PANW
$342.00-7.63%
as of close, Oct 16, 2026
☾ AH $342.00 -7.63%
PANW financial statements
The full income statement, balance sheet, and cash-flow statement for Palo Alto Networks Inc. (PANW), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-07 651.2M2024-10 656.2M2025-01 662.1M2025-04 666.8M2025-07 668.9M2025-10 697.0M2026-01 816.0M2026-04 815.0M2026-07 818.0M+25.6% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Income Statement | as ofJul 31 ’26 | as ofJul 31 ’25 | as ofJul 31 ’24 | as ofJul 31 ’23 | as ofJul 31 ’22 | |
| Revenue | 11.5B+24.5% | 9.22B+14.9% | 8.03B+16.5% | 6.89B+25.3% | 5.50B+29.3% | |
| 8.08B+19.3% | 6.77B+13.4% | 5.97B+19.8% | 4.98B+31.7% | 3.78B+26.9% | ||
| Cost of revenue | 3.40B+38.8% | 2.45B+19.0% | 2.06B+7.8% | 1.91B+11.1% | 1.72B+34.8% | |
| 7.38B+33.6% | 5.53B+4.6% | 5.28B+15.0% | 4.60B+15.7% | 3.97B+20.9% | ||
| Research & development | 2.55B+28.6% | 1.98B+9.6% | 1.81B+12.8% | 1.60B+13.1% | 1.42B+24.3% | |
| Selling, general & administrative | 899M+102.9% | 443M-34.9% | 680M+51.9% | 448M+10.5% | 405M+3.6% | |
| General & administrative | 899M+102.9% | 443M-34.9% | 680M+51.9% | 448M+10.5% | 405M+3.6% | |
| Selling & marketing | 3.93B+26.8% | 3.10B+11.0% | 2.79B+9.8% | 2.54B+18.4% | 2.15B+22.5% | |
| Amortization of intangibles | 75.0M | 0.00 | 0.00-100.0% | 105M-17.3% | 127M+7.7% | |
| Operating income | 695M-44.1% | 1.24B+81.7% | 684M+76.6% | 387M+305.1% | -189M+37.9% | |
| Interest expense | 0.00-100.0% | 3.00M-63.9% | 8.30M-69.5% | 27.2M-0.7% | 27.4M-83.2% | |
| Other non-operating income | 64.0M+156.0% | 25.0M+516.7% | -6.00M+41.7% | -10.3M-22.6% | -8.40M-1100.0% | |
| Gain (loss) on equity securities | — | 0.00 | 0.00 | 0.00 | 0.00 | |
| Pre-tax income | 536M-66.4% | 1.60B+61.5% | 988M+74.5% | 566M+373.3% | -207M+55.4% | |
| Income tax | 229M-50.4% | 462M+129.1% | -1.59B-1355.9% | 127M+111.7% | 59.8M+76.4% | |
| Net income | 307M-72.9% | 1.13B-56.0% | 2.58B+486.3% | 440M+264.7% | -267M+46.5% | |
| $0.40-75.0% | $1.60-56.0% | $3.64+468.8% | $0.64+242.2% | -$0.45+48.0% | ||
| EPS (basic) | $0.41-76.0% | $1.71-57.7% | $4.04+453.4% | $0.73+262.2% | -$0.45+48.0% | |
| Weighted-avg shares (basic) | 749M+13.0% | 663M+3.9% | 638M+5.2% | 606M+2.6% | 591M+2.2% | |
| Weighted-avg shares (diluted) | 764M+7.8% | 709M+0.1% | 708M+3.4% | 685M+15.8% | 591M+2.2% | |
| Balance Sheet | as ofJul 31 ’26 | as ofJul 31 ’25 | as ofJul 31 ’24 | as ofJul 31 ’23 | as ofJul 31 ’22 | |
| 8.64B+14.9% | 7.52B+9.8% | 6.85B+13.3% | 6.05B-5.7% | 6.41B+38.0% | ||
| Cash & equivalents | 2.51B+10.8% | 2.27B+47.8% | 1.53B+35.2% | 1.14B-46.4% | 2.12B+13.0% | |
| Short-term investments | 557M-12.3% | 635M-39.2% | 1.04B-16.8% | 1.25B-17.2% | 1.52B+47.6% | |
