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Palantir Technologies Inc.

PLTR Technology Software Infrastructure

Palantir Technologies Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.5 billion, up 56.2% from fiscal 2024. In the quarter to June 2026, revenue grew 92.8%, EPS grew 214.3% and free cash flow grew 126.0%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; revenue growth for five consecutive years, operating cash flow growth for three.

195.15 1.00 +0.52%
Market cap
$466.6B
P/E
154×
Fwd P/E
120×
Dividend yield
—
F-score
8/9
Altman Z
180.37
Beneish M
−1.99
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 874.26
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 7 2 3 8 1 1 8 2 2 5 2 5
Insider Ownership 7.91%

Capital & Financial Ratios $m

Market Cap 466,550.00
Revenue 6,155.94
Net Income 3,030.72
Free Cash Flow 3,358.27
Net Debt (9,409.10)
Current Ratio 7.23 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 154.13 (above 35: high)
Fwd P/E 120.00 (above 35: high)
P/S ratio 75.71 (above 10: high)
P/B ratio 47.15 (above 6: high)
Past 5Y EPS Growth —
This Y EPS Growth 112.99% (at or above 15%: strong)
Next Y EPS Growth 43.80% (at or above 15%: strong)
Next Y revenue growth 83.56% (at or above 10%: strong)
Next 5Y EPS Growth 65.90% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 74.2×, against a ten-year median of 28.1×; over the ten years it ranged from 6.0× in 2022 to 121× in 2025.
P/E against its own 10 years 19.08%
10-year low 10-year high
P/S against its own 10 years 84.34%
10-year low 10-year high
P/B against its own 10 years 85.39%
10-year low 10-year high
EV/Sales against its own 10 years 84.47%
10-year low 10-year high
EV/FCF against its own 10 years 62.01%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 3,674 5,230 7,177 9,409
Receivables 365 575 1,042 1,485
Inventory — — — —
Other — — — —
4,139 5,934 8,358 11,100
2023 2024 2025 Q'26
Payables 12 0 8 504
ST’ Debt — — — —
Other 210 265 357 452
746 996 1,176 1,536

Compound Annual Growth %

10y 5y 3y
Sales — 32.58% 32.92%
Cash Flow — 0.00% 112.09%
Earnings — 0.00% 0.00%
Book Value — 37.52% 41.51%

Revenue $m

Mar Jun Sep Dec Year
’26 1,633 1,935 — — —
’25 884 1,004 1,181 1,407 4,475
’24 634 678 726 828 2,866
’23 525 533 558 608 2,225
’22 446 473 478 509 1,906
’21 341 376 392 433 1,542
’20 229 252 289 322 1,093
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 899 1,216 — — —
’25 310 539 508 777 2,134
’24 130 144 420 460 1,154
’23 187 90 133 301 712
’22 35 62 47 79 224
’21 117 23 101 93 334
’20 (287) 61 (52) (18) (297)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 892 1,202 — — —
’25 304 532 501 764 2,101
’24 127 141 416 457 1,141
’23 183 86 132 296 697
’22 20 57 33 74 184
’21 116 22 95 88 321
’20 (290) 58 (54) (23) (309)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.34 0.41 — — —
’25 0.08 0.13 0.18 0.24 0.63
’24 0.04 0.06 0.06 0.03 0.19
’23 0.01 0.01 0.03 0.04 0.09
’22 (0.05) (0.09) (0.06) 0.02 (0.17)
’21 (0.07) (0.07) (0.05) (0.08) (0.27)
’20 (0.09) (0.17) (0.94) (0.08) (1.20)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Price, $
Price, $ Low — — — — 8.90 17.06 5.92 6.09 15.66 63.40 +48.1% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
High — — — — 33.50 45.00 18.84 21.85 84.80 207.52 +44.0% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
People
People Employees — — — 2,391 2,439 2,920 3,838 3,735 3,936 4,429 +10.8% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Revenue/emp, $m — — 0.00 0.31 0.45 0.53 0.50 0.60 0.73 1.01 n/m ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Income, $m
Income, $m Revenue — — 595 743 1,093 1,542 1,906 2,225 2,866 4,475 +33.4% 8,215 12,333 17,850 +58.6%
Gross margin, % — — 72.22 67.36 67.74 77.99 78.56 80.62 80.25 82.37 +10.2 pt
EBT — — (571) (567) (1,179) (488) (361) 237 489 1,657 n/m
EBT margin, % — — (95.89) (76.39) (107.90) (31.68) (18.94) 10.66 17.07 37.03 +132.9 pt
Net income — 0 (580) (580) (1,166) (520) (371) 217 468 1,635 n/m
Depreciation — — 14 12 14 15 23 33 32 26 +9.4%
Per share, $
Per share, $ Revenue — — 1.11 1.29 1.12 0.80 0.92 1.04 1.27 1.89 +7.9%
Earnings — — (1.08) (1.00) (1.19) (0.27) (0.18) 0.10 0.21 0.69 n/m
Cash flow — — (0.07) (0.29) (0.30) 0.17 0.11 0.33 0.51 0.90 n/m
Capex — — (0.01) (0.02) (0.01) (0.01) (0.02) (0.01) (0.01) (0.01) +1.8%
Free cash flow — — (0.09) (0.31) (0.32) 0.17 0.09 0.32 0.51 0.89 n/m
Book value — — 0.00 (3.43) 1.56 1.19 1.28 1.66 2.26 3.16 n/m
Shares, m — — 537 577 978 1,924 2,064 2,147 2,250 2,370 +23.6%
Valuation, ×
Valuation, × P/E — — 0.00 0.00 0.00 0.00 0.00 186.08 378.15 257.61 102.7
P/S — — 8.60 8.60 38.01 22.72 6.92 16.00 59.39 94.11 31.8
P/B — — 6.87 6.87 27.28 15.29 4.99 10.00 33.41 56.25 20.1
EV/Sales — — 6.96 6.96 36.31 21.19 5.64 14.44 57.63 92.55 30.2
EV/FCF — — (14.99) (14.99) (128.58) 101.69 58.53 46.09 144.71 197.19 48.7
Cash, $m
Cash, $m Operating cash flow — — (39) (165) (297) 334 224 712 1,154 2,134 n/m
Capex — — (7) (13) (12) (13) (40) (15) (13) (34) +25.8%
Free cash flow — — (46) (178) (309) 321 184 697 1,141 2,101 n/m
Balance, $m
Balance, $m Working capital — — 688 486 1,654 2,203 2,454 3,393 4,938 7,183 +39.8%
Total debt — — — 396 198 220 204 — — — (19.8%)
Net debt — — (1,127) (735) (1,851) (2,561) (2,634) (3,674) (5,230) (7,177) +30.3%
Shareholders’ equity — — — (1,981) 1,523 2,291 2,642 3,561 5,094 7,488 n/m
Returns, %
Returns, % ROA — — 0.00 (73.79) (54.45) (17.53) (11.14) 5.26 8.51 21.32 +21.3 pt
ROIC — — 0.00 0.00 0.00 0.00 (1,149.86) 0.00 0.00 284.20 +284.2 pt
ROE — — 32.05 31.52 509.24 (27.29) (15.15) 6.76 10.68 25.83 (6.2) pt
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.35 Actual 0.41

