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.

• On a quarterly basis, Gross Margin rose 13.0% year-over-year to 73.59% in Q1 2026; TTM through Jan 2026 was 73.5%, a 36.0% decrease from a year earlier, with the FY2025 full-year figure at 73.41%, down 93.0% from the prior year.
• Gross Margin declined to 73.59% in Q1 2026 per PANW's latest filing, from 74.21% in the prior quarter.
• Across five years, Gross Margin topped out at 74.83% in Q4 2023 and bottomed at 68.23% in Q2 2022.
• The 5-year median for Gross Margin is 73.46% (2025), against an average of 72.56%.
• Across the five-year window, Gross Margin sank 232 bps in 2022 and jumped 581 bps in 2023, its largest moves.
• Year by year, Gross Margin 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.
• Per Business Quant, the three latest PANW Gross Margin figures stand at 73.59% (Q1 2026), 74.21% (Q4 2025), and 73.23% (Q3 2025).