<p>在这个数字依赖的世界中，投资网络安全股票是明智的选择。而现在，随着人工智能（AI）的出现，抵御网络攻击的重要性进一步增强。</p>
<p>这就是为什么一些预测认为网络安全行业将从 2024 年的 1940 亿美元增长到 2032 年的 5630 亿美元，生成式 AI 将为该行业的公司提供助力。老牌公司 <strong>Palo Alto Networks</strong>（PANW 1.38%）已经看到 AI 为其业务带来了顺风。</p>
<p>尽管如此，该公司的股票距离 7 月底达到的 52 周高点 210.39 美元仍有一段距离。这是否创造了以折扣价购买股票的机会？让我们深入了解 Palo Alto Networks，看看这家网络安全巨头是否值得投资。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzAwODEvY3liZXJzZWN1cml0eV9kaWdpdGFsX2xvY2tfaW5fY3liZXJzcGFjZS1nZXR0eWltYWdlcy0xNDg1ODIyNDA0LTEyMDF4NzEzLTIwZWY4N2YucG5nJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzAwODEvY3liZXJzZWN1cml0eV9kaWdpdGFsX2xvY2tfaW5fY3liZXJzcGFjZS1nZXR0eWltYWdlcy0xNDg1ODIyNDA0LTEyMDF4NzEzLTIwZWY4N2YucG5nJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>Palo Alto Networks 的战略举措</h2>
<p>在 Palo Alto Networks 于 7 月 30 日宣布以 250 亿美元收购 CyberArk 后，其股价下跌。考虑到这是 Palo Alto Networks 首席执行官 Nikesh Arora 自 2018 年接任以来最大的一笔收购，其股价的下跌是可以理解的。</p>
<p>CyberArk 专注于身份安全，确保只有授权用户才能访问公司的系统和数据。收购 CyberArk 是一个明智的举措。身份安全是 Palo Alto Networks 平台中缺乏的一个领域，现在这个空白得到了填补。</p>
<p>在 AI 时代，这一能力至关重要。人工智能现在代表企业执行任务，因此网络安全软件必须能够识别哪些 AI 是被允许的，哪些可能表明正在发生攻击。CyberArk 将使 Palo Alto Networks 能够完成这一任务。</p>
<p>此次收购还加强了公司的 “平台化” 战略，这是其长期业务增长的关键组成部分。在 Arora 的领导之前，Palo Alto Networks 销售的是各类独立的安全产品，尤其以其防火墙而闻名。</p>
<p>现在，该公司正在追求平台化战略，其产品作为完整的网络安全套餐进行销售。这消除了客户需要从多个供应商购买的需求，使 Palo Alto Networks 成为一站式解决方案。</p>
<h2>Palo Alto Networks 的崛起</h2>
<p>平台化方法正在奏效。Palo Alto Networks 在其 2025 财年（截至 7 月 31 日）报告了强劲的 15% 的年增长率，收入达 92 亿美元。</p>
<p>不仅收入增长，网络安全巨头的 2025 财年营业收入也从前一年的 6.839 亿美元增长至 12 亿美元。这表明 Palo Alto Networks 在收入增长的同时，管理成本的能力也很强。</p>
<p>另一个强项是公司的资产负债表。它在财务第四季度结束时的总资产为 236 亿美元，而总负债为 158 亿美元。但值得注意的是，这 158 亿美元的负债中有 128 亿美元是递延收入。这是客户的预付款，一旦服务交付后将被确认收入。</p>
<p>此外，这家网络安全巨头预计在 2026 财年将实现另一个优秀的销售增长。Palo Alto Networks 预计新财年的收入约为 105 亿美元，比 2025 年的 92 亿美元增长 14%。</p>
<h2>对 Palo Alto Networks 股票的决策</h2>
<p>尽管网络安全领域竞争激烈，Palo Alto Networks 正在采取措施加强其业务，而其平台化战略也在销售增长中取得成效。但在决定购买股票之前，另一个需要考虑的因素是股票价格估值。</p>
<p>为了评估这一点，以下是 Palo Alto Networks 与主要竞争对手 <strong>CrowdStrike</strong> 和 <strong>Zscaler</strong> 的市销率（P/S）比较。该指标衡量投资者愿意为过去 12 个月产生的每一美元收入支付多少，是比较不盈利公司的有用工具，CrowdStrike 和 Zscaler 正是如此。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/c55a300c673b20d93022540dcaaf70db.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/c55a300c673b20d93022540dcaaf70db.png"/></p>
<p>数据来源：YCharts。</p>
<p>图表显示，Palo Alto Networks 在三者中拥有最低的市销率；截至 8 月 19 日，其市销率低于过去一年的水平。这表明 Palo Alto Networks 的股票估值具有吸引力。</p>
<p>在其众多优势中，Palo Alto Networks 在 8 月 14 日宣布其网络安全系统正在准备保护免受量子计算机攻击。尽管量子计算机仍处于开发阶段，但它们有潜力轻易突破今天的数字保护。这一公告展示了公司在应对新兴威胁方面的决心。</p>
<p>凭借强劲的销售、健康的财务状况以及一个能够跟上不断变化的技术环境的成功平台，Palo Alto Networks 具备了值得投资的公司特征。再加上具有吸引力的股票价格估值，现在似乎是购买其股票的好时机。</p>

派拓网络

<p>Palo Alto Networks 被视为网络安全领域的强劲投资机会，预计由于人工智能的进步将显著增长。该公司最近宣布以 250 亿美元收购 CyberArk，增强其身份安全能力。预计到 2025 财年，收入将增长 15% 达到 92 亿美元，并预计 2026 财年将达到 105 亿美元，Palo Alto 的平台化战略正在证明其有效性。其当前的市销率在竞争对手中最低，表明估值具有吸引力。总体而言，强劲的财务状况和战略举措表明，现在是购买其股票的好时机</p>

