Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
Paying user area
Try for free
Palo Alto Networks Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Geographic Areas
- Dividend Discount Model (DDM)
- Current Ratio since 2012
- Price to Operating Profit (P/OP) since 2012
- Analysis of Revenues
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Palo Alto Networks Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Palo Alto Networks Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2026-07-31), 10-Q (reporting date: 2026-04-30), 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).
A transition from consistent quarterly net losses to sustained profitability is observed starting in mid-2022. While net income exhibits significant volatility, including a substantial spike in January 2024 and a return to losses in early 2026, the net cash provided by operating activities remains resiliently positive. This divergence suggests that non-cash adjustments, particularly share-based compensation and deferred revenue, play a critical role in sustaining liquidity despite fluctuations in reported earnings.
- Operating Cash Flow and Profitability
- Net cash provided by operating activities demonstrates a general upward trajectory, peaking at 1,771 million US dollars in October 2025. The reconciliation from net income to operating cash is heavily influenced by share-based compensation, which has consistently served as a significant non-cash add-back, increasing from approximately 200 million US dollars per quarter in 2020 to over 400 million US dollars in the most recent periods. The stability of operating cash flow relative to the volatility of net income indicates a strong underlying cash-generating capacity from core business operations.
- Working Capital Dynamics and Seasonality
- A distinct seasonal pattern is evident in deferred revenue, with substantial peaks occurring every July. These inflows, often exceeding 1 billion US dollars, suggest a concentration of upfront contract payments during the third quarter of the calendar year. This seasonality is partially offset by volatility in accounts receivable, which fluctuates between large cash outflows and inflows, reflecting the timing of collections and billing cycles. Additionally, deferred contract costs represent a consistent cash outflow, scaling upward as the company invests more in customer acquisition.
- Investment and Acquisition Strategy
- Investing activities are characterized by continuous purchases of investments and a strategic shift toward aggressive business acquisitions. While initial acquisitions were modest, there is a marked acceleration in M&A spending starting in 2024, culminating in massive outflows of 2,576 million US dollars in January 2026 and 1,985 million US dollars in April 2026. These capital deployments are partially funded by the sale and maturity of previous investments, indicating a rotation of assets from liquid securities into strategic business growth.
- Financing and Capital Allocation
- Financing activities are primarily driven by the repayment of convertible senior notes and periodic repurchases of common stock. Debt repayment became more frequent and larger in volume starting in 2023, reflecting a systematic reduction of leverage. Share buybacks have been executed sporadically, with a notable increase to 1,000 million US dollars in January 2026. The net cash used in financing activities varies significantly, often fluctuating based on the timing of debt maturities and equity settlement obligations.
Overall, the financial profile reveals a company that has successfully transitioned to operational profitability and generates robust cash flow from operations. This liquidity is being aggressively redeployed into large-scale strategic acquisitions and the retirement of debt, while managing a highly seasonal revenue recognition model.