Palo Alto Networks (PANW) FCF Margin (2011 - 2026)
Palo Alto Networks' (PANW) quarterly FCF Margin came in at 36.77% in Q3 2026, down 6.0% year-over-year from 39.12% in Q3 2025, and up 40.1% on a QoQ basis from 26.25% in Q2 2026.
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Palo Alto Networks (PANW) FCF Margin (2011 - 2026) Analysis & Trends
Palo Alto Networks (PANW) has 16 years of FCF Margin data on file, last reported at 36.77% in Q3 2026.
- On a quarterly basis, FCF Margin fell 6.0% year-over-year to 36.77% in Q3 2026; TTM through Jul 2026 was 35.83%, a 179.0% decrease from a year earlier, with the FY2026 full-year figure at 35.83%, down 179.0% from the prior year.
- FCF Margin for Q3 2026 stood at 36.77%, up from 26.25% in the prior quarter.
- Across five years, FCF Margin topped out at 79.29% in Q4 2023 and bottomed at 14.8% in Q1 2026.
- Historically, FCF Margin has averaged 36.99% across 5 years, with a median of 30.52% in 2022.
- The widest annual swing landed in 2022, when FCF Margin surged 3213 bps; it then sank 1195 bps in 2023.
- Year by year, FCF Margin stood at 76.57% in 2022, then gained by 4 bps to 79.29% in 2023, then retreated by 14 bps to 68.54% in 2024, then declined by 1 bps to 68.19% in 2025, then tumbled by 46 bps to 36.77% in 2026.
- Per Business Quant data, the three most recent FCF Margin figures were 36.77% in Q3 2026, 26.25% in Q2 2026, and 14.8% in Q1 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 320.54 Bn | 317.47 Bn | 2.30 Bn | 36.77% |
| 2 | CrowdStrike Holdings | 268.77 Bn | 263.80 Bn | 1.10 Bn | 27.59% |
| 3 | Fortinet | 131.12 Bn | 127.05 Bn | 1.64 Bn | 47.15% |
| 4 | Snowflake | 118.02 Bn | 115.67 Bn | 1.04 Bn | 5.71% |
| 5 | Datadog | 90.27 Bn | 85.29 Bn | 881.34 Mn | 25.73% |
| 6 | Axon Enterprise | 36.61 Bn | 35.93 Bn | 546.45 Mn | -0.11% |
| 7 | Zscaler | 34.97 Bn | 31.49 Bn | - | - |
| 8 | MongoDB | 34.51 Bn | 32.10 Bn | 569.77 Mn | 17.97% |
| 9 | Okta | 34.32 Bn | 32.02 Bn | 641.00 Mn | 28.32% |
| 10 | Baidu | 30.55 Bn | 8.15 Bn | 1.76 Mn | 47.16% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 36.77% |
| Apr 30, 2026 | 26.25% |
| Jan 31, 2026 | 14.80% |
| Oct 31, 2025 | 68.19% |
| Jul 31, 2025 | 36.83% |
| Apr 30, 2025 | 24.46% |
| Jan 31, 2025 | 22.55% |
| Oct 31, 2024 | 68.54% |
| Jul 31, 2024 | 21.27% |
| Apr 30, 2024 | 24.76% |
| Jan 31, 2024 | 33.15% |
| Oct 31, 2023 | 79.29% |
| Jul 31, 2023 | 19.30% |
| Apr 30, 2023 | 23.30% |
| Jan 31, 2023 | 39.65% |
| Oct 31, 2022 | 76.57% |
| Jul 31, 2022 | 31.25% |
| Apr 30, 2022 | 25.33% |
| Jan 31, 2022 | 30.52% |
| Oct 31, 2021 | 44.44% |
API Access
Palo Alto Networks FCF Margin 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=fcf-margin&ticker=PANW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "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=fcf-margin&ticker=PANW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();