Palo Alto Networks, Inc. (PANW) FY2026 Financial Statements: Revenue $11.48B, Net income $307.00M
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PeriodFY2026Q3 FY2026
Published
Palo Alto Networks reported $11.48 billion in revenue for FY2026, the fiscal year ended July 31, 2026, up 24.5% from a year earlier. Reported earnings went the other way: net income was $307 million, down 72.9%, or $0.40 per diluted share, and operating income was $695 million, down 44.1%, as the CyberArk and Chronosphere acquisitions the company closed during the year brought amortization of acquired intangibles, acquisition-related compensation and a non-cash fair value charge on the convertible notes assumed with CyberArk into the results. Cash generation kept building, with free cash flow of $4.11 billion, up 18.6%, and Next-Generation Security annualized recurring revenue of $9.1 billion at July 31, 2026, up 62.5%.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $11,480,000,000 | up 24.5% |
| Net income | $307,000,000 | down 72.9% |
| Diluted EPS | $0.40 | down 75.0% |
| Operating income | $695,000,000 | down 44.1% |
| Free cash flow | $4,113,000,000 | up 18.6% |
| Next-Generation Security ARR | $9,100,000,000 | up 62.5% |
Figures link to the filing they came from. Wherever the SEC filing tags a number, that number is linked: click it and the filing opens at the exact line that prints it. Figures calculated here, such as margins, free cash flow and trailing-twelve-month totals, have no line in a filing to point to and are not linked.
About this file
| Ticker | PANW |
|---|---|
| CIK | 0001327567 |
| Company | Palo Alto Networks, Inc. |
| Business type | software |
| Schema template | standard (subscription cybersecurity software): revenue split between product and subscription and support, gross profit, operating income, net income, diluted EPS; balance sheet with deferred revenue and total debt; operating cash flow, capital expenditures and free cash flow, alongside the recurring-revenue metrics the company itself reports (Next-Generation Security ARR and remaining performance obligations) |
| Reporting currency | USD |
| Converted to USD | no |
| Units | actual dollars (not millions); share counts in actual shares; per-share amounts in dollars |
PANW annual income statement, balance sheet and cash flow
| FY2026 | FY2025 | FY2024 | |
|---|---|---|---|
| Period start | 2025-08-01 | 2024-08-01 | 2023-08-01 |
| Period end | 2026-07-31 | 2025-07-31 | 2024-07-31 |
| Period type | fiscal year | fiscal year | fiscal year |
| Source accession | 10-K | 10-K | 10-K |
| Balance sheet | |||
| Cash and cash equivalents | 2,514,000,000 | 2,269,000,000 | |
| Short term investments | 557,000,000 | 635,000,000 | |
| Accounts receivable net | 3,629,000,000 | 2,965,000,000 | |
| Total current assets | 8,643,000,000 | 7,523,000,000 | |
| Long term investments | 4,835,000,000 | 5,555,000,000 | |
| Goodwill | 22,010,000,000 | 4,567,000,000 | |
| Intangible assets net | 7,017,000,000 | 763,000,000 | |
| Total assets | 48,460,000,000 | 23,576,000,000 | |
| Deferred revenue current | 7,747,000,000 | 6,302,000,000 | |
| Total current liabilities | 9,923,000,000 | 7,988,000,000 | |
| Convertible senior notes noncurrent | 1,774,000,000 | 0 | |
| Deferred revenue noncurrent | 7,009,000,000 | 6,450,000,000 | |
| Total liabilities | 20,968,000,000 | 15,752,000,000 | |
| Retained earnings | 2,791,000,000 | 2,484,000,000 | |
| Total stockholders equity | 27,492,000,000 | 7,824,000,000 | |
| Shares outstanding | 815,000,000 | 668,000,000 | |
| Convertible senior notes current | 0 | 0 | |
