Palo Alto Networks Inc. (NASDAQ:PANW)

The financial data reveals several important trends over the period analyzed. Net income exhibits significant volatility, with initial losses deepening substantially from 2013 through 2021, reaching a peak negative value of -498,900 thousand US dollars in 2021. Notably, there is a marked improvement beginning in 2022, transitioning to positive net income of 439,700 thousand US dollars, followed by a considerable rise to 2,577,600 thousand US dollars in 2024, before moderating to 1,133,900 thousand US dollars in 2025.

Total assets demonstrate a consistent upward trajectory throughout the years, growing from 407,804 thousand US dollars in 2012 to 23,576,200 thousand US dollars by 2025. This substantial increase reflects an aggressive asset accumulation strategy or expansion in operations. The growth is generally steady, with notable acceleration from 2017 onwards.

Return on Assets (ROA) percentages mirror the net income trends, showing negative returns for much of the earlier periods, with the lowest point at -15.32% in 2014. From 2012 through 2021, ROA remains negative or marginally below zero, indicating inefficient use of assets or continuing losses. Starting in 2022, ROA turns positive at 3.03%, surging to 12.89% in 2024 before declining somewhat to 4.81% in 2025. This shift reflects improved profitability and asset utilization efficiency in recent years.

Net Income (Loss)

Initial large losses from 2013 to 2021; sharp turnaround to positive income after 2021, peaking in 2024.

Total Assets

Consistent and strong growth throughout the period, with substantial asset base expansion particularly after 2017.

Return on Assets (ROA)

Predominantly negative returns in early years with a pronounced trough in 2014; turning positive beginning in 2022 with peak performance in 2024, indicating improving operational efficiency and profitability.

Overall, the company experienced a challenging period characterized by losses and negative returns on assets, accompanied by continual asset growth. The recent years show a clear recovery and enhanced profitability metrics, suggesting effective strategic or operational changes impacting financial performance positively.