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Price / book at other companies

Microsoft logo
MicrosoftMSFT
6.6×-2.0×
Cisco Systems, Inc. logo
Cisco Systems, Inc.CSCO
7.4×+2.5×
Akamai Technologies logo
Akamai TechnologiesAKAM
3.4×+0.8×
Fortinet logo
FortinetFTNT
61.1×+23.4×
Cloudflare, Inc. logo
Cloudflare, Inc.NET
47.6×+20.3×
CrowdStrike Holdings, Inc. logo
CrowdStrike Holdings, Inc.CRWD
24.4×-5.3×

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 price / book?
Palo Alto Networks, Inc. (PANW) reported price / book of 5.3× in Q1 2026.
How has Palo Alto Networks, Inc.'s price / book changed year-over-year?
Palo Alto Networks, Inc.'s price / book decreased by 67.4% year-over-year, from 16.1× to 5.3×.
What is the long-term trend for Palo Alto Networks, Inc.'s price / book?
Over 4 years (2021 to 2025), Palo Alto Networks, Inc.'s price / book has grown at a 9.4% compound annual growth rate (CAGR), from 10.3× to 14.8×.
What does price / book mean?
How the market price compares to the company's accounting net worth.
How do you interpret price / book?
Below 1.0 can flag a market discount to book value (common for distressed or asset-heavy firms); high values reflect intangible value the balance sheet doesn't capture. Most informative for financials and asset-heavy businesses.
How does price / book compare across companies?
A core valuation gauge for banks and insurers; weak for asset-light firms where book value understates economic value.