| Total debt | 1,774,000,000 | 0 | |
| Total deferred revenue | 14,756,000,000 | 12,752,000,000 | |
| Cash flow | |||
| Share based compensation | 1,774,000,000 | 1,295,000,000 | 1,076,000,000 |
| Depreciation and amortization | 855,000,000 | 343,000,000 | 284,000,000 |
| Operating cash flow | 4,553,000,000 | 3,716,000,000 | 3,258,000,000 |
| Business acquisitions net of cash acquired | -4,663,000,000 | -1,054,000,000 | -611,000,000 |
| Capital expenditures | -440,000,000 | -247,000,000 | -157,000,000 |
| Investing cash flow | -3,104,000,000 | -2,205,000,000 | -1,510,000,000 |
| Financing cash flow | -1,202,000,000 | -779,000,000 | -1,343,000,000 |
| Free cash flow | 4,113,000,000 | 3,469,000,000 | 3,101,000,000 |
| Adjusted free cash flow non GAAP | 4,414,000,000 | 3,507,000,000 | |
| Key metrics | |||
| Next generation security arr | 9,100,000,000 | 5,600,000,000 | |
| Remaining performance obligations | 21,200,000,000 | 15,800,000,000 | |
| Non GAAP | |||
| Non GAAP operating income | 3,356,000,000 | 2,652,000,000 | |
| Non GAAP net income | 2,931,000,000 | 2,345,000,000 | |
| Non GAAP diluted EPS | 3.84 | 3.34 | |
| Non GAAP source accession | 0001327567-26-000019 | 0001327567-26-000019 | |
| Key metrics source accession | 10-K | 10-K | |
| Income statement | |||
| Product revenue | 2,280,000,000 | 1,802,000,000 | 1,603,000,000 |
| Subscription and support revenue | 9,200,000,000 | 7,419,000,000 | 6,424,000,000 |
| Total revenue | 11,480,000,000 | 9,221,000,000 | 8,027,000,000 |
| Total cost of revenue | 3,403,000,000 | 2,451,000,000 | 2,059,000,000 |
| Gross profit | 8,077,000,000 | 6,770,000,000 | 5,968,000,000 |
| Research and development | 2,552,000,000 | 1,984,000,000 | 1,810,000,000 |
| Sales and marketing | 3,931,000,000 | 3,100,000,000 | 2,794,000,000 |
| General and administrative | 899,000,000 | 443,000,000 | 680,000,000 |
| Total operating expenses | 7,382,000,000 | 5,527,000,000 | 5,284,000,000 |
| Operating income | 695,000,000 | 1,243,000,000 | 684,000,000 |
| Other income net | -159,000,000 | 353,000,000 | 304,000,000 |
| Income before income taxes | 536,000,000 | 1,596,000,000 | 988,000,000 |
| Provision for income taxes | 229,000,000 | 462,000,000 | -1,590,000,000 |
| Net income | 307,000,000 | 1,134,000,000 | 2,578,000,000 |
| Basic EPS | 0.41 | 1.71 | 4.04 |
| Diluted EPS | 0.40 | 1.60 | 3.64 |
| Basic shares | 749,000,000 | 663,000,000 | 638,000,000 |
| Diluted shares | 764,000,000 | 709,000,000 | 708,000,000 |
| Interest expense | n/a | n/a | n/a |
PANW quarterly income statement, balance sheet and cash flow
| Q4 FY2026 | Q3 FY2026 | Q3 FY2025 | |
|---|---|---|---|
| Fiscal quarter | 4 | 3 | 3 |
| Period start | 2026-05-01 | 2026-02-01 | 2025-02-01 |
| Period end | 2026-07-31 | 2026-04-30 | 2025-04-30 |
| Period type | three months | three months | three months |
| Source accession | 10-K | 0001327567-26-000015 | 0001327567-26-000015 |
| Balance sheet | |||
| Cash and cash equivalents | 2,514,000,000 | 2,364,000,000 | |
| Short term investments | 557,000,000 | 747,000,000 | |
| Accounts receivable net | 3,629,000,000 | 2,852,000,000 | |
| Total current assets | 8,643,000,000 | 7,713,000,000 | |
| Long term investments | 4,835,000,000 | 3,881,000,000 | |
| Goodwill | 22,010,000,000 | 21,902,000,000 | |
| Intangible assets net | 7,017,000,000 | 7,283,000,000 | |
| Total assets | 48,460,000,000 | 46,266,000,000 | |
| Deferred revenue current | 7,747,000,000 | 7,113,000,000 | |
| Total current liabilities | 9,923,000,000 | 9,006,000,000 | |
| Convertible senior notes noncurrent | 1,774,000,000 | 1,192,000,000 | |
| Deferred revenue noncurrent | 7,009,000,000 | 6,492,000,000 | |
