NASDAQ : PLTR
Palantir Technologies Inc. — Financial statements
Technology · Software - Infrastructure · United States
Last price 196.42 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 472.01B
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Financial statements
Palantir Technologies Inc. (PLTR) reported revenue of 6.16B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 6.16B | 4.48B | 2.87B | 2.23B | 1.91B | 1.54B |
| Cost of Revenue | 935.94M | 789.18M | 565.99M | 431.11M | 408.55M | 339.40M |
| Gross Profit | 5.22B | 3.69B | 2.30B | 1.79B | 1.50B | 1.20B |
| Selling, General & Admin | 1.94B | 1.71B | 1.48B | 1.27B | 1.30B | 1.23B |
| Research & Development | 641.24M | 557.68M | 507.88M | 404.62M | 359.68M | 387.49M |
| Operating Expenses | 2.59B | 2.27B | 1.99B | 1.67B | 1.66B | 1.61B |
| Operating Income | 2.63B | 1.41B | 310.40M | 119.97M | -161.20M | -411.05M |
| Interest Expense | -3.64M | |||||
| Interest & Investment Income | 266.38M | 229.18M | 196.79M | 132.57M | 20.31M | 1.61M |
| Other Non Operating Income (Expenses) | 66.23M | 35.40M | 1.28M | -2.29M | 51.97M | -2.62M |
| EBT Excluding Unusual Items | 2.97B | 1.68B | 508.48M | 250.25M | -88.92M | -415.69M |
| Gain (Loss) on Sale of Investments | 104.56M | -21.23M | -19.31M | -13.16M | -272.11M | -72.80M |
| Pretax Income | 3.07B | 1.66B | 489.17M | 237.09M | -361.03M | -488.49M |
| Income Tax Expense | 41.11M | 22.72M | 21.25M | 19.72M | 10.07M | 31.89M |
| Earnings From Continuing Operations | 3.03B | 1.63B | 467.92M | 217.38M | -371.09M | -520.38M |
| Minority Interest in Earnings | -14.03M | -9.61M | -5.73M | -7.55M | -2.61M | |
| Net Income | 3.02B | 1.63B | 462.19M | 209.82M | -373.70M | -520.38M |
| Net Income to Common | 3.02B | 1.63B | 462.19M | 209.82M | -373.70M | -520.38M |
| Shares Outstanding (Basic) | 2.39B | 2.37B | 2.25B | 2.15B | 2.06B | 1.92B |
| Shares Outstanding (Diluted) | 2.57B | 2.57B | 2.45B | 2.30B | 2.06B | 1.92B |
| EPS (Basic) | 1.26 | 0.69 | 0.21 | 0.10 | -0.18 | -0.27 |
| EPS (Diluted) | 1.17 | 0.63 | 0.19 | 0.09 | -0.18 | -0.27 |
| Free Cash Flow | 3.36B | 2.10B | 1.14B | 697.07M | 183.71M | 321.22M |
| Free Cash Flow Per Share | 1.31 | 0.82 | 0.47 | 0.30 | 0.09 | 0.17 |
| Gross Margin | 84.80% | 82.37% | 80.25% | 80.62% | 78.56% | 77.99% |
| Operating Margin | 42.80% | 31.60% | 10.83% | 5.39% | -8.46% | -26.66% |
| Profit Margin | 49.00% | 36.31% | 16.13% | 9.43% | -19.61% | -33.75% |
| Free Cash Flow Margin | 54.55% | 46.94% | 39.83% | 31.33% | 9.64% | 20.83% |
| EBITDA | 2.66B | 1.44B | 341.99M | 153.32M | -138.68M | -396.15M |
| EBITDA Margin | 43.25% | 32.18% | 11.94% | 6.89% | -7.28% | -25.69% |
