Ticker League

Buybacks for Palo Alto Networks (PANW)

TTM repurchases $1.00B · 5Y diluted share change +22.0% · SBC coverage 0.98×.

Analysis

Buyback yield (TTM)

0.76%

Shareholder yield (TTM)

0.76%

5Y share count change

22.0%

Buyback spend (TTM)

$1.00B

Key takeaways

  • Palo Alto Networks (PANW) repurchased about $1.00B of stock over the trailing twelve months.
  • Diluted share count is up 22.0% over the last ~5 fiscal years — equity issuance and stock-based compensation are outpacing repurchases.
  • TTM buyback ÷ stock-based-comp ratio of 0.98× — repurchases only partially offset SBC dilution.
  • Cash buyback spend has compounded at -100.0% per year over the latest 5-year window.
  • TTM repurchases used about 23% of free cash flow remaining after dividends.

Dividend & buyback yield over time for Palo Alto Networks (PANW)

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.

Diluted vs basic shares (annual) for Palo Alto Networks (PANW)

Diluted weighted-average shares are the EPS denominator — a falling count means buybacks are outpacing SBC dilution.

Year-over-year change in diluted shares for Palo Alto Networks (PANW)

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.

Cash buyback spend over time for Palo Alto Networks (PANW)

Latest: $0.00

Overview

In 2025, Palo Alto Networks (PANW) buyback spend totalled $0.00 – 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 $0.00 in 2025, a 100.0% drawdown.

2020 marks the peak buyback spend at $1.20B, with the historical low of $0.00 recorded in 2009.

Palo Alto Networks Buyback Spend 2025: $0.00

Palo Alto Networks buyback spend in 2025 was $0.00, plunged 100.0% below 2024.

Palo Alto Networks Buyback Spend 2024: $566.70M

2024's buyback spend for Palo Alto Networks came in at $566.70M, surged 107.8% from 2023.

Palo Alto Networks Buyback Spend 2023: $272.70M

Palo Alto Networks posted buyback spend of $272.70M in 2023, plunged 69.4% below 2022.

Palo Alto Networks Buyback Spend 2022: $892.30M

In 2022, Palo Alto Networks reported buyback spend of $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).

Buyback, SBC & dilution history

Buyback spend, SBC, net dilution effect, and share count.

  • 2025$0.00
  • 2024$566.70M
  • 2023$272.70M
  • 2022$892.30M
  • 2021$1.18B
  • 2020$1.20B
  • 2019$330.00M
  • 2018$259.10M
  • 2017$411.00M
  • 2016$0.00
  • 2015$0.00
  • 2014$132.00K
  • 2013$2.78M
  • 2012$82.00K
  • 2011$90.00K
  • 2010$24.00K
  • 2009$0.00

Buybacks vs stock-based compensation for Palo Alto Networks (PANW)

Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 0.98×.

Buybacks vs dividends (share of cash returned) for Palo Alto Networks (PANW)

How Palo Alto Networks splits cash returned to shareholders between dividends and buybacks.

Sector peers by buyback spend

Companies in the same sector as Palo Alto Networks, ranked by their latest buyback spend.

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.

TTM buybacks vs headroom (FCF − dividends, TTM)23% of headroom

Headroom $4.29B (TTM FCF − TTM dividends, clamped at zero).

Frequently asked questions

Data & methodology

Explore more

Deep-dives across the income statement, cash flow, capital return, and valuation