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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
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Company details
Market cap
~$220B
Revenue (FY25)
$9.2B
NGS ARR
$5.6B
Rev. growth
+15%
P/E ratio
~110×
RPO
$15.8B
Free cash flow
~$3.5B
Customers
~80,000
In plain English
Palo Alto Networks is the largest pure-play cybersecurity company. It started as a next-generation firewall maker and, under a 'platformization' strategy, has folded a long string of acquisitions into three big platforms — Network Security (firewalls + SASE), Cortex (AI-driven security operations) and Prisma Cloud — and, after buying CyberArk for ~$25B in 2026, identity security too. Its products defend enterprises and governments against cyberattacks.
In simple terms
What Palo Alto Networks really sells
Palo Alto Networks is the largest pure-play cybersecurity company. It started as a next-generation firewall maker and, under a 'platformization' strategy, has folded a long string of acquisitions into three big platforms — Network Security (firewalls + SASE), Cortex (AI-driven security operations) and Prisma Cloud — and, after buying CyberArk for ~$25B in 2026, identity security too. Its products defend enterprises and governments against cyberattacks.
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