Palantir Technologies (PLTR) Financials

$154.27 -4.08 (-2.58%)

Closing price 08/1/2025 04:00 PM Eastern

Extended Trading

$155.16 +0.88 (+0.57%)

As of 08/1/2025 08:00 PM Eastern

Annual Income Statements for Palantir Technologies

This table shows Palantir Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-598	-580	-1,166	-520	-374	210	462
Consolidated Net Income / (Loss)	-580	-580	-1,166	-520	-371	217	468
Net Income / (Loss) Continuing Operations	-580	-580	-1,166	-520	-371	217	468
Total Pre-Tax Income	-571	-567	-1,179	-488	-361	237	489
Total Operating Income	-623	-576	-1,174	-411	-161	120	310
Total Gross Profit	430	500	740	1,202	1,497	1,794	2,300
Total Revenue	595	743	1,093	1,542	1,906	2,225	2,866
Operating Revenue	595	743	1,093	1,542	1,906	2,225	2,866
Total Cost of Revenue	165	242	353	339	409	431	566
Operating Cost of Revenue	165	242	353	339	409	431	566
Total Operating Expenses	1,053	1,077	1,914	1,614	1,659	1,674	1,989
Selling, General & Admin Expense	306	321	669	612	596	524	593
Marketing Expense	462	450	684	615	703	745	888
Research & Development Expense	285	306	561	387	360	405	508
Total Other Income / (Expense), net	53	9.17	-5.35	-77	-200	117	179
Interest & Investment Income	11	15	4.68	1.61	20	133	197
Other Income / (Expense), net	45	-2.86	4.11	-75	-220	-15	-18
Income Tax Expense	9.10	12	-13	32	10	20	21
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	0.00	0.00	2.61	7.55	5.73
Basic Earnings per Share	($1.11)	($1.02)	($1.19)	($0.27)	($0.18)	$0.10	$0.21
Weighted Average Basic Shares Outstanding	537.28M	576.96M	977.72M	1.92B	2.06B	2.15B	2.25B
Diluted Earnings per Share	($1.17)	($1.02)	($1.20)	($0.27)	($0.18)	$0.09	$0.19
Weighted Average Diluted Shares Outstanding	544.01M	576.96M	979.33M	1.92B	2.06B	2.30B	2.45B
Weighted Average Basic & Diluted Shares Outstanding	-	-	1.82B	2.03B	2.10B	2.21B	2.35B

This table shows Palantir Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-124	31	17	28	72	93	106	134	144	79	214
Consolidated Net Income / (Loss)	-124	33	19	28	73	97	106	136	149	77	218
Net Income / (Loss) Continuing Operations	-124	33	19	28	73	97	106	136	149	77	218
Total Pre-Tax Income	-123	38	21	30	80	106	111	141	157	81	223
Total Operating Income	-62	-18	4.12	10	40	66	81	105	113	11	176
Total Gross Profit	370	404	418	426	450	500	518	550	579	653	711
Total Revenue	478	509	525	533	558	608	634	678	726	828	884
Operating Revenue	478	509	525	533	558	608	634	678	726	828	884
Total Cost of Revenue	108	104	108	107	108	109	116	129	147	175	173
Operating Cost of Revenue	108	104	108	107	108	109	116	129	147	175	173
Total Operating Expenses	432	422	413	416	410	434	437	444	466	642	535
Selling, General & Admin Expense	149	150	136	133	128	127	134	139	139	182	164
Marketing Expense	183	190	187	184	176	197	193	197	209	288	236
Research & Development Expense	101	82	90	100	106	109	110	109	118	172	135
Total Other Income / (Expense), net	-61	56	17	20	40	40	30	35	44	69	47
Interest & Investment Income	5.54	13	21	30	37	45	43	47	52	55	50
Other Income / (Expense), net	-65	41	-4.14	-10	3.12	-4.09	-14	-11	-8.11	15	-3.17
Income Tax Expense	1.10	4.36	1.68	2.17	6.53	9.33	4.66	5.19	7.81	3.60	5.60
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	2.61	2.35	-0.26	1.93	3.52	0.54	1.44	5.82	-2.07	3.69
Basic Earnings per Share	($0.06)	$0.02	$0.01	$0.01	$0.03	$0.05	$0.05	$0.06	$0.06	$0.04	$0.09
Weighted Average Basic Shares Outstanding	2.07B	2.06B	2.11B	2.13B	2.16B	2.15B	2.21B	2.23B	2.25B	2.25B	2.35B
Diluted Earnings per Share	($0.06)	$0.02	$0.01	$0.01	$0.03	$0.04	$0.04	$0.06	$0.06	$0.03	$0.08
Weighted Average Diluted Shares Outstanding	2.07B	2.06B	2.22B	2.28B	2.33B	2.30B	2.40B	2.41B	2.46B	2.45B	2.55B
Weighted Average Basic & Diluted Shares Outstanding	2.08B	2.10B	2.12B	2.15B	2.18B	2.21B	2.23B	2.24B	2.28B	2.35B	2.36B

