Palo Alto Networks Becomes First Israeli Company Valued at Trillion Shekels

Palo Alto Networks, a cybersecurity firm co-founded by Israeli entrepreneur Nir Zuk, has achieved a historic milestone by becoming the first company listed on the Tel Aviv Stock Exchange to surpass a market capitalization of one trillion shekels. The company's stock surged over 4% on Thursday, pushing its valuation to this unprecedented level.

This valuation represents approximately one-third of the total market value of all companies traded on the Tel Aviv Stock Exchange, highlighting a significant gap between Palo Alto Networks and other major Israeli firms. For comparison, Teva Pharmaceuticals, the second-largest company by market cap, is valued at around 143 billion shekels, followed by Bank Leumi at approximately 110 billion shekels.

Although Palo Alto Networks is a U.S.-registered company based in California, it maintains a significant research and development center in Tel Aviv and has acquired over ten Israeli startups. The company joined the Tel Aviv Stock Exchange as a dual-listed entity alongside its Nasdaq listing in February 2026, immediately becoming the highest-valued company on the local exchange.

The recent stock surge follows a remarkable year for the company, with its value increasing by over 115% since the beginning of the year. This growth was partly fueled by the acquisition of Israeli cybersecurity firm CyberArk for approximately $25 billion, one of the largest deals in Israeli high-tech history. Palo Alto Networks is renowned for its advanced information security solutions, particularly its next-generation firewall introduced in 2007.

In separate market news, shares of El Al and Israir airlines continued to climb following a dramatic incident involving a Flydubai flight to Israel. El Al's stock rose about 3.5% and Israir's by approximately 2.5%, amid speculation that the event might influence passenger travel preferences.