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

	Q3 '26	Q2 '26	Q1 '26	Q4 '25	Q3 '25
Profitability
Gross margin	71.9%-1.6pp	73.5%-0.4pp	73.5%-0.7pp	73.4%-0.9pp	73.6%-0.9pp
Operating margin	9.6%-1.5pp	14.4%+3.4pp	13.2%+4.1pp	13.5%+5.0pp	11.1%+2.1pp
Net margin	7.9%-6.0pp	13%-1.7pp	11.7%-21.3pp	12.3%-19.8pp	13.9%-17.5pp
EBITDA margin	18.8%+0.1pp	22.4%+3.9pp	20.8%+4.1pp	21.1%+5.1pp	18.7%+2.3pp
Free cash flow margin	35.8%+2.0pp	36%+1.8pp	38.6%+1.5pp	37.6%-1.0pp	33.8%-4.9pp
Returns
Return on equity	4.8%-16.3pp	16.3%-7.1pp	15.3%-52.3pp	17.5%-57.1pp	21.2%-64.7pp
Return on assets	2.5%-3.7pp	5.6%-0.8pp	5.1%-10.5pp	5.2%-9.7pp	6.2%-9.1pp
Return on invested capital	5.1%-19.3pp	24.1%-1.6pp	21.1%-11.9pp	20.7%-4.3pp	24.4%+7.0pp
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	0.9×0.0×	1×+0.2×	1×+0.1×	0.9×+0.1×	0.9×+0.1×
Quick ratio	0.9×0.0×	1×+0.2×	1×+0.1×	0.9×+0.1×	0.9×+0.1×
Cash ratio	0.3×0.0×	0.5×+0.2×	0.4×+0.1×	0.3×+0.1×	0.3×+0.1×
Leverage
Debt-to-equity	0.1×0.0×	0×-0.1×	0×-0.1×	0.1×-0.2×	0.1×-0.2×
Debt-to-assets	0×0.0×	0×0.0×	0×0.0×	0×-0.1×	0×-0.1×
Net debt / EBITDA	-0.1×+0.9×	-1.7×-0.9×	-1.4×-0.5×	-1×-0.9×	-1×-1.1×
Per Share
Book value per share	$34.54+238%	$13.21+46.9%	$12.22+46.6%	$11.03+51.1%	$10.23+62.4%
Valuation
Market capitalization	$145.43B+24.8%	$123.35B+104%	$149.07B+27.5%	$115.76B+9.9%	$116.56B+23.5%
Enterprise value	$145.29B+26.5%	$119.55B+103%	$146.35B+26.6%	$113.89B+8.3%	$114.89B+21.6%
Price / earnings	172.5×+78.4×	96.2×+48.1×	133.5×+90.7×	102.1×+61.2×	94.2×+55.6×
Price / sales	13.7×+0.6×	12.5×+5.4×	15.6×+1.5×	12.6×-0.6×	13.1×+1.0×
Price / book	5.3×-10.9×	13.1×+3.7×	17.2×-2.6×	14.8×-5.6×	16.1×-5.0×
EV / EBITDA	72.8×+3.7×	53.9×+16.8×	73.5×-10.1×	58.6×-23.6×	69.2×-4.9×
EV / sales	13.7×+0.8×	12.1×+5.2×	15.3×+1.4×	12.4×-0.8×	12.9×+0.8×
Free cash flow yield	2.6%0.0pp	2.9%-2.0pp	2.5%-0.2pp	3%+0.1pp	2.6%-0.6pp
Earnings yield	0.6%-0.5pp	1%-1.0pp	0.7%-1.6pp	1%-1.5pp	1.1%-1.5pp

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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.