What is the 13F Pro Quality Score for PANW?

13F Pro ranks Palo Alto Networks Inc (PANW) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View PANW's current score at https://13fpro.ai/company/PANW (free sign-up required for the full ranking).

Which hedge funds own the most PANW stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of PANW include BlackRock,, VANGUARD CAPITAL MANAGEMENT, STATE STREET. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/PANW as soon as new 13F filings post.

Where does 13F Pro source PANW data?

All Palo Alto Networks Inc fundamentals and ownership data come directly from SEC EDGAR. Palo Alto Networks Inc files with the SEC under CIK 1327567. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is PANW in?

Palo Alto Networks Inc (PANW) is classified in the Technology sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/technology.

What drives PANW's revenue?

Per Palo Alto Networks Inc's latest 10-K filed with the SEC on 2026-09-10, the biggest revenue drivers are: Subscription and support ($9.2B, +24% YoY); Product ($2.3B, +27% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/PANW.

What are PANW's largest expenses?

Palo Alto Networks Inc's latest 10-K reports these as the largest expense items: Sales and marketing ($3.9B, +27% YoY); Research and development ($2.6B, +29% YoY); Cost of subscription and support revenue ($2.8B, +39% YoY). Sourced directly from SEC EDGAR filing text for FY2026 (year ended July 31, 2026).

How often is PANW research updated on 13F Pro?

PANW's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Palo Alto Networks Inc(PANW)Stock Analysis

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13F Pro Quality Score

65.5/100

Rank #476 of 2,961 stocksTOP 25%

View Technology peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

79.4/100

Profitability

30.0/100

Balance Sheet

41.1/100

Earnings Quality

94.2/100

Free Cash Flow

88.6/100

Institutional Flow

87.9/100

Revenue Scale

87.6/100

Dilution Risk

11.6/100

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Why PANW Scores 66/100

exact factor attribution · 2026-09-11

PANW's composite is driven by revenue growth and free cash flow, held back by profitability and earnings growth. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Revenue growth

+5.9 pts

79th pct

Free cash flow

+5.8 pts

89th pct

Scale

+5.6 pts

88th pct

Earnings quality

+4.4 pts

94th pct

Institutional flow

+1.9 pts

88th pct

▲2

Capital efficiency

-0.9 pts

41th pct

Shareholder dilution

-1.9 pts

12th pct

Earnings growth

-2.3 pts

4th pct

Profitability

-3.0 pts

30th pct

Latest change (2026-09-10): 69 → 65 · ↓ Profit margin 43→30; ↓ Capital efficiency 56→40

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

PANW Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for Palo Alto Networks Inc (PANW), a Technology sector company. 13F Pro's AI-powered ranking engine scores PANW at 65.5/100 on a 32-signal composite quality model, placing it at rank #476 of 2,961 stocks — the top 25% of the AI-ranked universe. PANW scores in the top quartile across earnings quality (94.2), free cash flow (88.6), institutional flow (87.9). Areas of concern include profitability (30.0), which score below median versus the broader universe. Shareholder dilution risk is elevated at 11.6/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Palo Alto Networks Inc reports quarterly revenue of $3.4B, net income of $-282.0M, an operating margin of 5.0%. Top institutional holders of PANW by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. PANW trades on the Nasdaq exchange and files with the SEC under CIK 1327567. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate PANW daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Palo Alto Networks Inc directly from SEC EDGAR. Palo Alto Networks Inc's 13F Pro composite quality score has ranged between 52 and 85 since 2021, currently 65.5 — an improving long-term trajectory across 68 quarterly and live scoring snapshots.

✦

Fun facts about Palo Alto Networks Inc

Quirks, history, and lore behind PANW — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. enterprise technology company · large-cap · listed on Nasdaq · headquartered in California's Silicon Valley.
2
The Numbers
Annual revenue around $8 billion and growing fast — yet it spent years posting net losses while Wall Street cheered, because the Street loves a good cybersecurity growth story.
3
The History
Founded in 2005 by a former Check Point engineer who named the company after a mountain range — because apparently firewalls weren't dramatic enough already.
4
The Secret
Its big strategic bet is platformization — convincing customers to ditch their patchwork of security vendors and consolidate everything onto one integrated cloud-native platform.
5
The Lore
Its Cortex and Prisma product families have become must-know buzzwords for every enterprise IT team — and its annual Ignite cybersecurity conference is basically the Super Bowl for people who love zero-trust architecture.
6
The Giveaway
Named after a Northern California mountain range, this is the company that turned next-generation firewalls into a multi-billion-dollar empire — ticker: PANW.

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What's Driving PANW's Business? Latest 10-K Breakdown

AI-extracted from Palo Alto Networks Inc's 10-K filed 2026-09-10 — FY2026 (year ended July 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Palo Alto Networks revenue grew 24% YoY to $11.5B in FY2026, driven by subscription growth to $9.2B and major acquisitions including CyberArk and Chronosphere, but operating margin compressed to 6.1% from 13.5% due to acquisition-related costs.

Biggest Revenue Drivers

Subscription and support$9.2B+24% YoY

Increased demand for subscription and support offerings from end-customers, including from CyberArk and Chronosphere acquisitions.

Product$2.3B+27% YoY

Increased revenue from software licenses including CyberArk acquisition and increased demand for new generation hardware products.

Biggest Revenue Drivers

Total revenue: $11.5B+24% YoY

Subscription and support$9.2B+24% YoY

Increased demand for subscription and support offerings from end-customers, including from CyberArk and Chronosphere acquisitions.

Product$2.3B+27% YoY

Increased revenue from software licenses including CyberArk acquisition and increased demand for new generation hardware products.

