Filing Flows › Palo Alto Networks (PANW) › Operating margin
Palo Alto Networks (PANW) operating margin by quarter
Palo Alto Networks' operating margin was 15.3% in Q2 FY26 (second quarter fiscal 2026), +2.8 pts from Q1 FY26. Over the last 5 quarters it ranged from 9.6% (Q3 FY25) to 19.6% (Q4 FY25).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q2 FY26 | 15.3% | +2.8 pts | +4.6 pts |
| Q1 FY26 | 12.5% | -7.1 pts | — |
| Q4 FY25 | 19.6% | +10.0 pts | — |
| Q3 FY25 | 9.6% | -1.1 pts | — |
| Q2 FY25 | 10.7% | — | — |
Q2 FY26 at a glance
Palo Alto Networks, Q2 FY26: revenue $2.6B (+15% year over year), operating margin 15.3%, net earnings $432M, operating cash flow $554M. The chart follows the revenue to costs, profit and cash.
Questions
What is Palo Alto Networks' operating margin?
Palo Alto Networks' operating margin was 15.3% in Q2 FY26 (second quarter fiscal 2026), +2.8 pts from Q1 FY26.
How has Palo Alto Networks' operating margin changed?
Over the last 5 quarters it ranged from 9.6% (Q3 FY25) to 19.6% (Q4 FY25).