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PANW.NASDAQ
Palo Alto Networks
Information Technology · Systems Software

Cybersecurity platform company spanning network, cloud, and SOC operations as cyber risk becomes a core infrastructure concern.

HQ: United StatesListed: United States

Profile & Fundamentals

Palo Alto Networks: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.

Profile & Fundamentals

Palo Alto Networks Profile & Fundamentals

Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.

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Profile & Fundamentals contents

Company and Market Context

Company Profile & Ownership

Palo Alto Networks, Inc. provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It offers Prisma Access, a secure access service edge solution; Strata Cloud Manager, a network security management solution; and Prisma AIRS to protect customers' entire AI ecosystem. It provides a comprehensive cloud native application protection platform; and Code to Cloud platform, as well as offers VM-Series and CN-Series virtual firewalls for inline network security on multi- and hybrid-cloud environments. It provides security operation solutions through the Cortex platform that includes Cortex XSIAM, an AI-driven security operations platform; Cortex XDR to prevent, detect, and respond to cybersecurity attacks; and Cortex XSOAR for security orchestration, automation, and response; and Cortex Xpanse for attack surface management, as well as offers threat intelligence and advisory services under the Unit 42 name. It provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline; and threat intelligence, data loss prevention, services to resolve network disruptions, and sensitive data protection. It offers professional services, including architecture design and planning, implementation, configuration, and firewall migration; education services, such as certifications, as well as online and in-classroom training; and support services. It sells its products and services through its channel partners, as well as directly to enterprises, service providers, and government entities operating in various industries, including education, energy, financial services, government entities, healthcare, Internet and media, manufacturing, public sector, and telecommunications. The company was incorporated in 2005 and is headquartered in Santa Clara, California.

PANW.NASDAQ

Company profile record

Palo Alto Networks Inc

Common Stock · Information Technology · Systems Software

Official website

Company

Company / asset
Palo Alto Networks Inc
Security type
Common Stock
Sector
Information Technology
Industry
Systems Software
HQ
🇺🇸 United States
Head office
3000 Tannery Way, Santa Clara, CA, United States, 95054

Leadership & scale

Chief executive
Mr. Nikesh Arora C.F.A.
CEO year born
1968
Full-time employees
21.9K
Fiscal year end
July
IPO date
2012-07-20

Fundamentals snapshot

Updated 2026-09-28
Market Cap
USD 320.8B
P/E
1045.0x
Revenue (Q3 26)
USD 3.4B
Profit (Q3 26)
USD -282.0M
Dividend Yield
--
Revenue (FY 26)
USD 11.5B
Shares in public float
811.3M
Insider ownership
0.76%

Reporting & identifiers

Symbol
PANW.NASDAQ
Listing
🇺🇸 United States | Dividend Tax: 30%
Ticker Currency
USD
Income Statement Currency
USD
Balance Sheet Currency
USD
Cash Flow Currency
USD
EPS Currency
USD
Contract Type
SPOT
ISIN
US6974351057
Asset ID
equity_2faa504c-f498-5d12-89e6-4da3e57868c5

Ownership

Shares Outstanding

Latest: 764.0M | Max: 764.0M | Min: 545.4M

Shares Outstanding
962.6M722.0M481.3M240.7M0.00
764.0M
'17
'19
'21
'23
'25
'26

Latest reported ownership snapshot

As of Oct 1, 2026

Float Shares

106.19%

811.3M latest reported shares

Insider Ownership

0.76%

Latest reported insider stake

Short Float

0.03%

Latest reported short interest / float

Top Holders

Top 5 concentration: 26.76%
BlackRock Inc
institution
Filed 2026-03-31 • Change +6.9M (+10.60%)
8.85%(72.4M shares)
Vanguard Capital Management, LLC
institution
Filed 2026-03-31 • Change +52.8M (0.00%)
6.45%(52.8M shares)
State Street Corp
institution
Filed 2026-03-31 • Change +3.3M (+10.15%)
4.34%(35.5M shares)
Morgan Stanley - Brokerage Accounts
institution
Filed 2026-03-31 • Change -164.1K (-0.51%)
3.95%(32.3M shares)
Vanguard MStar Total Stk Mkt Idx Invest
fund
Filed 2026-08-31 • Change -51.3K (-0.20%)
3.17%(25.9M shares)
Amvescap Plc.
institution
Filed 2026-03-31 • Change +2.3M (+10.69%)
2.93%(23.9M shares)
Bank of America Corp
institution
Filed 2026-03-31 • Change +961.7K (+4.47%)
2.75%(22.5M shares)
Source tablesView ownership tables

Shares Outstanding

Annual reported shares outstanding; up to 10 reporting dates.

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Shares outstanding — reported values
Reporting dateShares outstanding
2017-01-01545,400,000
2018-01-01562,800,000
2019-01-01579,600,000
2020-01-01573,000,000
2021-01-01585,800,000
2022-01-01676,800,000
2023-01-01699,600,000
2024-01-01709,000,000
2025-01-01709,000,000
2026-01-01764,000,000

Top Holders

Available reported ownership records.

