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PANW · NasdaqGS

Palo Alto Networks, Inc.

Software - Infrastructure · United States

USD 430.555.8% daily changeQuote 2026-10-06 · USD
Market cap (USD)
US$352.19B
Trailing P/E
1,076.38x
Forward P/E
88.24x
Quarterly revenue growth
34.5%
Trailing net margin
2.7%
Indicated dividend yield
—

Snapshot 2026-10-06 · Latest financial period 2026-07-31 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.

Next earnings: 2026-11-19 (provider estimate, not issuer-confirmed).

Company background

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.

Company website

Q4 FY2026

Go beyond the headline.

PANW Stock: Revenue +34%, But Its Own Filing Says 16% - We Say SELL (Q4 FY2026)

Published 2026-09-03

Comparable businesses

PANW peer comparison

Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.

Comparison stocks

Market metrics · missing or inapplicable values shown as —
MetricPANWPalo Alto Networks, Inc.Snapshot 2026-10-06Financial period: 2026-07-31CRWDCrowdStrike Holdings, Inc.Snapshot 2026-10-06Financial period: 2026-07-31FTNTFortinet, Inc.Snapshot 2026-10-06Financial period: 2026-06-30Peer medianSimilar-size peers only
Market capMarket value, converted to USDUS$352.19BUS$292.28BUS$140.29BUS$216.29Bn=2
Forward P/EProvider forward earnings estimate88.24x177.75x50.61x114.18xn=2
EV / EBITDAEnterprise value / trailing EBITDA212.97x2,573.82x50.69x1,312.25xn=2
Revenue growthLatest quarter vs prior-year quarter34.5%25.8%25.6%25.7%n=2
Operating marginLatest reported quarter5.4%-2.3%33.6%15.7%n=2
Free cash flow yieldTrailing cash flow / market cap1.2%0.7%1.6%1.1%n=2
Net debt / EBITDANet debt / trailing EBITDA-0.32x-39.24x-1.35x-20.30xn=2
Debt / equityTotal debt / positive book equity0.09x0.16x0.36x0.26xn=2
Trailing P/ETrailing twelve-month earnings1,076.38x4,757.51x67.56x2,412.53xn=2
Price / bookPrice / positive book equity per share12.76x57.28x90.45x73.87xn=2
EV / salesEnterprise value / trailing revenue28.94x50.97x17.48x34.23xn=2
Earnings growthLatest quarter vs prior-year quarter——43.9%—
Gross marginTrailing twelve months70.4%75.2%80.2%77.7%n=2
Net marginTrailing twelve months2.7%0.8%28.2%14.5%n=2
Return on equityProvider trailing return; positive equity only1.7%1.5%117.4%59.5%n=2
Free cash flow marginTrailing free cash flow / revenue36.9%37.0%30.1%33.5%n=2
Dividend yieldIndicated annual dividend / price————
Earnings payoutProvider trailing dividend payout0.0%0.0%0.0%0.0%n=2
Current ratioCurrent assets / current liabilities0.87x1.57x1.28x1.43xn=2
BetaProvider historical market sensitivity0.931.201.041.12n=2

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Comparison methodology & limitations

Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.

Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.

Reported performance

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Valuation & price history

Adjusted closing price

Price history

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Earnings-multiple scenario

Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.

Starting assumptions, when available, use provider forward estimates as of 2026-10-06. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.

THE RESEARCH RECORD

Research history for PANW

All available reporting periods
Q4 FY20262026-09-03
Q3 FY20262026-06-02
Q2 FY20262026-04-15

Reported figures

Verify material figures against company filings. Market data and AI-assisted analysis may contain errors.