P 
Palantir Technologies PLTR · USD
Information Technology · Software · US listing · 🇺🇸 United States
S&P 500Nasdaq-100
169.20
+5.50%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$4.48bn
FY2018FY2025
Net income
$1.63bn
FY2018FY2025
Free cash flow
$2.10bn
FY2018FY2025
Shareholders' equity
$7.39bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.48bn | $2.87bn | $2.23bn | $1.91bn | $1.54bn | $1.09bn | $742.6m | $595.4m |
| Gross profit | $3.69bn | $2.30bn | $1.79bn | $1.50bn | $1.20bn | $740.1m | $500.2m | $430.0m |
| Research and development | $557.7m | $507.9m | $404.6m | $359.7m | $387.5m | $560.7m | $305.6m | $285.5m |
| Operating income | $1.41bn | $310.4m | $120.0m | −$161.2m | −$411.0m | −$1.17bn | −$576.4m | −$623.4m |
| Net income | $1.63bn | $462.2m | $209.8m | −$373.7m | −$520.4m | −$1.17bn | −$579.6m | −$580.0m |
| Diluted earnings per share | 0.63 | 0.18 | 0.09 | -0.17 | -0.26 | -0.66 | -0.64 | -1.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | $8.90bn | $6.34bn | $4.52bn | $3.46bn | $3.25bn | $2.69bn | $1.59bn | $1.43bn |
| Cash and short-term investments | $7.18bn | $5.23bn | $3.67bn | $2.63bn | $2.52bn | $2.01bn | $1.08bn | $1.12bn |
| Total liabilities | $1.41bn | $1.25bn | $961.5m | $818.8m | $956.4m | $1.17bn | $3.57bn | $3.18bn |
| Debt | $45.9m | — | — | — | — | $198.0m | $396.1m | — |
| Shareholders' equity | $7.39bn | $5.00bn | $3.56bn | $2.64bn | $2.29bn | $1.52bn | −$1.98bn | −$1.75bn |
| Shares outstanding | 2,573m | 2,528m | 2,358m | 2,204m | 2,012m | 1,764m | 905m | 544m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | $2.13bn | $1.15bn | $712.2m | $223.7m | $333.9m | −$296.6m | −$165.2m | −$39.0m |
| Capital spending | −$33.9m | −$12.6m | −$15.1m | −$40.0m | −$12.6m | −$12.2m | −$13.1m | −$13.0m |
| Free cash flow | $2.10bn | $1.14bn | $697.1m | $183.7m | $321.2m | −$308.8m | −$178.3m | −$52.0m |
| Dividends paid | — | — | — | — | — | −$498.2m | −$36.8m | −$12.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.94bn | $1.63bn | $1.41bn | $1.18bn | $1.00bn | $883.9m | $827.5m | $725.5m |
| Gross profit | $1.64bn | $1.42bn | $1.19bn | $973.8m | $810.8m | $710.9m | $653.0m | $578.9m |
| Operating income | $912.0m | $754.0m | $575.4m | $393.3m | $269.3m | $176.0m | $11.0m | $113.1m |
| Net income | $1.06bn | $870.5m | $608.7m | $475.6m | $326.7m | $214.0m | $79.0m | $143.5m |
| Diluted earnings per share | 0.41 | 0.34 | 0.24 | 0.18 | 0.13 | 0.08 | 0.03 | 0.06 |
| Cash from operations | $1.22bn | $899.0m | $777.0m | $507.0m | $538.0m | $310.0m | $460.0m | $419.0m |
| Capital spending | −$14.0m | −$7.0m | −$13.0m | −$6.0m | −$7.0m | −$6.0m | −$3.0m | −$3.0m |
| Free cash flow | $1.20bn | $892.0m | $764.0m | $501.0m | $531.0m | $304.0m | $457.0m | $416.0m |
| Total assets | $11.68bn | $10.20bn | $8.90bn | $8.11bn | $7.37bn | $6.74bn | $6.34bn | $5.77bn |
| Cash and short-term investments | $9.41bn | $8.03bn | $7.18bn | $6.44bn | $6.00bn | $5.43bn | $5.23bn | $4.56bn |
| Debt | — | — | $45.9m | $46.3m | $45.5m | $44.4m | $44.0m | $47.6m |
| Shareholders' equity | $9.77bn | $8.45bn | $7.39bn | $6.59bn | $5.93bn | $5.42bn | $5.00bn | $4.50bn |
Financial ratios
Data as of 3 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 82.4% | 80.2% | 80.6% | 78.6% | 78.0% | 67.7% | — | — |
| Operating margin | 31.6% | 10.8% | 5.4% | -8.5% | -31.4% | -107.0% | — | — |
| Net margin | 36.3% | 16.1% | 9.4% | -19.6% | -33.7% | -106.7% | — | — |
| Return on equity | 22.0% | 9.2% | 5.9% | -14.1% | -22.7% | -76.6% | — | — |
| Return on assets | 18.3% | 7.3% | 4.6% | -10.8% | -16.0% | -43.4% | — | — |
| Free cash flow yield | 0.5% | 0.3% | 0.2% | 0.1% | 0.1% | -0.1% | — | — |
| Revenue growth | 56.2% | 28.8% | 16.7% | 23.6% | 41.1% | 47.2% | — | — |
| Earnings growth | 251.6% | 120.3% | -156.1% | -28.2% | -55.4% | 101.2% | — | — |
| Current ratio | 7.11x | 5.96x | 5.55x | 5.17x | 4.34x | 3.74x | — | — |
| Debt to equity | 0.01x | 0.01x | 0.02x | 0.02x | 0.02x | 0.15x | — | — |
| Equity ratio | 83.0% | 78.9% | 78.7% | 76.3% | 70.5% | 56.6% | — | — |
| Interest coverage | — | — | 34.57x | -39.72x | -133.20x | -82.72x | -188.32x | -181.23x |
| R&D as a share of sales | 12.5% | 17.7% | 18.2% | 18.9% | 25.1% | 51.3% | — | — |
| Buybacks as a share of market value | -1.8% | -7.2% | -7.0% | -9.5% | -14.1% | -94.8% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 33.0% | 32.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 81.5% | 80.9% | 79.5% | — |
| Operating margin | 23.5% | 14.7% | 0.7% | — |
| Net margin | 28.4% | 16.8% | 1.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | 281.5 | 413.7 | 192.9 | -37.9 | -70.4 | -35.6 |
| Price to sales | 102.2 | 66.7 | 18.2 | 7.4 | 23.8 | 38.5 |
Market value over time
30 Sept 2020 to 2 Sept 2026, in USD
$8.60bn$435.48bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Return | 160% | 298% | 183% | -65% | -37% | 200% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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