Question 1

What is Palo Alto Networks's P/B ratio?

Accepted Answer

Palo Alto Networks (PANW) P/B ratio is 9.0× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Palo Alto Networks?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Palo Alto Networks specifically, the relevant sector benchmark is the current sector median of 5.6×.

Question 5

Is Palo Alto Networks's P/B ratio high or low?

Accepted Answer

Palo Alto Networks's P/B ratio of 9.0× is below its own 5-year average of 73.7× and above the sector median of 5.6×. That places the current reading at the 2th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Palo Alto Networks's historical P/B ratio range?

Accepted Answer

In the available daily series, Palo Alto Networks (PANW) P/B ratio has ranged from a low of 7.0× in 2026 to a high of 524.1× in 2022. The 5-year average is 73.7× and the 5-year median is 29.8×.

Question 7

What was Palo Alto Networks's P/B ratio in 2025?

Accepted Answer

Palo Alto Networks (PANW) P/B ratio at the end of 2025 was 14.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Palo Alto Networks's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$116B	$7.82B	14.9×	-7.4×	Jul 31, 2025
2024	$115B	$5.17B	22.2×	-21.6×	Jul 31, 2024
2023	$76.7B	$1.75B	43.9×	-227.1×	Jul 31, 2023
2022	$56.9B	$210M	271.0×	+220.2×	Jul 31, 2022
2021	$38.8B	$764M	50.8×	+28.5×	Jul 31, 2021
2020	$24.6B	$1.1B	22.3×	+8.6×	Jul 31, 2020
2019	$21.7B	$1.59B	13.7×	-4.9×	Jul 31, 2019
2018	$18.4B	$988M	18.6×	+2.8×	Jul 31, 2018
2017	$12B	$760M	15.8×	+1.3×	Jul 31, 2017
2016	$11.4B	$790M	14.5×	-12.6×	Jul 31, 2016
2015	$15.6B	$576M	27.1×	+13.7×	Jul 31, 2015
2014	$6.29B	$469M	13.4×	+0.7×	Jul 31, 2014
2013	$3.47B	$272M	12.7×	-3.9×	Jul 31, 2013
2012	$3.81B	$229M	16.6×	—	Jul 31, 2012


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P/B Ratio for Palo Alto Networks (PANW) 2012-2026

P/B Ratio daily chart for Palo Alto Networks (PANW)

Historical P/B Ratio for Palo Alto Networks (PANW) from 2012 to 2025

About P/B Ratio at Palo Alto Networks (PANW)

Palo Alto Networks P/B Ratio by Year

Palo Alto Networks P/B Ratio 2025: 14.9×

Palo Alto Networks P/B Ratio 2024: 22.2×

Palo Alto Networks P/B Ratio 2023: 43.9×

Palo Alto Networks P/B Ratio 2022: 271.0×

Palo Alto Networks P/B Ratio 2021: 50.8×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Palo Alto Networks (PANW) Key Financials