Palo Alto Networks (PANW) Operating Margin (2011 - 2026)
Palo Alto Networks' Operating Margin was 5.04% in fiscal Q4 2026 (quarter ended Jul 31, 2026), down 14.55 percentage points from 19.60% a year earlier but up 11.14 percentage points from the prior quarter.
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Analysis
Palo Alto Networks (PANW) Operating Margin (2011 - 2026) Analysis & Trends
For FY2026 (ended Jul 31, 2026), Operating Margin at Palo Alto Networks came in at 6.05%, down 7.43 percentage points from FY2025.
- Operating Margin shows a five-year change of +13.20 percentage points (FY2021 to FY2026).
- In earlier fiscal years, Operating Margin was 13.48% in FY2025 (+4.96 pp), 8.52% in FY2024 (+2.90 pp), 5.62% in FY2023 (+9.05 pp) and -3.43% in FY2022 (+3.71 pp).
- Quarterly Operating Margin has moved between -6.63% (fiscal Q1 2022) and 19.60% (fiscal Q4 2025) over five years.
- Compared with a year earlier, Operating Margin was higher in five of the last eight quarters, with an average year-over-year change of -0.90 percentage points.
- The best year-over-year quarter for Operating Margin over five years was fiscal Q4 2023 (a gain of 11.98 percentage points); the worst was fiscal Q3 2026 (a drop of 15.66 percentage points).
- Per Business Quant data, PANW's Operating Margin in the three fiscal quarters before Q4 2026 was -6.10% (Q3 2026), 15.30% (Q2 2026) and 12.49% (Q1 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 256.64 Bn | 241.72 Bn | 2.30 Bn | 5.04% |
| 2 | CrowdStrike Holdings | 232.35 Bn | 212.75 Bn | 1.10 Bn | -2.26% |
| 3 | Fortinet | 123.26 Bn | 109.19 Bn | 1.64 Bn | 33.66% |
| 4 | Snowflake | 108.15 Bn | 95.47 Bn | 1.04 Bn | -17.00% |
| 5 | Datadog | 88.38 Bn | 70.02 Bn | 881.34 Mn | 0.49% |
| 6 | Zscaler | 32.92 Bn | 19.04 Bn | - | - |
| 7 | Okta | 32.82 Bn | 22.92 Bn | 641.00 Mn | 13.29% |
| 8 | Axon Enterprise | 32.21 Bn | 26.73 Bn | 546.45 Mn | 5.17% |
| 9 | MongoDB | 27.08 Bn | 17.55 Bn | 569.77 Mn | 3.68% |
| 10 | F5 | 25.16 Bn | 19.57 Bn | 711.51 Mn | 24.65% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 5.04% |
| Apr 30, 2026 | -6.10% |
| Jan 31, 2026 | 15.30% |
| Oct 31, 2025 | 12.49% |
| Jul 31, 2025 | 19.60% |
| Apr 30, 2025 | 9.57% |
| Jan 31, 2025 | 10.68% |
| Oct 31, 2024 | 13.37% |
| Jul 31, 2024 | 10.90% |
| Apr 30, 2024 | 8.90% |
| Jan 31, 2024 | 2.71% |
| Oct 31, 2023 | 11.46% |
| Jul 31, 2023 | 12.98% |
| Apr 30, 2023 | 4.57% |
| Jan 31, 2023 | 2.41% |
| Oct 31, 2022 | 0.97% |
| Jul 31, 2022 | 0.99% |
| Apr 30, 2022 | -3.43% |
| Jan 31, 2022 | -5.61% |
| Oct 31, 2021 | -6.63% |
API Access
Palo Alto Networks Operating 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=operating-margin&ticker=PANW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=PANW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();