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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- Common-Size Income Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Return on Assets (ROA) since 2012
- Current Ratio since 2012
- Price to Earnings (P/E) since 2012
- Price to Operating Profit (P/OP) since 2012
- Analysis of Debt
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Palo Alto Networks Inc., consolidated balance sheet: assets
US$ in thousands
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).
- Cash and Cash Equivalents
- Cash and cash equivalents showed a declining trend from 2,958,000 thousand US dollars in 2020 to a low point of 1,135,300 thousand in 2023, followed by a recovery to 2,268,600 thousand in 2025. This indicates fluctuations in liquidity, with a notable depletion mid-period and subsequent replenishment.
- Short-term Investments
- Short-term investments increased from 789,800 thousand in 2020 to a peak of 1,516,000 thousand in 2022, then gradually declined to 634,600 thousand by 2025. This suggests a strategic reduction in short-term investment holdings after the peak year.
- Accounts Receivable, Net
- Accounts receivable demonstrated consistent growth over the years, rising from 1,037,100 thousand in 2020 to 2,965,000 thousand in 2025, reflecting expanding sales or services provided on credit and potentially increasing customer base or revenue scale.
- Short-term Financing Receivables, Net
- These receivables appeared starting 2021, rising notably from 79,000 thousand to 725,900 thousand in 2024, with a slight decrease to 714,600 thousand in 2025, indicating an increasing focus on short-term financing activities.
- Short-term Deferred Contract Costs
- There was steady growth in deferred contract costs, increasing from 206,000 thousand in 2020 to 419,500 thousand in 2025, signifying higher contract acquisition or fulfillment costs allocated over time.
- Prepaid Expenses and Other Current Assets
- These assets increased substantially from 138,300 thousand in 2020 to a peak of 557,400 thousand in 2024, before a moderate decrease to 520,500 thousand in 2025, highlighting rising prepaid obligations or other current assets commitments.
- Current Assets
- Overall current assets grew from 5,129,200 thousand in 2020 to 7,522,800 thousand in 2025, demonstrating an increasing capacity to cover short-term obligations, despite some fluctuations.
- Property and Equipment, Net
- This category remained relatively stable with minor fluctuations, ending with a slight increase from 348,100 thousand in 2020 to 387,300 thousand in 2025, indicating investment in or maintenance of fixed assets.
- Operating Lease Right-of-Use Assets
- These assets remained stable initially, dipping to 242,000 thousand in 2022, then rising to 385,900 thousand in 2024 with a slight drop in 2025 to 347,000 thousand, suggesting changes in leasing arrangements.
- Long-term Investments
- Long-term investments showed strong growth from 554,400 thousand in 2020 to 5,555,600 thousand in 2025, underscoring a strategic emphasis on long-term asset accumulation or diversification of investment portfolio.
- Long-term Financing Receivables, Net
- Starting from 194,300 thousand in 2021, these receivables expanded significantly to 1,182,100 thousand in 2024 before a slight decline to 1,002,300 thousand in 2025, indicating increased long-term financing engagements.
- Long-term Deferred Contract Costs
- These costs rose gradually from 422,300 thousand in 2020 to 585,900 thousand in 2025, reflecting consistent capitalized contract costs over the period.
- Goodwill
- Goodwill increased markedly from 1,812,900 thousand in 2020 to 4,566,600 thousand in 2025, indicating acquisitions or investments in intangible assets that represent future economic benefits.
- Intangible Assets, Net
- Intangible assets showed fluctuation, peaking at 498,600 thousand in 2021, declining to 315,400 thousand in 2023, and rising sharply again to 762,700 thousand in 2025. This pattern suggests amortization effects and new intangible asset recognition.
- Deferred Tax Assets
- Deferred tax assets were absent until 2023, when they appeared at 23,100 thousand, rapidly increasing to about 2,424,200 thousand in 2025, signaling significant deferred tax benefits recognized late in the reporting periods.
- Other Assets
- Other assets steadily increased over the period from 181,600 thousand in 2020 to 421,800 thousand in 2025, indicating gradual accumulation of miscellaneous asset categories.
- Long-term Assets
- Long-term assets showed substantial growth, nearly quadrupling from 3,936,200 thousand in 2020 to 16,053,400 thousand in 2025, driven by increases in goodwill, long-term investments, and deferred tax assets.
- Total Assets
- Total assets experienced consistent expansion, rising from 9,065,400 thousand in 2020 to 23,576,200 thousand in 2025, reflecting overall company growth in asset base, both current and long term.