{
  "docId": "019dd923-5eff-723e-9be4-cb5f7a8012a8",
  "docSlug": "6d0a4e8e50254a9a",
  "documentTitle": "2025 Q4FY25 Earnings Call",
  "authorId": "Palo-Alto-Networks",
  "authorName": "Palo Alto Networks",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "strategy_consulting",
  "sourceTypeLabel": "Strategy consulting",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.777,
  "pageNumber": 23,
  "pageCount": 32,
  "prevPage": 22,
  "nextPage": 24,
  "slideType": "financial_analysis",
  "function": "quantify_impact",
  "density": "balanced",
  "nDataPoints": 1,
  "notes": null,
  "elementsJson": [
    "headline_text",
    "big_number",
    "icon_grid"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5eff-723e-9be4-cb5f7a8012a8/23",
  "deckHref": "/decks/019dd923-5eff-723e-9be4-cb5f7a8012a8",
  "deckJsonHref": "/decks/019dd923-5eff-723e-9be4-cb5f7a8012a8.json",
  "deckAnchorHref": "/decks/019dd923-5eff-723e-9be4-cb5f7a8012a8#slide-23",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "FY'28 Adj. Free Cash Flow Margin for combined Palo Alto Networks & CyberArk",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-7daa-7426-9e3e-2357e609e985",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.2,
        "x": 0.28,
        "y": 0.375
      },
      "kind": "list",
      "text": "Continued Operating Margin Expansion; Continued smooth transition to deferred payments; Capex-light business model",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5bc077dd-d346-4924-8357-17594818917a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.16,
        "x": 0.588,
        "y": 0.435
      },
      "kind": "metric",
      "text": "40%+",
      "attrs": null,
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b944610b-a079-42ae-b7c4-6bcfdd44eecb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Free Cash Flow Margin: 40%+",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-7daa-7426-9e3e-264aef341891",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.3,
        "x": 0.52,
        "y": 0.56
      },
      "kind": "paragraph",
      "text": "FY'28 Adj. Free Cash Flow Margin for combined Palo Alto Networks & CyberArk",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d831eea9-6e32-402b-835d-7e163c34a6fb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.92,
        "x": 0.04,
        "y": 0.06
      },
      "kind": "title",
      "text": "We Are Targeting 40%+ Free Cash Flow Margin for the Combined Company in FY'28",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5f7b58f7-ce61-47ae-89bd-219aadd9a561",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Big Idea Formula",
      "slug": "big-idea-formula",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "23edf8a9-9041-4dcc-9a2e-1ba535abbf90",
      "evidence": "The slide presents a clear and concise formula for achieving 40%+ Free Cash Flow Margin, which aligns with the big idea formula.",
      "confidence": 0.6
    }
  ],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}