Income StatementBalance SheetCash FlowSegments
Palo Alto Networks, Inc. logo

Palo Alto Networks, Inc. Balance Sheet Statement

Assets, liabilities, and shareholders' equity

Palo Alto Networks, Inc. holds $25.0B in total assets. Shareholders' equity is $9.4B against $372.0M in total debt. Cash and equivalents total $4.2B. The current ratio is 1.04 and debt-to-equity is 0.040. Based on the Q1 2026 filing.

Total Assets$25.0BTotal Stockholders Equity$9.4BLong Term Debt$3.7BCash And Equivalents$4.2BTotal Current Assets$8.4BTotal Current Liabilities$8.0B
Latest FilingQ1 2026
Report Date2026-02-18
Market Cap$200.76B
P/E Ratio156.61
ROE16.26%

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts payable$211.6M$149.3M$234.8M$232.0M$223.0M$262.0M
Accrued Contingent Liabilities$141.4M$142.8M$144.1M$146.0M$147.0M$149.0M
Accrued expenses$683.1M$777.6M$824.6M$608.0M$665.0M$562.0M
Accrued Manufacturing Costs$354.5M$491.6M$506.2M$608.0M$398.0M$562.0M
Accrued Progress Collections and Price Adjustments$5.6B$5.7B$5.8B$6.5B$6.1B$6.2B
Other Commercial Liabilities$683.1M$777.6M$824.6M$846.0M$665.0M$937.0M
Contract liabilities$5.6B$5.7B$5.8B$6.5B$6.1B$6.2B
Accrued Liabilities, Current$683.1M$777.6M$824.6M$846.0M$665.0M$937.0M
Compensation and benefits$354.5M$491.6M$506.2M$608.0M$398.0M$562.0M
Deferred revenue$5.5B$5.6B$5.8B$6.3B$6.1B$6.2B
Total current liabilities$7.4B$7.6B$7.7B$8.0B$7.4B$8.0B

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts receivable, net$1.1B$1.5B$2.0B$3.0B$1.3B$2.1B
Available-for-Sale Debt Securities - Amortized Cost$5.5B$5.8B$6.6B—$8.1B$5.5B
Available-for-Sale Debt Securities - Amortized Cost (Due Within One Year)$1.4B$1.3B$1.5B—$2.2B$2.2B
Available-for-Sale Debt Securities - Amortized Cost (<1 Year)$1.4B$1.3B$1.5B—$2.2B$2.2B
Available-for-Sale Debt Securities - Fair Value (Maturing Within 1 Year)$1.4B$1.3B$1.5B—$2.2B$2.2B
Allowance for Credit Losses - Receivable (Current)$7.5M$5.8M$5.0M$5.0M$6.0M$7.0M
Allowance for Doubtful Accounts$8.6M$8.5M$10.6M$10.0M$14.0M$13.0M
Allowance for Doubtful Accounts Receivable (Current)$8.6M$8.5M$10.6M$10.0M$14.0M$13.0M
Capitalized Contract Costs, Current$367.6M$376.1M$387.1M$419.0M$415.0M$424.0M
Cash and cash equivalents$2.3B$2.2B$2.4B$2.3B$3.1B$4.2B
Deferred costs$367.6M$376.1M$387.1M$419.0M$415.0M$424.0M
Derivative Assets - Not Designated as Hedging Instruments———$58.0M—$80.0M
Equipment Installment Plan Receivables, Gross$1.9B$1.9B$1.8B$1.7B$1.6B$1.6B
Finance Receivables (Current)$805.1M$754.9M$737.3M$715.0M$737.0M$672.0M
Allowance for Credit Losses on Financing Receivables$7.9M$9.6M$8.5M$8.0M$9.0M$9.0M
Financing Receivables$1.2B$1.3B$1.2B$1.1B$927.0M$937.0M
Prepaid expenses and other current assets$546.1M$480.4M$524.4M$520.0M$605.0M$621.0M
Restricted cash$10.0M$11.0M$11.6M—$9.0M$4.0M
Short-term investments$1.1B$1.0B$916.8M$635.0M$1.1B$378.0M
Total current assets$6.2B$6.3B$6.9B$7.5B$7.3B$8.4B

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accumulated other comprehensive income (loss)-$4.0M-$13.9M$48.0M$48.0M$67.0M$46.0M
Common stock1B4.4B5B2B5.8B2B
Common Stock Par Value Per Share$0.00$0.00$0.00$0.00$0.00$0.00
Common Stock Shares Issued327.7M660.4M665.9M668M692M703M
Convertible Preferred Stock Authorized Shares100M100M100M100M100M100M
Convertible Preferred Stock Issued Shares000000
Convertible Preferred Stock Outstanding Shares000000
Common stock$4.2B$4.4B$5.0B$5.3B$5.8B$6.1B
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding$0.0$0.0$0.0$0.0$0.0$0.0
Preferred stock$0.0$0.0$0.0$0.0$0.0$0.0
Preferred Stock Par Value Per Share$0.00$0.00$0.00$0.00$0.00$0.00
Retained earnings$1.7B$2.0B$2.2B$2.5B$2.8B$3.3B
Share-Based Payment - Unrecognized Cost of Nonvested Awards$2.2B$2.5B$2.4B—$2.2B$2.9B
Share Repurchase Authorization Limit$1.0B$1.0B$1.0B—$1.0B$1.0B
Share Repurchase Program - Amount Remaining$1.0B$1.0B$1.0B—$1.0B$1.0B
Shares Reserved for Future Issuance Under Stock Plans—2.7M2.7M—3M3M
Total liabilities and stockholders' equity$20.4B$21.0B$22.0B$23.6B$23.5B$25.0B
Total stockholders' equity$5.9B$6.4B$7.2B$7.8B$8.7B$9.4B

