Palo Alto Networks Financial Statements
NASDAQ: PANWTechnologyComputer peripheral equipmentUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Palo Alto Networks revenue and earnings
In fiscal 2026, Palo Alto Networks generated $11.48 billion in revenue, up 24.5% from fiscal 2025, its 15th consecutive year of revenue growth. Net income was $307.0 million (-72.9% year over year), for a net margin of 2.7% versus a median of 6.4% in the prior 5 years. Gross margin was 70.4% (down from 73.4%) and operating margin 6.1%.
Diluted earnings per share came in at $0.40, down from $1.60. Over the last 5 fiscal years, PANW's revenue has grown at a 22.0% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Palo Alto Networks income statement (annual)
| Fiscal year (USD) | FY 20262026-07-31 | FY 20252025-07-31 | FY 20242024-07-31 | FY 20232023-07-31 | FY 20222022-07-31 | FY 20212021-07-31 | FY 20202020-07-31 | FY 20192019-07-31 | FY 20182018-07-31 | FY 20172017-07-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 11.48B | 9.22B | 8.03B | 6.89B | 5.50B | 4.26B | 3.41B | 2.90B | 2.27B | 1.76B |
| Revenue growth (YoY) | +24.50% | +14.87% | +16.46% | +25.29% | +29.26% | +24.87% | +17.55% | +27.56% | +29.04% | +27.79% |
| Cost of Revenue | 3.40B | 2.45B | 2.06B | 1.91B | 1.72B | 1.27B | 999.50M | 808.40M | 645.10M | 476.40M |
| Gross Profit | 8.08B | 6.77B | 5.97B | 4.98B | 3.78B | 2.98B | 2.41B | 2.09B | 1.63B | 1.28B |
| Operating Expenses | 7.38B | 5.53B | 5.28B | 4.60B | 3.97B | 3.29B | 2.59B | 2.15B | 1.73B | 1.44B |
| Research & Development | 2.55B | 1.98B | 1.81B | 1.60B | 1.42B | 1.14B | 768.10M | 539.50M | 400.70M | 347.40M |
| Selling, General & Admin | 4.83B | 3.54B | 3.47B | 2.99B | 2.55B | 2.14B | 1.82B | 1.61B | 1.33B | 1.10B |
| Operating Income | 695.00M | 1.24B | 684.00M | 387.30M | -188.80M | -304.10M | -179.00M | -54.10M | -104.20M | -165.80M |
| Interest Expense | 0 | 3.00M | 8.30M | 27.20M | 27.40M | 163.30M | 88.70M | 83.90M | 29.60M | 24.50M |
| Other Income (Expense) | 64.00M | 25.00M | -6.00M | -10.30M | -8.40M | -700.00K | 1.20M | -2.90M | 28.50M | 10.20M |
| Pretax Income | 536.00M | 1.60B | 988.00M | 566.30M | -207.20M | -465.00M | -231.80M | -74.60M | -105.30M | -180.10M |
| Income Tax | 229.00M | 462.00M | -1.59B | 126.60M | 59.80M | 33.90M | 35.20M | 7.30M | 16.90M | 22.90M |
| Net Income | 307.00M | 1.13B | 2.58B | 439.70M | -267.00M | -498.90M | -267.00M | -81.90M | -122.20M | -203.00M |
| Net Income growth (YoY) | -72.93% | -56.01% | +486.31% | — | — | — | — | — | — | — |
| EPS (Basic) | 0.41 | 1.71 | 4.04 | 0.73 | -0.90 | -1.73 | -2.76 | -0.87 | -1.33 | -2.24 |
| EPS (Diluted) | 0.40 | 1.60 | 3.64 | 0.64 | -0.90 | -1.73 | -2.76 | -0.87 | -1.33 | -2.24 |
| Shares Outstanding (Basic) | 749.00M | 663.00M | 638.00M | 606.40M | 295.60M | 289.10M | 96.90M | 94.50M | 91.70M | 90.60M |
| Shares Outstanding (Diluted) | 764.00M | 709.00M | 708.00M | 684.50M | 295.60M | 289.10M | 96.90M | 94.50M | 91.70M | 90.60M |
| EBITDA | 1.55B | 1.59B | 968.00M | 669.50M | 93.80M | -43.70M | 27.10M | 99.70M | -7.80M | -106.00M |
| Gross Margin | 70.36% | 73.42% | 74.35% | 72.29% | 68.76% | 70.05% | 70.68% | 72.12% | 71.64% | 72.59% |
| Operating Margin | 6.05% | 13.48% | 8.52% | 5.62% | -3.43% | -7.15% | -5.25% | -1.87% | -4.58% | -9.41% |
| Net Margin | 2.67% | 12.30% | 32.12% | 6.38% | -4.85% | -11.72% | -7.83% | -2.82% | -5.38% | -11.52% |
This table shows 10 annual periods of Palo Alto Networks's income statement, from FY 2026 back to FY 2017, across 20 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow PANW's reporting calendar. What is a income statement?