| Total liabilities | 20,968,000,000 | 18,598,000,000 | |
| Retained earnings | 2,791,000,000 | 3,073,000,000 | |
| Total stockholders equity | 27,492,000,000 | 27,668,000,000 | |
| Shares outstanding | 815,000,000 | 813,000,000 | |
| Convertible senior notes current | 0 | 160,000,000 | |
| Total debt | 1,774,000,000 | 1,352,000,000 | |
| Total deferred revenue | 14,756,000,000 | 13,605,000,000 | |
| Cash flow | |||
| Share based compensation | 460,000,000 | ||
| Depreciation and amortization | 341,000,000 | ||
| Operating cash flow | 1,357,000,000 | 871,000,000 | 628,000,000 |
| Business acquisitions net of cash acquired | -100,000,000 | ||
| Capital expenditures | -103,000,000 | -83,000,000 | -68,000,000 |
| Investing cash flow | -1,006,000,000 | ||
| Financing cash flow | -197,000,000 | ||
| Free cash flow | 1,254,000,000 | 788,000,000 | 560,000,000 |
| Adjusted free cash flow non GAAP | 1,289,000,000 | 910,000,000 | 578,000,000 |
| Key metrics | |||
| Next generation security arr | 9,100,000,000 | 8,100,000,000 | |
| Remaining performance obligations | 21,200,000,000 | 18,400,000,000 | |
| Next generation security arr yoy growth percent | 60.0 | ||
| Next generation security arr from acquisitions | 1,600,000,000 | ||
| Remaining performance obligations yoy growth percent | 36.0 | ||
| Remaining performance obligations from acquisitions | 1,800,000,000 | ||
| Key metrics source accession | 10-K | 0001327567-26-000012 | |
| Non GAAP source accession | 0001327567-26-000019 | 0001327567-26-000012 | 0001327567-26-000012 |
| EPS source accession | 0001327567-26-000019 | ||
| Income statement | |||
| Product revenue | 738,000,000 | 594,000,000 | 453,000,000 |
| Subscription and support revenue | 2,672,000,000 | 2,408,000,000 | 1,836,000,000 |
| Total revenue | 3,410,000,000 | 3,002,000,000 | 2,289,000,000 |
| Total cost of revenue | 1,106,000,000 | 974,000,000 | 619,000,000 |
| Gross profit | 2,304,000,000 | 2,028,000,000 | 1,670,000,000 |
| Research and development | 779,000,000 | 734,000,000 | 494,000,000 |
| Sales and marketing | 1,127,000,000 | 1,161,000,000 | 793,000,000 |
| General and administrative | 226,000,000 | 316,000,000 | 164,000,000 |
| Total operating expenses | 2,132,000,000 | 2,211,000,000 | 1,451,000,000 |
| Operating income | 172,000,000 | -183,000,000 | 219,000,000 |
| Other income net | -441,000,000 | 27,000,000 | 93,000,000 |
| Income before income taxes | -269,000,000 | -156,000,000 | 311,000,000 |
| Provision for income taxes | 13,000,000 | 21,000,000 | 49,000,000 |
| Net income | -282,000,000 | -177,000,000 | 262,000,000 |
| Interest expense | n/a | 0 | -1,000,000 |
| Basic EPS | -0.35 | -0.22 | 0.39 |
| Diluted EPS | -0.35 | -0.22 | 0.37 |
| Basic shares | 817,000,000 | 801,000,000 | 665,000,000 |
| Diluted shares | 817,000,000 | 801,000,000 | 707,000,000 |
| Non GAAP | |||
| Non GAAP operating income | 1,011,000,000 | 814,000,000 | 627,000,000 |
| Non GAAP net income | 853,000,000 | 684,000,000 | 561,000,000 |
| Non GAAP diluted EPS | 1.02 | 0.85 | 0.80 |
| Cash flow source accession | 0001327567-26-000012 | 0001327567-26-000012 | |
