Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
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- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Return on Equity (ROE) since 2012
- Current Ratio since 2012
- Price to Operating Profit (P/OP) since 2012
- Price to Sales (P/S) since 2012
- Analysis of Revenues
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Palo Alto Networks Inc., consolidated statement of comprehensive income
US$ in thousands
Based on: 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), 10-K (reporting date: 2019-07-31).
The financial data reveals significant fluctuations and notable trends in profitability and comprehensive income over the examined periods.
- Net Income (Loss)
- Net income exhibits a highly volatile pattern. Initially, losses increased sharply from -81,900 thousand USD in 2019 to a peak loss of -498,900 thousand USD in 2021. This loss decreased substantially in 2022 to -267,000 thousand USD. From 2022 onwards, there was a marked turnaround with net income entering positive territory, reaching 439,700 thousand USD in 2023 and surging further to 2,577,600 thousand USD by 2024, indicating a significant improvement in profitability.
- Unrealized Gains and Losses on Investments
- Unrealized gains and losses on investments also show considerable variability. The values fluctuated mildly in 2019 and 2020, followed by a decline to -3,000 thousand USD in 2021 and a more pronounced drop to -25,000 thousand USD in 2022. This was succeeded by a smaller loss in 2023 (-13,000 thousand USD) and a strong rebound to positive 48,200 thousand USD in 2024, indicating that investment valuations improved considerably in the most recent year.
- Unrealized Gains and Losses
- This category echoes a similar pattern, with gains rising from 2,300 thousand USD in 2019 to a peak of 8,300 thousand USD in 2020, then sharply declining to -54,000 thousand USD in 2022. The loss narrowed substantially in 2023 (-200 thousand USD) but worsened again to -18,900 thousand USD in 2024, reflecting ongoing volatility in other unrealized components.
- Net Realized (Gains) Losses Reclassified into Earnings
- There is an emerging pattern of realized gains and losses being reclassified into earnings. After no reported data in 2019, losses of 18,500 thousand USD appeared in 2021, followed by realized gains of 33,300 thousand USD in 2022 and smaller gains in 2023 and 2024 (25,600 and 12,300 thousand USD respectively), suggesting a tempering of realized losses and improved earnings impact.
- Net Change on Cash Flow Hedges
- The net changes on cash flow hedges present oscillations, peaking at 13,200 thousand USD in 2020, declining to significant losses by 2021 and 2022 (-17,400 and -20,700 thousand USD), recovering to a gain of 25,400 thousand USD in 2023 before slipping back to a loss of 6,600 thousand USD in 2024. This indicates exposure to hedge-related fluctuations affecting overall income components.
- Other Comprehensive Income (Loss), Net of Tax
- Other comprehensive income has varied substantially, starting with gains of around 12,700 to 14,200 thousand USD in 2019 and 2020. This shifted to losses in 2021 and 2022 (-20,400 and -45,700 thousand USD), followed by a return to positive territory with 12,400 thousand USD in 2023 and an increase to 41,600 thousand USD in 2024, reflecting recovery in non-operating comprehensive items net of taxes.
- Comprehensive Income (Loss)
- Comprehensive income mirrors the net income trend but with amplified absolute values. It declined from -69,200 thousand USD in 2019 to a low of -519,300 thousand USD in 2021, then partially recovered in 2022 (-312,700 thousand USD). This was followed by a strong positive shift in 2023 (452,100 thousand USD) and a pronounced gain in 2024 (2,619,200 thousand USD), highlighting the combined effect of improved net income and positive changes in comprehensive income components.
Overall, the data illustrates a transformation from sustained losses over the initial years toward robust profitability and enhanced comprehensive income in the latest reporting periods. This positive trend appears supported by substantial improvements in net income alongside favorable shifts in investment valuations and other comprehensive income elements, despite ongoing volatility in unrealized gains/losses and hedge accounting effects.