Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Income Statement
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Geographic Areas
- Dividend Discount Model (DDM)
- Current Ratio since 2012
- Price to Operating Profit (P/OP) since 2012
- Analysis of Revenues
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Palo Alto Networks Inc., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2026-07-31), 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).
Total assets experienced an aggressive expansion from US$ 10.24 billion in July 2021 to US$ 48.46 billion by July 2026. This growth trajectory is characterized by a fundamental shift in asset composition, moving from a balance sheet focused on liquid current assets to one dominated by long-term intangible assets and goodwill, particularly in the final reporting period.
- Current Asset Liquidity and Receivables
- Current assets grew steadily from US$ 4.65 billion in 2021 to US$ 8.64 billion in 2026. While cash and cash equivalents showed a general upward trend to reach US$ 2.51 billion, short-term investments declined significantly from a peak of US$ 1.52 billion in 2022 to US$ 557 million in 2026. Accounts receivable showed the most consistent growth among current assets, increasing from US$ 1.24 billion to US$ 3.63 billion, suggesting a substantial increase in credit sales or extended payment terms.
- Financing and Deferred Contract Costs
- A notable increase in financing receivables is observed; combined short-term and long-term financing receivables rose from US$ 273 million in 2021 to a peak of approximately US$ 1.91 billion in 2024. This indicates a strategic pivot toward providing customer financing. Deferred contract costs, both short-term and long-term, also trended upward, reflecting increased investments in customer acquisition and contract fulfillment.
- Long-term Strategic Investments
- Long-term investments saw a significant increase during the mid-period, rising from US$ 888 million in 2021 to a peak of US$ 5.56 billion in 2025, before moderating to US$ 4.84 billion in 2026. This suggests a period of active capital allocation into non-current financial instruments.
- Impact of Strategic Acquisitions
- The most dramatic change in the asset base occurred between July 2025 and July 2026. Goodwill surged from US$ 4.57 billion to US$ 22.01 billion, and intangible assets increased from US$ 763 million to US$ 7.02 billion. This exponential growth in non-physical assets indicates the execution of one or more major acquisitions that fundamentally redefined the scale of the company's balance sheet.
- Deferred Tax Assets and Other Assets
- Deferred tax assets were negligible until 2023, after which they jumped to US$ 2.40 billion in 2024 and remained stable through 2026. Other assets and property and equipment grew modestly, with property and equipment increasing from US$ 318 million in 2021 to US$ 523 million in 2026, indicating that the company's expansion is primarily driven by intellectual property and acquisitions rather than physical infrastructure.