- Note, Q4 FY2026. The fourth quarter of fiscal 2026 is derived: its income statement and cash flow lines are the full fiscal year ended July 31, 2026, as reported in the annual report on Form 10-K, less the nine months ended April 30, 2026 as reported in the quarterly report on Form 10-Q. Neither of those filings prints a fourth-quarter column. Weighted-average share counts are averages and cannot be obtained by subtraction, so the per-share amounts and share counts shown here are not derived on either basis: the basic and diluted net loss per share of $(0.35) and the 817 million basic and 817 million diluted weighted-average shares are all amounts printed for the quarter in the statement of operations in the company's fiscal fourth quarter and full year 2026 results announcement (accession 0001327567-26-000019), which the period carries in eps_source_accession. That announcement shows the same loss per share and the same share count on both bases, the potentially dilutive effect of employee equity awards being excluded from the diluted count in a quarter with a net loss. The quarter's non-GAAP operating income, non-GAAP net income, non-GAAP diluted earnings per share and adjusted free cash flow are likewise the fourth-quarter amounts printed in the reconciliation tables of that same results announcement, carried in non_gaap_source_accession. The balance sheet shown is the July 31, 2026 balance sheet printed in the 10-K, and the Next-Generation Security ARR and remaining performance obligations shown are the July 31, 2026 balances printed in the 10-K; neither is derived.
PANW year-to-date income statement and cash flow
| Nine Months Ended April 30, 2026 | Nine Months Ended April 30, 2025 | |
|---|---|---|
| Income statement | ||
| Product revenue | 1,542,000,000 | 1,228,000,000 |
| Subscription and support revenue | 6,528,000,000 | 5,457,000,000 |
| Total revenue | 8,070,000,000 | 6,685,000,000 |
| Total cost of revenue | 2,297,000,000 | 1,772,000,000 |
| Gross profit | 5,773,000,000 | 4,913,000,000 |
| Research and development | 1,773,000,000 | 1,480,000,000 |
| Sales and marketing | 2,804,000,000 | 2,271,000,000 |
| General and administrative | 673,000,000 | 416,000,000 |
| Total operating expenses | 5,250,000,000 | 4,167,000,000 |
| Operating income | 523,000,000 | 746,000,000 |
| Interest expense | 0 | -3,000,000 |
| Other income net | 282,000,000 | 261,000,000 |
| Income before income taxes | 805,000,000 | 1,004,000,000 |
| Provision for income taxes | 216,000,000 | 124,000,000 |
| Net income | 589,000,000 | 880,000,000 |
| Basic EPS | 0.81 | 1.33 |
| Diluted EPS | 0.79 | 1.24 |
| Basic shares | 729,000,000 | 659,000,000 |
| Diluted shares | 744,000,000 | 708,000,000 |
| Cash flow | ||
| Share based compensation | 1,314,000,000 | 941,000,000 |
| Depreciation and amortization | 514,000,000 | 259,000,000 |
| Operating cash flow | 3,196,000,000 | 2,695,000,000 |
| Business acquisitions net of cash acquired | -4,563,000,000 | -499,000,000 |
| Capital expenditures | -337,000,000 | -160,000,000 |
| Investing cash flow | -2,098,000,000 | -1,442,000,000 |
| Financing cash flow | -1,005,000,000 | -405,000,000 |
| Free cash flow | 2,859,000,000 | 2,535,000,000 |
| Period start | 2025-08-01 | 2024-08-01 |
| Period end | 2026-04-30 | 2025-04-30 |
| Period type | nine months | nine months |
| Source accession | 0001327567-26-000015 | 0001327567-26-000015 |
- Note, Nine Months Ended April 30, 2026. The cumulative nine-month column printed on the face of the quarterly report for the quarter ended April 30, 2026. It is shown here because the fourth quarter of fiscal 2026 in the quarterly list is obtained by subtracting these nine months from the full fiscal year.
Adjustments
| Splits applied | Two-for-one stock split effected December 12, 2024. Share and per-share amounts in both filings used here are already restated for it by the company, so no further adjustment was applied. |
|---|---|
| ADR ratio | n/a |
| FX | None. The company reports in U.S. dollars. |
Notes
- Palo Alto Networks' fiscal year ends July 31. Fiscal 2026 is the year ended July 31, 2026.
