— Know what they know.
/
Not Investment Advice

PLTR

NASDAQ · USD
Palantir Technologies Inc.
Technology · Software - Infrastructure
CEO Alexander C. Karp Employees 4,429 R&D / revenue 12.5%
Last price
$186.03−7.22%last session
Market cap
$428.0B
P/E (TTM)
147.6x
From 52w high
−12.6%
From 52w low
+74.9%
1-year return
+4.4%
RSI 14 · vs SMA200
46.3 · +21.9%
IS score
86.1/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

PLTR   SPY   XLK (sector ETF) · weekly closes
6080100120140Jan 26Apr 26Jul 26Oct 26XLK 129SPY 116PLTR 104

Score DNA

Each bar is a 0-100 score within the scored universe
100
Profitability
80
Growth
31
Value
96
Momentum
100
Risk (safety)
95
Quality
93
Balance sheet
64
Earnings quality

Flags

Strengths
✓ Piotroski 8+✓ Net cash✓ Congress buying
Warnings
▲ Beneish M above -1.78▲ Share count rising
Observations
Moat model: Wide, Network EffectsPiotroski 8 / 9Altman Z 102.5Beta 1.623 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
87 open-market sales, $260.1M
Form 144 notices (12m): 38, $913.9M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
5
Last disclosed purchase 2026-07-17
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−143
218 new holders, 320 closed
2,852 filers hold 61.2% · 1,265 added, 1,109 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+326
1,720 funds adding shares
1,394 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
55.1%
20-day avg 58.4%, 50-day avg 58.7%
Latest 3.3 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$4.5B
Revenue growth YoY+56.2%
Gross margin82.4%
Operating income$1.4B
Operating margin31.6%
Net income$1.6B
Net margin36.3%
EPS (diluted)$0.63
Cash flow
Operating cash flow$2.1B
Capital expenditure$33.9M
Free cash flow$2.1B
FCF conversion (FCF / OCF)98.4%
Stock-based compensation$684.0M
FCF less SBC$1.4B
Buybacks$75.0M
Dividends$0
Balance sheet & returns
Cash & short-term investments$7.2B
Total debt$183.5M
Net cash$7.0B
Shareholders' equity$7.5B
Goodwill & intangibles$0
Debt / equity0.02
ROE (TTM)37.5%
ROIC (TTM)25.6%
Operating margin by fiscal year
-26.7%FY2021-8.5%FY20225.4%FY202310.8%FY202431.6%FY2025
Revenue $1.5B (FY2021) to $4.5B (FY2025), a 30.5% CAGR.

Valuation

P/E (TTM)147.6x
EV / EBITDA137.5x
Price / sales69.53x
Price / FCF127.4x
FCF yield0.78%
Buyback yield0.02%
SBC / revenue13.6%
Price / book45.62x
Forward P/E FY2026116.5x
Forward P/E FY202781.0x
Forward P/E FY202854.3x
Forward multiples divide today's price by Street EPS estimates. Street mean target $204.33 across 15 analysts last quarter is theirs, not ours.

PLTR vs industry median

296 companies in Software - Infrastructure
Gross margin 84.8% 65.7% Operating margin 42.8% -1.8% Net margin 49.0% -5.3% ROIC 25.6% 2.0%
PLTR (TTM)Industry median Asset turnover 0.53 vs industry 0.50 · financial leverage 1.19

