Palo Alto Networks, Inc. (PANW)
NASDAQ: PANW · Real-Time Price · USD
339.90
-11.00 (-3.13%)
At close: Aug 25, 2026, 4:00 PM EDT
337.99
-1.91 (-0.56%)
Pre-market: Aug 26, 2026, 7:28 AM EDT
Palo Alto Networks Cash Flow Statement
Financials in millions USD. Fiscal year is August - July.
Millions USD. Fiscal year is Aug - Jul.
Operating Activities
Fiscal Quarter | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Apr '26 Apr 30, 2026 | 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 |
Net Income | 842.9 | 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 |
Depreciation & Amortization | 515.7 | 269.7 | 265.7 | 260.7 | 257.9 | 244.2 | 225.8 | 206.1 | 197 | 195 | 196.3 | 202.7 | 185.5 | 222.1 | 221.9 | 220.2 | 280.5 | 252.2 | 258.1 | 212.6 |
Other Amortization | 629.4 | 599.4 | 580.4 | 564.4 | 544.1 | 536.2 | 530.2 | 526.7 | 524.5 | 516.6 | 507.3 | 499.6 | 467.9 | 455.6 | 442.8 | 431.7 | 440.4 | 459.3 | 475.5 | 488.7 |
Loss (Gain) From Sale of Investments | -59.1 | -67.1 | -33.1 | -41.1 | -48.6 | -55.2 | -60.4 | -60.1 | -64.3 | -68.8 | -68.6 | -52.2 | -31.4 | -8.1 | 11.6 | 13.5 | 14.4 | 14.5 | 14 | 13.1 |
Stock-Based Compensation | 1,668 | 1,351 | 1,370 | 1,295 | 1,210 | 1,147 | 1,099 | 1,075 | 1,061 | 1,068 | 1,080 | 1,075 | 1,060 | 1,036 | 1,018 | 1,011 | 1,002 | 987.3 | 947.8 | 894.5 |
Other Operating Activities | -26.8 | -111.8 | -290.8 | -419.8 | -574.8 | -582.2 | -2,106 | -1,978 | -1,757 | -1,630 | 62.4 | 62.4 | 96.4 | 56.4 | 53.8 | 51.3 | -0.1 | 25 | 12.6 | 44.4 |
Change in Accounts Receivable | -573.3 | -604.3 | -209.3 | -345.3 | -234.2 | 400.7 | 281.5 | -154.3 | -270.7 | -616.9 | -174.5 | -320.3 | -202.6 | -325.7 | -426 | -902 | -473.8 | -282.8 | -126.3 | -172.4 |
Change in Accounts Payable | 37.8 | 113.8 | 7.8 | 106.8 | 124.5 | -29.3 | 82.4 | -15 | 16.8 | 47.6 | 1.6 | 1 | -18.6 | 10.2 | 30.7 | 69.3 | 36.4 | 71.6 | 43.5 | -11.8 |
Change in Unearned Revenue | 1,227 | 1,141 | 1,132 | 1,238 | 1,377 | 1,415 | 1,618 | 2,181 | 2,075 | 2,261 | 2,263 | 2,302 | 2,230 | 2,104 | 2,021 | 1,970 | 1,484 | 1,287 | 1,194 | 1,196 |
Change in Other Net Operating Assets | -44.8 | 0.2 | 37.2 | -76.8 | -685.7 | -1,223 | -1,164 | -1,101 | -1,070 | -986.8 | -1,414 | -1,432 | -1,115 | -740.9 | -598.3 | -613.4 | -607.3 | -677.2 | -751.4 | -663.3 |
Operating Cash Flow | 4,217 | 3,974 | 3,977 | 3,716 | 3,208 | 3,109 | 3,242 | 3,258 | 3,159 | 3,062 | 3,067 | 2,778 | 2,887 | 2,845 | 2,633 | 1,985 | 1,787 | 1,675 | 1,557 | 1,503 |
Operating Cash Flow Growth (YoY) | 31.46% | 27.84% | 22.69% | 14.07% | 1.54% | 1.52% | 5.70% | 17.29% | 9.42% | 7.65% | 16.50% | 39.95% | 61.58% | 69.81% | 69.08% | 32.05% | 18.26% | 19.39% | 15.73% | 45.12% |
Investing Activities
Fiscal Quarter | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Apr '26 Apr 30, 2026 | 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 |
Capital Expenditures | -423.2 | -408.2 | -286.2 | -246.2 | -207.4 | -176.8 | -164 | -156.8 | -146.6 | -140.4 | -143.5 | -146.3 | -148.3 | -155.4 | -197.8 | -192.8 | -181 | -169.6 | -121 | -116 |
Cash Acquisitions | -5,118 | -3,133 | -556.4 | -1,054 | -499 | -499 | -1,111 | -610.6 | -610.6 | -629.5 | -204.5 | -204.5 | -224.1 | -205.2 | -19.6 | -37 | -17.4 | -164.2 | -569.6 | -777.3 |
Investment in Securities | 2,681 | 1,930 | -1,801 | -904.1 | -904.1 | -304.6 | -650.3 | -742.5 | -221.6 | -234.1 | -495 | -1,683 | -2,496 | -2,553 | -1,806 | -703.6 | -265.3 | -380.4 | -133.7 | -587.3 |
Investing Cash Flow | -2,861 | -1,612 | -2,644 | -2,205 | -1,611 | -980.4 | -1,925 | -1,510 | -978.8 | -1,004 | -843 | -2,034 | -2,869 | -2,914 | -2,023 | -933.4 | -463.7 | -714.2 | -824.3 | -1,481 |
Financing Activities
Fiscal Quarter | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Apr '26 Apr 30, 2026 | 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 |
Total Debt Issued | 10 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Long-Term Debt Repaid | - | - | - | -965.6 | - | - | - | -1,034 | - | - | - | -1,692 | - | - | - | -0.6 | - | - | - | -0.9 |
Total Debt Repaid | -382.6 | -533.6 | -646.6 | -965.6 | -782.6 | -1,293 | -1,307 | -1,034 | -2,526 | -1,864 | -1,738 | -1,692 | -0.6 | -0.6 | -0.6 | -0.6 | -0.9 | -0.9 | -0.9 | -0.9 |
Net Debt Issued (Repaid) | -372.6 | -533.6 | -646.6 | -965.6 | -782.6 | -1,293 | -1,307 | -1,034 | -2,526 | -1,864 | -1,738 | -1,692 | -0.6 | -0.6 | -0.6 | -0.6 | -0.9 | -0.9 | -0.9 | -0.9 |
Issuance of Common Stock | 273.5 | 350.5 | 379.5 | 370.5 | 385.2 | 298 | 318.5 | 283.9 | 319.8 | 334.3 | 277.5 | 258.8 | 199 | 146.2 | 145.6 | 136.6 | 136.6 | 117.1 | 117.3 | 104 |
Repurchase of Common Stock | -1,126 | -114.8 | -162.8 | -183.8 | -186.9 | -685.3 | -533.1 | -593.3 | -592.3 | -91 | -338.7 | -293.1 | -643 | -652.1 | -959.2 | -942.6 | -924.8 | -1,270 | -717.2 | -1,207 |
Other Financing Activities | -154 | -135 | -121 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -0.2 |
Financing Cash Flow | -1,379 | -432.9 | -550.9 | -778.9 | -584.3 | -1,681 | -1,521 | -1,343 | -2,799 | -1,621 | -1,799 | -1,726 | -444.6 | -506.5 | -814.2 | -806.6 | -789.1 | -1,154 | -600.8 | -1,104 |
Net Cash Flow
Fiscal Quarter | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Apr '26 Apr 30, 2026 | 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 |
Foreign Exchange Rate Adjustments | 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net Cash Flow | -20.6 | 1,929 | 782.4 | 732.4 | 1,013 | 447.5 | -204.6 | 404.6 | -618.4 | 437.2 | 424.6 | -982.6 | -426 | -575.5 | -205 | 244.7 | 534 | -193 | 131.9 | -1,082 |
Free Cash Flow
Fiscal Quarter | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Apr '26 Apr 30, 2026 | 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 |
Free Cash Flow | 3,794 | 3,566 | 3,691 | 3,470 | 3,000 | 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 |
Free Cash Flow Growth (YoY) | 26.45% | 21.63% | 19.93% | 11.90% | -0.40% | 0.34% | 5.28% | 17.85% | 9.99% | 8.65% | 20.07% | 46.84% | 70.56% | 78.62% | 69.55% | 29.19% | 15.48% | 23.08% | 25.02% | 68.88% |
Free Cash Flow Margin | 35.77% | 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% |
Free Cash Flow Per Share | 5.15 | 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 |
Levered Free Cash Flow | 3,579 | 2,859 | 3,034 | 3,386 | 3,175 | 3,308 | 3,116 | 2,565 | 2,568 | 2,255 | 2,401 | 2,107 | 1,980 | 2,095 | 1,904 | 1,374 | 1,705 | 1,734 | 1,835 | 1,722 |
Unlevered Free Cash Flow | 3,579 | 2,860 | 3,035 | 3,387 | 3,176 | 3,308 | 3,118 | 2,566 | 2,572 | 2,262 | 2,410 | 2,118 | 1,990 | 2,105 | 1,914 | 1,384 | 1,702 | 1,718 | 1,806 | 1,682 |
Additional Metrics
Fiscal Quarter | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Apr '26 Apr 30, 2026 | 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 |
Cash Interest Paid | 1.7 | 1.7 | 1.7 | 1.7 | 5.6 | 5.6 | 5.6 | 5.6 | 20.2 | 20.2 | 20.2 | 20.2 | 20.2 | 20.2 | 20.2 | 20.2 | 20 | 20 | 20 | 20 |
Cash Income Tax Paid | 505.5 | 505.5 | 505.5 | 505.5 | 342.3 | 342.3 | 342.3 | 342.3 | 147.1 | 147.1 | 147.1 | 147.1 | 34.6 | 34.6 | 34.6 | 34.6 | 24.9 | 24.9 | 24.9 | 24.9 |
Change in Working Capital | 646.8 | 650.8 | 967.8 | 922.8 | 581.5 | 563.7 | 817.7 | 910.3 | 750.7 | 704.5 | 676 | 550.8 | 893.5 | 1,048 | 1,028 | 523.9 | 439.7 | 398.3 | 359.3 | 348.6 |