Palo Alto Networks (PANW) Shares Outstanding (Diluted) (2012 - 2026)
Palo Alto Networks (PANW) posted Shares Outstanding (Diluted) of 764 million for fiscal Q4 2026 (quarter ended Jul 31, 2026), up 7.7% from 709.3 million a year earlier but down 4.6% from the prior quarter.
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Analysis
Palo Alto Networks (PANW) Shares Outstanding (Diluted) (2012 - 2026) Analysis & Trends
Since fiscal Q3 2012, Palo Alto Networks has reported Shares Outstanding (Diluted) for 58 quarters.
- Annual Shares Outstanding (Diluted) has increased for five consecutive fiscal years, with a five-year compound annual growth rate of 5.7% (FY2021 to FY2026).
- In prior fiscal years, Palo Alto Networks' Shares Outstanding (Diluted) was 709.3 million in FY2025 (+0.2%), 708 million in FY2024 (+3.4%), 684.6 million in FY2023 (+15.8%) and 591 million in FY2022 (+2.2%).
- Quarterly Shares Outstanding (Diluted) has run from a low of 585.8 million in fiscal Q1 2022 to a high of 801 million in fiscal Q3 2026 over five years.
- On a year-over-year basis, Shares Outstanding (Diluted) has increased in each of the last three quarters, with growth averaging 2.7% over the last eight quarters.
- The strongest year-over-year quarter for Shares Outstanding (Diluted) in the past five years was fiscal Q3 2023, with growth of 16.2%; the weakest was fiscal Q2 2025, with a decline of 0.8%.
- According to Business Quant data, Shares Outstanding (Diluted) for the three prior fiscal quarters was 801 million (Q3 2026), 711 million (Q2 2026) and 709 million (Q1 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 305.41 Bn | 290.49 Bn | 2.30 Bn | 764.00 Mn |
| 2 | CrowdStrike Holdings | 258.16 Bn | 238.60 Bn | 1.10 Bn | 1.04 Bn |
| 3 | Fortinet | 127.25 Bn | 113.18 Bn | 1.64 Bn | 739.90 Mn |
| 4 | Snowflake | 118.44 Bn | 105.76 Bn | 1.04 Bn | 349.26 Mn |
| 5 | Datadog | 96.25 Bn | 77.89 Bn | 881.34 Mn | 371.02 Mn |
| 6 | Axon Enterprise | 34.94 Bn | 29.46 Bn | 546.45 Mn | 82.54 Mn |
| 7 | MongoDB | 33.06 Bn | 23.53 Bn | 569.77 Mn | 82.00 Mn |
| 8 | Okta | 32.62 Bn | 22.72 Bn | 641.00 Mn | 178.81 Mn |
| 9 | Zscaler | 31.48 Bn | 17.60 Bn | - | 160.22 Mn |
| 10 | Baidu | 29.71 Bn | -43.91 Bn | 1.47 Mn | 42.88 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 764.00 Mn |
| Apr 30, 2026 | 801.00 Mn |
| Jan 31, 2026 | 711.00 Mn |
| Oct 31, 2025 | 709.00 Mn |
| Jul 31, 2025 | 709.30 Mn |
| Apr 30, 2025 | 707.40 Mn |
| Jan 31, 2025 | 709.00 Mn |
| Oct 31, 2024 | 709.00 Mn |
| Jul 31, 2024 | 708.00 Mn |
| Apr 30, 2024 | 709.20 Mn |
| Jan 31, 2024 | 715.00 Mn |
| Oct 31, 2023 | 699.60 Mn |
| Jul 31, 2023 | 684.60 Mn |
| Apr 30, 2023 | 689.40 Mn |
| Jan 31, 2023 | 663.20 Mn |
| Oct 31, 2022 | 676.80 Mn |
| Jul 31, 2022 | 591.00 Mn |
| Apr 30, 2022 | 593.40 Mn |
| Jan 31, 2022 | 589.00 Mn |
| Oct 31, 2021 | 585.80 Mn |
API Access
Palo Alto Networks Shares Outstanding (Diluted) 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=shares-outstanding-diluted&ticker=PANW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-diluted", "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=shares-outstanding-diluted&ticker=PANW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();