Palo Alto Networks (PANW) Stock Buyback History
TTM buyback yield N/A.
TTM buyback yield
N/A
Shareholder yield (TTM)
N/A
5Y share count change
22.0%
TTM buyback spend
N/A
SBC coverage (TTM)
0.00x
YoY change in spend
-100.0%
5Y CAGR of spend
-100.0%
Peak year (2020)
$1.20B
Cumulative spend
$5.11B
TTM metrics calculated from the four most recent reported quarters, ending (reported ).
Key takeaways
- Diluted share count is up 22.0% over the last ~5 fiscal years — equity issuance and stock-based compensation are outpacing repurchases.
- Cash buyback spend has compounded at -100.0% per year over the latest 5-year window.
- TTM repurchases used about 0% of free cash flow remaining after dividends.
Buyback context per fiscal year
Annual repurchases alongside stock-based compensation, diluted share count and the year-over-year change — useful for SBC-coverage and dilution-offset reading at a glance.
| Year | Buybacks | SBC | Net | Shares (dil.) | YoY shares | Buyback yield |
|---|---|---|---|---|---|---|
| 2025 | $0.00 | $1.30B | −$1.30B | 0.71B | 0.2% | — |
| 2024 | $566.70M | $1.08B | −$508.70M | 0.71B | 3.4% | 0.49% |
| 2023 | $272.70M | $1.07B | −$801.80M | 0.68B | 15.8% | 0.36% |
| 2022 | $892.30M | $1.01B | −$118.80M | 0.59B | 2.2% | 1.57% |
| 2021 | $1.18B | $894.50M | $283.60M | 0.58B | -0.5% | 3.04% |
| 2020 | $1.20B | $658.40M | $539.70M | 0.58B | 2.5% | 4.88% |
| 2019 | $330.00M | $567.70M | −$237.70M | 0.57B | 3.1% | 1.52% |
| 2018 | $259.10M | $496.70M | −$237.60M | 0.55B | 1.2% | 1.41% |
| 2017 | $411.00M | $474.50M | −$63.50M | 0.54B | 4.0% | 3.43% |
| 2016 | $0.00 | $392.80M | −$392.80M | 0.52B | 6.7% | — |
| 2015 | $0.00 | $221.31M | −$221.31M | 0.49B | 9.8% | — |
| 2014 | $132.00K | $99.77M | −$99.64M | 0.45B | 8.2% | 0.00% |
| 2013 | $2.78M | $43.70M | −$40.93M | 0.41B | 3.0% | 0.08% |
| 2012 | $82.00K | $13.84M | −$13.76M | 0.40B | 3.7% | 0.00% |
| 2011 | $90.00K | $4.73M | −$4.64M | 0.39B | 16.4% | 0.00% |
| 2010 | $24.00K | $869.00K | −$845.00K | 0.33B | 0.0% | — |
| 2009 | $0.00 | $374.00K | −$374.00K | 0.33B | — | — |
Cash buyback spend (USD) — annual & quarterly history
Trailing-twelve-month and per-period cash repurchases for Palo Alto Networks (PANW) from the consolidated cash flow statement (line: common stock repurchased), in USD as filed.
Cash buyback spend over time for Palo Alto Networks (PANW)
Per-period cash repurchases
Cash buyback spend annual + quarterly history for Palo Alto Networks (PANW)
| Fiscal year | Period ended | Reported | Buyback Spend | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $0 | -100.0% | -$566.70M | ||
| 2024 | $566.70M | +107.8% | +$294.00M | ||
| 2023 | $272.70M | -69.4% | -$619.60M | ||
| 2022 | $892.30M | -24.3% | -$285.80M | ||
| 2021 | $1.18B | -1.7% | -$20.00M | ||
| 2020 | $1.20B | +263.1% | +$868.10M | ||
| 2019 | $330.00M | +27.4% | +$70.90M | ||
| 2018 | $259.10M | -37.0% | -$151.90M | ||
| 2017 | $411.00M | — | +$411.00M | ||
| 2016 | $0 | — | $0 | ||
| 2015 | $0 | -100.0% | -$132,000 | ||
| 2014 | $132,000 | -95.2% | -$2.64M | ||
| 2013 | $2.78M | +3285.4% | +$2.69M | ||
| 2012 | $82,000 | -8.9% | -$8,000 | ||
| 2011 | $90,000 | +275.0% | +$66,000 | ||
| 2010 | $24,000 | — | +$24,000 | ||
| 2009 | $0 | — | — |
In 2025, Palo Alto Networks (PANW) buyback spend totalled $0 – plunged 100.0% year-over-year.
Through 2020–2025 (5 years), Palo Alto Networks buyback spend delivered a -100.0% annualised rate; with a net decline across the window.
