PANW.NEPANW.NENEO
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Operating Expenses Over TimeStrong
Percentile Rank100
3Y CAGR+8.5%
5Y CAGR+12.3%
Studio
Year-over-Year Change

Expenses from normal business operations (SG&A, R&D, etc.)

3Y CAGR
+8.5%/yr
vs +21.0%/yr prior
5Y CAGR
+12.3%/yr
Recent deceleration
Acceleration
-12.5pp
Decelerating
Percentile
P100
Near historical high
vs 5Y Ago
1.8x
Solid growth
Streak
9 yr
Consecutive growthStrong
PeriodValueYoY Change
TTM$5.87B+6.2%
2025$5.53B+4.6%
2024$5.28B+15.0%
2023$4.60B+15.7%
2022$3.97B+20.9%
2021$3.29B+26.9%
2020$2.59B+20.6%
2019$2.15B+22.1%
2018$1.76B+19.9%
2017$1.46B-