Palo Alto Networks (PANW) Gross Margin (2016 - 2026)
Quarterly Gross Margin rose 13.0% to 73.59% in Q1 2026 from the year-ago period, while the trailing twelve-month figure was 73.5% through Jan 2026, down 36.0% year-over-year, with the annual reading at 73.41% for FY2025, 93.0% down from the prior year.
Palo Alto Networks' Gross Margin history spans 16 years, with the latest figure at 73.59% for Q1 2026.
- Gross Margin came in at 73.59% for Q1 2026, down from 74.21% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 74.83% in Q4 2023 to a low of 68.23% in Q2 2022.
- The 5-year median for Gross Margin is 73.46% (2025), against an average of 72.56%.
- Year-over-year, Gross Margin crashed -232bps in 2022 and then skyrocketed 581bps in 2023.
- Palo Alto Networks' Gross Margin stood at 70.46% in 2022, then increased by 6bps to 74.83% in 2023, then fell by -1bps to 74.1% in 2024, then increased by 0bps to 74.21% in 2025, then decreased by -1bps to 73.59% in 2026.
- Per Business Quant, the three most recent readings for PANW's Gross Margin are 73.59% (Q1 2026), 74.21% (Q4 2025), and 73.23% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,115.84 Bn | 3,037.57 Bn | 56.06 Bn | 67.63% |
| 2 | Oracle | 544.25 Bn | 505.67 Bn | 15.14 Bn | 88.06% |
| 3 | Palantir Technologies | 328.85 Bn | 320.93 Bn | 1.42 Bn | 86.78% |
| 4 | Palo Alto Networks | 175.67 Bn | 171.13 Bn | 1.91 Bn | 73.59% |
| 5 | CrowdStrike Holdings | 162.44 Bn | 159.38 Bn | 993.68 Mn | 76.12% |
| 6 | Fortinet | 95.68 Bn | 92.39 Bn | 1.49 Bn | 80.29% |
| 7 | Synopsys | 95.66 Bn | 95.54 Bn | 1.77 Bn | 73.54% |
| 8 | Cloudflare | 74.88 Bn | 73.94 Bn | 455.60 Mn | 71.21% |
| 9 | CoreWeave | 56.29 Bn | 54.02 Bn | 2.01 Bn | 96.68% |
| 10 | Block | 40.97 Bn | 34.07 Bn | 2.91 Bn | 48.03% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Apr 30, 2021 | 69.22% |
| Jan 31, 2021 | 69.75% |
| Oct 31, 2020 | 70.63% |
| Jul 31, 2020 | 69.44% |
| Apr 30, 2020 | 70.29% |
| Jan 31, 2020 | 71.46% |
| Oct 31, 2019 | 71.80% |
| Jul 31, 2019 | 73.02% |
| Apr 30, 2019 | 71.80% |
| Jan 31, 2019 | 71.51% |
| Oct 31, 2018 | 72.03% |
| Jul 31, 2018 | 71.98% |
| Apr 30, 2018 | 71.83% |
| Jan 31, 2018 | 70.78% |
| Oct 31, 2017 | 71.84% |
| Jul 31, 2017 | 124.87% |
| Apr 30, 2017 | 187.64% |
| Jan 31, 2017 | 121.91% |
| Oct 31, 2016 | 126.72% |
| Jul 31, 2016 | 74.63% |