Palo Alto Networks

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

                    Revenue
                    FY2025
                
$9.2B
                    3y CAGR +18.8%
                    
                    P85
                    
                    n/a
                    
                    Net income
                    FY2025
                
$1.1B
                    Net margin +12.3%
                    
                    P35
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$23.6B
                    ROA +4.8%
                    
                    P23
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$3.7B
                    FCF margin +37.6%
                    
                    P89
                    
                    n/a

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

30 accounts · 1 year

Total assets $23.6B

Total liabilities $15.8B

Shareholders equity $7.8B

Account	2025	Trend
Assets
Cash and Cash Equivalents	24.6%
Short Term Investments	6.9%
Accounts Receivable	32.2%
Prepaid Expenses	5.6%
Other Current Assets	12.3%
Total Current Assets	81.6%
Property,Plant and Equipment	4.2%
Operating Lease Assets	3.8%
Goodwill	49.5%
Intangible Assets	8.3%
Long Term Investments	60.2%
Deferred Tax Assets	26.3%
Other Noncurrent Assets	21.8%
Total Assets	255.7%
Liabilities
Accounts Payable	2.5%
Accrued Liabilities	15.8%
Deferred Revenue	68.3%
Current Portion of Long Term Debt	0.0%
Total Current Liabilities	86.6%
Deferred Revenue Noncurrent	69.9%
Operating Lease Liabilities Noncurrent	3.7%
Deferred Tax Liabilities	1.0%
Other Noncurrent Liabilities	9.6%
Total Liabilities	170.8%
Equity
Preferred Stock	0.0%
Common Stock	57.4%
Retained Earnings	26.9%
Accumulated Other Comprehensive Income	0.5%
Total Stockholders Equity	84.8%
Total Liabilitiesand Equity	255.7%

Income Statement

Revenue, expense, and profitability

16 accounts · 1 year

Revenue $9.2B

Operating income $1.2B

Net income $1.1B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	100.0%
Expenses Cost of Revenue	26.6%
Other Income Expense Gross Profit	73.4%
Expenses Research and Development	21.5%
Expenses Selling,General and Administrative	38.4%
Expenses Operating Expenses	59.9%
Other Income Expense Operating Income	13.5%
Other Income Expense Interest Expense	0.0%
Other Income Expense Other Income/expense	3.9%
Other Income Expense Income Before Tax	17.3%
Income Tax Income Tax Expense	5.0%
net Income net Income	12.3%
net Income Comprehensive Income	12.8%
Earnings Per Share Basic Eps	0.0%
Earnings Per Share Diluted Eps	0.0%
Earnings Per Share Weighted Average Shares Diluted	7.7%

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 1 year

Operating cash flow $3.7B

Investing cash flow $-2.2B

Financing cash flow $-778.9M

Account	2025	Trend
CashFlow
Operating Activities net Income	12.3%
Operating Activities Depreciation and Amortization	9.6%
Operating Activities Stock Based Compensation	14.0%
Operating Activities Deferred Income Taxes	-3.8%
Operating Activities Changes In Operating Assets and Liabilities	10.0%
Operating Activities Other Non Cash Items	-1.9%
Operating Activities net Cash From Operating Activities	40.3%
Investing Activities Capital Expenditures	-2.7%
Investing Activities Business Acquisitions	-11.4%
Investing Activities Purchases of Investments	-40.1%
Investing Activities Proceeds From Sale of Investments	30.3%
Investing Activities net Cash From Investing Activities	-23.9%
Financing Activities Repayment of Debt	-10.5%
Financing Activities Repurchase of Common Stock	0.0%
Financing Activities Proceeds From Stock Issuance	4.0%
Financing Activities Tax Withholding On Stock Based Compensation	-2.0%
Financing Activities net Cash From Financing Activities	-8.4%
Cash Reconciliation net Change In Cash	7.9%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+73.4%
Operating margin	+13.5%
Net margin	+12.3%
FCF margin	+37.6%
Growth
Revenue CAGR (3y)	+18.8%
Returns
ROE	+14.5%
ROA	+4.8%
ROIC	—
Liquidity
Current ratio	0.94x
Quick ratio	0.66x
Leverage
D/E	2.01x
Interest coverage	414.30x
Efficiency
Asset turnover	0.39x
Cash conversion cycle	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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Palo Alto Networks

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Margins, returns, liquidity, leverage, efficiency

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