# Palo Alto Networks Inc: financial statements, quarterly

PANW · Nasdaq · CIK 1327567 · [Technology](/sectors/technology.md) · fiscal year ends Jul 31

Pages: [Overview](/companies/panw.md) · [Financials](/companies/panw/financials.md) · [Filings](/companies/panw/filings.md) · [Insiders](/companies/panw/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/panw/financials.md?period=annual).

## Income statement

| Line item | Unit | Q1 FY2024 (2023-10-31) | Q2 FY2024 (2024-01-31) | Q3 FY2024 (2024-04-30) | Q4 FY2024 (2024-07-31) | Q1 FY2025 (2024-10-31) | Q2 FY2025 (2025-01-31) | Q3 FY2025 (2025-04-30) | Q4 FY2025 (2025-07-31) | Q1 FY2026 (2025-10-31) | Q2 FY2026 (2026-01-31) | Q3 FY2026 (2026-04-30) | Q4 FY2026 (2026-07-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,878](/filings/0001327567-24-000040.md) | [1,975](/filings/0001327567-25-000010.md) | [1,985](/filings/0001327567-25-000017.md) | [2,189 d](/filings/0001327567-26-000023.md) | [2,139](/filings/0001327567-25-000035.md) | [2,257](/filings/0001327567-26-000005.md) | [2,289](/filings/0001327567-26-000015.md) | [2,536 d](/filings/0001327567-26-000023.md) | [2,474](/filings/0001327567-25-000035.md) | [2,594](/filings/0001327567-26-000005.md) | [3,002](/filings/0001327567-26-000015.md) | [3,410 d](/filings/0001327567-26-000023.md) |
| Cost of revenue | $m | [473](/filings/0001327567-24-000040.md) | [499](/filings/0001327567-25-000010.md) | [514](/filings/0001327567-25-000017.md) | [574 d](/filings/0001327567-26-000023.md) | [554](/filings/0001327567-25-000035.md) | [599](/filings/0001327567-26-000005.md) | [619](/filings/0001327567-26-000015.md) | [679 d](/filings/0001327567-26-000023.md) | [638](/filings/0001327567-25-000035.md) | [685](/filings/0001327567-26-000005.md) | [974](/filings/0001327567-26-000015.md) | [1,106 d](/filings/0001327567-26-000023.md) |
| Gross profit | $m | [1,405](/filings/0001327567-24-000040.md) | [1,476](/filings/0001327567-25-000010.md) | [1,471](/filings/0001327567-25-000017.md) | [1,616 d](/filings/0001327567-26-000023.md) | [1,585](/filings/0001327567-25-000035.md) | [1,658](/filings/0001327567-26-000005.md) | [1,670](/filings/0001327567-26-000015.md) | [1,857 d](/filings/0001327567-26-000023.md) | [1,836](/filings/0001327567-25-000035.md) | [1,909](/filings/0001327567-26-000005.md) | [2,028](/filings/0001327567-26-000015.md) | [2,304 d](/filings/0001327567-26-000023.md) |
| Research and development | $m | [410](/filings/0001327567-24-000040.md) | [448](/filings/0001327567-25-000010.md) | [457](/filings/0001327567-25-000017.md) | [495 d](/filings/0001327567-26-000023.md) | [481](/filings/0001327567-25-000035.md) | [505](/filings/0001327567-26-000005.md) | [494](/filings/0001327567-26-000015.md) | [504 d](/filings/0001327567-26-000023.md) | [528](/filings/0001327567-25-000035.md) | [511](/filings/0001327567-26-000005.md) | [734](/filings/0001327567-26-000015.md) | [779 d](/filings/0001327567-26-000023.md) |
| Operating income | $m | [215](/filings/0001327567-24-000040.md) | [53.6](/filings/0001327567-25-000010.md) | [177](/filings/0001327567-25-000017.md) | [239 d](/filings/0001327567-26-000023.md) | [286](/filings/0001327567-25-000035.md) | [241](/filings/0001327567-26-000005.md) | [219](/filings/0001327567-26-000015.md) | [497 d](/filings/0001327567-26-000023.md) | [309](/filings/0001327567-25-000035.md) | [397](/filings/0001327567-26-000005.md) | [(183)](/filings/0001327567-26-000015.md) | [172 d](/filings/0001327567-26-000023.md) |
