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

Palo Alto Networks' Operating Margin history runs 16 years deep, the most recent figure standing at 15.3% for Q1 2026.

• In Q1 2026, Operating Margin rose 463.0% year-over-year to 15.3%; the TTM figure through Jan 2026 stood at 14.37% (up 338.0% YoY), while the FY2025 annual figure was 13.48%, up 496.0% from the prior year.
• Operating Margin was 15.3% for Q1 2026 at Palo Alto Networks, up from 12.49% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 19.6% in Q3 2025 to a low of 5.61% in Q1 2022.
• Historically, Operating Margin has averaged 7.52% across 5 years, with a median of 9.56% in 2025.
• The sharpest annual moves came in 2023 and 2024: Operating Margin soared 1198 bps in 2023, then sank 209 bps in 2024.
• A 5-year view of Operating Margin shows it stood at 0.97% in 2022, then surged by 1079 bps to 11.46% in 2023, then advanced by 17 bps to 13.37% in 2024, then declined by 7 bps to 12.49% in 2025, then rose by 23 bps to 15.3% in 2026.
• The last three Operating Margin figures came in at 15.3% (Q1 2026), 12.49% (Q4 2025), and 19.6% (Q3 2025), per Business Quant data.