PALO ALTO NETWORKS Reports 20.1% Increase in Revenue and 860.0% Increase in Net Income for FY2024 Q1

☀️Earnings Overview

For their fiscal year 2024 Q1 ending October 31, 2023, PALO ALTO NETWORKS ($NASDAQ:PANW) reported a total revenue of USD 1878.1 million, up 20.1% compared to the same period one year prior, and a net income of USD 194.2 million, a staggering 860.0% increase compared to the same period last year.

Analysis

According to Star Chart, PALO ALTO NETWORKS has a high health score of 8/10, meaning its cashflows and debt are strong and it is capable to safely ride out any crisis without the risk of bankruptcy. Furthermore, the company is strong in growth and profitability, but weak in asset and dividend. Additionally, the company is classified as a ‘gorilla’, a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Investors that may be interested in such company are those looking for stability and long-term growth. As the company has a high health score and has achieved stable and high revenue or earning growth due to its strong competitive advantage, it is an attractive option for investors that are looking for long-term value and stability in their investments. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for PANW. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for PANW. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for PANW. More…

Key Ratios Snapshot

Some of the financial key ratios for PANW are shown below. More…

Peers

Palo Alto Networks Inc is an American multinational cybersecurity company with headquarters in Santa Clara, California. The company specializes in developing and selling firewall appliances and software. Some of Palo Alto Networks’ main competitors are KnowBe4 Inc, Venustech Group Inc, Fortinet Inc.

– KnowBe4 Inc ($NASDAQ:KNBE)

KnowBe4 is a security awareness training company that helps organizations train their employees to be aware of phishing and other types of cyberattacks. The company has a market cap of 4.35B as of 2022 and a Return on Equity of 4.87%.

– Venustech Group Inc ($SZSE:002439)

As of 2022, Venustech Group Inc has a market cap of 25.3B and a Return on Equity of 6.42%. The company provides IT security products and services, including firewall, anti-virus, and intrusion detection and prevention systems. It also offers web security, email security, and data security solutions.

– Fortinet Inc ($NASDAQ:FTNT)

With a market cap of $40.74B as of 2022, Fortinet Inc is a large company with a wide variety of products and services. Its ROE of -98.85% indicates that it is not a very profitable company, but it has a strong market presence. Fortinet Inc provides cybersecurity solutions for businesses of all sizes. Its products and services include firewall, anti-virus, and intrusion prevention systems.

Summary

Palo Alto Networks (PAN) reported strong financial performance in their Fiscal Year 2024 Q1 results, with total revenue increasing by 20.1% year-over-year to USD 1878.1 million and net income surging 860.0% to USD 194.2 million. This impressive result is a positive sign for investors, indicating that PAN’s strategies and products are resonating with customers as the business continues to grow and expand. Going forward, investors should continue to monitor PAN’s financial performance and track developments across its product portfolio in order to assess the strength of the company’s overall outlook.