Debt to Equity
since 2012
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Palo Alto Networks Inc. pages available for free this week:
- 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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Calculation
Palo Alto Networks Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Convertible senior notes, net1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|
| Jul 31, 2024 | = | ÷ | |||
| Jul 31, 2023 | = | ÷ | |||
| Jul 31, 2022 | = | ÷ | |||
| Jul 31, 2021 | = | ÷ | |||
| Jul 31, 2020 | = | ÷ | |||
| Jul 31, 2019 | = | ÷ | |||
| Jul 31, 2018 | = | ÷ | |||
| Jul 31, 2017 | = | ÷ | |||
| Jul 31, 2016 | = | ÷ | |||
| Jul 31, 2015 | = | ÷ | |||
| Jul 31, 2014 | = | ÷ | |||
| Jul 31, 2013 | = | ÷ | |||
| Jul 31, 2012 | = | ÷ |
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), 10-K (reporting date: 2018-07-31), 10-K (reporting date: 2017-07-31), 10-K (reporting date: 2016-07-31), 10-K (reporting date: 2015-07-31), 10-K (reporting date: 2014-07-31), 10-K (reporting date: 2013-07-31), 10-K (reporting date: 2012-07-31).
1 US$ in thousands
- Convertible Senior Notes, Net
- The amount of convertible senior notes experienced a general upward trend from 2015 to 2022, increasing from approximately 467 million USD in 2015 to a peak of about 3.68 billion USD in 2022. This indicates a significant increase in this form of debt financing over this period. However, there was a notable decline in 2023 and 2024, dropping to around 1.99 billion USD and 964 million USD respectively, suggesting debt reduction or repayment activity in the most recent years.
- Stockholders’ Equity
- Stockholders’ equity broadly increased over the period, beginning at approximately 229 million USD in 2012 and reaching a high of about 5.17 billion USD in 2024. The growth was relatively steady with some fluctuations, notably a decline in 2020 to 634 million USD, followed by recovery and substantial growth through 2023 and 2024. The substantial increase towards the end of the period suggests strengthening capital base and possibly accumulated earnings or issuance of equity.
- Debt to Equity Ratio
- The debt to equity ratio displayed considerable volatility through the years. Initially, the ratio was stable at around 1 in 2015 and 2016, decreased to about 0.64 then 0.69 in 2017 and 2018, indicating a conservative leverage position relative to equity. A significant spike occurred from 2019 onwards, reaching an extreme high of 17.51 in 2022, reflecting a peak in leverage primarily driven by increased debt relative to equity. Following this peak, the ratio sharply decreased to 1.14 in 2023 and further to a low 0.19 in 2024, suggesting a strong deleveraging phase and improved equity position relative to debt.
- Overall Insights
- The firm's financial structure evolved notably over the period with an increasing reliance on convertible senior notes up to 2022, followed by a marked reduction. Concurrently, stockholders’ equity saw a significant upward trend, especially in the latter years, indicating improved financial stability and capacity for absorbing liabilities. The dramatic fluctuations in the debt to equity ratio highlight periods of changing leverage strategies, with the firm reaching a peak leverage in 2022 before markedly reducing debt load in 2023 and 2024. This could suggest strategic debt management and shifting capital structure priorities towards lower financial risk in recent years.
Comparison to Competitors
Palo Alto Networks Inc., debt to equity, long-term trends, comparison to competitors
| Palo Alto Networks Inc. | Accenture PLC | Adobe Inc. | Cadence Design Systems Inc. | CrowdStrike Holdings Inc. | Fair Isaac Corp. | International Business Machines Corp. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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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), 10-K (reporting date: 2018-07-31), 10-K (reporting date: 2017-07-31), 10-K (reporting date: 2016-07-31), 10-K (reporting date: 2015-07-31), 10-K (reporting date: 2014-07-31), 10-K (reporting date: 2013-07-31), 10-K (reporting date: 2012-07-31).
Comparison to Sector (Software & Services)
Palo Alto Networks Inc., debt to equity, long-term trends, comparison to sector (software & services)
| Palo Alto Networks Inc. | Software & Services | |
|---|---|---|
| Jul 31, 2024 | ||
| Jul 31, 2023 | ||
| Jul 31, 2022 | ||
| Jul 31, 2021 | ||
| Jul 31, 2020 | ||
| Jul 31, 2019 | ||
| Jul 31, 2018 | ||
| Jul 31, 2017 | ||
| Jul 31, 2016 | ||
| Jul 31, 2015 | ||
| Jul 31, 2014 | ||
| Jul 31, 2013 | ||
| Jul 31, 2012 |
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), 10-K (reporting date: 2018-07-31), 10-K (reporting date: 2017-07-31), 10-K (reporting date: 2016-07-31), 10-K (reporting date: 2015-07-31), 10-K (reporting date: 2014-07-31), 10-K (reporting date: 2013-07-31), 10-K (reporting date: 2012-07-31).
Comparison to Industry (Information Technology)
Palo Alto Networks Inc., debt to equity, long-term trends, comparison to industry (information technology)
| Palo Alto Networks Inc. | Information Technology | |
|---|---|---|
| Jul 31, 2024 | ||
| Jul 31, 2023 | ||
| Jul 31, 2022 | ||
| Jul 31, 2021 | ||
| Jul 31, 2020 | ||
| Jul 31, 2019 | ||
| Jul 31, 2018 | ||
| Jul 31, 2017 | ||
| Jul 31, 2016 | ||
| Jul 31, 2015 | ||
| Jul 31, 2014 | ||
| Jul 31, 2013 | ||
| Jul 31, 2012 |
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), 10-K (reporting date: 2018-07-31), 10-K (reporting date: 2017-07-31), 10-K (reporting date: 2016-07-31), 10-K (reporting date: 2015-07-31), 10-K (reporting date: 2014-07-31), 10-K (reporting date: 2013-07-31), 10-K (reporting date: 2012-07-31).