PANW
Palo Alto Networks Inc Information Technology Computer Peripheral Equipment, NEC S&P 500Nasdaq-100Russell 3000
$365.87Close
$298.2BMarket cap
$141.67 – $419.9152-week range
Nov 18, 2026Next report
Highlights
Strengths
- Leading the market RS 94 · stronger than 94% of stocks over 12 months
Cautions
- Trend not confirmed 7 of 8 conditions · under the 50-day
- Earnings shrinking EPS −196% year on year
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
13%
1wk
down 3.9%
price change
1mo
down 7.9%
price change
12-month return
up 68%
market up 11% ·
its own up 58%
F-score
5 / 9
Mixed
Altman Z
8.87
Low risk
P/E
972.6×
price / earnings
PEG
—
P/E / EPS growth
P/B
10.8×
price / book
Earnings yield
up 0.2%
EBIT / enterprise value
Cheaper than
23%
of the market · expensive
Revenue growth
up 24%
year on year
EPS growth
down 196%
latest quarter · -36 pts
Sales growth
up 34%
latest quarter · +3 pts
ROE
up 2%
return on equity
Free cash margin
up 36%
$4.1B FCF
D/E
—
long-term debt / equity
Net debt / EBITDA
-1.6×
net cash
Interest cover
—EBIT / interest
Piotroski tests
- profitability slipped from last year
- short-term liquidity weakened
- issued more shares
- gross margin narrowed
- profitable on its assets
- generating cash from operations
- profits backed by cash
- reduced long-term debt
- assets working harder
Trade setup
ATR%
5.4%
$19.58 a day · 2×ATR $326.71
RS
94 / 99
vs the universe
Trend
7 / 8
under the 50-day
Relative volume
1.2×
vs 50-day average
Up/down volume
0.99
50 sessions
Implied move
13.5%
by Nov 20, 2026 · report Nov 18, 2026
Trend template · 7 of 8
- Price above the 50-day average: fails
Screen verdict
Did not qualify for any screen.
Warning signs
- Shareholders diluted The share count rose 22.0% over the year, from 668m to 815m shares. Each existing share owns a smaller fraction of the company than it did a year ago.
- Gross margin narrowing Gross margin fell from 73.4% to 70.4%. The company is keeping less of each dollar of sales than it did a year ago.
Last reported
Sep 1, 2026
Results reaction
Sep 1, 2026-14% vs market2 sessions after results
Options
$60.5M68.2% IV · activity
Financials
- Gross 70%
- Net 3%
- Free cash 36%
- Cash
- Long-term debt
| FY2021Jul 31, 2021 | FY2022Jul 31, 2022 | FY2023Jul 31, 2023 | FY2024Jul 31, 2024 | FY2025Jul 31, 2025 | FY2026Jul 31, 2026 | |
|---|---|---|---|---|---|---|
| Revenue | $4.3B | $5.5B | $6.9B | $8.0B | $9.2B | $11.5B |
| Gross margin | 70% | 69% | 72% | 74% | 73% | 70% |
| Operating income | -$304.1M | -$188.8M | $387.3M | $684.0M | $1.2B | $695.0M |
| Net income | -$498.9M | -$267.0M | $439.7M | $2.6B | $1.1B | $306.6M |
| Net margin | -12% | -5% | 6% | 32% | 12% | 3% |
| Earnings per share | -$0.86 | -$0.45 | $0.64 | $3.64 | $1.60 | $0.40 |
| Free cash flow | $1.4B | $1.8B | $2.6B | $3.1B | $3.5B | $4.1B |
| Free cash margin | 33% | 33% | 38% | 39% | 38% | 36% |
| Cash | $1.9B | $2.1B | $1.1B | $1.5B | $2.3B | $2.5B |
| Long-term debt | $3.2B | $3.7B | $2.0B | — | — | — |
| Shareholders' equity | $634.5M | $210.0M | $1.7B | $5.2B | $7.8B | $27.5B |
| Shares outstanding | 583.80m | 597.60m | 616.60m | 650.20m | 668m | 815m |
Next report
Nov 18, 2026
Expected move The move, either way, the option market prices in through the next scheduled report: the at-the-money straddle for the first expiry that contains it, over the price. It includes the days around the report, so it slightly overstates the report alone. Methodology
±13.5%
$316 – $415 by Nov 20, 2026
Usual move The median, over the company's last four reports, of how far the stock moved either way from the close before the filing to the close of the session after it. Methodology
±8.3%
last 4: -14.0% · -6.7% · -8.7% · -7.9%
Expected against usual The move the options price through this report over the move the last four reports delivered. Above 1 the event is priced bigger than the company's own record; below 1, smaller. A price, not a forecast: it says what protection through the report costs, not which way the stock will go. Methodology
Bigger than usual
1.6× the usual move
What options price now
- Expected 1-month range The at-the-money straddle for the expiry nearest a month out, as a share of the price: the move, either way, the option market is pricing by then. The range is the price plus and minus that move; the stock ends inside it a little more often than not. Methodology
- $310 – $421 ±15.2% by Nov 27, 2026
- Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
- Bigger 68.2% priced · 59.7% recent
- Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
- About the same
- Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
- past week: costs less
Positioning
- Premium traded
- $60.5M calls $30.8M · puts $29.7M · latest session
- 0.97× +0.88 over the week
- Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
- calls -9.71k · puts -27.81k past week
For options traders: ATM IV 68.2% (+7.1% 1w) · 1m ÷ 3m IV 1.03 · 25Δ skew 4.3 pts · Net GEX $19.3M
Most traded contracts
No contract passed the liquidity filters this week.
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Sep 10, 2026 | Annual ↗ | Jul 31, 2026 | 41d |
| Jun 3, 2026 | Quarterly ↗ | Apr 30, 2026 | 34d |
| Feb 18, 2026 | Quarterly ↗ | Jan 31, 2026 | 18d |
| Nov 20, 2025 | Quarterly ↗ | Oct 31, 2025 | 20d |
| Aug 29, 2025 | Annual ↗ | Jul 31, 2025 | 29d |
| May 21, 2025 | Quarterly ↗ | Apr 30, 2025 | 21d |
| Feb 14, 2025 | Quarterly ↗ | Jan 31, 2025 | 14d |
| Nov 21, 2024 | Quarterly ↗ | Oct 31, 2024 | 21d |
| Sep 6, 2024 | Annual ↗ | Jul 31, 2024 | 37d |
| May 21, 2024 | Quarterly ↗ | Apr 30, 2024 | 21d |
| Feb 21, 2024 | Quarterly ↗ | Jan 31, 2024 | 21d |
| Nov 17, 2023 | Quarterly ↗ | Oct 31, 2023 | 17d |
Current reports
| Filed | Disclosed |
|---|---|
| Sep 1, 2026 | Results ↗ |
| Aug 21, 2026 | Director or officer change · Charter or bylaws ↗ |
| Jun 2, 2026 | Results ↗ |
| Apr 13, 2026 | Material agreement · New obligation ↗ |
| Mar 23, 2026 | Other events ↗ |
| Mar 11, 2026 | Other events ↗ |
| Feb 17, 2026 | Results ↗ |
| Feb 11, 2026 | Material agreement · New obligation · Other events ↗ |
| Jan 29, 2026 | Regulation FD ↗ |
| Dec 11, 2025 | Director or officer change · Shareholder vote ↗ |
| Nov 21, 2025 | Other events ↗ |
| Nov 19, 2025 | Results · Regulation FD · Other events ↗ |