MSTR vs. PANW: Strategy vs. Palo Alto Networks Stock Comparison

November 11, 2026

How do Strategy (MSTR) and Palo Alto Networks (PANW) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Strategy (MSTR) and Palo Alto Networks (PANW) both belong to the Software industry, though MSTR is classified under Application Software while PANW falls under Systems Software.

Company profile comparison for Strategy (MSTR) and Palo Alto Networks (PANW)
Profile Item	MSTR	PANW
Name	Strategy Inc.	Palo Alto Networks, Inc.
Country/Region	United States	United States
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Software & Services	Software & Services
GICS Industry	Software	Software
GICS Sub-Industry	Application Software	Systems Software
Market Capitalization	54.57 billion USD	256.86 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	June 11, 1998	July 20, 2012
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

MSTR

PANW

GSPC

Strategy (MSTR) vs. Palo Alto Networks (PANW), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for Strategy (MSTR) and Palo Alto Networks (PANW). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

Calendar-year total returns for Strategy (MSTR) and Palo Alto Networks (PANW). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Strategy (MSTR) and Palo Alto Networks (PANW)
Metric	MSTR	PANW
Total Return (1Y)	-48.13%	53.99%
Total Return (3Y, Annualized)	36.44%	39.16%
Total Return (5Y, Annualized)	7.87%	30.80%

Risk Profile

Drawdown History

MSTR

PANW

GSPC

Strategy (MSTR) vs. Palo Alto Networks (PANW), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

Loading price history…

Distribution of monthly total returns for Strategy (MSTR) and Palo Alto Networks (PANW). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Strategy (MSTR) carries a highly aggressive beta of 3.60, indicating much higher sensitivity to broad-market moves, whereas Palo Alto Networks (PANW) is closer to market-like at 1.00 — a noticeable difference in market-sensitivity profile.

Risk profile metrics for Strategy (MSTR) and Palo Alto Networks (PANW)
Metric	MSTR	PANW
Volatility (1Y, Annualized)	82.34%	51.34%
Beta (5Y)	3.60	1.00
Max Drawdown (5Y)	-84.09%	-36.01%
Avg. Volume (3M)	22.35M	6.03M

Risk-Adjusted Performance

Risk-Return Positioning

MSTR and PANW are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Strategy (MSTR) and Palo Alto Networks (PANW)
Metric	MSTR	PANW
Sharpe Ratio (1Y)	-0.64	0.97
Sortino Ratio (1Y)	-0.97	1.49

Profitability

ROE (TTM)

Strategy (MSTR) reports a negative ROE of -21.59%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile Palo Alto Networks (PANW) reports 1.74%, ranking against industry peers normally.

MSTR

Software & Services industry group

-21.59%

Max: 53.85%
Q3: 17.90%
Median: 6.59%
Q1: -9.59%
MSTR: -21.59%
Min: -50.52%

PANW

Software & Services industry group

1.74%

Max: 53.85%
Q3: 17.90%
Median: 6.59%
PANW: 1.74%
Q1: -9.59%
Min: -50.52%

Strategy (MSTR) vs. Palo Alto Networks (PANW): A comparison of their ROE against the Software & Services industry group benchmark.

Net Margin (TTM)

Both Strategy (MSTR) at 0.00% and Palo Alto Networks (PANW) at 2.67% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

MSTR

Software & Services industry group

0.00%

Max: 41.17%
Q3: 15.28%
Median: 4.63%
MSTR: 0.00%
Q1: -5.42%
Min: -33.17%

PANW

Software & Services industry group

2.67%

Max: 41.17%
Q3: 15.28%
Median: 4.63%
PANW: 2.67%
Q1: -5.42%
Min: -33.17%

Strategy (MSTR) vs. Palo Alto Networks (PANW): A comparison of their net margin against the Software & Services industry group benchmark.

Operating Margin (TTM)

Strategy (MSTR) reports a negative operating margin of -2.07%, usually indicating that operating costs exceeded revenue at the operating-income line. Meanwhile Palo Alto Networks (PANW) reports 5.40%, ranking against industry peers normally.

MSTR

Software & Services industry group

-2.07%

Max: 46.89%
Q3: 17.64%
Median: 8.73%
MSTR: -2.07%
Q1: -2.13%
Min: -30.45%

PANW

Software & Services industry group

5.40%

Max: 46.89%
Q3: 17.64%
Median: 8.73%
PANW: 5.40%
Q1: -2.13%
Min: -30.45%

Strategy (MSTR) vs. Palo Alto Networks (PANW): A comparison of their operating margin against the Software & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Strategy (MSTR) and Palo Alto Networks (PANW)
Metric	MSTR	PANW
ROE (TTM)	-21.59%	1.74%
ROA (TTM)	-4.52%	1.40%
Net Margin (TTM)	0.00%	2.67%
Operating Margin (TTM)	-2.07%	5.40%
Gross Margin (TTM)	67.84%	70.38%

Growth

Revenue Growth

Palo Alto Networks (PANW) at 24.50% is around its peer norm for revenue growth, while Strategy (MSTR) at 2.97% drops into the bottom quartile, signaling weaker demand or pricing momentum.

