Palo Alto Networks, Inc (PANW) Spending and interest coverage
- R&D / revenue · 12 months: Value 22.23%; Formula and calculation Research and development expense / revenue. Period ending 2026-07-31..
- Stock-based compensation / revenue · 12 months: Value 15.45%; Formula and calculation Share-based compensation / revenue. Period ending 2026-07-31..
- Interest coverage · 12 months: Value (m); Formula and calculation Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified..
Spending and interest coverage
Overview →Financial period ending 2026-07-31; current quote (m). Amounts retain their stated periods and units.
| Metric | Value | Formula and calculation |
|---|---|---|
| R&D / revenue · 12 months | 22.23% | Research and development expense / revenue. Period ending 2026-07-31. $2.55B ÷ $11.48B × 100 ≈ 22.23% |
| Stock-based compensation / revenue · 12 months | 15.45% | Share-based compensation / revenue. Period ending 2026-07-31. $1.77B ÷ $11.48B × 100 ≈ 15.45% |
| Interest coverage · 12 months | (m) | Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified. Calculation unavailable: missing inputs remain (m). |
Calculation inputs
| Input | Amount with unit | Raw financial data |
|---|---|---|
| Research and development spending | 2.55B USD | Research and Development Expense |
| Revenue | 11.48B USD | Revenue from Contract with Customer, Excluding Assessed Tax |
| Stock-based compensation | 1.77B USD | Share-based Payment Arrangement, Noncash Expense |
| Operating income | 695.00M USD | Operating Income (Loss) |
| Interest expense · reported / estimated | (m) | Interest Expense · Estimated expense assumptions |
Latest interest expense basis: (m). Estimated values carry *; expand each history row’s basis for its dated balances and rate assumptions.
Calculated history
Changes compare with the next older row (previous quarter), unless explicitly labeled otherwise. Rolling 12-month growth compares two successive quarter-end rolling totals; it is not year-over-year growth.
| Period ending | Research and development spending (USD) | Revenue (USD) | Stock-based compensation (USD) | Operating income (USD) | Interest expense · reported / estimated (USD) | R&D / revenue | SBC / revenue | Interest coverage | Interest expense basis |
|---|---|---|---|---|---|---|---|---|---|
| 2026-07-31 | $2.55B | $11.48B | $1.77B | $695.00M | (m) | 22.23% | 15.45% | (m) | (m) |
| 2026-04-30 | $2.28B | $10.61B | $1.67B | $1.02B | (m) | 21.47% | 15.73% | (m) | (m) |
| 2026-01-31 | $2.04B | $9.89B | $1.35B | $1.42B | (m) | 20.59% | 13.66% | (m) | (m) |
| 2025-10-31 | $2.03B | $9.56B | $1.37B | $1.27B | (m) | 21.25% | 14.34% | (m) | (m) |
| 2025-07-31 | $1.98B | $9.22B | $1.30B | $1.24B | (m) | 21.52% | 14.04% | (m) | (m) |
| 2025-04-30 | $1.98B | $8.87B | $1.21B | $984.10M | (m) | 22.26% | 13.63% | (m) | (m) |
| 2025-01-31 | $1.94B | $8.57B | $1.15B | $942.00M | (m) | 22.61% | 13.39% | (m) | (m) |
| 2024-10-31 | $1.88B | $8.29B | $1.10B | $755.20M | (m) | 22.69% | 13.26% | (m) | (m) |
| 2024-07-31 | $1.81B | $8.03B | $1.08B | $683.90M | $8.30M | 22.54% | 13.40% | 82.40× | Reported |
| 2024-04-30 | $1.73B | $7.79B | $1.06B | $699.00M | $13.70M | 22.19% | 13.61% | 51.02× | Reported |
| 2024-01-31 | $1.69B | $7.53B | $1.07B | $601.00M | $19.20M | 22.39% | 14.19% | 31.30× | Reported |
| 2023-10-31 | $1.64B | $7.21B | $1.08B | $587.30M | $23.30M | 22.78% | 14.98% | 25.21× | Reported |
| 2023-07-31 | $1.60B | $6.89B | $1.07B | $387.30M | $27.20M | 23.27% | 15.59% | 14.24× | Reported |
| 2023-04-30 | $1.55B | $6.49B | $1.06B | $149.20M | $28.40M | 23.94% | 16.33% | 5.25× | Reported |
| 2023-01-31 | $1.50B | $6.16B | $1.04B | $22.90M | $27.40M | 24.29% | 16.83% | 0.84× | Reported |
| 2022-10-31 | $1.45B | $5.82B | $1.02B | $-90.90M | $27.30M | 24.92% | 17.50% | -3.33× | Reported |
| 2022-07-31 | $1.42B | $5.50B | $1.01B | $-188.80M | $27.40M | 25.77% | 18.38% | -6.89× | Reported |
| 2022-04-30 | $1.38B | $5.17B | $1.00B | $-264.60M | $61.90M | 26.68% | 19.37% | -4.27× | Reported |
| 2022-01-31 | $1.33B | $4.86B | $987.30M | $-327.40M | $96.10M | 27.48% | 20.33% | -3.41× | Reported |
| 2021-10-31 | $1.24B | $4.56B | $947.80M | $-342.30M | $130.00M | 27.26% | 20.80% | -2.63× | Reported |