- Fiscal 2026, 2025 and 2024 come from the annual report on Form 10-K for the year ended July 31, 2026 (accession 0001327567-26-000023) - the three years that report puts on the face of its statements of operations and cash flows. The third quarter of fiscal 2026, the year-ago third quarter and the nine-month columns come from the quarterly report on Form 10-Q for the quarter ended April 30, 2026 (accession 0001327567-26-000015).
- The fourth quarter of fiscal 2026 is not printed as a column in either filing. Its income statement and cash flow lines are derived here as the full fiscal year reported in the 10-K less the nine months ended April 30, 2026 reported in the 10-Q. Weighted-average share counts are averages and cannot be obtained by subtraction, so the quarter's net loss per share and weighted-average share count on both the basic and the diluted basis, together with its non-GAAP measures, are taken instead from the company's own fiscal fourth quarter and full year 2026 results announcement (accession 0001327567-26-000019). The quarter's balance sheet and its Next-Generation Security ARR and remaining performance obligations are the July 31, 2026 balances printed in the 10-K and are not derived. The company's own fiscal fourth quarter and full year 2026 results announcement (accession 0001327567-26-000019) separately prints fourth-quarter total revenue of $3,410 million, operating income of $172 million, a net loss of $282 million, net cash provided by operating activities of $1,357 million, capital expenditures of $103 million and free cash flow of $1,254 million, all of which match the figures derived here.
- The first and second quarters of fiscal 2026 are not reported here, because neither the annual report nor the quarterly report used for this record prints a column for them.
- The fiscal 2026 10-K no longer presents interest expense as a separate line on the face of its statements of operations, combining it into 'Other income (expense), net', and states that certain prior period amounts have been reclassified to conform to the current presentation. The notes to those statements do still disclose it, as a component of other income (expense), net: interest expense was nil in fiscal 2026, $3 million in fiscal 2025 and $8 million in fiscal 2024. Because of that presentation, the annual other income (expense), net figures shown here are the combined totals and already include interest expense, so no separate annual interest expense amount is carried alongside them - carrying one would count interest twice against income before income taxes. The quarterly report still presented interest expense on its own line, so the quarterly and nine-month periods taken from it carry interest expense separately and their other income (expense), net figures exclude it.
- The fiscal 2026 10-K states its figures in whole millions, where the prior year's annual report stated them to the nearest $0.1 million. Fiscal 2025 and fiscal 2024 are reported here exactly as the fiscal 2026 10-K prints them, so they can differ by up to about $1 million from the amounts published in the earlier annual report - fiscal 2025 total revenue, for instance, is $9,221 million here against $9,221.5 million as previously published. All three fiscal years were taken from the fiscal 2026 10-K so that they sit on a single basis.
- Fiscal 2024 carries no balance sheet, because the 10-K's balance sheet presents July 31, 2026 and July 31, 2025 only. The year-ago third quarter carries no balance sheet, because the 10-Q's balance sheet presents April 30, 2026 and July 31, 2025 only.
- Capital expenditures are the line the company calls 'purchases of property, equipment, and other assets' and are shown here as cash outflows (negative). Free cash flow is the company's own definition: net cash provided by operating activities less those purchases.
- Total debt is the convertible senior notes assumed with the acquisition of CyberArk Software Ltd., which are carried at fair value: $1,774 million of long-term convertible senior notes at July 31, 2026. The $160 million of short-term convertible senior notes outstanding at April 30, 2026 were repaid during the fourth quarter, and the July 31, 2026 balance sheet prints no current convertible notes line. The company had no borrowings outstanding at July 31, 2025.
- Total deferred revenue is the sum of the current and long-term deferred revenue lines on the balance sheet: $14,756 million at July 31, 2026 and $12,752 million at July 31, 2025.