Strategy (MSTR) vs. Palo Alto Networks (PANW): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Palo Alto Networks (PANW) reports EPS growth of -75.00%, ranked against its industry; Strategy (MSTR) has no EPS growth figure this period.

Strategy (MSTR) vs. Palo Alto Networks (PANW): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Strategy (MSTR) and Palo Alto Networks (PANW)
Metric	MSTR	PANW
Revenue Growth (YoY)	2.97%	24.50%
Revenue Growth (3Y CAGR)	-1.49%	18.54%
EPS Growth (YoY)	--	-75.00%
EPS Growth (3Y CAGR)	--	-14.50%

Financial Strength

Current Ratio (MRQ)

Strategy (MSTR) at 4.04 carries current ratio above its industry’s typical mid-range, while Palo Alto Networks (PANW) at 0.87 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

MSTR

Software & Services industry group

4.04

Max: 5.11
MSTR: 4.04
Q3: 2.77
Median: 1.67
Q1: 1.01
Min: 0.03

PANW

Software & Services industry group

0.87

Max: 5.11
Q3: 2.77
Median: 1.67
Q1: 1.01
PANW: 0.87
Min: 0.03

Strategy (MSTR) vs. Palo Alto Networks (PANW): A comparison of their current ratio against the Software & Services industry group benchmark.

Debt / Equity (MRQ)

Both Strategy (MSTR) at 0.10 and Palo Alto Networks (PANW) at 0.09 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

MSTR

Software & Services industry group

0.10

Max: 2.52
Q3: 1.13
Median: 0.40
MSTR: 0.10
Q1: 0.07
Min: 0.00

PANW

Software & Services industry group

0.09

Max: 2.52
Q3: 1.13
Median: 0.40
PANW: 0.09
Q1: 0.07
Min: 0.00

Strategy (MSTR) vs. Palo Alto Networks (PANW): A comparison of their debt-to-equity ratio against the Software & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Strategy (MSTR) and Palo Alto Networks (PANW)
Metric	MSTR	PANW
Current Ratio (MRQ)	4.04	0.87
Debt / Equity (MRQ)	0.10	0.09
Net Debt / EBITDA	--	-0.32

Dividends

Dividend Yield (TTM)

Neither Strategy (MSTR) nor Palo Alto Networks (PANW) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

MSTR

Software & Services industry group

0.00%

MSTR: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

PANW

Software & Services industry group

0.00%

PANW: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Strategy (MSTR) vs. Palo Alto Networks (PANW): A comparison of their dividend yield against the Software & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Neither Strategy (MSTR) nor Palo Alto Networks (PANW) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

MSTR

Software & Services industry group

0.00%

MSTR: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

PANW

Software & Services industry group

0.00%

PANW: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Strategy (MSTR) vs. Palo Alto Networks (PANW): A comparison of their payout ratio against the Software & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Strategy (MSTR) and Palo Alto Networks (PANW)
Metric	MSTR	PANW
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Palo Alto Networks (PANW) trades at 784.60 times trailing earnings, ranked against its peers, while Strategy (MSTR) has no P/E ratio this period.

MSTR

Software & Services industry group

Max: 112.94
Q3: 60.32
Median: 32.91
Q1: 18.77
Min: 6.69
MSTR: --

PANW

Software & Services industry group

784.60

PANW: 784.60
Max: 112.94
Q3: 60.32
Median: 32.91
Q1: 18.77
Min: 6.69

Strategy (MSTR) vs. Palo Alto Networks (PANW): MSTR does not report P/E ratio, so it has no value marker; PANW is benchmarked against the Software & Services industry group.

P/S Ratio (TTM)

Investors are paying well above the peer range per dollar of sales for both Strategy (MSTR) at 110.23 and Palo Alto Networks (PANW) at 22.37 — each P/S ratio clears its industry’s benchmark range.

MSTR

Software & Services industry group

110.23

MSTR: 110.23
Max: 17.91
Q3: 8.78
Median: 4.25
Q1: 2.23
Min: 0.02

PANW

Software & Services industry group

22.37

PANW: 22.37
Max: 17.91
Q3: 8.78
Median: 4.25
Q1: 2.23
Min: 0.02

Strategy (MSTR) vs. Palo Alto Networks (PANW): A comparison of their P/S ratio against the Software & Services industry group benchmark.

P/B Ratio (MRQ)

Strategy (MSTR) at 0.98 looks cheap against book in the lower P/B ratio quartile, while Palo Alto Networks (PANW) at 9.30 carries a premium in the upper quartile — a clear price-to-book gap.

MSTR

Software & Services industry group

0.98

Max: 16.63
Q3: 8.50
Median: 4.30
Q1: 1.92
MSTR: 0.98
Min: -3.90

PANW

Software & Services industry group

9.30

Max: 16.63
PANW: 9.30
Q3: 8.50
Median: 4.30
Q1: 1.92
Min: -3.90

Strategy (MSTR) vs. Palo Alto Networks (PANW): A comparison of their P/B ratio against the Software & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Strategy (MSTR) and Palo Alto Networks (PANW)
Metric	MSTR	PANW
P/E Ratio (TTM)	--	784.60
P/S Ratio (TTM)	110.23	22.37
P/B Ratio (MRQ)	0.98	9.30
Free Cash Flow Yield (TTM)	-5.94%	1.65%