Palo Alto Networks, Inc. (PANW)

Palo Alto Networks Income Statement

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

Year	2023	2022	2021	2020	2019
Revenue	6,893	5,502	4,256	3,408	2,900
Revenue Growth (YoY)	25.29%	29.26%	24.87%	17.55%	27.53%
Cost of Revenue	1,910	1,719	1,275	999.5	808.4
Gross Profit	4,983	3,783	2,981	2,409	2,091
Selling, General & Admin	2,992	2,554	2,145	1,820	1,606
Research & Development	1,604	1,418	1,140	768.1	539.5
Operating Expenses	4,596	3,972	3,285	2,588	2,145
Operating Income	387.3	-188.8	-304.1	-179	-54.1
Interest Expense / Income	27.2	27.4	163.3	88.7	83.9
Other Expense / Income	-206.2	-9	-2.4	-35.9	-63.4
Pretax Income	566.3	-207.2	-465	-231.8	-74.6
Income Tax	126.6	59.8	33.9	35.2	7.3
Net Income	439.7	-267	-498.9	-267	-81.9
Shares Outstanding (Basic)	303	296	289	291	284
Shares Outstanding (Diluted)	342	296	289	291	284
Shares Change	15.80%	2.25%	-0.55%	2.54%	3.05%
EPS (Basic)	1.45	-0.90	-1.73	-0.92	-0.29
EPS (Diluted)	1.28	-0.90	-1.73	-0.92	-0.29
Free Cash Flow	2,631	1,792	1,387	821.3	924.4
Free Cash Flow Per Share	8.68	6.06	4.80	2.83	3.26
Gross Margin	72.29%	68.76%	70.05%	70.68%	72.12%
Operating Margin	5.62%	-3.43%	-7.15%	-5.25%	-1.87%
Profit Margin	6.38%	-4.85%	-11.72%	-7.83%	-2.82%
Free Cash Flow Margin	38.17%	32.57%	32.59%	24.10%	31.88%
Effective Tax Rate	22.36%	-	-	-	-
EBITDA	925.6	157.2	3.2	110.4	163.1
EBITDA Margin	13.43%	2.86%	0.08%	3.24%	5.62%
Depreciation & Amortization	332.1	337	304.9	253.5	153.8
EBIT	593.5	-179.8	-301.7	-143.1	9.3
EBIT Margin	8.61%	-3.27%	-7.09%	-4.20%	0.32%

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).