| Accounts receivable | 3.63B+22.4% | 2.96B+13.2% | 2.62B+6.3% | 2.46B+15.0% | 2.14B+72.7% | |
| Inventory | 117M+3.5% | 113M-2.5% | 116M | — | — | |
| Prepaid expenses | 807M+55.2% | 520M-6.7% | 557M+19.4% | 467M+123.5% | 209M-8.9% | |
| 48.5B+105.5% | 23.6B+17.9% | 20.0B+37.9% | 14.5B+18.3% | 12.3B+19.6% | ||
| Property, plant & equipment | 523M+35.1% | 387M+7.2% | 361M+1.9% | 355M-0.9% | 358M+12.4% | |
| Operating lease right-of-use | 700M+101.7% | 347M-10.1% | 386M+46.6% | 263M+8.8% | 242M-7.9% | |
| Goodwill | 22.0B+381.9% | 4.57B+36.3% | 3.35B+14.5% | 2.93B+6.5% | 2.75B+1.4% | |
| Intangible assets | 7.02B+819.7% | 763M+103.5% | 375M+18.9% | 315M-18.0% | 385M-22.9% | |
| Long-term investments | 4.83B-13.0% | 5.55B+33.1% | 4.17B+36.9% | 3.05B+189.8% | 1.05B+18.4% | |
| Deferred tax assets | 2.44B+0.8% | 2.42B+1.0% | 2.40B+10285.3% | 23.1M | — | |
| Other non-current assets | 678M+60.7% | 422M+19.6% | 353M+9.7% | 322M+2.9% | 313M-25.8% | |
| 9.92B+24.2% | 7.99B+4.0% | 7.68B-0.7% | 7.74B-6.8% | 8.31B+62.3% | ||
| Accounts payable | 290M+25.0% | 232M+99.5% | 116M-12.1% | 132M+3.4% | 128M+125.0% | |
| Accrued liabilities | 838M-0.9% | 846M+67.0% | 507M+29.7% | 391M-2.1% | 399M+21.2% | |
| Deferred revenue | 7.75B+22.9% | 6.30B+13.7% | 5.54B+18.5% | 4.67B+28.4% | 3.64B+32.8% | |
| Current lease liability | 67.0M-15.4% | 79.2M+20.2% | 65.9M+9.5% | 60.2M-3.4% | 62.3M-5.3% | |
| 21.0B+33.1% | 15.8B+6.3% | 14.8B+16.2% | 12.8B+5.9% | 12.0B+27.1% | ||
| Long-term debt | — | — | — | 1.99B-45.8% | 3.68B+14.0% | |
| Deferred revenue (non-current) | 7.01B+8.7% | 6.45B+8.6% | 5.94B+28.5% | 4.62B+37.8% | 3.35B+46.9% | |
| Non-current lease liability | 726M+114.8% | 338M-11.2% | 381M+36.3% | 279M+1.1% | 276M-11.9% | |
| Operating lease liability (total) | 793M+90.0% | 417M-6.5% | 446M+31.5% | 339M+0.3% | 338M-10.8% | |
| Deferred tax liabilities | 251M+182.0% | 89.0M-77.0% | 388M+1279.7% | 28.1M | — | |
| Other non-current liabilities | 1.28B+44.9% | 887M+105.8% | 431M+400.5% | 86.1M-20.6% | 108M+11.0% | |
| 27.5B+251.4% | 7.82B+51.4% | 5.17B+195.7% | 1.75B+732.4% | 210M-66.9% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Retained earnings | 2.79B+12.4% | 2.48B+84.0% | 1.35B+210.0% | -1.23B+26.4% | -1.67B-0.0% | |
| Accumulated other comprehensive income | -71.0M-247.9% | 48.0M+3100.0% | -1.60M+96.3% | -43.2M+22.3% | -55.6M-461.6% | |
| Total equity incl. non-controlling | — | — | — | 1.75B+732.6% | 210M-66.9% | |
| Total liabilities & equity | 48.5B+105.5% | 23.6B+17.9% | 20.0B+37.9% | 14.5B+18.3% | 12.3B+19.6% | |
| Common shares issued | 815M+22.0% | 668M+2.7% | 650M+5.4% | 617M+3.2% | 598M+2.4% | |
| Common shares outstanding | 815M+22.0% | 668M+2.7% | 650M+5.4% | 617M+3.2% | 598M+2.4% | |
