Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2012
- Price to Operating Profit (P/OP) since 2012
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Palo Alto Networks Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-K (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-K (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-K (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-K (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-K (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-K (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31).
An examination of the balance sheet items reveals notable shifts in liabilities and stockholders’ equity over the observed period. Total liabilities generally increased, with significant fluctuations occurring throughout the timeframe. Stockholders’ equity demonstrated a more volatile pattern, experiencing periods of decline followed by substantial growth, particularly in the later years.
- Accounts Payable
- Accounts payable exhibited variability, generally trending upwards from $75 million in October 2019 to $179 million in January 2024. A subsequent decrease to $109 million in April 2024 was observed, followed by a rise to $262 million by October 2025. This suggests potential fluctuations in the timing of supplier payments or changes in purchasing patterns.
- Accrued Compensation
- Accrued compensation showed a significant increase, particularly between October 2019 and July 2021, peaking at $431 million. It then decreased to $251 million in October 2021 before rising again, reaching $608 million in April 2025. This pattern likely reflects changes in staffing levels, bonus accruals, or timing of payroll disbursements.
- Accrued and Other Liabilities
- Accrued and other liabilities generally increased over the period, moving from $192 million in October 2019 to $937 million in January 2026. The increase was not linear, with some quarterly fluctuations, indicating potential changes in the nature or volume of these accrued expenses.
- Deferred Revenue
- Deferred revenue consistently increased throughout the observed period, rising from $1,659 million in October 2019 to $6,302 million in July 2025, and then slightly decreasing to $6,248 million in January 2026. This consistent growth suggests a strong ability to secure future revenue commitments from customers.
- Convertible Senior Notes
- The current portion of convertible senior notes fluctuated significantly, peaking at $3,680 million in January 2023 before decreasing substantially to $383 million in April 2025. The long-term portion also showed considerable change, with a peak in July 2020 and a subsequent decrease, followed by a rise again in later periods. These movements likely reflect the maturity and conversion of these notes.
- Total Liabilities
- Total liabilities increased substantially from $5,308 million in October 2019 to $15,586 million in January 2026. The most significant increase occurred between 2020 and 2022, driven largely by increases in deferred revenue and convertible senior notes. The rate of increase slowed in later periods.
- Stockholders’ Equity
- Stockholders’ equity experienced a more complex trajectory. It initially decreased from $1,516 million in October 2019 to $519 million in July 2021, then increased dramatically to $9,393 million in January 2026. This growth was primarily driven by increases in common stock and additional paid-in capital, particularly after 2022, and a reversal of accumulated losses in retained earnings. Accumulated other comprehensive income (loss) fluctuated, but generally remained relatively small in comparison to other equity components.
The combined effect of these trends resulted in a significant increase in total liabilities, temporary equity, and stockholders’ equity, moving from $6,825 million in October 2019 to $24,979 million in January 2026. The substantial growth in stockholders’ equity in the later years suggests a strengthening financial position, potentially due to successful fundraising activities and improved profitability.