PANW Chart
About

Palo Alto Networks, Inc. provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It offers Prisma Access, a secure access service edge solution; Strata Cloud Manager, a network security management solution; and Prisma AIRS to protect customers' entire AI ecosystem. It provides a comprehensive cloud native application protection platform; and Code to Cloud platform, as well as offers VM-Series and CN-Series virtual firewalls for inline network security on multi- and hybrid-cloud environments. It provides security operation solutions through the Cortex platform that includes Cortex XSIAM, an AI-driven security operations platform; Cortex XDR to prevent, detect, and respond to cybersecurity attacks; and Cortex XSOAR for security orchestration, automation, and response; and Cortex Xpanse for attack surface management, as well as offers threat intelligence and advisory services under the Unit 42 name. It provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline; and threat intelligence, data loss prevention, services to resolve network disruptions, and sensitive data protection. It offers professional services, including architecture design and planning, implementation, configuration, and firewall migration; education services, such as certifications, as well as online and in-classroom training; and support services. It sells its products and services through its channel partners, as well as directly to enterprises, service providers, and government entities operating in various industries, including education, energy, financial services, government entities, healthcare, Internet and media, manufacturing, public sector, and telecommunications. The company was incorporated in 2005 and is headquartered in Santa Clara, California.

Fundamentals
Scroll to Statements
Sector Technology Industry Software - Infrastructur Market Cap 132.12B
Enterprise Value 112.58B Income 1.12B Sales 9.56B
Book/sh 12.52 Cash/sh 6.04 Dividend Yield —
Payout 0.00% Employees 16413 IPO —
P/E 102.83 Forward P/E 37.64 PEG —
P/S 13.83 P/B 13.06 P/C —
EV/EBITDA 81.43 EV/Sales 11.78 Quick Ratio 0.85
Current Ratio 0.98 Debt/Eq 4.95 LT Debt/Eq —
EPS (ttm) 1.59 EPS next Y 4.34 EPS Growth -4.10%
Revenue Growth 15.70% Earnings 2026-02-17 ROA 3.18%
ROE 15.32% ROIC — Gross Margin 73.47%
Oper. Margin 12.01% Profit Margin 11.69% Shs Outstand 808.07M
Shs Float 690.28M Short Float 6.70% Short Ratio 7.50
Short Interest — 52W High 223.61 52W Low 144.15
Beta 0.75 Avg Volume 8.19M Volume 13.66M
Target Price $223.38 Recom Buy Prev Close $166.95
Price $163.50 Change -2.07%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$223.38
Mean price target
2. Current target
$163.50
Latest analyst target
3. DCF / Fair value
$67.59
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$163.50
Low
$157.00
High
$265.00
Mean
$223.38

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-17 main Truist Securities Buy → Buy $200
2026-02-17 main Mizuho Outperform → Outperform $205
2026-02-12 main BTIG Buy → Buy $200
2026-02-11 main DA Davidson Buy → Buy $210
2026-02-10 main JP Morgan Overweight → Overweight $225
2026-02-09 main Barclays Overweight → Overweight $200
2026-01-28 reit Needham Buy → Buy $230
2026-01-13 main UBS Neutral → Neutral $215
2026-01-05 main Piper Sandler Overweight → Overweight $265
