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Palo Alto Networks PANW

US equityMarket cap rank #42Software - InfrastructureCybersecurity
$391.51
−$1.79 (-0.46%)
Market open · Sep 24, 2:00 pm ET
After hours $392.19 -0.28%
Open$392.44
Prev close$393.30
Day range$387.79 – $396.30
Volume2.49M
Market cap$320.26B
P/E (TTM)978.8
Dividend yield–

Fundamentals

Latest reported quarter: Q4, ended Jul 2026

Revenue$3.41B+34.5% YoY
Operating profit$172.00M-65.4% YoY
Net profit-$282.00M-211.0% YoY
Diluted EPS-$0.35-197.2% YoY
Free cash flow$1.25B+34.3% YoY
Operating cash flow$1.36B

Revenue, last 8 quarters

$2.1BOct '24$2.3BJan '25$2.3BApr '25$2.5BJul '25$2.5BOct '25$2.6BJan '26$3.0BApr '26$3.4BJul '26

Net profit, last 8 quarters

$351.0MOct '24$267.0MJan '25$262.0MApr '25$254.0MJul '25$334.0MOct '25$432.0MJan '26$-177.0MApr '26$-282.0MJul '26

Diluted EPS by quarter

0.49Oct '240.38Jan '250.37Apr '250.36Jul '250.47Oct '250.61Jan '26-0.22Apr '26-0.35Jul '26

Free cash flow by quarter

$1.5BOct '24$509.0MJan '25$560.0MApr '25$934.0MJul '25$1.7BOct '25$384.0MJan '26$788.0MApr '26$1.3BJul '26

Annual revenue

$4.3BFY21$5.5BFY22$6.9BFY23$8.0BFY24$9.2BFY25$11.5BFY26

Profitability & balance sheet

Gross margin70.4%
Operating margin6.1%
Net margin2.7%
Return on equity1.7%
Return on assets0.9%
Return on invested capital0.4%
Current ratio0.87
Liabilities / assets43.3%
Cash & investments$3.07B
Total debt$2.50B
Net cash (debt)$571.00M
Free cash flow / sales35.8%

Where the revenue comes from

Quarter 2026/Q3

By business line

  • Subscription$1.63B 54.4%
  • Support$776.00M 25.8%
  • Product$594.00M 19.8%

Income statement

Line item 2026 ANNUAL 2026 Q4 2026 Q3 2026 Q2 2026 Q1
Total Revenue as Reported $11.48B $3.41B $3.00B $2.59B $2.47B
Total Operating Revenue $11.48B $3.41B $3.00B $2.59B $2.47B
Cost of Revenue $3.40B $1.11B $974.00M $685.00M $638.00M
Gross Profit $8.08B $2.30B $2.03B $1.91B $1.84B
Operating Expense $7.38B $2.13B $2.21B $1.51B $1.53B
Selling and Admin Expenses $4.83B $1.35B $1.48B $1.00B $999.00M
-Selling & Marketing Expense $3.93B $1.13B $1.16B $823.00M $820.00M
-General & Admin Expense $899.00M $226.00M $316.00M $178.00M $179.00M
Research & Development $2.55B $779.00M $734.00M $511.00M $528.00M
Operating Profit $695.00M $172.00M -$183.00M $397.00M $309.00M
Net Non-Operating Interest Income (Expense) $374.00M $89.00M $71.00M $109.00M $105.00M
Non-Operating Interest Income $374.00M $89.00M $71.00M $109.00M $105.00M
Non-Operating Interest Expense $0.00 $0.00 $0.00 $0.00 $0.00
Other Income (Expense) -$533.00M -$530.00M -$44.00M $43.00M -$2.00M
Gain on Sale of Security $23.00M $65.00M -$15.00M -$16.00M -$11.00M
Other Non-Operating Income (Expenses) -$556.00M -$595.00M -$29.00M $59.00M $9.00M
Pretax Profit $536.00M -$269.00M -$156.00M $549.00M $412.00M
Tax $229.00M $13.00M $21.00M $117.00M $78.00M
Net Profit $307.00M -$282.00M -$177.00M $432.00M $334.00M
Profit from Continuing Operations $307.00M -$282.00M -$177.00M $432.00M $334.00M
Net Income to Parent Company $307.00M -$282.00M -$177.00M $432.00M $334.00M
Net Income to Common Stockholders $307.00M -$282.00M -$177.00M $432.00M $334.00M
Basic EPS $0.41 -$0.35 -$0.22 $0.61 $0.49
Diluted EPS $0.40 -$0.35 -$0.22 $0.61 $0.47

