CrowdStrike vs Palo Alto — Operating Income Comparison

CrowdStrike (CRWD) operating income was -$293M in FY2026 (-152% YoY); Palo Alto (PANW) operating income was $1.2B in FY2025 (+82% YoY). The tables below show the complete quarterly and annual operating income history, sourced from SEC EDGAR 10-K and 10-Q filings.

Fiscal Year	CrowdStrike	Palo Alto
2026	-$293M	—
2025	-$116M	$1.2B
2024	-$19M	$684M
2023	-$190M	$387M
2022	-$143M	-$189M
2021	-$93M	-$304M
2020	-$146M	-$179M
2019	-$137M	-$54M
2018	-$131M	-$104M
2017	—	-$180M
2016	—	-$157M
2015	—	-$100M
2014	—	-$215M
2013	—	-$19M
2012	—	$4M
2011	—	-$10M

CrowdStrike — Annual Operating Income

Fiscal Year	Operating Income	YoY
2026	-$293M	-152%
2025	-$116M	-508%
2024	-$19M	+90%
2023	-$190M	-33%
2022	-$143M	-54%
2021	-$93M	+37%
2020	-$146M	-7%
2019	-$137M	-4%
2018	-$131M

Palo Alto — Annual Operating Income

Fiscal Year	Operating Income	YoY
2025	$1.2B	+82%
2024	$684M	+77%
2023	$387M	+305%
2022	-$189M	+38%
2021	-$304M	-70%
2020	-$179M	-231%
2019	-$54M	+48%
2018	-$104M	+42%
2017	-$180M	-14%
2016	-$157M	-58%
2015	-$100M	+54%
2014	-$215M	-1056%
2013	-$19M	-579%
2012	$4M	+137%
2011	-$10M

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