Price to Book Value (P/BV)
since 2012
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Palo Alto Networks Inc. pages available for free this week:
- Income Statement
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Net Profit Margin since 2012
- Operating Profit Margin since 2012
- Price to Operating Profit (P/OP) since 2012
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Calculation
Palo Alto Networks Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep 10, 2026 | = | ÷ | = | ÷ | |||||||
| Aug 29, 2025 | = | ÷ | = | ÷ | |||||||
| Sep 6, 2024 | = | ÷ | = | ÷ | |||||||
| Sep 1, 2023 | = | ÷ | = | ÷ | |||||||
| Sep 6, 2022 | = | ÷ | = | ÷ | |||||||
| Sep 3, 2021 | = | ÷ | = | ÷ | |||||||
| Sep 4, 2020 | = | ÷ | = | ÷ | |||||||
| Sep 9, 2019 | = | ÷ | = | ÷ | |||||||
| Sep 13, 2018 | = | ÷ | = | ÷ | |||||||
| Sep 7, 2017 | = | ÷ | = | ÷ | |||||||
| Sep 8, 2016 | = | ÷ | = | ÷ | |||||||
| Sep 17, 2015 | = | ÷ | = | ÷ | |||||||
| Sep 18, 2014 | = | ÷ | = | ÷ | |||||||
| Sep 25, 2013 | = | ÷ | = | ÷ | |||||||
| Oct 4, 2012 | = | ÷ | = | ÷ |
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), 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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Palo Alto Networks Inc. Annual Report.
The analysis of the Price to Book Value (P/BV) ratio reveals a trajectory characterized by moderate volatility in the first decade, followed by an extreme valuation spike and a subsequent period of normalization.
- Share Price Trajectory
- A consistent long-term upward trend in share price is observed, rising from 10.96 in 2012 to 338.49 by 2026. Significant accelerations in market price occurred between 2020 and 2021, and again between 2025 and 2026.
- Book Value per Share (BVPS) Dynamics
- The book value per share exhibited instability between 2012 and 2022, reaching a critical low of 0.35 in 2022. However, a substantial recovery is evident from 2023 onward, with BVPS expanding rapidly to 33.61 by 2026, indicating a significant accumulation of net assets.
- P/BV Ratio Anomalies
- The P/BV ratio remained relatively contained between 12.19 and 32.11 from 2012 through 2020. A severe divergence occurred in 2021 and 2022, where the ratio surged to 71.88 and peaked at 252.00. This spike was driven by the simultaneous increase in share price and a sharp contraction in book value.
- Valuation Convergence
- Following the 2022 peak, a strong downward trend in the P/BV ratio is observed. The ratio compressed from 42.84 in 2023 to 10.07 by 2026. This decline is attributed to the book value growing at a pace that outstripped the growth of the share price during this final interval, resulting in the lowest valuation multiple of the entire period analyzed.
Comparison to Competitors
Palo Alto Networks Inc., P/BV, long-term trends, comparison to competitors
| Palo Alto Networks Inc. | Accenture PLC | Adobe Inc. | AppLovin Corp. | Cadence Design Systems Inc. | Datadog Inc. | International Business Machines Corp. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep 10, 2026 | |||||||||||||||
| Aug 29, 2025 | |||||||||||||||
| Sep 6, 2024 | |||||||||||||||
| Sep 1, 2023 | |||||||||||||||
| Sep 6, 2022 | |||||||||||||||
| Sep 3, 2021 | |||||||||||||||
| Sep 4, 2020 | |||||||||||||||
| Sep 9, 2019 | |||||||||||||||
| Sep 13, 2018 | |||||||||||||||
| Sep 7, 2017 | |||||||||||||||
| Sep 8, 2016 | |||||||||||||||
| Sep 17, 2015 | |||||||||||||||
| Sep 18, 2014 | |||||||||||||||
| Sep 25, 2013 | |||||||||||||||
| Oct 4, 2012 |
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), 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., P/BV, long-term trends, comparison to sector (software & services)
| Palo Alto Networks Inc. | Software & Services | |
|---|---|---|
| Sep 10, 2026 | ||
| Aug 29, 2025 | ||
| Sep 6, 2024 | ||
| Sep 1, 2023 | ||
| Sep 6, 2022 | ||
| Sep 3, 2021 | ||
| Sep 4, 2020 | ||
| Sep 9, 2019 | ||
| Sep 13, 2018 | ||
| Sep 7, 2017 | ||
| Sep 8, 2016 | ||
| Sep 17, 2015 | ||
| Sep 18, 2014 | ||
| Sep 25, 2013 | ||
| Oct 4, 2012 |
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), 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., P/BV, long-term trends, comparison to industry (information technology)
| Palo Alto Networks Inc. | Information Technology | |
|---|---|---|
| Sep 10, 2026 | ||
| Aug 29, 2025 | ||
| Sep 6, 2024 | ||
| Sep 1, 2023 | ||
| Sep 6, 2022 | ||
| Sep 3, 2021 | ||
| Sep 4, 2020 | ||
| Sep 9, 2019 | ||
| Sep 13, 2018 | ||
| Sep 7, 2017 | ||
| Sep 8, 2016 | ||
| Sep 17, 2015 | ||
| Sep 18, 2014 | ||
| Sep 25, 2013 | ||
| Oct 4, 2012 |
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), 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).