Analysis of Revenues
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- Income Statement
- Common-Size Income Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Selected Financial Data since 2012
- Net Profit Margin since 2012
- Operating Profit Margin since 2012
- Price to Earnings (P/E) since 2012
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Revenues as Reported
Palo Alto Networks Inc., income statement, revenues
US$ in thousands
| 12 months ended: | Jul 31, 2025 | Jul 31, 2024 | Jul 31, 2023 | Jul 31, 2022 | Jul 31, 2021 | Jul 31, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Product | |||||||||||||
| Subscription | |||||||||||||
| Support | |||||||||||||
| Subscription and support | |||||||||||||
| Revenue |
Based on: 10-K (reporting date: 2025-07-31), 10-K (reporting date: 2024-07-31), 10-K (reporting date: 2023-07-31), 10-K (reporting date: 2022-07-31), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-31).
- Product Revenue
- The product revenue demonstrates a consistent upward trend over the analyzed periods. Starting from approximately 1,064,200 thousand US dollars in 2020, it rises each year, reaching an estimated 1,801,900 thousand US dollars by 2025. Growth between each consecutive period ranges from moderate to significant, with particularly notable increases between 2021 and 2023. The rate of growth appears to moderate slightly in the last two forecasted periods but remains positive.
- Subscription Revenue
- Subscription revenue shows robust and accelerating growth throughout the entire timeframe. Beginning at 1,405,300 thousand US dollars in 2020, this revenue more than triples by 2025, reaching an estimated 4,974,400 thousand US dollars. The increments escalate steadily year-over-year, indicating strong market adoption and recurring revenue strength. This segment presents the largest absolute increase among all revenue categories.
- Support Revenue
- Support revenue consistently increases across the periods, starting at 938,900 thousand US dollars in 2020 and projected to grow to 2,445,200 thousand US dollars by 2025. Growth appears steady and linear, with no apparent volatility or decline. The expansion reflects a stable and reliable stream contributing significantly to total revenue.
- Subscription and Support Combined
- The combined subscription and support revenue category experiences a strong, continuous growth trend, beginning at approximately 2,344,200 thousand US dollars in 2020 and rising to an estimated 7,419,600 thousand US dollars in 2025. The increase is substantial year over year, underscoring the growing importance of recurring revenue components within the overall business model.
- Total Revenue
- Total revenue steadily expands from 3,408,400 thousand US dollars in 2020 to a forecasted 9,221,500 thousand US dollars in 2025. The trend is characterized by marked acceleration in overall revenue growth, driven predominantly by the robust increases in subscription and support revenues, complemented by sustained product revenue growth. The data suggests a business increasingly reliant on and successful in expanding its recurring revenue streams.