On this page of Benford's Law Stocks.com we present our study of Palo Alto Networks Inc — ticker symbol PANW. SEC filings have been screened by our Benford's Law software, for quarterly 10Q and annual 10K filings from 9/4/2020 to 5/20/2025 for Palo Alto Networks Inc under CIK number 0001327567. For filings made in XBRL (eXtensible Business Reporting Language) format, our algorithm extracts all "tagged" numbers presented by the company; for any non-XBRL filings our algorithm uses its own interal set of rules to extract what it believes to be numbers as found throughout the filings. The format found for each filing is presented below together with the results for PANW, with the percentage of found numbers beginning with each digit (1's, 2's, 3's, 4's, 5's, 6's, 7's, 8's, and 9's) charted against the "normal" range observed throughout our coverage universe, as well as the "normal" range for Palo Alto Networks Inc based on the past PANW filings our system processed in the past.
Benford Chart for PANW 10Q Filed 5/20/2025
25.9
16.2
13.1
10.7
8.3
8.8
6.3
4.3
6.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
XBRL? ✓  [ original filing, PANW stockholder letter ]
Total numbers found: 995
Recent share count: 328,100,000 (3's column)

■ = Typical range across full coverage universe
# of Numbers Found in Filing
Benford's Law Stocks Indicator
995
High count compared to other filers, with PANW falling in the highest quartile of filers. At this number count, it would take about 10 numbers to move any given column by a full percentage point.
Benford's Law Stocks Score for PANW = 75
75

Starting from a possible score of 100, we made the following score deductions:
 • The 6's percentage was higher than the 5's percentage, increasing the penalty multiplier.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 6's percentage was above the typical coverage universe range.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 6's percentage was above the company's typical historical range.
 • The 9's percentage was higher than the 8's percentage, increasing the penalty multiplier.
 • This is the 2nd column with percentage higher than the prior column, resulting in a penalty deduction.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 9's percentage was above the typical coverage universe range.
PANW's Score Vs. Typical Stock
Benford's Law Stocks Indicator
PANW
Normal score compared to other filers, falling within the middle 50%.
Other Stocks Ranking Near PANW
MMSI
OLMA
PHUN
ROCL
 MYPS
ORIC
PCTY
RDNT
Check our work! We provide our Palo Alto Networks Inc Benford's Law analysis for informational purposes only, and our software should be expected to make mistakes and contain errors (nothing you see on this website should be relied upon for any decision-making without first repeating the analysis yourself independently), and so below we present to you all of the numbers our system detected, for the PANW filing above. This way, you can open the filing on your own and compare what you see below against what you yourself find. This can also be helpful for exploring any columns in particular that caught your eye.