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.17 0.21 Beat by 0.04
Q4 FY25 0.23 0.25 Beat by 0.02
Q1 FY26 0.29 0.33 Beat by 0.04
Q2 FY26 0.35 0.41 Beat by 0.06
Q3 FY26 0.42 — Reports 2 November 2026

Charts ten years each

Palantir Technologies Inc. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MSFT Microsoft Corporation $3.96T 29.6× 26.8× +17.75% (above 0%: growing) +31.69% (above 0%: growing) −23.19% (below 0%: shrinking) 67.20% 45.11% Compare
PLTR Palantir Technologies Inc. $466.6B 154× 120× +92.83% (above 0%: growing) +214.29% (above 0%: growing) +126.03% (above 0%: growing) 84.66% 47.12%
ORCL Oracle Corporation $391.9B 20.0× 19.3× +29.61% (above 0%: growing) +51.92% (above 0%: growing) −1,390.61% (below 0%: shrinking) 60.03% 34.78% Compare
PANW Palo Alto Networks, Inc. $283.8B 653× 217× +34.46% (above 0%: growing) n/m +34.26% (above 0%: growing) 67.57% 5.04% Compare
CRWD CrowdStrike $233.6B 6,475× 2,274× +25.83% (above 0%: growing) n/m +32.03% (above 0%: growing) 74.57% (2.26%) Compare
FTNT Fortinet, Inc. $125.8B 59.9× 54.8× +25.64% (above 0%: growing) +45.61% (above 0%: growing) +239.88% (above 0%: growing) 80.24% 33.66% Compare
NET Cloudflare, Inc. $106.0B — (loss-making) — (loss-making) +35.87% (above 0%: growing) n/m +69.42% (above 0%: growing) 71.76% (29.55%) Compare
SNPS Synopsys, Inc. $87.1B 79.7× 111× +42.37% (above 0%: growing) +88.74% (above 0%: growing) +18.01% (above 0%: growing) 72.57% 14.43% Compare
XYZ Block, Inc. $46.6B 134× 46.4× +9.30% (above 0%: growing) −82.95% (below 0%: shrinking) +181.80% (above 0%: growing) 47.84% 6.75% Compare
Median of peers $179.7B 79.7× 54.8× +27.72% +45.61% +33.15% 69.67% 10.59%

All 188 Software Infrastructure stocks →

PLTR metrics, ten years each

Palantir Technologies Inc. (PLTR) key facts

  • Strength: Palantir Technologies Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.5 billion, up 56.2% from fiscal 2024.
  • Strength: Net income was $1.6 billion, or $0.69 per share (basic), a net margin of 36.3%.
  • Palantir Technologies Inc. (PLTR) is a Software Infrastructure company in the Technology sector, listed on Nasdaq.
  • As of October 19, 2026, PLTR traded at $194.20, a market capitalization of $466.6 billion.
  • At that price the stock trades at 154× trailing-twelve-month earnings and 75.7× sales; its P/E is higher than 19% of its own readings over the past ten years.
  • Return on equity was 25.8% and debt-to-equity 0.00.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 180.37 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Financial Analysis (summary)

Updated

Palantir Technologies reported expanding revenue, earnings, operating income and free cash flow through FY2025 and into Q2 FY2026. The company moved from annual net losses in earlier years to positive annual net income beginning in FY2023, while quarterly revenue and earnings continued to rise through the latest reported quarter.

The balance sheet shows negative net debt, substantial cash and short-term investments, and a current ratio above one in the latest quarter. Current market multiples stand above the company’s available five-year median multiples. Share count increased over the longer annual comparison period, while quarterly changes were limited in the latest reported period.

Palantir Technologies Inc. (PLTR) Latest News

20 Oct

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19 Oct

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16 Oct

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stockrow.com/PLTR · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com