Palo Alto Networks (PANW) FY2017 results: revenue $1.8 billion, up 27.3% on the year
Palo Alto Networks Inc. (PANW) reported revenue of $1.8 billion for fiscal 2017, the year ended 31 July 2017, up 27.3% on the year before. Net income was -$203 million, and diluted earnings per share $-0.40. The figures are the company's own, from the 10-K it filed with the SEC on 7 September 2017.
Revenue
$1.8 billion
+27.3% on the year
FY2011FY2017
Operating margin
-9.4%
-11.4% a year earlier
FY2011FY2017
Net income
-$203 million
FY2011FY2017
Diluted EPS
-$0.40
FY2011FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,755
1,378
928
+27.3%
Cost of revenue
477
370
251
+28.8%
Gross profit
1,279
1,008
677
+26.8%
Gross margin
72.9%
73.2%
72.9%
Research and development
347
284
186
+22.2%
Operating income
-166
-157
-99.8
Operating margin
-9.4%
-11.4%
-10.8%
Interest expense
24.5
23.4
22.3
+4.7%
Pre-tax income
-180
-172
-122
Income tax
22.9
20.4
9.4
+12.3%
Net income
-203
-193
-131
Net margin
-11.6%
-14.0%
-14.1%
Diluted EPS
-$0.40
-$0.43
-$0.34
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
868
658
353
+32.0%
Capital expenditure
163
72.5
33.8
+125.4%
Free cash flow
705
586
319
+20.4%
Free cash flow margin
40.2%
42.5%
34.4%
Cash from investing
-473
-339
-679
Cash from financing
-386
38.9
48.2
Depreciation and amortisation
59.8
42.8
28.9
+39.7%
Share-based compensation
474
393
221
+20.8%
Buybacks
411
0.0
0.0
Shares outstanding at period end
549m
543m
509m
+1.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
760
895
488
-15.1%
Non-controlling interest
168
155
71.8
+8.8%
Redeemable equity
0.0
0.0
87.9
Debt
525
500
487
+4.9%
Other liabilities
1,986
1,308
830
+51.8%
Total liabilities and equity
3,438
2,858
1,965
+20.3%
Fixed assets
211
117
62.9
+80.1%
Goodwill
239
164
164
+46.1%
Intangible assets
53.7
44.0
52.7
+22.0%
Investments
1,420
1,204
952
+17.9%
Cash and equivalents
744
734
376
+1.3%
Receivables
432
349
212
+23.9%
Other assets
338
246
146
+37.3%
Total assets
3,438
2,858
1,965
+20.3%
10-K for the year ended 31 July 2017, filed 7 September 2017: the filing.