What are Palo Alto Networks, Inc.'s profit margins?

Palo Alto Networks, Inc. (PANW) runs a 71.9% gross margin and a 9.6% operating margin, with a 7.9% net margin.

Where do Palo Alto Networks, Inc.'s ratios come from?

Every ratio is computed from Palo Alto Networks, Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Palo Alto Networks, Inc. PANW Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q3 '26	TTM Q2 '26	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25
Profitability
Gross margin	71.9%-1.6pp	73.5%0.0pp	73.5%+0.1pp	73.4%-0.2pp	73.6%-0.3pp
Operating margin	9.6%-4.8pp	14.4%+1.1pp	13.2%-0.2pp	13.5%+2.4pp	11.1%+0.1pp
Net margin	7.9%-5.0pp	13%+1.3pp	11.7%-0.6pp	12.3%-1.7pp	13.9%-0.7pp
EBITDA margin	18.8%-3.6pp	22.4%+1.6pp	20.8%-0.2pp	21.1%+2.3pp	18.7%+0.2pp
Free cash flow margin	35.8%-0.3pp	36%-2.6pp	38.6%+1.0pp	37.6%+3.8pp	33.8%-0.4pp
Returns
Return on equity	4.8%-11.4pp	16.3%+0.9pp	15.3%-2.1pp	17.5%-3.7pp	21.2%-2.2pp
Return on assets	2.5%-3.1pp	5.6%+0.5pp	5.1%-0.1pp	5.2%-1.0pp	6.2%-0.2pp
Return on invested capital	5.1%-19.0pp	24.1%+3.0pp	21.1%+0.5pp	20.7%-3.7pp	24.4%-1.4pp
Efficiency
Asset turnover	0.3×-0.1×	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.4×0.0×
Liquidity
Current ratio	0.9×-0.2×	1×+0.1×	1×0.0×	0.9×0.0×	0.9×+0.1×
Quick ratio	0.9×-0.2×	1×+0.1×	1×0.0×	0.9×0.0×	0.9×+0.1×
Cash ratio	0.3×-0.3×	0.5×+0.1×	0.4×+0.1×	0.3×0.0×	0.3×0.0×
Leverage
Debt-to-equity	0.1×0.0×	0×0.0×	0×0.0×	0.1×0.0×	0.1×0.0×
Debt-to-assets	0×0.0×	0×0.0×	0×0.0×	0×0.0×	0×0.0×
Net debt / EBITDA	-0.1×+1.6×	-1.7×-0.3×	-1.4×-0.4×	-1×0.0×	-1×-0.2×
Per Share
Book value per share	$34.54+161%	$13.21+8.1%	$12.22+10.8%	$11.03+7.9%	$10.23+13.7%
Valuation
Market capitalization	$145.43B+17.9%	$123.35B-17.3%	$149.07B+28.8%	$115.76B-0.7%	$116.56B+93.1%
Enterprise value	$145.29B+21.5%	$119.55B-18.3%	$146.35B+28.5%	$113.89B-0.9%	$114.89B+94.7%
Price / earnings	172.5×+76.3×	96.2×-37.2×	133.5×+31.4×	102.1×+7.9×	94.2×+46.1×
Price / sales	13.7×+1.2×	12.5×-3.1×	15.6×+3.0×	12.6×-0.6×	13.1×+6.1×
Price / book	5.3×-7.9×	13.1×-4.1×	17.2×+2.4×	14.8×-1.3×	16.1×+6.7×
EV / EBITDA	72.8×+18.9×	53.9×-19.6×	73.5×+14.9×	58.6×-10.5×	69.2×+32.0×
EV / sales	13.7×+1.6×	12.1×-3.2×	15.3×+3.0×	12.4×-0.6×	12.9×+6.1×
Free cash flow yield	2.6%-0.3pp	2.9%+0.4pp	2.5%-0.5pp	3%+0.4pp	2.6%-2.3pp
Earnings yield	0.6%-0.5pp	1%+0.3pp	0.7%-0.2pp	1%-0.1pp	1.1%-1.0pp

Chart any of these lines over time, or line them up against competitors.

Compare these in charts →

Ask your AI about Palo Alto Networks, Inc..

Connect your AI assistant and get a quick read on the numbers, right in your chat.

Connect your AI

Claude

Questions, answered.

What are Palo Alto Networks, Inc.'s profit margins?: Palo Alto Networks, Inc. (PANW) runs a 71.9% gross margin and a 9.6% operating margin, with a 7.9% net margin.
Where do Palo Alto Networks, Inc.'s ratios come from?: Every ratio is computed from Palo Alto Networks, Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.