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.
Palo Alto Networks, Inc. (PANW) reported trailing twelve months revenue of $10.61B as of April 2026, a 19.5% increase year-over-year. Quarterly revenue reached $3.00B, reflecting continued top-line momentum.
Palo Alto Networks, Inc. generated $842.80M in TTM net income, with quarterly EBITDA of $151.00M. The operating margin contracted from 9.6% to -6.1%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (-6.1%) and net margin (-5.9%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 11.5% a year ago, reflecting increased costs or interest expense.
PANW trades at a P/E of 172.5x (a premium multiple) and a P/S of 13.7x. The price-to-book ratio of 5.3x indicates a significant premium over book value.
The company generated $788.00M in free cash flow over the trailing twelve months, a 40.6% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $46.27B in total assets with $1.19B in long-term debt against $27.67B in stockholders equity for a debt-to-equity ratio of 0.0, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 10.7%. The business may lack pricing power or face rising costs.'
ROE averages 22.1% but has fluctuated — the competitive advantage may be cyclical or emerging.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~32.1% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Operating margins declined 7.2% — watch for continued compression, which may signal competitive or cost pressure.
FCF covers net income by 1.8x on average — earnings are well-supported by cash generation.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding increased 23.5% — significant dilution, likely from stock compensation or capital raises.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation