Palo Alto Networks, Inc. (PANW)
NASDAQ: PANW · Real-Time Price · USD
148.70
-2.29 (-1.52%)
At close: Feb 20, 2026, 4:00 PM EST
149.00
+0.30 (0.20%)
After-hours: Feb 20, 2026, 7:59 PM EST
Palo Alto Networks Income Statement
Financials in millions USD. Fiscal year is August - July.
Millions USD. Fiscal year is Aug - Jul.
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jan '26 Jan 31, 2026 | Oct '25 Oct 31, 2025 | Jul '25 Jul 31, 2025 | Apr '25 Apr 30, 2025 | Jan '25 Jan 31, 2025 | Oct '24 Oct 31, 2024 | Jul '24 Jul 31, 2024 | Apr '24 Apr 30, 2024 | Jan '24 Jan 31, 2024 | Oct '23 Oct 31, 2023 | Jul '23 Jul 31, 2023 | Apr '23 Apr 30, 2023 | Jan '23 Jan 31, 2023 | Oct '22 Oct 31, 2022 | Jul '22 Jul 31, 2022 | Apr '22 Apr 30, 2022 | Jan '22 Jan 31, 2022 | Oct '21 Oct 31, 2021 | Jul '21 Jul 31, 2021 | Apr '21 Apr 30, 2021 |
| 9,894 | 9,557 | 9,222 | 8,875 | 8,570 | 8,288 | 8,028 | 7,791 | 7,527 | 7,207 | 6,893 | 6,490 | 6,156 | 5,818 | 5,502 | 5,170 | 4,858 | 4,558 | 4,256 | 3,987 | |
Revenue Growth (YoY) | 15.44% | 15.30% | 14.87% | 13.90% | 13.86% | 15.00% | 16.46% | 20.05% | 22.28% | 23.89% | 25.29% | 25.52% | 26.73% | 27.65% | 29.26% | 29.67% | 28.41% | 27.22% | 24.87% | 22.16% |
Cost of Revenue | 2,622 | 2,536 | 2,452 | 2,346 | 2,240 | 2,140 | 2,059 | 1,992 | 1,954 | 1,921 | 1,910 | 1,895 | 1,861 | 1,800 | 1,719 | 1,585 | 1,475 | 1,378 | 1,275 | 1,206 |
Gross Profit | 7,272 | 7,021 | 6,770 | 6,529 | 6,330 | 6,148 | 5,968 | 5,799 | 5,574 | 5,287 | 4,983 | 4,595 | 4,295 | 4,018 | 3,783 | 3,585 | 3,382 | 3,180 | 2,981 | 2,781 |
Selling, General & Admin | 4,055 | 3,873 | 3,717 | 3,478 | 3,364 | 3,345 | 3,271 | 3,194 | 3,111 | 3,058 | 2,992 | 2,892 | 2,777 | 2,658 | 2,554 | 2,470 | 2,375 | 2,280 | 2,145 | 2,005 |
Research & Development | 2,037 | 2,031 | 1,984 | 1,975 | 1,938 | 1,881 | 1,809 | 1,729 | 1,686 | 1,642 | 1,604 | 1,553 | 1,495 | 1,450 | 1,418 | 1,379 | 1,335 | 1,243 | 1,140 | 1,031 |
Operating Expenses | 6,092 | 5,904 | 5,701 | 5,453 | 5,302 | 5,226 | 5,080 | 4,923 | 4,796 | 4,700 | 4,596 | 4,446 | 4,272 | 4,108 | 3,972 | 3,850 | 3,710 | 3,522 | 3,285 | 3,036 |
Operating Income | 1,180 | 1,117 | 1,069 | 1,075 | 1,028 | 922.1 | 888.3 | 875.8 | 777.8 | 587.3 | 387.3 | 149.2 | 22.9 | -90.9 | -188.8 | -264.6 | -327.4 | -342.3 | -304.1 | -255.5 |
Interest Expense | -1 | -2 | -3 | -3 | -4.6 | -6.4 | -8.3 | -13.7 | -19.2 | -23.3 | -27.2 | -28.4 | -27.4 | -27.3 | -27.4 | -61.9 | -96.1 | -130 | -163.3 | -153.3 |
Interest & Investment Income | 404.5 | 382.5 | 363.5 | 348.9 | 334.4 | 332.7 | 317.9 | 307.3 | 294.9 | 266.2 | 224.4 | 167.5 | 98.3 | 43.6 | 15.6 | 8.5 | 11.8 | 9.9 | 8.5 | 3.4 |
Currency Exchange Gain (Loss) | -53.8 | -35.8 | -32.8 | -16.9 | -4.4 | -12.9 | 0.2 | 0.1 | -6.4 | -7.2 | -7.9 | -3.3 | 4.5 | 10.1 | 1.8 | -5.4 | -11 | -9.3 | -5.4 | -4.9 |
Other Non Operating Income (Expenses) | 92.1 | 29.1 | 25.1 | 9.3 | -4.3 | 5.6 | -5.4 | -6.9 | -4.7 | -8.5 | -10.3 | -17.9 | -14.7 | -17.1 | -8.4 | -3.4 | -2 | -2.2 | -0.7 | 5.2 |
EBT Excluding Unusual Items | 1,622 | 1,491 | 1,422 | 1,414 | 1,349 | 1,241 | 1,193 | 1,163 | 1,042 | 814.5 | 566.3 | 267.1 | 83.6 | -81.6 | -207.2 | -326.8 | -424.7 | -473.9 | -465 | -405.1 |
Merger & Restructuring Charges | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -6 |
Legal Settlements | 80.8 | -5.2 | 38.8 | -70.9 | -69.6 | -161.4 | -204.4 | -176.8 | -176.8 | - | - | - | - | - | - | - | - | - | - | - |
Other Unusual Items | 161.3 | 154.3 | 135.3 | -20.3 | -16 | -6 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Pretax Income | 1,864 | 1,640 | 1,596 | 1,323 | 1,263 | 1,074 | 988.3 | 985.8 | 865.6 | 814.5 | 566.3 | 267.1 | 83.6 | -81.6 | -207.2 | -326.8 | -424.7 | -473.9 | -465 | -411.1 |
Income Tax Expense | 581.8 | 522.8 | 461.8 | 84.7 | 8.7 | -1,661 | -1,589 | -1,462 | -1,411 | 200.6 | 126.6 | 51.8 | 49.3 | 61.8 | 59.8 | 62.8 | 36.8 | 36.4 | 33.9 | 27.4 |
Net Income | 1,282 | 1,117 | 1,134 | 1,238 | 1,255 | 2,734 | 2,578 | 2,448 | 2,277 | 613.9 | 439.7 | 215.3 | 34.3 | -143.4 | -267 | -389.6 | -461.5 | -510.3 | -498.9 | -438.5 |
Net Income to Common | 1,282 | 1,117 | 1,134 | 1,238 | 1,255 | 2,734 | 2,578 | 2,448 | 2,277 | 613.9 | 439.7 | 215.3 | 34.3 | -143.4 | -267 | -389.6 | -461.5 | -510.3 | -498.9 | -438.5 |
Net Income Growth | 2.18% | -59.15% | -56.01% | -49.43% | -44.90% | 345.41% | 486.22% | 1036.83% | 6537.32% | - | - | - | - | - | - | - | - | - | - | - |
Shares Outstanding (Basic) | 682 | 669 | 663 | 657 | 652 | 647 | 639 | 630 | 620 | 612 | 606 | 602 | 599 | 595 | 591 | 588 | 585 | 582 | 578 | 576 |
Shares Outstanding (Diluted) | 711 | 709 | 709 | 708 | 709 | 710 | 708 | 708 | 703 | 690 | 685 | 656 | 633 | 595 | 591 | 588 | 585 | 582 | 578 | 576 |
Shares Change (YoY) | 0.36% | -0.13% | 0.20% | -0.03% | 0.78% | 2.89% | 3.42% | 7.95% | 11.19% | 16.09% | 15.78% | 11.62% | 8.12% | 2.24% | 2.25% | 2.00% | 1.56% | 0.32% | -0.55% | -0.78% |
EPS (Basic) | 1.88 | 1.67 | 1.71 | 1.88 | 1.92 | 4.23 | 4.04 | 3.89 | 3.67 | 1.00 | 0.73 | 0.36 | 0.06 | -0.24 | -0.45 | -0.66 | -0.79 | -0.88 | -0.86 | -0.76 |
EPS (Diluted) | 1.80 | 1.58 | 1.60 | 1.74 | 1.77 | 3.84 | 3.64 | 3.46 | 3.23 | 0.89 | 0.64 | 0.33 | 0.05 | -0.24 | -0.45 | -0.66 | -0.79 | -0.88 | -0.86 | -0.76 |
