	Apr	Jul	Year
’26	—	—	—	—	—
’26	2,474	2,594	3,002	3,410	11,480
’25	2,139	2,257	2,289	2,536	9,221
’24	1,878	1,975	1,985	2,189	8,027
’23	1,563	1,655	1,721	1,953	6,893
’22	1,247	1,317	1,387	1,551	5,502
’21	946	1,017	1,074	1,219	4,256

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Oct	Jan	Apr	Jul	Year
’26	—	—	—	—	—
’26	1,771	554	871	1,357	4,553
’25	1,510	557	628	1,021	3,716
’24	1,526	690	529	513	3,258
’23	1,237	695	432	414	2,778
’22	589	483	390	524	1,985
’21	535	365	278	326	1,503

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Oct	Jan	Apr	Jul	Year
’26	—	—	—	—	—
’26	1,687	384	788	1,254	4,113
’25	1,466	509	560	934	3,469
’24	1,489	655	492	466	3,101
’23	1,197	656	401	377	2,631
’22	554	402	351	485	1,792
’21	505	332	251	298	1,387

Fiscal quarters ending in the months shown.

EPS $

	Oct	Jan	Apr	Jul	Year
’26	—	—	—	—	—
’26	0.47	0.61	(0.22)	(0.35)	0.40
’25	0.50	0.38	0.37	0.36	1.60
’24	0.28	2.45	0.40	0.51	3.64
’23	0.03	0.13	0.16	0.32	0.64
’22	(0.18)	(0.16)	(0.12)	0.01	(0.45)
’21	(0.16)	(0.25)	(0.25)	(0.20)	(0.86)

Fiscal quarters ending in the months shown.

Group	Line	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027e
Price, $
Price, $	Low	17.89	24.18	29.80	20.91	51.93	68.37	66.11	130.05	144.15	139.57	Analyst estimates 2027–2029 Powerpack
	High	26.28	39.92	43.44	62.50	95.45	106.82	159.00	207.24	223.61	432.33
People
People	Employees	4,562	5,348	7,014	8,014	10,473	12,561	13,948	15,289	16,068	21,921
	Revenue/emp, $m	0.38	0.43	0.41	0.43	0.41	0.44	0.49	0.53	0.57	0.52
Income, $m
Income, $m	Revenue	1,755	2,274	2,900	3,408	4,256	5,502	6,893	8,027	9,221	11,480
	Gross margin, %	72.86	71.63	72.12	70.68	70.05	68.76	72.29	74.35	73.42	70.36
	EBT	(180)	(105)	(75)	(232)	(465)	(207)	566	988	1,596	536
	EBT margin, %	(10.26)	(4.63)	(2.57)	(6.80)	(10.93)	(3.77)	8.22	12.31	17.31	4.67
	Net income	(203)	(122)	(82)	(267)	(499)	(267)	440	2,578	1,134	307
	Depreciation	194	276	430	576	759	720	700	729	849	1,466
Per share, $
Per share, $	Revenue	3.23	4.13	5.11	5.86	7.36	9.31	11.37	12.58	13.91	15.33
	Earnings	(0.40)	(0.27)	(0.14)	(0.46)	(0.86)	(0.45)	0.73	4.04	1.71	0.41
	Cash flow	1.60	1.89	1.86	1.78	2.60	3.36	4.58	5.11	5.60	6.08
	Capex	(0.30)	(0.20)	(0.23)	(0.37)	(0.20)	(0.33)	(0.24)	(0.25)	(0.37)	(0.59)
	Free cash flow	1.30	1.68	1.63	1.41	2.40	3.03	4.34	4.86	5.23	5.49
	Book value	1.40	2.11	2.80	1.90	1.10	0.36	2.88	8.10	11.80	36.70
	Shares, m	544	550	567	581	578	591	606	638	663	749
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	173.58	40.29	101.22	626.09
	P/S	6.80	8.00	7.38	7.28	9.06	9.09	11.00	12.91	12.48	21.65
	P/B	15.72	15.67	13.50	22.51	60.80	238.20	43.35	20.04	14.71	9.04
	EV/Sales	6.61	7.34	6.96	7.10	9.14	9.15	10.98	12.74	12.24	21.55
	EV/FCF	16.44	18.03	21.85	29.45	28.05	28.09	28.76	32.97	32.53	60.15
Cash, $m
Cash, $m	Operating cash flow	869	1,038	1,056	1,036	1,503	1,985	2,778	3,258	3,716	4,553
	Capex	(163)	(112)	(131)	(214)	(116)	(193)	(146)	(157)	(247)	(440)
	Free cash flow	705	926	924	821	1,387	1,792	2,631	3,101	3,469	4,113
Balance, $m
Balance, $m	Working capital	775	2,037	1,612	2,438	(469)	(1,891)	(1,689)	(833)	(465)	(1,280)
	Total debt	525	1,920	1,430	3,142	3,226	3,953	2,271	964	—	1,774
	Net debt	(850)	(1,483)	(1,373)	(606)	325	318	(119)	(1,615)	(2,904)	(1,297)
	Shareholders’ equity	760	1,160	1,586	1,102	635	210	1,748	5,170	7,824	27,492
Returns, %
Returns, %	ROA	(6.45)	(2.60)	(1.31)	(3.41)	(5.17)	(2.37)	3.29	14.95	5.21	0.85
	ROIC	0.00	0.00	(15.86)	(22.55)	(19.81)	(22.34)	14.86	12.03	15.79	1.66
	ROE	(24.54)	(12.73)	(5.96)	(19.87)	(57.47)	(63.23)	44.90	74.53	17.45	1.74

Negative figures in brackets.

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Palo Alto Networks, Inc. (PANW) key facts

Palo Alto Networks, Inc. (PANW) is a Software Infrastructure company in the Technology sector, listed on Nasdaq.
Palo Alto Networks, Inc.’s revenue for fiscal 2026 (year ended July 2026) was $11.5 billion, up 24.5% from fiscal 2025.
As of October 6, 2026, PANW traded at $419.91, a market capitalization of $335.1 billion.
Return on equity was 1.74% and debt-to-equity 0.06.
Its Piotroski F-score is 3 out of 9 and its Altman Z-score is 7.45 (safe zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.

Financial Analysis (summary)

Updated 25 September 2026

Palo Alto Networks reported $11.5 billion of revenue in FY2026, with revenue growth of 24.5% in FY2026 against FY2025. Revenue reached $3.4 billion in Q4 FY2026, while free cash flow was $1.3 billion in Q4 FY2026. Net income was $307.0 million in FY2026, and diluted EPS was $0.40 in FY2026.

Cash generation remained positive, with $4.6 billion of operating cash flow and $4.1 billion of free cash flow in FY2026. At Q4 FY2026, net debt was −$1.3 billion, while shareholders’ equity was $27.5 billion in FY2026. Profitability margins and returns were lower in FY2026 than in FY2025.

Read the full analysis →