This table details how cash moves in and out of Palantir Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	0.36	135	726	239	260	-1,777	1,270
Net Cash From Operating Activities	-39	-165	-297	334	224	712	1,154
Net Cash From Continuing Operating Activities	-39	-165	-297	334	224	712	1,154
Net Income / (Loss) Continuing Operations	-580	-580	-1,166	-520	-371	217	468
Consolidated Net Income / (Loss)	-580	-580	-1,166	-520	-371	217	468
Depreciation Expense	14	12	14	15	23	33	32
Non-Cash Adjustments To Reconcile Net Income	224	261	1,290	931	834	455	724
Changes in Operating Assets and Liabilities, net	303	141	-434	-92	-261	6.24	-70
Net Cash From Investing Activities	-6.78	-22	-15	-398	-45	-2,711	-341
Net Cash From Continuing Investing Activities	-6.78	78	-15	-398	-45	-2,711	-341
Purchase of Property, Plant & Equipment	-15	-13	-12	-13	-40	-15	-13
Purchase of Investments	-	0.00	0.00	-382	-125	-5,636	-5,396
Sale and/or Maturity of Investments	0.00	17	0.00	0.85	52	2,889	5,074
Other Investing Activities, net	-	0.00	-2.68	-3.87	67	51	-5.62
Net Cash From Financing Activities	46	325	1,036	307	86	219	463
Net Cash From Continuing Financing Activities	46	225	1,036	307	86	219	463
Repayment of Debt	-56	-151	-404	-201	-0.09	0.60	0.44
Repurchase of Common Equity	-7.71	-11	-	-	0.00	0.00	-64
Other Financing Activities, net	13	7.50	-	507	86	218	527
Other Net Changes in Cash	-	-2.23	1.26	-3.92	-3.89	2.93	-6.75
Cash Income Taxes Paid	17	8.58	14	4.13	2.90	14	16

This table details how cash moves in and out of Palantir Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	44	162	-1,339	-215	-12	-212	-310	-7.59	256	1,331	-1,105
Net Cash From Operating Activities	47	79	187	90	133	301	130	144	420	460	310
Net Cash From Continuing Operating Activities	47	79	187	90	133	301	130	144	420	460	310
Net Income / (Loss) Continuing Operations	-124	33	19	28	73	97	106	136	149	77	218
Consolidated Net Income / (Loss)	-124	33	19	28	73	97	106	136	149	77	218
Depreciation Expense	5.94	7.37	8.32	8.40	8.66	7.97	8.44	8.06	8.09	7.01	6.62
Non-Cash Adjustments To Reconcile Net Income	206	115	120	105	117	113	132	141	180	272	152
Changes in Operating Assets and Liabilities, net	-41	-77	40	-51	-66	83	-117	-140	82	104	-66
Net Cash From Investing Activities	-27	73	-1,555	-391	-196	-569	-511	-149	-321	640	-1,390
Net Cash From Continuing Investing Activities	-27	73	-1,555	-391	-196	-569	-511	-149	-321	640	-1,390
Purchase of Property, Plant & Equipment	-14	-4.92	-4.76	-3.93	-1.57	-4.86	-2.66	-2.88	-3.99	-3.11	-6.18
Purchase of Investments	-35	-	-2,310	-627	-1,855	-845	-1,260	-524	-1,635	-1,977	-1,705
Sale and/or Maturity of Investments	22	11	761	239	1,660	229	752	382	1,318	2,622	351
Other Investing Activities, net	-	-	-	-	-	51	-	-	-	-1.62	-30
Net Cash From Financing Activities	24	14	26	91	51	51	75	-1.98	151	239	-29
Net Cash From Continuing Financing Activities	24	14	26	91	51	51	75	-1.98	151	239	-29
Repayment of Debt	-0.58	0.18	0.06	0.34	0.38	-0.18	0.41	-0.31	-0.01	0.35	0.09
Repurchase of Common Equity	-	-	0.00	-	-	-	-9.00	-18	-19	-19	-18
Other Financing Activities, net	25	14	26	90	51	51	84	16	170	257	-11
Other Net Changes in Cash	-	-	2.68	-4.53	-0.26	5.04	-4.02	-0.92	5.91	-7.71	3.98

This table presents Palantir Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	1,594	2,691	3,247	3,461	4,522	6,341
Total Current Assets	1,214	2,257	2,863	3,042	4,139	5,934
Cash & Equivalents	1,079	2,011	2,291	2,599	831	2,099
Short-Term Investments	-	-	234	35	2,843	3,131
Accounts Receivable	50	157	191	258	365	575
Prepaid Expenses	33	52	111	150	100	129
Plant, Property, & Equipment, net	32	30	31	69	48	40
Total Noncurrent Assets	348	404	353	350	336	367
Other Noncurrent Operating Assets	348	404	353	350	336	367
Total Liabilities & Shareholders' Equity	1,594	2,691	3,247	3,461	4,522	6,341
Total Liabilities	1,447	1,168	956	819	961	1,246
Total Current Liabilities	729	604	660	588	746	996
Accounts Payable	52	16	75	45	12	0.10
Accrued Expenses	127	159	156	173	223	427
Customer Deposits	364	210	162	142	210	265
Current Deferred Revenue	186	190	228	183	247	260
Other Current Liabilities	0.00	29	40	45	54	44
Total Noncurrent Liabilities	719	564	296	231	215	250
Capital Lease Obligations	-	230	220	204	175	195
Noncurrent Deferred Revenue	77	51	40	9.97	28	40
Other Noncurrent Operating Liabilities	246	86	36	17	12	15
Total Equity & Noncontrolling Interests	-1,981	1,523	2,291	2,642	3,561	5,094
Total Preferred & Common Equity	-1,981	1,523	2,291	2,565	3,476	5,003
Total Common Equity	-1,981	1,523	2,291	2,565	3,476	5,003
Common Stock	1,858	6,491	7,779	8,430	9,124	10,196
Retained Earnings	-3,799	-4,965	-5,486	-5,859	-5,650	-5,187
Accumulated Other Comprehensive Income / (Loss)	-0.70	-2.75	-2.35	-5.33	0.80	-5.61
Other Equity Adjustments	-	-	0.00	0.00	0.00	0.00
Noncontrolling Interest	-	-	0.00	77	85	91