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net loans$911.6M$859.7M$833.7M$806.0M$823.0M$754.0M
Deferred tax assets$250.8M$116.1M$26.2M$89.0M$96.0M$75.0M
Deferred Tax Assets and Other Non-Current Assets$380.2M$364.7M$396.9M$422.0M$390.0M$427.0M
Equipment Installment Plan Receivables (Non-Current), Net$1.1B$1.2B$1.1B$1.0B$855.0M$870.0M
Equity method investments$4.1B$4.6B$5.2B$5.6B$6.0B$3.4B
Available-for-sale securities$5.6B$5.9B$6.6B—$8.2B$129.0M
Finite-Lived Intangible Assets - Expected Amortization Expense (Year One)$62.8M$63.9M$64.2M—$62.0M$156.0M
Goodwill$4.1B$4.1B$4.1B$4.6B$4.6B$6.9B
Intangible Assets Gross (Excluding Goodwill)$1.5B$1.5B$1.5B$1.2B$1.1B$1.7B
Intangible assets, net$809.6M$771.4M$730.2M$763.0M$723.0M$1.2B
Net Investment in Lease$389.0M$372.9M$357.3M$347.0M$353.0M$368.0M
Deferred costs$531.9M$523.4M$528.2M$586.0M$546.0M$526.0M
Deferred tax assets$2.4B$2.4B$2.5B$2.4B$2.4B$2.4B
Intangible assets &#8212; net$809.6M$771.4M$730.2M—$723.0M$1.2B
Other intangible assets&#8212;net$809.6M$771.4M$730.2M$763.0M$723.0M$1.2B
Investments$4.1B$4.6B$5.2B$5.6B$6.0B$3.4B
Long-term financing receivables (net of allowances of $27 in 2026 and $34 in 2025)$1.1B$1.2B$1.1B$1.0B$855.0M$870.0M
Operating lease right-of-use assets$389.0M$372.9M$357.3M$347.0M$353.0M$368.0M
Other non-current assets$380.2M$364.7M$396.9M$422.0M$390.0M$427.0M
Short-term investment securities (includes restricted investments of consolidated variable interest entities: 2026, $85; 2025, $84)$1.1B$1.0B$916.8M$635.0M$1.1B$378.0M
Operating lease right-of-use assets$389.0M$372.9M$357.3M$347.0M$353.0M$368.0M
Operating Lease Right-of-Use Assets in Other Assets$389.0M$372.9M$357.3M$347.0M$353.0M$368.0M
Other non-current assets$380.2M$364.7M$396.9M$3.0M$390.0M$0.0
Accumulated depreciation$681.5M$725.8M$769.0M$407.0M$426.0M$464.0M
Property and equipment, net$361.0M$358.2M$367.0M$387.0M$394.0M$485.0M
Software and Technology Licenses, Net$380.2M$364.7M$396.9M$422.0M$390.0M$427.0M
Total assets$20.4B$21.0B$22.0B$23.6B$23.5B$25.0B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Nonperforming Loans and Leases Percentage$1.9B$1.9B$1.8B$1.7B$1.6B$1.6B
Fair Value Measurement Disclosure$655.0M$665.0M$669.2M$514.0M$380.0M$369.0M
Accrued Liabilities Fair Value Disclosure———$280.0M—$161.0M
Allowance for doubtful accounts$8.6M$8.5M$10.6M$10.0M$14.0M$13.0M
Short-term financing receivables held for investment, allowances$7.5M$5.8M$5.0M$5.0M$6.0M$7.0M
Long-term financing receivables, allowances$7.9M$9.6M$8.5M$8.0M$9.0M$9.0M
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10$218.2M$207.0M$265.3M—$290.0M$111.0M
1&#160;Year&#160;or&#160;Less$1.4B$1.3B$1.5B—$2.2B$2.2B
After 10 Years$110.2M$115.1M$158.8M—$183.0M$133.0M
Common stock, par value (in dollars per share)$0.0$0.0$0.0$0.0$0.0$0.0
Common stock, shares authorized (in shares)$1.0B$2.0B$2.0B$2.0B$2.0B$2.0B
Common stock, shares issued (in shares)$327.7M$660.4M$665.9M$668.0M$692.0M$703.0M
Common Stock, Shares, Outstanding$327.7M$660.4M$665.9M$668.0M$692.0M$703.0M
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, after Allowance for Credit Loss$5.5B$5.8B$6.6B—$8.1B$5.5B
Estimated Fair Value$5.6B$5.9B$6.6B—$8.2B$5.6B
Due between three and five years$1.9B$2.5B$2.9B—$3.2B$1.9B
Due between three and five years$1.9B$2.5B$2.9B—$3.1B$1.9B
