Cash flow Palo Alto Networks, Inc.

Equities

PANW

US6974351057

Software

Market Closed - Nasdaq Other stock markets 21:00:00 06/02/2026 GMT			5-day change	1st Jan Change
159.32 ^USD	+2.94%		-9.97%	-13.51%

02-05	Palo Alto Networks NextWave Program Accelerates Partner Profitability and AI-Driven Security Outcomes	CI
02-04	CyberArk Software Q4 Non-GAAP Net Income, Revenue Increase	MT

5074030e8c9866.rfjXu8tAYerHZHdJs86mEpYR8Vlg7USW-peA746HbjA.-Yqe150BVqGkJ0QDw_nsVsZ2vRQPoDDmt9DkvffkV1bIrpr6uS4imPMLHA

Published financial data: PALO ALTO NETWORKS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: July	2021	2022	2023	2024	2025
Revenues	4.26B	5.5B	6.89B	8.03B	9.22B
Total Revenues	4.26B	5.5B	6.89B	8.03B	9.22B
Cost of Goods Sold, Total	1.27B	1.72B	1.91B	2.06B	2.45B
Gross Profit	2.98B	3.78B	4.98B	5.97B	6.77B
Selling General & Admin Expenses, Total	2.11B	2.55B	2.99B	3.27B	3.72B
R&D Expenses	1.14B	1.42B	1.6B	1.81B	1.98B
Other Operating Expenses, Total	3.25B	3.97B	4.6B	5.08B	5.7B
Operating Income	-272M	-189M	387M	888M	1.07B
Interest Expense, Total	-163M	-27.4M	-27.2M	-8.3M	-3M
Interest And Investment Income	8.5M	15.6M	224M	318M	364M
Net Interest Expenses	-155M	-11.8M	197M	310M	360M
Currency Exchange Gains (Loss)	-5.4M	1.8M	-7.9M	200K	-32.8M
Other Non Operating Income (Expenses)	-700K	-8.4M	-10.3M	-5.4M	25.1M
EBT, Excl. Unusual Items	-433M	-207M	566M	1.19B	1.42B
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-32.4M	-	-	-	-
Legal Settlements	-	-	-	-204M	38.8M
Other Unusual Items	-	-	-	-	135M
EBT, Incl. Unusual Items	-465M	-207M	566M	988M	1.6B
Income Tax Expense	33.9M	59.8M	127M	-1.59B	462M
Earnings From Continuing Operations	-499M	-267M	440M	2.58B	1.13B
Net Income to Company	-499M	-267M	440M	2.58B	1.13B
Net Income - (IS)	-499M	-267M	440M	2.58B	1.13B
Net Income to Common Incl Extra Items	-499M	-267M	440M	2.58B	1.13B
Net Income to Common Excl. Extra Items	-499M	-267M	440M	2.58B	1.13B
Per Share Items
Net EPS - Basic	-0.86	-0.45	0.73	4.04	1.71
Basic EPS - Continuing Operations	-0.86	-0.45	0.73	4.04	1.71
Basic Weighted Average Shares Outstanding	578M	591M	606M	638M	662M
Net EPS - Diluted	-0.86	-0.45	0.64	3.64	1.6
Diluted EPS - Continuing Operations	-0.86	-0.45	0.64	3.64	1.6
Diluted Weighted Average Shares Outstanding	578M	591M	685M	708M	709M
Normalized Basic EPS	-0.47	-0.22	0.58	1.17	1.34
Normalized Diluted EPS	-0.47	-0.22	0.52	1.05	1.25
American Depositary Receipts Ratio (ADR)	0.02	0.02	0.02	0.02	0.02
Supplemental Items
EBITDA	-59.1M	31.4M	590M	1.09B	1.33B
EBITA	-154M	-61.9M	492M	1.01B	1.24B
EBIT	-272M	-189M	387M	888M	1.07B
EBITDAR	16.1M	121M	681M	1.2B	1.45B
Total Revenues (As Reported)	4.26B	5.5B	6.89B	8.03B	9.22B
Effective Tax Rate - (Ratio)	-7.29	-28.86	22.36	-160.81	28.94
Current Domestic Taxes	5M	4.1M	70.1M	315M	626M
Current Foreign Taxes	41.3M	58.8M	44M	130M	186M
Total Current Taxes	46.3M	62.9M	114M	444M	812M
Deferred Domestic Taxes	-5.8M	-200K	19.7M	139M	-345M
Deferred Foreign Taxes	-6.6M	-2.9M	-7.2M	-2.17B	-5M
Total Deferred Taxes	-12.4M	-3.1M	12.5M	-2.03B	-350M
Normalized Net Income	-270M	-130M	354M	745M	888M
Interest on Long-Term Debt	163M	27.4M	25.8M	8.3M	3M
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Selling and Marketing Expenses	1.75B	2.15B	2.54B	2.79B	3.1B
General and Administrative Expenses	359M	405M	448M	476M	617M
Research And Development Expense From Footnotes	1.14B	1.42B	1.6B	1.81B	1.98B
Net Rental Expense, Total	75.2M	89.7M	91.3M	105M	122M
Imputed Operating Lease Interest Expense	27.97M	5.2M	6.32M	3.78M	3.32M
Imputed Operating Lease Depreciation	47.23M	84.5M	84.98M	101M	118M
Stock-Based Comp., COGS (Total)	99.2M	120M	133M	128M	132M
Stock-Based Comp., R&D Exp. (Total)	429M	471M	488M	526M	550M
Stock-Based Comp., S&M Exp. (Total)	270M	305M	335M	301M	360M
Stock-Based Comp., G&A Exp. (Total)	129M	118M	130M	124M	258M
Total Stock-Based Compensation	927M	1.01B	1.09B	1.08B	1.3B