This table presents Palantir Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Total Assets	3,319	3,461	3,683	3,980	4,193	4,522	4,807	5,192	5,768	6,341	6,737
Total Current Assets	2,947	3,042	3,256	3,577	3,809	4,139	4,436	4,774	5,352	5,934	6,283
Cash & Equivalents	2,411	2,599	1,265	1,056	1,040	831	520	513	769	2,099	993
Short-Term Investments	57	35	1,640	2,047	2,243	2,843	3,348	3,486	3,796	3,131	4,437
Accounts Receivable	343	258	254	376	430	365	487	659	668	575	725
Prepaid Expenses	114	150	86	98	96	100	81	116	119	129	127
Plant, Property, & Equipment, net	58	69	63	54	50	48	47	43	40	40	40
Total Noncurrent Assets	314	350	364	349	334	336	324	375	376	367	415
Other Noncurrent Operating Assets	314	350	364	349	334	336	324	375	376	367	415
Total Liabilities & Shareholders' Equity	3,319	3,461	3,683	3,980	4,193	4,522	4,807	5,192	5,768	6,341	6,737
Total Liabilities	932	819	880	945	922	961	946	1,054	1,177	1,246	1,218
Total Current Liabilities	688	588	601	685	689	746	751	807	943	996	967
Accounts Payable	60	45	4.53	4.61	9.48	12	36	67	27	0.10	2.33
Accrued Expenses	165	173	175	185	175	223	206	195	265	427	371
Customer Deposits	234	142	140	184	229	210	218	222	367	265	231
Current Deferred Revenue	190	183	230	260	224	247	237	278	237	260	319
Other Current Liabilities	40	45	53	52	52	54	54	44	48	44	44
Total Noncurrent Liabilities	244	231	279	260	233	215	195	247	233	250	251
Capital Lease Obligations	205	204	206	194	184	175	163	214	207	195	200
Noncurrent Deferred Revenue	31	9.97	54	50	35	28	21	16	7.83	40	36
Other Noncurrent Operating Liabilities	7.58	17	18	15	14	12	12	17	18	15	14
Total Equity & Noncontrolling Interests	2,387	2,642	2,803	3,035	3,272	3,561	3,861	4,138	4,591	5,094	5,519
Total Preferred & Common Equity	2,387	2,565	2,724	2,955	3,190	3,476	3,775	4,051	4,498	5,003	5,424
Total Common Equity	2,387	2,565	2,724	2,955	3,190	3,476	3,775	4,051	4,498	5,003	5,424
Common Stock	8,287	8,430	8,571	8,775	8,940	9,124	9,325	9,465	9,760	10,196	10,401
Retained Earnings	-5,890	-5,859	-5,843	-5,815	-5,743	-5,650	-5,544	-5,410	-5,266	-5,187	-4,973
Accumulated Other Comprehensive Income / (Loss)	-9.84	-5.33	-4.32	-5.21	-7.21	0.80	-5.72	-4.94	4.93	-5.61	-2.99
Other Equity Adjustments	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Noncontrolling Interest	-	77	79	80	82	85	86	87	93	91	95

