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Palo Alto Networks Inc (PANW) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

TECHNOLOGY · Systems Software · DATA UPDATED 2026-09-19

Palo Alto Networks Inc (PANW) operates in the Systems Software industry and is headquartered in Santa Clara, United States with about 21,921 employees. Its market capitalization is roughly $297 billion. In the fiscal year ended 2026-07-31, PANW reported $11.5B in revenue and $307M in net income.

Palo Alto Networks, Inc. provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan.

Interactive charts & full statements → Open the PANW valuation workbench →

PANW Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-07-31	2026-07-31	2025-07-31	2024-07-31	2023-07-31	2022-07-31	2021-07-31	2020-07-31	2019-07-31	2018-07-31	2017-07-31	2016-07-31	2015-07-31	2014-07-31	2013-07-31	2012-07-31	2011-07-31	2010-07-31	2009-07-31
Total Revenue	$11.5B	$11.5B	$9.2B	$8.0B	$6.9B	$5.5B	$4.3B	$3.4B	$2.9B	$2.3B	$1.8B	$1.4B	$928M	$598M	$396M	$255M	$119M	$49M	$13M
Gross Profit	$8.1B	$8.1B	$6.8B	$6.0B	$5.0B	$3.8B	$3.0B	$2.4B	$2.1B	$1.6B	$1.3B	$1.0B	$677M	$439M	$286M	$185M	$86M	$33M	$7M
Gross Margin %	70.4%	70.4%	73.4%	74.4%	72.3%	68.8%	70.0%	70.7%	72.1%	71.6%	73.0%	73.2%	72.9%	73.3%	72.3%	72.4%	72.8%	68.0%	53.0%
Operating Income (EBIT)	$695M	$695M	$1.2B	$684M	$387M	($189M)	($304M)	($179M)	($54M)	($104M)	($166M)	($157M)	($100M)	($215M)	($19M)	$4M	($10M)	($21M)	($19M)
Operating Margin %	6.0%	6.0%	13.5%	8.5%	5.6%	-3.4%	-7.1%	-5.2%	-1.9%	-4.6%	-9.4%	-11.4%	-10.8%	-36.0%	-4.7%	1.5%	-8.8%	-42.4%	-142.6%
Net Income	$307M	$307M	$1.1B	$2.6B	$440M	($267M)	($499M)	($267M)	($82M)	($148M)	($217M)	($226M)	($165M)	($226M)	($29M)	$1M	($13M)	($21M)	($19M)
Net Margin %	2.7%	2.7%	12.3%	32.1%	6.4%	-4.9%	-11.7%	-7.8%	-2.8%	-6.5%	-12.3%	-16.4%	-17.8%	-37.9%	-7.4%	0.3%	-10.6%	-43.3%	-142.3%
EBITDA	$536M	$536M	$1.9B	$1.3B	$869M	$96M	($47M)	$60M	$163M	$21M	($96M)	($106M)	($71M)	($201M)	($9M)	$9M	($8M)	($20M)	($18M)
Earnings Per Share (EPS)	$0.47	$0.40	$1.60	$3.64	$0.64	$-0.45	$-0.86	$-0.46	$-0.14	$-0.27	$-0.40	$-0.43	$-0.34	$-0.51	$-0.07	$0.01	$-0.03	$-0.06	$-0.06
Shares Outstanding (M)	764M	764M	709M	708M	685M	591M	578M	581M	567M	550M	544M	523M	490M	446M	412M	117M	386M	332M	332M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PANW Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-07-31	2026-04-30	2026-01-31	2025-10-31	2025-07-31	2025-04-30	2025-01-31	2024-10-31
Total Revenue	$3.4B	$3.0B	$2.6B	$2.5B	$2.5B	$2.3B	$2.3B	$2.1B
Gross Profit	$2.3B	$2.0B	$1.9B	$1.8B	$1.9B	$1.7B	$1.7B	$1.6B
Gross Margin %	67.6%	67.5%	73.6%	74.2%	73.2%	72.9%	73.5%	74.1%
Operating Income (EBIT)	$169M	($183M)	$400M	$309M	$497M	$219M	$240M	$286M
Operating Margin %	5.0%	-6.1%	15.4%	12.5%	19.6%	9.6%	10.7%	13.4%
Net Income	($282M)	($177M)	$432M	$334M	$254M	$262M	$267M	$351M
Net Margin %	-8.3%	-5.9%	16.7%	13.5%	10.0%	11.5%	11.8%	16.4%
EBITDA	($1.1B)	$327M	$775M	$501M	$676M	$399M	$413M	$453M
Earnings Per Share (EPS)	$-0.37	$-0.24	$0.61	$0.47	$0.36	$0.37	$0.38	$0.50
Shares Outstanding (M)	764M	744M	713M	709M	709M	707M	709M	709M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PANW Free Cash Flow History

