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Palo Alto Networks price to book ratio PANW

Market value divided by the book value of the company's net assets, since 2012.

Today, Oct 23, 2026
11.3×
10-year median
21.2×
Against its 10-year history
5th
percentile: 0 is its lowest day, 100 its highest
10-year range
8.0× to 165×
Peer median
10.9×

Palo Alto Networks' price to book ratio is 11.3× as of Oct 23, 2026.

That is below its ten-year median of 21.2×, lower than on 95% of days in the last ten years.

Over that time it ranged from 8.0× in Jun 2026 to 165× in Aug 2022.

The median for 10 infrastructure software stocks of a similar size is 10.9×.

Price to book ratio over time

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

YearEnd of yearLowHigh
2026 so far11.3×8.0×24.5×
202515.2×14.7×22.2×
202420.7×19.9×54.8×
202342.8×38.7×101×
202283.1×83.1×165×
2021106×29.7×107×
202045.3×8.9×46.8×
201915.1×12.4×21.9×
201813.9×13.1×30.4×
201720.0×11.5×20.8×
201613.4×13.4×25.7×
201527.8×19.8×36.3×
201420.8×14.4×28.4×
201314.5×10.8×17.0×
201215.3×14.5×15.9×

Against its peers

Companies in Software - Infrastructure nearest Palo Alto Networks' size, closest first, today.

CompanyPrice to book ratio
PANWPalo Alto Networks11.3×
CRWDCrowdStrike51.7×
ORCLOracle5.7×
PLTRPalantir Technologies48.4×
FTNTFortinet85.1×
NETCloudflare71.6×
SNPSSynopsys2.6×
XYZBlock2.1×
ZSZscaler16.0×
TWLOTwilio4.5×
OKTAOkta5.3×
Peer median10.9×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

More on Palo Alto Networks

Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.