This table displays calculated financial ratios and metrics derived from Palantir Technologies' official financial filings.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	24.71%	47.15%	41.11%	23.61%	16.75%	28.79%
EBITDA Growth	0.00%	-0.53%	-103.81%	59.20%	23.91%	138.42%	134.98%
EBIT Growth	0.00%	-0.23%	-101.89%	58.41%	21.61%	127.41%	179.74%
NOPAT Growth	0.00%	7.54%	-103.61%	64.98%	60.78%	197.47%	169.95%
Net Income Growth	0.00%	0.07%	-101.22%	55.39%	28.69%	158.58%	115.26%
EPS Growth	0.00%	12.82%	-17.65%	77.50%	33.33%	150.00%	111.11%
Operating Cash Flow Growth	0.00%	-323.50%	-79.53%	212.56%	-32.98%	218.31%	62.02%
Free Cash Flow Firm Growth	0.00%	0.00%	-808.79%	74.41%	-12.05%	169.40%	14.64%
Invested Capital Growth	0.00%	0.00%	83.30%	48.84%	523.77%	-70.90%	-3.80%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	7.74%	4.14%	4.69%	8.28%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	6.30%	29.39%	34.66%	-11.07%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	6.07%	27.66%	50.11%	-11.86%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	19.19%	20.32%	231.60%	-14.19%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-1.53%	33.82%	41.20%	-4.09%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-50.00%	35.71%	28.57%	-5.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-624.85%	50.29%	-6.15%	45.41%	16.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-25.10%	807.63%	5.22%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	11.42%	108.22%	-64.03%	-74.51%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	72.22%	67.36%	67.74%	77.99%	78.56%	80.62%	80.25%
EBITDA Margin	-94.74%	-76.36%	-105.77%	-30.58%	-18.83%	6.20%	11.31%
Operating Margin	-104.71%	-77.63%	-107.41%	-26.66%	-8.46%	5.39%	10.83%
EBIT Margin	-97.07%	-78.01%	-107.04%	-31.55%	-20.01%	4.70%	10.20%
Profit (Net Income) Margin	-97.42%	-78.06%	-106.75%	-33.75%	-19.47%	9.77%	16.33%
Tax Burden Percent	101.59%	102.18%	98.93%	106.53%	102.79%	91.68%	95.65%
Interest Burden Percent	98.78%	97.92%	100.81%	100.42%	94.67%	226.84%	167.31%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	8.32%	4.35%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	-138.64%	79.97%	488.16%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	-127.81%	76.35%	484.15%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	123.59%	-72.96%	-477.34%
Return on Equity (ROE)	0.00%	-395.42%	-139.76%	-27.29%	-15.04%	7.01%	10.81%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	-176.56%	189.81%	492.03%
Operating Return on Assets (OROA)	0.00%	-36.34%	-54.59%	-16.38%	-11.37%	2.62%	5.38%
Return on Assets (ROA)	0.00%	-36.36%	-54.45%	-17.53%	-11.06%	5.45%	8.61%
Return on Common Equity (ROCE)	0.00%	5,342.76%	38.36%	-27.29%	-14.81%	6.82%	10.59%
Return on Equity Simple (ROE_SIMPLE)	0.00%	29.27%	-76.61%	-22.71%	-14.47%	6.25%	9.35%
Net Operating Profit after Tax (NOPAT)	-436	-404	-822	-288	-113	110	297
NOPAT Margin	-73.30%	-54.34%	-75.19%	-18.66%	-5.92%	4.94%	10.36%
Net Nonoperating Expense Percent (NNEP)	0.00%	-47.92%	-29.27%	-11.74%	-10.83%	3.62%	4.01%
Return On Investment Capital (ROIC_SIMPLE)	-	25.46%	-42.13%	-11.46%	-3.96%	2.94%	5.61%
Cost of Revenue to Revenue	27.78%	32.64%	32.26%	22.01%	21.44%	19.38%	19.75%
SG&A Expenses to Revenue	51.43%	43.22%	61.27%	39.66%	31.29%	23.57%	20.71%
R&D to Revenue	47.94%	41.15%	51.31%	25.13%	18.87%	18.19%	17.72%
Operating Expenses to Revenue	176.93%	144.99%	175.15%	104.65%	87.02%	75.23%	69.42%
Earnings before Interest and Taxes (EBIT)	-578	-579	-1,170	-486	-381	105	292
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-564	-567	-1,156	-472	-359	138	324
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	26.95	15.94	5.21	10.75	34.43
Price to Tangible Book Value (P/TBV)	0.00	0.00	26.95	15.94	5.21	10.75	34.43
Price to Revenue (P/Rev)	3.38	2.71	37.55	23.68	7.01	16.79	60.12
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	178.06	372.76
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.56%	0.27%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	51.64	547.53	2,805.60
Enterprise Value to Revenue (EV/Rev)	0.00	4.59	36.06	22.16	5.77	15.26	58.40
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	246.23	516.54
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	324.80	572.35
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	308.65	563.60
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	102.34	49.17	47.67	145.03
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	18.41	0.00	0.00	0.00	130.04	559.17
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	2.70	0.28	0.10	0.08	0.05	0.04
Long-Term Debt to Equity	0.00	2.70	0.28	0.10	0.08	0.05	0.04
Financial Leverage	0.00	-5.02	-1.41	-1.04	-0.97	-0.96	-0.99
Leverage Ratio	0.00	10.87	2.57	1.56	1.36	1.29	1.26
Compound Leverage Factor	0.00	10.65	2.59	1.56	1.29	2.92	2.10
Debt to Total Capital	0.00%	72.99%	21.93%	8.77%	7.18%	4.69%	3.69%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	72.99%	21.93%	8.77%	7.18%	4.69%	3.69%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	392.01%	0.00%	0.00%	2.71%	2.29%	1.72%
Common Equity to Total Capital	0.00%	-364.99%	78.07%	91.23%	90.11%	93.02%	94.59%
Debt to EBITDA	0.00	-0.70	-0.37	-0.47	-0.57	1.27	0.60
Net Debt to EBITDA	0.00	1.30	1.40	4.97	6.77	-25.38	-15.54
Long-Term Debt to EBITDA	0.00	-0.70	-0.37	-0.47	-0.57	1.27	0.60
Debt to NOPAT	0.00	-0.98	-0.52	-0.77	-1.81	1.59	0.66
Net Debt to NOPAT	0.00	1.82	1.97	8.14	21.53	-31.81	-16.96
Long-Term Debt to NOPAT	0.00	-0.98	-0.52	-0.77	-1.81	1.59	0.66
Altman Z-Score	0.00	-2.87	18.20	21.33	8.45	23.04	83.32
Noncontrolling Interest Sharing Ratio	0.00%	1,451.15%	127.44%	0.00%	1.56%	2.62%	2.04%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	1.67	3.74	4.34	5.17	5.55	5.96
Quick Ratio	0.00	1.55	3.59	4.11	4.92	5.41	5.83
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	185	-1,312	-336	-376	261	299
Operating Cash Flow to CapEx	-575.06%	0.00%	-2,424.06%	2,643.95%	558.97%	4,712.07%	9,133.01%
Free Cash Flow to Firm to Interest Expense	0.00	60.47	-92.79	-92.23	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-11.34	-53.97	-20.98	91.72	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-13.31	-25.58	-21.84	88.25	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.47	0.51	0.52	0.57	0.56	0.53
Accounts Receivable Turnover	0.00	14.76	10.54	8.87	8.48	7.14	6.10
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	23.51	35.75	50.68	37.94	38.06	65.58
Accounts Payable Turnover	0.00	4.68	10.35	7.44	6.83	15.15	92.60
Days Sales Outstanding (DSO)	0.00	24.73	34.61	41.17	43.02	51.11	59.86
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	77.91	35.25	49.07	53.47	24.09	3.94
Cash Conversion Cycle (CCC)	0.00	-53.18	-0.63	-7.90	-10.45	27.02	55.91
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	-589	-98	-50	213	62	60
Invested Capital Turnover	0.00	-2.52	-3.18	-20.76	23.42	16.18	47.11
Increase / (Decrease) in Invested Capital	0.00	-589	490	48	263	-151	-2.36
Enterprise Value (EV)	0.00	3,407	39,404	34,166	11,002	33,948	167,343
Market Capitalization	2,015	2,015	41,025	36,508	13,355	37,362	172,287
Book Value per Share	$0.00	($3.43)	$0.87	$1.14	$1.23	$1.60	$2.20
Tangible Book Value per Share	$0.00	($3.43)	$0.87	$1.14	$1.23	$1.60	$2.20
Total Capital	0.00	543	1,950	2,511	2,847	3,736	5,290
Total Debt	0.00	396	428	220	204	175	195
Total Long-Term Debt	0.00	396	428	220	204	175	195
Net Debt	0.00	-735	-1,621	-2,341	-2,429	-3,499	-5,035
Capital Expenditures (CapEx)	6.78	-87	12	13	40	15	13
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-646	-395	-358	-180	-282	-292
Debt-free Net Working Capital (DFNWC)	0.00	486	1,654	2,203	2,454	3,393	4,938
Net Working Capital (NWC)	0.00	486	1,654	2,203	2,454	3,393	4,938
Net Nonoperating Expense (NNE)	144	176	345	233	258	-107	-171
Net Nonoperating Obligations (NNO)	0.00	-735	-1,621	-2,341	-2,429	-3,499	-5,035
Total Depreciation and Amortization (D&A)	14	12	14	15	23	33	32
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-86.96%	-36.15%	-23.24%	-9.45%	-12.66%	-10.18%
Debt-free Net Working Capital to Revenue	0.00%	65.39%	151.34%	142.89%	128.74%	152.48%	172.34%
Net Working Capital to Revenue	0.00%	65.39%	151.34%	142.89%	128.74%	152.48%	172.34%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($1.19)	($0.27)	($0.18)	$0.10	$0.21
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	977.72M	1.92B	2.06B	2.15B	2.25B
Adjusted Diluted Earnings per Share	$0.00	$0.00	($1.20)	($0.27)	($0.18)	$0.09	$0.19
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	979.33M	1.92B	2.06B	2.30B	2.45B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	1.82B	2.03B	2.10B	2.21B	2.35B
Normalized Net Operating Profit after Tax (NOPAT)	-436	-404	-822	-288	-113	110	297
Normalized NOPAT Margin	-73.30%	-54.34%	-75.19%	-18.66%	-5.92%	4.94%	10.36%
Pre Tax Income Margin	-95.89%	-76.39%	-107.90%	-31.68%	-18.94%	10.66%	17.07%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	-168.02	-189.25	-82.72	-133.64	0.00	0.00	0.00
NOPAT to Interest Expense	-126.86	-131.82	-58.11	-79.05	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-169.99	-160.86	-83.58	-137.11	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-128.83	-103.43	-58.97	-82.52	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-1.33%	-1.93%	0.00%	0.00%	0.00%	0.00%	13.72%

