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Palo Alto Networks stock: growth
PANWPalo Alto Networks reported $11.48B in revenue for fiscal 2026, up 24.5% on the prior year, up 22% a year on average over up to five years.
Daily figure as of 13 Nov 2026
Revenue (Annual rate)
48.8%
per year from 2009 to 2026, per share 41.8%
Earnings (Annual rate)
no data
Free cash flow (Annual rate)
no data
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2021 | since 2016 | since 2009 | |
|---|---|---|---|
| Revenue | 22.0% | 23.6% | 48.8% |
| Revenue per share | 15.8% | 19.2% | 41.8% |
| Earnings | no data | no data | no data |
| Earnings per share | no data | no data | no data |
| Free cash flow | 24.3% | 21.5% | no data |
| Free cash flow per share | 18.0% | 17.2% | no data |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2009 | $13.35M | −$19.01M | −$14.57M |
| 2010 | $48.78M | −$21.13M | −$4.37M |
| 2011 | $118.6M | −$12.53M | $19.1M |
| 2012 | $255.14M | $737K | $62.8M |
| 2013 | $396.11M | −$29.25M | $92.08M |
| 2014 | $598.18M | −$226.45M | $52.3M |
| 2015 | $928.05M | −$164.98M | $316.48M |
| 2016 | $1.38B | −$225.9M | $585.6M |
| 2017 | $1.76B | −$216.6M | $705.1M |
| 2018 | $2.27B | −$147.9M | $925M |
| 2019 | $2.9B | −$81.9M | $924.4M |
| 2020 | $3.41B | −$267M | $821.3M |
| 2021 | $4.26B | −$498.9M | $1.39B |
| 2022 | $5.5B | −$267M | $1.79B |
| 2023 | $6.89B | $439.7M | $2.63B |
| 2024 | $8.03B | $2.58B | $3.1B |
| 2025 | $9.22B | $1.13B | $3.47B |
| 2026 | $11.48B | $307M | $4.11B |
Revenue by segment
How Palo Alto Networks, Inc. makes its money and how that has shifted. Names are as the company reports them.
- Subscription54%
- Support26%
- Product20%
Figures as a table
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Share 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Subscription | $1.03B | $1.41B | $1.9B | $2.54B | $3.34B | $4.19B | $4.97B | $6.24B | 54.3% |
| Support | $770.7M | $938.9M | $1.24B | $1.6B | $1.98B | $2.24B | $2.45B | $2.96B | 25.8% |
| Product | $1.1B | $1.06B | $1.12B | $1.36B | $1.58B | $1.6B | $1.8B | $2.28B | 19.9% |
| Total revenue | $2.9B | $3.41B | $4.26B | $5.5B | $6.89B | $8.03B | $9.22B | $11.48B | 100% |
Revenue by region
Where Palo Alto Networks, Inc. generates its revenue.
- Americas67%
- EMEA21%
- Asia Pacific12%
Figures as a table
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Share 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Americas | $1.24B | $1.56B | $1.98B | $2.33B | $2.94B | $3.8B | $4.72B | $5.48B | $6.21B | $7.68B | 66.9% |
| EMEA | $320.1M | $439.3M | $564.8M | $664.8M | $817.3M | $1.06B | $1.36B | $1.6B | $1.92B | $2.43B | 21.1% |
| Asia Pacific | $204.1M | $275.1M | $352.5M | $415.7M | $501.3M | $643.1M | $813.2M | $942.6M | $1.1B | $1.37B | 12% |
| Total revenue | $1.76B | $2.27B | $2.9B | $3.41B | $4.26B | $5.5B | $6.89B | $8.03B | $9.22B | $11.48B | 100% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2026, period end 31 Jul 2026
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 5 Jun 2026)
- Valuation signal Overvalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.