Palo Alto Networks, Inc. (PANW) balance sheet
NASDAQ · Technology · Software - Infrastructure · 21,921 employees · CEO Nikesh Arora
- Price
- $365.87 -3.86%
- Market cap
- $299B
- Enterprise value
- $299B
- Last report
- Q4 '26 filed 2026-09-10
- Next report
- 2026-11-18 EPS est. $0.97
At the end of Q4 '26 Palo Alto Networks, Inc. (PANW) held $3.07B in cash and short-term investments against $2.5B of debt incl. leases. Total assets $48.5B, total liabilities $21B, shareholders' equity $27.5B.
Balance sheet
| Balance sheet | Trend | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||||
| Cash & equivalents | $2.49B | $1.78B | $1.38B | $1.54B | $2.28B | $2.23B | $2.38B | $2.28B | $3.08B | $4.16B | $2.36B | $2.51B | |
| Short-term investments | $1.4B | $1.59B | $1.52B | $1.04B | $1.11B | $1.01B | $917M | $635M | $1.14B | $378M | $747M | $557M | |
| Receivables | $1.86B | $2.34B | $2.29B | $3.34B | $1.94B | $2.25B | $2.69B | $3.68B | $2.08B | $2.12B | $3.44B | $4.22B | |
| Inventory | $329M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other current assets | $396M | $734M | $733M | $385M | $914M | $857M | $436M | $521M | $596M | $1.1B | $454M | $1.35B | |
| Current assets | $6.48B | $6.45B | $5.92B | $6.85B | $6.24B | $6.34B | $6.9B | $7.1B | $6.9B | $8.37B | $7.71B | $8.64B | |
| Property, plant & equipment (net) | $627M | $708M | $720M | $747M | $750M | $731M | $724M | $734M | $747M | $485M | $1.18B | $1.22B | |
| Long-term investments | $2.99B | $3.62B | $3.5B | $4.17B | $4.12B | $4.56B | $5.15B | $6.56B | $6.84B | $3.36B | $4.66B | $4.84B | |
| Goodwill | $2.93B | $3.37B | $3.37B | $3.35B | $4.05B | $4.05B | $4.05B | $4.57B | $4.57B | $6.93B | $21.9B | $22B | |
| Intangible assets | $291M | $440M | $408M | $375M | $810M | $771M | $730M | $763M | $723M | $1.25B | $7.28B | $7.02B | |
| Deferred tax assets | $1.16B | $2.23B | $2.29B | $2.4B | $2.4B | $2.45B | $0 | $2.42B | $2.42B | $2.39B | $2.38B | $2.44B | |
| Other non-current assets | $343M | $1.47B | $1.72B | $2.1B | $2B | $2.05B | $4.45B | $1.43B | $1.35B | $2.19B | $585M | $2.29B | |
| Non-current assets | $8.33B | $11.8B | $12B | $13.1B | $14.1B | $14.6B | $15.1B | $16.5B | $16.6B | $16.6B | $38B | $39.8B | |
| Total assets | $14.8B | $18.3B | $17.9B | $20B | $20.4B | $21B | $22B | $23.6B | $23.5B | $25B | $46.3B | $48.5B | |
| Liabilities | |||||||||||||
| Accounts payable | $132M | $179M | $109M | $116M | $212M | $149M | $235M | $232M | $223M | $262M | $293M | $290M | |
| Accrued expenses | $331M | $453M | $386M | $507M | $683M | $492M | $900M | $608M | $398M | $562M | $760M | $1.89B | |
| Short-term debt | $1.95B | $1.82B | $1.16B | $964M | $646M | $534M | $383M | $79.2M | $0 | $0 | $160M | $0 | |
| Deferred revenue | $4.73B | $4.92B | $5.01B | $5.54B | $5.51B | $5.6B | $0 | $6.3B | $6.13B | $6.25B | $7.11B | $7.75B | |
| Other current liabilities | $372M | $394M | $413M | $555M | $355M | $778M | $6.11B | $767M | $665M | $937M | $680M | $0 | |