This table displays calculated financial ratios and metrics derived from Palantir Technologies' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	21.86%	17.50%	17.66%	12.75%	16.80%	19.61%	20.78%	27.15%	29.98%	36.03%	39.34%
EBITDA Growth	-24.52%	125.27%	108.74%	104.71%	142.68%	131.28%	813.51%	1,157.03%	118.51%	-52.90%	136.77%
EBIT Growth	-26.64%	118.49%	99.98%	99.85%	133.88%	171.18%	320,928.57%	35,368.16%	143.66%	-58.17%	156.59%
NOPAT Growth	32.36%	61.77%	113.70%	131.98%	184.34%	480.50%	1,948.16%	985.55%	192.82%	-82.42%	121.52%
Net Income Growth	-21.28%	121.44%	118.89%	115.54%	159.28%	189.39%	453.87%	386.40%	103.35%	-20.61%	105.26%
EPS Growth	-20.00%	125.00%	120.00%	111.11%	150.00%	100.00%	300.00%	500.00%	100.00%	-25.00%	100.00%
Operating Cash Flow Growth	-53.30%	-15.70%	428.16%	44.47%	183.52%	282.38%	-30.85%	59.87%	214.57%	52.85%	139.44%
Free Cash Flow Firm Growth	49.61%	-212.70%	75.36%	81.31%	83.54%	175.62%	127.16%	-236.38%	237.74%	-93.89%	175.36%
Invested Capital Growth	280.29%	523.77%	154.57%	59.21%	68.47%	-70.90%	67.81%	180.65%	35.73%	-3.80%	84.57%
Revenue Q/Q Growth	1.03%	6.43%	3.26%	1.55%	4.66%	8.99%	4.27%	6.90%	6.99%	14.06%	6.81%
EBITDA Q/Q Growth	29.74%	124.84%	-75.72%	-2.01%	536.60%	34.59%	3.65%	34.84%	10.66%	-70.99%	446.96%
EBIT Q/Q Growth	28.33%	117.88%	-100.08%	-1,171.43%	16,244.19%	43.14%	3.38%	39.77%	11.54%	-75.43%	569.77%
NOPAT Q/Q Growth	-48.98%	63.77%	123.98%	147.06%	292.87%	63.44%	29.10%	30.94%	5.98%	-90.19%	1,527.00%
Net Income Q/Q Growth	30.92%	127.03%	-42.81%	45.54%	163.49%	31.96%	9.45%	27.81%	10.16%	-48.48%	182.98%
EPS Q/Q Growth	33.33%	133.33%	-50.00%	0.00%	200.00%	33.33%	0.00%	50.00%	0.00%	-50.00%	166.67%
Operating Cash Flow Q/Q Growth	-24.61%	67.35%	137.90%	-51.87%	47.95%	125.69%	-56.98%	11.27%	191.13%	9.66%	-32.60%
Free Cash Flow Firm Q/Q Growth	-0.96%	-37.75%	81.10%	28.90%	11.13%	733.06%	-93.21%	-980.72%	136.39%	-71.90%	205.76%
Invested Capital Q/Q Growth	29.28%	108.22%	-56.29%	35.31%	36.80%	-64.03%	152.06%	126.31%	-33.84%	-74.51%	383.62%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	77.48%	79.49%	79.50%	79.96%	80.66%	82.14%	81.67%	81.04%	79.79%	78.91%	80.43%
EBITDA Margin	-25.38%	5.92%	1.58%	1.52%	9.27%	11.45%	11.95%	15.07%	15.59%	3.97%	20.31%
Operating Margin	-13.01%	-3.50%	0.78%	1.89%	7.16%	10.82%	12.75%	15.53%	15.59%	1.33%	19.92%
EBIT Margin	-26.63%	4.47%	0.00%	-0.05%	7.72%	10.14%	10.62%	13.89%	14.48%	3.12%	19.56%
Profit (Net Income) Margin	-25.92%	6.58%	3.65%	5.23%	13.16%	15.93%	16.72%	19.99%	20.58%	9.30%	24.63%
Tax Burden Percent	100.89%	88.48%	91.93%	92.77%	91.83%	91.21%	95.80%	96.31%	95.03%	95.53%	97.49%
Interest Burden Percent	96.50%	166.35%	-99,200.00%	-11,252.06%	185.52%	172.19%	164.35%	149.48%	149.62%	312.03%	129.18%
Effective Tax Rate	0.00%	11.52%	8.07%	7.23%	8.17%	8.79%	4.20%	3.69%	4.97%	4.47%	2.51%
Return on Invested Capital (ROIC)	-731.70%	-72.61%	22.04%	34.93%	101.78%	159.59%	228.62%	154.63%	193.01%	60.06%	272.02%
ROIC Less NNEP Spread (ROIC-NNEP)	-728.20%	-74.68%	21.43%	34.22%	100.42%	158.35%	227.72%	153.61%	191.89%	58.50%	270.99%
Return on Net Nonoperating Assets (RNNOA)	721.04%	72.21%	-20.89%	-32.91%	-95.54%	-151.33%	-219.20%	-143.34%	-181.97%	-57.68%	-258.14%
Return on Equity (ROE)	-10.66%	-0.40%	1.15%	2.02%	6.24%	8.27%	9.41%	11.29%	11.04%	2.38%	13.88%
Cash Return on Invested Capital (CROIC)	-293.87%	-176.56%	-214.16%	-90.60%	-26.86%	189.81%	96.17%	19.67%	139.98%	492.03%	116.22%
Operating Return on Assets (OROA)	-14.89%	2.54%	0.00%	-0.03%	4.37%	5.65%	5.84%	7.51%	7.69%	1.65%	10.56%
Return on Assets (ROA)	-14.50%	3.74%	2.07%	2.94%	7.44%	8.88%	9.19%	10.81%	10.94%	4.90%	13.29%
Return on Common Equity (ROCE)	-10.66%	-0.39%	1.13%	1.99%	6.15%	8.05%	9.18%	11.03%	10.79%	2.33%	13.61%
Return on Equity Simple (ROE_SIMPLE)	-23.50%	0.00%	-9.20%	-1.47%	4.83%	0.00%	8.06%	10.17%	10.85%	0.00%	10.68%
Net Operating Profit after Tax (NOPAT)	-44	-16	3.78	9.35	37	60	77	101	108	11	172
NOPAT Margin	-9.11%	-3.10%	0.72%	1.75%	6.58%	9.87%	12.21%	14.96%	14.82%	1.27%	19.42%
