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EV / sales at other companies

Microsoft logo
MicrosoftMSFT
8.9×-1.7×
Cisco Systems, Inc. logo
Cisco Systems, Inc.CSCO
6.4×+1.9×
F5, Inc. logo
F5, Inc.FFIV
4.7×-0.2×
Akamai Technologies logo
Akamai TechnologiesAKAM
4.2×+1.2×
Fortinet logo
FortinetFTNT
8.3×-3.4×
Cloudflare, Inc. logo
Cloudflare, Inc.NET
30.9×+8.9×

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
FCF margin35.8%+2.0pp

Returns & leverage

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Return on equity4.8%-16.3pp
Debt / equity0.1×0.0×
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 EV / sales?
Palo Alto Networks, Inc. (PANW) reported EV / sales of 13.7× in Q1 2026.
How has Palo Alto Networks, Inc.'s EV / sales changed year-over-year?
Palo Alto Networks, Inc.'s EV / sales increased by 5.8% year-over-year, from 12.9× to 13.7×.
What is the long-term trend for Palo Alto Networks, Inc.'s EV / sales?
Over 5 years (2020 to 2025), Palo Alto Networks, Inc.'s EV / sales has grown at a 91.3% compound annual growth rate (CAGR), from 0.5× to 12.4×.
What does EV / sales mean?
What the whole business costs relative to its annual sales.
How do you interpret EV / sales?
A fallback valuation gauge for pre-profit or cyclical firms. Like P/S, only comparable across similar-margin businesses, but it accounts for debt and cash unlike P/S.
How does EV / sales compare across companies?
Compare within a margin cohort; the debt-and-cash adjustment makes it cleaner than P/S for leveraged firms.