PANW Palo Alto Networks

XNGS Up Position vs. buy zone Alert

Technology

· How we analyze

About the company

Palo Alto Networks is a US cybersecurity provider. The company became known for firewalls; today it also offers cloud security, endpoint protection and services for defending against attacks. Customers are companies and government agencies worldwide. As of Oct 11, 2026

Fact sheet (from the annual report) Computer peripherals and network security · Santa Clara, USA

Palo Alto Networks offers cybersecurity with the help of artificial intelligence for users, networks, clouds, endpoints and identities. This includes hardware or virtual firewalls that run on the PAN-OS operating system. Cloud-based services such as Prisma Access protect remote sites and mobile users. In addition, there are cloud services against malware and phishing as well as consulting and incident response. Customers are companies, service providers and government agencies; a significant share of sales runs through distributors that supply resellers. Virtual firewalls are also available through cloud providers’ marketplaces.

Automatically summarized from SEC annual report (10-K, filed Sep 10, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026

Price performance at a glance

Last 30 trading days
  • Today +2.9%
  • 7 days +18.1%
  • 30 days +7.2%
  • 1 year +82.4%
Day range (last trading day)
−3.3%Price at 81% of the range+0.8%
52-week range
−65.3%Price at 90% of the range+7.6%
Distance from the all-time high
−7.1%

Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.

Where is the price relative to the buy zone?

Was in the buy zone

  1. Still far away
  2. Close
  3. In the buy zone
  4. Below

The price was in the buy zone and is now back just above it.

As of: Close of the 4-hour candle Oct 27, 2026, 18:30 · Buy zone in the trade plan · An observation, not investment advice

Rule (4-hour candles) Zone valid since Oct 16, 2026 · last changed on Oct 20, 2026

Watcher Full history: every change of the buy zone with its date.

Automated analysis (rule-based)

How we analyze

Timeframe 4 hours · As of Oct 27, 2026

Elliott wave analysis Palo Alto Networks (4-hour candles): wave 2 retracing, buy zone 61.8–78.6% of the advance, invalid below the start of wave 1. Elliott count: Impulse, Impulse pattern (downward), Wave 2 in progress (3 of 3 guidelines). Candlestick chart PANW with 86 4-hour candles from Aug 27, 2026, 15:30 to Oct 27, 2026, 18:30. Price was in the buy zone, now back above it. Rule setup: start on Sep 2, 2026, 19:30, high on Oct 6, 2026, 15:30, pullback low on Oct 20, 2026, 15:30. All values as the distance from the top of the buy zone. Buy zone (61.8 to 78.6%) 0 to −5.1% (targets and stop for this zone from Watcher), invalid on a close below the start (−11.7%). Elliott count: Impulse, Impulse pattern (downward), Wave 2 in progress (3 of 3 guidelines) (W2 = 72% of W1), invalid on a close above +18.9%. Rule setup on 4-hour candles – the rule evaluates PANW on this timeframe. Automated analysis (rule-based), not investment advice. PANW · 4-hour candles · Automated analysis (rule-based) Price was in the buy zone, now back above it Start High Pullback low 61.80% (0%) 78.60% (−5.1%) invalid (−11.7%) invalid on a close above +18.9% 0 1 2 in progress (a) (b) (c) −10% −5% 0% +5% +10% +15% +20% Aug 31 Sep 9 Sep 17 Sep 25 Oct 5 Oct 13 Oct 21 last candle Oct 27, 2026, 18:30 · not investment advice Axis and values in brackets: distance from the top of the buy zone in %
  • 4-hour candles (green = close above open, red = below)
  • Rule setup (blue line start → high → pullback low)
  • Buy zone (0.618–0.786) 0 to −5.1%
  • Setup void on a close below the start (level 1 = 100%)
  • Watcher Target 1, Target 2 and stop for this zone from Watcher
  • Elliott count (thin gold line, waves in circles; dashed circle = still in progress; small = subwaves; red dashed = invalidation level)

Elliott count: Impulse, Impulse pattern (downward), Wave 2 in progress (3 of 3 guidelines) · W2 = 72% of W1

Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.

