PANW
Palo Alto Networks, Inc.
Stock
$403.24+6.99 (+1.76%)Close Oct 2, 2026
Income statement
| Line | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.5B | $9.2B | $8.0B | $6.9B | $5.5B | $4.3B | $3.4B | $2.9B | $2.3B | $1.8B | $1.4B | $928M | $598M | $396M | $255M | $119M |
| Cost of revenue | $3.4B | $2.5B | $2.1B | $1.9B | $1.7B | $1.3B | $1,000M | $808M | $645M | $483M | $370M | $252M | $160M | $110M | $71M | $32M |
| Gross profit | $8.1B | $6.8B | $6.0B | $5.0B | $3.8B | $3.0B | $2.4B | $2.1B | $1.6B | $1.3B | $1.0B | $677M | $439M | $286M | $185M | $86M |
| R&D | $2.6B | $2.0B | $1.8B | $1.6B | $1.4B | $1.1B | $768M | $540M | $401M | $347M | $284M | $186M | $105M | $62M | $39M | $21M |
| SG&A | $4.8B | $3.5B | $3.5B | $3.0B | $2.6B | $2.1B | $1.8B | $1.6B | $1.3B | $1.1B | $882M | $591M | $408M | $242M | $142M | $75M |
| Other operating expenses | — | — | — | — | — | — | — | — | — | — | — | — | $141M | — | — | — |
| Operating income | $695M | $1.2B | $684M | $387M | −$189M | −$304M | −$179M | −$54M | −$104M | −$166M | −$157M | −$100M | −$215M | −$19M | $3.9M | −$10M |
| Non-operating income | −$159M | $353M | $304M | $179M | −$18M | −$161M | −$53M | −$21M | −$1.1M | −$14M | −$15M | −$22M | −$6.9M | −$35K | −$1.1M | −$1.6M |
| Pretax income | $536M | $1.6B | $988M | $566M | −$207M | −$465M | −$232M | −$75M | −$105M | −$180M | −$172M | −$122M | −$222M | −$19M | $2.8M | −$12M |
| Taxes | $229M | $462M | −$1.6B | $127M | $60M | $34M | $35M | $7.3M | $17M | $23M | $20M | $9.4M | $4.3M | $11M | $2.1M | $476K |
| Net income | $307M | $1.1B | $2.6B | $440M | −$267M | −$499M | −$267M | −$82M | −$122M | −$203M | −$193M | −$131M | −$227M | −$29M | $737K | −$13M |
| Diluted EPS | $0.40 | $1.60 | $3.64 | $0.64 | −$0.45 | −$0.87 | −$0.46 | −$0.15 | −$0.22 | −$0.37 | −$0.37 | −$0.27 | −$0.51 | −$0.07 | $0.00 | −$0.15 |
| Diluted shares | 764.0M | 709.0M | 708.0M | 684.5M | 591.2M | 578.2M | 581.4M | 567.0M | 550.2M | 543.6M | 522.6M | 489.6M | 445.8M | 412.1M | 117.4M | 85.2M |
| Revenue growth | +24.5% | +14.9% | +16.5% | +25.3% | +29.3% | +24.9% | +17.5% | +27.6% | +29.0% | +27.8% | +48.5% | +55.1% | +51.0% | +55.3% | +115.1% | — |
| Gross margin | 70.4% | 73.4% | 74.3% | 72.3% | 68.8% | 70.0% | 70.7% | 72.1% | 71.6% | 72.6% | 73.2% | 72.9% | 73.3% | 72.3% | 72.3% | 72.8% |
| Operating margin | 6.1% | 13.5% | 8.5% | 5.6% | −3.4% | −7.1% | −5.3% | −1.9% | −4.6% | −9.4% | −11.4% | −10.8% | −36.0% | −4.7% | 1.5% | −8.8% |
| Net margin | 2.7% | 12.3% | 32.1% | 6.4% | −4.9% | −11.7% | −7.8% | −2.8% | −5.4% | −11.5% | −14.0% | −14.1% | −37.9% | −7.4% | 0.3% | −10.6% |