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Largest reported holders
HolderSharesOwnershipReported date
BlackRock Inc72,431,4338.85%2026-03-31
Vanguard Capital Management, LLC52,765,6566.45%2026-03-31
State Street Corp35,486,3184.34%2026-03-31
Morgan Stanley - Brokerage Accounts32,318,9583.95%2026-03-31
Vanguard MStar Total Stk Mkt Idx Invest25,932,4023.17%2026-08-31
Amvescap Plc.23,928,4232.93%2026-03-31
Bank of America Corp22,476,7532.75%2026-03-31
Vanguard 500 Index Investor21,546,2562.63%2026-08-31
Vanguard Portfolio Management, LLC19,601,4622.4%2026-03-31
Geode Capital Management, LLC19,323,5152.36%2026-03-31
Invesco QQQ Trust17,553,5692.15%2026-08-31
JPMorgan Chase & Co13,469,3361.65%2026-03-31
iShares Core S&P 500 ETF10,799,4231.32%2026-08-31
Fidelity 500 Index10,487,0781.28%2026-07-31
State Street® SPDR® S&P 500® ETF9,939,0981.22%2026-08-31

Earnings, Profitability & Valuation

Earnings, Profitability & Valuation

Earnings & Revenue

Earnings and Revenue Trajectory

AI Review

Palo Alto Networks presents two very different financial faces. For fiscal 2026, revenue surged 24.5% to $11.48 billion as corporate clients embraced multi-pillar security bundles. However, reported GAAP net income collapsed 72.9% to $307 million, weighed down by the expensive takeover of CyberArk, restructuring charges, and heavy research spending. This divergence shows that headline growth was partly bought through corporate mergers rather than purely organic expansion. In contrast, cash generation tells a much stronger story. Free cash flow climbed to $4.11 billion, delivering an impressive 35.8% cash margin. Because corporate clients pay multi-year contracts upfront, the company collects substantial cash before delivering services. While cash flow provides exceptional operational stability, heavy employee stock awards and transaction expenses continue eating into true profits for outside shareholders.

Revenue, Net Income, and Free Cash Flow

Latest: USD 11.5B | Max: USD 11.5B | Min: USD -498.9M

RevenueFree Cash FlowNet Income
USD 14.6BUSD 10.5BUSD 6.3BUSD 2.2BUSD 0.00USD -1.9B
11.5B
4.1B
307.0M
'17
'19
'21
'23
'25
'26

Valuation

P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.

Latest: >100x

>100x>100x>100x>100x0x
>100x
'23'25'26

Profitability & Margins

Margins and Operating Efficiency

AI Review

Profitability margins exhibit sharp divergence depending on which accounting metrics are examined. Gross profit margin softened from 73.4% down to 70.4% in fiscal 2026, driven by higher cloud-computing costs required to process massive artificial intelligence security workloads. Concurrently, GAAP operating margin fell from 13.5% to 6.05% as acquisition amortization and integration expenses temporarily burdened reported results. Despite depressed accounting profits, cash margins remained elite, with free cash flow margin reaching 35.8%. Management offered initial pricing discounts to encourage customers to consolidate onto its platform. As these multi-year promotional contracts mature into full-priced renewals, operating leverage should gradually improve, though ongoing stock grants and cloud hosting expenses will prevent margins from expanding effortlessly.

Profitability Margins

Latest: 70.4% | Max: 74.3% | Min: -12.3%

Gross MarginOperating MarginNet Margin
96.9%67.0%37.1%0.0%-22.7%
70.4%
6.1%
2.7%
'17
'19
'21
'23
'25
'26

Latest Profitability Ratios as of 2026-07-31

Gross Margin

70.4%

Gross profit / revenue

Operating Margin

6.1%

Operating income / revenue

Net Margin

2.7%

Net income / revenue

FCF Margin

35.8%

Free cash flow / revenue

Source tablesView earnings, profitability & valuation tables

Revenue, Net Income, and Free Cash Flow

Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.

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Annual earnings and cash flow
Period endRevenue (USD)Net income (USD)Free cash flow (USD)
2017-07-311,761,600,000-216,600,000705,100,000
2018-07-312,273,100,000-147,900,000925,000,000
2019-07-312,899,600,000-81,900,000924,400,000
2020-07-313,408,400,000-267,000,000821,300,000
2021-07-314,256,100,000-498,900,0001,387,000,000
2022-07-315,501,500,000-267,000,0001,791,900,000
2023-07-316,892,700,000439,700,0002,631,200,000
2024-07-318,027,500,0002,577,600,0003,100,800,000
2025-07-319,221,500,0001,133,900,0003,469,800,000
2026-07-3111,480,000,000307,000,0004,113,000,000

Published P/E Ratio

Published valuation snapshots retain each observation's earnings basis.

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Published valuation snapshots
Period endP/E (times earnings)Earnings basis
2026-07-31825.79Trailing four quarters
2025-07-31108.52Trailing four quarters
2024-07-3189.32Trailing four quarters
2023-07-31397.71Annual net income

Profitability Margins

Matching annual reporting dates. Values are percentages.

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Annual profitability margins
Period endGross margin (%)Operating margin (%)Net margin (%)Free cash flow margin (%)
2017-07-3172.95-9.41-12.340.03
2018-07-3171.61-4.58-6.5140.69
2019-07-3172.12-1.87-2.8231.88
2020-07-3170.68-5.25-7.8324.1
2021-07-3170.05-7.15-11.7232.59
2022-07-3168.76-3.43-4.8532.57
2023-07-3172.295.626.3838.17
2024-07-3174.358.5232.1138.63
2025-07-3173.4113.4812.337.63
2026-07-3170.366.052.6735.83

Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-29.

Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.

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