| Current liabilities | $7.51B | $7.77B | $7.08B | $7.68B | $7.4B | $7.55B | $7.71B | $7.99B | $7.42B | $8.01B | $9.01B | $9.92B | |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $346M | $0 | $1.19B | $1.77B | |
| Lease obligations (non-current) | $276M | $363M | $370M | $381M | $380M | $363M | $346M | $338M | $346M | $372M | $719M | $726M | |
| Deferred revenue (non-current) | $4.71B | $4.9B | $5.15B | $5.94B | $5.59B | $5.66B | $5.82B | $6.45B | $6.1B | $6.18B | $6.49B | $7.01B | |
| Deferred tax liabilities | $0 | $589M | $503M | $388M | $251M | $116M | $26.2M | $89.1M | $96M | $75M | $259M | $251M | |
| Other non-current liabilities | $138M | $318M | $353M | $431M | $844M | $883M | $878M | $887M | $567M | $949M | $930M | $1.29B | |
| Non-current liabilities | $5.12B | $6.17B | $6.38B | $7.14B | $7.06B | $7.02B | $7.07B | $7.76B | $7.45B | $7.58B | $9.59B | $11B | |
| Total liabilities | $12.6B | $13.9B | $13.5B | $14.8B | $14.5B | $14.6B | $14.8B | $15.8B | $14.9B | $15.6B | $18.6B | $21B | |
| Equity | |||||||||||||
| Common stock & paid-in capital | $3.3B | $3.65B | $3.53B | $3.82B | $4.21B | $4.42B | $4.95B | $5.29B | $5.78B | $6.1B | $24.6B | $24.8B | |
| Retained earnings | -$1.03B | $714M | $993M | $1.35B | $1.7B | $1.97B | $2.23B | $2.48B | $2.82B | $3.25B | $3.07B | $2.79B | |
| Accumulated other comprehensive income | -$93M | -$6.5M | -$55.4M | -$1.6M | -$4M | -$13.9M | $48M | $48.4M | $67M | $46M | -$13M | -$71M | |
| Shareholders' equity | $2.17B | $4.36B | $4.47B | $5.17B | $5.91B | $6.38B | $7.23B | $7.82B | $8.67B | $9.39B | $27.7B | $27.5B | |
| Debt | |||||||||||||
| Total debt (incl. leases) | $2.22B | $2.18B | $1.53B | $1.34B | $1.03B | $897M | $806M | $417M | $692M | $372M | $2.07B | $2.5B | |
| Net debt (debt - cash) | -$269M | $402M | $150M | -$191M | -$1.26B | -$1.33B | -$1.58B | -$1.86B | -$2.38B | -$3.79B | -$293M | -$14M | |
| Balance sheet | Trend | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & equivalents | $744M | $2.51B | $961M | $2.96B | $1.87B | $2.12B | $1.14B | $1.54B | $2.27B | $2.51B | |
| Short-term investments | $631M | $897M | $1.84B | $790M | $1.03B | $1.52B | $1.25B | $1.04B | $635M | $557M | |
| Receivables | $432M | $467M | $582M | $1.04B | $1.24B | $2.25B | $2.85B | $3.34B | $3.68B | $4.22B | |
| Other current assets | $0 | $0 | $0 | $222M | $365M | $318M | $339M | $385M | $521M | $1.35B | |
| Current assets | $1.98B | $4.13B | $3.66B | $5.13B | $4.65B | $6.41B | $6.05B | $6.85B | $7.1B | $8.64B | |
| Property, plant & equipment (net) | $211M | $273M | $296M | $607M | $581M | $600M | $618M | $747M | $734M | $1.22B | |
| Long-term investments | $789M | $548M | $575M | $554M | $888M | $1.05B | $3.05B | $4.17B | $6.56B | $4.84B | |
| Goodwill | $239M | $523M | $1.35B | $1.81B | $2.71B | $2.75B | $2.93B | $3.35B | $4.57B | $22B | |
| Intangible assets | $53.7M | $141M | $281M | $358M | $499M | $385M | $315M | $375M | $763M | $7.02B | |
| Deferred tax assets | $0 | $0 | $0 | $0 | $495M | $0 | $1.2B | $2.4B | $2.42B | $2.44B | |
