Palo Alto Networks, Inc. (PANW): operating margin, 10 filed years
Operating margin at Palo Alto Networks, Inc. was 6.0% in FY2026, the newest filed year. Across the 10 computed years from FY2017 it ranged from -9.4% (FY2017) to 13.5% (FY2025), with a median of -2.7%.
Tonight's figure on the company page: 6.0%, recomputed 2026-10-15. The table is each filed year on its own terms, with the formula below; the current figure may use trailing twelve months or, where the explainer says so, a different denominator.
Year by year
| Fiscal year | Operating margin | Read from |
|---|---|---|
| FY2017 | -9.4% | 10-K, filed 2017-09-07 |
| FY2018 | -4.6% | 10-K, filed 2018-09-13 |
| FY2019 | -1.9% | 10-K, filed 2019-09-09 |
| FY2020 | -5.3% | 10-K, filed 2020-09-04 |
| FY2021 | -7.2% | 10-K, filed 2021-09-03 |
| FY2022 | -3.4% | 10-K, filed 2022-09-06 |
| FY2023 | 5.6% | 10-K, filed 2023-09-01 |
| FY2024 | 8.5% | 10-K, filed 2024-09-06 |
| FY2025 | 13.5% | 10-K, filed 2025-08-29 |
| FY2026 | 6.0% | 10-K, filed 2026-09-10 |
How each year is computed
Operating income / revenue x 100
Each year is a ratio of lines in that year's filed annual report, with the nightly recompute's own rules for what counts as a filed line. Nothing is estimated, smoothed or filled in: a year that cannot be computed says why.
Read further
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.