Palo Alto Networks, Inc. (PANW) Financial Statements

Income statement

Metric	TTM	2026	2025	2024	2023
Revenue
Total Revenue	11.5B	11.5B	9.2B	8.0B	6.9B
Cost of Revenue	3.4B	3.4B	2.5B	2.1B	1.9B
Gross Profit	8.1B	8.1B	6.8B	6.0B	5.0B
Operating Expenses
R&D Expense	2.6B	2.6B	2.0B	1.8B	1.6B
SG&A Expense	4.8B	4.8B	3.5B	3.5B	3.0B
General & Admin Expense	899.0M	899.0M	442.7M	680.5M	447.7M
Selling & Marketing Expense	3.9B	3.9B	3.1B	2.8B	2.5B
Other Expenses	—	—	—	—	—
Total Operating Expenses	7.4B	7.4B	5.5B	5.3B	4.6B
Cost and Expenses	10.8B	10.8B	8.0B	7.3B	6.5B
Operating Income (EBIT)	695.0M	695.0M	1.2B	683.9M	387.3M
Non-Operating
Interest Income	—	—	363.5M	317.9M	224.4M
Interest Expense	—	—	3.0M	8.3M	27.2M
Net Interest Income	—	—	360.8M	309.6M	197.2M
Other Non-Op Income/Expense	(159.0M)	(159.0M)	352.8M	304.4M	179.0M
Non-Operating Income (excl Interest)	159.0M	159.0M	(354.7M)	(309.2M)	(199.5M)
EBT (Pre-Tax Income)	536.0M	536.0M	1.6B	988.3M	566.3M
Income Tax Expense	229.0M	229.0M	461.8M	(1.6B)	126.6M
Bottom Line
Net Income	307.0M	307.0M	1.1B	2.6B	439.7M
Earnings from Cont. Ops	307.0M	307.0M	1.1B	2.6B	439.7M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	307.0M	307.0M	1.1B	2.6B	439.7M
Per Share
Basic EPS	$0.46	$0.46	$1.71	$4.04	$0.73
Diluted EPS	$0.44	$0.44	$1.60	$3.64	$0.64
Revenue Per Share	$15.33	$15.33	$13.92	$12.57	$11.37
Shares
Basic Shares Outstanding	749.0M	749.0M	662.5M	638.4M	606.4M
Diluted Shares Outstanding	764.0M	764.0M	709.3M	708.0M	684.6M
Profitability Metrics
EBITDA	536.0M	536.0M	1.9B	1.3B	869.0M
D&A	—	—	343.4M	283.3M	282.2M
EBIT	536.0M	536.0M	1.6B	993.1M	586.8M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jul 1, 2026