1's 2's 3's
We found 258 numbers that start with the digit 1. Here they are:
1,535.2
1,043.6
10.6
1,950.0
1,068.9
1,182.1
19,990.9
116.3
14,772.3
14,821.2
100.0
1.6
1,350.2
19,990.9
1,228.0
1,122.8
1,836.3
1,593.8
1,984.8
100.7
1,495.6
1,242.0
1,772.6
1,485.5
1,669.7
1,471.2
1,480.6
1,314.6
163.9
118.6
1,450.9
1,294.5
176.7
1,003.9
123.8
1,550.6
1.33
1.24
15.1
1
13.6
14.8
12.2
13.9
1,968.2
1
1
115.8
115.8
1.7
1.7
1.6
1,350.2
15.7
183.1
183.1
1,227.4
1,748.4
12.2
12.2
16.0
11.3
11.3
18.0
1,818.3
1.0
101.8
118.7
165.0
1,208.5
1,364.3
159.9
109.4
1,442.2
1,341.4
183.1
1,163.8
1,546.8
1,142.2
1,381.9
1,373.7
11.6
1,381.9
1.0
1,424.4
1,271.1
104.8
1,529.2
1,359.6
1,402.3
1,170.9
1,984.8
1,228.0
1,122.8
1,234.4
1,045.6
1,797.8
1,654.2
1,836.3
1,593.8
1,984.8
13.5
1,060.7
1,060.7
18.2
18.2
149.6
149.6
1,060.7
1,636.4
18.2
18.2
1,043.6
1,043.6
19.0
19.0
1,225.0
1,225.0
10.9
10.9
1
1
10.9
10.9
1
1
1,060.7
15.3
15.3
15.3
15.3
16.2
16.2
1.2
1
1,231.7
11.9
1,243.2
1.6
18.2
18.2
149.6
149.6
1
1
1.4
145.5
1.5
1,491.6
1,492.5
1,803.7
1,820.0
156.1
158.8
1.1
1,154.3
1,286.4
1,068.9
1,182.1
118.1
1,266.2
14.7
1,422.3
170.7
172.0
1.1
1
15.7
1,061.0
1,819.7
1,161.3
1,926.3
1.1
10.6
1.1
1,142.6
1.4
1.9
1,142.6
12.0
137.0
172.7
16.6
18.2
10.3
1
1,499.2
1,015.1
128.8
141.9
111.0
130
100
130
100
150.9
11.3
1
1.7
1.4
1.5
1.8
1.0
11.3
145.4
18.0
1.000
1.375
150
137.2
1,792.7
196.7
135.2
104.3
162.7
1,796.2
127.3
151.5
113.6
184.4
144.1
1.3
1.0
146.96
142.00
1.0
18.0
102.59
10.0
1,624.2
188.95
1.2
1.6
111.29
14.6
135.64
140.92
1,765.5
173.46
1,244.9
1.7
1.7
1.2
1.6
133.4
128.2
173.0
15.6
12.3
11.0
1.7
1.6
19.1
10.6
15.0
1.33
1.24
13.3
We found 161 numbers that start with the digit 2. Here they are:
2,383.4
2,618.6
2,452.2
2,399.0
22,002.8
234.8
26.2
2,000.0
2,230.3
22,002.8
2,289.0
277.0
243.5
2,270.9
2,052.2
218.8
2.3
2.8
261.0
231.8
251.2
27.6
262.1
278.8
2,219.9
262.1
278.8
2,219.9
23.6
2.6
20.6
28.4
26.0
229.9
2,207.7
262.1
262.1
202.0
202.0
2.2
2.2
2,230.3
278.8
278.8
270.0
270.0
2,230.3
2,219.9
2,219.9
258.1
258.1
22.7
22.7
2.2
2.2
2,219.9
259.6
207.2
2.9
20.3
285.2
20.5
227.4
2,695.2
2,744.9
2,821.2
2,486.5
259.7
22.7
239.7
2,395.0
2,383.4
2,395.0
27.4
2.0
256.8
278.9
226.0
2,289.0
2,289.0
299.6
299.6
20.6
20.6
2.7
2.7
26.3
26.3
2
2
2
20.3
28.8
29.4
299.6
299.6
20.6
20.6
28.3
21.9
2
21.7
2
2,868.6
2,908.2
262.6
265.3
21.5
262.6
272.2
21.1
20.2
25.0
288.9
22.2
28.1
23.0
213.8
287.7
26.3
285.5
2.0
20
20
2.2
2
2.9
2.3
2.8
2.2
202.8
2.4
213.0
2,924.4
201.59
2,721.3
2.7
264.51
258.3
258.3
258.2
229.1
29.4
263.5
2.4
231.7
262.1
278.8
2,219.9
22.8
25.1
22.1
25.2
26.5
22.3
23.7
265.4
234.8
2.9
261.0
231.8
We found 130 numbers that start with the digit 3. Here they are:
387.1
369.0
367.0
361.1
357.3
385.9
3,350.1
374.9
396.9
352.9
383.2
387.7
345.7
380.5
3,821.1
391.0
3,907.0
310.5
39
3.50
37
39
3.14
31.6
39.3
30.4
30.3
324.0
334.4
334.4
3,650.0
3.4
3.4
3.4
3,530.7
3,821.1
360.4
360.4
3,019.0
3,530.7
344.1
324.7
35.2
328.4
34.6
360.6
3,723.6
304.7
3,980.4
399.2
391.0
3,659.4
3,061.0
3.7
3.1
3.1
3
3
3,822.6
3,822.6
3,151.3
3,151.3
36.9
36.9
36.9
36.9
347.6
347.6
347.6
353.3
321.6
321.6
321.6
321.8
35.4
323.1
3
3.2
3
37.6
36.1
30.4
31.4
375.6
34.1
3,350.1
3
374.9
33.4
37.5
375
375
30
30
383.3
383.2
3.2
370.8
38.1
350.0
375
3,797.2
37.1
3.4
3.5
376.7
316.7
3.4
3.8
3.2
3.4
3.7
305.83
310.61
32.66
32.66
32.67
32.67
3.8
32.2
30.0
386.9
325.9
3.3
32.6
39
3.50
37
39
3.14
4's 5's 6's
