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 28.39%/yr vs 15.58%/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 44.59% return, which is significantly higher than SPGI's -19.82% return. Over the past 10 years, PANW has outperformed SPGI with an annualized return of 28.39%, while SPGI has yielded a comparatively lower 15.58% annualized return.
PANW
- 1D
- -2.10%
- 1M
- 28.12%
- YTD
- 44.59%
- 6M
- 36.33%
- 1Y
- 33.43%
- 3Y*
- 34.26%
- 5Y*
- 35.30%
- 10Y*
- 28.39%
SPGI
- 1D
- -1.73%
- 1M
- -0.49%
- YTD
- -19.82%
- 6M
- -14.85%
- 1Y
- -19.02%
- 3Y*
- 3.63%
- 5Y*
- 2.49%
- 10Y*
- 15.58%
PANW vs. SPGI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PANW Palo Alto Networks, Inc. | 44.59% | 1.23% | 23.41% | 111.32% | -24.81% | 56.66% | 53.68% | 22.78% | 29.95% | 15.91% |
SPGI S&P Global Inc. | -19.82% | 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 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2012 | 0.36 |
The correlation between PANW and SPGI shifts across timeframes, from 0.27 (1 year) to 0.39 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
PANW:
$198.15B
SPGI:
$124.13B
PANW:
$1.17
SPGI:
$15.79
PANW:
227.13
SPGI:
26.42
PANW:
0.02
SPGI:
3.45
PANW:
18.05
SPGI:
8.02
PANW:
7.16
SPGI:
3.97
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.
| PANW | SPGI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.57 | ||
| Sortino ratioReturn per unit of downside risk | +2.12 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.89 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | -0.63 | +1.56 |
| Martin ratioReturn relative to average drawdown | 2.12 | -1.21 | +3.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PANW | SPGI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.87 | -0.70 | +1.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | 0.10 | +0.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.74 | 0.60 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.45 | +0.26 |
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 | -11.37% | -25.45% | +14.08% |
Average DrawdownAverage peak-to-trough decline | -14.69% | -15.22% | +0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.82% | 15.77% | +0.05% |
Volatility
PANW vs. SPGI - Volatility Comparison
Palo Alto Networks, Inc. (PANW) has a higher volatility of 17.10% compared to S&P Global Inc. (SPGI) at 8.15%. 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 | 17.10% | 8.15% | +8.95% |
Volatility (6M)Calculated over the trailing 6-month period | 31.83% | 23.85% | +7.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.54% | 27.42% | +11.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.65% | 24.47% | +17.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.59% | 26.03% | +12.56% |
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 0.93%.
| 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. | 0.93% | 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 Jun 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 Jun 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 Jun 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 Jun 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 Jun 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 Jun 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 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PANW has higher volatility (17.10%) compared to SPGI (8.15%). In terms of maximum drawdown, PANW dropped -47.98% vs SPGI's -74.67%.
PANW currently has the higher Sharpe Ratio (0.87 vs -0.70), 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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