Palo Alto Networks, Inc.PANWNASDAQ
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R&D Expenses Over TimeStrong
Percentile Rank100
3Y CAGR+8.3%
5Y CAGR+12.3%
Studio
Year-over-Year Change

Research and development spending

3Y CAGR
+8.3%/yr
vs +31.3%/yr prior
5Y CAGR
+12.3%/yr
Recent deceleration
Acceleration
-23.0pp
Decelerating
Percentile
P100
Near historical high
vs 5Y Ago
1.8x
Solid growth
Streak
9 yr
Consecutive growthStrong
PeriodValueYoY Change
TTM$2.04B+2.7%
2025$1.98B+9.7%
2024$1.81B+12.8%
2023$1.60B+13.1%
2022$1.42B+24.3%
2021$1.14B+48.5%
2020$768.10M+42.4%
2019$539.50M+34.6%
2018$400.70M+15.3%
2017$347.40M-