Palo Alto Networks buyback spend plunged from $1.20B in 2020 to $0 in 2025, a 100.0% drawdown.
2020 marks the peak buyback spend at $1.20B, with the historical low of $0 recorded in 2009.
Among 8 Technology peers, Palo Alto Networks (PANW) ranks 7th; the peer median for buyback spend is $6.01B.
Palo Alto Networks Buyback Spend 2025: $0
Palo Alto Networks buyback spend in 2025 was $0, plunged 100.0% below 2024.
Palo Alto Networks Buyback Spend 2024: $566.70M
Palo Alto Networks buyback spend in 2024 was $566.70M, surged 107.8% from 2023.
Palo Alto Networks Buyback Spend 2023: $272.70M
Palo Alto Networks buyback spend in 2023 was $272.70M, plunged 69.4% below 2022.
Palo Alto Networks Buyback Spend 2022: $892.30M
Palo Alto Networks buyback spend in 2022 was $892.30M, declined 24.3% below 2021.
Palo Alto Networks Buyback Spend 2021: $1.18B
Palo Alto Networks buyback spend in 2021 was $1.18B.
See more financial history for Palo Alto Networks (PANW).
Sector peers by buyback spend
Companies in the same sector as Palo Alto Networks, ranked by their latest buyback spend.
| Company | Buyback Spend | Sector |
|---|---|---|
| Apple (AAPL) | $90.71B | Technology |
| NVIDIA (NVDA) | $40.09B | Technology |
| Microsoft (MSFT) | $18.42B | Technology |
| Broadcom (AVGO) | $6.31B | Technology |
| ASML (ASML) | $5.72B | Technology |
| AMD (AMD) | $1.32B | Technology |
| TSMC (TSM) | $0 | Technology |
| Micron Technology (MU) | $0 | Technology |
Share count history
Diluted weighted-average shares drive the EPS denominator and per-share capital-return maths. A falling diluted share count means buybacks are outpacing dilution from stock-based compensation and option exercises.
Diluted vs basic shares (annual)
Year-over-year change in diluted shares
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Dividend & buyback yield over time
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Buybacks vs stock-based compensation
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 0.00×.
Capital allocation mix
How Palo Alto Networks splits cash returned to shareholders between dividends and buybacks, plus the headroom on free cash flow that's still available for additional repurchases.
Buybacks vs dividends (share of cash returned)
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $4.07B (TTM FCF − TTM dividends, clamped at zero).
Data & methodology
Where do buyback, dividend and compensation figures come from?
Cash buyback spend (common stock repurchased), dividends paid and stock-based compensation come from Palo Alto Networks's consolidated cash flow statements — quarterly 10-Q and annual 10-K SEC filings, in USD as reported.
How are diluted shares and yields calculated?
Diluted weighted-average share counts come from the income statement (EPS denominator). Trailing twelve-month (TTM) aggregates sum the four most recent reported quarters. Buyback and dividend yields divide TTM cash flows by market capitalisation at the latest quarter-end.
How is buyback capacity defined?
Capacity compares TTM repurchases to free cash flow after dividends: operating cash flow minus capital expenditure, minus dividends paid, versus actual buybacks over the same trailing window.
Is this investment advice?
No. Figures are for informational and educational use only. Past buybacks and dividends do not predict future returns.
Frequently asked questions
Does Palo Alto Networks buy back its own stock?
Yes, Palo Alto Networks (PANW) has repurchased shares in recent periods. See the history table and charts on this page for amounts and trends.
Is Palo Alto Networks diluting shareholders?
Compare stock-based compensation (SBC) to buybacks in the chart above. Net effect varies by year; see annual buyback vs SBC bars and the history table.
How has Palo Alto Networks's share count changed?
Diluted weighted average shares changed by about 22.0% over roughly five fiscal years (annual income statement data).
What is Palo Alto Networks's buyback spend?
Latest reported buyback spend for Palo Alto Networks (PANW) is $0 (period ending January 31, 2026).
How has Palo Alto Networks buyback spend changed year-over-year?
Palo Alto Networks (PANW) buyback spend changed -100.0% year-over-year on the latest annual filing.
What is the long-term growth rate of Palo Alto Networks buyback spend?
Palo Alto Networks (PANW) buyback spend compound annual growth rate is -100.0% over the most recent 5 years available.
When did Palo Alto Networks buyback spend hit its highest annual value?
Palo Alto Networks buyback spend reached its highest annual value of $1.20B in 2020.
What was Palo Alto Networks buyback spend in 2024?
Palo Alto Networks (PANW) buyback spend in 2024 was $566.70M.
What was Palo Alto Networks buyback spend in 2025?
Palo Alto Networks (PANW) buyback spend in 2025 was $0.
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