Palo Alto Networks, Inc. (TSX:PANW)

Palo Alto Networks Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jan 31, 2026	Jul 31, 2025	Jul 31, 2024	Jul 31, 2023	Jul 31, 2022	Jul 31, 2021
Net Income	1,282	1,134	2,578	439.7	-267	-498.9
Depreciation & Amortization	269.7	260.7	206.1	202.7	220.2	212.6
Other Amortization	599.4	564.4	526.7	499.6	431.7	488.7
Loss (Gain) From Sale of Investments	-67.1	-41.1	-60.1	-52.2	13.5	13.1
Stock-Based Compensation	1,351	1,295	1,075	1,075	1,011	894.5
Other Operating Activities	-111.8	-419.8	-1,978	62.4	51.3	44.4
Change in Accounts Receivable	-604.3	-345.3	-154.3	-320.3	-902	-172.4
Change in Accounts Payable	113.8	106.8	-15	1	69.3	-11.8
Change in Unearned Revenue	1,141	1,238	2,181	2,302	1,970	1,196
Change in Other Net Operating Assets	0.2	-76.8	-1,101	-1,432	-613.4	-663.3
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
Cash Acquisitions	-3,133	-1,054	-610.6	-204.5	-37	-777.3
Investment in Securities	1,930	-904.1	-742.5	-1,683	-703.6	-587.3
Investing Cash Flow	-1,612	-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)	-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
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	21.63%	11.90%	17.85%	46.84%	29.19%	68.88%
Free Cash Flow Margin	36.04%	37.63%	38.63%	38.17%	32.57%	32.59%
Free Cash Flow Per Share	5.01	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	2,805	3,386	2,565	2,107	1,374	1,722
Unlevered Free Cash Flow	2,805	3,387	2,566	2,118	1,384	1,682
Change in Working Capital	650.8	922.8	910.3	550.8	523.9	348.6

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