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Segments

By geography

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Europe, the Middle East, and Africa (“EMEA”)$633M+31.9%
Asia Pacific and Japan (“APAC”)$351M+25.8%
Other Americas$164M+56.2%

By product

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Subscription$1.63B+32.3%
Support$776M+28.9%

Other financials

Income statement

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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$276.54B+121%
Enterprise value$276.39B+124%
P/E328.1×+218×
P/S26.1×+12.5×

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 support2,4081,8366,5285,457
Total revenue3,0022,2898,0706,685
Cost of revenue:
Product167101371277
Subscription and support8075181,9261,495
Total cost of revenue9746192,2971,772

Item 1. Financial Statements

FAQ

What is Palo Alto Networks, Inc.'s total revenue?
Palo Alto Networks, Inc. (PANW) reported total revenue of $3B in Q1 2026.
How has Palo Alto Networks, Inc.'s total revenue changed year-over-year?
Palo Alto Networks, Inc.'s total revenue increased by 31.1% year-over-year, from $2.29B to $3B.
What is the long-term trend for Palo Alto Networks, Inc.'s total revenue?
Over 4 years (2021 to 2025), Palo Alto Networks, Inc.'s total revenue has grown at a 21.3% compound annual growth rate (CAGR), from $4.26B to $9.22B.
What does total revenue mean?
The aggregate of all revenue from the company's operations — the top line from which all profitability metrics are derived.

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