Palo Alto Networks
Palo Alto Networks returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
Reported borrowing balances are unavailable in the extracted statements for this period.
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q4 | Jul 31, 2026 | — | 2.57% | — | 1.74% | 0.85% | — |
| FY 2026 Q3 | Apr 30, 2026 | — | 3.96% | — | 4.83% | 2.47% | — |
| FY 2026 Q2 | Jan 31, 2026 | — | 9.36% | — | 16.26% | 5.58% | — |
| FY 2026 Q1 | Oct 31, 2025 | — | 8.7% | — | 15.33% | 5.09% | — |
| FY 2025 Q4 | Jul 31, 2025 | — | 8.91% | — | 17.45% | 5.21% | — |
| FY 2025 Q3 | Apr 30, 2025 | — | 7.83% | — | 21.16% | 6.2% | — |
| FY 2025 Q2 | Jan 31, 2025 | — | 7.87% | — | 23.38% | 6.39% | — |
| FY 2025 Q1 | Oct 31, 2024 | — | 7.45% | — | 67.66% | 15.54% | — |
| FY 2024 Q4 | Jul 31, 2024 | — | 7.17% | — | 74.52% | 14.95% | — |
| FY 2024 Q3 | Apr 30, 2024 | — | 8.54% | — | 85.88% | 15.25% | — |
| FY 2024 Q2 | Jan 31, 2024 | — | 7.9% | — | 89.52% | 14.48% | — |
| FY 2024 Q1 | Oct 31, 2023 | — | 10.09% | — | 45.84% | 4.49% | — |
| FY 2023 Q4 | Jul 31, 2023 | 13.75% | 7.23% | — | 44.9% | 3.29% | 6.1 pp |
| FY 2023 Q3 | Apr 30, 2023 | 5.33% | 3.33% | — | 27.43% | 1.7% | -2.4 pp |
| FY 2023 Q2 | Jan 31, 2023 | 0.38% | 0.6% | — | 8.1% | 0.29% | -7.3 pp |
| FY 2023 Q1 | Oct 31, 2022 | — | -2.38% | — | -27.93% | -1.25% | — |
| FY 2022 Q4 | Jul 31, 2022 | — | -4.16% | — | -63.23% | -2.37% | — |
| FY 2022 Q3 | Apr 30, 2022 | — | -5.3% | — | -58.38% | -3.77% | — |
| FY 2022 Q2 | Jan 31, 2022 | — | -8.08% | — | -79.91% | -4.64% | — |
| FY 2022 Q1 | Oct 31, 2021 | — | -7.3% | — | -80.62% | -5.33% | — |
| FY 2021 Q4 | Jul 31, 2021 | — | -5.29% | — | -57.47% | -5.17% | — |
| FY 2021 Q3 | Apr 30, 2021 | — | -4.88% | — | -50.35% | -5.46% | — |
| FY 2021 Q2 | Jan 31, 2021 | — | -4.13% | — | -27.83% | -4.42% | — |
| FY 2021 Q1 | Oct 31, 2020 | — | -3.16% | — | -26.47% | -3.85% | — |
| FY 2020 Q4 | Jul 31, 2020 | — | -3.28% | — | -19.87% | -3.41% | — |
| FY 2020 Q3 | Apr 30, 2020 | — | -4.06% | — | -20.83% | -3.59% | — |
| FY 2020 Q2 | Jan 31, 2020 | — | -3.04% | — | -13.01% | -2.7% | — |
| FY 2020 Q1 | Oct 31, 2019 | — | -1.69% | — | -7.45% | -1.63% | — |
| FY 2019 Q4 | Jul 31, 2019 | — | -1.32% | — | -6.42% | -1.32% | — |
| FY 2019 Q3 | Apr 30, 2019 | — | -1.14% | — | -5.83% | -1.25% | — |
| FY 2019 Q2 | Jan 31, 2019 | — | -2.44% | — | -10.55% | -1.93% | — |
| FY 2019 Q1 | Oct 31, 2018 | — | -3.73% | — | -12.74% | -2.63% | — |
| FY 2018 Q4 | Jul 31, 2018 | — | -4.36% | — | -17.14% | -3.19% | — |
| FY 2018 Q3 | Apr 30, 2018 | — | -7.93% | — | -23.94% | -5.14% | — |
| FY 2018 Q2 | Jan 31, 2018 | — | -8.22% | — | -26.34% | -5.82% | — |
| FY 2018 Q1 | Oct 31, 2017 | — | -11.05% | — | -29.39% | -6.89% | — |
| FY 2017 Q4 | Jul 31, 2017 | — | -8.66% | — | -27.96% | -6.99% | — |
| FY 2017 Q3 | Apr 30, 2017 | — | -11.48% | — | -32.31% | -8.26% | — |
| FY 2017 Q2 | Jan 31, 2017 | — | -12.58% | — | -33.77% | -9% | — |
| FY 2017 Q1 | Oct 31, 2016 | — | -15.96% | — | -35.55% | -9.76% | — |
| FY 2016 Q4 | Jul 31, 2016 | — | -13.35% | — | -35.36% | -9.56% | — |
| FY 2016 Q3 | Apr 30, 2016 | — | -17% | — | -39.05% | -10.13% | — |
| FY 2016 Q2 | Jan 31, 2016 | — | -13.18% | — | -34.83% | -9.68% | — |
| FY 2016 Q1 | Oct 31, 2015 | — | -12.81% | — | -33.48% | -9.55% | — |
| FY 2015 Q4 | Jul 31, 2015 | — | -12.94% | — | -34.5% | -9.58% | — |
| FY 2015 Q3 | Apr 30, 2015 | — | -19.36% | — | -41.62% | -11.34% | — |
| FY 2015 Q2 | Jan 31, 2015 | — | -27.73% | — | -62.89% | -21.32% | — |
| FY 2015 Q1 | Oct 31, 2014 | — | -29.18% | — | -63.52% | -22.81% | — |
| FY 2014 Q4 | Jul 31, 2014 | — | -28.53% | — | -61.12% | -21.94% | — |
| FY 2014 Q3 | Apr 30, 2014 | — | -49.09% | — | -78.51% | -29.63% | — |
| FY 2014 Q2 | Jan 31, 2014 | — | -15.39% | — | -26.87% | -12.03% | — |
| FY 2014 Q1 | Oct 31, 2013 | — | -6.31% | — | -12.78% | -6.2% | — |
| FY 2013 Q4 | Jul 31, 2013 | — | — | — | — | — | — |
| FY 2013 Q3 | Apr 30, 2013 | — | — | — | — | — | — |
| FY 2013 Q2 | Jan 31, 2013 | — | — | — | — | — | — |
| FY 2013 Q1 | Oct 31, 2012 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · PANW, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.