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Palo Alto Networks (PANW)

Nasdaq Information Technology Systems Software S&P 500Nasdaq-100
$313.84
-0.83 (-0.26%)
Close of Nov 06, 2026 · end-of-day data
Source: Palo Alto Networks's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue$1.76B$2.27B$2.90B$3.41B$4.26B$5.50B$6.89B$8.03B$9.22B$11.48B
Cost of revenue$476.40M$645.10M$808.40M$999.50M$1.27B$1.72B$1.91B$2.06B$2.45B$3.40B
Gross profit$1.28B$1.63B$2.09B$2.41B$2.98B$3.78B$4.98B$5.97B$6.77B$8.08B
Research & development$347.40M$400.70M$539.50M$768.10M$1.14B$1.42B$1.60B$1.81B$1.98B$2.55B
Operating income-$165.80M-$104.20M-$54.10M-$179.00M-$304.10M-$188.80M$387.30M$684.00M$1.24B$695.00M
Interest expense$24.50M$29.60M$83.90M$88.70M$163.30M$27.40M$27.20M$8.30M$3.00M$0
Pre-tax income-$180.10M-$105.30M-$74.60M-$231.80M-$465.00M-$207.20M$566.30M$988.00M$1.60B$536.00M
Income tax$22.90M$16.90M$7.30M$35.20M$33.90M$59.80M$126.60M-$1.59B$462.00M$229.00M
Net income-$203.00M-$122.20M-$81.90M-$267.00M-$498.90M-$267.00M$439.70M$2.58B$1.13B$307.00M
EBITDA-$106.00M-$7.80M$99.70M$27.10M-$43.70M$93.80M$669.50M$968.00M$1.59B$1.55B
EPS (basic)$-2.24$-1.33$-0.87$-2.76$-1.73$-0.90$0.73$4.04$1.71$0.41
EPS (diluted)$-2.24$-1.33$-0.87$-2.76$-1.73$-0.90$0.64$3.64$1.60$0.40
Diluted shares90.60M91.70M94.50M96.90M289.10M295.60M684.50M708.00M709.00M764.00M
Gross margin72.9%71.6%72.1%70.7%70.0%68.8%72.3%74.3%73.4%70.4%
Operating margin-9.4%-4.6%-1.9%-5.3%-7.1%-3.4%5.6%8.5%13.5%6.1%
Net margin-11.6%-5.4%-2.8%-7.8%-11.7%-4.9%6.4%32.1%12.3%2.7%

Balance sheet

fiscal years · USD
Fiscal yearFY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash & equivalents$744.30M$2.51B$961.40M$2.96B$1.87B$2.12B$1.14B$1.53B$2.27B$2.51B
Short-term investments—$896.50M$1.84B$789.80M$1.03B$1.52B$1.25B$1.04B$635.00M$557.00M
Receivables$432.10M$467.00M$582.40M$1.04B$1.24B$2.14B$2.46B$2.62B$2.96B$3.63B
Inventory———————$115.90M$113.00M$117.00M
Total current assets$1.98B$4.14B$3.66B$5.13B$4.65B$6.41B$6.05B$6.85B$7.52B$8.64B
Goodwill$238.80M$522.80M$1.35B$1.81B$2.71B$2.75B$2.93B$3.35B$4.57B$22.01B
Total assets$3.44B$5.95B$6.59B$9.07B$10.24B$12.25B$14.50B$19.99B$23.58B$48.46B
Total current liabilities$1.20B$2.10B$2.05B$2.69B$5.12B$8.31B$7.74B$7.68B$7.99B$9.92B
Long-term debt$524.70M$1.92B$1.43B$3.08B$3.23B$3.68B$1.99B———
Total debt$524.70M$1.92B$1.43B$3.08B$3.23B$3.68B$1.99B———
Total liabilities$2.68B$4.79B$5.01B$7.96B$9.48B$12.04B$12.75B$14.82B$15.75B$20.97B
Shareholders' equity$759.60M$1.16B$1.59B$1.10B$634.50M$210.00M$1.75B$5.17B$7.82B$27.49B

Cash flow

fiscal years · USD
Fiscal yearFY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow$868.80M$1.04B$1.06B$1.04B$1.50B$1.98B$2.78B$3.26B$3.72B$4.55B
Capital expenditures$163.40M$112.00M$131.20M$214.40M$116.00M$192.80M$146.30M$157.00M$247.00M$440.00M
Free cash flow$705.40M$926.10M$924.40M$821.30M$1.39B$1.79B$2.63B$3.10B$3.47B$4.11B
Investing cash flow-$472.60M-$520.00M-$1.83B$288.00M-$1.48B-$933.40M-$2.03B-$1.51B-$2.21B-$3.10B
Financing cash flow-$386.00M$1.25B-$773.90M$673.00M-$1.10B-$806.60M-$1.73B-$1.34B-$779.00M-$1.20B
Share buybacks$411.00M$259.10M$330.00M$1.20B$1.18B$892.30M$272.70M$567.00M$0$1.00B
Stock-based compensation$474.50M$496.70M$567.70M$658.40M$894.50M$1.01B$1.07B$1.08B$1.29B$1.77B
Depreciation & amortization$59.80M$96.40M$153.80M$206.10M$260.40M$282.60M$282.20M$284.00M$343.00M$855.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.