Palo Alto Networks (PANW) EV to FCF (2012 - 2026)

Palo Alto Networks' (PANW) quarterly EV to FCF came in at 65.01 in Q3 2026, up 99.46% year-over-year from 32.59 in Q3 2025, and up 72.82% on a QoQ basis from 37.62 in Q2 2026.

Analysis

Palo Alto Networks (PANW) EV to FCF (2012 - 2026) Analysis & Trends

Palo Alto Networks (PANW) has 15 years of EV to FCF data on file, last reported at 65.01 in Q3 2026.

On a quarterly basis, EV to FCF rose 99.46% year-over-year to 65.01 in Q3 2026; TTM through Jul 2026 was 65.01, a 99.46% increase from a year earlier, with the FY2026 full-year figure at 65.01, up 99.46% from the prior year.
EV to FCF for Q3 2026 stood at 65.01, up from 37.62 in the prior quarter.
Across five years, EV to FCF topped out at 65.01 in Q3 2026 and bottomed at 16.6 in Q1 2023.
Historically, EV to FCF has averaged 32.89 across 5 years, with a median of 32.59 in 2025.
The widest annual swing landed in 2023, when EV to FCF slumped 47.54%; it then soared 118.34% in 2024.
Year by year, EV to FCF stood at 19.74 in 2022, then increased by 25.35% to 24.75 in 2023, then jumped by 50.58% to 37.26 in 2024, then climbed by 7.78% to 40.16 in 2025, then jumped by 61.86% to 65.01 in 2026.
Per Business Quant data, the three most recent EV to FCF figures were 65.01 in Q3 2026, 37.62 in Q2 2026, and 33.63 in Q1 2026.

Peer Set

Peer Comparison

All peers

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)
1	Palo Alto Networks	320.54 Bn	317.47 Bn	2.30 Bn
2	CrowdStrike Holdings	268.77 Bn	263.80 Bn	1.10 Bn
3	Fortinet	131.12 Bn	127.05 Bn	1.64 Bn
4	Snowflake	118.02 Bn	115.67 Bn	1.04 Bn
5	Datadog	90.27 Bn	85.29 Bn	881.34 Mn
6	Axon Enterprise	36.61 Bn	35.93 Bn	546.45 Mn
7	Zscaler	34.97 Bn	31.49 Bn	-
8	MongoDB	34.51 Bn	32.10 Bn	569.77 Mn
9	Okta	34.32 Bn	32.02 Bn	641.00 Mn
10	Baidu	30.55 Bn	8.15 Bn	1.76 Mn

Historic Data

Download Data

Date	Value
Jul 31, 2026	65.01
Apr 30, 2026	37.62
Jan 31, 2026	33.63
Oct 31, 2025	40.16
Jul 31, 2025	32.59
Apr 30, 2025	40.39
Jan 31, 2025	40.44
Oct 31, 2024	37.26
Jul 31, 2024	33.21
Apr 30, 2024	30.27
Jan 31, 2024	36.23
Oct 31, 2023	24.75
Jul 31, 2023	28.38
Apr 30, 2023	18.91
Jan 31, 2023	16.60
Oct 31, 2022	19.74
Jul 31, 2022	25.71
Apr 30, 2022	32.40
Jan 31, 2022	31.63
Oct 31, 2021	32.58

API Access

Palo Alto Networks EV to FCF 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=ev-to-fcf&ticker=PANW&period=max&api_key=YOUR_API_KEY

import requests

url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-fcf", "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=ev-to-fcf&ticker=PANW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();

API documentation

Palo Alto Networks (PANW) EV to FCF (2012 - 2026)