We found 106 numbers that start with the digit 4. Here they are:
4,173.2
4,050.8
430.9
4,952.2
48.0
452.7
4,715.2
435.7
4,912.6
4,352.5
494.5
457.2
415.4
4,166.9
445.5
48.4
43
48.9
49.6
4,421.0
4,952.2
48.0
4,357.2
48.9
48.9
4.7
4,467.8
49.6
49.6
4,952.2
48.0
43.2
4.0
4,467.8
441.5
48.1
40.7
46.5
412.7
47.2
48.5
499.5
404.8
4,169.0
4,473.7
480.9
452.7
4,715.2
4.4
494.0
494.0
494.0
467.4
4.2
4.2
4,173.2
4,173.2
4.1
4.1
4.1
4.1
494.0
4.3
4,607.4
4,657.4
4
467.4
467.4
4,065.5
4,087.2
494.0
477.3
44.4
466.4
4.1
438.1
476.0
464.0
476.0
4,050.8
499.7
43.2
40.3
49.60
40.3
40.3
400.0
4,206.9
40.3
4.1
4.0
43.5
47.6
40.8
43.4
4.5
4.4
410.8
40.0
43
4.0
4.8
4.5
4.9
4.3
4,889,520
We found 83 numbers that start with the digit 5. Here they are:
524.4
557.4
5,152.3
528.2
562.0
506.2
554.7
506.7
5,756.8
5,541.1
5,816.8
5,939.4
5,169.7
5,457.2
5,838.0
518.6
513.6
540.2
5.5
5.4
5.5
5.3
5.3
500.0
500.0
55.4
5,169.7
566.7
566.7
55.4
500.8
582.3
566.7
5,838.0
548.2
5,457.2
5,838.0
575.0
575.0
575.7
53.6
53.6
54.4
54.4
5,152.3
5,152.3
5,688.4
5.7
5.7
5.7
5.9
575.0
575.0
575.7
575.7
53.6
53.6
51.2
57.9
58.6
5,188.9
5,216.8
5.0
533.3
54.6
563.8
500.0
5
526.2
582.3
5
5.1
518.1
599.8
57.9
576.0
500.0
500.0
566.7
5.0
5.3
5.8
5.9
We found 88 numbers that start with the digit 6. Here they are:
666.8
6,899.0
6,849.7
665.9
650.2
6,685.2
619.3
669.3
665.1
645.8
659.3
635.0
61.9
660.4
6,375.3
61.9
61.9
665.9
645.4
6.5
646.7
650.2
665.9
616.7
646.7
668.6
67.8
63.4
610.6
648.9
686.7
6,685.2
601.9
6,685.2
6.2
6,692.6
6,182.4
669.2
675.1
664.9
648.9
669.2
669.2
6
6,006.9
63.8
6,069.1
6.6
6.3
6
691.9
6.0
6,582.6
6,644.8
674.3
648.9
6.3
6.3
612.1
636.7
6
640.2
64.2
661.8
6
6
6
6
60
69.63
68.08
60
64.1
685.3
61.5
6.8
606.6
688.7
676.1
6.8
64.51
6.3
67.5
665.1
645.8
659.3
635.0
6.6
7's 8's 9's
We found 63 numbers that start with the digit 7. Here they are:
7.5
737.3
725.9
730.2
7,705.6
7,682.7
7,230.5
77.9
792.5
718.7
745.7
7
76.8
707.4
709.3
708.6
708.0
7,230.5
713.7
7,230.5
748.9
7
7
79.9
79.9
7.1
7.1
78.4
78.4
7,753.3
7
7
79.9
79.9
7
7.5
737.3
725.9
76.9
794.3
7
700.0
700.7
700.7
76.6
7.9
769.0
730.2
730.2
7
75
700.0
77.95
7.9
74.3
7.4
707.4
709.3
708.6
708.0
78.3
7.8
76.8
We found 43 numbers that start with the digit 8. Here they are:
824.6
878.0
8.0
880.1
880.1
880.1
880.1
8.4
8.4
845.2
845.2
880.1
806.5
867.7
829.9
834.1
848.2
8.2
88.5
809.2
834.8
834.8
85.4
85.5
833.7
830.2
8.6
8.5
885.9
804.8
825.9
813.9
8
86.7
8.4
834.1
8
8.0
8.4
809.8
880.1
8.2
8.9
We found 63 numbers that start with the digit 9. Here they are:
916.8
963.9
92.4
9.6
929.7
9.1
9.1
992.5
953.8
953.8
992.5
940.7
961.4
935.9
935.9
916.8
916.8
948.5
948.5
9
9
9
9
943.1
948.8
949.4
915.3
91.4
95.7
94.6
9.7
9.2
99.3
9.1
9.5
9
96.1
9.7
9.4
9.4
9.4
9.4
9
9
90.1
98
9.1
965.6
963.9
9.1
915.0
92.64
91.73
9.4
9.6
94.9
91.3
91.6
96.2
940.7
9.1
92.8
92.4
While the above PANW 10Q Filed 5/20/2025 is interesting in isolation, we have found that it is also useful to take a look at older Palo Alto Networks Inc filings processed by our Benford's Law Stocks algorithm, to see how the company's filings "typically look" on a Benford's Law analysis. Below we repeat the 10Q Filed 5/20/2025 but instead of the chart comparing against the typical company across our coverage universe, below we show the same chart compared against the typical PANW 10Q and 10K filings that we have processed historically. This is followed by similar charts for each of those historical filings.