<p>Investing in cybersecurity stocks makes sense in this digitally dependent world. And now, the importance of protection against cyberattacks is amplified further by the emergence of artificial intelligence (AI).</p>
<div class="lb-trans"><p>在这个数字依赖的世界中，投资网络安全股票是明智的选择。而现在，随着人工智能（AI）的出现，抵御网络攻击的重要性进一步增强。</p>
</div><p>That's why some forecasts predict the cybersecurity industry will grow from $194 billion in 2024 to $563 billion by 2032 with generative AI giving companies in the sector a boost. Veteran player <strong>Palo Alto Networks</strong>(PANW 1.38%) is already seeing AI serve as a tailwind to its business.</p>
<div class="lb-trans"><p>这就是为什么一些预测认为网络安全行业将从 2024 年的 1940 亿美元增长到 2032 年的 5630 亿美元，生成式 AI 将为该行业的公司提供助力。老牌公司 <strong>Palo Alto Networks</strong>（PANW 1.38%）已经看到 AI 为其业务带来了顺风。</p>
</div><p>Even so, the company's stock is well off its 52-week high of $210.39 reached at the end of July. Does this create an opportunity to scoop up shares at a discount? Let's dive into Palo Alto Networks to see if the cybersecurity titan is a worthwhile investment.</p>
<div class="lb-trans"><p>尽管如此，该公司的股票距离 7 月底达到的 52 周高点 210.39 美元仍有一段距离。这是否创造了以折扣价购买股票的机会？让我们深入了解 Palo Alto Networks，看看这家网络安全巨头是否值得投资。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzAwODEvY3liZXJzZWN1cml0eV9kaWdpdGFsX2xvY2tfaW5fY3liZXJzcGFjZS1nZXR0eWltYWdlcy0xNDg1ODIyNDA0LTEyMDF4NzEzLTIwZWY4N2YucG5nJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F830081%2Fcybersecurity_digital_lock_in_cyberspace-gettyimages-1485822404-1201x713-20ef87f.png&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Palo Alto Networks' strategic initiatives</h2>
<div class="lb-trans"><h2>Palo Alto Networks 的战略举措</h2>
</div><p>Palo Alto's share price dropped after the company announced on July 30 the impending acquisition of CyberArk for $25 billion. Its stock's decline was understandable given this is the largest acquisition under Palo Alto Networks CEO Nikesh Arora since he took over the top spot in 2018.</p>
<div class="lb-trans"><p>在 Palo Alto Networks 于 7 月 30 日宣布以 250 亿美元收购 CyberArk 后，其股价下跌。考虑到这是 Palo Alto Networks 首席执行官 Nikesh Arora 自 2018 年接任以来最大的一笔收购，其股价的下跌是可以理解的。</p>
</div><p>CyberArk focuses on identity security, which ensures only authorized users have access to a company's systems and data. Acquiring CyberArk was a smart move. Identity security is an area lacking in the Palo Alto Networks platform, and now that hole is filled.</p>
<div class="lb-trans"><p>CyberArk 专注于身份安全，确保只有授权用户才能访问公司的系统和数据。收购 CyberArk 是一个明智的举措。身份安全是 Palo Alto Networks 平台中缺乏的一个领域，现在这个空白得到了填补。</p>
