Palo Alto Networks, Inc. logo

Palo Alto Networks, Inc.

PANW

NASDAQTechnologySoftware - Infrastructure

Previous close

$357.87

+$8.31 · +2.38%

Aug 21, 4:00 PM ET

PANW company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Sell

Trim exposure — unfavorable risk-reward

Valuation

14

Overpriced

Momentum

72

Gaining

Sentiment

44

Mixed

Risk resilience

59

Elevated Risk

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Company profile

Company website

Palo Alto Networks, Inc. is a global leader in providing advanced cybersecurity solutions. The company's core product line includes both hardware and software-based firewalls. It also offers Panorama, a sophisticated security management platform designed for centralized control of these firewall deployments, whether they are physical appliances, virtual instances, or situated in public or private cloud environments. Additionally, the firm provides virtual system upgrades to enhance the capacity of its physical firewall units. Complementing its core products, Palo Alto Networks delivers an extensive range of subscription services. These encompass robust threat prevention, protection against malware and advanced persistent threats, URL filtering, and security for both laptop and mobile devices. Further specialized subscriptions include DNS security, Internet of Things (IoT) security, SaaS security (via API and inline methods), threat intelligence, and data loss prevention. Beyond its product and subscription offerings, the company extends various expert services, such as cloud security, secure access solutions, security analytics and automation tools, and specialized cybersecurity consulting, often integrated with threat intelligence. Its professional services cover critical areas like architectural design and planning, system implementation, configuration, and seamless firewall migration. Educational resources, including certifications and both online and in-classroom training, are also available, alongside comprehensive support services. Palo Alto Networks distributes its security solutions both directly and through an extensive network of channel partners. Its diverse clientele primarily comprises medium to large-scale enterprises, service providers, and governmental organizations across a wide array of industries. These sectors include education, energy, financial services, healthcare, internet and media, manufacturing, the broader public sector, and telecommunications. Established in 2005, Palo Alto Networks maintains its corporate headquarters in Santa Clara, California.

Industry
Software - Infrastructure
Sector
Technology
Headquarters
US
CEO
Nikesh Arora
Listed since
Jul 20, 2012
Employees
21,491

Market position

Day range

Current $357.87

52-week range

Current $357.87

Open
$352.5
Previous close
$349.56
Volume
5.14M
0.7× average
Average volume
7.36M
Average daily volume
Market cap
291.66B USD
Beta
0.89
Market reference 1
50-day average
$335.84
+6.56% above average
200-day average
$226
+58.35% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
113.08B USD
EV / EBITDA
58.26×
Earnings yield
0.99%
Free cash flow yield
3.02%

Profitability & efficiency

Return on equity
14.49%
Return on assets
4.81%
Return on invested capital
5.67%

Financial health

Current ratio
0.89×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends83%49%14%-20%Gross margin, FY2021: 70.05%Gross margin, FY2022: 68.76%Gross margin, FY2023: 72.29%Gross margin, FY2024: 74.35%Gross margin, FY2025: 73.41%Operating margin, FY2021: -7.15%Operating margin, FY2022: -3.43%Operating margin, FY2023: 5.62%Operating margin, FY2024: 8.52%Operating margin, FY2025: 13.48%Net margin, FY2021: -11.72%Net margin, FY2022: -4.85%Net margin, FY2023: 6.38%Net margin, FY2024: 32.11%Net margin, FY2025: 12.30%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 70.05%. Gross margin FY2022 68.76%. Gross margin FY2023 72.29%. Gross margin FY2024 74.35%. Gross margin FY2025 73.41%. Operating margin FY2021 -7.15%. Operating margin FY2022 -3.43%. Operating margin FY2023 5.62%. Operating margin FY2024 8.52%. Operating margin FY2025 13.48%. Net margin FY2021 -11.72%. Net margin FY2022 -4.85%. Net margin FY2023 6.38%. Net margin FY2024 32.11%. Net margin FY2025 12.30%.

