Palo Alto Networks Inc (PANW)
Information Technology · Systems Software · US stock · S&P 500 component
$342.00
▼ -28.27 (7.63%)
Fair valueData under review
$16
$8fair band $10–$23$24
Day's range
$339.55 – $375.71
52-week range
$139.57 – $432.33
Red flags⚠ Heavy dilution
About Palo Alto Networks Inc
Palo Alto Networks is a cybersecurity company known for its network firewalls. Its platforms cover network security, cloud security and security operations, using tools that detect and respond to threats across a customer's systems. Customers include large enterprises, service providers, government bodies and smaller organisations. The company supplies both hardware firewalls and software and cloud services that customers can combine.
Subscriptions and support for its security platforms account for most of the revenue, with a smaller share from hardware products. Revenue was $11.5 billion over the last twelve months and has grown at 18.5% a year across the last three years. The operating margin is 6.1%, and the business earns 2% on the capital invested in it. No dividend is paid. A net debt measure is not available on the site for this company. On the site's X-Ray Score it receives 28 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $139.57 – $432.33Volume 8,762,600Daily, split-adjusted
Vitals
Market cap$261.3B
52-week range$139.57 – $432.33
Volume (last day)8,762,600
P/E (TTM)831.3
EBIT / EV yield0.3%
Free-cash-flow yield1.6%
Dividend yieldNo dividend
Revenue (TTM)$11.5B
Net income (TTM)$307M
Operating margin6.1%
Return on capital1.9%
Debt incl. leasesData missing
Cash & securities$3.1B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$16model spread $15 – $17
Data under review
+0.0% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is High, so the safety margin is 40%.
Multiples use through-the-cycle earnings (0.42x of the last twelve months)
Peak-cycle earnings: the current operating margin is more than 1.5x its 7-year average, so the fair value range is widened
Price $342
Undervalued < $10Fair $10 – $23Overvalued > $23
10-year DCF (market-scaled)
$24
Peer multiples
$14
Earnings power floor (not blended)
$9
Fundamentals-adjusted multiple
$11
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Read the lenses below
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Information Technology peers. Open a lens to see the numbers behind it.
Valuation
Weak
8/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield0.3%
Free-cash-flow yield1.6%
Fair value vs price0.0×
Growth
Fair
60/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)18.5%
EPS growth (3y)-14.5%
Growth consistency100%
Profitability
Weak
25/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital1.9%
Operating margin6.1%
Gross profitability16.7%
Financial health
Weak
27/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score3 / 9
Interest coverNo interest cost
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
+15.3%
Apr '25
+15.9%
Jul '25
+15.7%
Oct '25
+14.9%
Jan '26
+31.1%
Apr '26
+34.5%
Jul '26
Revenue against the same quarter a year earlier. Latest quarter revenue $3.4B.
Compare with peers
MSFT Microsoft Corp60 GEN Gen Digital Inc.60 FTNT Fortinet, Inc.57 NOW ServiceNow, Inc.39Other Systems Software companies by X-Ray Score.
Fundamentals checklist
● 4 Good · ● 1 Average · ● 10 BadCash quality
Earnings backed by cashGood
Free-cash-flow yieldBad
Risk models
Altman Z''Bad
Piotroski F-ScoreBad
Growth
EPS growth (3y)Bad
Free-cash-flow growth (3y)Average
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioBad
Interest coverGood
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Return on invested capitalBad
Operating marginBad
Gross profitabilityBad
Each check is graded against the company's sector, not a fixed number. Checklist score 31/100.
Financials
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Revenue | $5.5B | $6.9B | $8.0B | $9.2B | $11.5B |
| Operating income | −$189M | $387M | $684M | $1.2B | $695M |
| Net income | −$267M | $440M | $2.6B | $1.1B | $307M |
| Operating cash flow | $2.0B | $2.8B | $3.3B | $3.7B | $4.6B |
| Operating margin | -3.4% | 5.6% | 8.5% | 13.5% | 6.1% |
| Free cash flow | $1.8B | $2.6B | $3.1B | $3.5B | $4.1B |
| Diluted EPS | $-0.90 | $0.64 | $3.64 | $1.60 | $0.40 |
Fiscal years, from SEC filings.
Technical summary
Daily
Neutral
7 bullish · 1 neutral · 8 bearish
Weekly
Bullish
8 bullish · 1 neutral · 3 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 393.8 | Bearish |
| EMA 10 | 382.8 | Bearish |
| SMA 20 | 391.0 | Bearish |
| EMA 20 | 384.4 | Bearish |
| SMA 50 | 373.3 | Bearish |
| EMA 50 | 369.8 | Bearish |
| SMA 100 | 343.5 | Bearish |
| EMA 100 | 337.9 | Bullish |
| SMA 200 | 260.7 | Bullish |
| EMA 200 | 291.6 | Bullish |
Oscillators (daily)
| RSI (14) | 36.97 | Neutral |
| MACD (12, 26) | 1.98 | Bullish |
| Momentum (12) | -13.92 | Bearish |
| Stochastic %K (14) | 2.64 | Bullish |
| Williams %R (14) | -97.36 | Bullish |
| CCI (20) | -177.1 | Bullish |
Pivot points (classic, last session)
S3 293.0 | S2 316.3 | S1 329.1 | Pivot 352.4 | R1 365.3 | R2 388.6 | R3 401.5 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
PANW SEC filings
10 Sep 2026
10-KSEC EDGAR
Annual report
1 Sep 2026
8-KSEC EDGAR
Results of operations
21 Aug 2026
8-KSEC EDGAR
Director or officer change
3 Jun 2026
10-QSEC EDGAR
Quarterly report
2 Jun 2026
8-KSEC EDGAR
Results of operations
13 Apr 2026
8-KSEC EDGAR
Entered a material agreement
23 Mar 2026
8-KSEC EDGAR
Other events
11 Mar 2026
8-KSEC EDGAR
Other events
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.