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	Oct '25 Oct 31, 2025	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	1,117	1,134	2,578	439.7	-267	-498.9
Depreciation & Amortization	265.7	260.7	206.1	202.7	220.2	212.6
Other Amortization	580.4	564.4	526.7	499.6	431.7	488.7
Loss (Gain) From Sale of Investments	-33.1	-41.1	-60.1	-52.2	13.5	13.1
Stock-Based Compensation	1,370	1,295	1,075	1,075	1,011	894.5
Other Operating Activities	-290.8	-419.8	-1,978	62.4	51.3	44.4
Change in Accounts Receivable	-209.3	-345.3	-154.3	-320.3	-902	-172.4
Change in Accounts Payable	7.8	106.8	-15	1	69.3	-11.8
Change in Unearned Revenue	1,132	1,238	2,181	2,302	1,970	1,196
Change in Other Net Operating Assets	37.2	-76.8	-1,101	-1,432	-613.4	-663.3
Operating Cash Flow	3,977	3,716	3,258	2,778	1,985	1,503
Operating Cash Flow Growth	22.69%	14.07%	17.29%	39.95%	32.05%	45.12%
Capital Expenditures	-286.2	-246.2	-156.8	-146.3	-192.8	-116
Cash Acquisitions	-556.4	-1,054	-610.6	-204.5	-37	-777.3
Investment in Securities	-1,801	-904.1	-742.5	-1,683	-703.6	-587.3
Investing Cash Flow	-2,644	-2,205	-1,510	-2,034	-933.4	-1,481
Long-Term Debt Repaid	-	-965.6	-1,034	-1,692	-0.6	-0.9
Net Debt Issued (Repaid)	-646.6	-965.6	-1,034	-1,692	-0.6	-0.9
Issuance of Common Stock	379.5	370.5	283.9	258.8	136.6	104
Repurchase of Common Stock	-162.8	-183.8	-593.3	-293.1	-942.6	-1,207
Other Financing Activities	-121	-	-	-	-	-0.2
Financing Cash Flow	-550.9	-778.9	-1,343	-1,726	-806.6	-1,104
Net Cash Flow	782.4	732.4	404.6	-982.6	244.7	-1,082
Free Cash Flow	3,691	3,470	3,101	2,631	1,792	1,387
Free Cash Flow Growth	19.93%	11.90%	17.85%	46.84%	29.19%	68.88%
Free Cash Flow Margin	38.62%	37.63%	38.63%	38.17%	32.57%	32.59%
Free Cash Flow Per Share	5.20	4.89	4.38	3.84	3.03	2.40
Cash Interest Paid	1.7	1.7	5.6	20.2	20.2	20
Cash Income Tax Paid	505.5	505.5	342.3	147.1	34.6	24.9
Levered Free Cash Flow	3,034	3,386	2,565	2,107	1,374	1,722
Unlevered Free Cash Flow	3,035	3,387	2,566	2,118	1,384	1,682
Change in Working Capital	967.8	922.8	910.3	550.8	523.9	348.6

Source: S&P Global Market Intelligence. Standard template. Financial Sources.