How to draw it yourself
  1. Load the TradingView chart and choose the timeframe 4 hours (4-hour candles) – the buttons above the chart switch it as well.
  2. In the drawing toolbar on the left, choose the Fib Retracement tool (group with the horizontal lines).
  3. Click on the start of wave 1 (low of Sep 2, 2026 19:30) and drag to the high of Oct 6, 2026 15:30.
  4. The buy zone lies between the lines 0.618 and 0.786 (0 to −5.1%); line 1 is the start of wave 1 – if the price closes below it, the setup is void. The rule is only triggered by a candle close above the last swing high .
  5. Watcher Stop, Target 1 and Target 2 of this zone – and how to draw them – are available from Watcher.

On phones the drawing toolbar is hidden – drawing works better on a desktop.

Scenarios

Timeframe 4 hours · As of Oct 27, 2026 · from the Elliott count in the analysis chart

Weighting Main scenario (3 of 3 guidelines, strong) · no alternative

Weighting by guidelines met – not a probability.

Main scenario

strong · 3 of 3 guidelines

As long as the 4-hour close stays below the start of wave 1, this applies: Downward move in five waves (Impulse), wave 2 in progress (pullback) – count then points to falling prices.

Invalid if the 4-hour close is above the start of wave 1 (+18.9% from the top of the zone)

Alternative

If that breaks, this count no longer applies. Currently no alternative that follows the rules.

The price reached the buy zone (0 to −5.1% from its top) and last closed back above it. Rule trigger: after the touch a swing high forms, and a daily close is above it. If the price closes below the start of wave 1 (−11.7%), the setup is void. All percentages: distance from the top of the buy zone.

In the TradingView chart: Draw the buy zone in the chart with the Fibonacci tool (instructions next to the wave chart) or as two horizontal lines (tool “Horizontal Line”). If the price closes below the start of wave 1 (−11.7%), the setup is void – without an entry of the rule.

Trade plan of the rule

Exit with a gain

Buy zone – Rule trigger: candle close above the swing high

  • Buy zone (Fibonacci 61.8–78.6%) Top = reference point of the percentages 0 to −5.1%

Exit at a loss

Watcher Target 1, Target 2 and stop for this zone – with distance in percent and reward/risk – are available from Watcher. Plans and pricing Percentages from the top of the buy zone (61.8%) – not a forecast.

Rule-based, long only, 4-hour candles. Not a forecast and not investment advice. Lesson: the buy zone in 4 minutes

Save zone

With a free account: save the buy zone shown for yourself (stop and targets from Watcher). It stays visible even if the zone changes later. Log in · Sign up

Fundamental analysis

Palo Alto Networks · Sector Technology · amounts in USD

Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Sep 10, 2026.

Quality checks

Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.

Fiscal year to Jul 31, 2026

Quality 4 of 8 met

  • met: Gross margin above 40% 70.4%
  • not met: Operating margin above 15% 6.1%
  • not met: Net margin above 10% 2.7%
  • not met: Return on equity above 15% 1.1%
  • met: Free cash flow margin above 10% 35.8%
  • not met: Profit in each of the last 5 fiscal years 4 of 5
  • met: Free cash flow positive in each of the last 3 fiscal years 3 of 3
  • met: Equity ratio above 30% 56.7%
Gross margin

70.4% Fiscal year 2026

Rank 81 of 100: higher than 81% of 153 peers (All). strong.

Rank 75 of 100: higher than 75% of 57 peers (Sector). strong.

Median Technology: 56.1%

Share of revenue left after the direct cost of the products sold.

Operating margin

6.1% Fiscal year 2026

Rank 32 of 100: higher than 32% of 192 peers (All). weak.

Rank 39 of 100: higher than 39% of 60 peers (Sector). medium.

Median Technology: 14.2%

Operating income divided by revenue: what the core business earns before interest and taxes.

Net margin

2.7% Fiscal year 2026

Rank 20 of 100: higher than 20% of 237 peers (All). weak.

Rank 34 of 100: higher than 34% of 63 peers (Sector). medium.

Median Technology: 12.5%

Profit after all costs, interest and taxes divided by revenue.

Return on equity

1.1% Fiscal year 2026

Rank 17 of 100: higher than 17% of 218 peers (All). weak.