Earnings delivery

Next report 2026-11-02 · consensus EPS $0.41
100%
beat rate, 12 of 12 quarters
+13.8%
median EPS surprise
12
longest beat streak
+17+6+3+12+10+27+1+16+25+9+19+19
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-02 to 2026-08-03. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
PLTR Palantir Technologies Inc. $428.0B147.6x37.5%49.0%+56.2% +4.4%
ORCL Oracle Corporation $387.7B19.8x41.6%24.6%+21.6% −58.5%
PANW Palo Alto Networks, Inc. $279.8B743.5x1.7%-8.3%+24.5% +66.4%
CRWD CrowdStrike Holdings, Inc. $232.8B6,459.9x1.3%0.4%+24.3% +88.6%
FTNT Fortinet, Inc. $124.1B59.1x117.4%29.6%+18.8% +103.4%
NET Cloudflare, Inc. $105.4Bn/m-14.4%-24.4%+33.5% —
SNPS Synopsys, Inc. $87.1B78.9x3.7%22.0%+46.4% —
SQ Block, Inc. $51.7Bn/m-4.3%1.3%+5.1% —
12-month window: SPY +15.9%, sector ETF XLK +29.0%. Past returns describe history only.

Recent 8-K filings

2026-08-03Earnings Release; Regulation FD; Exhibits
2026-06-09Shareholder Vote
2026-05-04Earnings Release; Regulation FD; Exhibits
2026-02-02Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits
2025-11-03Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits
2025-08-04Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits

Context

Shares outstanding2,300,710,000
Free float96.0%
Institutional ownership61.2%
Beta1.62
Dividend yield0.00%
Last dividendNone on file
50 / 200-day average$181.97 / $152.62
Mega-cap Technology median P/E33.1x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Wide).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where PLTR sits among 82 scored companies in Software - Infrastructure (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasurePLTRIndustry medianIndustry percentileSector median
P/E (TTM) 141.9x 30.5x
89th		 32.0x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 69.5x 3.5x
99th		 3.9x
Price / book 43.8x 4.9x
94th		 4.4x
Price / tangible book 30.7x 12.4x
78th		 8.8x
Price / free cash flow 127.4x 19.2x
94th		 20.3x
Price / operating cash flow 125.9x 13.8x
97th		 17.9x
Enterprise value $418.8B $5.3B
98th		 $5.5B
EV / sales 68.0x 4.0x
99th		 4.1x
EV / EBITDA 139.0x 20.0x
93rd		 18.9x
EV / EBIT 140.3x 25.5x
90th		 26.7x
EV / free cash flow 124.7x 20.5x
94th		 21.9x
Earnings yield 0.7% 2.3%
31st		 2.0%
FCF yield 0.8% 4.6%
16th		 3.3%
Operating cash flow yield 0.8% 7.1%
6th		 4.4%
Graham number (per share) $10.02 $13.16
42nd		 $28.08

Profitability (TTM)

MeasurePLTRIndustry medianIndustry percentileSector median
Gross margin 84.8% 70.2%
96th		 55.7%
EBITDA margin 48.9% 13.7%
91st		 13.7%
Operating margin 42.8% 8.9%
98th		 8.2%
EBIT margin 48.5% 9.9%
98th		 8.6%
Net margin 49.0% 9.3%
98th		 5.7%
NOPAT margin 42.2% 7.5%
98th		 7.0%
FCF margin 54.6% 18.4%
99th		 15.0%
Operating cash flow margin 55.2% 24.1%
93rd		 18.4%
R&D / revenue 10.4% 16.6%
38th		 12.9%
SG&A / revenue 31.6% 36.1%
43rd		 25.6%
Stock comp / revenue 13.6% 6.6%
80th		 4.4%
Effective tax rate 1.4% 21.0%
19th		 21.0%

Returns on capital

MeasurePLTRIndustry medianIndustry percentileSector median
ROE (on average equity) 38.4% 13.4%
84th		 9.4%
ROA 31.7% 4.7%
98th		 4.1%
ROIC 450.5% 11.3%
100th		 9.0%
ROCE 29.4% 8.1%
94th		 8.6%
Return on tangible assets 31.3% 6.4%
96th		 5.9%
Cash ROIC (OCF / invested capital) 589.8% 30.3%
100th		 20.7%
Gross profitability (GP / assets) 44.7% 32.4%
73rd		 30.0%
ROIC, 3-yr average —
ROIC, 5-yr average 85.5% 8.3%
92nd		 7.9%
ROE, 5-yr average 5.8% -2.1%
60th		 6.9%
Incremental ROIC 48.3% 29.1%
62nd		 15.3%

