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Held by 2,374 of 5,944 reporting institutions (100th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
How management deployed cash over 10 years — and what it earned on reinvestment.
A balanced mix of reinvestment and shareholder returns.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 14%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-08-05 · 15d old
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.22B 100.0% | $8.03B 100.0% | $6.89B 100.0% | $5.50B 100.0% | $4.26B 100.0% | $3.41B 100.0% | $2.90B 100.0% | $2.27B 100.0% | $1.76B 100.0% | $1.38B 100.0% |
| Cost of Revenue | $2.45B 26.6% | $2.06B 25.7% | $1.91B 27.7% | $1.72B 31.2% | $1.27B 30.0% | $999.5M 29.3% | $808.4M 27.9% | $645.1M 28.4% | $476.4M 27.0% | $370.0M 26.8% |
| Cost of Products | — | — | — | — | — | — | — | $272.4M 12.0% | $201.4M 11.4% | $175.4M 12.7% |
| Cost of Services | — | — | — | — | — | — | — | $372.9M 16.4% | $275.2M 15.6% | $194.6M 14.1% |
| Gross Profit | $6.77B 73.4% | $5.97B 74.3% | $4.98B 72.3% | $3.78B 68.8% | $2.98B 70.0% | $2.41B 70.7% | $2.09B 72.1% | $1.63B 71.6% | $1.28B 72.6% | $1.01B 73.2% |
| Research & Development | $1.98B 21.5% | $1.81B 22.5% | $1.60B 23.3% | $1.42B 25.8% | $1.14B 26.8% | $768.1M 22.5% | $539.5M 18.6% | $400.7M 17.6% | $347.4M 19.7% | $284.2M 20.6% |
| Selling, General & Admin | $442.7M 4.8% | $680.5M 8.5% | $447.7M 6.5% | $405.0M 7.4% | $391.1M 9.2% | $299.6M 8.8% | $261.8M 9.0% | $257.8M 11.3% | $198.3M 11.3% | $138.4M 10.0% |
| Total Operating Expenses | $5.53B 59.9% | $5.28B 65.8% | $4.60B 66.7% | $3.97B 72.2% | $3.29B 77.2% | $2.59B 75.9% | $2.15B 74.0% | $1.73B 76.2% | $1.44B 82.0% | $1.17B 84.6% |
| Operating Income | $1.24B 13.5% | $683.9M 8.5% | $387.3M 5.6% | -$188.8M -3.4% | -$304.1M -7.1% | -$179.0M -5.3% | -$54.1M -1.9% | -$104.2M -4.6% | -$165.8M -9.4% | -$157.3M -11.4% |
| Interest Expense | $3.0M 0.0% | $8.3M 0.1% | $27.2M 0.4% | $27.4M 0.5% | $163.3M 3.8% | $88.7M 2.6% | $83.9M 2.9% | $29.6M 1.3% | $24.5M 1.4% | $23.4M 1.7% |
| Interest & Investment Income | $363.5M 3.9% | $317.9M 4.0% | $224.4M 3.3% | $15.6M 0.3% | $8.5M 0.2% | $41.4M 1.2% | $69.8M 2.4% | $27.1M 1.2% | $14.7M 0.8% | $8.8M 0.6% |
| Other Income (Expense), net | $25.1M 0.3% | -$5.4M -0.1% | -$10.3M -0.1% | -$8.4M -0.2% | -$700K -0.0% | $1.2M 0.0% | -$2.9M -0.1% | $28.5M 1.3% | $10.2M 0.6% | $8.4M 0.6% |
| Pretax Income | $1.60B 17.3% | $988.3M 12.3% | $566.3M 8.2% | -$207.2M -3.8% | -$465.0M -10.9% | -$231.8M -6.8% | -$74.6M -2.6% | -$105.3M -4.6% | -$180.1M -10.2% | -$172.3M -12.5% |
| Income Tax Expense | $461.8M 5.0% | -$1.59B -19.8% | $126.6M 1.8% | $59.8M 1.1% | $33.9M 0.8% | $35.2M 1.0% | $7.3M 0.3% | $16.9M 0.7% | $22.9M 1.3% | $20.4M 1.5% |
| Net Income | $1.13B 12.3% | $2.58B 32.1% | $439.7M 6.4% | -$267.0M -4.9% | -$498.9M -11.7% | -$267.0M -7.8% | -$81.9M -2.8% | -$122.2M -5.4% | -$203.0M -11.5% | -$192.7M -14.0% |
| Per Share | ||||||||||
| EPS (Basic) | $1.71 | $4.04 | $0.73 | $-0.90 | $-1.73 | $-2.76 | $-0.87 | — | — | — |
| EPS (Diluted) | $1.60 | $3.64 | $0.64 | $-0.90 | $-1.73 | $-2.76 | $-0.87 | — | — | — |
| Weighted Avg Shares (Basic) | 662.5M | 638.5M | 606.4M | 295.6M | 289.1M | 96.9M | 94.5M | — | — | — |
