PANW
Palo Alto Networks, Inc.
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Palo Alto Networks, Inc..
Coverage
Johnson & Johnson's P/E Went 31 to 11 to 23 Without the Market Changing Its Mind. We Published a Chart Doing the Same Thing.
One outsized quarter distorts a trailing P/E twice — once when it arrives, and again four quarters later when it leaves. The second one is invisible, and our own Palo Alto coverage reasoned from it.
Our Own Explainer Says the Rule of 40 Captures Stock Compensation 'Not Perfectly'. Here Is How Imperfectly.
The four companies our Rule of 40 explainer holds up as the metric working properly pay between 14.5% and 21.5% of revenue in stock-based compensation. Subtract it and two of the four fall below 40. Between a third and four fifths of the free cash flow making up the profitability half of those scores is matched, in the same quarter, by stock issued to employees.
Palo Alto Beat on Everything. The Stock Dropped 6%.
Palo Alto Networks crushed Q2 estimates with $2.6B revenue, 33% NGS ARR growth, and $25B in acquisitions. Wall Street punished weak Q3 EPS guidance — but the revenue acceleration tells a different story.
Earnings release dates
| Quarter | End date | Publication date | Release |
|---|---|---|---|
| 2026 Q4 | 2026-07-31 | 2026-08-18 | Details → |
| 2026 Q3 | 2026-04-30 | 2026-05-20 | Details → |
| 2026 Q2 | 2026-01-31 | 2026-02-17 | Details → |
| 2026 Q1 | 2025-10-31 | 2025-11-19 | Details → |
| 2025 Q4 | 2025-07-31 | 2025-08-18 | Details → |
| 2025 Q3 | 2025-04-30 | 2025-05-20 | Details → |
| 2025 Q2 | 2025-01-31 | 2025-02-13 | Details → |
| 2025 Q1 | 2024-10-31 | 2024-11-20 | Details → |
| 2024 Q4 | 2024-07-31 | 2024-08-19 | Details → |
| 2024 Q3 | 2024-04-30 | 2024-05-20 | Details → |
| 2024 Q2 | 2024-01-31 | 2024-02-20 | Details → |
Company History
Founded by Nir Zuk (former Check Point/NetScreen engineer) in Santa Clara; focused on disrupting traditional firewalls with application-aware security.
Introduced pioneering NGFW; revolutionized network security by inspecting applications and content.
Debuted on NYSE raising ~$260M; marked transition to public company and positioned as high-growth cybersecurity player.
Acquired Cyvera (~$200M) for endpoint capabilities; co-founded Cyber Threat Alliance with peers to share intelligence.
Former Google/SoftBank executive joins as Chairman/CEO; accelerated platform strategy shifting to integrated security.
Introduced AI-based Cortex (security operations) and Prisma (cloud security); marked major expansion into broader platform ecosystem.
Key deals like Bridgecrew, Talon; built comprehensive offerings in SASE, XSIAM, and cloud; narrative evolved to 'platformization'.
Completed $3.35B Chronosphere deal for observability; overhauled NextWave program; pending CyberArk (~$25B) for identity; Q2 earnings February 17.