2026-01-05 up Guggenheim Sell → Neutral —
2025-12-18 main Morgan Stanley Overweight → Overweight $245
2025-11-21 down HSBC Hold → Reduce $157
2025-11-21 main Goldman Sachs Buy → Buy $240
2025-11-20 main UBS Neutral → Neutral $220
2025-11-20 main Oppenheimer Outperform → Outperform $245
2025-11-20 main Piper Sandler Overweight → Overweight $230
2025-11-20 reit WestPark Capital Hold → Hold —
2025-11-20 main DA Davidson Buy → Buy $240
2025-11-20 reit Wedbush Outperform → Outperform $225
2025-11-20 reit Cantor Fitzgerald Overweight → Overweight $250
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 120768 23070681 — Sale at price 189.60 - 193.16 per share. KLARICH LEE Chief Technology Officer — 2026-01-08 00:00:00 D
1 92010 2967322 — Conversion of Exercise of derivative security at price 32.25 per share. KLARICH LEE Chief Technology Officer — 2026-01-08 00:00:00 D
2 800 147848 — Sale at price 184.81 per share. PAUL JOSHUA D. Officer — 2026-01-02 00:00:00 D
3 904 167068 — Sale at price 184.81 per share. JENKINS WILLIAM D JR President — 2026-01-02 00:00:00 D
4 6218 1169423 — Sale at price 187.92 - 188.45 per share. JENKINS WILLIAM D JR President — 2025-12-26 00:00:00 D
5 5000 940910 — Sale at price 188.18 per share. GOLECHHA DIPAK Chief Financial Officer — 2025-12-23 00:00:00 D
6 50000 — — Stock Gift at price 0.00 per share. KLARICH LEE Officer and Director — 2025-12-10 00:00:00 I
7 4944 — — Stock Award(Grant) at price 0.00 per share. GOODBURN MARK A Director — 2025-12-10 00:00:00 D
8 2516 — — Stock Award(Grant) at price 0.00 per share. DONOVAN JOHN M Director — 2025-12-09 00:00:00 D
9 25000 4880043 — Sale at price 194.70 - 196.42 per share. GOETZ JAMES JOSEPH Director — 2025-12-09 00:00:00 I
Financials
Line Item2025-07-312024-07-312023-07-312022-07-31
TaxEffectOfUnusualItems-9.48M42.00K-1.77M378.00K
TaxRateForCalcs0.290.210.220.21
NormalizedEBITDA1.97B1.28B876.90M93.80M
TotalUnusualItems-32.80M200.00K-7.90M1.80M
TotalUnusualItemsExcludingGoodwill-32.80M200.00K-7.90M1.80M
NetIncomeFromContinuingOperationNetMinorityInterest1.13B2.58B439.70M-267.00M
ReconciledDepreciation343.40M283.30M282.20M282.60M
ReconciledCostOfRevenue2.45B2.06B1.91B1.72B
EBITDA1.94B1.28B869.00M95.60M
EBIT1.60B993.10M586.80M-187.00M
NetInterestIncome360.50M309.60M197.20M-11.80M
InterestExpense1.90M4.80M20.50M20.20M
InterestIncome363.50M317.90M224.40M15.60M
NormalizedIncome1.16B2.58B445.83M-268.42M
NetIncomeFromContinuingAndDiscontinuedOperation1.13B2.58B439.70M-267.00M
TotalExpenses7.98B7.34B6.51B5.69B
TotalOperatingIncomeAsReported1.24B683.90M387.30M-188.80M
DilutedAverageShares709.30M708.00M684.60M591.00M
BasicAverageShares662.50M638.40M606.40M591.00M
DilutedEPS1.603.640.64-0.45
BasicEPS1.714.040.72-0.45
DilutedNIAvailtoComStockholders1.13B2.58B439.70M-267.00M
NetIncomeCommonStockholders1.13B2.58B439.70M-267.00M
NetIncome1.13B2.58B439.70M-267.00M
NetIncomeIncludingNoncontrollingInterests1.13B2.58B439.70M-267.00M
NetIncomeContinuousOperations1.13B2.58B439.70M-267.00M
TaxProvision461.80M-1.59B126.60M59.80M
PretaxIncome1.60B988.30M566.30M-207.20M
OtherIncomeExpense-7.70M-5.20M-18.20M-6.60M
OtherNonOperatingIncomeExpenses25.10M-5.40M-10.30M-8.40M
GainOnSaleOfSecurity-32.80M200.00K-7.90M1.80M
NetNonOperatingInterestIncomeExpense360.50M309.60M197.20M-11.80M
TotalOtherFinanceCost1.10M3.50M6.70M7.20M
