CrowdStrike vs Palo Alto — Free Cash Flow Comparison

CrowdStrike (CRWD) free cash flow was $1.2B in FY2026 (+16% YoY); Palo Alto (PANW) free cash flow was $3.5B in FY2025 (+12% YoY). The tables below show the complete quarterly and annual free cash flow history, sourced from SEC EDGAR 10-K and 10-Q filings.

Fiscal Year	CrowdStrike	Palo Alto
2026	$1.2B	—
2025	$1.1B	$3.5B
2024	$940M	$3.1B
2023	$677M	$2.6B
2022	$442M	$1.8B
2021	$293M	$1.4B
2020	$12M	$821M
2019	-$66M	$924M
2018	-$88M	$926M
2017	—	$705M
2016	—	$586M
2015	—	$319M
2014	—	$52M
2013	—	$92M
2012	—	$63M
2011	—	$19M

CrowdStrike — Annual Free Cash Flow

Fiscal Year	Free Cash Flow	YoY
2026	$1.2B	+16%
2025	$1.1B	+14%
2024	$940M	+39%
2023	$677M	+53%
2022	$442M	+51%
2021	$293M	+2252%
2020	$12M	+119%
2019	-$66M	+26%
2018	-$88M

Palo Alto — Annual Free Cash Flow

Fiscal Year	Free Cash Flow	YoY
2025	$3.5B	+12%
2024	$3.1B	+18%
2023	$2.6B	+47%
2022	$1.8B	+29%
2021	$1.4B	+69%
2020	$821M	-11%
2019	$924M	-0%
2018	$926M	+31%
2017	$705M	+20%
2016	$586M	+84%
2015	$319M	+510%
2014	$52M	-43%
2013	$92M	+47%
2012	$63M	+229%
2011	$19M

Source: CRWD on EDGAR · PANW on EDGAR. Data from SEC EDGAR 10-K and 10-Q filings. Updated quarterly.