Price to Operating Profit (P/OP)
since 2012
Calculation
Palo Alto Networks Inc., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Operating income (loss)1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep 10, 2026 | 398.40 | = | 338.49 | ÷ | 0.85 | 0.85 | = | 695 | ÷ | 818,000,000 | |
| Aug 29, 2025 | 102.53 | = | 190.52 | ÷ | 1.86 | 1.86 | = | 1,243 | ÷ | 668,900,000 | |
| Sep 6, 2024 | 159.88 | = | 167.91 | ÷ | 1.05 | 1.05 | = | 684 | ÷ | 651,200,000 | |
| Sep 1, 2023 | 193.40 | = | 121.36 | ÷ | 0.63 | 0.63 | = | 387 | ÷ | 617,189,208 | |
| Sep 6, 2022 | — | = | 88.43 | ÷ | -0.32 | -0.32 | = | -189 | ÷ | 598,427,616 | |
| Sep 3, 2021 | — | = | 78.04 | ÷ | -0.52 | -0.52 | = | -304 | ÷ | 584,436,678 | |
| Sep 4, 2020 | — | = | 39.28 | ÷ | -0.31 | -0.31 | = | -179 | ÷ | 578,239,764 | |
| Sep 9, 2019 | — | = | 35.20 | ÷ | -0.09 | -0.09 | = | -54 | ÷ | 581,942,880 | |
| Sep 13, 2018 | — | = | 39.35 | ÷ | -0.23 | -0.23 | = | -129 | ÷ | 562,937,910 | |
| Sep 7, 2017 | — | = | 23.95 | ÷ | -0.33 | -0.33 | = | -180 | ÷ | 551,054,184 | |
| Sep 8, 2016 | — | = | 24.50 | ÷ | -0.35 | -0.35 | = | -190 | ÷ | 545,102,742 | |
| Sep 17, 2015 | — | = | 30.72 | ÷ | -0.26 | -0.26 | = | -134 | ÷ | 510,053,352 | |
| Sep 18, 2014 | — | = | 16.49 | ÷ | -0.45 | -0.45 | = | -215 | ÷ | 477,770,826 | |
| Sep 25, 2013 | — | = | 7.72 | ÷ | -0.04 | -0.04 | = | -19 | ÷ | 430,002,978 | |
| Oct 4, 2012 | 1,147.44 | = | 10.96 | ÷ | 0.01 | 0.01 | = | 4 | ÷ | 407,363,634 |
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 financial trajectory from 2012 to 2026 is characterized by a prolonged period of operating losses followed by a transition to profitability and a significant appreciation in share price.
- Share Price Evolution
- A consistent long-term upward trend is observed in the share price, rising from 10.96 US$ in 2012 to 338.49 US$ by 2026. The most aggressive growth occurred between 2021 and 2026, with the price increasing from 78.04 US$ to 338.49 US$ during this five-year interval.
- Operating Profitability Trends
- Operating profit per share remained predominantly negative for a decade, spanning from 2013 to 2022. During this phase, losses peaked in 2014 at -0.45 US$ and again in 2021 at -0.52 US$. A fundamental shift occurred in 2023, when operating profit per share turned positive at 0.63 US$, subsequently peaking at 1.86 US$ in 2025 before receding to 0.85 US$ in 2026.
- Price to Operating Profit (P/OP) Analysis
- The P/OP ratio was unavailable for the majority of the analyzed period due to negative operating profits. In 2012, the ratio stood at an extreme 1,147.44. Upon the return to profitability in 2023, the ratio began at 193.40 and experienced a downward trend through 2025, reaching a low of 102.53. This compression suggests that operating profit grew at a faster rate than the share price during that window. However, a sharp reversal occurred in 2026, with the ratio spiking to 398.40, driven by a simultaneous increase in share price and a contraction in operating profit per share.
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Comparison to Competitors
Palo Alto Networks Inc., P/OP, long-term trends, comparison to competitors
| Palo Alto Networks Inc. | Accenture PLC | Adobe Inc. | AppLovin Corp. | Cadence Design Systems Inc. | Datadog Inc. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep 10, 2026 | 398.40 | — | — | — | — | — | 14.26 | 18.68 | 24.47 | — | 21.38 | — | — | 53.84 |
| Aug 29, 2025 | 102.53 | 14.62 | 14.34 | 33.47 | 54.20 | — | 37.87 | 29.68 | 33.50 | 224.99 | 38.94 | 66.94 | 100.63 | 155.71 |
| Sep 6, 2024 | 159.88 | 23.52 | 26.38 | 58.16 | 52.42 | 797.11 | 48.11 | 28.73 | 25.65 | 941.61 | 58.80 | 152.95 | 56.25 | 381.31 |
| Sep 1, 2023 | 193.40 | 21.69 | 40.52 | 31.12 | 65.43 | — | 49.04 | 27.76 | 25.30 | 431.61 | 177.62 | 206.26 | 67.90 | — |
| Sep 6, 2022 | — | 16.83 | 25.85 | — | 47.21 | — | 46.05 | 24.72 | 16.51 | — | 357.52 | 260.27 | 43.85 | — |
| Sep 3, 2021 | — | 28.35 | 40.64 | 111.61 | 48.13 | — | 62.00 | 30.79 | 14.31 | — | 431.39 | 436.46 | 75.64 | — |
| Sep 4, 2020 | — | 22.21 | 51.75 | — | 57.54 | — | 41.56 | 29.30 | 12.17 | — | 511.08 | 583.08 | 59.90 | — |
| Sep 9, 2019 | — | 18.63 | 51.63 | — | 40.67 | — | 40.45 | 24.54 | 13.83 | — | 223.46 | 1,590.34 | 40.48 | — |
| Sep 13, 2018 | — | 16.75 | 42.06 | — | 40.66 | — | 37.92 | 23.63 | 12.83 | — | 395.31 | — | 35.54 | — |
| Sep 7, 2017 | — | 19.47 | 44.86 | — | 35.08 | — | 25.94 | 24.93 | 16.52 | — | 908.77 | — | 37.64 | — |
| Sep 8, 2016 | — | 15.44 | 36.62 | — | 33.61 | — | 23.33 | 21.70 | 13.09 | — | 411.51 | — | 28.34 | — |
| Sep 17, 2015 | — | 15.66 | 49.21 | — | 22.23 | — | 31.60 | 20.57 | 12.84 | — | — | — | 25.82 | — |
| Sep 18, 2014 | — | 11.94 | 86.32 | — | 26.17 | — | 18.25 | 12.81 | 12.12 | — | — | — | 26.04 | — |
| Sep 25, 2013 | — | 11.50 | 71.49 | — | 22.85 | — | 15.12 | 9.91 | 9.51 | — | — | — | 24.81 | — |
| Oct 4, 2012 | 1,147.44 | 11.84 | 16.04 | — | 18.94 | — | 15.05 | 11.23 | 9.91 | — | — | — | 25.46 | — |
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).