10Q Filed 5/20/2025
25.9
16.2
13.1
10.7
8.3
8.8
6.3
4.3
6.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 75
XBRL? ✓  [ original filing ]
Total numbers found: 995

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10K Filed 9/6/2024
29.3
17.6
13.4
11.5
7.9
5.8
4.6
3.8
6.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 92
XBRL? ✓  [ original filing ]
Total numbers found: 1,292

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10Q Filed 11/17/2023
30.3
17.0
16.6
11.4
6.3
7.9
4.1
3.3
3.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 86
XBRL? ✓  [ original filing ]
Total numbers found: 699

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10Q Filed 2/21/2023
32.0
19.9
14.3
4.7
7.9
7.4
5.4
4.4
4.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 97
XBRL? ✓  [ original filing ]
Total numbers found: 952

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10Q Filed 5/19/2022
27.9
18.7
16.1
7.6
6.3
6.4
7.2
2.9
6.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 58
XBRL? ✓  [ original filing ]
Total numbers found: 857

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10K Filed 9/3/2021
32.0
18.1
14.6
7.9
7.4
5.5
5.5
3.6
5.4
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 96
XBRL? ✓  [ original filing ]
Total numbers found: 1,339

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10Q Filed 11/19/2020
27.9
18.1
13.9
7.7
8.0
7.2
4.4
3.4
9.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 49
XBRL? ✓  [ original filing ]
Total numbers found: 613

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10Q Filed 2/14/2025
29.5
14.0
12.6
10.9
7.2
10.2
4.8
4.3
6.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 61
XBRL? ✓  [ original filing ]
Total numbers found: 1,008

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10Q Filed 5/20/2024
26.8
19.3
17.0
9.0
8.8
5.3
4.9
5.0
4.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 93
XBRL? ✓  [ original filing ]
Total numbers found: 947

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10K Filed 9/1/2023
32.1
18.6
13.1
10.1
6.7
5.5
5.2
3.8
5.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 100
XBRL? ✓  [ original filing ]
Total numbers found: 1,272

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10Q Filed 11/17/2022
31.6
20.8
16.4
5.1
8.7
4.8
4.5
4.2
4.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 90
XBRL? ✓  [ original filing ]
Total numbers found: 732