| Weighted Avg Shares (Diluted) | 709.3M | 707.9M | 684.5M | 295.6M | 289.1M | 96.9M | 94.5M | — | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow, so a reverse DCF can't be run.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
4/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
EOD close · as of 2026-08-05
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 5.5× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 28.4 | 27.9 | 29.3 | 30.0 | 31.2 | 27.7 | 25.7 | 26.6 |
| Gross Profit | 71.6 | 72.1 | 70.7 | 70.0 | 68.8 | 72.3 | 74.3 | 73.4 |
| R&D | 17.6 | 18.6 | 22.5 | 26.8 | 25.8 | 23.3 | 22.5 | 21.5 |
| SG&A | 11.3 | 9.0 | 8.8 | 9.2 | 7.4 | 6.5 | 8.5 | 4.8 |
| Operating Income | -4.6 | -1.9 | -5.3 | -7.1 | -3.4 | 5.6 | 8.5 | 13.5 |
| Income Tax | 0.7 | 0.3 | 1.0 | 0.8 | 1.1 | 1.8 | -19.8 | 5.0 |
| Net Income | -5.4 | -2.8 | -7.8 | -11.7 | -4.9 | 6.4 | 32.1 | 12.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on PANW: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Ranked against 768 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVDA | $5.33T | 44.7× | 40.0× | 24.7× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.59T | 41.7× | 32.0× | 11.0× | 6.4% | 46.9% | 26.9% | 152% | 73.7% | 0.5× | 5,858 |
| MSFT | $3.62T | 27.2× | 19.1× | 10.9× | 17.8% | 67.9% | 40.3% | 30.2% | 28.2% | 0.2× | 5,944 |
| AVGO | $1.98T | 87.7× | 78.0× | 31.0× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.00T | 117.7× | 55.4× | 26.8× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $785.7B | 181.9× | 185.9× | 22.7× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| ASMLF | $649.1B | 68.2× | 51.8× | 19.9× | 15.6% | 52.8% | 29.4% | 49.0% | 43.1% | 0.2× | 2 |
| INTC | $504.7B | — | 62.9× | 9.6× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $481.1B | 47.6× | 40.2× | 8.5× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| AMAT | $423.7B | 61.7× | 48.7× | 14.9× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| LRCX | $390.0B | 74.1× | 62.2× | 21.2× | 23.7% | 48.7% | 29.1% | 54.3% | 39.5% | 0.6× | 2,500 |
| PLTR | $378.8B | 251.5× | 262.1× | 84.7× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| RPAY | $342.2B | — | — | 1106.6× | -1.2% | 75.0% | -83.0% | -53.0% | -33.6% | -1.1× | 142 |
| DELL | $301.7B | 53.3× | 28.8× | 2.7× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| ARM | $292.2B | 323.0× | 251.9× | 59.4× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| TXN | $252.4B | 51.0× | 33.1× | 14.3× | 13.0% | 57.0% | 28.3% | 30.7% | 16.8% | 1.7× | 2,345 |
| ANET | $247.8B | 71.7× | 62.6× | 27.5× | 28.6% | 64.1% | 0.0% | 0.0% | 0.0% | — | 1,930 |
| UMC | $242.3B | — | — | — | — | — | — | — | — | — | 302 |
| PANW | $242.3B | 226.7× | 151.3× | 26.3× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| SAPGF | $241.4B | — | — | — | — | — | — | — | — | — | 7 |
| IBM | $221.0B | 21.1× | — | 3.3× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| APH | $211.2B | 51.5× | 29.5× | 9.1× | 51.7% | 36.9% | 18.5% | 31.8% | 31.8% | — | 2,017 |
| SNDK | $197.2B | — | — | 26.8× | 10.4% | 30.1% | -22.3% | -17.8% | -14.9% | -1.5× | 1,127 |
| SHOP | $187.4B | 153.4× | 124.0× | 16.2× | 30.1% | 48.1% | 10.7% | 9.1% | 9.1% | — | 1,642 |
| ADI | $184.9B | 82.8× | 57.2× | 16.8× | 16.9% | 61.5% | 20.6% | 6.7% | 5.3% | 2.6× | 2,030 |
Peers = companies sharing PANW's sector (Technology) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.