PANW vs SNPS: Palo Alto Networks and Synopsys compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Palo Alto Networks is the larger company, worth $358.0B, about 3.7 times Synopsys.
- Synopsys grew revenue faster over the last year (+42.4% vs +34.5%).
- Synopsys keeps more of each dollar of revenue as operating profit (8.5% vs 6.0%).
- On earnings, Synopsys is the cheaper stock (76.5x vs 243.9x).
- Palo Alto Networks's price assumes faster free cash flow growth: about 24% a year, against 22% for Synopsys (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | PANW | SNPS |
|---|---|---|
| Market cap | $358.0B | $96.7B |
| Share price | $418.78 | $509.99 |
| Revenue (last fiscal year) | $11.5B | $7.1B |
| Free cash flow (last fiscal year) | $4.1B | $1.3B |
| Revenue growth, last year | +34.5% | +42.4% |
| Revenue growth per year, last 5 fiscal years | +20.2% | +13.8% |
| Operating margin | 6.0% | 8.5% |
| Net margin | 2.7% | 11.4% |
| Return on equity | 1.1% | 3.5% |
| P/E (trailing) | 243.9x | 76.5x |
| Price / free cash flow | 103.2x | 71.7x |
| EV / EBITDA | 235.6x | 28.0x |
| FCF growth the price implies | 24.5% | 21.8% |
| Dividend yield | — | — |
| Debt / equity | 0.76x | 0.53x |
| Fundamental grade | D | C |
| Superinvestors holding it | 9 | 9 |
| Insider purchases, last 12 months | 10 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Palo Alto Networks
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $5.5B | $1.8B | -3.4% |
| 2023 | $6.9B | $2.6B | 5.6% |
| 2024 | $8.0B | $3.1B | 8.5% |
| 2025 | $9.2B | $3.5B | 13.5% |
| 2026 | $11.5B | $4.1B | 6.1% |
Synopsys
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $4.2B | $1.4B | 17.5% |
| 2022 | $4.6B | $1.6B | 24.9% |
| 2023 | $5.3B | $1.5B | 23.9% |
| 2024 | $6.1B | $1.3B | 22.1% |
| 2025 | $7.1B | $1.3B | 13.0% |
Where the revenue comes from
Palo Alto Networks · by products, 2026
Subscription and support$9.2B80%
Product$2.3B20%
Synopsys · by segments, 2025
Design Automation$5.3B75%
Design IP$1.8B25%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open PANW in InvestinglyQuestions
Which is bigger, Palo Alto Networks or Synopsys?
Palo Alto Networks (PANW), at $358.0B against $96.7B.
Is PANW or SNPS cheaper?
By trailing P/E, Synopsys (76.5x) is cheaper than Palo Alto Networks (243.9x). A lower multiple can also mean the market expects less growth.
Which grows faster, PANW or SNPS?
Synopsys: revenue grew +42.4% over the last year, against +34.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.