| 2021-07-31 | $1.14B | $4.26B | $894.50M | $-304.10M | $163.30M | 26.79% | 21.02% | -1.86× | Reported |
| 2021-04-30 | $1.03B | $3.99B | $838.70M | $-261.50M | $153.30M | 25.86% | 21.03% | -1.71× | Reported |
| 2021-01-31 | $916.30M | $3.78B | $771.40M | $-207.60M | $131.70M | 24.22% | 20.39% | -1.58× | Reported |
| 2020-10-31 | $835.00M | $3.58B | $714.30M | $-171.70M | $110.00M | 23.31% | 19.94% | -1.56× | Reported |
| 2020-07-31 | $768.10M | $3.41B | $658.40M | $-179.00M | $88.70M | 22.54% | 19.32% | -2.02× | Reported |
| 2020-04-30 | $710.90M | $3.26B | $634.40M | $-171.10M | $77.30M | 21.78% | 19.44% | -2.21× | Reported |
| 2020-01-31 | $653.70M | $3.12B | $606.80M | $-133.30M | $78.50M | 20.95% | 19.44% | -1.70× | Reported |
| 2019-10-31 | $596.60M | $3.02B | $580.70M | $-73.80M | $80.10M | 19.78% | 19.26% | -0.92× | Reported |
| 2019-07-31 | $539.50M | $2.90B | $567.70M | $-54.10M | $83.90M | 18.61% | 19.58% | -0.64× | Reported |
| 2019-04-30 | $491.10M | $2.75B | $541.10M | $-52.00M | $74.30M | 17.85% | 19.66% | -0.70× | Reported |
| 2019-01-31 | $451.60M | $2.59B | $519.50M | $-78.60M | $60.20M | 17.42% | 20.04% | -1.31× | Reported |
| 2018-10-31 | $419.90M | $2.43B | $507.90M | $-107.70M | $46.00M | 17.30% | 20.92% | -2.34× | Reported |
| 2018-07-31 | $400.70M | $2.27B | $496.70M | $-129.10M | $29.60M | 17.63% | 21.85% | -4.36× | Reported |
| 2018-04-30 | $377.70M | $2.12B | $490.80M | $-165.00M | $25.40M | 17.78% | 23.11% | -6.50× | Reported |
| 2018-01-31 | $364.10M | $1.99B | $490.40M | $-162.50M | $25.10M | 18.31% | 24.66% | -6.47× | Reported |
| 2017-10-31 | $357.40M | $1.87B | $486.90M | $-185.10M | $24.80M | 19.12% | 26.05% | -7.46× | Reported |
| 2017-07-31 | $347.40M | $1.76B | $474.50M | $-179.80M | $24.50M | 19.72% | 26.94% | -7.34× | Reported |
| 2017-04-30 | $336.60M | $1.65B | $466.40M | $-208.00M | $24.30M | 20.36% | 28.21% | -8.56× | Reported |
| 2017-01-31 | $324.60M | $1.57B | $458.60M | $-211.40M | $23.90M | 20.71% | 29.26% | -8.85× | Reported |
| 2016-10-31 | $309.10M | $1.48B | $434.10M | $-208.00M | $23.60M | 20.89% | 29.34% | -8.81× | Reported |
| 2016-07-31 | $284.20M | $1.38B | $392.80M | $-190.10M | $23.40M | 20.62% | 28.49% | -8.12× | Reported |
| 2016-04-30 | $260.83M | $1.26B | $349.01M | $-179.24M | $23.02M | 20.68% | 27.67% | -7.78× | Reported |
| 2016-01-31 | $235.23M | $1.15B | $300.81M | $-157.34M | $22.93M | 20.46% | 26.16% | -6.86× | Reported |
| 2015-10-31 | $208.23M | $1.03B | $255.81M | $-140.54M | $22.63M | 20.16% | 24.77% | -6.21× | Reported |
| 2015-07-31 | $185.83M | $928.05M | $221.31M | $-133.54M | $22.32M | 20.02% | 23.85% | -5.98× | Reported |
| 2015-04-30 | $165.57M | $822.40M | $188.59M | $-124.45M | $18.51M | 20.13% | 22.93% | -6.72× | Reported |
| 2015-01-31 | $144.92M | $738.93M | $156.34M | $-233.46M | $12.89M | 19.61% | 21.16% | -18.11× | Reported |
| 2014-10-31 | $122.22M | $662.35M | $123.83M | $-232.10M | $7.36M | 18.45% | 18.70% | -31.52× | Reported |
| 2014-07-31 | $104.81M | $598.18M | $99.77M | $-215.35M | $1.88M | 17.52% | 16.68% | -114.36× | Reported |
| 2014-04-30 | $89.61M | $532.33M | $80.78M | $-196.78M | (m) | 16.83% | 15.17% | (m) | (m) |
| 2014-01-31 | $77.82M | $482.92M | $65.40M | $-57.50M | (m) | 16.11% | 13.54% | (m) | (m) |
| 2013-10-31 | $69.06M | $438.35M | $49.80M | $-22.50M | (m) | 15.76% | 11.36% | (m) | (m) |
| 2013-07-31 | $62.48M | $396.11M | $43.70M | $-18.62M | (m) | 15.77% | 11.03% | (m) | (m) |
| 2013-04-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2013-01-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2012-10-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2012-07-31 | $38.57M | $255.14M | $13.84M | $3.89M | (m) | 15.12% | 5.42% | (m) | (m) |
| 2012-04-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2012-01-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2011-10-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2011-07-31 | $21.37M | $118.60M | $4.73M | $-10.40M | (m) | 18.02% | 3.99% | (m) | (m) |
(m) means missing inputs. Historical market-based ratios use the saved close on or immediately before period ending and that period’s reported shares; current quotes are not substituted. Five-year projections repeat historical CAGR, not analyst forecasts.
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