Growth

MeasurePLTRIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 78.9% 14.3%
95th		 14.3%
Revenue growth (QoQ) 18.6% 5.9%
88th		 6.6%
Revenue CAGR, 3 yr 44.4% 12.0%
100th		 9.6%
Revenue CAGR, 5 yr 35.9% 14.2%
81st		 11.5%
Gross profit CAGR, 3 yr 47.7% 12.7%
100th		 10.9%
Operating income CAGR, 3 yr —
Net income growth (TTM YoY) 295.2% 16.7%
85th		 21.6%
Net income CAGR, 3 yr —
EPS growth (TTM YoY) 294.2% 21.5%
83rd		 22.3%
EPS CAGR, 3 yr —
EPS CAGR, 5 yr —
FCF growth (TTM YoY) 96.6% 17.2%
75th		 24.6%
FCF CAGR, 3 yr 107.6% 21.6%
92nd		 19.3%
Operating cash flow CAGR, 3 yr 103.5% 22.3%
93rd		 17.9%
Book value CAGR, 3 yr 43.1% 7.1%
88th		 6.8%
Dividend CAGR, 3 yr —
Sustainable growth rate 38.4% 15.9%
89th		 14.2%

Margin history & stability

MeasurePLTRIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 82.1% 70.5%
91st		 53.2%
Operating margin, 3-yr average 23.7% 5.3%
84th		 6.6%
Net margin, 3-yr average 29.2% 3.4%
95th		 5.2%
FCF margin, 3-yr average 44.1% 14.7%
97th		 12.7%
Revenue stability (0-1) 0.79 0.96
19th		 0.87
Earnings stability (0-1) 0.88 0.57
79th		 0.45
Margin stability (0-1) 0.94 0.96
38th		 0.95

Liquidity (latest quarter)

MeasurePLTRIndustry medianIndustry percentileSector median
Cash & short-term investments $9.4B $689.5M
96th		 $494.1M
Net cash (− = net debt) $9.2B $140.9M
100th		 $49.8M
Working capital $9.6B $260.0M
98th		 $391.0M
Current ratio 7.23 1.42
95th		 1.92
Quick ratio 7.23 1.38
95th		 1.67
Cash ratio (cash + ST investments / current liabilities) 6.13 0.94
94th		 0.95
Defensive interval (days) 1,538 days 494 days
85th		 521 days

Leverage & solvency (latest quarter)

MeasurePLTRIndustry medianIndustry percentileSector median
Total debt $211.4M $511.2M
37th		 $349.3M
Debt / equity 0.02 0.39
12th		 0.29
Net debt / equity −0.94 −0.33
13th		 −0.13
Debt / assets 1.8% 27.1%
12th		 16.9%
Debt / capital 2.1% 29.8%
11th		 22.3%
Debt / EBITDA 0.07 2.44
3rd		 1.78
Net debt / EBITDA −3.05 −0.49
30th		 −0.18
Interest coverage (EBIT / interest) —
Cash interest coverage —
Debt payback (years of OCF) 0.1 yrs 2.2 yrs
8th		 1.6 yrs
Liabilities / assets 15.4% 63.9%
4th		 48.7%
IS credit model rating AA+ — —
Implied credit spread (bps) 65 225
6th		 175

Efficiency

MeasurePLTRIndustry medianIndustry percentileSector median
Asset turnover 0.65 0.58
60th		 0.62
Fixed asset turnover 21.11 10.05
77th		 9.25
Inventory turnover —
Receivables turnover 5.5 6.2
39th		 6.2
Days sales outstanding 66 days 58 days
62nd		 59 days
Days inventory outstanding —
Days payables outstanding 3 days 32 days
0th		 46 days
Cash conversion cycle (days) 63 days 34 days
78th		 50 days
Capex / revenue 0.7% 2.1%
16th		 2.3%
Capex / depreciation 1.50 0.47
91st		 0.56
Operating expense ratio 37.5% 57.7%
27th		 44.3%

