Palo Alto Networks (PANW) Gross Margin (2011 - 2026)
Palo Alto Networks' Gross Margin was 67.57% in fiscal Q4 2026 (quarter ended Jul 31, 2026), down 5.66 percentage points from 73.23% a year earlier but up 0.01 percentage points from the prior quarter.
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Analysis
Palo Alto Networks (PANW) Gross Margin (2011 - 2026) Analysis & Trends
For FY2026 (ended Jul 31, 2026), Gross Margin at Palo Alto Networks came in at 70.36%, down 3.06 percentage points from FY2025.
- Gross Margin shows a five-year change of +0.31 percentage points (FY2021 to FY2026).
- In earlier fiscal years, Gross Margin was 73.42% in FY2025 (-0.93 pp), 74.35% in FY2024 (+2.06 pp), 72.29% in FY2023 (+3.53 pp) and 68.76% in FY2022 (-1.29 pp).
- Quarterly Gross Margin has moved between 67.55% (fiscal Q3 2026) and 74.83% (fiscal Q1 2024) over five years.
- Compared with a year earlier, Gross Margin was higher in two of the last eight quarters, with an average year-over-year change of -1.82 percentage points.
- The best year-over-year quarter for Gross Margin over five years was fiscal Q4 2023 (a gain of 5.81 percentage points); the worst was fiscal Q4 2026 (a drop of 5.66 percentage points).
- Per Business Quant data, PANW's Gross Margin in the three fiscal quarters before Q4 2026 was 67.55% (Q3 2026), 73.59% (Q2 2026) and 74.21% (Q1 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 305.41 Bn | 290.49 Bn | 2.30 Bn | 67.57% |
| 2 | CrowdStrike Holdings | 258.16 Bn | 238.60 Bn | 1.10 Bn | 74.57% |
| 3 | Fortinet | 127.25 Bn | 113.18 Bn | 1.64 Bn | 80.24% |
| 4 | Snowflake | 118.44 Bn | 105.76 Bn | 1.04 Bn | 67.02% |
| 5 | Datadog | 96.25 Bn | 77.89 Bn | 881.34 Mn | 78.59% |
| 6 | Axon Enterprise | 34.94 Bn | 29.46 Bn | 546.45 Mn | 60.42% |
| 7 | MongoDB | 33.06 Bn | 23.53 Bn | 569.77 Mn | 73.83% |
| 8 | Okta | 32.62 Bn | 22.72 Bn | 641.00 Mn | 79.63% |
| 9 | Zscaler | 31.48 Bn | 17.60 Bn | - | - |
| 10 | Baidu | 29.71 Bn | -43.91 Bn | 1.47 Mn | 0.03% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 67.57% |
| Apr 30, 2026 | 67.55% |
| Jan 31, 2026 | 73.59% |
| Oct 31, 2025 | 74.21% |
| Jul 31, 2025 | 73.23% |
| Apr 30, 2025 | 72.96% |
| 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% |
API Access
Palo Alto Networks Gross 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=gross-margin&ticker=PANW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-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=gross-margin&ticker=PANW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();