| Interest expense | $m | [2.9](/filings/0001327567-23-000032.md) | [2.8](/filings/0001327567-24-000005.md) | [2.3](/filings/0001327567-24-000017.md) | [0.3 d](/filings/0001327567-24-000029.md) | [1.0](/filings/0001327567-25-000035.md) | [1.0](/filings/0001327567-26-000005.md) | [1.0](/filings/0001327567-26-000015.md) | [0.0 d](/filings/0001327567-26-000023.md) | [0.0](/filings/0001327567-25-000035.md) | [0.0](/filings/0001327567-26-000005.md) | [0.0](/filings/0001327567-26-000015.md) | [0.0 d](/filings/0001327567-26-000023.md) |
| Income tax | $m | [88.4](/filings/0001327567-24-000040.md) | [(1,611)](/filings/0001327567-25-000010.md) | [(27.6)](/filings/0001327567-25-000017.md) | [(39.4) d](/filings/0001327567-26-000023.md) | [17.0](/filings/0001327567-25-000035.md) | [58.0](/filings/0001327567-26-000005.md) | [49.0](/filings/0001327567-26-000015.md) | [338 d](/filings/0001327567-26-000023.md) | [78.0](/filings/0001327567-25-000035.md) | [117](/filings/0001327567-26-000005.md) | [21.0](/filings/0001327567-26-000015.md) | [13.0 d](/filings/0001327567-26-000023.md) |
| Net income | $m | [194](/filings/0001327567-24-000040.md) | [1,747](/filings/0001327567-25-000010.md) | [279](/filings/0001327567-25-000017.md) | [358 d](/filings/0001327567-26-000023.md) | [351](/filings/0001327567-25-000035.md) | [267](/filings/0001327567-26-000005.md) | [262](/filings/0001327567-26-000015.md) | [254 d](/filings/0001327567-26-000023.md) | [334](/filings/0001327567-25-000035.md) | [432](/filings/0001327567-26-000005.md) | [(177)](/filings/0001327567-26-000015.md) | [(282) d](/filings/0001327567-26-000023.md) |
| Diluted EPS | $ per share | [0.56](/filings/0001327567-24-000040.md) | [2.44](/filings/0001327567-25-000010.md) | [0.39](/filings/0001327567-25-000017.md) | not reported | [0.49](/filings/0001327567-25-000035.md) | [0.38](/filings/0001327567-26-000005.md) | [0.37](/filings/0001327567-26-000015.md) | not reported | [0.47](/filings/0001327567-25-000035.md) | [0.61](/filings/0001327567-26-000005.md) | [(0.22)](/filings/0001327567-26-000015.md) | not reported |
| Basic EPS | $ per share | [0.63](/filings/0001327567-24-000040.md) | [2.73](/filings/0001327567-25-000010.md) | [0.43](/filings/0001327567-25-000017.md) | not reported | [0.54](/filings/0001327567-25-000035.md) | [0.41](/filings/0001327567-26-000005.md) | [0.39](/filings/0001327567-26-000015.md) | not reported | [0.49](/filings/0001327567-25-000035.md) | [0.61](/filings/0001327567-26-000005.md) | [(0.22)](/filings/0001327567-26-000015.md) | not reported |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Cost of revenue: us-gaap:CostOfGoodsAndServicesSold
- Gross profit: us-gaap:GrossProfit
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense, us-gaap:InterestExpenseNonoperating