- Fiscal 2026 was reshaped by acquisitions. The company acquired Chronosphere, Inc. on January 29, 2026, CyberArk Software Ltd. on February 11, 2026, Koi on April 14, 2026 and Portkey on May 29, 2026, and completed the acquisitions of Embrace on August 27, 2026 and Console on September 1, 2026, after the fiscal year end. CyberArk was paid for largely in stock: 112 million shares valued at $18,488 million were issued. Over the year goodwill rose from $4,567 million to $22,010 million, intangible assets, net from $763 million to $7,017 million, shares issued and outstanding from 668 million to 815 million, and total stockholders' equity from $7,824 million to $27,492 million.
- Total revenue grew 24% in fiscal 2026 to $11,480 million, but operating income fell to $695 million from $1,243 million in fiscal 2025. The year carried $855 million of depreciation and amortization against $343 million in fiscal 2025, and $1,774 million of share-based compensation for equity-based awards against $1,295 million. Below operating income, other income (expense), net was negative $159 million against positive $353 million a year earlier; the cash flow statement adds back a $562 million non-cash charge for the change in fair value of the convertible senior notes and capped calls acquired with CyberArk, which the company also excludes from its non-GAAP results.
- Fiscal 2024's income tax line is a benefit of $1,590 million rather than an expense, shown here as a negative provision. That benefit is why fiscal 2024 net income of $2,578 million exceeds both fiscal 2025's $1,134 million and fiscal 2026's $307 million even though revenue grew in each year.
- Next-Generation Security annualized recurring revenue and remaining performance obligations are the company's own operating metrics, reported in billions to one decimal place: $9.1 billion and $21.2 billion at July 31, 2026 against $5.6 billion and $15.8 billion at July 31, 2025. The 10-K's table prints those two dates only, so no fiscal 2024 figures are carried here.
- Non-GAAP operating income, non-GAAP net income, non-GAAP diluted earnings per share and adjusted free cash flow are the company's own measures and are taken from the reconciliation tables in its fiscal fourth quarter and full year 2026 results announcement (accession 0001327567-26-000019) for the fiscal years and for the fourth quarter of fiscal 2026, and from the fiscal third quarter 2026 results announcement (accession 0001327567-26-000012) for the third quarters of fiscal 2026 and fiscal 2025. The company excludes share-based compensation-related charges, acquisition-related costs, amortization of acquired intangible assets, litigation-related charges, changes in the fair value of the convertible notes and capped calls, and related income tax adjustments.
- The 10-Q presents its cash flow statement on a nine-month basis only, so it contains no three-month cash flow figures. Operating cash flow, capital expenditures and free cash flow for the third quarter of fiscal 2026 and for the year-ago third quarter are taken from the fiscal third quarter 2026 results announcement furnished on Form 8-K (accession 0001327567-26-000012); each of those periods carries that accession in cash_flow_source_accession.
- The nine-month block is the cumulative column printed on the face of the 10-Q, with the year-ago nine months alongside it. It is kept separate from the quarterly list because it is not a quarter, and it is shown because it is one of the two inputs to the derived fourth quarter. Its free cash flow of $2,859 million, and $2,535 million for the year-ago nine months, is printed in the 10-Q's own free cash flow reconciliation.
- No trailing-twelve-month view is reported: fiscal 2026 is a complete fiscal year, so the twelve months ended July 31, 2026 are the fiscal 2026 figures already shown.
- The company effected a two-for-one stock split on December 12, 2024. Both filings used here already state all share and per-share amounts on a post-split basis, so no split adjustment was applied to any figure in this record.
Uncertainties
- The fourth quarter of fiscal 2026 is derived by subtraction rather than read from a printed column. Its income statement and cash flow lines each reconcile to the company's own fourth-quarter figures in its results announcement, but they are still a difference of two reported periods rather than a column the company presents in a periodic report.
- The fourth quarter of fiscal 2026 net loss per share of $(0.35) on both the basic and the diluted basis, its 817 million basic and 817 million diluted weighted-average shares, its non-GAAP measures and its adjusted free cash flow come from the company's furnished fiscal fourth quarter and full year 2026 results announcement rather than from the annual or quarterly report the rest of that period is built on; the period carries that accession in eps_source_accession and non_gaap_source_accession. None of those per-share amounts or share counts is obtained by subtraction.
- Fiscal 2025 and fiscal 2024 are stated in the whole millions the fiscal 2026 10-K prints. Amounts published for those years in the prior year's annual report were stated to the nearest $0.1 million and can differ from these by up to about $1 million.