| D&A For EBITDA | 27.98M | 26.14M | 31.59M | 33.35M | 22.52M | 14.90M |
| EBIT | 2.63B | 1.41B | 310.40M | 119.97M | -161.20M | -411.05M |
| EBIT Margin | 42.80% | 31.60% | 10.83% | 5.39% | -8.46% | -26.66% |
| Effective Tax Rate | 1.34% | 1.37% | 4.35% | 8.32% | ||
| Advertising Expenses | 16.00M | 18.20M | 21.40M | 38.60M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.03B | 1.42B | 2.10B | 831.05M | 2.60B | 2.29B |
| Short-Term Investments | 7.38B | 5.75B | 3.13B | 2.84B | 35.13M | 234.15M |
| Cash & Short-Term Investments | 9.41B | 7.18B | 5.23B | 3.67B | 2.63B | 2.52B |
| Receivables | 1.49B | 1.04B | 575.05M | 364.78M | 258.35M | 190.92M |
| Prepaid Expenses | 195.43M | 136.55M | 121.55M | 99.28M | 149.56M | 110.87M |
| Restricted Cash | 9.74M | 2.52M | 7.70M | 370.00K | 36.63M | |
| Total Current Assets | 11.10B | 8.36B | 5.93B | 4.14B | 3.04B | 2.86B |
| Property, Plant & Equipment | 291.67M | 252.06M | 240.38M | 230.62M | 269.41M | 248.20M |
| Long-Term Investments | 167.00M | 170.00M | 64.90M | 32.60M | ||
| Other Intangible Assets | 25.90M | |||||
| Other Long-Term Assets | 120.38M | 120.15M | 101.32M | 94.68M | 150.25M | 136.00M |
| Total Assets | 11.68B | 8.90B | 6.34B | 4.52B | 3.46B | 3.25B |
| Accounts Payable | 3.10M | 8.06M | 103.00K | 12.12M | 44.79M | 74.91M |
| Accrued Expenses | 144.08M | 355.62M | 427.05M | 175.73M | 131.39M | 133.26M |
| Current Portion of Leases | 45.86M | 43.99M | 54.18M | 45.10M | 39.93M | |
| Current Income Taxes Payable | 104.78M | 47.26M | 41.33M | 22.55M | ||
| Current Unearned Revenue | 579.44M | 408.96M | 259.62M | 246.90M | 183.35M | 227.82M |
| Other Current Liabilities | 704.18M | 357.07M | 265.25M | 209.83M | 141.99M | 161.60M |
| Total Current Liabilities | 1.54B | 1.18B | 996.02M | 746.02M | 587.94M | 660.06M |
| Long-Term Leases | 211.40M | 183.47M | 195.23M | 175.22M | 204.31M | 220.15M |
| Long-Term Unearned Revenue | 33.72M | 46.22M | 39.88M | 28.05M | 9.96M | 40.22M |
| Other Long-Term Liabilities | 12.98M | 7.11M | 15.35M | 12.18M | 16.59M | 36.00M |
| Total Liabilities | 1.79B | 1.41B | 1.25B | 961.46M | 818.80M | 956.42M |
| Common Stock | 2.40M | 2.39M | 2.34M | 2.20M | 2.10M | 2.03M |
| Additional Paid-In Capital | 11.41B | 10.93B | 10.19B | 9.12B | 8.43B | 7.78B |
| Retained Earnings | -1.63B | -3.56B | -5.19B | -5.65B | -5.86B | -5.49B |
| Comprehensive Income & Other | -7.10M | 13.94M | -5.61M | 801.00K | -5.33M | -2.35M |
| Total Common Equity | 9.77B | 7.39B | 5.00B | 3.48B | 2.57B | 2.29B |
| Minority Interest | 110.69M | 100.74M | 91.13M | 85.40M | 77.11M | |
| Shareholders' Equity | 9.88B | 7.49B | 5.09B | 3.56B | 2.64B | 2.29B |
| Total Liabilities & Equity | 11.68B | 8.90B | 6.34B | 4.52B | 3.46B | 3.25B |
