Palo Alto Networks (PANW) FY2018 results: revenue $2.3 billion, up 29.5% on the year
Palo Alto Networks Inc. (PANW) reported revenue of $2.3 billion for fiscal 2018, the year ended 31 July 2018, up 29.5% on the year before. Net income was -$122 million, and diluted earnings per share $-0.27. The figures are the company's own, from the 10-K it filed with the SEC on 13 September 2018.
Revenue
$2.3 billion
+29.5% on the year
FY2011FY2018
Operating margin
-4.6%
-9.4% a year earlier
FY2011FY2018
Net income
-$122 million
FY2011FY2018
Diluted EPS
-$0.27
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
2,273
1,755
1,378
+29.5%
Cost of revenue
645
477
370
+35.4%
Gross profit
1,628
1,279
1,008
+27.3%
Gross margin
71.6%
72.9%
73.2%
Research and development
401
347
284
+15.3%
Operating income
-104
-166
-157
Operating margin
-4.6%
-9.4%
-11.4%
Interest expense
29.6
24.5
23.4
+20.8%
Pre-tax income
-105
-180
-172
Income tax
16.9
22.9
20.4
-26.2%
Net income
-122
-203
-193
Net margin
-5.4%
-11.6%
-14.0%
Diluted EPS
-$0.27
-$0.40
-$0.43
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,037
868
658
+19.4%
Capital expenditure
112
163
72.5
-31.5%
Free cash flow
925
705
586
+31.2%
Free cash flow margin
40.7%
40.2%
42.5%
Cash from investing
-520
-473
-339
Cash from financing
1,246
-386
38.9
Depreciation and amortisation
96.4
59.8
42.8
+61.2%
Share-based compensation
497
474
393
+4.7%
Buybacks
259
411
0.0
-37.0%
Shares outstanding at period end
562m
549m
543m
+2.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,160
760
895
+52.8%
Non-controlling interest
n/a
168
155
Redeemable equity
21.9
0.0
0.0
Debt
1,920
525
500
+265.9%
Other liabilities
2,847
1,986
1,308
+43.3%
Total liabilities and equity
5,949
3,438
2,858
+73.0%
Fixed assets
273
211
117
+29.4%
Goodwill
523
239
164
+118.9%
Intangible assets
141
53.7
44.0
+162.2%
Investments
1,444
1,420
1,204
+1.7%
Cash and equivalents
2,507
744
734
+236.8%
Receivables
467
432
349
+8.1%
Other assets
594
338
246
+75.6%
Total assets
5,949
3,438
2,858
+73.0%
10-K for the year ended 31 July 2018, filed 13 September 2018: the filing.