# Palo Alto Networks CDR (CAD Hedged) (PANW.TO) fundamentals

Data as of 2026-11-04. TSX, Canada. Sector: Technology / Software. Price C$40.90, market value C$384.6 billion.

## Valuation
- **P/E (trailing): 818.0×** (5-yr avg 1119.1×, 3-yr avg 1119.1×). Palo Alto Networks CDR (CAD Hedged) trades at 818.0× trailing earnings, well below its own five-year average of 1119.1×: cheap by its own standards. The Technology median in the September 2026 study was 32.1×.
- **Price / sales: 33.5×**. Each dollar of revenue is priced at 33.5×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 50.8×**. The shares trade at 50.8× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: 1.1%** (5-yr avg 1.2%). Free cash flow equals 1.1% of the market value, in line with its five-year average of 1.2%.
- **Earnings yield: 0.1%**. The inverse of the P/E: 0.1% of the price is earned each year.

## Profitability
- **Gross margin: 70.4%**. Palo Alto Networks CDR (CAD Hedged) keeps 70.4% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 6.1%**. 6.1% of revenue is left after running the business.
- **Net margin: 2.7%**. 2.7% of each dollar of sales reaches the bottom line.
- **Return on equity: 1.1%**. 1.1% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 1.5%**. Return on all capital, debt included, is 1.5%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 0.6%**. Each dollar of assets produces 0.6% of profit.

## Growth
- **Revenue growth (1 yr): 24.5%** (3-yr 18.5%/yr). Revenue grew 24.5% over the last year.
- **EPS growth (1 yr): -75.0%** (3-yr -14.5%/yr). Earnings per share fell 75.0%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 16.1%/yr**. Free cash flow has compounded at 16.1% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.09**. Debt is 0.09 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. Palo Alto Networks CDR (CAD Hedged) holds more cash than debt.
- **Current ratio: 0.87** (quick 0.87). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 12.55**. A Z-score of 12.55 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Palo Alto Networks CDR (CAD Hedged) does not currently pay a dividend.

## Price and momentum
- **From 52-week high: -18.9%** (146.7% above the low). Trading 19% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 46**. An RSI of 46 is neutral.
- **Beta (1 yr): 0.47** (volatility 53%). Beta of 0.47 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=PANW.TO · Page: https://foliofundamentals.com/stocks/panw.to

Not investment advice.