PANW drawdown: 9.7% below the all-time high
Palo Alto Networks Inc. (PANW) is 9.7% below its all-time high, set Jul 17, 2026 (as of market close, Jul 24, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (2012).
- Below all-time high
- −9.7%
- 90.3% of ATH
- All-time high
- $358.7
- Jul 17, 2026
- Time below the high
- 7 days
- since Jul 17, 2026
- Worst-ever drawdown
- −48.0%
- Mar 18, 2020
- Longest underwater
- 2.8 yrs
- between all-time highs
- Today's level first reached
- Jun 29, 2026
- 25 days ago
- Last time this deep
- Jul 8, 2026
- in a previous episode
% of all-time high since 2012#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of PANW, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Feb 27, 2019 | Mar 18, 2020 | −48.0% | 13 mo | Jul 31, 2020 | 17 mo |
| Jul 23, 2015 | Apr 5, 2017 | −45.2% | 1.7 yrs | May 7, 2018 | 2.8 yrs |
| Sep 10, 2012 | Jun 24, 2013 | −44.9% | 9 mo | Feb 13, 2014 | 17 mo |
| Oct 28, 2025 | Feb 24, 2026 | −36.0% | 4 mo | May 13, 2026 | 6 mo |
| Apr 13, 2022 | Jan 10, 2023 | −36.0% | 9 mo | May 26, 2023 | 13 mo |
| Sep 12, 2018 | Nov 19, 2018 | −30.8% | 2 mo | Feb 27, 2019 | 6 mo |
| Feb 9, 2024 | Feb 21, 2024 | −30.5% | 12 days | Oct 21, 2024 | 8 mo |
| Feb 18, 2025 | Apr 7, 2025 | −26.8% | 48 days | Oct 2, 2025 | 7 mo |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 2012: how far PANW stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: PANW is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is PANW from its all-time high?
- PANW is currently 9.7% below its all-time high, set Jul 17, 2026 (as of market close, Jul 24, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest PANW drawdown ever?
- The deepest decline on record in our data (since 2012) took the stock 48.0% below its prior high, bottoming Mar 18, 2020. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 2012 (split-adjusted). "All-time" means since our price data begins — PANW may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.