For the quarter ending 2026-01-31, PANW had $1,091M increase in cash & cash equivalents over the period. $384M in free cash flow.
| Cash Flow | 2026-01-31 | 2025-10-31 | 2025-07-31 | 2025-04-30 |
|---|---|---|---|---|
| Net income | 432 | 334 | 253.8 | 262.1 |
| Share-based compensation for equity-based awards | 301 | 370 | 354.4 | 325.9 |
| Deferred income taxes | 5 | 9 | 91.6 | -124.7 |
| Depreciation and amortization | 91 | 89 | 83.8 | 88.1 |
| Amortization of deferred contract costs | 135 | 126 | 136.5 | 119.1 |
| Amortization of debt issuance costs | 0 | - | 0.1 | 0.2 |
| Change in fair value of contingent consideration liability | 3 | -13 | -155.6 | 4.3 |
| Reduction of operating lease right-of-use assets | 17 | 18 | 17.3 | 16.1 |
| Amortization of investment premiums, net of accretion of purchase discounts | 45 | 7 | 5.9 | 9.4 |
| Accounts receivable, net | 758 | -1,622 | 1,013.9 | 454.5 |
| Financing receivables, net | -50 | -125 | -89.3 | -112.5 |
| Deferred contract costs | 124 | 82 | 226.6 | 134.9 |
| Prepaid expenses and other assets | 12 | 33 | -20.5 | 21.1 |
| Accounts payable | 42 | -2 | -11.9 | 85.3 |
| Accrued compensation | 163 | -210 | 99.8 | 14.6 |
| Accrued and other liabilities | 76 | -53 | 112.9 | 33.9 |
| Deferred revenue | 178 | -522 | 1,174.7 | 311.2 |
| Net cash provided by operating activities | 554 | 1,771 | 1,020.8 | 628.7 |
| Purchases of investments | 524 | 1,401 | 874.7 | 1,089.1 |
| Proceeds from sales of investments | 2,786 | 30 | 367 | 185 |
| Proceeds from maturities of investments | 1,135 | 474 | 386.4 | 454.8 |
| Business acquisitions, net of cash and restricted cash acquired | 2,576 | 2 | 554.9 | 0 |
| Purchases of property, equipment, and other assets | 170 | 84 | 86.3 | 68.3 |
| Net cash used in investing activities | 651 | -983 | -762.5 | -517.6 |
| Repayments of convertible senior notes | 0 | 0 | 383.3 | 150.9 |
| Repurchases of common stock | - | - | 0 | 0 |
| Proceeds from sales of shares through employee equity incentive plans | 8 | 130 | 9.9 | 203.3 |
| Payments for taxes related to net share settlement of equity awards | 108 | 1 | 0.7 | 5.3 |
| Payments of contingent consideration liability | 14 | 121 | - | - |
| Net cash used in financing activities | -114 | 8 | -374.1 | 47.1 |
| Net increase in cash, cash equivalents, and restricted cash | 1,091 | 796 | -115.8 | 158.2 |
| Cash and cash equivalents at beginning of period | 3,075 | 2,279 | 2,395 | 2,236.8 |
| Cash and cash equivalents at end of period | 4,166 | 3,075 | 2,279.2 | 2,395 |
Palo Alto Networks Inc (PANW)
Palo Alto Networks Inc (PANW)