Rank 34 of 100: higher than 34% of 61 peers (Sector). medium.

Median Technology: 13.5%

Net income divided by equity at fiscal year end.

Return on assets

0.6% Fiscal year 2026 (total assets at year end)

Rank 19 of 100: higher than 19% of 238 peers (All). weak.

Rank 34 of 100: higher than 34% of 63 peers (Sector). medium.

Median Technology: 5.9%

Net income divided by total assets at fiscal year end.

Equity ratio

56.7% Fiscal year 2026

Rank 78 of 100: higher than 78% of 239 peers (All). strong.

Rank 63 of 100: higher than 63% of 63 peers (Sector). medium.

Median Technology: 51.6%

Equity as a share of total assets. Usually low for banks.

Free cash flow margin

35.8% Fiscal year 2026

Rank 91 of 100: higher than 91% of 213 peers (All). strong.

Rank 85 of 100: higher than 85% of 62 peers (Sector). strong.

Median Technology: 19.0%

Free cash flow divided by revenue.

Free cash flow

4.1B USD Fiscal year 2026

Operating cash flow minus capital expenditure on property and equipment.

Growth 5 of 6 met · 1 without data

  • met: Over 3 years, revenue grew by more than 5% per year +18.5%
  • met: Over 5 years, revenue grew by more than 5% per year +22.0%
  • met: Over 10 years, revenue grew by more than 5% per year +23.6%
  • not met: Over 3 years, EPS grew by more than 5% per year −14.5%
  • no data: Over 5 years, EPS grew by more than 5% per year not computable (loss in the first or last year, or figures missing)
  • met: Revenue rose in at least 4 of the last 5 fiscal years 5 of 5
  • met: Revenue rose in the last fiscal year +24.5%
Revenue growth 3 years

+18.5% per year

Rank 75 of 100: higher than 75% of 230 peers (All). strong.

Rank 57 of 100: higher than 57% of 59 peers (Sector). medium.

Median Technology: +14.3%

Average growth per year over 3 fiscal years.

Revenue growth 5 years

+22.0% per year

Rank 78 of 100: higher than 78% of 217 peers (All). strong.

Rank 64 of 100: higher than 64% of 54 peers (Sector). medium.

Median Technology: +14.5%

Average growth per year over 5 fiscal years.

Revenue growth 10 years

+23.6% per year

Rank 89 of 100: higher than 89% of 157 peers (All). strong.

Rank 77 of 100: higher than 77% of 37 peers (Sector). strong.

Median Technology: +12.4%

Average growth per year over 10 fiscal years.

EPS growth 3 years

−14.5% per year

Rank 14 of 100: higher than 14% of 157 peers (All). weak.

Rank 14 of 100: higher than 14% of 32 peers (Sector). weak.

Median Technology: +19.2%

Growth of earnings per share per year, adjusted for stock splits.

Dividend 0 of 1 met · 6 without data

  • not met: Pays a dividend no dividend per share reported for the last fiscal year
  • no data: Payout ratio at most 60% of earnings pays no dividend
  • no data: Dividend paid in each of the last 5 fiscal years pays no dividend
  • no data: Dividend per share never lowered in the last 5 fiscal years pays no dividend
  • no data: Dividend per share higher than 5 years ago pays no dividend
  • no data: Free cash flow per share covers the dividend pays no dividend
  • no data: Dividends paid over the last 5 years covered by free cash flow pays no dividend

Financial strength 3 of 6 met

  • not met: Piotroski F-Score at least 7 of 9 4 of 9
  • met: Long-term debt no higher than equity 0.06
  • not met: Current assets cover current liabilities 0.87
  • met: Positive equity 27.5B USD
  • not met: In 5 years, share count up by at most 5% +32.1%
  • met: Free cash flow positive in the last fiscal year 4.1B USD
Piotroski F-Score

4 of 9 Fiscal year 2026

Rank 8 of 100: higher than 8% of 134 peers (All). weak.

Rank 14 of 100: higher than 14% of 44 peers (Sector). weak.

Median Technology: 6.0 of 9

Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.