InterestExpenseNonOperating1.90M4.80M20.50M20.20M
InterestIncomeNonOperating363.50M317.90M224.40M15.60M
OperatingIncome1.24B683.90M387.30M-188.80M
OperatingExpense5.53B5.28B4.60B3.97B
ResearchAndDevelopment1.98B1.81B1.60B1.42B
SellingGeneralAndAdministration3.54B3.48B2.99B2.55B
SellingAndMarketingExpense3.10B2.79B2.54B2.15B
GeneralAndAdministrativeExpense442.70M680.50M447.70M405.00M
OtherGandA442.70M680.50M447.70M405.00M
SalariesAndWages465.70M422.80M398.80M
GrossProfit6.77B5.97B4.98B3.78B
CostOfRevenue2.45B2.06B1.91B1.72B
TotalRevenue9.22B8.03B6.89B5.50B
OperatingRevenue9.22B8.03B6.89B5.50B
Line Item2025-07-312024-07-312023-07-312022-07-31
OrdinarySharesNumber667.90M650.20M616.60M597.60M
ShareIssued667.90M650.20M616.60M597.60M
NetDebt856.20M1.56B1.35B
TotalDebt338.20M1.34B2.27B3.95B
TangibleBookValue2.50B1.44B-1.49B-2.92B
InvestedCapital7.82B6.13B3.74B3.89B
WorkingCapital-465.20M-833.00M-1.69B-1.89B
NetTangibleAssets2.50B1.44B-1.49B-2.92B
CapitalLeaseObligations338.20M380.50M279.20M276.10M
CommonStockEquity7.82B5.17B1.75B210.00M
TotalCapitalization7.82B5.17B1.75B210.00M
TotalEquityGrossMinorityInterest7.82B5.17B1.75B210.00M
StockholdersEquity7.82B5.17B1.75B210.00M
OtherEquityInterest129.10M
GainsLossesNotAffectingRetainedEarnings48.40M-1.60M-43.20M-55.60M
OtherEquityAdjustments48.40M-1.60M-43.20M-55.60M
RetainedEarnings2.48B1.35B-1.23B-1.67B
CapitalStock5.29B3.82B3.02B1.93B
CommonStock5.29B3.82B3.02B1.93B
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest15.75B14.82B12.75B12.04B
TotalNonCurrentLiabilitiesNetMinorityInterest7.76B7.14B5.02B3.74B
OtherNonCurrentLiabilities886.80M430.90M86.10M108.40M
NonCurrentDeferredLiabilities6.54B6.33B4.65B3.35B
NonCurrentDeferredRevenue6.45B5.94B4.62B3.35B
NonCurrentDeferredTaxesLiabilities89.10M387.70M28.10M
LongTermDebtAndCapitalLeaseObligation338.20M380.50M279.20M276.10M
LongTermCapitalLeaseObligation338.20M380.50M279.20M276.10M
LongTermDebt1.67B
CurrentLiabilities7.99B7.68B7.74B8.31B
CurrentDeferredLiabilities6.30B5.54B4.67B3.64B
CurrentDeferredRevenue6.30B5.54B4.67B3.64B
CurrentDebtAndCapitalLeaseObligation963.90M1.99B3.68B1.56B
CurrentDebt963.90M1.99B3.68B1.56B
OtherCurrentBorrowings963.90M1.99B3.68B1.56B
PensionandOtherPostRetirementBenefitPlansCurrent607.60M554.70M548.30M461.10M
PayablesAndAccruedExpenses1.08B623.00M523.10M527.20M
CurrentAccruedExpenses846.00M506.70M390.80M399.20M
Payables232.20M116.30M132.30M128.00M
AccountsPayable232.20M116.30M132.30M128.00M
TotalAssets23.58B19.99B14.50B12.25B
TotalNonCurrentAssets16.05B13.14B8.45B5.84B
OtherNonCurrentAssets421.80M352.90M321.70M312.60M
NonCurrentDeferredAssets3.01B2.96B570.20M550.10M
NonCurrentDeferredTaxesAssets2.42B2.40B23.10M
NonCurrentAccountsReceivable1.00B1.18B653.30M192.10M
InvestmentsAndAdvances5.56B4.17B3.05B1.05B
InvestmentinFinancialAssets5.56B4.17B3.05B1.05B
AvailableForSaleSecurities5.56B4.17B3.05B1.05B
GoodwillAndOtherIntangibleAssets5.33B3.73B3.24B3.13B
OtherIntangibleAssets762.70M374.90M315.40M384.50M
Goodwill4.57B3.35B2.93B2.75B
NetPPE734.30M747.00M617.80M599.80M
AccumulatedDepreciation-638.60M-559.20M-528.30M-469.70M
GrossPPE1.37B1.31B1.15B1.07B
Leases324.70M274.00M268.90M249.30M
OtherProperties393.70M430.30M310.20M283.60M
MachineryFurnitureEquipment567.30M514.70M479.80M449.40M
LandAndImprovements87.20M87.20M87.20M87.20M
Properties0.000.000.000.00
CurrentAssets7.52B6.85B6.05B6.41B