Fiscal Period: July	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	1.87B	2.12B	1.14B	1.54B	2.27B
Short Term Investments	1.03B	1.52B	1.25B	1.04B	635M
Total Cash And Short Term Investments	2.9B	3.63B	2.39B	2.58B	2.9B
Accounts Receivable, Total	1.24B	2.14B	2.46B	3.34B	3.68B
Other Receivables	79M	111M	389M	-	-
Total Receivables	1.32B	2.25B	2.85B	3.34B	3.68B
Prepaid Expenses	141M	200M	441M	542M	452M
Restricted Cash	5.4M	6.3M	6.9M	11.6M	10.6M
Other Current Assets, Total	281M	320M	358M	373M	477M
Total Current Assets	4.65B	6.41B	6.05B	6.85B	7.52B
Gross Property Plant And Equipment	980M	1.07B	1.15B	1.31B	1.37B
Accumulated Depreciation	-399M	-470M	-528M	-559M	-639M
Net Property Plant And Equipment	581M	600M	618M	747M	734M
Long-term Investments	888M	1.05B	3.05B	4.17B	5.56B
Goodwill	2.71B	2.75B	2.93B	3.35B	4.57B
Other Intangibles, Total	613M	515M	448M	504M	930M
Accounts Receivable Long-Term	-	-	-	1.18B	1B
Deferred Tax Assets Long-Term	-	-	-	2.4B	2.42B
Deferred Charges Long-Term	495M	550M	547M	562M	586M
Other Long-Term Assets, Total	307M	374M	866M	224M	254M
Total Assets	10.24B	12.25B	14.5B	19.99B	23.58B
Liabilities
Accounts Payable, Total	56.9M	128M	132M	116M	232M
Accrued Expenses, Total	688M	766M	860M	980M	1.09B
Current Portion of Long-Term Debt	1.56B	3.68B	1.99B	964M	-
Current Portion of Leases	65.8M	62.3M	60.2M	65.9M	79.2M
Unearned Revenue Current, Total	2.74B	3.64B	4.67B	5.54B	6.3B
Other Current Liabilities	6.4M	32.4M	18.7M	15.3M	280M
Total Current Liabilities	5.12B	8.31B	7.74B	7.68B	7.99B
Long-Term Debt	1.67B	-	-	-	-
Long-Term Leases	313M	276M	279M	380M	338M
Unearned Revenue Non Current	2.28B	3.35B	4.62B	5.94B	6.45B
Deferred Tax Liability Non Current	-	-	-	388M	89.1M
Other Non Current Liabilities	227M	108M	114M	431M	887M
Total Liabilities	9.61B	12.04B	12.75B	14.82B	15.75B
Common Stock, Total	2.31B	1.93B	3.02B	3.82B	5.29B
Retained Earnings	-1.67B	-1.67B	-1.23B	1.35B	2.48B
Comprehensive Income and Other	-9.9M	-55.6M	-43.2M	-1.6M	48.4M
Total Common Equity	634M	210M	1.75B	5.17B	7.82B
Total Equity	634M	210M	1.75B	5.17B	7.82B
Total Liabilities And Equity	10.24B	12.25B	14.5B	19.99B	23.58B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	584M	598M	617M	651M	669M
ECS Total Common Shares Outstanding	584M	598M	617M	650M	668M
Book Value / Share	1.09	0.35	2.84	7.95	11.71
Tangible Book Value	-2.69B	-3.05B	-1.63B	1.32B	2.33B
Tangible Book Value Per Share	-4.61	-5.11	-2.64	2.02	3.49
Total Debt	3.61B	4.02B	2.33B	1.41B	417M
Net Debt	704M	381M	-59.1M	-1.17B	-2.49B
Debt Equivalent Oper. Leases	602M	718M	730M	838M	974M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	49.6M	87.2M	87.2M	87.2M	87.2M
Machinery, Total	392M	449M	480M	515M	567M
Full Time Employees	10.47K	12.56K	13.95K	15.29K	16.07K
Accumulated Allowance for Doubtful Accounts (Supple)	11.2M	8.9M	7.8M	16.1M	15.4M