Debt / equity

0.06 at fiscal year end

Rank 90 of 100: lower than 90% of 199 peers (All). strong.

Rank 82 of 100: lower than 82% of 54 peers (Sector). strong.

Median Technology: 0.41

Long-term financial debt divided by equity.

Liquidity (current ratio)

0.87 at fiscal year end

Rank 14 of 100: higher than 14% of 215 peers (All). weak.

Rank 4 of 100: higher than 4% of 63 peers (Sector). weak.

Median Technology: 2.02

Current assets divided by current liabilities.

Change in share count

+32.1% in 5 years

Rank 16 of 100: lower than 16% of 199 peers (All). weak.

Rank 23 of 100: lower than 23% of 51 peers (Sector). weak.

Median Technology: +2.8%

Change in diluted share count. Negative = share buybacks, positive = new shares.

The 9 criteria of the Piotroski F-Score
  • met: Profit in the last fiscal year (positive return on assets)
  • met: Positive operating cash flow
  • not met: Return on assets higher than the prior year
  • met: Operating cash flow higher than net income
  • not met: Long-term debt relative to total assets fell
  • not met: Liquidity (current assets / current liabilities) rose
  • not met: No additional shares (diluted share count did not rise)
  • not met: Gross margin higher than the prior year
  • met: Revenue relative to total assets higher than the prior year

Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.

Price-based criteria (P/E, dividend yield) are shown to signed-in users.

Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.

In short

  • Light green: Revenue grew over 5 years (+22.0% per year), at least as fast as the sector median.
  • Light yellow: Net margin 2.7%, below the sector median (12.5%).
  • Light green: Debt not higher than usual in the sector.
  • Light red: Profit in 4 of 10 fiscal years.

Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.

RevenueNet income Net margin (below) in USD
  1. Fiscal year 2017 (Aug 1, 2016 – Jul 31, 2017): Revenue 1.8B USD · Net income −216.6M USD · Net margin −12.3%
  2. Fiscal year 2018 (Aug 1, 2017 – Jul 31, 2018): Revenue 2.3B USD · Net income −147.9M USD · Net margin −6.5%
  3. Fiscal year 2019 (Aug 1, 2018 – Jul 31, 2019): Revenue 2.9B USD · Net income −81.9M USD · Net margin −2.8%
  4. Fiscal year 2020 (Aug 1, 2019 – Jul 31, 2020): Revenue 3.4B USD · Net income −267.0M USD · Net margin −7.8%
  5. Fiscal year 2021 (Aug 1, 2020 – Jul 31, 2021): Revenue 4.3B USD · Net income −498.9M USD · Net margin −11.7%
  6. Fiscal year 2022 (Aug 1, 2021 – Jul 31, 2022): Revenue 5.5B USD · Net income −267.0M USD · Net margin −4.9%
  7. Fiscal year 2023 (Aug 1, 2022 – Jul 31, 2023): Revenue 6.9B USD · Net income 439.7M USD · Net margin 6.4%
  8. Fiscal year 2024 (Aug 1, 2023 – Jul 31, 2024): Revenue 8.0B USD · Net income 2.6B USD · Net margin 32.1%
  9. Fiscal year 2025 (Aug 1, 2024 – Jul 31, 2025): Revenue 9.2B USD · Net income 1.1B USD · Net margin 12.3%
  10. Fiscal year 2026 (Aug 1, 2025 – Jul 31, 2026): Revenue 11.5B USD · Net income 307.0M USD · Net margin 2.7%

Fiscal year 2026 (Aug 1, 2025 – Jul 31, 2026): Revenue 11.5B USD · Net income 307.0M USD · Net margin 2.7%

Figures over time

Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.

Money flow in fiscal year 2026

Of 100 USD of revenue, 70.4 USD gross profit, 6.1 USD operating income and 2.7 USD net income remained.

Money flow as a table
Fiscal year 2026, amounts in USD, share of revenue
ItemAmountof revenue
Revenue11.5B USD100.0%
Gross profit8.1B USD70.4%
Cost of revenue3.4B USD29.6%
Operating income695.0M USD6.1%
Research & development2.6B USD22.2%
Other operating expenses4.8B USD42.1%
Net income307.0M USD2.7%
Taxes229.0M USD2.0%
Interest & other159.0M USD1.4%

Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.