Largest Expense Items

Sales and marketing$3.9B+27% YoY

Increased personnel costs from headcount growth including acquisitions, plus higher amortization of intangible assets.

Research and development$2.6B+29% YoY

Increased personnel costs largely due to headcount growth including from acquisitions.

Cost of subscription and support revenue$2.8B+39% YoY

Higher cloud hosting costs, amortization of intangible assets from fiscal 2026 acquisitions, and personnel costs from headcount growth.

Margins: Gross margin declined to 70.4% from 73.4% YoY, driven by higher amortization of intangible assets from acquisitions, increased cloud hosting costs, and supply chain challenges impacting hardware margins. Operating margin compressed significantly to 6.1% from 13.5% due to substantial increases in operating expenses, particularly from acquisition integration costs and headcount growth.

Watch Items from the Filing

Two distributors represented 30% of total revenue in FY2026; one distributor represented 19% of gross accounts receivable as of July 31, 2026, creating significant revenue concentration risk.
CyberArk acquisition integration poses execution risk; full benefits and synergies may not be realized as expected, with complex process creating operational disruption potential.
NGS ARR grew to $9.1B from $5.6B, demonstrating strong underlying business momentum in recurring revenue base despite macro headwinds.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-K on SEC EDGAR →Share on X

Revenue

Q2 2026

$3.4B

Net Income

Q2 2026

$-282.0M

Free Cash Flow

Q2 2026

$1.3B

Operating Margin

Q2 2026

5.0%

ROIC

Q2 2026

2.5%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+24.5% YoY

$11.48BFY 2026

FY23 $6.89BFY24 $8.03BFY25 $9.22BFY26 $11.48B

Net Income

-72.9% YoY

$307.0MFY 2026

FY23 $439.7MFY24 $2.58BFY25 $1.13BFY26 $307.0M

Operating Income

-44.1% YoY

$695.0MFY 2026

FY23 $387.3MFY24 $684.0MFY25 $1.24BFY26 $695.0M

EPS (Diluted)

-75.0% YoY

$0.40FY 2026

FY23 $0.32FY24 $1.82FY25 $1.60FY26 $0.40

Total Assets

+105.5% YoY

$48.46BFY 2026

FY23 $14.50BFY24 $19.99BFY25 $23.58BFY26 $48.46B

Total Debt

—FY 2026

FY23 $1.99BFY24 —FY25 —FY26 —

Op. Cash Flow

+22.5% YoY

$4.55BFY 2026

FY23 $2.78BFY24 $3.26BFY25 $3.72BFY26 $4.55B

Free Cash Flow

+18.6% YoY

$4.11BFY 2026

FY23 $2.63BFY24 $3.10BFY25 $3.47BFY26 $4.11B

Metric	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Revenue	$11.48B +24.5%	$9.22B +14.9%	$8.03B +16.5%	$6.89B +25.3%	$5.50B +29.3%	$4.26B
Net Income	$307.0M -72.9%	$1.13B -56.0%	$2.58B +486.3%	$439.7M +264.7%	$-267.0M +46.5%	$-498.9M
Operating Income	$695.0M -44.1%	$1.24B +81.7%	$684.0M +76.6%	$387.3M +305.1%	$-188.8M +37.9%	$-304.1M
EPS (Diluted)	$0.40 -75.0%	$1.60 -12.1%	$1.82 +468.8%	$0.32 +313.3%	$-0.15 +48.0%	$-0.29
Total Assets	$48.46B +105.5%	$23.58B +17.9%	$19.99B +37.9%	$14.50B +18.3%	$12.25B +19.6%	$10.24B
Total Debt	—	—	—	$1.99B -45.8%	$3.68B +14.0%	$3.23B
Operating Cash Flow	$4.55B +22.5%	$3.72B +14.1%	$3.26B +17.3%	$2.78B +39.9%	$1.98B +32.0%	$1.50B
Free Cash Flow	$4.11B +18.6%	$3.47B +11.9%	$3.10B +17.9%	$2.63B +46.8%	$1.79B +29.2%	$1.39B

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13F Pro tracks comprehensive data for Palo Alto Networks Inc including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of PANW

BlackRock, Inc.
$25.8B75,753,509 sh
VANGUARD CAPITAL MANAGEMENT LLC
$18.1B53,129,128 sh
STATE STREET CORP
$12.6B36,979,497 sh
MORGAN STANLEY
$10.0B29,450,112 sh
Invesco Ltd.
$8.7B25,647,946 sh
BANK OF AMERICA CORP /DE/
$7.7B22,681,876 sh
JPMORGAN CHASE & CO
$7.2B21,715,578 sh
FMR LLC
$6.8B20,054,462 sh
GEODE CAPITAL MANAGEMENT, LLC
$6.7B19,615,573 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$6.6B19,347,649 sh

Fund	Value	Shares
BlackRock, Inc.	$25.8B	75,753,509
VANGUARD CAPITAL MANAGEMENT LLC	$18.1B	53,129,128
STATE STREET CORP	$12.6B	36,979,497
MORGAN STANLEY	$10.0B	29,450,112
Invesco Ltd.	$8.7B	25,647,946
BANK OF AMERICA CORP /DE/	$7.7B	22,681,876
JPMORGAN CHASE & CO	$7.2B	21,715,578
FMR LLC	$6.8B	20,054,462
GEODE CAPITAL MANAGEMENT, LLC	$6.7B	19,615,573
VANGUARD PORTFOLIO MANAGEMENT LLC	$6.6B	19,347,649

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Is PANW a good stock to buy?

13F Pro's AI-powered analysis of Palo Alto Networks Inc (PANW) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Technology sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for PANW are available on the PANW stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. PANW is classified as a mega company.

Which hedge funds own PANW?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling PANW. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Palo Alto Networks Inc's investment landscape.