Palo Alto Networks Is Worth Nearly $300 Billion. A Year Ago It Was Worth About $113 Billion.

Palo Alto Networks' market value has soared from $113 billion to nearly $300 billion in a year, a 150% gain, despite revenue growth of about 24% for fiscal 2026. The company's market capitalization increase is largely attributed to investors paying a higher multiple for its earnings, currently trading at about 96 times its adjusted EPS guidance for fiscal 2026, driven by expectations for AI-security opportunities and successful acquisitions like CyberArk and Chronosphere. While the business is growing and executing well, the author suggests the stock's valuation reflects years of future execution rather than current extraordinary growth.