Palo Alto Networks

Information Technology Systems Software Santa Clara, California Last filing Aug 29, 2025 · FY2025

                    Revenue
                    FY2025
                
$9.2B
                    3y CAGR +18.8%
                    
                    P86
                    
                    +14.9%
                    
                    Net income
                    FY2025
                
$1.1B
                    Net margin +12.3%
                    
                    P33
                    
                    -56.0%
                    
                    Total assets
                    FY2025
                
$23.6B
                    ROA +4.8%
                    
                    P21
                    
                    +17.9%
                    
                    Operating cash flow
                    FY2025
                
$3.7B
                    
                    +14.1%

15 yrs · FY2011–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

33 accounts · 10 years

Total assets $23.6B

Total liabilities $15.8B

Shareholders equity $7.8B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	+13.4%	+9.7%	+6.4%	+19.3%	+20.6%	+41.7%	+9.4%	+84.8%	+1.3%	—
Short Term Investments	+1.6%	+8.3%	+12.5%	+18.4%	+13.3%	+9.4%	+49.5%	+27.5%	+14.4%	—
Accounts Receivable	+26.8%	+28.7%	+32.2%	+35.3%	+28.9%	+31.3%	+18.6%	+15.7%	+23.9%	—
Prepaid Expenses	+15.7%	+18.9%	+18.8%	+6.9%	+10.4%	-0.3%	+26.0%	+38.5%	+21.1%	—
Other Current Assets	—	—	—	—	—	—	—	—	—	—
Total Current Assets	+17.4%	+18.4%	+19.1%	+23.9%	+21.2%	+30.4%	+27.4%	+52.7%	+11.4%	—
Property,Plant and Equipment	+14.2%	+15.1%	+17.1%	+20.4%	+22.1%	+31.3%	+36.2%	+52.7%	+80.1%	—
Operating Lease Assets	—	—	—	—	—	—	—	—	—	—
Goodwill	+44.8%	+45.9%	+51.0%	+60.0%	+75.3%	+82.5%	+102.2%	+78.8%	+46.1%	—
Intangible Assets	+37.3%	+30.7%	+32.5%	+43.5%	+62.5%	+68.9%	+85.4%	+78.9%	+22.0%	—
Long Term Investments	—	—	—	—	—	—	—	—	—	—
Deferred Tax Assets	—	—	—	—	—	—	—	—	—	—
Other Noncurrent Assets	+16.5%	+16.1%	+17.1%	+19.6%	+31.6%	+14.2%	+58.3%	+74.8%	+58.5%	—
Total Assets	+26.4%	+27.5%	+26.1%	+27.5%	+29.1%	+33.5%	+32.1%	+44.3%	+20.3%	—
Liabilities
Accounts Payable	+25.4%	+18.4%	+23.5%	+27.2%	+13.5%	+20.5%	+34.4%	+27.9%	+17.5%	—
Accrued Liabilities	+40.7%	+37.7%	+38.9%	+47.2%	+53.1%	+60.0%	+60.6%	+78.3%	+103.8%	—
Deferred Revenue	—	—	—	—	—	—	—	—	—	—
Current Portion of Long Term Debt	—	—	—	—	—	—	—	—	—	—
Operating Lease Liabilities	—	—	—	—	—	—	—	—	—	—
Total Current Liabilities	+28.3%	+31.7%	+37.2%	+46.3%	+43.3%	+33.5%	+34.3%	+57.5%	+41.9%	—
Long Term Debt	—	—	+21.8%	—	+27.2%	+57.6%	+41.9%	+65.5%	+4.9%	—
Deferred Revenue Noncurrent	—	—	—	—	—	—	—	—	—	—
Operating Lease Liabilities Noncurrent	—	—	—	—	—	—	—	—	—	—
Deferred Tax Liabilities	+8.0%	+61.8%	+32.5%	+35.3%	+34.8%	+37.7%	+45.3%	+61.2%	+22.3%	—
Other Noncurrent Liabilities	+30.8%	+23.5%	+1.2%	+5.3%	+4.2%	+3.2%	+39.6%	+70.0%	+85.9%	—
Total Liabilities	—	—	—	—	—	—	—	—	—	—
Equity
Preferred Stock	—	—	—	—	—	—	—	—	—	—
Common Stock	+14.9%	+12.3%	+10.3%	+4.1%	+8.8%	+10.5%	+18.0%	+13.9%	+5.6%	—
Retained Earnings	—	—	—	—	—	—	—	—	—	—
Treasury Stock	—	—	—	—	—	—	—	—	—	—
Accumulated Other Comprehensive Income	+53.9%	—	—	—	—	+80.0%	—	—	—	—
Total Stockholders Equity	+27.2%	+24.5%	+10.0%	-21.5%	-6.6%	+5.3%	+21.0%	+13.9%	-15.1%	—
Total Liabilitiesand Equity	—	—	—	—	—	—	—	—	—	—

