Palo Alto Networks annual operating margin
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Palo Alto Networks Operating Margin Growth & History (PANW)
Palo Alto Networks's operating margin was 13.48% for fiscal 2025.
View full Palo Alto Networks company overviewPalo Alto Networks annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-07-31 | 13.48% | +4.96 pp |
| 2024 | 2024-07-31 | 8.52% | +2.90 pp |
| 2023 | 2023-07-31 | 5.62% | +9.05 pp |
| 2022 | 2022-07-31 | −3.43% | +3.71 pp |
| 2021 | 2021-07-31 | −7.15% | −1.89 pp |
| 2020 | 2020-07-31 | −5.25% | −3.39 pp |
| 2019 | 2019-07-31 | −1.87% | +2.72 pp |
| 2018 | 2018-07-31 | −4.58% | +4.86 pp |
| 2017 | 2017-07-31 | −9.45% | +1.96 pp |
| 2016 | 2016-07-31 | −11.41% | −0.66 pp |
| 2015 | 2015-07-31 | −10.75% | +25.24 pp |
| 2014 | 2014-07-31 | −35.99% | −31.29 pp |
| 2013 | 2013-07-31 | −4.70% | −6.23 pp |
| 2012 | 2012-07-31 | 1.53% | +10.30 pp |
| 2011 | 2011-07-31 | −8.77% | — |
Palo Alto Networks quarterly operating margin
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| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q3 2026 | 2026-04-30 | −6.10% | −15.66 pp |
| Q2 2026 | 2026-01-31 | 15.30% | +4.63 pp |
| Q1 2026 | 2025-10-31 | 12.49% | −0.88 pp |
| Q4 2025 | 2025-07-31 | 19.59% | +8.70 pp |
| Q3 2025 | 2025-04-30 | 9.57% | +0.66 pp |
| Q2 2025 | 2025-01-31 | 10.68% | +7.96 pp |
| Q1 2025 | 2024-10-31 | 13.37% | +1.91 pp |
| Q4 2024 | 2024-07-31 | 10.89% | −2.09 pp |
| Q3 2024 | 2024-04-30 | 8.90% | +4.33 pp |
| Q2 2024 | 2024-01-31 | 2.71% | +0.30 pp |
| Q1 2024 | 2023-10-31 | 11.46% | +10.49 pp |
| Q4 2023 | 2023-07-31 | 12.98% | +11.98 pp |
| Q3 2023 | 2023-04-30 | 4.57% | +8.01 pp |
| Q2 2023 | 2023-01-31 | 2.41% | +8.02 pp |
| Q1 2023 | 2022-10-31 | 0.97% | +7.60 pp |
| Q4 2022 | 2022-07-31 | 0.99% | +5.95 pp |
| Q3 2022 | 2022-04-30 | −3.43% | +6.85 pp |
| Q2 2022 | 2022-01-31 | −5.61% | +3.12 pp |
| Q1 2022 | 2021-10-31 | −6.63% | −1.93 pp |
| Q4 2021 | 2021-07-31 | −4.95% | −3.08 pp |
| Q3 2021 | 2021-04-30 | −10.28% | −3.78 pp |
| Q2 2021 | 2021-01-31 | −8.73% | −2.26 pp |
| Q1 2021 | 2020-10-31 | −4.70% | +2.01 pp |
| Q4 2020 | 2020-07-31 | −1.87% | −0.64 pp |
| Q3 2020 | 2020-04-30 | −6.50% | −3.93 pp |
| Q2 2020 | 2020-01-31 | −6.48% | −7.41 pp |
| Q1 2020 | 2019-10-31 | −6.71% | −1.82 pp |
| Q4 2019 | 2019-07-31 | −1.23% | −3.83 pp |
| Q3 2019 | 2019-04-30 | −2.57% | +5.41 pp |
| Q2 2019 | 2019-01-31 | 0.93% | +5.05 pp |
| Q1 2019 | 2018-10-31 | −4.89% | +5.77 pp |
| Q4 2018 | 2018-07-31 | 2.60% | +5.24 pp |
| Q3 2018 | 2018-04-30 | −7.98% | +3.39 pp |
| Q2 2018 | 2018-01-31 | −4.12% | +8.75 pp |
| Q1 2018 | 2017-10-31 | −10.66% | +1.65 pp |
| Q4 2017 | 2017-07-31 | −2.65% | +3.02 pp |
| Q3 2017 | 2017-04-30 | −11.37% | +3.81 pp |
| Q2 2017 | 2017-01-31 | −12.87% | +2.10 pp |
| Q1 2017 | 2016-10-31 | −12.31% | −1.54 pp |
| Q4 2016 | 2016-07-31 | −5.66% | −5.38 pp |
| Q3 2016 | 2016-04-30 | −15.18% | +0.49 pp |
| Q2 2016 | 2016-01-31 | −14.97% | +2.72 pp |
| Q1 2016 | 2015-10-31 | −10.77% | +1.61 pp |
| Q4 2015 | 2015-07-31 | −0.28% | +13.97 pp |
| Q3 2015 | 2015-04-30 | −15.67% | +81.03 pp |
| Q2 2015 | 2015-01-31 | −17.68% | +8.65 pp |
| Q1 2015 | 2014-10-31 | −12.38% | −6.91 pp |
| Q4 2014 | 2014-07-31 | −14.25% | −8.13 pp |
| Q3 2014 | 2014-04-30 | −96.70% | −90.34 pp |
| Q2 2014 | 2014-01-31 | −26.34% | −24.10 pp |
| Q1 2014 | 2013-10-31 | −5.47% | −1.83 pp |
| Q4 2013 | 2013-07-31 | −6.12% | −0.51 pp |
| Q3 2013 | 2013-04-30 | −6.37% | −6.31 pp |
| Q2 2013 | 2013-01-31 | −2.24% | −4.49 pp |
| Q1 2013 | 2012-10-31 | −3.64% | −15.72 pp |
| Q4 2012 | 2012-07-31 | −5.61% | — |
| Q3 2012 | 2012-04-30 | −0.06% | — |
| Q2 2012 | 2012-01-31 | 2.25% | — |
| Q1 2012 | 2011-10-31 | 12.08% | — |
Palo Alto Networks operating margin trends
Over the last five reported fiscal years, Palo Alto Networks's operating margin increased from −5.25% to 13.48%, a change of +18.73 percentage points. The latest reported quarter, Q3 2026, shows −6.10%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Palo Alto Networks filings at SEC.gov ↗