Price to Book Value (P/BV)
since 2012
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Palo Alto Networks Inc. pages available for free this week:
- 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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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 thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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: 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.
- Share Price Trend
- The share price exhibited notable volatility over the analyzed period. Initially, the price was relatively modest at $10.96 in late 2012 before experiencing a decline to $7.72 in 2013. Subsequently, the share price moved upward, peaking at $39.35 in 2018, followed by a brief dip to $35.20 in 2019. Thereafter, a strong upward momentum was observed, culminating in a peak of $190.52 by mid-2025. The share price growth post-2020 is particularly pronounced, nearly quintupling from $39.28 to $190.52 over five years.
- Book Value per Share (BVPS) Trend
- BVPS showed generally positive growth with some fluctuations. Starting at $0.56 in 2012, it gradually increased to $1.72 by 2018, though with some intermediate declines, such as between 2018 and 2021 when it dropped to as low as $0.35. Notably, after 2021, BVPS rebounded sharply, reaching $11.70 in 2025. This suggests an overall strengthening of the company's net asset base per share in recent years.
- Price to Book Value (P/BV) Ratio Analysis
- The P/BV ratio demonstrated significant fluctuation across the period. Starting at 19.49 in 2012, the ratio declined to a low of 12.19 in 2013 but then surged to as high as 32.11 in 2015. Following this peak, the ratio varied widely, reaching an extreme high of 252 in 2022, which is indicative of substantial market price increases relative to book value at that time, possibly signalling market expectations of future growth or overvaluation. After the spike, the P/BV normalized somewhat to 16.29 by 2025. The volatility in P/BV indicates fluctuating market sentiment and valuation multiples throughout the years.
- Overall Insights
- The data suggests a company experiencing significant share price appreciation, particularly after 2020, alongside a recovery and substantial growth in BVPS in recent years. The extreme volatility in the P/BV ratio, especially the very high ratio in 2022, may reflect periods of market exuberance or changing investor perceptions regarding the company’s value relative to its book assets. The recent reduction of the P/BV ratio from extreme highs indicates some market revaluation or normalization after a period of sharp price increases relative to book value. This dynamic reflects a company potentially transitioning through phases of rapid growth, investor speculation, and subsequent valuation adjustments.
Comparison to Competitors
Palo Alto Networks Inc., P/BV, long-term trends, comparison to competitors
| Palo Alto Networks Inc. | Accenture PLC | Adobe Inc. | Cadence Design Systems Inc. | CrowdStrike Holdings Inc. | Datadog 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. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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: 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 | |
|---|---|---|
| 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: 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 | |
|---|---|---|
| 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: 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).