Cash flow	TTM → 2026-04-30	2026-07-31	2025-07-31	2024-07-31	2023-07-31	2022-07-31	2021-07-31	2020-07-31	2019-07-31	2018-07-31	2017-07-31	2016-07-31	2015-07-31	2014-07-31	2013-07-31	2012-07-31	2011-07-31	2010-07-31	2009-07-31
Cash from Operations (CFO)	$4.2B	$4.6B	$3.7B	$3.3B	$2.8B	$2.0B	$1.5B	$1.0B	$1.1B	$1.0B	$868M	$658M	$350M	$88M	$115M	$77M	$32M	($3M)	($14M)
Capital Expenditures (CapEx)	$411M	$440M	$246M	$157M	$146M	$193M	$116M	$214M	$131M	$112M	$163M	$72M	$34M	$36M	$22M	$15M	$13M	$2M	$1M
Free Cash Flow (FCF)	$3.8B	$4.1B	$3.5B	$3.1B	$2.6B	$1.8B	$1.4B	$821M	$924M	$925M	$705M	$586M	$316M	$52M	$92M	$63M	$19M	($4M)	($15M)
FCF Margin %	33.1%	—	37.6%	38.6%	38.2%	32.6%	32.6%	24.1%	31.9%	40.7%	40.0%	42.5%	34.1%	8.7%	23.2%	24.6%	16.1%	-8.9%	-109.1%
Dividends Paid	—	—	—	—	$259M	$137M	$104M	$2.3B	$72M	$0M	$0M	$0M	$0M	$0M	$0M	—	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PANW Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-07-31	2026-04-30	2026-01-31	2025-10-31	2025-07-31	2025-04-30	2025-01-31	2024-10-31	2024-07-31
Cash from Operations (CFO)	$1.4B	$871M	$554M	$1.8B	$1.0B	$629M	$557M	$1.5B	$513M
Capital Expenditures (CapEx)	$103M	$83M	$84M	$84M	$160M	$68M	$48M	$44M	$47M
Free Cash Flow (FCF)	$1.3B	$788M	$470M	$1.7B	$861M	$560M	$509M	$1.5B	$465M
FCF Margin %	—	26.2%	18.1%	68.2%	33.9%	24.5%	22.6%	68.5%	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PANW Balance Sheet History

Balance sheet	2026-07-31	2026-07-31	2025-07-31	2024-07-31	2023-07-31	2022-07-31	2021-07-31	2020-07-31	2019-07-31	2018-07-31	2017-07-31	2016-07-31	2015-07-31	2014-07-31	2013-07-31	2012-07-31	2011-07-31	2010-07-31
Total Assets	$48.5B	$48.5B	$23.6B	$20.0B	$14.5B	$12.3B	$10.2B	$9.1B	$6.6B	$5.8B	$3.4B	$2.8B	$2.0B	$1.5B	$586M	$408M	$91M	$38M
Cash & Cash Equivalents	$2.5B	$2.5B	$2.3B	$1.5B	$1.1B	$2.1B	$1.9B	$3.0B	$961M	$2.5B	$744M	$734M	$376M	$654M	$311M	$323M	$41M	$19M
Total Liabilities	$21.0B	$21.0B	$15.8B	$14.8B	$12.8B	$12.0B	$9.5B	$8.0B	$5.0B	$4.8B	$2.7B	$2.0B	$1.4B	$1.0B	$313M	$179M	$163M	$104M
Total Debt (Short + Long-Term)	$0M	$0M	$0M	$1.1B	$2.0B	$3.7B	$3.2B	$3.1B	$1.4B	$1.9B	$1.0B	$1.0B	$487M	$528M	$36M	$0M	$13M	$8M
Total Shareholders' Equity	$27.5B	$27.5B	$7.8B	$5.2B	$1.7B	$210M	$764M	$1.1B	$1.6B	$988M	$760M	$790M	$576M	$469M	$272M	$229M	($71M)	($66M)

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive PANW viewer.

PANW Metric Deep Dives

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