| Total Debt | 211.40M | 229.34M | 239.22M | 229.39M | 249.40M | 260.07M |
| Net Cash (Debt) | 9.20B | 6.95B | 4.99B | 3.44B | 2.38B | 2.26B |
| Net Cash Per Share | 3.58 | 2.71 | 2.04 | 1.50 | 1.16 | 1.18 |
| Filing Date Shares Outstanding | 2.40B | 2.39B | 2.35B | 2.21B | 2.10B | 2.03B |
| Total Common Shares Outstanding | 2.40B | 2.39B | 2.34B | 2.20B | 2.10B | 2.03B |
| Working Capital | 9.56B | 7.18B | 4.94B | 3.39B | 2.45B | 2.20B |
| Book Value Per Share | 4.07 | 3.09 | 2.14 | 1.58 | 1.22 | 1.13 |
| Tangible Book Value | 9.77B | 7.39B | 5.00B | 3.45B | 2.57B | 2.29B |
| Tangible Book Value Per Share | 4.07 | 3.09 | 2.14 | 1.57 | 1.22 | 1.13 |
| Machinery | 92.75M | 69.72M | 64.68M | 65.70M | 25.27M | |
| Construction In Progress | 10.00M | 7.63M | 2.10M | 5.51M | 3.13M | |
| Leasehold Improvements | 98.30M | 85.28M | 83.14M | 80.38M | 72.83M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 3.02B | 1.63B | 462.19M | 209.82M | -373.70M | -520.38M |
| Depreciation & Amortization | 27.98M | 26.14M | 31.59M | 33.35M | 22.52M | 14.90M |
| Loss (Gain) From Sale of Investments | -40.56M | 21.23M | 19.31M | 13.16M | 272.11M | 73.31M |
| Stock-Based Compensation | 835.52M | 684.03M | 691.64M | 475.90M | 564.80M | 778.22M |
| Other Operating Activities | -95.26M | -12.00M | 19.24M | -26.30M | -769.00K | 79.90M |
| Change in Accounts Receivable | -720.73M | -450.43M | -211.16M | -106.16M | -72.82M | -35.24M |
| Change in Accounts Payable | 44.55M | 4.66M | 96.79M | 21.06M | -29.86M | 57.77M |
| Change in Unearned Revenue | 374.55M | 238.69M | 76.80M | 143.86M | -61.15M | 24.73M |
| Change in Other Net Operating Assets | -42.45M | -2.88M | -32.53M | -52.53M | -97.39M | -139.36M |
| Operating Cash Flow | 3.40B | 2.13B | 1.15B | 712.18M | 223.74M | 333.85M |
| Capital Expenditures | -42.02M | -33.88M | -12.63M | -15.11M | -40.03M | -12.63M |
| Investment in Securities | -2.31B | -2.75B | -328.02M | -2.75B | -72.18M | -381.41M |
| Other Investing Activities | 69.00M | -1.00M | 51.07M | 66.78M | -3.87M | |
| Investing Cash Flow | -2.29B | -2.78B | -340.65M | -2.71B | -45.43M | -397.91M |
| Long-Term Debt Repaid | -200.00M | |||||
| Net Debt Issued (Repaid) | -200.00M | |||||
| Issuance of Common Stock | 43.66M | 129.11M | 745.40M | 218.24M | 86.09M | 507.45M |
| Repurchase of Common Stock | -156.10M | -156.10M | -282.48M | |||
| Other Financing Activities | 116.35M | 85.00K | 444.00K | 601.00K | -93.00K | -708.00K |
| Financing Cash Flow | 3.92M | -26.91M | 463.36M | 218.84M | 86.00M | 306.75M |
| Foreign Exchange Rate Adjustments | -6.15M | 7.48M | -6.75M | 2.93M | -3.88M | -3.92M |
| Net Cash Flow | 1.11B | -668.51M | 1.27B | -1.78B | 260.42M | 238.77M |
