Filing Flows

Filing Flows › Palo Alto Networks (PANW) › Q4 FY25

Palo Alto Networks (PANW) Q4 FY25 earnings results (fourth quarter fiscal 2025)

10-K filed Aug 29, 2025

Palo Alto Networks (PANW) reported revenue of $2.5B for the fourth quarter fiscal 2025 (Q4 FY25), +16% from a year earlier and +11% from the quarter before. Operating margin was 19.6%, net earnings $254M (10.0% of revenue).

Revenue$2.5B
Year over year+16%
Quarter over quarter+11%
Operating margin19.6%
Net earnings$254M

Palo Alto Networks, Q4 FY25: revenue $2.5B (+16% year over year), operating margin 19.6%, net earnings $254M, operating cash flow $1.0B. The chart follows the revenue to costs, profit and cash.

Q4 FY25AmountQ/QY/Y
Revenue$2.5B+11%+16%
Gross profit$1.9B+11%+15%
Operating profit$497M+127%+108%
Net earnings$254M-3%-29%
Operating cash flow$1.0B+63%+99%
Free cash flow$934M+67%+101%

What changed

Revenue was $2.5B in Q4 FY25, up 16% year over year and up 11% from the previous quarter. Subscription was the largest line at 52% of revenue.

Gross margin was 73.2%, down 0.6 points from a year earlier. Operating profit was $0.50B, a 19.6% margin (up 8.7 points year over year). Of the extra revenue versus a year earlier, 74% reached operating profit, above the 11% margin then. Operating expenses fell 1% while revenue rose 16%. The fastest-growing cost line was Sales & marketing (+12%). Net earnings were $0.25B, down 29% year over year. The effective tax rate was 57.1%.

Operating cash flow was $1.0B (up 99% year over year), 402% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization and $0.35B of share-based compensation. Working capital and other items added $0.33B. Capital expenditures of $0.09B left free cash flow of $0.93B.

Questions

What was Palo Alto Networks' revenue in the fourth quarter fiscal 2025?

Palo Alto Networks (PANW) reported revenue of $2.5B for the fourth quarter fiscal 2025 (Q4 FY25), +16% from a year earlier and +11% from the quarter before.

Was Palo Alto Networks profitable in the fourth quarter fiscal 2025?

Operating profit was $497M (19.6% of revenue) and net earnings $254M.

Open the interactive Sankey →

Source: Palo Alto Networks 10-K on SEC EDGAR.