• Palo Alto Networks average return on tangible equity for 2023 was -16.14, a 240.47% decline from 2022.
• Palo Alto Networks average return on tangible equity for 2022 was 11.49, a 50.75% decline from 2021.
• Palo Alto Networks average return on tangible equity for 2021 was 23.33, a 78.73% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.