Net Nonoperating Expense Percent (NNEP)	-3.50%	2.07%	0.61%	0.72%	1.36%	1.24%	0.89%	1.02%	1.12%	1.56%	1.03%
Return On Investment Capital (ROIC_SIMPLE)	-1.68%	-0.55%	0.13%	0.29%	1.06%	1.61%	1.93%	2.33%	2.24%	0.20%	3.00%
Cost of Revenue to Revenue	22.52%	20.51%	20.50%	20.04%	19.34%	17.86%	18.33%	18.96%	20.21%	21.09%	19.57%
SG&A Expenses to Revenue	31.11%	29.46%	25.94%	24.87%	22.96%	20.92%	21.12%	20.44%	19.12%	22.01%	18.51%
R&D to Revenue	21.11%	16.13%	17.16%	18.66%	18.94%	17.96%	17.35%	16.04%	16.20%	20.72%	15.26%
Operating Expenses to Revenue	90.50%	83.00%	78.72%	78.07%	73.50%	71.33%	68.92%	65.51%	64.19%	77.57%	60.51%
Earnings before Interest and Taxes (EBIT)	-127	23	-0.02	-0.27	43	62	67	94	105	26	173
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-121	30	8.30	8.13	52	70	76	102	113	33	179
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.03	5.21	6.52	10.99	10.79	10.75	13.26	13.93	18.52	34.43	36.49
Price to Tangible Book Value (P/TBV)	7.03	5.21	6.52	10.99	10.79	10.75	13.26	13.93	18.52	34.43	36.49
Price to Revenue (P/Rev)	9.17	7.01	8.95	15.88	16.20	16.79	21.45	22.75	31.48	60.12	63.55
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	233.72	178.06	167.71	139.43	174.81	372.76	346.86
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.43%	0.56%	0.60%	0.72%	0.57%	0.27%	0.29%
Enterprise Value to Invested Capital (EV/IC)	141.67	51.64	162.41	235.25	182.21	547.53	297.22	149.03	337.82	2,805.60	668.42
Enterprise Value to Revenue (EV/Rev)	7.92	5.77	7.62	14.50	14.78	15.26	19.90	21.26	29.87	58.40	61.90
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	306.80	246.23	222.40	173.99	216.98	516.54	450.86
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	451.13	324.80	264.85	195.36	238.27	572.35	484.60
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	947.00	308.65	253.72	191.78	228.44	563.60	493.62
Enterprise Value to Operating Cash Flow (EV/OCF)	60.81	49.17	40.27	73.49	64.13	47.67	70.98	74.41	79.46	145.03	144.48
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	130.04	387.32	1,117.08	277.91	559.17	746.08
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.09	0.08	0.07	0.06	0.06	0.05	0.04	0.05	0.05	0.04	0.04
Long-Term Debt to Equity	0.09	0.08	0.07	0.06	0.06	0.05	0.04	0.05	0.05	0.04	0.04
Financial Leverage	-0.99	-0.97	-0.97	-0.96	-0.95	-0.96	-0.96	-0.93	-0.95	-0.99	-0.95
Leverage Ratio	1.41	1.36	1.36	1.35	1.33	1.29	1.27	1.28	1.27	1.26	1.23
Compound Leverage Factor	1.36	2.26	-1,344.11	-151.78	2.46	2.22	2.09	1.91	1.90	3.92	1.59
Debt to Total Capital	7.91%	7.18%	6.86%	6.01%	5.33%	4.69%	4.05%	4.92%	4.32%	3.69%	3.50%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	7.91%	7.18%	6.86%	6.01%	5.33%	4.69%	4.05%	4.92%	4.32%	3.69%	3.50%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	2.71%	2.64%	2.47%	2.37%	2.29%	2.14%	2.01%	1.94%	1.72%	1.66%
Common Equity to Total Capital	92.09%	90.11%	90.50%	91.52%	92.30%	93.02%	93.81%	93.07%	93.74%	94.59%	94.84%
Debt to EBITDA	-0.40	-0.57	-0.82	-2.75	1.80	1.27	0.78	0.71	0.57	0.60	0.47
Net Debt to EBITDA	4.50	6.77	10.78	41.16	-30.27	-25.38	-17.74	-12.49	-11.96	-15.54	-12.23
Long-Term Debt to EBITDA	-0.40	-0.57	-0.82	-2.75	1.80	1.27	0.78	0.71	0.57	0.60	0.47
Debt to NOPAT	-1.45	-1.81	-2.51	-4.21	5.55	1.59	0.89	0.78	0.60	0.66	0.51
Net Debt to NOPAT	16.13	21.53	32.91	63.13	-93.44	-31.81	-20.24	-13.77	-12.59	-16.96	-13.39
Long-Term Debt to NOPAT	-1.45	-1.81	-2.51	-4.21	5.55	1.59	0.89	0.78	0.60	0.66	0.51
Altman Z-Score	9.56	8.84	11.29	19.96	21.93	23.00	31.60	32.10	42.64	83.19	97.98
Noncontrolling Interest Sharing Ratio	0.00%	1.56%	1.54%	1.48%	1.45%	2.62%	2.48%	2.33%	2.23%	2.04%	1.93%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.28	5.17	5.41	5.22	5.53	5.55	5.91	5.92	5.67	5.96	6.49
Quick Ratio	4.09	4.92	5.25	5.08	5.39	5.41	5.80	5.77	5.55	5.83	6.36
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-203	-279	-53	-38	-33	211	14	-126	46	13	39
Operating Cash Flow to CapEx	326.03%	1,601.53%	3,940.61%	2,292.63%	8,526.71%	6,196.95%	4,864.08%	5,008.23%	10,533.80%	14,820.57%	5,017.19%
