Palo Alto Networks (PANW) Research & Development (2011 - 2026)

Palo Alto Networks' Research & Development history runs 16 years deep, the most recent figure standing at $511.0 million for Q1 2026.

• In Q1 2026, Research & Development rose 1.19% year-over-year to $511.0 million; the TTM figure through Jan 2026 stood at $2.0 billion (up 5.11% YoY), while the FY2025 annual figure was $2.0 billion, up 9.66% from the prior year.
• Research & Development was $511.0 million for Q1 2026 at Palo Alto Networks, down from $528.0 million in the prior quarter.
• In the past five years, Research & Development ranged from a high of $528.0 million in Q4 2025 to a low of $355.4 million in Q2 2022.
• Historically, Research & Development has averaged $442.0 million across 5 years, with a median of $447.9 million in 2024.
• The sharpest annual moves came in 2022 and 2026: Research & Development soared 34.61% in 2022, then advanced 1.19% in 2026.
• A 5-year view of Research & Development shows it stood at $371.8 million in 2022, then grew by 10.14% to $409.5 million in 2023, then increased by 17.46% to $481.0 million in 2024, then climbed by 9.77% to $528.0 million in 2025, then dropped by 3.22% to $511.0 million in 2026.
• The last three Research & Development figures came in at $511.0 million (Q1 2026), $528.0 million (Q4 2025), and $503.5 million (Q3 2025), per Business Quant data.