The latest data point for PANW shows a ROS of 21.2% in Q2'26, representing a notable increase from the previous quarter's 16.7% in Q1'26. From Q4'23 to Q2'26, the ROS exhibited significant volatility with a general upward trajectory, starting at 16.5% and reaching a peak of 23.3% in Q4'25 before settling at 21.2%. The most pronounced dip occurred in Q2'24 at 7.0%, followed by a strong recovery through subsequent quarters, with Q4'25 marking the highest point in the observed period.