PANW

Palo Alto Networks
D

PANW

Arincen63/100B

If you had invested in Palo Alto Networks ago, it would be worth $12,410 today, against $4,096 in SPY and $6,368 in QQQ.

ArincenArincen ScoreBeta

63/100

Six parts of the company, five checks each, from its own reported figures. A part scores the checks it passes out of 10; the score is their average out of 100.

Profitability2

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Cash10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Valuation6.7

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Growth10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Financial strength6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Shareholders3.3

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Figures to FY2026; the price as of today.

Palo Alto Networks key facts

Style
Growth stock · 7.3/10Growth 7.3 · Value 3.2
Day range
316.61 – 332.46
52-week range
139.57 – 432.33
Market capitalization
260.94B USD
P/E
693.09
PEG ratio
7.03
EPS
0.46
EPS growth forecast (FY2027)
+9.3%
Volume
63,030
Beta
0.97
ESG score
56.2/100Environment 47 · Social 53 · Governance 68
Sector
Technology
Industry
Software - Infrastructure
CEO
Nikesh Arora
Employees
22K
IPO date
20 Jul 2012

Palo Alto Networks earnings

Next earnings · Q1 FY2027
EPS estimate
0.97 USD
Revenue estimate
3.31B USD
Last quarter · Q4 FY2026
EPS1.02Beat +4.3%Revenue3.41BBeat +1.7%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q4 FY20271.18——+15.86%3.90B——+14.38%
Q3 FY20271.03——+20.64%3.55B——+18.12%
Q2 FY20271.01——-2.27%3.41B——+31.60%
Q1 FY20270.97——+4.52%3.31B——+33.67%
Q4 FY20260.981.02+4.29%+7.37%3.35B3.41B+1.74%+34.45%
Q3 FY20260.790.85+7.19%+6.25%2.94B3.00B+2.00%+31.15%
Q2 FY20260.941.03+9.69%+27.16%2.58B2.59B+0.43%+14.91%
Q1 FY20260.890.93+4.38%+19.23%2.46B2.47B+0.50%+15.66%
Q4 FY20250.890.95+7.34%+26.67%2.50B2.54B+1.39%+15.84%
Q3 FY20250.770.80+3.63%+21.21%2.28B2.29B+0.43%+15.33%

Analysts' estimates for FY2027 over the last 7 days:EPS Revenue How the estimates moved

Palo Alto Networks analyst forecast

12-month price target
400.05 USD
+25.48%

Analysts' 1-year price targets range from 290.00 to 525.00, with an average of 400.05.

Past year
1-year forecast
Strong sellStrong buy
Buy
39 ratings
Buy
31
Hold
7
Sell
1

12-month price target

Highest target525.00
Average target400.05
Lowest target290.00
Current price318.82

Palo Alto Networks valuation

Price to earnings ratio (TTM)
693.09
Forward P/E (FY2027)
76.19
Price to sales (TTM)
22.73
Price to book
9.49
EV / EBITDA (TTM)
169.07

Capital structure

Market capitalization
260.94B USD
+
Total debt
2.50B USD
−
Cash and short-term investments
3.07B USD
=
Enterprise value
260.37B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2029 (est.)56.69————
FY2028 (est.)65.6156.69———
FY2027 (est.)76.1965.61———
Now (TTM)693.0972.8122.739.49169.07
FY2026721.3779.3021.659.04178.67
FY2025101.5245.9612.4714.7058.27
FY202440.1949.5812.9120.0581.06
FY2023171.2154.9711.0043.3588.52
FY2022-188.0239.099.09238.12542.25

