PANW · XBRL financial data

Palo Alto Networks financial statements, every quarter

The same tables from 12 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal quarters (PANW's year ends in late July)

In millions of dollars	Q1 FY24Oct 31, 2023	Q2 FY24Jan 31, 2024	Q3 FY24Apr 30, 2024	Q4 FY24Jul 31, 2024	Q1 FY25Oct 31, 2024	Q2 FY25Jan 31, 2025	Q3 FY25Apr 30, 2025	Q4 FY25Jul 31, 2025	Q1 FY26Oct 31, 2025	Q2 FY26Jan 31, 2026	Q3 FY26Apr 30, 2026	Q4 FY26Jul 31, 2026
Revenue from contracts with customers	1,878	1,975	1,985	2,190*	2,139	2,257	2,289	2,536*	2,474	2,594	3,002	3,410*
Cost of goods and services sold	473	499	514	574*	554	599	619	679*	638	685	974	1,106*
Gross profit	1,405	1,476	1,471	1,616*	1,585	1,658	1,670	1,857*	1,836	1,909	2,028	2,304*
Research and development	410	448	457	495*	480	506	495	504*	528	511	734	779*
General and administrative	120	302	119	140*	98	154	164	27*	179	178	316	226*
Total operating expenses	1,190	1,422	1,295	1,377*	1,298	1,418	1,451	1,360*	1,527	1,512	2,211	2,132*
Operating income (loss)	215	54	177	238*	287	240	219	497*	309	397	(183)	172*
Interest expense	3	3	2	0*	1	1	1	0*	0	0	0	0*
Other income (expense)	(6)	6	(6)	1*	5	(4)	8	16*	9	59	8	(12)*
Income tax expense (benefit)	88	(1,611)	(28)	(39)*	18	58	48	338*	78	117	21	13*
Net income (loss)	194	1,747	279	358*	351	267	262	254*	334	432	(177)	(282)*
Earnings per share, basic‡ USD per share	0.32	2.74	0.43	0.55*	0.54	0.41	0.39	0.38*	0.49	0.61	(0.22)	—
Earnings per share, diluted‡ USD per share	0.28	2.45	0.40	0.51*	0.50	0.38	0.37	0.36*	0.47	0.61	(0.22)	—
Weighted average shares, basic‡ millions of shares	620	639	646	649*	654	659	665	672*	679	704	801	814*
Weighted average shares, diluted‡ millions of shares	700	715	709	708*	709	709	707	712*	709	711	801	836*

‡ Per-share figures and share counts are adjusted for the 2-for-1 stock split (December 2024); filings made before it reported them unadjusted.

Balance sheet

CSV

Fiscal quarters (PANW's year ends in late July)

In millions of dollars	Q1 FY24Oct 31, 2023	Q2 FY24Jan 31, 2024	Q3 FY24Apr 30, 2024	Q4 FY24Jul 31, 2024	Q1 FY25Oct 31, 2024	Q2 FY25Jan 31, 2025	Q3 FY25Apr 30, 2025	Q4 FY25Jul 31, 2025	Q1 FY26Oct 31, 2025	Q2 FY26Jan 31, 2026	Q3 FY26Apr 30, 2026	Q4 FY26Jul 31, 2026
Cash and cash equivalents	2,491	1,783	1,374	1,535	2,283	2,226	2,383	2,269	3,066	4,158	2,364	2,514
Short-term investments	1,402	1,589	1,517	1,044	1,108	1,007	917	635	1,144	378	747	557
Accounts receivable	1,413	1,896	1,715	2,619	1,133	1,496	1,950	2,965	1,343	2,116	2,852	3,629
Inventory	—	—	—	116	—	—	—	113	—	—	—	117
Prepaid and other current assets	396	406	404	557	546	480	524	521	605	621	705	807
Total current assets	6,478	6,447	5,919	6,850	6,243	6,340	6,899	7,523	7,310	8,369	7,713	8,643
Property and equipment, net	353	352	350	361	361	358	367	387	394	485	506	523
Right-of-use asset	274	356	370	386	389	373	357	347	353	368	678	700
Goodwill	2,927	3,373	3,373	3,350	4,051	4,051	4,051	4,567	4,567	6,931	21,902	22,010
Total assets	14,809	18,292	17,931	19,991	20,375	20,952	22,003	23,576	23,536	24,979	46,266	48,460
Accounts payable	132	179	109	116	212	149	235	232	223	262	293	290
Accrued liabilities	372	394	413	507	683	778	825	846	665	937	760	838
Total current liabilities	7,513	7,766	7,085	7,683	7,403	7,552	7,706	7,988	7,418	8,009	9,006	9,923
Lease liability, non-current	276	363	370	381	380	363	346	338	346	372	719	726
Total liabilities	12,638	13,935	13,463	14,821	14,463	14,576	14,772	15,752	14,871	15,586	18,598	20,968
Retained earnings (accumulated deficit)	(1,033)	714	993	1,350	1,701	1,968	2,230	2,484	2,818	3,250	3,073	2,791
Total stockholders' equity	2,171	4,357	4,468	5,170	5,912	6,375	7,231	7,824	8,665	9,393	27,668	27,492
Total liabilities and equity	14,809	18,292	17,931	19,991	20,375	20,952	22,003	23,576	23,536	24,979	46,266	48,460
Common shares outstanding (cover page)‡ millions of shares	631	646	648	651	656	662	667	669	≈697	≈816	≈815	≈818