EPS Growth | 1.65% | -58.87% | -56.04% | -49.66% | -45.17% | 332.06% | 468.75% | 939.97% | 5808.52% | - | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | 3,566 | 3,691 | 3,470 | 3,001 | 2,932 | 3,078 | 3,101 | 3,012 | 2,922 | 2,923 | 2,631 | 2,739 | 2,689 | 2,435 | 1,792 | 1,606 | 1,506 | 1,436 | 1,387 | 1,391 |
Free Cash Flow Per Share | 5.01 | 5.20 | 4.89 | 4.24 | 4.14 | 4.33 | 4.38 | 4.25 | 4.16 | 4.24 | 3.84 | 4.17 | 4.25 | 4.09 | 3.03 | 2.73 | 2.57 | 2.47 | 2.40 | 2.41 |
Gross Margin | 73.50% | 73.47% | 73.41% | 73.56% | 73.86% | 74.18% | 74.35% | 74.43% | 74.05% | 73.35% | 72.29% | 70.80% | 69.77% | 69.06% | 68.76% | 69.34% | 69.63% | 69.77% | 70.05% | 69.74% |
Operating Margin | 11.92% | 11.69% | 11.59% | 12.12% | 11.99% | 11.13% | 11.07% | 11.24% | 10.33% | 8.15% | 5.62% | 2.30% | 0.37% | -1.56% | -3.43% | -5.12% | -6.74% | -7.51% | -7.14% | -6.41% |
Profit Margin | 12.96% | 11.69% | 12.30% | 13.95% | 14.64% | 32.99% | 32.11% | 31.41% | 30.24% | 8.52% | 6.38% | 3.32% | 0.56% | -2.46% | -4.85% | -7.54% | -9.50% | -11.20% | -11.72% | -11.00% |
Free Cash Flow Margin | 36.04% | 38.62% | 37.63% | 33.81% | 34.21% | 37.13% | 38.63% | 38.66% | 38.82% | 40.56% | 38.17% | 42.20% | 43.69% | 41.85% | 32.57% | 31.06% | 30.99% | 31.51% | 32.59% | 34.87% |
EBITDA | 1,450 | 1,383 | 1,330 | 1,333 | 1,272 | 1,148 | 1,094 | 1,073 | 972.8 | 783.6 | 590 | 372.2 | 245 | 131 | 31.4 | -33.5 | -99 | -118.7 | -91.5 | -34.7 |
EBITDA Margin | 14.65% | 14.47% | 14.42% | 15.02% | 14.84% | 13.85% | 13.63% | 13.77% | 12.92% | 10.87% | 8.56% | 5.73% | 3.98% | 2.25% | 0.57% | -0.65% | -2.04% | -2.60% | -2.15% | -0.87% |
D&A For EBITDA | 269.7 | 265.7 | 260.7 | 258 | 244.2 | 225.8 | 206.1 | 197 | 195 | 196.3 | 202.7 | 223 | 222.1 | 221.9 | 220.2 | 231.1 | 228.4 | 223.6 | 212.6 | 220.8 |
EBIT | 1,180 | 1,117 | 1,069 | 1,075 | 1,028 | 922.1 | 888.3 | 875.8 | 777.8 | 587.3 | 387.3 | 149.2 | 22.9 | -90.9 | -188.8 | -264.6 | -327.4 | -342.3 | -304.1 | -255.5 |
EBIT Margin | 11.92% | 11.69% | 11.59% | 12.12% | 11.99% | 11.13% | 11.07% | 11.24% | 10.33% | 8.15% | 5.62% | 2.30% | 0.37% | -1.56% | -3.43% | -5.12% | -6.74% | -7.51% | -7.14% | -6.41% |
Effective Tax Rate | 31.22% | 31.88% | 28.94% | 6.40% | 0.69% | - | - | - | - | 24.63% | 22.36% | 19.39% | 58.97% | - | - | - | - | - | - | - |
Revenue as Reported | 9,894 | 9,557 | 9,222 | 8,875 | 8,570 | 8,288 | 8,028 | 7,791 | 7,527 | 7,207 | 6,893 | 6,490 | 6,156 | 5,818 | 5,502 | 5,170 | 4,858 | 4,558 | 4,256 | 3,987 |
Updated Feb 17, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.