Margins

The operating margin rose in 5 years from −7.1% to 6.1%.

Gross marginOperating marginNet margin
  1. Fiscal year 2017: Gross margin 72.9% · Operating margin −10.2% · Net margin −12.3%
  2. Fiscal year 2018: Gross margin 71.6% · Operating margin −5.7% · Net margin −6.5%
  3. Fiscal year 2019: Gross margin 72.1% · Operating margin −1.9% · Net margin −2.8%
  4. Fiscal year 2020: Gross margin 70.7% · Operating margin −5.3% · Net margin −7.8%
  5. Fiscal year 2021: Gross margin 70.0% · Operating margin −7.1% · Net margin −11.7%
  6. Fiscal year 2022: Gross margin 68.8% · Operating margin −3.4% · Net margin −4.9%
  7. Fiscal year 2023: Gross margin 72.3% · Operating margin 5.6% · Net margin 6.4%
  8. Fiscal year 2024: Gross margin 74.3% · Operating margin 8.5% · Net margin 32.1%
  9. Fiscal year 2025: Gross margin 73.4% · Operating margin 13.5% · Net margin 12.3%
  10. Fiscal year 2026: Gross margin 70.4% · Operating margin 6.1% · Net margin 2.7%

Returns

Return on equity rose in 5 years from −78.6% to 1.1%.

Return on equityReturn on assets
  1. Fiscal year 2017: Return on equity −28.5% · Return on assets −6.3%
  2. Fiscal year 2018: Return on equity −15.3% · Return on assets −2.5%
  3. Fiscal year 2019: Return on equity −5.2% · Return on assets −1.2%
  4. Fiscal year 2020: Return on equity −24.2% · Return on assets −2.9%
  5. Fiscal year 2021: Return on equity −78.6% · Return on assets −4.9%
  6. Fiscal year 2022: Return on equity not available · Return on assets −2.2%
  7. Fiscal year 2023: Return on equity 25.1% · Return on assets 3.0%
  8. Fiscal year 2024: Return on equity 49.9% · Return on assets 12.9%
  9. Fiscal year 2025: Return on equity 14.5% · Return on assets 4.8%
  10. Fiscal year 2026: Return on equity 1.1% · Return on assets 0.6%

Equity and long-term debt

The equity ratio rose in 5 years from 6.2% to 56.7%.

EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases. Definition changes: some years use a different debt tag.
  1. Fiscal year 2017: Equity 759.6M USD · Long-term debt 524.7M USD
  2. Fiscal year 2018: Equity 966.4M USD · Long-term debt 1.4B USD
  3. Fiscal year 2019: Equity 1.6B USD · Long-term debt 1.4B USD
  4. Fiscal year 2020: Equity 1.1B USD · Long-term debt 3.1B USD
  5. Fiscal year 2021: Equity 634.5M USD · Long-term debt 1.7B USD
  6. Fiscal year 2022: Equity not available · Long-term debt 0.0 USD
  7. Fiscal year 2023: Equity 1.7B USD · Long-term debt 2.0B USD
  8. Fiscal year 2024: Equity 5.2B USD · Long-term debt not available
  9. Fiscal year 2025: Equity 7.8B USD · Long-term debt 0.0 USD
  10. Fiscal year 2026: Equity 27.5B USD · Long-term debt 1.8B USD

Liquidity (current ratio)

The current ratio stayed roughly the same in 5 years (0.87).

Current ratio
  1. Fiscal year 2017: Current ratio 1.65
  2. Fiscal year 2018: Current ratio 1.93
  3. Fiscal year 2019: Current ratio 1.78
  4. Fiscal year 2020: Current ratio 1.91
  5. Fiscal year 2021: Current ratio 0.91
  6. Fiscal year 2022: Current ratio 0.77
  7. Fiscal year 2023: Current ratio 0.78
  8. Fiscal year 2024: Current ratio 0.89
  9. Fiscal year 2025: Current ratio 0.94
  10. Fiscal year 2026: Current ratio 0.87

Cash flow

Free cash flow rose in 5 years from 1.4B USD to 4.1B USD.

