PANW
Palo Alto Networks Inc
NASDAQ: PANW · TECHNOLOGY · SOFTWARE - INFRASTRUCTURE
$179.32
-1.22% today
Updated 2026-04-29
Market cap
$144.80B
P/E ratio
99.19
P/S ratio
14.64x
EPS (TTM)
$1.80
Dividend yield
—
52W range
$140 – $224
Volume
9.4M
Palo Alto Networks Inc (PANW) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.35M | $48.78M | $118.60M | $255.14M | $396.11M | $598.18M | $928.05M | $1.38B | $1.76B | $2.27B | $2.90B | $3.41B | $4.26B | $5.50B | $6.89B | $8.03B | $9.22B |
| Revenue growth (YoY) | — | +265.4% | +143.1% | +115.1% | +55.3% | +51.0% | +55.1% | +48.5% | +27.8% | +29.0% | +27.6% | +17.5% | +24.9% | +29.3% | +25.3% | +16.5% | +14.9% |
| Cost of revenue | $6.28M | $15.63M | $32.27M | $70.55M | $109.76M | $159.63M | $251.50M | $370.00M | $476.60M | $645.30M | $808.40M | $999.50M | $1.27B | $1.72B | $1.91B | $2.06B | $2.45B |
| Gross profit | $7.08M | $33.15M | $86.32M | $184.59M | $286.35M | $438.55M | $676.55M | $1.01B | $1.28B | $1.63B | $2.09B | $2.41B | $2.98B | $3.78B | $4.98B | $5.97B | $6.77B |
| Gross margin | 53.0% | 68.0% | 72.8% | 72.3% | 72.3% | 73.3% | 72.9% | 73.2% | 72.9% | 71.6% | 72.1% | 70.7% | 70.0% | 68.8% | 72.3% | 74.3% | 73.4% |
| R&D | $8.21M | $12.79M | $21.37M | $38.57M | $62.48M | $104.81M | $185.83M | $284.20M | $347.40M | $400.70M | $539.50M | $768.10M | $1.14B | $1.42B | $1.60B | $1.81B | $1.98B |
| SG&A | $2.54M | $11.29M | $13.11M | $26.21M | $42.72M | $73.10M | $101.60M | $138.40M | $198.30M | $257.80M | $261.80M | $299.60M | $391.10M | $405.00M | $447.70M | $680.50M | $442.70M |
| Operating income | $-19.04M | $-20.66M | $-10.40M | $3.89M | $-18.62M | $-215.30M | $-99.80M | $-157.30M | $-165.80M | $-104.20M | $-54.10M | $-179.00M | $-304.10M | $-188.80M | $387.30M | $683.90M | $1.24B |
| Operating margin | -142.6% | -42.3% | -8.8% | 1.5% | -4.7% | -36.0% | -10.8% | -11.4% | -9.4% | -4.6% | -1.9% | -5.3% | -7.1% | -3.4% | 5.6% | 8.5% | 13.5% |
| EBITDA | $-17.86M | $-19.53M | $-8.21M | $8.97M | $-8.69M | $-200.90M | $-70.70M | $-106.10M | $-95.80M | $20.70M | $163.10M | $59.50M | $-46.60M | $95.60M | $869.00M | $1.28B | $1.94B |
| EBITDA margin | -133.8% | -40.0% | -6.9% | 3.5% | -2.2% | -33.6% | -7.6% | -7.7% | -5.4% | 0.9% | 5.6% | 1.7% | -1.1% | 1.7% | 12.6% | 15.9% | 21.0% |
| EBIT | $-19.04M | $-20.66M | $-10.40M | $2.83M | $-18.58M | $-220.30M | $-99.60M | $-148.90M | $-155.60M | $-75.70M | $9.30M | $-146.60M | $-307.00M | $-187.00M | $586.80M | $993.10M | $1.60B |
| Interest expense | $47000.00 | $420000.00 | $1.65M | $2.20M | $35000.00 | $1.88M | $22.32M | $23.40M | $24.50M | $29.60M | $83.90M | $88.70M | $163.30M | $27.40M | $27.20M | $8.30M | $3.00M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-19.00M | $-21.13M | $-12.53M | $737000.00 | $-29.25M | $-226.45M | $-164.98M | $-225.90M | $-216.60M | $-147.90M | $-81.90M | $-267.00M | $-498.90M | $-267.00M | $439.70M | $2.58B | $1.13B |
| Net income growth (YoY) | — | -11.2% | +40.7% | +105.9% | -4068.2% | -674.3% | +27.1% | -36.9% | +4.1% | +31.7% | +44.6% | -226.0% | -86.9% | +46.5% | +264.7% | +486.2% | -56.0% |
| Profit margin | -142.3% | -43.3% | -10.6% | 0.3% | -7.4% | -37.9% | -17.8% | -16.4% | -12.3% | -6.5% | -2.8% | -7.8% | -11.7% | -4.9% | 6.4% | 32.1% | 12.3% |