- Current convertible senior notes are reported as zero at July 31, 2026 because the balance sheet prints no such line at that date; the company repaid $160 million of convertible senior notes during fiscal 2026.
- Total debt and total deferred revenue are taken from, or summed from, individual balance sheet lines rather than subtotals the company itself strikes.
- No balance sheet is reported for fiscal 2024 or for the third quarter of fiscal 2025, because neither filing presents one for those dates.
- Third-quarter operating cash flow, capital expenditures and free cash flow, for both fiscal 2026 and fiscal 2025, come from a results announcement whose tables are labelled preliminary and unaudited and are rounded to whole millions. They are not restated in the 10-Q, which presents nine-month cash flows only.
- Next-Generation Security ARR and remaining performance obligations are reported by the company only to one decimal place in billions, so the levels shown carry that precision and not more.
Company details
| Name | Palo Alto Networks Inc |
|---|---|
| Ticker | PANW |
| CIK | 0001327567 |
| Exchange | Nasdaq |
| State | California |
| Incorporation | Delaware |
| SIC | 3577 |
| Office | Technology |
| Industry | Computer Peripheral Equipment, NEC |
Fiscal period
| Fiscal year | 2026 |
|---|---|
| Fiscal period | FY |
| Tag | FY26 |
| Period end | 2026-07-31 |
| Form | 10-K |
| Accession | 0001327567-26-000023 |
| Fiscal year end | 0731 |
| Source | facts |
Source filings
| Role | Current | Form | Fiscal year | Fiscal period | Tag | Period end | Filed | Accession | Source |
|---|---|---|---|---|---|---|---|---|---|
| annual | yes | 10-K | 2026 | FY | FY26 | 2026-07-31 | 2026-09-10 | 0001327567-26-000023 | facts |
FAQ · Palo Alto Networks financial statements
How much revenue did Palo Alto Networks make in FY2026?
Palo Alto Networks reported $11.48 billion in revenue for FY2026, the fiscal year ended July 31, 2026. That is up 24.5% from $9.22 billion a year earlier.
Why did Palo Alto Networks' net income fall in FY2026?
Palo Alto Networks' net income fell to $307 million in FY2026 from $1.13 billion a year earlier, down 72.9%, even though revenue grew. The decline follows the CyberArk and Chronosphere acquisitions the company closed during the year: amortization of acquired intangibles and acquisition-related compensation pushed operating income down to $695 million from $1.24 billion, and a non-cash fair value charge on the convertible notes assumed with CyberArk swung other income (expense), net to a net expense from income a year earlier, accounting for much of the remaining shortfall below the operating line.
How much free cash flow did Palo Alto Networks generate in FY2026?
Palo Alto Networks generated $4.11 billion of free cash flow in FY2026, the fiscal year ended July 31, 2026, up 18.6% from $3.47 billion a year earlier. Cash generation grew even as reported earnings fell, and the company earned $0.40 per diluted share for the year.
What is Palo Alto Networks' Next-Generation Security ARR?
Next-Generation Security annualized recurring revenue was $9.1 billion at July 31, 2026, the end of FY2026, up 62.5% from $5.6 billion a year earlier. Palo Alto Networks reports it alongside its GAAP results as the measure of recurring revenue from its newer security offerings.
Where can I get Palo Alto Networks, Inc. (PANW) financial data in machine-readable form?
Ticker Scout publishes Palo Alto Networks, Inc.'s financial statements as JSON at https://tickerscout.ai/panw/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/panw/narrative.md and https://tickerscout.ai/panw/events.md. Palo Alto Networks, Inc.'s SEC CIK is 0001327567. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does Palo Alto Networks, Inc. (PANW) next file with the SEC?
Palo Alto Networks, Inc. (PANW) is expected to file its next Form 10-Q with the SEC on or around November 19, 2026. That date is a projection rather than a company-announced date: it is derived from Palo Alto Networks, Inc.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-K for FY2026, the period ended 2026-07-31, SEC accession 0001327567-26-000023.
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How this page was built
This page was built from four of Palo Alto Networks, Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names eight such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
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Built from Palo Alto Networks, Inc.'s SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.