Income trends

Revenue

9.22B USD+14.87%

Operating income

1.24B USD+81.74%

Net income

1.13B USD-56.01%
Income trends across reported periods10.19B USD6.31B USD2.42B USD−1.47B USDRevenue, FY2021: 4.26B USDRevenue, FY2022: 5.5B USDRevenue, FY2023: 6.89B USDRevenue, FY2024: 8.03B USDRevenue, FY2025: 9.22B USDOperating income, FY2021: −304.1M USDOperating income, FY2022: −188.8M USDOperating income, FY2023: 387.3M USDOperating income, FY2024: 683.9M USDOperating income, FY2025: 1.24B USDNet income, FY2021: −498.9M USDNet income, FY2022: −267M USDNet income, FY2023: 439.7M USDNet income, FY2024: 2.58B USDNet income, FY2025: 1.13B USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 4.26B USD. Revenue FY2022 5.5B USD. Revenue FY2023 6.89B USD. Revenue FY2024 8.03B USD. Revenue FY2025 9.22B USD. Operating income FY2021 −304.1M USD. Operating income FY2022 −188.8M USD. Operating income FY2023 387.3M USD. Operating income FY2024 683.9M USD. Operating income FY2025 1.24B USD. Net income FY2021 −498.9M USD. Net income FY2022 −267M USD. Net income FY2023 439.7M USD. Net income FY2024 2.58B USD. Net income FY2025 1.13B USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue9.22B USD8.03B USD6.89B USD5.5B USD4.26B USD
Cost of goods sold2.45B USD2.06B USD1.91B USD1.72B USD1.27B USD
Gross profit6.77B USD5.97B USD4.98B USD3.78B USD2.98B USD
Research and development1.98B USD1.81B USD1.6B USD1.42B USD1.14B USD
Selling, general, and administrative3.54B USD3.48B USD2.99B USD2.55B USD2.14B USD
Operating expenses5.53B USD5.28B USD4.6B USD3.97B USD3.29B USD
Interest income363.5M USD317.9M USD224.4M USD15.6M USD8.5M USD
Interest expense3M USD8.3M USD27.2M USD27.4M USD163.3M USD
Depreciation and amortization343.4M USD283.3M USD282.2M USD282.6M USD260.4M USD
Operating income1.24B USD683.9M USD387.3M USD−188.8M USD−304.1M USD
Net income1.13B USD2.58B USD439.7M USD−267M USD−498.9M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
64%
7 beats, 4 misses, 0 met estimates
Average EPS surprise
-11.89%
11 comparable reports
Latest EPS result
0.85
Estimate 0.79 · Beat by 7.19%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates1.541.260.990.71Q4 '24MissQ1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26Estimate
Q4 2024, reported Nov 20, 2024: actual 0.78, estimate 1.48, surprise -47.30%, Miss. Q1 2025, reported Feb 13, 2025: actual 0.81, estimate 0.779, surprise +3.98%, Beat. Q2 2025, reported May 20, 2025: actual 0.8, estimate 0.772, surprise +3.63%, Beat. Q3 2025, reported Aug 18, 2025: actual 0.95, estimate 0.885, surprise +7.34%, Beat. Q4 2025, reported Nov 19, 2025: actual 0.93, estimate 0.891, surprise +4.38%, Beat. Q1 2026, reported Feb 17, 2026: actual 1.03, estimate 0.939, surprise +9.69%, Beat. Q2 2026, reported Jun 2, 2026: actual 0.85, estimate 0.793, surprise +7.19%, Beat. Q3 2026, reported Sep 1, 2026: actual —, estimate 0.977, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates3.48B2.99B2.49B1.99BQ4 '24BeatQ1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26Estimate
Q4 2024, reported Nov 20, 2024: actual 2.14B USD, estimate 2.12B USD, surprise +0.85%, Beat. Q1 2025, reported Feb 13, 2025: actual 2.26B USD, estimate 2.24B USD, surprise +0.71%, Beat. Q2 2025, reported May 20, 2025: actual 2.29B USD, estimate 2.28B USD, surprise +0.43%, Beat. Q3 2025, reported Aug 18, 2025: actual 2.54B USD, estimate 2.5B USD, surprise +1.39%, Beat. Q4 2025, reported Nov 19, 2025: actual 2.47B USD, estimate 2.46B USD, surprise +0.50%, Beat. Q1 2026, reported Feb 17, 2026: actual 2.59B USD, estimate 2.58B USD, surprise +0.43%, Beat. Q2 2026, reported Jun 2, 2026: actual 3B USD, estimate 2.94B USD, surprise +2.00%, Beat. Q3 2026, reported Sep 1, 2026: actual —, estimate 3.35B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$373.34

4.32% upside
Past 12 months12-month forecastHigh $475Average $373.34Low $290

Rating distribution

89 ratings
Strong buy00%
Buy6674%
Hold2124%
Sell22%
Strong sell00%

Corporate actions

Corporate action history

Stock split

Effective Dec 16, 2024

2:1

Stock split

Effective Sep 14, 2022

3:1

PANW peers

ETFs holding PANW

Funds reporting this stock among their holdings, ordered by reported position size.

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