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 · 5 years

Total assets $23.6B

Total liabilities $15.8B

Shareholders equity $7.8B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	+4.9%	-6.4%	-22.2%	+13.0%	—
Short Term Investments	-11.3%	+0.5%	+10.5%	+47.6%	—
Accounts Receivable	+24.3%	+28.3%	+40.9%	+72.7%	—
Prepaid Expenses	+22.7%	+34.5%	+42.7%	-8.9%	—
Other Current Assets	—	—	—	—	—
Total Current Assets	+12.8%	+13.8%	+14.1%	+38.0%	—
Property,Plant and Equipment	+5.0%	+4.3%	+5.5%	+12.4%	—
Operating Lease Assets	+7.2%	+13.6%	+0.1%	-7.9%	—
Goodwill	+13.9%	+7.3%	+3.9%	+1.4%	—
Intangible Assets	+11.2%	-9.1%	-20.5%	-22.9%	—
Long Term Investments	+58.1%	+67.5%	+85.2%	+18.4%	—
Deferred Tax Assets	—	—	—	—	—
Other Noncurrent Assets	+0.0%	-5.7%	-12.6%	-25.8%	—
Total Assets	+23.2%	+25.0%	+19.0%	+19.6%	—
Liabilities
Accounts Payable	+42.1%	+26.9%	+52.5%	+125.0%	—
Accrued Liabilities	+26.6%	+15.4%	+8.9%	+21.2%	—
Deferred Revenue	—	—	—	—	—
Current Portion of Long Term Debt	—	-14.8%	+13.1%	+136.0%	—
Operating Lease Liabilities	+50.6%	+0.1%	-4.3%	-5.3%	—
Total Current Liabilities	+11.8%	+14.5%	+23.0%	+62.3%	—
Long Term Debt	—	—	+9.3%	—	—
Deferred Revenue Noncurrent	—	—	—	—	—
Operating Lease Liabilities Noncurrent	+1.9%	+6.7%	-5.6%	-11.9%	—
Deferred Tax Liabilities	-18.1%	+119.4%	+26.9%	+37.8%	—
Other Noncurrent Liabilities	+73.6%	+64.0%	-6.1%	+11.0%	—
Total Liabilities	+13.5%	+16.1%	+16.0%	+27.1%	—
Equity
Preferred Stock	—	—	—	—	—
Common Stock	+23.0%	+18.2%	+14.3%	-16.4%	—
Retained Earnings	—	—	—	—	—
Treasury Stock	—	-21.6%	-53.9%	-22.3%	—
Accumulated Other Comprehensive Income	—	—	—	—	—
Total Stockholders Equity	+87.4%	+101.2%	+66.0%	-66.9%	—
Total Liabilitiesand Equity	+23.6%	+25.5%	+19.7%	+21.2%	—

Income Statement

Revenue, expense, and profitability

20 accounts · 5 years

Revenue $9.2B

Operating income $1.2B

Net income $1.1B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+21.3%	+23.6%	+27.3%	+29.3%	—
Expenses Cost of Revenue	+17.8%	+17.3%	+22.4%	+34.8%	—
Expenses Research and Development	+14.8%	+16.6%	+18.6%	+24.3%	—
Expenses Selling,General and Administrative	—	—	—	—	—
Expenses Depreciation and Amortization	+7.2%	+2.8%	+4.1%	+8.5%	—
Expenses Share Based Compensation	+9.7%	+6.3%	+9.6%	+13.0%	—
Expenses Operating Expenses	—	—	—	—	—
Other Income Expense Gross Profit	+22.8%	+26.0%	+29.3%	+26.9%	—
Other Income Expense Operating Income	—	—	—	—	—
Other Income Expense Interest Income	+155.7%	+234.4%	+413.8%	+83.5%	—
Other Income Expense Interest Expense	-63.2%	-63.0%	-59.2%	-83.2%	—
Other Income Expense Other Income/expense	—	—	—	—	—
Other Income Expense Income Before Tax	—	—	—	—	—
Income Tax Income Tax Expense	+92.1%	—	+93.2%	+76.4%	—
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	+23.0%	+3.4%	+2.4%	+2.2%	—
Earnings Per Share Weighted Average Shares Diluted	+25.2%	+7.0%	+8.8%	+2.2%	—

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 5 years

Operating cash flow $3.7B

Investing cash flow $-2.2B

Financing cash flow $-778.9M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	—	—	—	—	—
Operating Activities Depreciation and Amortization	+7.2%	+2.8%	+4.1%	+8.5%	—
Operating Activities Stock Based Compensation	—	—	—	—	—
Operating Activities Deferred Income Taxes	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	+2.3%	+24.9%	+41.0%	+108.0%	—
Operating Activities net Cash From Operating Activities	+25.4%	+29.4%	+35.9%	+32.0%	—
Investing Activities Business Acquisitions	+7.9%	-7.7%	-48.7%	-95.2%	—
Investing Activities Purchases of Investments	+17.2%	+21.9%	+67.0%	+16.0%	—
Investing Activities Proceeds From Sale of Investments	+6.5%	+14.3%	+50.5%	-9.8%	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—
Financing Activities Repayment of Debt	—	—	—	—	—
Financing Activities Repurchase of Common Stock	—	-21.6%	-51.9%	-24.3%	—
Financing Activities Proceeds From Stock Issuance	+37.4%	+39.8%	+57.7%	+31.3%	—
Financing Activities Tax Withholding On Stock Based Compensation	+58.9%	-2.6%	-15.8%	+74.7%	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—
Cash Reconciliation net Change In Cash	—	—	—	—	—
Cash Reconciliation Cash At Beginning of Period	+5.0%	-6.4%	-22.2%	+13.0%	—
Cash Reconciliation Cash At End of Period	+5.0%	-6.4%	-22.2%	+13.0%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+73.4%	+74.3%	+72.3%	+68.8%	+70.0%
Operating margin	+13.5%	+8.5%	+5.6%	-3.4%	-7.1%
Net margin	+12.3%	+32.1%	+6.4%	-4.9%	-11.7%
FCF margin	—	—	—	—	—
Growth
Revenue CAGR (3y)	+18.8%	+23.6%	+26.5%	+23.8%	+23.2%
Returns
ROE	+14.5%	+49.9%	+25.1%	-127.1%	-78.6%
ROA	+4.8%	+12.9%	+3.0%	-2.2%	-4.9%
ROIC	+15.9%	+14.9%	+6.5%	-10.7%	-15.3%
Liquidity
Current ratio	0.94x	0.89x	0.78x	0.77x	0.91x
Quick ratio	0.66x	0.54x	0.47x	0.51x	0.61x
Leverage
D/E	2.01x	2.87x	7.29x	57.35x	14.94x
Interest coverage	414.30x	82.40x	14.24x	-6.89x	-1.86x
Efficiency
Asset turnover	0.39x	0.40x	0.48x	0.45x	0.42x
Cash conversion cycle	—	—	—	—	—

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Palo Alto Networks

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