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q1 FY2024 (2023-10-31) | Q2 FY2024 (2024-01-31) | Q3 FY2024 (2024-04-30) | FY2024 (2024-07-31) | Q1 FY2025 (2024-10-31) | Q2 FY2025 (2025-01-31) | Q3 FY2025 (2025-04-30) | FY2025 (2025-07-31) | Q1 FY2026 (2025-10-31) | Q2 FY2026 (2026-01-31) | Q3 FY2026 (2026-04-30) | FY2026 (2026-07-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $bn | [2.5](/filings/0001327567-24-000040.md) | [1.8](/filings/0001327567-25-000010.md) | [1.4](/filings/0001327567-25-000017.md) | [1.5](/filings/0001327567-26-000023.md) | [2.3](/filings/0001327567-25-000035.md) | [2.2](/filings/0001327567-26-000005.md) | [2.4](/filings/0001327567-26-000015.md) | [2.3](/filings/0001327567-26-000023.md) | [3.1](/filings/0001327567-25-000035.md) | [4.2](/filings/0001327567-26-000005.md) | [2.4](/filings/0001327567-26-000015.md) | [2.5](/filings/0001327567-26-000023.md) |
| Current assets | $bn | [6.5](/filings/0001327567-23-000032.md) | [6.4](/filings/0001327567-24-000005.md) | [5.9](/filings/0001327567-24-000017.md) | [6.8](/filings/0001327567-25-000027.md) | [6.2](/filings/0001327567-24-000040.md) | [6.3](/filings/0001327567-25-000010.md) | [6.9](/filings/0001327567-25-000017.md) | [7.5](/filings/0001327567-26-000023.md) | [7.3](/filings/0001327567-25-000035.md) | [8.4](/filings/0001327567-26-000005.md) | [7.7](/filings/0001327567-26-000015.md) | [8.6](/filings/0001327567-26-000023.md) |
| Total assets | $bn | [14.8](/filings/0001327567-23-000032.md) | [18.3](/filings/0001327567-24-000005.md) | [17.9](/filings/0001327567-24-000017.md) | [20.0](/filings/0001327567-25-000027.md) | [20.4](/filings/0001327567-24-000040.md) | [21.0](/filings/0001327567-25-000010.md) | [22.0](/filings/0001327567-25-000017.md) | [23.6](/filings/0001327567-26-000023.md) | [23.5](/filings/0001327567-25-000035.md) | [25.0](/filings/0001327567-26-000005.md) | [46.3](/filings/0001327567-26-000015.md) | [48.5](/filings/0001327567-26-000023.md) |
| Current liabilities | $bn | [7.5](/filings/0001327567-23-000032.md) | [7.8](/filings/0001327567-24-000005.md) | [7.1](/filings/0001327567-24-000017.md) | [7.7](/filings/0001327567-25-000027.md) | [7.4](/filings/0001327567-24-000040.md) | [7.6](/filings/0001327567-25-000010.md) | [7.7](/filings/0001327567-25-000017.md) | [8.0](/filings/0001327567-26-000023.md) | [7.4](/filings/0001327567-25-000035.md) | [8.0](/filings/0001327567-26-000005.md) | [9.0](/filings/0001327567-26-000015.md) | [9.9](/filings/0001327567-26-000023.md) |
| Total liabilities | $bn | [12.6](/filings/0001327567-23-000032.md) | [13.9](/filings/0001327567-24-000005.md) | [13.5](/filings/0001327567-24-000017.md) | [14.8](/filings/0001327567-25-000027.md) | [14.5](/filings/0001327567-24-000040.md) | [14.6](/filings/0001327567-25-000010.md) | [14.8](/filings/0001327567-25-000017.md) | [15.8](/filings/0001327567-26-000023.md) | [14.9](/filings/0001327567-25-000035.md) | [15.6](/filings/0001327567-26-000005.md) | [18.6](/filings/0001327567-26-000015.md) | [21.0](/filings/0001327567-26-000023.md) |
| Long-term debt | $bn | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Shareholders' equity | $bn | [2.2](/filings/0001327567-25-000010.md) | [4.4](/filings/0001327567-25-000017.md) | [4.5](/filings/0001327567-25-000017.md) | [5.2](/filings/0001327567-26-000023.md) | [5.9](/filings/0001327567-26-000005.md) | [6.4](/filings/0001327567-26-000015.md) | [7.2](/filings/0001327567-26-000015.md) | [7.8](/filings/0001327567-26-000023.md) | [8.7](/filings/0001327567-26-000005.md) | [9.4](/filings/0001327567-26-000015.md) | [27.7](/filings/0001327567-26-000015.md) | [27.5](/filings/0001327567-26-000023.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: not reported