Fiscal Period: July	2021	2022	2023	2024	2025
Net Income	-499M	-267M	440M	2.58B	1.13B
Depreciation & Amortization - CF	139M	148M	97.8M	85.2M	94.4M
Amortization of Goodwill and Intangible Assets - (CF)	118M	127M	105M	121M	166M
Depreciation & Amortization, Total	257M	275M	203M	206M	261M
Amortization of Deferred Charges, Total - (CF)	489M	432M	500M	527M	564M
(Gain) Loss on Sale of Investments - (CF)	13.1M	13.5M	-52.2M	-60.1M	-41.1M
Asset Writedown & Restructuring Costs	-	-	-	-	-
Stock-Based Compensation (CF)	894M	1.01B	1.07B	1.08B	1.3B
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	-100K	-	49.9M	-1.98B	-420M
Change In Accounts Receivable	-172M	-902M	-320M	-154M	-345M
Change In Accounts Payable	-11.8M	69.3M	1M	-15M	107M
Change in Unearned Revenues	1.2B	1.97B	2.3B	2.18B	1.24B
Change in Other Net Operating Assets	-663M	-616M	-1.42B	-1.1B	-76.8M
Cash from Operations	1.5B	1.98B	2.78B	3.26B	3.72B
Capital Expenditure	-116M	-193M	-146M	-157M	-246M
Cash Acquisitions	-777M	-37M	-204M	-611M	-1.05B
Investment in Marketable and Equity Securities, Total	-587M	-704M	-1.68B	-742M	-904M
Cash from Investing	-1.48B	-933M	-2.03B	-1.51B	-2.2B
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-900K	-600K	-1.69B	-1.03B	-966M
Total Debt Repaid	-900K	-600K	-1.69B	-1.03B	-966M
Issuance of Common Stock	104M	137M	259M	284M	370M
Repurchase of Common Stock	-1.21B	-943M	-293M	-593M	-184M
Other Financing Activities, Total	-200K	-	-	-	-
Cash from Financing	-1.1B	-807M	-1.73B	-1.34B	-779M
Net Change in Cash	-1.08B	245M	-983M	405M	732M
Supplemental Items
Cash Interest Paid	20M	20.2M	20.2M	5.6M	1.7M
Cash Income Tax Paid (Refund)	24.9M	34.6M	147M	342M	506M
Levered Free Cash Flow	1.72B	1.37B	2.05B	2.5B	3.39B
Unlevered Free Cash Flow	1.68B	1.38B	2.06B	2.5B	3.39B
Change In Net Working Capital	-436M	25.8M	-179M	-294M	-841M
Net Debt Issued / Repaid	-900K	-600K	-1.69B	-1.03B	-966M