Free Cash Flow to Firm to Interest Expense	-187.27	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	43.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	30.16	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.56	0.57	0.57	0.56	0.57	0.56	0.55	0.54	0.53	0.53	0.54
Accounts Receivable Turnover	7.07	8.48	7.77	6.37	5.50	7.14	6.30	4.79	4.82	6.10	5.14
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	42.27	37.94	37.81	40.20	39.37	38.06	42.43	50.81	58.50	65.58	71.96
Accounts Payable Turnover	10.16	6.83	26.38	13.89	12.37	15.15	21.90	12.82	27.41	92.60	32.81
Days Sales Outstanding (DSO)	51.62	43.02	46.95	57.26	66.42	51.11	57.94	76.20	75.75	59.86	71.02
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	35.94	53.47	13.84	26.28	29.50	24.09	16.67	28.46	13.32	3.94	11.13
Cash Conversion Cycle (CCC)	15.68	-10.45	33.11	30.98	36.93	27.02	41.27	47.74	62.43	55.91	59.89
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	102	213	93	126	172	62	156	354	234	60	288
Invested Capital Turnover	80.32	23.42	30.60	19.93	15.47	16.18	18.72	10.34	13.02	47.11	14.01
Increase / (Decrease) in Invested Capital	159	263	57	47	70	-151	63	228	62	-2.36	132
Enterprise Value (EV)	14,497	11,002	15,126	29,646	31,412	33,948	46,451	52,710	79,044	167,343	192,812
Market Capitalization	16,782	13,355	17,757	32,476	34,429	37,362	50,070	56,407	83,308	172,287	197,948
Book Value per Share	$1.16	$1.23	$1.30	$1.40	$1.48	$1.60	$1.71	$1.82	$2.01	$2.20	$2.31
Tangible Book Value per Share	$1.16	$1.23	$1.30	$1.40	$1.48	$1.60	$1.71	$1.82	$2.01	$2.20	$2.31
Total Capital	2,592	2,847	3,010	3,229	3,456	3,736	4,024	4,352	4,799	5,290	5,719
Total Debt	205	204	206	194	184	175	163	214	207	195	200
Total Long-Term Debt	205	204	206	194	184	175	163	214	207	195	200
Net Debt	-2,284	-2,429	-2,710	-2,909	-3,100	-3,499	-3,705	-3,784	-4,357	-5,035	-5,231
Capital Expenditures (CapEx)	14	4.92	4.76	3.93	1.57	4.86	2.66	2.88	3.99	3.11	6.18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-231	-180	-262	-212	-163	-282	-182	-32	-156	-292	-116
Debt-free Net Working Capital (DFNWC)	2,258	2,454	2,655	2,892	3,120	3,393	3,686	3,967	4,409	4,938	5,315
Net Working Capital (NWC)	2,258	2,454	2,655	2,892	3,120	3,393	3,686	3,967	4,409	4,938	5,315
Net Nonoperating Expense (NNE)	80	-49	-15	-19	-37	-37	-29	-34	-42	-66	-46
Net Nonoperating Obligations (NNO)	-2,284	-2,429	-2,710	-2,909	-3,100	-3,499	-3,705	-3,784	-4,357	-5,035	-5,231
Total Depreciation and Amortization (D&A)	5.94	7.37	8.32	8.40	8.66	7.97	8.44	8.06	8.09	7.01	6.62
Debt-free, Cash-free Net Working Capital to Revenue	-12.62%	-9.45%	-13.19%	-10.35%	-7.67%	-12.66%	-7.81%	-1.29%	-5.90%	-10.18%	-3.71%
Debt-free Net Working Capital to Revenue	123.39%	128.74%	133.76%	141.39%	146.83%	152.48%	157.89%	160.01%	166.59%	172.34%	170.63%
Net Working Capital to Revenue	123.39%	128.74%	133.76%	141.39%	146.83%	152.48%	157.89%	160.01%	166.59%	172.34%	170.63%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.06)	$0.02	$0.01	$0.01	$0.03	$0.05	$0.05	$0.06	$0.06	$0.04	$0.09
Adjusted Weighted Average Basic Shares Outstanding	2.07B	2.06B	2.11B	2.13B	2.16B	2.15B	2.21B	2.23B	2.25B	2.25B	2.35B
Adjusted Diluted Earnings per Share	($0.06)	$0.02	$0.01	$0.01	$0.03	$0.04	$0.04	$0.06	$0.06	$0.03	$0.08
Adjusted Weighted Average Diluted Shares Outstanding	2.07B	2.06B	2.22B	2.28B	2.33B	2.30B	2.40B	2.41B	2.46B	2.45B	2.55B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	2.08B	2.10B	2.12B	2.15B	2.18B	2.21B	2.23B	2.24B	2.28B	2.35B	2.36B
Normalized Net Operating Profit after Tax (NOPAT)	-44	-16	3.78	9.35	37	60	77	101	108	11	172
Normalized NOPAT Margin	-9.11%	-3.10%	0.72%	1.75%	6.58%	9.87%	12.21%	14.96%	14.82%	1.27%	19.42%
Pre Tax Income Margin	-25.69%	7.44%	3.97%	5.63%	14.33%	17.46%	17.46%	20.76%	21.66%	9.73%	25.27%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-117.59	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-40.23	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-130.94	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-53.58	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	13.72%	12.63%