Due between one and three years$1.8B$1.8B$1.8B—$2.3B$1.2B
Due between one and three years$1.9B$1.8B$1.8B—$2.3B$1.2B
Deferred income taxes$250.8M$116.1M$26.2M$89.0M$96.0M$75.0M
Unrecognized compensation cost related to non-vested awards$2.2B$2.5B$2.4B—$2.2B$2.9B
2021———$18.0M——
Year one$1.2B$1.2B$1.1B$435.0M$489.0M$429.0M
Year two$562.7M$495.0M$438.1M$962.0M$862.0M$782.0M
2026$51.2M$201.4M$288.9M—$28.0M$165.0M
2022$37.1M$31.9M$22.2M$9.0M$5.0M$5.0M
2023$13.3M$9.5M$9.5M$306.0M$223.0M$177.0M
Financing Receivable, Unamortized Loan Cost (Fee), Current$99.0M$99.0M$91.4M$86.0M$80.0M$75.0M
Financing Receivable, Unearned Income Before Allowance For Credit Loss, Noncurrent$91.4M$89.6M$76.9M$69.0M$63.0M$58.0M
Finite-Lived Intangible Assets, Accumulated Amortization$681.5M$725.8M$769.0M$407.0M$426.0M$464.0M
2028$109.7M$110.7M$111.0M—$104.0M$199.0M
2030$62.8M$63.9M$64.2M—$62.0M$156.0M
Remainder of 2026$124.5M$80.6M$37.5M—$116.0M$130.0M
2027$140.6M$141.6M$141.9M—$125.0M$224.0M
2029$88.8M$89.9M$90.1M—$78.0M$173.0M
2031 and Thereafter—————$367.0M
Indefinite- lived intangible impairment$1.5B$1.5B$1.5B$1.2B$1.1B$1.7B
Loss Contingency Accrual$141.4M$142.8M$144.1M$146.0M$147.0M$149.0M
Loss Contingency Estimate Of Possible Loss$114.0M—————
Notes And Loans Receivable Gross Current$911.6M$859.7M$833.7M$806.0M$823.0M$754.0M
Other financial assets———$3.0M—$0.0
Other liabilities———$238.0M—$212.0M
Preferred Stock, Par or Stated Value Per Share$0.0$0.0$0.0$0.0$0.0$0.0
Preferred Stock, Shares Authorized$100.0M$100.0M$100.0M$100.0M$100.0M$100.0M
Preferred Stock, Shares Issued$0.0$0.0$0.0$0.0$0.0$0.0
Preferred Stock, Shares Outstanding$0.0$0.0$0.0$0.0$0.0$0.0
Prepaid Expensesand Other Current Assets Fair Value Disclosure———$58.0M—$80.0M
Remaining performance obligations related to customer contracts that are unsatisfied or partially unsatisfied$12.6B$13.0B$13.5B—$15.5B$16.0B
Incentive stock program, shares reserved for future grants (in shares)—$2.7M$2.7M—$3.0M$3.0M
Share Repurchase Program, Authorized, Amount$4.1B$4.1B$4.1B—$4.1B$4.1B
Share Repurchase Program, Remaining Authorized, Amount$1.0B$1.0B$1.0B—$1.0B$1.0B
Unrecorded Unconditional Purchase Obligation, to be Paid, Year Two$560.5M$571.4M$576.0M—$1.0B$1.1B
Unrecorded Unconditional Purchase Obligation$4.5B$4.3B$4.2B—$6.7B$6.8B
Purchase commitments, Due in 2027$533.4M$426.6M$376.7M—$721.0M$628.0M
2031 and Thereafter————$2.5B$2.5B
Unrecorded Unconditional Purchase Obligation, to be Paid, Remainder of Fiscal Year$263.7M$183.5M$162.7M—$311.0M$284.0M
Remainder of Fiscal Year 2024$124.5M$80.6M$37.5M—$116.0M$130.0M
Remainder of Fiscal Year 2025$124.5M$80.6M$37.5M—$116.0M$130.0M
Unrecorded Unconditional Purchase Obligation$689.5M$689.5M$688.7M—$1.2B$628.0M

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Contingent Consideration Liability (Non-Current)———$238.0M—$212.0M
Contract Liabilities, Non-Current$5.6B$5.7B$5.8B$6.5B$6.1B$6.2B
Debt Maturity - 5 to 10 Years$218.2M$207.0M$265.3M—$290.0M$111.0M
Deferred revenue, net of current portion$5.6B$5.7B$5.8B$6.5B$6.1B$6.2B
Operating lease liabilities, non-current$379.6M$363.0M$345.7M$338.0M$346.0M$372.0M
Other non-current liabilities$843.8M$882.6M$878.0M$887.0M$913.0M$949.0M
Total liabilities$14.5B$14.6B$14.8B$518.0M$14.9B$373.0M