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Palo Alto Networks, Inc. PANW Q1 2026 earnings

Reported November 19, 2025 · After market close

Revenue$2.5BBeat by $12.3M
EPS$0.93Beat by $0.04
Revenue estimate$2.5B
EPS estimate$0.89

Next report

Sep 1, 2026 (In 4 days)
Revenue estimate$3.4B
EPS estimate$0.98

Financials

Q1 2026

Income statement

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Revenue$2.5B+15.7%
Gross profit$1.8B+15.8%
Operating income$309.0M+8.0%
Net income$334.0M-4.8%
EPS (diluted)$0.47-4.1%

Balance sheet

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Cash & equivalents$3.1B+34.1%
Total debt$346.0M-66.3%
Total equity$8.7B+46.6%
Total assets$23.5B+15.5%

Cash flow

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Operating cash flow$1.8B+17.3%
CapEx$84.0M+90.9%
Free cash flow$1.7B+15.1%

Valuation & ratios

Valuation

as of 10/31/25
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Market cap$149.07B+27.5%
Enterprise value$146.35B+26.6%
P/E133.5×+90.7×
P/S15.6×+1.5×

Profitability

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Gross margin73.5%-0.7pp
Operating margin13.2%+4.1pp
Net margin11.7%-21.3pp
FCF margin38.6%+1.5pp

Returns & leverage

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Return on equity15.3%-52.3pp
Debt / equity0×-0.1×
Current ratio1×+0.1×

Segments

By geography

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Europe, the Middle East, and Africa (“EMEA”)$521.0M+17.9%
Asia Pacific and Japan (“APAC”)$312.0M+22.4%
Other Americas$115.0M+17.3%

By product

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Subscription$1.4B+14.4%
Support$676.0M+14.0%

FAQ

When did Palo Alto Networks, Inc. report Q1 2026 earnings?
Palo Alto Networks, Inc. (PANW) reported Q1 2026 earnings on November 19, 2025 after market close.
What were Palo Alto Networks, Inc.'s Q1 2026 revenue and EPS?
Palo Alto Networks, Inc. reported revenue of $2.5B and eps of $0.93 for Q1 2026.
Did Palo Alto Networks, Inc. beat estimates in Q1 2026?
Revenue beat the consensus estimate of $2.5B by $12.3M. EPS beat the consensus estimate of $0.89 by $0.04.
How did Palo Alto Networks, Inc.'s Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 15.7% from $2.1B a year earlier and eps grew 19.2% from $0.78.
Where can I find Palo Alto Networks, Inc.'s Q1 2026 SEC filings?
You can read the 8-K earnings release (0001327567-25-000032) and the 10-Q periodic report (0001327567-25-000035) directly on SEC EDGAR. The filing index links above go to sec.gov.