Filing Flows › Palo Alto Networks (PANW) › Q4 FY26 › vs Q4 FY25
Palo Alto Networks (PANW) Q4 FY26 vs Q4 FY25 (year over year)
Palo Alto Networks's revenue rose $874M (+34%) from $2.5B in Q4 FY25 to $3.4B in Q4 FY26.
Palo Alto Networks, Q4 FY26: revenue $3.4B (+34% year over year), operating margin 5.0%, net loss $282M, operating cash flow $1.4B. The chart draws each line against Q4 FY25, the increases inside each band.
Margins
| Q4 FY26 | Q4 FY25 | Change | |
|---|---|---|---|
| Free cash flow margin | 36.8% | 36.8% | -0.1 pts |
Every line
| Line | Q4 FY26 | Q4 FY25 | Change | % |
|---|---|---|---|---|
| Revenue | $3.4B | $2.5B | $874M | +34% |
| Net loss | $282M | −$254M | $536M | — |
| Costs & expenses | $3.7B | $2.6B | $1.1B | +40% |
| Operating costs | $3.2B | $2.0B | $1.2B | +59% |
| Interest & other, net | $441M | −$95.0M | $536M | — |
| Income tax | $13.0M | $338M | −$325M | -96% |
| Cost of revenue | $1.1B | $679M | $427M | +63% |
| Research & development | $779M | $504M | $275M | +55% |
| Sales & marketing | $1.1B | $829M | $298M | +36% |
| General & admin | $226M | $27.0M | $199M | +737% |
| Operating cash sources | $1.6B | $767M | $872M | +114% |
| Depreciation & amortization | $341M | $84.0M | $257M | +306% |
| Share-based compensation | $460M | $354M | $106M | +30% |
| Working capital & other | $838M | $329M | $509M | +155% |
| Net loss absorbed | $282M | −$254M | $536M | — |
| Operating cash flow | $1.4B | $1.0B | $336M | +33% |
| Free cash flow (company-reported) | $1.3B | $934M | $320M | +34% |
| Purchases of property, equipment, and other assets | $103M | $87.0M | $16.0M | +18% |
Questions
How much did Palo Alto Networks's revenue grow year over year in Q4 FY26?
Palo Alto Networks's revenue rose $874M (+34%) from $2.5B in Q4 FY25 to $3.4B in Q4 FY26.