Palo Alto Networks (PANW) Operating Leases (2019 - 2026)
Palo Alto Networks' Operating Leases came in at $726 million for fiscal Q4 2026 (quarter ended Jul 31, 2026), up 114.8% from $338 million a year earlier and up 1.0% from the prior quarter.
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Analysis
Palo Alto Networks (PANW) Operating Leases (2019 - 2026) Analysis & Trends
Going back to fiscal Q1 2020, Palo Alto Networks' Operating Leases data covers 28 quarters.
- Operating Leases carries a five-year compound annual growth rate of 18.3% (FY2021 to FY2026).
- Going back by fiscal year, Operating Leases was $338 million in FY2025 (-11.2%), $380.5 million in FY2024 (+36.3%), $279.2 million in FY2023 (+1.1%) and $276.1 million in FY2022 (-11.9%).
- The fiscal Q4 2026 figure represents the highest quarterly Operating Leases in data going back to fiscal Q1 2020.
- Year-over-year, Operating Leases has increased for three consecutive quarters, with growth averaging 29.6% over the last eight quarters.
- The fastest year-over-year change in Operating Leases over five years came in fiscal Q4 2026 (growth of 114.8%), and the weakest in fiscal Q3 2022 (a decline of 13.2%).
- Business Quant data shows PANW's Operating Leases at $719 million (Q3 2026), $372 million (Q2 2026) and $346 million (Q1 2026) in the three fiscal quarters before Q4 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Palo Alto Networks | 264.72 Bn | 249.79 Bn | 2.30 Bn |
| 2 | CrowdStrike Holdings | 238.73 Bn | 219.14 Bn | 1.10 Bn |
| 3 | Fortinet | 127.27 Bn | 113.20 Bn | 1.64 Bn |
| 4 | Snowflake | 110.23 Bn | 97.55 Bn | 1.04 Bn |
| 5 | Datadog | 89.17 Bn | 70.81 Bn | 881.34 Mn |
| 6 | Zscaler | 33.92 Bn | 20.04 Bn | - |
| 7 | Okta | 33.82 Bn | 23.92 Bn | 641.00 Mn |
| 8 | Axon Enterprise | 33.04 Bn | 27.56 Bn | 546.45 Mn |
| 9 | MongoDB | 27.87 Bn | 18.34 Bn | 569.77 Mn |
| 10 | F5 | 25.05 Bn | 19.46 Bn | 711.51 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 726.00 Mn |
| Apr 30, 2026 | 719.00 Mn |
| Jan 31, 2026 | 372.00 Mn |
| Oct 31, 2025 | 346.00 Mn |
| Jul 31, 2025 | 338.00 Mn |
| Apr 30, 2025 | 345.70 Mn |
| Jan 31, 2025 | 363.00 Mn |
| Oct 31, 2024 | 379.60 Mn |
| Jul 31, 2024 | 380.50 Mn |
| Apr 30, 2024 | 369.80 Mn |
| Jan 31, 2024 | 362.70 Mn |
| Oct 31, 2023 | 275.80 Mn |
| Jul 31, 2023 | 279.20 Mn |
| Apr 30, 2023 | 264.50 Mn |
| Jan 31, 2023 | 274.20 Mn |
| Oct 31, 2022 | 283.10 Mn |
| Jul 31, 2022 | 276.10 Mn |
| Apr 30, 2022 | 275.70 Mn |
| Jan 31, 2022 | 282.40 Mn |
| Oct 31, 2021 | 299.50 Mn |
API Access
Palo Alto Networks Operating Leases 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=operating-leases&ticker=PANW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-leases", "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=operating-leases&ticker=PANW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();