Stock Analysis on Net

Palo Alto Networks Inc. (NASDAQ:PANW)

$24.99

Common-Size Balance Sheet: Assets
Quarterly Data

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Palo Alto Networks Inc., common-size consolidated balance sheet: assets (quarterly data)

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Jan 31, 2026 Oct 31, 2025 Jul 31, 2025 Apr 30, 2025 Jan 31, 2025 Oct 31, 2024 Jul 31, 2024 Apr 30, 2024 Jan 31, 2024 Oct 31, 2023 Jul 31, 2023 Apr 30, 2023 Jan 31, 2023 Oct 31, 2022 Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019
Cash and cash equivalents
Short-term investments
Accounts receivable, net of allowance for credit losses
Short-term financing receivables, net
Short-term deferred contract costs
Prepaid expenses and other current assets
Current assets
Property and equipment, net
Operating lease right-of-use assets
Long-term investments
Long-term financing receivables, net
Long-term deferred contract costs
Goodwill
Intangible assets, net
Deferred tax assets
Other assets
Long-term assets
Total assets

Based on: 10-Q (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 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).


The composition of assets at the company has undergone notable shifts over the observed period, spanning from October 2019 to July 2025. Current assets initially represented a substantial portion of the total, fluctuating between approximately 45% and 56% before declining to a range of 30% to 34% in the later periods. Conversely, long-term assets have increased in relative importance, rising from around 44% to 47% in the earlier years to consistently exceed 65% towards the end of the observation window.

Within current assets, cash and cash equivalents demonstrated significant volatility. It began at 18.52% in October 2019, peaked at 32.63% in July 2020, and then generally trended downwards, reaching a low of 7.66% in April 2024 before a slight recovery. Short-term investments exhibited an inverse relationship, decreasing from 23.41% to a low of 5.22% before a minor increase. Accounts receivable also showed variability, with a notable increase to 17.48% in July 2022, followed by a decline to 5.56% in October 2024.

Long-Term Asset Composition
Goodwill constituted a significant and initially stable portion of long-term assets, hovering around 20-27% for much of the period. However, it experienced a substantial increase towards the end, reaching 27.75% in October 2025. Long-term investments also showed a marked increase, rising from approximately 6-10% to over 20% in several periods, peaking at 25.42% in July 2025. Intangible assets remained relatively stable, fluctuating between 2% and 6% of total assets. Deferred tax assets increased significantly towards the end of the period, reaching over 12% in January 2025.

Several line items appeared only after April 2021. Short-term financing receivables, net, remained relatively small, peaking at 5.91% in July 2022. Short-term deferred contract costs remained consistently around 2-3% of total assets. Long-term financing receivables, net, and long-term deferred contract costs followed similar patterns, increasing from negligible amounts to around 3-6% of total assets. These suggest a shift in the company’s financing and contract management strategies.

The proportion of property and equipment, net, and operating lease right-of-use assets remained relatively stable throughout the period, generally contributing between 2-5% each to the total asset base. Other assets showed a slight decreasing trend, falling from over 6% to around 1-2% of total assets.

Overall, the asset structure demonstrates a strategic shift from liquid, short-term assets towards longer-term investments and intangible assets, particularly goodwill. This suggests a potential focus on long-term growth and acquisitions, alongside a changing approach to financing and contract management.