Palo Alto Networks (PANW) revenue breakdown

Technology · Software - Infrastructure · Market cap $358.0B

By product, Subscription and support is the largest at 80% of fiscal 2026 revenue, growing 20% a year over 2 years.

By region, United States is the largest at 62% of fiscal 2026 revenue; Europe, the Middle East, and Africa (“EMEA”) grew fastest, 25% a year over 9 years.

Revenue by product

Fiscal years, as Palo Alto Networks reports them in its 10-K filings; fiscal 2026 total $11.5B.

Products2017201820192020202120222023202420252026Share
Subscription and support———————$6.4B$7.4B$9.2B 80%
Product$708M$880M$1.1B$1.1B$1.1B$1.4B$1.6B$1.6B$1.8B$2.3B 20%
Subscription and support$1.0B$1.4B$1.8B$2.3B$3.1B$4.1B———— —
Subscription——————$3.3B——— —
Support——————$2.0B——— —

Revenue by region

Fiscal years, as Palo Alto Networks reports them in its 10-K filings; fiscal 2026 total $11.5B.

Regions2017201820192020202120222023202420252026Share
United States$1.1B$1.4B$1.8B$2.2B$2.7B$3.6B$4.4B$5.1B$5.8B$7.1B 62%
Europe, the Middle East, and Africa (“EMEA”)$320M$440M$569M$672M$817M$1.1B$1.4B$1.6B$1.9B$2.4B 21%
Asia Pacific and Japan (“APAC”)$204M$275M$354M$418M$501M$643M$813M$942M$1.1B$1.4B 12%
Other Americas$81M$112M$153M$160M$190M$242M$296M$349M$419M$571M 5%
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Questions

Where does Palo Alto Networks make its money?

In fiscal 2026, by product: Subscription and support $9.2B, Product $2.3B.

From Palo Alto Networks's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.