Common-Size Balance Sheet: Assets
Quarterly Data
Palo Alto Networks Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 10-K (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents as a percentage of total assets demonstrated a generally declining trend from 30.76% in October 2018 to a low of approximately 7.66%-7.68% in mid-2024, with some fluctuations in between. A notable drop occurred after January 2022, reaching the lowest levels toward late 2023 and early 2024, followed by a minor recovery in the latest periods.
- Short-term Investments
- Short-term investments as a percentage of total assets fluctuated over time, starting at 24.47% in October 2018, peaking near 29.82% in early 2019, and then generally decreasing to below 5% by the first quarter of 2025. The data indicates a significant decline after early 2020, with persistent lower levels through subsequent periods.
- Accounts Receivable, Net
- The accounts receivable metric showed variability without a clear, consistent trend. Initially around 6.59%-7.31% in 2018 and early 2019, it increased notably in late 2021 and into 2022, reaching peaks above 17%, before experiencing fluctuations around 9% to 13% in subsequent quarters. This suggests fluctuations in receivables possibly associated with business cycles or sales activities.
- Short-term Financing Receivables
- This category appears only in later periods, beginning near 2.68% in late 2022 and fluctuating modestly between approximately 2.44% and 3.95% through 2024. Its emergence indicates an increasing use of short-term financing assets in recent years.
- Short-term Deferred Contract Costs
- From available data starting in 2020, these costs remained relatively stable, showing a slow decline from about 2.7% to approximately 1.76% of total assets by early 2025, indicating conservative or stable contract-related deferred expenses.
- Prepaid Expenses and Other Current Assets
- This category was around 3.95%-4.24% initially, with some variability, dropping notably in mid to late 2021 to as low as 2.24%, but then oscillating slightly between 2.22% and 4.9%. The data indicates moderate fluctuation with no strong upward or downward trend overall.
- Current Assets
- Current assets as a percentage of total assets showed a decreasing trend over the analyzed period, starting at 65.76% in late 2018 and declining to the 30%-35% range by early 2025. This reflects a considerable shift away from current assets towards long-term asset composition over time.
- Property and Equipment, Net
- Property and equipment as a percentage of total assets declined steadily, from close to 4.77% in 2018 to about 1.67% in 2025. This downward trend may reflect asset disposals, reduced capital expenditures, or reclassification influences.
- Operating Lease Right-of-use Assets
- These assets appeared starting in 2019 at around 4.14% and declined steadily to approximately 1.62% by 2025, indicating decreasing reliance or recognition of lease-related right-of-use assets over the period.
- Long-term Investments
- Long-term investments displayed a fluctuating pattern with an initial rise from about 9.75% in 2018 to peaks above 21% in 2023-2024, followed by a slight increase toward 23.42% in 2025. This suggests an increased emphasis on long-term investment holdings in more recent years.
- Long-term Financing Receivables, Net
- Appearing in the data only after 2022, long-term financing receivables varied between roughly 3.5% and 5.91%, indicating growing but variable participation in long-term financing activities during this timeframe.
- Long-term Deferred Contract Costs
- Available from 2020 onwards, these costs decreased gradually from around 4.83% to roughly 2.4% by early 2025, suggesting diminishing deferred costs associated with long-term contracts.
- Goodwill
- Goodwill accounted for a significant portion of total assets. It increased substantially from 10.97% in late 2018 to a peak above 28% around early 2021, then declined moderately and stabilized around 18%-20% through early 2025. This pattern might reflect acquisitions followed by impairment or amortization adjustments.
- Intangible Assets, Net
- These assets rose from 3.21% in 2018 to about 5.7% in early 2021 but subsequently declined steadily to below 3.5% by 2025, possibly reflecting amortization or reduced capitalized intangible asset additions.
- Deferred Tax Assets
- Data available starting in early 2023 shows deferred tax assets consistently representing about 11%-12.8% of total assets, indicating a stable level of deferred tax asset recognition in recent periods.
- Other Assets
- Other assets were relatively stable in the range of about 5.55% to 8.03% up to 2020, then declined steadily to around 1.74%-1.8% by 2025, indicative of asset reclassification or disposal.
- Long-term Assets
- Long-term assets as a percentage of total assets increased considerably from 34.24% in late 2018 to a peak near 69% in 2024-2025, reflecting a strategic shift toward greater asset longevity and potential capital investment or acquisition activity.