OtherCurrentAssets520.50M557.40M466.80M208.90M
CurrentDeferredAssets419.50M369.00M339.20M317.70M
PrepaidAssets466.80M208.90M229.30M
Receivables3.68B3.34B2.85B2.25B
OtherReceivables714.60M725.90M388.80M111.30M
AccountsReceivable2.96B2.62B2.46B2.14B
AllowanceForDoubtfulAccountsReceivable-9.70M-7.50M-7.80M-8.90M
GrossAccountsReceivable2.97B2.63B2.47B2.15B
CashCashEquivalentsAndShortTermInvestments2.90B2.58B2.39B3.63B
OtherShortTermInvestments634.60M1.04B1.25B1.52B
CashAndCashEquivalents2.27B1.54B1.14B2.12B
CashEquivalents494.00M476.10M
CashFinancial1.04B659.20M
Line Item2025-07-312024-07-312023-07-312022-07-31
FreeCashFlow3.47B3.10B2.63B1.79B
RepurchaseOfCapitalStock0.00-566.70M-272.70M-892.30M
RepaymentOfDebt-965.60M-1.03B-1.69B-600.00K
IssuanceOfDebt0.000.00
CapitalExpenditure-246.20M-156.80M-146.30M-192.80M
InterestPaidSupplementalData1.70M5.60M20.20M20.20M
IncomeTaxPaidSupplementalData505.50M342.30M147.10M34.60M
EndCashPosition2.28B1.55B1.14B2.12B
BeginningCashPosition1.55B1.14B2.12B1.88B
ChangesInCash732.40M404.60M-982.60M244.70M
FinancingCashFlow-778.90M-1.34B-1.73B-806.60M
CashFlowFromContinuingFinancingActivities-778.90M-1.34B-1.73B-806.60M
NetOtherFinancingCharges-183.80M-26.60M-20.40M-50.30M
ProceedsFromStockOptionExercised370.50M283.90M258.80M136.60M
NetCommonStockIssuance0.00-566.70M-272.70M-892.30M
CommonStockPayments0.00-566.70M-272.70M-892.30M
NetIssuancePaymentsOfDebt-965.60M-1.03B-1.69B-600.00K
NetShortTermDebtIssuance-965.60M-1.03B-1.69B-600.00K
ShortTermDebtPayments-965.60M-1.03B-1.69B-600.00K
NetLongTermDebtIssuance-1.03B-1.69B-600.00K-900.00K
LongTermDebtPayments-1.03B-1.69B-600.00K-900.00K
LongTermDebtIssuance0.000.00
InvestingCashFlow-2.20B-1.51B-2.03B-933.40M
CashFlowFromContinuingInvestingActivities-2.20B-1.51B-2.03B-933.40M
NetInvestmentPurchaseAndSale-904.10M-742.50M-1.68B-703.60M
SaleOfInvestment2.79B2.81B3.78B1.57B
PurchaseOfInvestment-3.70B-3.55B-5.46B-2.27B
NetBusinessPurchaseAndSale-1.05B-610.60M-204.50M-37.00M
PurchaseOfBusiness-1.05B-610.60M-204.50M-37.00M
NetPPEPurchaseAndSale-246.20M-156.80M-146.30M-192.80M
PurchaseOfPPE-246.20M-156.80M-146.30M-192.80M
OperatingCashFlow3.72B3.26B2.78B1.98B
CashFlowFromContinuingOperatingActivities3.72B3.26B2.78B1.98B
ChangeInWorkingCapital922.80M910.30M550.80M523.90M
ChangeInOtherWorkingCapital683.10M1.69B1.87B1.51B
ChangeInPayablesAndAccruedExpense305.60M373.30M10.60M54.80M
ChangeInAccruedExpense198.80M388.30M9.60M-14.50M
ChangeInPayable106.80M-15.00M1.00M69.30M
ChangeInAccountPayable106.80M-15.00M1.00M69.30M
ChangeInPrepaidAssets88.30M-134.10M-270.60M-110.00M
ChangeInReceivables-154.20M-1.02B-1.06B-932.10M
ChangesInAccountReceivables-345.30M-154.30M-320.30M-902.00M
OtherNonCashItems346.40M449.50M420.10M369.30M
StockBasedCompensation1.30B1.08B1.07B1.01B
AmortizationOfSecurities-41.10M-60.10M-52.20M13.50M
DeferredTax-349.90M-2.03B12.50M-3.10M
DeferredIncomeTax-349.90M-2.03B12.50M-3.10M
DepreciationAmortizationDepletion343.40M283.30M282.20M282.60M
DepreciationAndAmortization343.40M283.30M282.20M282.60M
Depreciation304.90M
OperatingGainsLosses65.40M55.30M49.90M54.40M
GainLossOnSaleOfPPE65.40M55.30M49.90M54.40M
NetIncomeFromContinuingOperations1.13B2.58B439.70M-267.00M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for PANW
Date User Asset Broker Type Position Size Entry Price Patterns