Total Operating Expenses
Palo Alto Networks, Inc. Total Operating Expenses decreased by 1.0% to $1.51B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 6.7%, from $1.42B to $1.51B. Over 4 years (FY 2021 to FY 2025), Total Operating Expenses shows an upward trend with a 13.9% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
An increase faster than revenue growth suggests declining operating margins, while slower growth indicates effective cost control.
Detailed definition
Total operating expenses represent the sum of all costs incurred to operate the business, excluding the cost of goods so...
Peer comparison
Used to calculate operating margin; peers in the healthcare sector monitor this closely to manage profitability against R&D requirements.
total_operating_expensesHistorical Data
| Q1 '21 | Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $853.70M | $920.80M | $949.50M | $985.50M | $993.80M | $1.04B | $1.09B | $1.15B | $1.17B | $1.19B | $1.19B | $1.42B | $1.29B | $1.38B | $1.30B | $1.42B | $1.45B | $1.36B | $1.53B | $1.51B |
| QoQ Change | — | +7.9% | +3.1% | +3.8% | +0.8% | +4.9% | +4.2% | +5.8% | +1.6% | +2.2% | -0.2% | +19.5% | -9.0% | +6.4% | -5.7% | +9.1% | +2.4% | -6.3% | +12.3% | -1.0% |
| YoY Change | — | — | — | — | +16.4% | +13.2% | +14.4% | +16.6% | +17.5% | +14.4% | +9.6% | +23.8% | +10.9% | +15.5% | +9.2% | -0.4% | +12.1% | -1.3% | +17.6% | +6.7% |
Total Operating Expenses at Other Companies
Frequently Asked Questions
- What is Palo Alto Networks, Inc.'s total operating expenses?
- Palo Alto Networks, Inc. (PANW) reported total operating expenses of $1.51B in Q4 2025.
- How has Palo Alto Networks, Inc.'s total operating expenses changed year-over-year?
- Palo Alto Networks, Inc.'s total operating expenses increased by 6.7% year-over-year, from $1.42B to $1.51B.
- What is the long-term trend for Palo Alto Networks, Inc.'s total operating expenses?
- Over 4 years (2021 to 2025), Palo Alto Networks, Inc.'s total operating expenses has grown at a 13.9% compound annual growth rate (CAGR), from $3.29B to $5.53B.
- What does total operating expenses mean?
- The total cost of running the business, including all non-production expenses.