PLTRNasdaqServices-Prepackaged SoftwareFiscal year ends December 31
Palantir Technologies Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$194.15+8.12 (+4.36%)
Close on Oct 19, 2026
- Market cap
- $498.71B
- P/E (TTM)
- 165.9
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2017 to 2025
Gross margin
82.4%+14.6 pts over 5 years
Operating margin
31.6%+139.0 pts over 5 years
Net margin
36.3%+143.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +56.2% | +32.9% | +32.6% | – | |
| Gross profit | +60.3% | +35.0% | +37.9% | – | |
| Operating income | +355.5% | – | – | – | |
| Net income | +251.6% | – | – | – | |
| EPS, diluted | +231.6% | – | – | – | |
| Free cash flow | +84.1% | +125.3% | – | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 509.2% | 26.2% | |
| Return on assets | – | -54.4% | 21.3% | |
| Current ratio | – | 3.74 | 7.11 | |
| Debt to equity | – | 0.13 | – | |
| Net debt to EBITDA | – | 1.66× | – | |
| Interest coverage | – | -83.0× | – | |
| Capex to revenue | – | 1.1% | 0.8% | |
| Diluted shares | – | 979M | 2.57B |
Where the cash went
Fiscal 2021 to 2025, five years combined
Palantir Technologies generated $4.56B from operations and spent $253.47M on capital expenditure, dividends and share buybacks. 45% of that went back into the business.
Generated
$4.56B
Used
$253.47M
Capital expenditure$114.28M45%Dividends$00%Share buybacks$139.18M55%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin36.3%
×Asset turnover0.59×
×Equity multiplier1.23×
=Return on equity, FY202526.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 36.3% | 0.59× | 1.23× | 26.2% |
| FY2024 | 16.1% | 0.53× | 1.28× | 10.9% |
| FY2023 | 9.4% | 0.56× | 1.32× | 6.9% |
| FY2022 | -19.6% | 0.57× | 1.38× | -15.4% |
| FY2021 | -33.7% | 0.52× | 1.56× | -27.3% |
| FY2020 | -106.7% | 0.51× | -9.35× | 509.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$1.63B
- Cash generatingOperating cash flow above zero$2.13B
- Return on assets improvedROA up on the prior year10.2% → 25.6%
- Earnings backed by cashOperating cash flow above net income$2.13B vs $1.63B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose5.96 → 7.11
- No dilutionShare count did not rise2.45B → 2.57B
- Gross margin improvedGross margin up on the prior year80.25% → 82.37%
- More efficientAsset turnover rose0.63 → 0.71