Palo Alto Networks Inc., current enterprise value calculation

Current share price (P)	$388.06
No. shares of common stock outstanding	325,600,000
US$ in thousands
Common equity (market value)¹	126,352,336)
Add: Preferred stock; $0.0001 par value; none issued and outstanding (per books)	—)
Total equity	126,352,336)
Add: Current portion of convertible senior notes, net (per books)	963,900)
Add: Convertible senior notes, net, excluding current portion (per books)	—)
Total equity and debt	127,316,236)
Less: Cash and cash equivalents	1,535,200)
Less: Short-term investments	1,043,600)
Enterprise value (EV)	124,737,436)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 388.06 × 325,600,000

Palo Alto Networks Inc., EV calculation

	Jul 31, 2024	Jul 31, 2023	Jul 31, 2022	Jul 31, 2021	Jul 31, 2020	Jul 31, 2019
Share price^1, 2	$335.82	$242.72	$176.85	$156.07	$78.55	$70.39
No. shares of common stock outstanding¹	325,600,000	308,594,604	299,213,808	292,218,339	289,119,882	290,971,440
US$ in thousands
Common equity (market value)³	109,342,992)	74,902,082)	52,915,962)	45,606,516)	22,710,367)	20,481,480)
Add: Preferred stock; $0.0001 par value; none issued and outstanding (book value)	—)	—)	—)	—)	—)	—)
Total equity	109,342,992)	74,902,082)	52,915,962)	45,606,516)	22,710,367)	20,481,480)
Add: Current portion of convertible senior notes, net (book value)	963,900)	1,991,500)	3,676,800)	1,557,900)	—)	—)
Add: Convertible senior notes, net, excluding current portion (book value)	—)	—)	—)	1,668,100)	3,084,100)	1,430,000)
Total equity and debt	110,306,892)	76,893,582)	56,592,762)	48,832,516)	25,794,467)	21,911,480)
Less: Cash and cash equivalents	1,535,200)	1,135,300)	2,118,500)	1,874,200)	2,958,000)	961,400)
Less: Short-term investments	1,043,600)	1,254,700)	1,516,000)	1,026,900)	789,800)	1,841,700)
Enterprise value (EV)	107,728,092)	74,503,582)	52,958,262)	45,931,416)	22,046,667)	19,108,380)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Palo Alto Networks Inc. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 335.82 × 325,600,000

Download chart

Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Palo Alto Networks Inc. EV increased from 2022 to 2023 and from 2023 to 2024.

Palo Alto Networks Inc. (NASDAQ:PANW)

Enterprise Value (EV)