| Other non-current assets | $169M | $207M | $423M | $604M | $421M | $1.05B | $345M | $2.1B | $1.43B | $2.29B | |
| Non-current assets | $1.46B | $1.69B | $2.93B | $3.94B | $5.59B | $5.84B | $8.45B | $13.1B | $16.5B | $39.8B | |
| Total assets | $3.44B | $5.82B | $6.59B | $9.07B | $10.2B | $12.3B | $14.5B | $20B | $23.6B | $48.5B | |
| Liabilities | |||||||||||
| Accounts payable | $35.5M | $49.4M | $73.3M | $63.6M | $56.9M | $128M | $132M | $116M | $232M | $290M | |
| Accrued expenses | $118M | $125M | $236M | $257M | $329M | $399M | $391M | $507M | $608M | $1.89B | |
| Short-term debt | $0 | $550M | $0 | $0 | $1.56B | $3.68B | $1.99B | $964M | $0 | $0 | |
| Deferred revenue | $968M | $1.21B | $1.58B | $2.05B | $2.74B | $3.64B | $4.67B | $5.54B | $6.3B | $7.75B | |
| Other current liabilities | $79.9M | $201M | $162M | $322M | $431M | $461M | $548M | $555M | $846M | $0 | |
| Current liabilities | $1.2B | $2.14B | $2.05B | $2.69B | $5.12B | $8.31B | $7.74B | $7.68B | $7.99B | $9.92B | |
| Long-term debt | $525M | $1.37B | $1.43B | $3.08B | $1.67B | $0 | $0 | $0 | $0 | $1.77B | |
| Lease obligations (non-current) | $0 | $0 | $0 | $337M | $313M | $276M | $279M | $381M | $338M | $726M | |
| Deferred revenue (non-current) | $805M | $1.1B | $1.31B | $1.76B | $2.28B | $3.35B | $4.62B | $5.94B | $6.45B | $7.01B | |
| Deferred tax liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $28.1M | $388M | $89.1M | $251M | |
| Other non-current liabilities | $148M | $230M | $216M | $90.1M | $97.7M | $108M | $86.1M | $431M | $887M | $1.29B | |
| Non-current liabilities | $1.48B | $2.7B | $2.95B | $5.27B | $4.36B | $3.74B | $5.02B | $7.14B | $7.76B | $11B | |
| Total liabilities | $2.68B | $4.83B | $5.01B | $7.96B | $9.48B | $12B | $12.8B | $14.8B | $15.8B | $21B | |
| Equity | |||||||||||
| Common stock & paid-in capital | $1.6B | $1.97B | $2.49B | $2.26B | $2.31B | $1.93B | $3.02B | $3.82B | $5.29B | $24.8B | |
| Retained earnings | -$837M | -$985M | -$901M | -$1.17B | -$1.67B | -$1.67B | -$1.23B | $1.35B | $2.48B | $2.79B | |
| Accumulated other comprehensive income | -$3.4M | -$16.4M | -$3.7M | $10.5M | -$9.9M | -$55.6M | -$43.2M | -$1.6M | $48.4M | -$71M | |
| Shareholders' equity | $760M | $988M | $1.59B | $1.1B | $764M | $210M | $1.75B | $5.17B | $7.82B | $27.5B | |
| Debt | |||||||||||
| Total debt (incl. leases) | $525M | $1.92B | $1.43B | $3.42B | $3.54B | $3.95B | $2.27B | $1.34B | $338M | $2.5B | |
| Net debt (debt - cash) | -$220M | -$587M | $469M | $463M | $1.67B | $1.83B | $1.14B | -$191M | -$1.93B | -$14M | |
Standardised by Financial Modeling Prep from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Cash, investments and debt
quarter endsThe other statements
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-K 2026-07-31, 10-Q 2026-04-30, 10-Q 2026-01-31, 10-Q 2025-10-31, 10-K 2025-07-31, 10-Q 2025-04-30, 10-Q 2025-01-31, 10-Q 2024-10-31, 10-K 2024-07-31
Data as of 2026-11-01