Palo Alto Networks, Inc. (PANW)

Palo Alto Networks Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 31, 2025	Jul 31, 2024	Jul 31, 2023	Jul 31, 2022	Jul 31, 2021
Revenue	9,222	8,028	6,893	5,502	4,256
Revenue Growth (YoY)	14.87%	16.46%	25.29%	29.26%	24.87%
Cost of Revenue	2,452	2,059	1,910	1,719	1,275
Gross Profit	6,770	5,968	4,983	3,783	2,981
Selling, General & Admin	3,543	3,475	2,992	2,554	2,145
Research & Development	1,984	1,809	1,604	1,418	1,140
Total Operating Expenses	5,527	5,284	4,596	3,972	3,285
Operating Income	1,243	683.9	387.3	-188.8	-304.1
Interest Expense	-3	-8.3	-27.2	-27.4	-163.3
Other Non-Operating Income (Expense)	355.8	312.7	206.2	9	2.4
Total Non-Operating Income (Expense)	352.8	304.4	179	-18.4	-160.9
Pretax Income	1,596	988.3	566.3	-207.2	-465
Provision for Income Taxes	461.8	-1,589	126.6	59.8	33.9
Net Income	1,134	2,578	439.7	-267	-498.9
Net Income to Common	1,134	2,578	439.7	-267	-498.9
Net Income Growth	-56.01%	486.22%	-	-	-
Shares Outstanding (Basic)	663	639	606	591	578
Shares Outstanding (Diluted)	709	708	685	591	578
Shares Change (YoY)	0.20%	3.42%	15.78%	2.25%	-0.55%
EPS (Basic)	1.71	4.04	0.73	-0.45	-0.86
EPS (Diluted)	1.60	3.64	0.64	-0.45	-0.86
EPS Growth	-56.04%	468.75%	-	-	-
Free Cash Flow	3,470	3,101	2,631	1,792	1,387
Free Cash Flow Growth	11.90%	17.85%	46.84%	29.19%	68.88%
Free Cash Flow Per Share	4.89	4.38	3.84	3.03	2.40
Gross Margin	73.41%	74.35%	72.29%	68.76%	70.05%
Operating Margin	13.48%	8.52%	5.62%	-3.43%	-7.15%
Profit Margin	12.30%	32.11%	6.38%	-4.85%	-11.72%
FCF Margin	37.63%	38.63%	38.17%	32.57%	32.59%
EBITDA	2,092	1,412	1,087	531	454.8
EBITDA Margin	22.69%	17.59%	15.77%	9.65%	10.69%
EBIT	1,243	683.9	387.3	-188.8	-304.1
EBIT Margin	13.48%	8.52%	5.62%	-3.43%	-7.15%
Effective Tax Rate	28.94%	-160.81%	22.36%	-28.86%	-7.29%

Updated Aug 18, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q