Cash flow & earnings quality

MeasurePLTRIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.13 1.79
17th		 1.61
FCF / net income 1.11 1.53
23rd		 1.33
FCF / operating cash flow 98.8% 90.7%
95th		 88.0%
Capex / operating cash flow 1.2% 9.3%
5th		 12.0%
Accruals ratio -4.0% -7.9%
72nd		 -6.3%
Sloan accruals ratio 39.2% -2.3%
98th		 -1.8%
Earnings quality score (0-1) 1.00 0.75
73rd		 0.75

Dividends & buybacks

MeasurePLTRIndustry medianIndustry percentileSector median
Dividend yield 0.0% 0.0%
0th		 0.0%
Dividend per share (TTM) $0.00 $0.00
0th		 $0.00
Payout ratio (dividends / net income) 0.0% 0.0%
0th		 0.0%
Dividends / FCF 0.0% 0.0%
0th		 0.0%
Dividend growth (YoY) —
Buyback yield 0.0% 2.0%
22nd		 1.2%
Shareholder yield (dividends + buybacks) 0.0% 2.3%
22nd		 1.7%
Share count change (YoY) 0.3% 0.0%
52nd		 0.1%
Buybacks, last 5 years $318.8M $224.2M
56th		 $215.3M

Scores & forensic checks

MeasurePLTRIndustry medianIndustry percentileSector median
IS score 86 58
99th		 56
IS profitability 100 44
100th		 40
IS growth 80 65
91st		 65
IS value 31 37
31st		 39
IS momentum 96 81
84th		 78
IS risk (safety) 100 65
67th		 100
IS quality 95 68
99th		 67
IS balance sheet 93 65
93rd		 72
IS earnings quality 64 62
54th		 61
IS cash flow 95 67
95th		 66
Piotroski F-score (0-9) 8 6
77th		 6
Altman Z-score 102.5 2.9
100th		 4.0
Beneish M-score −1.71 −2.61
89th		 −2.58
Ohlson O-score −15.38 −6.95
0th		 −8.00
IS credit score 92 64
83rd		 69

Per share

MeasurePLTRIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $1.17 $0.68
58th		 $0.84
Book value per share $3.80 $4.49
44th		 $9.77
Tangible book per share $4.12 $1.24
75th		 $3.22
Revenue per share $2.40 $10.67
14th		 $13.00
FCF per share $1.31 $1.54
47th		 $1.78
Operating cash flow per share $1.32 $2.14
35th		 $2.40
Cash per share $3.66 $4.92
42nd		 $4.50

Size (TTM)

MeasurePLTRIndustry medianIndustry percentileSector median
Market cap $428.0B $4.3B
99th		 $4.7B
Revenue $6.2B $1.3B
90th		 $1.2B
EBITDA $3.0B $176.5M
95th		 $185.8M
Net income $3.0B $87.5M
98th		 $84.9M
Free cash flow $3.4B $176.3M
96th		 $170.6M
Total assets $11.7B $2.4B
85th		 $2.4B
Shareholders' equity $9.8B $594.2M
94th		 $1.1B
Employees 4,401 2,856
65th		 3,000

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-09Woersching Eric H.
Director
 Open-market sale 1,000$205.00$205,0003,465
2026-10-08Stat Lauren Elaina Friedman
Director
 Open-market sale 5,026$199.00$1.0M46,402
2026-10-08Taylor Ryan D.
See Remarks
 Open-market sale 18,000$201.15$3.6M274,667
2026-10-01Stat Lauren Elaina Friedman
Director
 Open-market sale 1,337$189.95$253,96351,428
2026-09-29Glazer David A.
See Remarks
 Award / grant 92,908——468,150
2026-09-29Taylor Ryan D.
See Remarks
 Award / grant 92,908——292,667
2026-09-29Buckley Jeffrey
See Remarks
 Award / grant 16,714$186.97$3.1M16,714
2026-09-15Moore Alexander D.
Director
 Open-market sale 1,308$170.26$222,7021,077,787
2026-09-15Moore Alexander D.
Director
 Open-market sale 3,901$171.09$667,4141,073,886
2026-09-15Moore Alexander D.
Director
 Open-market sale 3,990$172.24$687,2241,069,896
2026-09-15Moore Alexander D.
Director
 Open-market sale 2,319$173.05$401,3071,067,577
2026-09-15Moore Alexander D.
Director
 Open-market sale 2,129$174.25$370,9881,065,448