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q1 FY2024 (2023-10-31) | Q2 FY2024 (2024-01-31) | Q3 FY2024 (2024-04-30) | Q4 FY2024 (2024-07-31) | Q1 FY2025 (2024-10-31) | Q2 FY2025 (2025-01-31) | Q3 FY2025 (2025-04-30) | Q4 FY2025 (2025-07-31) | Q1 FY2026 (2025-10-31) | Q2 FY2026 (2026-01-31) | Q3 FY2026 (2026-04-30) | Q4 FY2026 (2026-07-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [1,526](/filings/0001327567-24-000040.md) | [690 d](/filings/0001327567-25-000010.md) | [529 d](/filings/0001327567-25-000017.md) | [513 d](/filings/0001327567-26-000023.md) | [1,510](/filings/0001327567-25-000035.md) | [557 d](/filings/0001327567-26-000005.md) | [628 d](/filings/0001327567-26-000015.md) | [1,021 d](/filings/0001327567-26-000023.md) | [1,771](/filings/0001327567-25-000035.md) | [554 d](/filings/0001327567-26-000005.md) | [871 d](/filings/0001327567-26-000015.md) | [1,357 d](/filings/0001327567-26-000023.md) |
| Capital expenditure | $m | [36.8](/filings/0001327567-24-000040.md) | [35.2 d](/filings/0001327567-25-000010.md) | [37.4 d](/filings/0001327567-25-000017.md) | [47.6 d](/filings/0001327567-26-000023.md) | [44.0](/filings/0001327567-25-000035.md) | [48.0 d](/filings/0001327567-26-000005.md) | [68.0 d](/filings/0001327567-26-000015.md) | [87.0 d](/filings/0001327567-26-000023.md) | [84.0](/filings/0001327567-25-000035.md) | [170 d](/filings/0001327567-26-000005.md) | [83.0 d](/filings/0001327567-26-000015.md) | [103 d](/filings/0001327567-26-000023.md) |
| Share repurchases | $m | [66.7](/filings/0001327567-24-000040.md) | [0.0](/filings/0001327567-24-000005.md) | [500 d](/filings/0001327567-25-000017.md) | [0.3 d](/filings/0001327567-26-000023.md) | [0.0](/filings/0001327567-24-000040.md) | [0.0 d](/filings/0001327567-25-000010.md) | [0.0 d](/filings/0001327567-26-000015.md) | [0.0 d](/filings/0001327567-26-000023.md) | not reported | not reported | not reported | [0.0 d](/filings/0001327567-26-000023.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets
- Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock

## Shares

| Line item | Unit | Q1 FY2023 (2022-10-31) | Q2 FY2023 (2023-01-31) | Q3 FY2023 (2023-04-30) | Q1 FY2024 (2023-10-31) | Q2 FY2024 (2024-01-31) | Q3 FY2024 (2024-04-30) | Q1 FY2025 (2024-10-31) | Q2 FY2025 (2025-01-31) | Q3 FY2025 (2025-04-30) | Q1 FY2026 (2025-10-31) | Q2 FY2026 (2026-01-31) | Q3 FY2026 (2026-04-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [338](/filings/0001327567-23-000032.md) | [332](/filings/0001327567-24-000005.md) | [345](/filings/0001327567-24-000017.md) | [350](/filings/0001327567-24-000040.md) | [715](/filings/0001327567-25-000010.md) | [709](/filings/0001327567-25-000017.md) | [709](/filings/0001327567-25-000035.md) | [709](/filings/0001327567-26-000005.md) | [707](/filings/0001327567-26-000015.md) | [709](/filings/0001327567-25-000035.md) | [711](/filings/0001327567-26-000005.md) | [801](/filings/0001327567-26-000015.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 818,000,000 at 2026-08-31, from the cover of the [10-K filed 2026-09-10](/filings/0001327567-26-000023.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:37 ET. No prices; not investment advice.