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Debt-to-equity at other companies

Microsoft logo
MicrosoftMSFT
0.3×0.0×
Cisco Systems, Inc. logo
Cisco Systems, Inc.CSCO
0.7×0.0×
Akamai Technologies logo
Akamai TechnologiesAKAM
0.4×+0.1×
Fortinet logo
FortinetFTNT
0.6×0.0×
Cloudflare, Inc. logo
Cloudflare, Inc.NET
0.2×0.0×
CrowdStrike Holdings, Inc. logo
CrowdStrike Holdings, Inc.CRWD
0.2×-0.1×

Other financials

Income statement

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Revenue$3.0B+31.1%
Gross profit$2.0B+21.4%
Operating income-$183.0M-184%
Net income-$177.0M-168%
EPS (diluted)-$0.22-159%

Balance sheet

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Cash & equivalents$2.4B-0.9%
Total debt$2.2B+206%
Total equity$27.7B+283%
Total assets$46.3B+110%

Cash flow

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Operating cash flow$871.0M+38.7%
CapEx$83.0M+22.1%
Free cash flow$788.0M+40.7%

Valuation

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Market cap$234.54B+24.8%
Enterprise value$234.4B+26.5%
P/E278.3×+126×
P/S22.1×+0.9×

Profitability

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Gross margin71.9%-1.6pp
Operating margin9.6%-1.5pp
Net margin7.9%-6.0pp

Returns & leverage

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Return on equity4.8%-16.3pp
Current ratio0.9×0.0×

Where this comes from

Calculated from Palo Alto Networks, Inc.’s reported figures.

Based on the most recent quarter.

The official record: Palo Alto Networks, Inc.’s 10-Q, filed June 3, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Palo Alto Networks, Inc.'s debt-to-equity?
Palo Alto Networks, Inc. (PANW) reported debt-to-equity of 0.1× in Q1 2026.
How has Palo Alto Networks, Inc.'s debt-to-equity changed year-over-year?
Palo Alto Networks, Inc.'s debt-to-equity decreased by 20.0% year-over-year, from 0.1× to 0.1×.
What is the long-term trend for Palo Alto Networks, Inc.'s debt-to-equity?
Over 4 years (2021 to 2025), Palo Alto Networks, Inc.'s debt-to-equity has grown at a -63.7% compound annual growth rate (CAGR), from 3.1× to 0.1×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.