Operating cash flowCapital expenditureFree cash flow in USD
  1. Fiscal year 2017: Operating cash flow 868.5M USD · Capital expenditure 163.4M USD · Free cash flow 705.1M USD
  2. Fiscal year 2018: Operating cash flow 1.0B USD · Capital expenditure 112.0M USD · Free cash flow 925.0M USD
  3. Fiscal year 2019: Operating cash flow 1.1B USD · Capital expenditure 131.2M USD · Free cash flow 924.4M USD
  4. Fiscal year 2020: Operating cash flow 1.0B USD · Capital expenditure 214.4M USD · Free cash flow 821.3M USD
  5. Fiscal year 2021: Operating cash flow 1.5B USD · Capital expenditure 116.0M USD · Free cash flow 1.4B USD
  6. Fiscal year 2022: Operating cash flow 2.0B USD · Capital expenditure 192.8M USD · Free cash flow 1.8B USD
  7. Fiscal year 2023: Operating cash flow 2.8B USD · Capital expenditure 146.3M USD · Free cash flow 2.6B USD
  8. Fiscal year 2024: Operating cash flow 3.3B USD · Capital expenditure 156.8M USD · Free cash flow 3.1B USD
  9. Fiscal year 2025: Operating cash flow 3.7B USD · Capital expenditure 246.2M USD · Free cash flow 3.5B USD
  10. Fiscal year 2026: Operating cash flow 4.6B USD · Capital expenditure 440.0M USD · Free cash flow 4.1B USD

Share count

The share count rose in 5 years by 32.1% – more new shares were issued than repurchased (dilution).

Diluted share count
  1. Fiscal year 2017: Diluted share count not available
  2. Fiscal year 2018: Diluted share count not available
  3. Fiscal year 2019: Diluted share count 567.0M
  4. Fiscal year 2020: Diluted share count 581.4M
  5. Fiscal year 2021: Diluted share count 578.4M
  6. Fiscal year 2022: Diluted share count 591.0M
  7. Fiscal year 2023: Diluted share count 684.6M
  8. Fiscal year 2024: Diluted share count 708.0M
  9. Fiscal year 2025: Diluted share count 709.3M
  10. Fiscal year 2026: Diluted share count 764.0M

From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.

Dividends and share repurchases

How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.

Dividend per share
none pays no dividend
To shareholders (5 years)
2.7B USD 100% through repurchases
Share count over 5 years
+32.1% more shares – dilution

What goes back to shareholders

Over 5 years, 2.7B USD went back to shareholders, 100% of it through share repurchases. That is 18% of the free cash flow of those years.

Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USD
  1. Fiscal year 2017: Dividends paid not available · Share repurchases 411.0M USD · New shares issued (including employee plans) not available · Free cash flow 705.1M USD
  2. Fiscal year 2018: Dividends paid not available · Share repurchases 259.1M USD · New shares issued (including employee plans) not available · Free cash flow 925.0M USD
  3. Fiscal year 2019: Dividends paid not available · Share repurchases 330.0M USD · New shares issued (including employee plans) not available · Free cash flow 924.4M USD
  4. Fiscal year 2020: Dividends paid not available · Share repurchases 1.2B USD · New shares issued (including employee plans) not available · Free cash flow 821.3M USD
  5. Fiscal year 2021: Dividends paid not available · Share repurchases 1.2B USD · New shares issued (including employee plans) not available · Free cash flow 1.4B USD
  6. Fiscal year 2022: Dividends paid not available · Share repurchases 892.3M USD · New shares issued (including employee plans) not available · Free cash flow 1.8B USD
  7. Fiscal year 2023: Dividends paid not available · Share repurchases 272.7M USD · New shares issued (including employee plans) not available · Free cash flow 2.6B USD
  8. Fiscal year 2024: Dividends paid not available · Share repurchases 566.7M USD · New shares issued (including employee plans) not available · Free cash flow 3.1B USD
  9. Fiscal year 2025: Dividends paid not available · Share repurchases 0.0 USD · New shares issued (including employee plans) not available · Free cash flow 3.5B USD
  10. Fiscal year 2026: Dividends paid not available · Share repurchases 1.0B USD · New shares issued (including employee plans) not available · Free cash flow 4.1B USD

Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.