Income Statement

Revenue, expense, and profitability

20 accounts · 10 years

Revenue $9.2B

Operating income $1.2B

Net income $1.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	—	—	—	—	—	—	—	—	—	—
Expenses Cost of Revenue	+23.4%	+23.9%	+26.4%	+29.2%	+28.1%	+28.2%	+29.8%	+32.0%	+28.8%	—
Expenses Research and Development	+24.1%	+26.0%	+28.0%	+30.7%	+32.0%	+28.2%	+23.8%	+18.7%	+22.2%	—
Expenses Selling,General and Administrative	—	—	—	—	—	—	—	—	—	—
Expenses Depreciation and Amortization	+26.0%	+26.6%	+30.9%	+37.0%	+43.5%	+48.1%	+53.2%	+50.1%	+39.7%	—
Expenses Share Based Compensation	+14.2%	+13.4%	+15.5%	+17.1%	+17.9%	+13.8%	+13.1%	+12.5%	+20.8%	—
Expenses Operating Expenses	—	—	—	—	—	—	—	—	—	—
Other Income Expense Gross Profit	+23.6%	+24.9%	+25.6%	+24.6%	+24.2%	+24.3%	+27.5%	+27.1%	+26.8%	—
Other Income Expense Operating Income	—	—	—	—	—	—	—	—	—	—
Other Income Expense Interest Income	+51.2%	+56.6%	+58.8%	+10.0%	-0.7%	+47.3%	+99.4%	+75.5%	+67.0%	—
Other Income Expense Interest Expense	-20.4%	-12.2%	+2.2%	+2.7%	+47.5%	+39.5%	+53.1%	+12.5%	+4.7%	—
Other Income Expense Other Income/expense	+12.9%	—	—	—	—	-38.5%	—	+84.2%	+21.4%	—
Other Income Expense Income Before Tax	—	—	—	—	—	—	—	—	—	—
Income Tax Income Tax Expense	+41.4%	—	+29.8%	+19.6%	+10.7%	+14.6%	-29.0%	-9.0%	+12.3%	—
net Income net Income	—	—	—	—	—	—	—	—	—	—
net Income Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Earnings Per Share Basic Eps	—	—	—	—	—	—	—	—	—	—
Earnings Per Share Diluted Eps	—	—	—	—	—	—	—	—	—	—
Earnings Per Share Weighted Average Shares Basic	+25.3%	+17.6%	+19.5%	+22.6%	+27.1%	+2.7%	+2.8%	+2.6%	+4.0%	—
Earnings Per Share Weighted Average Shares Diluted	—	—	—	—	—	—	—	—	—	—