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10Q Filed 2/22/2022
32.9
16.9
12.0
9.0
8.0
6.2
4.9
4.1
6.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 95
XBRL? ✓  [ original filing ]
Total numbers found: 852

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10Q Filed 5/20/2021
30.7
19.3
14.4
6.7
6.5
6.4
6.6
3.4
6.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 83
XBRL? ✓  [ original filing ]
Total numbers found: 877

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10K Filed 9/4/2020
31.1
18.3
15.0
6.2
8.1
6.6
5.7
4.5
4.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 97
XBRL? ✓  [ original filing ]
Total numbers found: 1,413

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10Q Filed 11/20/2024
28.1
13.7
15.6
11.2
8.2
7.2
5.7
3.5
6.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 85
XBRL? ✓  [ original filing ]
Total numbers found: 793

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10Q Filed 2/20/2024
31.3
14.2
15.8
8.7
9.1
7.2
5.3
5.7
2.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 77
XBRL? ✓  [ original filing ]
Total numbers found: 965

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10Q Filed 5/23/2023
27.9
22.5
16.7
6.6
5.8
5.2
5.4
4.8
5.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 82
XBRL? ✓  [ original filing ]
Total numbers found: 963

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10K Filed 9/6/2022
31.3
20.2
13.2
9.3
6.5
5.6
5.0
3.7
5.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 97
XBRL? ✓  [ original filing ]
Total numbers found: 1,286

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10Q Filed 11/18/2021
28.6
20.8
12.0
8.3
6.5
5.9
5.3
5.5
7.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 71
XBRL? ✓  [ original filing ]
Total numbers found: 660

■ = Typical PANW range from 9/4/2020 to 5/20/2025
10Q Filed 2/22/2021
33.2
18.1
14.4
6.9
6.9
6.1
6.0
2.8
5.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 95
XBRL? ✓  [ original filing ]
Total numbers found: 855

■ = Typical PANW range from 9/4/2020 to 5/20/2025
IHT 10Q Filed 6/20/2025:
80
AIMAU 10Q Filed 6/20/2025:
57
LVPA 10Q Filed 6/20/2025:
0
RMCF 10K Filed 6/20/2025:
65
CYAN 10K Filed 6/20/2025:
63
XAIR 10K Filed 6/20/2025:
91
ACN 10Q Filed 6/20/2025:
91
MDT 10K Filed 6/20/2025:
94
SWBI 10K Filed 6/20/2025:
97
MODD 10K Filed 6/20/2025:
98
ORCL 10K Filed 6/18/2025:
96
SJM 10K Filed 6/18/2025:
98
GSIT 10K Filed 6/18/2025:
84
GMS 10K Filed 6/18/2025:
87
VNCE 10Q Filed 6/17/2025:
54
KIRK 10Q Filed 6/17/2025:
46
VTGN 10K Filed 6/17/2025:
63
LZB 10K Filed 6/17/2025:
80
SNOA 10K Filed 6/17/2025:
81
POWW 10K Filed 6/16/2025:
89
GDST 10K Filed 6/16/2025:
74
BCTX 10Q Filed 6/16/2025:
94
PURE 10Q Filed 6/16/2025:
77
RFIL 10Q Filed 6/16/2025:
97
STRM 10Q Filed 6/16/2025:
86
ZEO 10Q Filed 6/16/2025:
89
NMEX 10Q Filed 6/16/2025:
32
APPS 10K Filed 6/16/2025:
94
NOBH 10Q Filed 6/16/2025:
64
GLAI 10K Filed 6/16/2025:
51
CODA 10Q Filed 6/16/2025:
87
VGES 10Q Filed 6/16/2025:
65
NVAC 10Q Filed 6/13/2025:
78
ODYY 10Q Filed 6/13/2025:
36
COPR 10Q Filed 6/13/2025:
82
HFUS 10Q Filed 6/13/2025:
35
ZDGE 10Q Filed 6/13/2025:
87
AZO 10Q Filed 6/13/2025:
90
HMMR 10Q Filed 6/13/2025:
40
CLEV 10Q Filed 6/13/2025:
39
 

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