Balance sheet

Line item 2026 ANNUAL 2026 Q4 2026 Q3 2026 Q2 2026 Q1
Total Assets $48.46B $48.46B $46.27B $24.98B $23.54B
Total Current Assets $8.64B $8.64B $7.71B $8.37B $7.31B
Cash and Cash Equivalents & Short-Term Investments $3.07B $3.07B $3.11B $4.54B $4.21B
-Cash and Cash Equivalents $2.51B $2.51B $2.36B $4.16B $3.07B
-Short Term Investments $557.00M $557.00M $747.00M $378.00M $1.14B
Receivables $4.22B $4.22B $3.44B $2.79B $2.08B
-Accounts Receivable $3.63B $3.63B $2.85B $2.12B $1.34B
-Other Receivables $592.00M $592.00M $591.00M $672.00M $737.00M
Current Deferred Assets $544.00M $544.00M $454.00M $424.00M $415.00M
Other Current Assets $807.00M $807.00M $705.00M $621.00M $605.00M
Total Non-Current Assets $39.82B $39.82B $38.55B $16.61B $16.23B
Net PPE $1.22B $1.22B $1.18B $853.00M $747.00M
-Gross PPE $1.97B $1.97B $1.18B $853.00M $747.00M
-Accumulated Depreciation -$747.00M -$747.00M – – –
Investments and Advances $4.84B $4.84B $3.88B $3.36B $5.98B
-Available for Sale Securities $4.84B $4.84B – $3.36B $5.98B
Non Current Accounts Receivables $944.00M $944.00M $779.00M $870.00M $855.00M
Goodwill and Other Intangible Assets $29.03B $29.03B $29.19B $8.18B $5.29B
-Goodwill $22.01B $22.01B $21.90B $6.93B $4.57B
-Other Intangible Assets $7.02B $7.02B $7.28B $1.25B $723.00M
Non-Current Deferred Assets $3.11B $3.11B $2.93B $2.92B $2.96B
Other Non-Current Assets $678.00M $678.00M $593.00M $427.00M $390.00M
Total Liabilities $20.97B $20.97B $18.60B $15.59B $14.87B
Total Current Liabilities $9.92B $9.92B $9.01B $8.01B $7.42B
Payables $290.00M $290.00M $293.00M $262.00M $223.00M
-Accounts Payable $290.00M $290.00M $293.00M $262.00M $223.00M
Current Accrued Expenses $838.00M $838.00M $760.00M $937.00M $665.00M
Current Deferred Liabilities $7.75B $7.75B $7.11B $6.25B $6.13B
Total Non-Current Liabilities $11.05B $11.05B $9.59B $7.58B $7.45B
Long Term Debt and Capital Lease Obligation $2.50B $2.50B $1.91B $372.00M $346.00M
-Long Term Debt $1.77B $1.77B $1.19B – –
-Long Term Capital Lease Obligation $726.00M $726.00M $719.00M $372.00M $346.00M
Non-Current Deferred Liabilities $7.26B $7.26B $6.75B $6.26B $6.19B
Other Non-Current Liabilities $1.29B $1.29B $930.00M $949.00M $913.00M
Total Equity $27.49B $27.49B $27.67B $9.39B $8.67B
Stockholders' Equity $27.49B $27.49B $27.67B $9.39B $8.67B
Capital Stock $24.77B $24.77B $24.61B $6.10B $5.78B
-Common Stock $24.77B $24.77B $24.61B $6.10B $5.78B
-Preferred Stock $0.00 $0.00 $0.00 $0.00 $0.00
Retained Earnings $2.79B $2.79B $3.07B $3.25B $2.82B
Gains/Losses Not Affecting Retained Earnings -$71.00M -$71.00M -$13.00M $46.00M $67.00M
Short-Term Debt and Capital Lease Obligation – – $160.00M – –
-Current Debt – – $160.00M – –

Cash flow

Line item 2026 ANNUAL 2026 Q4 2026 Q3 2026 Q2 2026 Q1
Operating Cash Flow $4.55B $1.36B $871.00M $554.00M $1.77B
Net cash flow from continuing operations $4.55B $1.36B $871.00M $554.00M $1.77B
Net Income from Continuing Operations $307.00M -$282.00M -$177.00M $432.00M $334.00M
Gain/Loss from Continuing Operations $76.00M $13.00M $28.00M $17.00M $18.00M
Depreciation & Depletion & Amortization $855.00M $341.00M $334.00M $91.00M $89.00M
Deferred Tax -$19.00M -$57.00M $24.00M $5.00M $9.00M
Other Non-Cash Items $473.00M $183.00M $39.00M $138.00M $113.00M
Change in Working Capital $579.00M $176.00M -$57.00M -$385.00M $845.00M
-Change in Receivables -$154.00M -$942.00M -$251.00M -$708.00M $1.75B
-Change in Prepaid Assets -$139.00M -$92.00M -$2.00M -$12.00M -$33.00M
-Change in Payables and Accrued Expense $465.00M $446.00M $3.00M $281.00M -$265.00M
-Change In Other Working Capital $407.00M $764.00M $193.00M $54.00M -$604.00M
Net cash flow from investing -$3.10B -$1.01B -$1.77B $651.00M -$983.00M
Net Cash Flow from Continuing Investing Activities -$3.10B -$1.01B -$1.77B $651.00M -$983.00M
Net PPE Purchase and Sale -$440.00M -$103.00M -$83.00M -$170.00M -$84.00M
Net Business Purchase and Sale -$4.66B -$100.00M -$1.99B -$2.58B -$2.00M
Net Investment Purchase and Sale $2.00B -$803.00M $302.00M $3.40B -$897.00M
Financing Cash Flow -$1.20B -$197.00M -$899.00M -$114.00M $8.00M
Net Cash Flow from Continuing Financing Activities -$1.20B -$197.00M -$899.00M -$114.00M $8.00M
Net Issuance Payments Of Debt -$150.00M -$150.00M $0.00 $0.00 $0.00
Net Common Stock Issuance -$1.00B $0.00 – – –
Proceeds from Stock Option Exercised $265.00M $1.00M $126.00M $8.00M $130.00M
Net Other Financing Charges -$317.00M -$48.00M -$25.00M -$122.00M -$122.00M
Ending Cash Balance $2.52B $2.52B $2.37B $4.17B $3.08B
Net Change in Cash $247.00M $154.00M -$1.79B $1.09B $796.00M
Beginning Cash Balance $2.28B $2.37B $4.17B $3.08B $2.28B
Effect of Exchange Rate Changes -$3.00M -$5.00M – – –
Free Cash Flow $4.11B $1.25B $788.00M $384.00M $1.69B
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