PANW vs. SPGI
PANW (Palo Alto Networks, Inc.) and SPGI (S&P Global Inc.) are both stocks. PANW operates in Software - Infrastructure (Technology), while SPGI operates in Financial Data & Stock Exchanges (Financial Services). Over the past 10 years, PANW returned 32.08%/yr vs 16.05%/yr for SPGI. At a 0.36 correlation, their price movements are largely independent.
Performance
PANW vs. SPGI - Performance Comparison
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Returns By Period
In the year-to-date period, PANW achieves a 89.28% return, which is significantly higher than SPGI's -8.87% return. Over the past 10 years, PANW has outperformed SPGI with an annualized return of 32.08%, while SPGI has yielded a comparatively lower 16.05% annualized return.
PANW
- 1D
- -2.79%
- 1M
- 21.16%
- 6M
- 85.79%
- YTD
- 89.28%
- 1Y
- 78.09%
- 3Y*
- 41.95%
- 5Y*
- 39.80%
- 10Y*
- 32.08%
- ALL TIME*
- 29.66%
SPGI
- 1D
- -0.55%
- 1M
- 15.35%
- 6M
- -12.84%
- YTD
- -8.87%
- 1Y
- -8.85%
- 3Y*
- 4.69%
- 5Y*
- 3.46%
- 10Y*
- 16.05%
- ALL TIME*
- 13.43%
PANW vs. SPGI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PANW Palo Alto Networks, Inc. | 89.28% | 1.23% | 23.41% | 111.32% | -24.81% | 56.66% | 53.68% | 22.78% | 29.95% | 15.91% |
SPGI S&P Global Inc. | -8.87% | 5.71% | 13.94% | 32.79% | -28.38% | 44.68% | 21.40% | 62.27% | 1.37% | 59.32% |
Correlation
The correlation between PANW and SPGI is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2012 | 0.36 |
The correlation between PANW and SPGI shifts across timeframes, from 0.24 (1 year) to 0.38 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
PANW:
$237.62B
SPGI:
$132.71B
PANW:
$1.17
SPGI:
$15.85
PANW:
297.34
SPGI:
28.29
PANW:
0.02
SPGI:
3.70
PANW:
23.63
SPGI:
8.59
PANW:
9.38
SPGI:
4.26
PANW:
$10.61B
SPGI:
$15.73B
PANW:
$7.63B
SPGI:
$8.15B
PANW:
$1.33B
SPGI:
$7.83B
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Return for Risk
PANW vs. SPGI — Risk / Return Rank
PANW
SPGI
PANW vs. SPGI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Palo Alto Networks, Inc. (PANW) and S&P Global Inc. (SPGI). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PANW | SPGI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.19 | ||
| Sortino ratioReturn per unit of downside risk | +2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.97 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | -0.29 | +2.47 |
| Martin ratioReturn relative to average drawdown | 4.95 | -0.51 | +5.46 |
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Drawdowns
PANW vs. SPGI - Drawdown Comparison
The maximum PANW drawdown since its inception was -47.98%, smaller than the maximum SPGI drawdown of -74.67%. Use the drawdown chart below to compare losses from any high point for PANW and SPGI.
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Drawdown Indicators
| PANW | SPGI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.98% | -74.67% | +26.69% |
Max Drawdown (1Y)Largest decline over 1 year | -36.01% | -30.48% | -5.53% |
Max Drawdown (3Y)Largest decline over 3 years | -36.01% | -30.48% | -5.53% |
Max Drawdown (5Y)Largest decline over 5 years | -36.01% | -39.76% | +3.75% |
Max Drawdown (10Y)Largest decline over 10 years | -47.98% | -39.76% | -8.22% |
Current DrawdownCurrent decline from peak | -2.79% | -15.27% | +12.48% |
Average DrawdownAverage peak-to-trough decline | -14.61% | -15.25% | +0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.83% | 17.44% | -1.61% |
Volatility
PANW vs. SPGI - Volatility Comparison
Palo Alto Networks, Inc. (PANW) has a higher volatility of 16.86% compared to S&P Global Inc. (SPGI) at 11.70%. This indicates that PANW's price experiences larger fluctuations and is considered to be riskier than SPGI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PANW | SPGI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.86% | 11.70% | +5.16% |
Volatility (6M)Calculated over the trailing 6-month period | 35.54% | 26.55% | +8.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.49% | 30.16% | +11.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.35% | 25.06% | +17.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.89% | 26.15% | +12.74% |
Dividends
PANW vs. SPGI - Dividend Comparison
PANW has not paid dividends to shareholders, while SPGI's dividend yield for the trailing twelve months is around 5.78%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PANW Palo Alto Networks, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPGI S&P Global Inc. | 5.78% | 0.73% | 0.73% | 0.82% | 0.99% | 0.65% | 0.82% | 0.84% | 1.18% | 0.97% | 1.34% | 1.34% |
Financials
PANW vs. SPGI - Financials Comparison
This section allows you to compare key financial metrics between Palo Alto Networks, Inc. and S&P Global Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
PANW vs. SPGI - Profitability Comparison
PANW - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Palo Alto Networks, Inc. reported a gross profit of 2.03B and revenue of 3.00B. Therefore, the gross margin over that period was 67.6%.
SPGI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, S&P Global Inc. reported a gross profit of 0.00 and revenue of 4.17B. Therefore, the gross margin over that period was 0.0%.
PANW - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Palo Alto Networks, Inc. reported an operating income of -186.00M and revenue of 3.00B, resulting in an operating margin of -6.2%.
SPGI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, S&P Global Inc. reported an operating income of 2.00B and revenue of 4.17B, resulting in an operating margin of 48.0%.
PANW - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Palo Alto Networks, Inc. reported a net income of -177.00M and revenue of 3.00B, resulting in a net margin of -5.9%.
SPGI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, S&P Global Inc. reported a net income of 1.40B and revenue of 4.17B, resulting in a net margin of 33.5%.
Frequently Asked Questions
PANW and SPGI have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PANW has higher volatility (16.86%) compared to SPGI (11.70%). In terms of maximum drawdown, PANW dropped -47.98% vs SPGI's -74.67%.
PANW currently has the higher Sharpe Ratio (1.90 vs -0.29), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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