ESTC vs. PANW

Last updated Apr 1, 2026

Compare and contrast key facts about Elastic N.V. (ESTC) and Palo Alto Networks, Inc. (PANW).

Performance

ESTC vs. PANW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Elastic N.V. (ESTC) and Palo Alto Networks, Inc. (PANW). The values are adjusted to include any dividend payments, if applicable.

ESTC vs. PANW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ESTC Elastic N.V.	-33.74%	-23.86%	-12.09%	118.83%	-58.16%	-15.77%	127.26%	-10.04%	2.11%
PANW Palo Alto Networks, Inc.	-12.96%	1.23%	23.41%	111.32%	-24.81%	56.66%	53.68%	22.78%	-12.68%

Fundamentals

Market Cap ESTC : $5.28B PANW : $114.31B
EPS ESTC : -$0.80 PANW : $1.81
PS Ratio ESTC : 3.15 PANW : 11.50
PB Ratio ESTC : 6.68 PANW : 12.17
Total Revenue (TTM) ESTC : $1.68B PANW : $9.89B
Gross Profit (TTM) ESTC : $1.27B PANW : $7.27B
EBITDA (TTM) ESTC : -$20.70M PANW : $2.04B

Returns By Period

In the year-to-date period, ESTC achieves a -33.74% return, which is significantly lower than PANW's -12.96% return.

ESTC

• 1D: 1.17%
• 1M: -3.99%
• YTD: -33.74%
• 6M: -40.83%
• 1Y: -43.89%
• 3Y*: -4.78%
• 5Y*: -15.28%
• 10Y*: —

PANW

• 1D: 3.87%
• 1M: 7.66%
• YTD: -12.96%
• 6M: -21.27%
• 1Y: -6.05%
• 3Y*: 17.09%
• 5Y*: 24.01%
• 10Y*: 19.56%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

ESTC vs. PANW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ESTC

ESTC Risk / Return Rank: 7
ESTC Sharpe Ratio Rank: 8
ESTC Sortino Ratio Rank: 10
ESTC Omega Ratio Rank: 10
ESTC Calmar Ratio Rank: 6
ESTC Martin Ratio Rank: 1

PANW

PANW Risk / Return Rank: 33
PANW Sharpe Ratio Rank: 34
PANW Sortino Ratio Rank: 31
PANW Omega Ratio Rank: 31
PANW Calmar Ratio Rank: 36
PANW Martin Ratio Rank: 34

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ESTC vs. PANW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Elastic N.V. (ESTC) and Palo Alto Networks, Inc. (PANW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ESTC	PANW	Difference
Sharpe ratio Return per unit of total volatility	-0.86	-0.17	-0.69
Sortino ratio Return per unit of downside risk	-1.10	0.02	-1.12
Omega ratio Gain probability vs. loss probability	0.85	1.00	-0.15
Calmar ratio Return relative to maximum drawdown	-0.93	-0.20	-0.73
Martin ratio Return relative to average drawdown	-2.17	-0.51	-1.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ESTC vs. PANW - Sharpe Ratio Comparison

The current ESTC Sharpe Ratio is -0.86, which is lower than the PANW Sharpe Ratio of -0.17. The chart below compares the historical Sharpe Ratios of ESTC and PANW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ESTC	PANW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.86	-0.17	-0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.26	0.59	-0.86
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	0.60	-0.68

Correlation

The correlation between ESTC and PANW is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ESTC vs. PANW - Dividend Comparison

Neither ESTC nor PANW has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

ESTC vs. PANW - Drawdown Comparison

The maximum ESTC drawdown since its inception was -74.33%, which is greater than PANW's maximum drawdown of -47.98%. Use the drawdown chart below to compare losses from any high point for ESTC and PANW.

Drawdown Indicators

	ESTC	PANW	Difference
Max Drawdown Largest peak-to-trough decline	-74.33%	-47.98%	-26.35%
Max Drawdown (1Y) Largest decline over 1 year	-48.64%	-36.01%	-12.63%
Max Drawdown (5Y) Largest decline over 5 years	-74.33%	-36.01%	-38.32%
Max Drawdown (10Y) Largest decline over 10 years	—	-47.98%	—
Current Drawdown Current decline from peak	-73.24%	-27.58%	-45.66%
Average Drawdown Average peak-to-trough decline	-39.15%	-14.71%	-24.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.98%	14.18%	+6.80%

Volatility

ESTC vs. PANW - Volatility Comparison

Elastic N.V. (ESTC) and Palo Alto Networks, Inc. (PANW) have volatilities of 12.47% and 12.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESTC	PANW	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.47%	12.66%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	39.69%	25.18%	+14.51%
Volatility (1Y) Calculated over the trailing 1-year period	51.45%	36.74%	+14.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.62%	40.61%	+18.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.90%	38.47%	+19.43%

Financials

ESTC vs. PANW - Profitability Comparison

The chart below illustrates the profitability comparison between Elastic N.V. and Palo Alto Networks, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ESTC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Elastic N.V. reported a gross profit of 343.44M and revenue of 449.88M. Therefore, the gross margin over that period was 76.3%.

PANW - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Palo Alto Networks, Inc. reported a gross profit of 1.91B and revenue of 2.59B. Therefore, the gross margin over that period was 73.6%.

ESTC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Elastic N.V. reported an operating income of 611.00K and revenue of 449.88M, resulting in an operating margin of 0.1%.

PANW - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Palo Alto Networks, Inc. reported an operating income of 397.00M and revenue of 2.59B, resulting in an operating margin of 15.3%.

ESTC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Elastic N.V. reported a net income of 7.75M and revenue of 449.88M, resulting in a net margin of 1.7%.

PANW - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Palo Alto Networks, Inc. reported a net income of 432.00M and revenue of 2.59B, resulting in a net margin of 16.7%.