| Free Cash Flow | 3.36B | 2.10B | 1.14B | 697.07M | 183.71M | 321.22M |
| Free Cash Flow Margin | 54.55% | 46.94% | 39.83% | 31.33% | 9.64% | 20.83% |
| Free Cash Flow Per Share | 1.31 | 0.82 | 0.47 | 0.30 | 0.09 | 0.17 |
| Levered Free Cash Flow | 2.16B | 1.26B | 924.91M | 661.58M | 299.77M | 474.38M |
| Unlevered Free Cash Flow | 2.16B | 1.26B | 924.91M | 661.58M | 299.77M | 476.65M |
| Cash Income Tax Paid | 21.69M | 21.69M | 2.90M | 4.13M | ||
| Change in Working Capital | -344.08M | -209.96M | -70.10M | 6.24M | -261.22M | -92.10M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 443.58B | 423.66B | 172.29B | 37.36B | 13.35B | 36.51B |
| Enterprise Value | 434.38B | 417.55B | 168.07B | 34.40B | 11.13B | 34.24B |
| Last Close Price | 184.11 | 177.75 | 75.63 | 17.17 | 6.42 | 18.21 |
| PE Ratio | 157.87 | 260.71 | 372.76 | 178.06 | ||
| Forward PE | 97.12 | 191.54 | 165.78 | 58.80 | 43.47 | 97.64 |
| PS Ratio | 71.73 | 94.66 | 60.12 | 16.79 | 7.01 | 23.68 |
| PB Ratio | 45.26 | 56.58 | 33.82 | 10.49 | 5.05 | 15.94 |
| P/TBV Ratio | 45.17 | 57.35 | 34.44 | 10.83 | 5.21 | 15.94 |
| P/FCF Ratio | 131.48 | 201.68 | 150.97 | 53.60 | 72.69 | 113.65 |
| P/OCF Ratio | 129.85 | 198.48 | 149.31 | 52.46 | 59.69 | 109.35 |
| PEG Ratio | 1.81 | 3.89 | 6.02 | 0.82 | 1.60 | 1.11 |
| EV/Sales Ratio | 70.23 | 93.30 | 58.65 | 15.46 | 5.84 | 22.20 |
| EV/EBITDA Ratio | 162.37 | 289.93 | 491.45 | 224.34 | ||
| EV/EBIT Ratio | 164.10 | 295.30 | 541.46 | 286.72 | ||
| EV/FCF Ratio | 128.74 | 198.78 | 147.27 | 49.34 | 60.59 | 106.58 |
| Debt / Equity Ratio | 0.02 | 0.03 | 0.05 | 0.06 | 0.09 | 0.11 |
| Debt / EBITDA Ratio | 0.08 | 0.15 | 0.61 | 1.11 | ||
| Debt / FCF Ratio | 0.06 | 0.11 | 0.21 | 0.33 | 1.36 | 0.81 |
| Net Debt / Equity Ratio | -0.93 | -0.93 | -0.98 | -0.97 | -0.90 | -0.99 |
| Net Debt / EBITDA Ratio | -3.45 | -4.82 | -14.59 | -22.47 | 17.19 | 5.72 |
| Net Debt / FCF Ratio | -2.74 | -3.31 | -4.37 | -4.94 | -12.98 | -7.05 |
| Asset Turnover | 0.65 | 0.59 | 0.53 | 0.56 | 0.57 | 0.52 |
| Quick Ratio | 7.09 | 6.99 | 5.83 | 5.41 | 4.92 | 4.11 |
| Current Ratio | 7.23 | 7.11 | 5.96 | 5.55 | 5.17 | 4.34 |
| Return on Equity (ROE) | 38.10% | 25.98% | 10.81% | 7.01% | -15.04% | -27.29% |
| Return on Assets (ROA) | 17.29% | 11.60% | 3.57% | 1.88% | -3.00% | -8.65% |
| Return on Invested Capital (ROIC) | 363.80% | 258.12% | -62.44% | |||
| Return on Capital Employed (ROCE) | 26.00% | 18.30% | 5.80% | 3.20% | -5.60% | -15.90% |
| Earnings Yield | 0.63% | 0.38% | 0.27% | 0.56% | -2.80% | -1.43% |
| FCF Yield | 0.76% | 0.50% | 0.66% | 1.87% | 1.38% | 0.88% |
| Buyback Yield / Dilution | -1.79% | -4.67% | -6.65% | -11.34% | -7.29% | -96.42% |