Palo Alto Networks (PANW) Accumulated Expenses (2012 - 2026)
Palo Alto Networks (PANW) posted Accumulated Expenses of $838 million for fiscal Q4 2026 (quarter ended Jul 31, 2026), down 0.9% from $846 million a year earlier but up 10.3% from the prior quarter.
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Analysis
Palo Alto Networks (PANW) Accumulated Expenses (2012 - 2026) Analysis & Trends
Since fiscal Q4 2012, Palo Alto Networks has reported Accumulated Expenses for 57 quarters.
- Annual Accumulated Expenses shows a five-year compound annual growth rate of 20.5% (FY2021 to FY2026).
- In prior fiscal years, Palo Alto Networks' Accumulated Expenses was $846 million in FY2025 (+67.0%), $506.7 million in FY2024 (+29.7%), $390.8 million in FY2023 (-2.1%) and $399.2 million in FY2022 (+21.2%).
- Quarterly Accumulated Expenses has run from a low of $324 million in fiscal Q2 2022 to a high of $937 million in fiscal Q2 2026 over five years.
- On a year-over-year basis, Accumulated Expenses increased in five of the last eight quarters, with growth averaging 44.6%.
- The strongest year-over-year quarter for Accumulated Expenses in the past five years was fiscal Q3 2025, with growth of 99.9%; the weakest was fiscal Q3 2026, with a decline of 7.8%.
- According to Business Quant data, Accumulated Expenses for the three prior fiscal quarters was $760 million (Q3 2026), $937 million (Q2 2026) and $665 million (Q1 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Palo Alto Networks | 277.52 Bn | 262.59 Bn | 2.30 Bn |
| 2 | CrowdStrike Holdings | 249.50 Bn | 229.90 Bn | 1.10 Bn |
| 3 | Fortinet | 133.40 Bn | 119.33 Bn | 1.64 Bn |
| 4 | Snowflake | 117.12 Bn | 104.44 Bn | 1.04 Bn |
| 5 | Datadog | 94.86 Bn | 76.51 Bn | 881.34 Mn |
| 6 | Okta | 36.37 Bn | 26.46 Bn | 641.00 Mn |
| 7 | Zscaler | 35.35 Bn | 21.47 Bn | - |
| 8 | Axon Enterprise | 33.67 Bn | 28.19 Bn | 546.45 Mn |
| 9 | MongoDB | 29.54 Bn | 20.01 Bn | 569.77 Mn |
| 10 | F5 | 25.93 Bn | 20.34 Bn | 711.51 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 838.00 Mn |
| Apr 30, 2026 | 760.00 Mn |
| Jan 31, 2026 | 937.00 Mn |
| Oct 31, 2025 | 665.00 Mn |
| Jul 31, 2025 | 846.00 Mn |
| Apr 30, 2025 | 824.60 Mn |
| Jan 31, 2025 | 777.60 Mn |
| Oct 31, 2024 | 683.10 Mn |
| Jul 31, 2024 | 506.70 Mn |
| Apr 30, 2024 | 412.60 Mn |
| Jan 31, 2024 | 394.20 Mn |
| Oct 31, 2023 | 371.50 Mn |
| Jul 31, 2023 | 390.80 Mn |
| Apr 30, 2023 | 376.10 Mn |
| Jan 31, 2023 | 328.90 Mn |
| Oct 31, 2022 | 380.40 Mn |
| Jul 31, 2022 | 399.20 Mn |
| Apr 30, 2022 | 375.40 Mn |
| Jan 31, 2022 | 324.00 Mn |
| Oct 31, 2021 | 324.60 Mn |
API Access
Palo Alto Networks Accumulated Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=PANW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "accumulated-expenses", "ticker": "PANW", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=PANW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();