≈ Rounded on cover: the filing states this count rounded, and it sits more than 1% off the weighted shares for the period.
‡ Per-share figures and share counts are adjusted for the 2-for-1 stock split (December 2024); filings made before it reported them unadjusted.

Cash flows

CSV

Fiscal quarters (PANW's year ends in late July)

In millions of dollars	Q1 FY24Oct 31, 2023	Q2 FY24Jan 31, 2024	Q3 FY24Apr 30, 2024	Q4 FY24Jul 31, 2024	Q1 FY25Oct 31, 2024	Q2 FY25Jan 31, 2025	Q3 FY25Apr 30, 2025	Q4 FY25Jul 31, 2025	Q1 FY26Oct 31, 2025	Q2 FY26Jan 31, 2026	Q3 FY26Apr 30, 2026	Q4 FY26Jul 31, 2026
Net income (loss)	194	1,747	279	358*	351	267	262	254*	334	432	(177)	(282)*
Stock-based compensation	271	272*	264*	269*	294	321*	326*	354*	370	301*	643*	460*
Depreciation and amortization	64	69*	74*	76*	84	88*	88*	84*	89	91*	334*	341*
Net cash from operating activities	1,526	690*	529*	513*	1,510	557*	629*	1,021*	1,771	554*	871*	1,357*
Net cash from investing activities	(129)	(1,326)*	113*	(169)*	(544)	(381)*	(518)*	(763)*	(983)	651*	(1,766)*	(1,006)*
Share repurchases	67	0	500*	0*	0	0*	0*	0*	—	—	—	0*
Net cash from financing activities	(42)	(73)*	(1,049)*	(179)*	(220)	(232)*	47*	(374)*	8	(114)*	(899)*	(197)*
Net change in cash	1,355	(708)*	(407)*	165*	746	(56)*	158*	(116)*	796	1,091*	(1,792)*	149*

Compare with peers

SIC 3577 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 3577 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
* marks a quarter worked out from the filing totals: for a 10-K, the year less the first three quarters; for a 10-Q, the year-to-date total less the earlier one.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Quarter
Palo Alto Networks	2,514	3,410*	1,357*	818.0M	Q4 FY26 10-KJul 31, 2026
Arista Networks	2,290	3,036	1,083*	1.3B	Q2 FY26 10-QJun 30, 2026
Seagate Technology Holdings	1,258	4,233	1,690	229.6M	Q1 FY27 10-QOct 2, 2026
Fortinet	3,751	2,078	946*	734.7M	Q3 FY26 10-QSep 30, 2026
International Business Machines	9,233	17,103	4,025*	945.1M	Q3 FY26 10-QSep 30, 2026
Cisco Systems	7,218	17,252*	5,386*	3.9B	Q4 FY26 10-KJul 25, 2026
Western Digital	1,314	4,381	1,604	374.3M	Q1 FY27 10-QOct 2, 2026
Sandisk	5,136	11,031	6,363	142.3M	Q1 FY27 10-QOct 2, 2026
Dell Technologies	11,569	46,971	2,225*	not reported	Q2 FY27 10-QJul 31, 2026

Not investment advice. Not affiliated with the U.S. SEC.