Palo Alto Networks against its own history

Each figure in the latest fiscal year against the same figure from FY2022 to FY2026: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: CrowdStrike Holdings, Oracle, Palantir Technologies, Cloudflare, Fortinet, and Synopsys, the US Software - Infrastructure companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • Gross marginBelow its median70.4%
    68.8%74.3%
    Against its peers: 6 of 7Peers' median 75.8%
  • Operating marginAt its median6.1%
    -3.4%13.5%
    Against its peers: 5 of 7Peers' median 21.8%
  • Net marginBelow its median2.7%
    -4.9%32.1%
    Against its peers: 5 of 7Peers' median 22.1%
  • Return on equityBelow its median1.1%
    -127.1%49.9%
    Against its peers: 5 of 7Peers' median 13.4%
  • Free cash flow marginBelow its median35.8%
    32.6%38.6%
    Against its peers: 2 of 7Peers' median 23.2%
  • Revenue growthAt its median24.5%
    14.9%29.3%
    Against its peers: 3 of 7Peers' median 19.5%
  • EPS growthLowest in 5 years-75.0%
    -75.0%468.8%
    Against its peers: 5 of 5Peers' median 20.9%
  • Debt to EBITDAAt its median1.80×
    0.17×41.35×
    Against its peers: 3 of 7Peers' median 4.58×
  • Current ratioAt its median0.87
    0.770.89
    Against its peers: 7 of 7Peers' median 1.69

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Palo Alto Networks growth and profitability

Revenue (TTM)
11.48B USD
Net income (TTM)
307.00M USD
Gross margin
70.36%
Operating margin
6.03%
Net margin
2.67%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY202611.48B+24.49%307.00M-72.93%70.36%6.05%2.67%1.39B-28.32%
FY20259.22B+14.87%1.13B-56.01%73.41%13.48%12.30%1.94B+52.04%
FY20248.03B+16.46%2.58B+486.22%74.35%8.52%32.11%1.28B+46.88%
FY20236.89B+25.29%439.70M—72.29%5.62%6.38%869.00M+809.00%
FY20225.50B+29.26%-267.00M—68.76%-3.43%-4.85%95.60M—

Palo Alto Networks revenue breakdown

By product

FY2026
Subscription: 54.3%Support: 25.8%Product: 19.9%54.3%Subscription25.8%Support19.9%Product
SegmentRevenueShare of revenueChange on the year
Subscription6.24B54.3%+25.4%
Support2.96B25.8%+21.1%
Product2.28B19.9%+26.5%

By region

FY2026
Americas: 66.9%EMEA: 21.1%Asia Pacific: 12.0%66.9%Americas21.1%EMEA12.0%Asia Pacific
RegionRevenueShare of revenueChange on the year
Americas7.68B66.9%+23.8%
EMEA2.43B21.1%+26.6%
Asia Pacific1.37B12.0%+24.9%

How Palo Alto Networks makes its money

Subscription6.24B 54.3%
Support2.96B 25.8%
Product2.28B 19.9%
Revenue11.48B 100.0%
Cost of revenue3.40B 29.6%
Gross profit8.08B 70.4%
Research and development2.55B 22.2%
Selling and administration4.83B 42.1%
Operating income695.00M 6.1%
Tax229.00M 2.0%
Other expense159.00M 1.4%
Net income307.00M 2.7%

FY2026, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Palo Alto Networks financial health

Cash and short-term investments
3.07B USD
Total debt
2.50B USD
Net cash
571.00M USD
Free cash flow (TTM)
4.11B USD
Current ratio
0.87
Debt to equity
0.09
Piotroski score
4 / 9
Altman Z-score
7.67

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY20263.07B2.50B4.11B
FY20252.90B338.20M3.47B
FY20242.58B1.34B3.10B
FY20232.39B2.27B2.63B
FY20223.63B3.95B1.79B

Palo Alto Networks ownership

Institutions
92.60%
Institutional holders
3,058 (+465)
Free float
99.09%

Who owns the shares

Institutions 92.6% Others 7.4%
As of 30 Jun 2026

Shares free to trade

Free float 810.98M shares ·99.1% Closely held 7.46M shares ·0.9%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

QuarterPurchasesSalesShares acquiredShares disposed of
Q4 20260491.81M937.91K
Q3 20260287.21K87.14K
Q2 20260370.001.04M
Q1 2026210186.72K238.87K

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY2026749.00M764.00M+7.71%
FY2025662.50M709.30M+0.18%
FY2024638.40M708.00M+3.42%
FY2023606.40M684.60M+15.84%
FY2022591.00M591.00M+2.18%

Source: Financial Modeling Prep

Related Instruments News

Title: Palo Alto Networks Inc

Sector: Technology
Industry: Software - Infrastructure
Palo Alto Networks is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, and security operations. The California-based firm has more than 80,000 enterprise customers across the world, including more than three-fourths of the Global 2000.

Common questions about Palo Alto Networks stock