</div><p>The capability is important in the AI era. Artificial intelligence now executes tasks on behalf of a business, so cybersecurity software must be able to identify which AI are allowed and which might indicate an attack is taking place. CyberArk will enable Palo Alto Networks to do that task.</p>
<div class="lb-trans"><p>在 AI 时代，这一能力至关重要。人工智能现在代表企业执行任务，因此网络安全软件必须能够识别哪些 AI 是被允许的，哪些可能表明正在发生攻击。CyberArk 将使 Palo Alto Networks 能够完成这一任务。</p>
</div><p>The acquisition also strengthens the company's &#34;platformization&#34; strategy, a key component of its long-term business growth. Before Arora's leadership, Palo Alto Networks sold disparate security products and was known particularly for its firewalls.</p>
<div class="lb-trans"><p>此次收购还加强了公司的 “平台化” 战略，这是其长期业务增长的关键组成部分。在 Arora 的领导之前，Palo Alto Networks 销售的是各类独立的安全产品，尤其以其防火墙而闻名。</p>
</div><p>Now, the company is pursuing a platform play where its offerings are bought as a complete cybersecurity package. This does away with the need for customers to buy from various vendors, making Palo Alto Networks a one-stop solution.</p>
<div class="lb-trans"><p>现在，该公司正在追求平台化战略，其产品作为完整的网络安全套餐进行销售。这消除了客户需要从多个供应商购买的需求，使 Palo Alto Networks 成为一站式解决方案。</p>
</div><h2>Palo Alto Networks' rising fortunes</h2>
<div class="lb-trans"><h2>Palo Alto Networks 的崛起</h2>
</div><p>The platformization approach is working. Palo Alto Networks reported strong 15% year-over-year revenue growth to $9.2 billion in its 2025 fiscal year, ended July 31.</p>
<div class="lb-trans"><p>平台化方法正在奏效。Palo Alto Networks 在其 2025 财年（截至 7 月 31 日）报告了强劲的 15% 的年增长率，收入达 92 亿美元。</p>
</div><p>Not only did revenue rise, the cybersecurity giant's fiscal 2025 operating income grew to $1.2 billion from $683.9 million in the prior year. This demonstrates that Palo Alto Networks is managing its costs well as it grows revenue.</p>
<div class="lb-trans"><p>不仅收入增长，网络安全巨头的 2025 财年营业收入也从前一年的 6.839 亿美元增长至 12 亿美元。这表明 Palo Alto Networks 在收入增长的同时，管理成本的能力也很强。</p>
</div><p>Another area of strength is the company's balance sheet. It exited the fiscal fourth quarter with total assets of $23.6 billion compared to total liabilities of $15.8 billion. But it's worth noting that $12.8 billion of those Q4 liabilities represented deferred revenue. This is up-front payments from customers that will be recognized as income once services are delivered.</p>
<div class="lb-trans"><p>另一个强项是公司的资产负债表。它在财务第四季度结束时的总资产为 236 亿美元，而总负债为 158 亿美元。但值得注意的是，这 158 亿美元的负债中有 128 亿美元是递延收入。这是客户的预付款，一旦服务交付后将被确认收入。</p>
</div><p>In addition, the cybersecurity giant expects another year of excellent sales growth in fiscal 2026. Palo Alto Networks is forecasting around $10.5 billion in revenue for the new fiscal year, which would be a 14% increase over 2025's $9.2 billion.</p>
<div class="lb-trans"><p>此外，这家网络安全巨头预计在 2026 财年将实现另一个优秀的销售增长。Palo Alto Networks 预计新财年的收入约为 105 亿美元，比 2025 年的 92 亿美元增长 14%。</p>
</div><h2>Making a decision on Palo Alto Networks stock</h2>