Fiscal Period: July	2021	2022	2023	2024	2025
Profitability
Return on Assets	-1.76	-1.05	1.81	3.22	3.07
Return on Total Capital	-3.88	-2.81	5.87	10.48	9.05
Return On Equity %	-57.47	-63.23	44.9	74.52	17.45
Return on Common Equity	-57.47	-63.23	44.9	74.52	17.45
Margin Analysis
Gross Profit Margin %	70.05	68.76	72.29	74.35	73.41
SG&A Margin	49.63	46.42	43.4	40.74	40.31
EBITDA Margin %	-1.39	0.57	8.56	13.63	14.42
EBITA Margin %	-3.62	-1.13	7.14	12.57	13.39
EBIT Margin %	-6.38	-3.43	5.62	11.07	11.59
Income From Continuing Operations Margin %	-11.72	-4.85	6.38	32.11	12.3
Net Income Margin %	-11.72	-4.85	6.38	32.11	12.3
Net Avail. For Common Margin %	-11.72	-4.85	6.38	32.11	12.3
Normalized Net Income Margin	-6.35	-2.35	5.13	9.29	9.64
Levered Free Cash Flow Margin	40.44	24.83	29.7	31.13	36.72
Unlevered Free Cash Flow Margin	39.48	25.01	29.85	31.15	36.73
Asset Turnover
Asset Turnover	0.44	0.49	0.52	0.47	0.42
Fixed Assets Turnover	7.16	9.32	11.32	11.76	12.45
Receivables Turnover (Average Receivables)	3.74	3.25	2.99	2.59	2.63
Short Term Liquidity
Current Ratio	0.91	0.77	0.78	0.89	0.94
Quick Ratio	0.82	0.71	0.68	0.77	0.82
Operating Cash Flow to Current Liabilities	0.29	0.24	0.36	0.42	0.47
Days Sales Outstanding (Average Receivables)	97.66	112.22	121.95	141.26	139.01
Average Days Payable Outstanding	17.25	19.63	24.88	22.09	25.94
Long Term Solvency
Total Debt/Equity	568.2	1.91K	133.32	27.28	5.33
Total Debt / Total Capital	85.03	95.03	57.14	21.43	5.06
LT Debt/Equity	312.29	131.48	15.97	7.36	4.32
Long-Term Debt / Total Capital	46.74	6.53	6.84	5.78	4.1
Total Liabilities / Total Assets	93.8	98.29	87.94	74.14	66.81
EBIT / Interest Expense	-1.66	-6.89	14.24	107.02	356.27
EBITDA / Interest Expense	0.1	4.42	25.05	144.47	483.73
(EBITDA - Capex) / Interest Expense	-0.61	-2.62	19.67	125.58	401.67
Total Debt / EBITDA	223.93	33.16	3.42	1.18	0.29
Net Debt / EBITDA	43.73	3.14	-0.09	-0.97	-1.71
Total Debt / (EBITDA - Capex)	-36.09	-56	4.36	1.35	0.35
Net Debt / (EBITDA - Capex)	-7.05	-5.31	-0.11	-1.12	-2.06
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	24.87	29.26	25.29	16.46	14.87
Gross Profit, 1 Yr. Growth %	23.76	26.89	31.73	19.77	13.43
EBITDA, 1 Yr. Growth %	-3.38K	-134.32	1.78K	85.49	21.48
EBITA, 1 Yr. Growth %	60.82	-66.77	-895.15	105.04	22.38
EBIT, 1 Yr. Growth %	57.05	-37.92	-305.14	129.36	20.32
Earnings From Cont. Operations, 1 Yr. Growth %	86.85	-46.48	-264.68	486.22	-56.01
Net Income, 1 Yr. Growth %	86.85	-46.48	-264.68	486.22	-56.01
Normalized Net Income, 1 Yr. Growth %	91.59	-55.44	-373.31	110.61	19.19
Diluted EPS Before Extra, 1 Yr. Growth %	87.82	-47.67	-241.71	468.75	-56.04
Accounts Receivable, 1 Yr. Growth %	19.6	72.73	14.97	17.27	10.02
Net Property, Plant and Equip., 1 Yr. Growth %	-4.2	3.18	3	20.91	-1.7
Total Assets, 1 Yr. Growth %	12.97	19.65	18.34	37.86	17.93
Tangible Book Value, 1 Yr. Growth %	131.93	13.54	-46.75	-180.91	76.95
Common Equity, 1 Yr. Growth %	-42.41	-66.9	732.57	195.68	51.35
Cash From Operations, 1 Yr. Growth %	45.12	32.05	39.95	17.29	14.07
Capital Expenditures, 1 Yr. Growth %	-45.9	66.21	-24.12	7.18	57.02
Levered Free Cash Flow, 1 Yr. Growth %	74.39	-22.69	49	18.58	32.04
Unlevered Free Cash Flow, 1 Yr. Growth %	73.5	-20.29	48.67	18.08	31.99
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	21.15	27.05	27.26	20.8	15.67
