Palo Alto Networks (PANW) Gross Margin (2011 - 2026)

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 was 73.59% for Q1 2026 at Palo Alto Networks, 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.
• Historically, Gross Margin has averaged 72.56% across 5 years, with a median of 73.46% in 2025.
• The sharpest annual moves came in 2022 and 2023: Gross Margin sank 232 bps in 2022, then surged 581 bps in 2023.
• A 5-year view of Gross Margin shows it stood at 70.46% in 2022, then rose by 6 bps to 74.83% in 2023, then dropped by 1 bps to 74.1% in 2024, then rose by 0 bps to 74.21% in 2025, then slipped by 1 bps to 73.59% in 2026.
• The last three Gross Margin figures came in at 73.59% (Q1 2026), 74.21% (Q4 2025), and 73.23% (Q3 2025), per Business Quant data.