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 10 years

Operating cash flow $3.7B

Investing cash flow $-2.2B

Financing cash flow $-778.9M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	—	—	—	—	—	—	—	—	—	—
Operating Activities Depreciation and Amortization	+26.0%	+26.6%	+30.9%	+37.0%	+43.5%	+48.1%	+53.2%	+50.1%	+39.7%	—
Operating Activities Stock Based Compensation	—	—	—	—	—	—	—	—	—	—
Operating Activities Deferred Income Taxes	—	—	—	—	—	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	+26.2%	+39.6%	+46.8%	+57.7%	+49.2%	+61.8%	+56.0%	+126.5%	+313.8%	—
Operating Activities net Cash From Operating Activities	+21.2%	+22.1%	+22.8%	+20.2%	+17.9%	+12.0%	+17.0%	+25.5%	+31.9%	—
Investing Activities Business Acquisitions	—	—	—	—	—	—	—	—	—	—
Investing Activities Purchases of Investments	—	—	—	—	—	—	—	—	—	—
Investing Activities Proceeds From Sale of Investments	+10.9%	+14.5%	+23.9%	+10.1%	+14.6%	+32.8%	+48.5%	+4.9%	+23.7%	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities Repayment of Debt	—	—	—	—	—	—	—	—	—	—
Financing Activities Repurchase of Common Stock	—	—	—	—	—	—	—	—	—	—
Financing Activities Proceeds From Stock Issuance	+26.3%	+25.8%	+28.3%	+20.2%	+18.1%	+16.7%	+16.5%	+7.8%	+2.4%	—
Financing Activities Tax Withholding On Stock Based Compensation	—	—	—	—	—	—	—	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—	+103.9%	—	+465.9%	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	+8.3%	+1.5%	—	-6.2%	—	+53.6%	—	+121.8%	-97.2%	—
Cash Reconciliation Cash At Beginning of Period	+13.4%	+9.7%	+6.4%	+19.3%	+20.6%	+41.7%	+9.4%	+84.8%	+1.3%	—
Cash Reconciliation Cash At End of Period	+13.4%	+9.7%	+6.4%	+19.3%	+20.6%	+41.7%	+9.4%	+84.8%	+1.3%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+73.4%	+74.3%	+72.3%	+68.8%	+70.0%	+70.7%	+72.1%	+71.6%	+72.9%	—
Operating margin	+13.5%	+8.5%	+5.6%	-3.4%	-7.1%	-5.3%	-1.9%	-4.6%	-9.4%	—
Net margin	+12.3%	+32.1%	+6.4%	-4.9%	-11.7%	-7.8%	-2.8%	-5.4%	-11.6%	—
FCF margin	—	—	—	—	—	—	—	—	—	—
Growth
Revenue CAGR (3y)	+18.8%	+23.6%	+26.5%	+23.8%	+23.2%	+24.8%	—	—	—	—
Returns
ROE	+14.5%	+49.9%	+25.1%	-127.1%	-78.6%	-24.2%	-5.2%	-10.5%	-26.7%	-21.5%
ROA	+4.8%	+12.9%	+3.0%	-2.2%	-4.9%	-2.9%	-1.2%	-2.1%	-5.9%	-6.7%
ROIC	+15.9%	+14.9%	+6.5%	-10.7%	-15.3%	-14.6%	-2.6%	-18.2%	-30.7%	-23.8%
Liquidity
Current ratio	0.94x	0.89x	0.78x	0.77x	0.91x	1.91x	1.78x	1.97x	1.65x	2.09x
Quick ratio	0.66x	0.54x	0.47x	0.51x	0.61x	1.48x	0.75x	1.41x	0.98x	1.28x
Leverage
D/E	2.01x	2.87x	7.29x	57.35x	14.94x	7.23x	3.16x	4.13x	3.53x	2.19x
Interest coverage	414.30x	82.40x	14.24x	-6.89x	-1.86x	-2.02x	-0.64x	-3.52x	-6.77x	-6.72x
Efficiency
Asset turnover	0.39x	0.40x	0.48x	0.45x	0.42x	0.38x	0.44x	0.38x	0.51x	—
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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Palo Alto Networks

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