Palo Alto Networks Cash Flow Statement

Financials in millions USD. Fiscal year is August - July.

Millions USD. Fiscal year is Aug - Jul.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jan '26 Jan 31, 2026	Jul '25 Jul 31, 2025	Jul '24 Jul 31, 2024	Jul '23 Jul 31, 2023	Jul '22 Jul 31, 2022	Jul '21 Jul 31, 2021
Net Income	1,282	1,134	2,578	439.7	-267	-498.9
Depreciation & Amortization	870.6	849.4	728	700	719.8	758.9
Stock-Based Compensation	1,351	1,295	1,075	1,075	1,011	894.5
Other Adjustments	-180.2	-485.2	-2,034	12.5	-3.1	-0.1
Change in Receivables	-227.2	-154.2	-1,020	-1,059	-932.1	-445
Changes in Accounts Payable	113.8	106.8	-15	1	69.3	-11.8
Changes in Accrued Expenses	237.1	198.8	388.3	9.6	-14.5	76.6
Changes in Unearned Revenue	1,141	1,238	2,181	2,302	1,970	1,196
Changes in Other Operating Activities	-613.7	-466.7	-623.4	-702.5	-568.8	-467.3
Operating Cash Flow	3,974	3,716	3,258	2,778	1,985	1,503
Operating Cash Flow Growth	27.84%	14.07%	17.29%	39.95%	32.05%	45.12%
Capital Expenditures	-408.2	-246.2	-156.8	-146.3	-192.8	-116
Purchases of Investments	-3,889	-3,696	-3,551	-5,460	-2,272	-1,959
Proceeds from Sale of Investments	5,819	2,792	2,809	3,777	1,568	1,372
Payments for Business Acquisitions	-3,133	-1,054	-610.6	-204.5	-37	-777.3
Investing Cash Flow	-1,612	-2,205	-1,510	-2,034	-933.4	-1,481
Long-Term Debt Repaid	-533.6	-965.6	-1,034	-1,692	-0.6	-0.9
Net Long-Term Debt Issued (Repaid)	-533.6	-965.6	-1,034	-1,692	-0.6	-0.9
Issuance of Common Stock	350.5	370.5	283.9	258.8	136.6	104
Repurchase of Common Stock	-114.8	-183.8	-593.3	-293.1	-942.6	-1,207
Net Common Stock Issued (Repurchased)	235.7	186.7	-309.4	-34.3	-806	-1,103
Other Financing Activities	-135	-	-	-	-	-0.2
Financing Cash Flow	-432.9	-778.9	-1,343	-1,726	-806.6	-1,104
Net Cash Flow	1,929	732.4	404.6	-982.6	244.7	-1,082
Free Cash Flow	3,566	3,470	3,101	2,631	1,792	1,387
Free Cash Flow Growth	2.77%	11.90%	17.85%	46.84%	29.19%	68.88%
FCF Margin	36.04%	37.63%	38.63%	38.17%	32.57%	32.59%
Free Cash Flow Per Share	5.03	4.89	4.38	3.84	3.03	2.40
Levered Free Cash Flow	2,089	1,849	4,046	911.2	1,715	936.7
Unlevered Free Cash Flow	2,319	2,563	4,285	2,464	1,740	1,110

Updated Jan 31, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.