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired9249,267$5.4M
ConversionDisposed71,445,540—
ConversionAcquired71,445,540—
GiftDisposed2350,000—
Open-market saleDisposed871,752,660$260.1M
Option exerciseAcquired63,000,000—
Option exerciseDisposed63,000,000—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 38 notices · 6,213,303 shares · $913.9M
FiledFilerShares proposedEst. proceeds
2026-10-15Alexander D. Moore48,000$9.6M
2026-10-09Eric Woersching1,000$198,780
2026-10-08Ryan Taylor18,000$3.5M
2026-10-08Lauren Stat5,026$975,647
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 40 trades (20 purchases) · Senate 1 (1 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-07-17Gilbert CisnerosHousePurchase$1,001 - $15,0002026-09-07
2026-07-17Gilbert CisnerosHousePurchase$1,001 - $15,0002026-09-07
2026-07-16Gilbert Ray CisnerosHousePurchase$1,001 - $15,0002026-09-07
2026-07-07Ro KhannaHousePurchase$1,001 - $15,0002026-08-12
2026-05-15John BoozmanSenatePurchase$1,001 - $15,0002026-06-16
2025-06-03John W. HickenlooperSenateSale$1,001 - $15,0002026-05-05
2025-06-03John Wright HickenlooperSenateSale$1,001 - $15,0002026-05-05
2025-04-16John W. HickenlooperSenateSale$1,001 - $15,0002026-05-05
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.189,817,693$22.1B8.25%
VANGUARD CAPITAL MANAGEMENT LLC146,137,514$17.0B6.35%
STATE STREET CORP104,490,468$12.2B4.54%
Invesco Ltd.70,438,517$8.2B3.06%
GEODE CAPITAL MANAGEMENT, LLC55,334,968$6.4B2.41%
VANGUARD PORTFOLIO MANAGEMENT LLC50,276,809$5.9B2.19%
NORGES BANK31,076,211$3.6B1.35%
JPMORGAN CHASE & CO26,298,114$3.0B1.14%
MORGAN STANLEY24,166,019$2.8B1.05%
GOLDMAN SACHS GROUP INC22,705,848$2.6B0.99%
FMR LLC22,568,609$2.6B0.98%
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP20,517,115$2.4B0.89%
BANK OF AMERICA CORP /DE/19,020,265$2.2B0.83%
Sixth Street Partners Management Company, L.P.17,698,587$2.1B0.77%
CHARLES SCHWAB INVESTMENT MANAGEMENT INC17,698,587$2.1B0.77%

Institutional ownership by quarter

2023-092026-0661.2%
% of shares held by 13F filers
2023-092026-062,852
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-302,85261.2%2181,2651,109320
2026-03-312,99555.7%2641,4581,029269
2025-12-313,04656.2%4491,2791,098157
2025-09-302,81552.4%4011,227976142
2025-06-302,60150.9%5181,17375382
2025-03-312,19049.6%377941761152
2024-12-312,01047.4%67665056384
2024-09-301,45245.7%32659736072
2024-06-301,21437.2%19955527798
2024-03-311,13136.9%20646731784
2023-12-311,02935.9%19843623563
2023-09-3090833.9%12736124583

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-30SCHEDULE 13GVanguard Capital Management7.3%166,908,333
2025-04-30SCHEDULE 13G/AThe Vanguard Group8.8%198,523,394
2025-01-31SCHEDULE 13G/AThe Vanguard Group10.2%221,460,945
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.56%$13.0B
VTI0.56%$13.0B
VTSAX0.56%$13.0B
VSMPX0.56%$13.0B
VFINX0.65%$11.3B
VFIAX0.65%$11.3B

