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Palo Alto Networks, Inc. PANW Subscription — Revenue:

Other product segments

Support
$776M+28.9%

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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$292.98B+154%
Enterprise value$292.84B+158%
P/E347.6×+246×
P/S27.6×+15.1×

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

Reported directly by Palo Alto Networks, Inc. in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Palo Alto Networks, Inc.’s 10-Q, filed June 3, 2026.

Filed
Jun 2, 2026, 8:00 PM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q2 2026
Accession
0001327567-26-000015
Line itemThree Months Ended April 30, 2026Three Months Ended April 30, 2025Nine Months Ended April 30, 2026Nine Months Ended April 30, 2025
Revenue:
Product$594$453$1,542$1,228
Subscription and support
Subscription1,6321,2344,4003,659
Support7766022,1281,798
Total subscription and support2,4081,8366,5285,457
Total revenue$3,002$2,289$8,070$6,685

Item 1. Financial Statements

FAQ

What is Palo Alto Networks, Inc.'s subscription — revenue:?
Palo Alto Networks, Inc. (PANW) reported subscription — revenue: of $1.63B in Q1 2026.
How has Palo Alto Networks, Inc.'s subscription — revenue: changed year-over-year?
Palo Alto Networks, Inc.'s subscription — revenue: increased by 32.3% year-over-year, from $1.23B to $1.63B.
What is the long-term trend for Palo Alto Networks, Inc.'s subscription — revenue:?
Over 4 years (2021 to 2025), Palo Alto Networks, Inc.'s subscription — revenue: has grown at a 27.2% compound annual growth rate (CAGR), from $1.9B to $4.97B.
What does subscription — revenue: mean?
This metric represents the total revenue generated from recurring software-as-a-service (SaaS) offerings, security subscriptions, and support services. It reflects the portion of the business model driven by long-term customer contracts rather than one-time hardware sales. This revenue stream is a critical indicator of the company's ability to maintain a predictable, recurring income base and drive customer retention through platform-based security services.

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