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Net debt / EBITDA at other companies

Microsoft logo
MicrosoftMSFT
0.5×0.0×
Cisco Systems, Inc. logo
Cisco Systems, Inc.CSCO
1.5×0.0×
F5, Inc. logo
F5, Inc.FFIV
-1.3×+0.1×
Akamai Technologies logo
Akamai TechnologiesAKAM
0.9×+0.9×
Fortinet logo
FortinetFTNT
-0.7×-0.2×
Cloudflare, Inc. logo
Cloudflare, Inc.NET
-5×-5.4×

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 net debt / EBITDA?
Palo Alto Networks, Inc. (PANW) reported net debt / EBITDA of -0.1× in Q1 2026.
How has Palo Alto Networks, Inc.'s net debt / EBITDA changed year-over-year?
Palo Alto Networks, Inc.'s net debt / EBITDA increased by 92.9% year-over-year, from -1× to -0.1×.
What is the long-term trend for Palo Alto Networks, Inc.'s net debt / EBITDA?
Over 4 years (2020 to 2025), Palo Alto Networks, Inc.'s net debt / EBITDA has grown at a -60.8% compound annual growth rate (CAGR), from -40.7× to -1×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.