Valuation over time

Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users.

Sector comparison

Palo Alto Networks next to 8 stocks of the sector Technology we cover that are closest in revenue. Click a column header to sort the table.

Sector comparison PANW, sector Technology; last row: sector median
Symbol Revenue (FY) Growth 5 yrsGross marginOp. marginNet marginROEEquity ratioFCF marginPiotroski
GLW Corning Inc. 15.6B USD +6.7%36.0%14.6%10.2%13.5%38.1%9.0%7/9
KLAC KLA Corporation 13.6B USD +14.4%61.3%–35.6%76.1%35.4%27.7%8/9
NOW ServiceNow 13.3B USD +24.1%77.5%13.7%13.2%13.5%49.8%34.5%6/9
WDC Western Digital 12.9B USD −5.3%48.9%34.5%72.9%106.3%63.9%27.2%7/9
STX Seagate Technology 12.2B USD +2.7%45.6%33.6%26.1%146.9%21.7%25.5%8/9
MSI Motorola Solutions 11.7B USD +9.5%51.7%25.6%18.4%89.4%12.4%22.0%6/9
PANW Palo Alto Networks this stock 11.5B USD +22.0%70.4%6.1%2.7%1.1%56.7%35.8%4/9
ADI Analog Devices 11.0B USD +14.5%61.5%26.6%20.6%6.7%70.5%38.8%8/9
ANET Arista Networks 9.0B USD +31.2%64.1%42.8%39.0%28.4%63.6%47.2%–
Median of the sector 63 symbols 11.0B USD +14.5%56.1%14.2%12.5%13.5%51.6%19.0%6/9

Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).

Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.

Key figures with traffic lights

Each light follows a simple, disclosed rule. The comparison is with the sector median of all 97 symbols in the Technology sector on our list (current members of the S&P 500 and other lists).

Revenue growth

Light green: above sector

+22.0% per year, last 5 years

Sector Technology: median +13.5% (88 symbols)

What does this mean? Revenue: over 5 years it grew by 22.0% per year on average – at least as fast as the median company in the sector (+13.5%).

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net income (total)

Light gray: not computable

– per year, last 5 years

Sector Technology: median +13.3% (62 symbols)

per share: not computable (loss in the first or last year)

What does this mean? There was a loss in the first or last year. An annual growth rate cannot be calculated meaningfully then.

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net margin

Light yellow: below sector

2.7% last fiscal year

Sector Technology: median 12.5% (97 symbols)

What does this mean? Of every 100 USD in revenue, 2.67 USD remained as profit – less than the median company in the sector (12.5%). Five years ago the margin was −11.7%.

Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.

Debt / equity

Light green: lower than sector

0.06 latest balance sheet

Sector Technology: median 0.45 (79 symbols)

What does this mean? For every 1 USD of equity there is 0.06 USD of financial debt – no more than the median company in the sector (0.45). More debt amplifies good and bad years alike.

Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.

Payout ratio

Light gray: none found

– Dividend / earnings per share

Sector Technology: median 30% (36 symbols)

What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.

Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.

Profitable years

Light red: 6 loss years

4 of 10 fiscal years with a profit

What does this mean? In 4 of the last 10 fiscal years the bottom line showed a profit. 6 years ended with a loss.

Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).

