Common-Size Balance Sheet: Assets
Quarterly Data
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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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Palo Alto Networks Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-K (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-K (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-K (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-K (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-K (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-K (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31).
- Cash and cash equivalents
- Representing a significant portion of total assets initially, cash and cash equivalents exhibited notable fluctuations throughout the periods. Beginning at 18.52%, there was an increase peaking above 32% in mid-2020, followed by a gradual decline with intermittent rises, reaching values below 10% in early 2024. The declining trend after 2022 suggests a reduced emphasis on holding cash reserves relative to total assets.
- Short-term investments
- This category showed an initial downward trend from 23.41% to under 9% by mid-2020, then a moderate recovery to around 15% by early 2023 before tapering off steadily to below 3% by mid-2025. The consistent decrease post-2023 indicates reduced allocation to short-term investments as a percentage of total assets over the longer term.
- Accounts receivable, net of allowance for credit losses
- There was variability in accounts receivable proportion, with values oscillating mostly between 7% and 17%. A notable spike occurred in mid-2022 reaching 17.48%, followed by a decline and subsequent fluctuations around 10%. Late periods show a moderate increase again, ending at 12.58%. This pattern may reflect changes in sales cycle or credit terms over time.
- Short-term financing receivables, net
- Data for early periods is missing; however, from early 2023 onward, this asset class contributed moderately to total assets, ranging between 2.44% and 3.95%, indicating a new or growing component of the asset base in recent years.
- Short-term deferred contract costs
- Starting at around 2.7%, this item showed a slow downward trend, decreasing to approximately 1.76% by mid-2025. The gradual reduction reflects a diminishing proportion of deferred contract costs within current assets over time.
- Prepaid expenses and other current assets
- This category fluctuated without a clear upward or downward trend, mostly oscillating between roughly 2.2% and 4.9%. An isolated peak at 4.9% occurred in mid-2023, but overall it remained a relatively stable and smaller portion of total assets.
- Current assets
- Current assets as a whole demonstrated considerable volatility, with percentages ranging from a peak of about 56.58% in mid-2020 to a trough around 30% during 2024-2025. This suggests shifts in asset composition, with a greater concentration of assets shifting away from current classifications in the recent years.
- Property and equipment, net
- This asset category consistently represented a small, declining share of total assets, decreasing from about 4.64% to around 1.64% by mid-2025, indicating a possible reduction in capital expenditures or asset base related to physical property and equipment.
- Operating lease right-of-use assets
- These assets declined moderately over the periods, starting at 4.14% and gradually reducing to around 1.47%, aligning with trends in lease agreements or company strategy related to leased assets.
- Long-term investments
- Long-term investments showed an overall increasing trend especially from 2021 onward, rising from around 6.85% to above 23% by mid-2025, suggesting a greater strategic focus on longer-term financial assets.
- Long-term financing receivables, net
- Initiated in the data from 2023, these receivables contributed between 3.5% and 5.91%, reflecting an emerging or expanding role as part of long-term asset allocation.
- Long-term deferred contract costs
- This item experienced a slow but steady decrease, moving from approximately 4.83% to around 2.49%, indicating a reduced weighting of deferred contract costs in the long-term assets over time.
- Goodwill
- Goodwill as a percentage of total assets displayed fluctuations with an early peak near 28%, followed by a consistent decline since mid-2022, reaching around 19% by mid-2025. This decline may reflect impairment charges or asset reclassifications.
- Intangible assets, net
- Intangible assets gradually decreased in their share of total assets from around 5.85% to approximately 3.24%, indicating either amortization effects or lower acquisition of new intangible assets.
- Deferred tax assets
- Data available only from late 2023 shows a stable contribution of around 10–12% of total assets, representing a meaningful and consistent portion of the asset mix.
- Other assets
- This category decreased over time, from about 6.21% to roughly 1.79%, indicating a significant reduction relative to total assets, possibly reflecting asset disposals or reclassifications.
- Long-term assets
- Long-term assets as a whole varied between 43% and nearly 70%, with a general upward trend in recent years. This illustrates a shift toward a greater concentration of assets in long-term classifications, complementing the decline in current assets.
- Total assets
- Always at 100% as a reference point, reflecting the proportional nature of the preceding data.