Share structure

Shares outstanding2,300,710,000
Float2,209,769,836
Free float96.0%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$1.5B$1.9B$2.2B$2.9B$4.5B
Cost of revenue$339.4M$408.5M$431.1M$566.0M$789.2M
Gross profit$1.2B$1.5B$1.8B$2.3B$3.7B
R&D$387.5M$359.7M$404.6M$507.9M$557.7M
SG&A$1.2B$1.3B$1.3B$1.5B$1.7B
Operating income−$411.0M−$161.2M$120.0M$310.4M$1.4B
EBITDA−$470.0M−$138.7M$153.3M$342.0M$1.4B
Pretax income−$488.5M−$361.0M$237.1M$489.2M$1.7B
Income tax$31.9M$10.1M$19.7M$21.3M$22.7M
Net income−$520.4M−$373.7M$209.8M$462.2M$1.6B
EPS, diluted$-0.27$-0.18$0.09$0.19$0.63
Diluted shares1.9B2.1B2.3B2.5B2.6B

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$2.5B$2.6B$3.7B$5.2B$7.2B
Receivables$190.9M$258.3M$364.8M$575.0M$1.0B
Inventory$0$0$0$0$0
Total current assets$2.9B$3.0B$4.1B$5.9B$8.4B
PP&E, net$248.2M$269.4M$230.6M$240.4M$252.1M
Goodwill & intangibles$0$0$0$0$0
Total assets$3.2B$3.5B$4.5B$6.3B$8.9B
Accounts payable$74.9M$44.8M$12.1M$103,000$8.1M
Total current liabilities$660.1M$587.9M$746.0M$996.0M$1.2B
Long-term debt$0$0$0$0$183.5M
Total liabilities$956.4M$818.8M$961.5M$1.2B$1.4B
Shareholders' equity$2.3B$2.6B$3.6B$5.1B$7.5B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income−$520.4M−$371.1M$217.4M$467.9M$1.6B
Depreciation & amortization$14.9M$22.5M$33.4M$31.6M$26.1M
Stock-based compensation$778.2M$564.8M$475.9M$691.6M$684.0M
Change in working capital−$92.1M−$261.2M$6.2M−$70.1M−$210.0M
Operating cash flow$333.9M$223.7M$712.2M$1.2B$2.1B
Capital expenditure−$12.6M−$40.0M−$15.1M−$12.6M−$33.9M
Free cash flow$321.2M$183.7M$697.1M$1.1B$2.1B
Investing cash flow−$397.9M−$45.4M−$2.7B−$340.7M−$2.8B
Net debt issued / repaid−$200.0M$0$0$0$0
Buybacks$0$0$0−$64.2M−$75.0M
Dividends paid$0$0$0$0$0

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin78.0%78.6%80.6%80.2%82.4%
Operating margin-26.7%-8.5%5.4%10.8%31.6%
Net margin-33.7%-19.6%9.4%16.1%36.3%
FCF margin20.8%9.6%31.3%39.8%47.0%
ROE-27.3%-15.4%6.9%10.9%26.2%
ROIC-1,235.8%-70.3%357.4%2,374.0%223.4%
ROA-17.5%-11.1%5.3%8.5%21.3%
Debt / equity0.110.100.070.050.06
Interest coveragen/mn/m58.0x——
Current ratio4.345.175.555.967.11
Revenue growth+152.2%+23.6%+16.7%+28.8%+56.2%
EPS growth+54.5%+34.4%+152.5%+105.4%+245.4%
P/E at year endn/mn/m192.9x413.7x281.5x
EV / EBITDA at year endn/mn/m157.9x544.5x303.3x
FCF yield at year end0.88%1.30%1.72%0.60%0.46%
Dividend payout——0.0%0.0%0.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Government Operating Segment$9.0B$1.1B$1.2B$1.6B$2.4B
Commercial$644.5M$834.1M$1.0B$1.3B$2.1B

