ServiceNow vs Palo Alto Networks
ServiceNow is the larger business, with $13.28bn of revenue in fiscal 2025 against $11.48bn for Palo Alto Networks (1.2 times as much). Palo Alto Networks grew faster (24.5% against 20.9%). ServiceNow kept more of each dollar of sales as profit: a net margin of 13.2% against 2.7%. Palo Alto Networks carries less debt relative to equity (6.5% against 11.5%).
| Latest fiscal year | ServiceNowNOW, 2025 | Palo Alto NetworksPANW, 2026 |
|---|---|---|
| Revenue | $13.28bn | $11.48bn |
| Revenue growth | 20.9% | 24.5% |
| Net income | $1.75bn | $307m |
| Operating margin | 13.7% | 6.1% |
| Net margin | 13.2% | 2.7% |
| Return on equity | 15.5% | 1.7% |
| Free cash flow | $4.58bn | $4.11bn |
| Cash | $3.73bn | $2.51bn |
| Total debt | $1.49bn | $1.77bn |
| Debt to equity | 11.5% | 6.5% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $1.84bn | $1.00bn |
| Employees | 26,293 | — |
| Market value | $112.82bn | $285.89bn |
| Price vs our value range | Within our value range | Above our value range |
| Moat score | 56 (Moderate) | 65 (Moderate) |
| Insider trades, 12 months | 2 buys, 29 sales | 2 buys, 101 sales |