Palo Alto Networks (PANW) Gross Margin (2011 - 2026)
Palo Alto Networks (PANW) posted quarterly Gross Margin of 73.59% for Q1 2026, up 13.0% year-over-year from 65.13% in Q1 2025, and down 0.83% quarter-over-quarter from 74.21% in Q4 2025.
Palo Alto Networks (PANW) Gross Margin (2011 - 2026) Analysis & Trends
Palo Alto Networks' Gross Margin history runs 16 years deep, the most recent figure standing at 73.59% for Q1 2026.
- In Q1 2026, Gross Margin rose 13.0% year-over-year to 73.59%; the TTM figure through Jan 2026 stood at 73.5% (down 36.0% YoY), while the FY2025 annual figure was 73.41%, down 93.0% from the prior year.
- Gross Margin for Q1 2026 stood at 73.59%, down from 74.21% in the prior quarter.
- The five-year high for Gross Margin was 74.83% in Q4 2023, with the low at 68.23% in Q2 2022.
- The 5-year median for Gross Margin is 73.46% (2025), against an average of 72.56%.
- The sharpest annual moves came in 2022 and 2023: Gross Margin plunged 232 bps in 2022, then jumped 581 bps in 2023.
- Palo Alto Networks' Gross Margin stood at 70.46% in 2022, then increased by 6 bps to 74.83% in 2023, then slipped by 1 bps to 74.1% in 2024, then increased by 0 bps to 74.21% in 2025, then decreased by 1 bps to 73.59% in 2026.
- Business Quant data shows PANW's Gross Margin at 73.59% in Q1 2026, 74.21% in Q4 2025, and 73.23% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 67.20% |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 84.66% |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | - |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | 67.55% |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 80.24% |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | 71.76% |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 73.54% |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | 65.86% |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 47.84% |
| 10 | NetApp | 40.73 Bn | 37.15 Bn | 1.37 Bn | 70.07% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 67.55% |
| Jan 31, 2026 | 73.59% |
| Oct 31, 2025 | 74.21% |
| Jul 31, 2025 | 73.23% |
| Apr 30, 2025 | 72.94% |
| Jan 31, 2025 | 73.46% |
| Oct 31, 2024 | 74.10% |
| Jul 31, 2024 | 73.80% |
| Apr 30, 2024 | 74.12% |
| Jan 31, 2024 | 74.73% |
| Oct 31, 2023 | 74.83% |
| Jul 31, 2023 | 74.05% |
| Apr 30, 2023 | 72.41% |
| Jan 31, 2023 | 71.83% |
| Oct 31, 2022 | 70.46% |
| Jul 31, 2022 | 68.25% |
| Apr 30, 2022 | 68.23% |
| Jan 31, 2022 | 69.22% |
| Oct 31, 2021 | 69.49% |
| Jul 31, 2021 | 70.57% |