Revenue by region · FY2025

Geographic Concentration Risk$4.5B · 50%
UNITED STATES$3.3B · 37%
Rest Of World$728.0M · 8%
UNITED KINGDOM$427.4M · 5%

Street estimates by fiscal year

Next report 2026-11-02 · consensus EPS $0.41 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$8.2B$8.1B – $8.5B$1.60$1.52 – $1.7019116.5x
2027$12.3B$11.7B – $13.0B$2.30$1.91 – $2.881981.0x
2028$17.9B$17.0B – $19.5B$3.42$2.62 – $4.13954.3x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-03$0.34$0.41+19.0%$1.8B$1.9B+6.8%
2026-05-04$0.28$0.33+19.0%$1.5B$1.6B+5.9%
2026-02-02$0.23$0.25+8.6%$1.3B$1.4B+4.9%
2025-11-03$0.17$0.21+25.1%$1.1B$1.2B+8.2%
2025-08-04$0.14$0.16+15.8%$937.7M$1.0B+7.0%
2025-05-05$0.13$0.13+1.1%$862.2M$883.9M+2.5%
2025-02-03$0.11$0.14+27.3%$869.3M$827.5M−4.8%
2024-11-04$0.09$0.10+10.4%$705.1M$725.5M+2.9%
2024-08-05$0.08$0.09+11.8%$653.2M$678.1M+3.8%
2024-05-06$0.08$0.08+3.5%$615.4M$634.3M+3.1%
2024-02-05$0.08$0.08+5.8%$602.9M$608.4M+0.9%
2023-11-02$0.06$0.07+16.7%$555.4M$558.2M+0.5%
2023-08-07$0.05$0.050.0%$532.7M$533.3M+0.1%
2023-05-08$0.04$0.05+25.3%$505.6M$525.2M+3.9%
2023-02-13$0.03$0.04+50.4%$502.6M$508.6M+1.2%
2022-11-07$0.02$0.01−38.3%$474.8M$477.9M+0.7%
2022-08-08$-0.00$-0.01−132.6%$469.1M$473.0M+0.8%
2022-05-09$0.04$0.02−45.9%$443.4M$446.4M+0.7%
2022-02-17$0.04$0.02−44.0%$417.7M$432.9M+3.6%
2021-11-09$0.04$0.04+9.3%$385.0M$392.1M+1.9%
2021-08-12$0.04$0.04+13.0%$352.3M$375.6M+6.6%
2021-05-11$0.04$0.04+9.0%$341.2M$341.2M0.0%
2021-02-16$0.02$0.07+190.5%$322.1M$322.1M+0.0%
2020-11-12$0.02$0.09+359.2%$651.1M$289.4M−55.6%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
2.506-154.506-223.506-294.007-063.507-132.907-203.507-279.708-035.508-104.208-174.208-244.208-31
Week ofNotionalSharesTrades
2026-08-31$4.2B23,578,762375,112
2026-08-24$4.2B23,291,555369,923
2026-08-17$4.2B24,161,353383,109
2026-08-10$5.5B31,478,284471,075
2026-08-03$9.7B62,005,119814,082
2026-07-27$3.5B28,228,881398,736