| Shares outstanding (cover) | 818M+22.3% | 669M+2.7% | 651M+5.5% | 617M+3.1% | 598M+2.4% | |
| Cash Flow | as ofJul 31 ’26 | as ofJul 31 ’25 | as ofJul 31 ’24 | as ofJul 31 ’23 | as ofJul 31 ’22 | |
| 4.55B+22.5% | 3.72B+14.1% | 3.26B+17.3% | 2.78B+39.9% | 1.98B+32.0% | ||
| Depreciation & amortization | 855M+149.3% | 343M+20.8% | 284M+0.6% | 282M-0.1% | 283M+8.5% | |
| Intangible amortization | 75.0M | 0.00 | 0.00-100.0% | 105M-17.3% | 127M+7.7% | |
| Share-based compensation | 1.77B+37.0% | 1.29B+20.4% | 1.08B+0.1% | 1.07B+6.3% | 1.01B+13.0% | |
| Deferred income taxes | — | 219M+112.9% | -1.70B | — | — | |
| Change in receivables | 335M-2.9% | 345M+122.6% | 155M-51.6% | 320M-64.5% | 902M+423.2% | |
| Change in payables | 43.0M-59.8% | 107M+813.3% | -15.0M-1600.0% | 1.00M-98.6% | 69.3M+687.3% | |
| -3.10B-40.8% | -2.21B-46.0% | -1.51B+25.8% | -2.03B-117.9% | -933M+37.0% | ||
| Capital expenditure | 440M+78.1% | 247M+57.3% | 157M+7.3% | 146M-24.1% | 193M+66.2% | |
| Free cash flow | 4.11B+18.6% | 3.47B+11.9% | 3.10B+17.9% | 2.63B+46.8% | 1.79B+29.2% | |
| Acquisitions | 4.66B+342.4% | 1.05B+72.5% | 611M+198.8% | 205M+452.7% | 37.0M-95.2% | |
| Purchases of investments | 3.69B-0.1% | 3.70B+4.1% | 3.55B-35.0% | 5.46B+140.4% | 2.27B+16.0% | |
| Sales/maturities of investments | 2.20B+38.2% | 1.59B-13.9% | 1.85B-34.1% | 2.81B+151.3% | 1.12B-9.8% | |
| -1.20B-54.3% | -779M+42.0% | -1.34B+22.2% | -1.73B-114.0% | -807M+26.9% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 1.00B | 0.00-100.0% | 567M+107.9% | 273M-69.4% | 892M-24.3% | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| FX effect on cash | -3.00M | 0.00 | 0.00 | — | — | |
| Net change in cash | 244M-66.7% | 732M+80.7% | 405M+141.2% | -983M-501.6% | 245M+122.6% | |
| Income taxes paid | 199M-60.6% | 505M+47.7% | 342M+132.5% | 147M+325.1% | 34.6M+39.0% | |
| Valuation Ratios | as ofJul 31 ’26 | as ofJul 31 ’25 | as ofJul 31 ’24 | as ofJul 31 ’23 | as ofJul 31 ’22 | |
| Market cap | 271B+133.8% | 116B+9.8% | 106B+37.1% | 77.1B+55.1% | 49.7B+28.0% | |
| P/E | 884.2×+763.4% | 102.4×+149.7% | 41.0×-76.6% | 175.4× | — | |
| P/S | 23.6×+87.8% | 12.6×-4.4% | 13.2×+17.7% | 11.2×+16.4% | 9.6×-1.3% | |
| P/B | 9.9×-33.5% | 14.8×-27.4% | 20.5×-53.6% | 44.1×-70.0% | 147.3×+278.0% | |
| P/FCF | 66.0×+97.2% | 33.5×-1.8% | 34.1×+16.3% | 29.3×-15.3% | 34.6×+23.9% | |
| Earnings yield | 0.11%-88.4% | 0.98%-59.9% | 2.4%+327.7% | 0.57% | — | |
| FCF yield | 1.5%-49.3% | 3.0%+1.9% | 2.9%-14.0% | 3.4%+18.1% | 2.9%-19.3% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: PANW’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all PANW filings on SEC EDGAR → Not investment advice.