Palo Alto Networks, Inc. (PANW) - Company Profile - 2026-04-20
Company Overview
Palo Alto Networks, Inc. (PANW) is a U.S.-based cybersecurity software company with global operations. As of 2026, it employs about 17,027 people and is headquartered in Santa Clara, California. The company develops and delivers a suite of security platforms and services for enterprise, service provider, and government customers, with a presence across the Americas, Europe, the Middle East and Africa, and the Asia Pacific / Japan region. The report date for this profile is 2026-04-20.
Business and Operations
Palo Alto Networks offers a broad, cloud- and on-premises security portfolio designed to protect users, endpoints, networks, and data across multi-cloud and hybrid environments. Key product lines include Prisma Access (secure access service edge), Strata Cloud Manager (network security management), and Prisma AIRS (AI-based protections for AI ecosystems). The company provides a cloud-native application protection platform, Code to Cloud capabilities, and inline network security via VM-Series and CN-Series firewalls. Its Cortex platform comprises XSIAM (AI-driven security operations), XDR (prevention, detection, response), XSOAR (security orchestration, automation, response), and Xpanse (attack surface management), along with threat intelligence and advisory services under Unit 42. Subscriptions cover threat prevention, malware, URL filtering, device protection, DNS security, IoT security, SaaS security API and inline protections, data loss prevention, and more. Professional services (architecture design, implementation, firewall migration), education (certifications, training), and support services complement the portfolio. The company sells through channel partners and direct to enterprises, service providers, and government entities across multiple industries, including education, energy, financial services, healthcare, manufacturing, telecommunications, and public sector.
Fundamental Metrics
- Market cap: $136.97B
- Enterprise value: $132.89B
- P/E (trailing): 93.25
- P/E (forward): 42.30
- P/B: 12.56
- P/S: 13.84
- PEG: 2.82
- Profit margin: 12.96%
- Operating margin: 15.50%
- ROE: 16.26%
- ROA: 3.45%
- Debt/Equity: 4.89
- Current ratio: 1.04
- Revenue (TTM): $9.89B
- Revenue growth (YoY): 14.90%
- Earnings growth (YoY): 60.50%
- Free cash flow: $2.86B
- Dividend yield: n/a
- Payout ratio: 0.00%
- Beta: 0.77
Share Structure and Ownership
- Shares outstanding: 811,000,000
- Float: 809,145,600
- Insider held: 0.79%
- Institutional held: 74.35%
- Short ratio (days to cover): 3.30
- Short % of float: 3.32%
Top institutional holders:
- Vanguard Group Inc: 69.74% of shares
- BlackRock Inc.: 61.15% of shares
- Morgan Stanley: 31.27% of shares
- State Street Corporation: 31.14% of shares
- Bank of America Corporation: 19.89% of shares
Trading Activity
- Last close: $167.85 (2026-04-17)
- 30-day average volume: 8,099,283
- 90-day average volume: 9,272,692
Recent Price Action
- 1-month change: -0.63%
- 3-month change: -12.05%
- YTD change: -6.42%
- 1-year change: +4.87%
- 52-week high: $223.61
- 52-week low: $139.57
- [Drawdown](https://aksoycapital.com/glossary/drawdown.html) from 52-week high: -24.94%
Strengths
- Broad, multi-platform cybersecurity portfolio spanning Prisma, Strata, Cortex, and Unit 42 offerings.
- Global reach with diversified customer base across multiple industries.
- Large-scale recurring revenue potential through subscription services (security platforms and threat intelligence).
- Notable profitability indicators among platform components, with operating margin at 15.50% and profit margin at 12.96%.
- Positive earnings growth YoY (60.50%) alongside revenue growth YoY (14.90%).
- Substantial free cash flow generation ($2.86B), supporting balance sheet flexibility.
- Significant institutional ownership, indicating broad coverage by large investors.
Considerations
- [Valuation multiples](https://aksoycapital.com/glossary/valuation-multiples.html) are elevated (P/E trailing 93.25; P/S 13.84; P/B 12.56; PEG 2.82).
- Leverage appears high with Debt/Equity at 4.89.
- Revenue and earnings growth metrics imply high growth expectations priced into the stock.
- Dividend yield is n/a and payout ratio is 0.00%.
- Short interest metrics are modest (short ratio 3.30 days to cover; short % of float 3.32%).
- Ownership appears concentrated among a few large institutions (top holders hold a substantial percentage of shares), which may influence trading dynamics.
Summary
Palo Alto Networks, Inc. is a U.S.-based cybersecurity software company with a comprehensive portfolio across cloud and network security, security operations, and threat intelligence. The company reports a TTM revenue of $9.89B with YoY growth of 14.90% and free cash flow of $2.86B, supported by operating margins around 15% and a 16% return on equity. Trading indicators show a last close near $167.85 (as of 2026-04-17) with a 52-week high of $223.61 and a low of $139.57, and a historically high valuation multiple context. Institutional ownership is prominent, and the stock shows moderate liquidity with 30- to 90-day average volumes in the millions. The report reflects neutral, data-driven observations as of 2026-04-20.