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1555.1%
DateShort shareShort volumeTotal volume
2026-10-1555.1%6,212,52911,274,217
2026-10-1454.3%5,759,22310,613,315
2026-10-1357.9%4,880,5548,431,821
2026-10-1255.2%6,520,61911,813,114
2026-10-0961.1%10,680,14017,482,901
2026-10-0863.7%13,569,79321,293,322
2026-10-0760.9%4,616,5277,578,156
2026-10-0662.1%5,005,1588,057,272
2026-10-0556.0%3,937,3557,032,757
2026-10-0254.1%3,799,2777,017,747
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+6.7Jan-0.5Feb+2.3Mar+0.7Apr+16.8May+9.8Jun+10.5Jul-2.0Aug+7.3Sep+6.0Oct+32.9Nov-4.6Dec
MonthAvg returnUp yearsYears
Jan+6.7%50%6
Feb−0.5%33%6
Mar+2.3%67%6
Apr+0.7%20%5
May+16.8%60%5
Jun+9.8%100%5
Jul+10.5%80%5
Aug−2.0%60%5
Sep+7.3%67%6
Oct+6.0%83%6
Nov+32.9%50%6
Dec−4.6%33%6
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1446.3
MFI59.1
ADX33.2
Stochastic %K / %D39.6 / 60.7
Williams %R-94.5
CCI-24
TSI / signal26.2 / 27.9
Chaikin money flow0.05
ATR$7.76
Bollinger width16.5%
Volume vs 20-day avg1.43x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$193.55 (−3.9%)
SMA 50$182.57 (+1.9%)
SMA 200$152.65 (+21.9%)
EMA 21$192.57 (−3.4%)
EMA 50$180.24 (+3.2%)
EMA 200$158.05 (+17.7%)
Bollinger upper$209.51 (−11.2%)
Bollinger lower$177.59 (+4.8%)
Parabolic SAR$212.53 (−12.5%)
Open the live chart, 110+ indicators

About Palantir Technologies Inc.

Palantir Technologies Inc. engineers and deploys advanced software platforms primarily for the intelligence community, supporting counterterrorism investigations and operations across the United States, the United Kingdom, and internationally. One such product is Palantir Gotham, a sophisticated software system that enables users to uncover hidden patterns within diverse datasets, from signals intelligence to confidential informant reports. Gotham also facilitates the seamless handover between analysts and operational personnel, helping operators strategize and execute real-world responses to threats pinpointed within the platform. The company also offers Palantir Foundry, a platform that revolutionizes organizational operations by providing a central data operating system, allowing individual users to integrate and analyze their essential data in one cohesive environment. Additionally, Palantir provides Apollo, a software solution for delivering applications and updates across an enterprise, enabling clients to deploy their software in virtually any setting. Its Palantir Artificial Intelligence Platform (AIP) offers unified access to open-source, self-hosted, and commercial large language models (LLMs). AIP excels at transforming both structured and unstructured data into LLM-understandable objects, converting an organization's actions and processes into practical tools for human operators and LLM-driven agents alike. Founded in 2003, Palantir Technologies Inc. maintains its headquarters in Denver, Colorado.

https://www.palantir.com

Key executives

NameTitlePayBorn
Alexander C. KarpCo-Founder, Chief Executive Officer & Director$8.6M1967
Shyam SankarChief Technology Officer & Executive Vice President$1.2M1983
Stephen Andrew CohenCo-Founder, President, Secretary & Director$1.0M1984
David A. GlazerChief Financial Officer & Treasurer$486,7351985
Ryan D. TaylorChief Revenue Officer & Chief Legal Officer$479,4601983
Jeffrey BuckleyChief Accounting Officer—1984
Joseph LonsdaleCo-Founder—1983
Peter Andreas ThielCo-Founder & Chairman—1967

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
David Glazer Chief Financial Officer & Treasurer2025$450,200$21.2M$0$28.0M
Ryan Taylor Chief Revenue Officer and Chief Legal Officer2025$442,925$21.2M$0$28.0M
Alexander Karp Chief Executive Officer2025$1.1M$0$0$8.6M
Shyam Sankar Chief Technology Officer & Executive Vice President2025$509,419$0$0$1.2M
Stephen Cohen President & Secretary2025$273,636$0$0$1.0M

Employees

2k20203k20214k20224k20234k20244k2025

Dividends

Ex-dateAmountPaid
None on file.

Moat model

Wide · Network Effects · 2026-06-30
Cost advantage74
Intangibles77
Switching costs54
Network effect95
Efficient scale88
Our component scores (0-100) and overall 75.0; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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