<div class="lb-trans"><h2>对 Palo Alto Networks 股票的决策</h2>
</div><p>Despite a crowded field of competitors in the cybersecurity sector, Palo Alto Networks is making moves that strengthen its business, while its platformization strategy is paying off with sales growth. But before deciding to purchase shares, another factor to consider is share-price valuation.</p>
<div class="lb-trans"><p>尽管网络安全领域竞争激烈，Palo Alto Networks 正在采取措施加强其业务，而其平台化战略也在销售增长中取得成效。但在决定购买股票之前，另一个需要考虑的因素是股票价格估值。</p>
</div><p>To assess this, here's a look at the price-to-sales (P/S) ratio for Palo Alto Networks in comparison to major competitors <strong>CrowdStrike</strong> and <strong>Zscaler</strong>. The metric measures how much investors are willing to pay for every dollar of revenue generated over the trailing 12 months and is useful for comparing companies that are not profitable, as is the case for CrowdStrike and Zscaler.</p>
<div class="lb-trans"><p>为了评估这一点，以下是 Palo Alto Networks 与主要竞争对手 <strong>CrowdStrike</strong> 和 <strong>Zscaler</strong> 的市销率（P/S）比较。该指标衡量投资者愿意为过去 12 个月产生的每一美元收入支付多少，是比较不盈利公司的有用工具，CrowdStrike 和 Zscaler 正是如此。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/c55a300c673b20d93022540dcaaf70db.png" alt="" original-src="https://media.ycharts.com/charts/c55a300c673b20d93022540dcaaf70db.png"/></p>
<p>Data by YCharts.</p>
<div class="lb-trans"><p>数据来源：YCharts。</p>
</div><p>The chart shows that Palo Alto Networks possesses the lowest P/S multiple across the trio; as of Aug. 19, it's lower than it's been over the past year. This indicates Palo Alto Networks stock is attractively valued.</p>
<div class="lb-trans"><p>图表显示，Palo Alto Networks 在三者中拥有最低的市销率；截至 8 月 19 日，其市销率低于过去一年的水平。这表明 Palo Alto Networks 的股票估值具有吸引力。</p>
</div><p>Contributing to its many strengths, on Aug. 14, Palo Alto Networks announced that its cybersecurity systems are preparing to protect against attacks from quantum computers. While quantum machines are still in the developmental stages, they have the potential to easily slice through today's digital protections. The announcement illustrates the company's drive to stay ahead of emerging threats.</p>
<div class="lb-trans"><p>在其众多优势中，Palo Alto Networks 在 8 月 14 日宣布其网络安全系统正在准备保护免受量子计算机攻击。尽管量子计算机仍处于开发阶段，但它们有潜力轻易突破今天的数字保护。这一公告展示了公司在应对新兴威胁方面的决心。</p>
</div><p>With strong sales, healthy financials, and a successful platform that continues to keep pace with an ever-changing tech landscape, Palo Alto Networks possesses the characteristics of a company worth investing in. Add to this a compelling share-price valuation, and now looks like a good time to buy its stock.</p>
<div class="lb-trans"><p>凭借强劲的销售、健康的财务状况以及一个能够跟上不断变化的技术环境的成功平台，Palo Alto Networks 具备了值得投资的公司特征。再加上具有吸引力的股票价格估值，现在似乎是购买其股票的好时机。</p>
</div>

现在是购买派拓网络股票的合适时机吗？