TTM
40.5%
YoY change
−1.00pp
Trough year (2009)
-109.1%
Peak year (2016)
42.5%
Latest annual
37.6%
FCF Margin history chart for Palo Alto Networks (PANW) from 2009 to 2025
Latest: 37.6%
FCF Margin change chart for Palo Alto Networks (PANW) from 2009 to 2025
Latest: −1.00pp
FCF Margin history table for Palo Alto Networks (PANW) from 2009 to 2025
| 2025 | 37.6% | -1.00pp | ||
| 2024 | 38.6% | +0.45pp | ||
| 2023 | 38.2% | +5.60pp | ||
| 2022 | 32.6% | -0.02pp | ||
| 2021 | 32.6% | +8.49pp | ||
| 2020 | 24.1% | -7.78pp | ||
| 2019 | 31.9% | -8.81pp | ||
| 2018 | 40.7% | +0.67pp | ||
| 2017 | 40.0% | -2.45pp | ||
| 2016 | 42.5% | +8.38pp | ||
| 2015 | 34.1% | +25.36pp | ||
| 2014 | 8.7% | -14.50pp | ||
| 2013 | 23.2% | -1.37pp | ||
| 2012 | 24.6% | +8.51pp | ||
| 2011 | 16.1% | +25.06pp | ||
| 2010 | -9.0% | +100.15pp | ||
| 2009 | -109.1% | — |
- 202537.6%-1.00pp
- 202438.6%+0.45pp
- 202338.2%+5.60pp
- 202232.6%-0.02pp
- 202132.6%+8.49pp
- 202024.1%-7.78pp
- 201931.9%-8.81pp
- 201840.7%+0.67pp
- 201740.0%-2.45pp
- 201642.5%+8.38pp
- 201534.1%+25.36pp
- 20148.7%-14.50pp
- 201323.2%-1.37pp
- 201224.6%+8.51pp
- 201116.1%+25.06pp
- 2010-9.0%+100.15pp
- 2009-109.1%—
FCF Margin values are taken from Palo Alto Networks's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About FCF Margin at Palo Alto Networks (PANW)
According to Palo Alto Networks's latest reported financial statements, the company's latest reported free cash flow margin is 40.5%. Free cash flow margin is free cash flow divided by revenue — the share of each sales dollar that converts into cash after capital expenditures. Because free cash flow cannot be inflated by non-cash accounting, FCF margin is a clean read on how efficiently a business turns revenue into deployable cash.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
Palo Alto Networks (PANW) most recent annual free cash flow margin stands at 37.63% (2025) – contracted 1.0 percentage points year-over-year.
The highest annual free cash flow margin of 42.48% was reported in 2016. The lowest in the available history was -109.11% in 2009.
Palo Alto Networks FCF Margin by Year
Palo Alto Networks FCF Margin 2025: 37.6%
Palo Alto Networks posted free cash flow margin of 37.63% in 2025, contracted 1.0 percentage points from 2024.
Palo Alto Networks FCF Margin 2024: 38.6%
In 2024, Palo Alto Networks reported free cash flow margin of 38.63%, expanded 0.5 percentage points from 2023.
Palo Alto Networks FCF Margin 2023: 38.2%
Palo Alto Networks free cash flow margin in 2023 was 38.17%, expanded 5.6 percentage points from 2022.
Palo Alto Networks FCF Margin 2022: 32.6%
2022's free cash flow margin for Palo Alto Networks came in at 32.57%, contracted 0.0 percentage points from 2021.
Palo Alto Networks FCF Margin 2021: 32.6%
Palo Alto Networks free cash flow margin in 2021 was 32.59%.
See more financial history for Palo Alto Networks (PANW).
Sector peers by FCF Margin
Technology peers of Palo Alto Networks (PANW), ranked by their latest free cash flow margin
| 47.0% | |
| 43.4% | |
| 28.6% | |
| 26.6% | |
| 25.5% | |
| 22.9% | |
| 22.9% | |
| 17.7% |
- 47.0%
- 43.4%
- 28.6%
- 26.6%
- 25.5%
- 22.9%
- 22.9%
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