Last fiscal year and 13F

Information, not a trading signal · Source: SEC EDGAR
Revenue (FY)
11.5B USD
Revenue vs. prior year
+24.5%
Net income (FY)
307.0M USD
Net income vs. prior year
−72.9%
EPS (FY)
0.40 USD
13F funds with a position
1 of 9
Funds vs. prior quarter
+1
Shares held vs. prior quarter
–
Fiscal year to Jul 31, 2026 · 10-K filed Sep 10, 2026 · Balance sheet Jul 31, 2026 (filed Sep 10, 2026) · Price-based figures (P/E, P/S, dividend yield, market cap) only when logged in. · Values as first reported; debt = reported financial debt (US GAAP: long-term). 13F: reporting date Jun 30, 2026, 9 tracked funds have filed (latest Aug 14, 2026), filed with up to 45 days of delay. Stock positions only; comparison with Mar 31, 2026 only across funds that filed for both quarters.
All figures as a table
Fiscal years (amounts in USD, per share in USD)
YearEndRevenueNet income MarginEarnings per shareDividend per sharePayout
2026Jul 31, 2026 11.5B307.0M 2.7% 0.40 – –
2025Jul 31, 2025 9.2B1.1B 12.3% 1.60 – –
2024Jul 31, 2024 8.0B2.6B 32.1% 3.64 – –
2023Jul 31, 2023 6.9B439.7M 6.4% 0.64 – –
2022Jul 31, 2022 5.5B−267.0M −4.9% −0.45 – –
2021Jul 31, 2021 4.3B−498.9M −11.7% −0.86 – –
2020Jul 31, 2020 3.4B−267.0M −7.8% −0.46 – –
2019Jul 31, 2019 2.9B−81.9M −2.8% −0.15 – –
2018Jul 31, 2018 2.3B−147.9M −6.5% – – –
2017Jul 31, 2017 1.8B−216.6M −12.3% – – –
Quarters (amounts in USD, per share in USD)
QuarterEndRevenueNet income MarginEarnings per shareDividend per sharePayout
Q3/26*Jul 31, 2026 3.4B−282.0M −8.3% – – –
Q2/26Apr 30, 2026 3.0B−177.0M −5.9% −0.22 – –
Q1/26Jan 31, 2026 2.6B432.0M 16.7% 0.61 – –
Q4/25Oct 31, 2025 2.5B334.0M 13.5% 0.47 – –
Q3/25*Jul 31, 2025 2.5B253.8M 10.0% – – –
Q2/25Apr 30, 2025 2.3B262.1M 11.5% 0.37 – –
Q1/25Jan 31, 2025 2.3B267.3M 11.8% 0.38 – –
Q4/24Oct 31, 2024 2.1B350.7M 16.4% 0.50 – –
Q3/24*Jul 31, 2024 2.2B357.7M 16.3% – – –
Q2/24Apr 30, 2024 2.0B278.8M 14.0% 0.40 – –
Q1/24Jan 31, 2024 2.0B1.7B 88.4% 2.45 – –
Q4/23Oct 31, 2023 1.9B194.2M 10.3% 0.28 – –

* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.

How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year over 5 years (otherwise 3 years). Per-share values adjusted for stock split 3:1 (between Sep 6, 2022 and May 24, 2023), 2:1 (between Nov 21, 2024 and Feb 14, 2025). Quarters are labeled by the calendar quarter in which they end.

Insiders

All insider transactions
Insider purchases and sales on the market over 3, 6 and 12 months
PeriodPurchasesSalesNet
3 months $00 people $20.8M5 people −$20.8M
6 months $00 people $48.0M7 people −$48.0M
12 months $10.0M1 person $133.4M8 people −$123.4M

Latest transactions

  • Oct 9, 2026 Bawa Aparna Director Open-market sale 80 shares · $33.4K · SEC
  • Oct 9, 2026 Bawa Aparna Director Open-market sale 170 shares · $69.7K · SEC
  • Oct 1, 2026 Paul Josh D. Officer Open-market sale · 10b5-1 plan 400 shares · $158.3K · SEC
  • Sep 24, 2026 Golechha Dipak Chief financial officer (CFO) Open-market sale · 10b5-1 plan 100 shares · $39.6K · SEC
  • Sep 24, 2026 Golechha Dipak Chief financial officer (CFO) Open-market sale · 10b5-1 plan 900 shares · $355.5K · SEC
  • Sep 24, 2026 Golechha Dipak Chief financial officer (CFO) Open-market sale · 10b5-1 plan 2,200 shares · $865.9K · SEC

Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.

Trend score +65

Price vs. EMA 50+15
Price vs. EMA 200+15
EMA 50 vs. EMA 200+20
ADX (trend strength)+0
Highs and lows+0
Relative strength+15

Volatility and trend strength

ADX 14 (trend strength)17.4
Rel. strength 60 d+14.6%

ATR and moving averages as price values only when logged in.

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