Current Liabilities
Deferred Revenue
Palo Alto Networks, Inc. Deferred Revenue increased by 1.9% to $6.25B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 11.6%, from $5.60B to $6.25B. Over 4 years (FY 2021 to FY 2025), Deferred Revenue shows an upward trend with a 23.1% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
StatementBalance Sheet Statement
SectionCurrent Liabilities
CategoryGrowth
SignalHigher is better
VolatilityModerate
First reportedQ4 2015
Last reportedQ2 2026Feb 18, 2026
How to read this metric
An increase is generally positive, signaling strong future demand and cash collection, while a decrease indicates the fulfillment of obligations.
Detailed definition
This represents payments received from customers for goods or services that have not yet been delivered or performed. It...
Peer comparison
Common in subscription and long-term contract businesses; highly indicative of future revenue visibility.
Metric ID:
deferred_revenue_currentHistorical Data
16 periods
| Q4 '21 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $2.74B | $3.64B | $3.74B | $3.94B | $4.15B | $4.67B | $4.73B | $4.92B | $5.01B | $5.54B | $5.51B | $5.60B | $5.76B | $6.30B | $6.13B | $6.25B |
| QoQ Change | — | +32.8% | +2.7% | +5.4% | +5.2% | +12.7% | +1.2% | +3.9% | +2.0% | +10.5% | -0.6% | +1.7% | +2.8% | +9.5% | -2.7% | +1.9% |
| YoY Change | — | +32.8% | — | — | — | +28.4% | +26.5% | +24.7% | +20.9% | +18.5% | +16.4% | +13.9% | +14.8% | +13.7% | +11.3% | +11.6% |
Range$2.74B – $6.30B
CAGR+24.6%
Avg YoY Growth+19.5%
Median YoY Growth+17.5%
Deferred Revenue at Other Companies
Frequently Asked Questions
- What is Palo Alto Networks, Inc.'s deferred revenue?
- Palo Alto Networks, Inc. (PANW) reported deferred revenue of $6.25B in Q4 2025.
- How has Palo Alto Networks, Inc.'s deferred revenue changed year-over-year?
- Palo Alto Networks, Inc.'s deferred revenue increased by 11.6% year-over-year, from $5.60B to $6.25B.
- What is the long-term trend for Palo Alto Networks, Inc.'s deferred revenue?
- Over 4 years (2021 to 2025), Palo Alto Networks, Inc.'s deferred revenue has grown at a 23.1% compound annual growth rate (CAGR), from $2.74B to $6.30B.
- What does deferred revenue mean?
- Cash received from customers for work that has not yet been completed.