Gross Profit, 2 Yr. CAGR %	19.4	25.31	29.29	25.61	16.56
EBITDA, 2 Yr. CAGR %	-27.94	173.43	153.93	490.37	50.11
EBITA, 2 Yr. CAGR %	140.99	-21.98	62.54	303.78	58.41
EBIT, 2 Yr. CAGR %	216.64	2.7	12.85	116.91	66.12
Earnings From Cont. Operations, 2 Yr. CAGR %	146.81	0	-6.12	210.71	60.59
Net Income, 2 Yr. CAGR %	146.81	0	-6.12	210.71	60.59
Normalized Net Income, 2 Yr. CAGR %	201.47	-5.46	10.36	139.92	58.44
Diluted EPS Before Extra, 2 Yr. CAGR %	144.37	-0.9	-13.98	183.9	58.11
Accounts Receivable, 2 Yr. CAGR %	45.94	43.73	40.92	24.94	13.59
Net Property, Plant and Equip., 2 Yr. CAGR %	40.14	-0.58	3.09	11.6	9.02
Total Assets, 2 Yr. CAGR %	24.64	16.26	18.99	27.73	27.51
Tangible Book Value, 2 Yr. CAGR %	442.11	62.28	-22.24	-34.36	19.65
Common Equity, 2 Yr. CAGR %	-36.76	-56.34	66	396.16	111.55
Cash From Operations, 2 Yr. CAGR %	19.32	38.43	35.94	28.12	15.67
Capital Expenditures, 2 Yr. CAGR %	-5.97	-5.17	12.3	-9.82	29.72
Levered Free Cash Flow, 2 Yr. CAGR %	19.26	17.86	9.02	34.86	26.77
Unlevered Free Cash Flow, 2 Yr. CAGR %	18.71	19.42	10.61	34.42	26.47
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	23.24	23.8	26.46	23.55	18.79
Gross Profit, 3 Yr. CAGR %	22.33	21.84	27.42	26.03	21.41
EBITDA, 3 Yr. CAGR %	29.68	-34.9	419.84	128.69	248.54
EBITA, 3 Yr. CAGR %	46.75	32.68	69.15	75.63	171.23
EBIT, 3 Yr. CAGR %	61.09	90.99	29.34	42.95	78.22
Earnings From Cont. Operations, 3 Yr. CAGR %	59.83	48.28	18.09	72.88	61.94
Net Income, 3 Yr. CAGR %	59.83	48.28	18.09	72.88	61.94
Normalized Net Income, 3 Yr. CAGR %	87.05	63.28	34.68	36.89	90.02
Diluted EPS Before Extra, 3 Yr. CAGR %	57.19	46.24	11.64	61.45	52.45
Accounts Receivable, 3 Yr. CAGR %	38.49	54.37	33.42	39.18	19.75
Net Property, Plant and Equip., 3 Yr. CAGR %	28.64	26.54	0.6	8.72	6.98
Total Assets, 3 Yr. CAGR %	19.85	22.95	16.95	24.97	24.38
Tangible Book Value, 3 Yr. CAGR %	78.39	221.94	11.93	-21.2	-8.64
Common Equity, 3 Yr. CAGR %	-18.22	-49.03	16.64	101.22	234
Cash From Operations, 3 Yr. CAGR %	13.13	23.42	38.93	29.41	23.25
Capital Expenditures, 3 Yr. CAGR %	1.18	13.69	-11.96	10.57	8.49
Levered Free Cash Flow, 3 Yr. CAGR %	27.84	4.12	27.69	13.2	35.08
Unlevered Free Cash Flow, 3 Yr. CAGR %	27.35	4.88	28.71	14.14	34.77
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	25.29	25.67	24.83	22.59	22.03
Gross Profit, 5 Yr. CAGR %	24.21	24.22	25.07	23.34	22.96
EBITDA, 5 Yr. CAGR %	-12.39	-18.31	85.17	57.26	216.29
EBITA, 5 Yr. CAGR %	0.8	-14.45	58.83	107.08	64.77
EBIT, 5 Yr. CAGR %	11.55	5.44	42.9	100.96	42.96
Earnings From Cont. Operations, 5 Yr. CAGR %	20.96	5.63	29.19	99.34	33.54
Net Income, 5 Yr. CAGR %	20.96	5.63	29.19	99.34	33.54
Normalized Net Income, 5 Yr. CAGR %	20.22	5.41	53.66	90.45	43.73
Diluted EPS Before Extra, 5 Yr. CAGR %	18.53	3.88	23.57	90.67	28.31
Accounts Receivable, 5 Yr. CAGR %	28.89	37.74	39.46	41.85	28.82
Net Property, Plant and Equip., 5 Yr. CAGR %	37.75	23.23	17.73	20.34	3.89
Total Assets, 5 Yr. CAGR %	29.08	28.94	19.51	24.84	21.06
Tangible Book Value, 5 Yr. CAGR %	31.36	45.57	27.97	70.43	14.96
Common Equity, 5 Yr. CAGR %	-6.65	-22.67	8.55	26.65	48
Cash From Operations, 5 Yr. CAGR %	17.94	17.97	21.75	25.28	29.11
Capital Expenditures, 5 Yr. CAGR %	9.86	3.36	5.49	3.63	2.8
Levered Free Cash Flow, 5 Yr. CAGR %	35.85	16.38	19.96	15.6	28.06
Unlevered Free Cash Flow, 5 Yr. CAGR %	35.85	16.89	20.38	15.96	28.55