Key Financial Trends

Palantir Technologies (NASDAQ: PLTR) has shown a generally positive trajectory over the past four years, with notable growth and some fluctuations in profitability and cash flow. Here's a detailed summary of the company's financial trends:

Revenue Growth: Operating revenue increased consistently from $477.9 million in Q3 2022 to $883.9 million in Q1 2025, reflecting strong top-line growth.
Gross Profit Improvement: Gross profit rose from approximately $370 million in Q3 2022 to $711 million by Q1 2025, indicating better cost management or higher margin products/services.
Net Income Turnaround: After posting net losses in 2022 (e.g., -$123.9 million in Q3 2022), Palantir moved to sustained profitability in 2023 and 2024, with Q1 2025 net income at $217.7 million, demonstrating operational improvements.
Strong Operating Cash Flow: Net cash provided by operating activities was $310.3 million in Q1 2025, showing solid cash generation from core operations.
Investment in Growth: The company consistently invested in property, plant, and equipment and made substantial investments, suggesting ongoing commitment to growth and expansion.
Fluctuation in Marketing Expenses: Marketing expenses saw increases and decreases over the quarters, with a high in Q4 2024 ($288.3 million) falling to $236.3 million in Q1 2025, which may signal changes in sales strategy.
Share Count Increase: Weighted average basic and diluted shares outstanding have trended upward but moderately, potentially diluting earnings per share slightly but enabling capital raising.
Significant Investing Outflows: Heavy net cash outflows in investing activities, especially in investment purchases (over $1.7 billion in Q1 2025), could pressure liquidity if not matched by operational cash flow.
Repurchase of Common Equity: Though buybacks can indicate management confidence, repurchasing stock ($18 million in Q1 2025) uses cash that might otherwise support growth or reduce debt.
Negative Retained Earnings: Retained earnings remained deeply negative (-$4.97 billion in Q1 2025), reflecting cumulative losses from prior years that offset recent profits and may concern stakeholders about historical profitability.

Summary: Palantir has made a strong recovery from losses in 2022 to profitability and growing revenues through early 2025, demonstrating operational resilience and growth potential. However, investors should monitor the high investing cash outflows and the company's ability to sustain profitability and manage its equity position moving forward.

08/03/25 02:05 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Palantir Technologies' Financials

When does Palantir Technologies' fiscal year end?

According to the most recent income statement we have on file, Palantir Technologies' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Palantir Technologies' net income changed over the last 6 years?

Palantir Technologies' net income appears to be on a downward trend, with a most recent value of $467.92 million in 2024, falling from -$580.03 million in 2018. The previous period was $217.38 million in 2023. View Palantir Technologies' forecast to see where analysts expect Palantir Technologies to go next.

What is Palantir Technologies' operating income?

Palantir Technologies' total operating income in 2024 was $310.40 million, based on the following breakdown:

Total Gross Profit: $2.30 billion
Total Operating Expenses: $1.99 billion

How has Palantir Technologies' revenue changed over the last 6 years?

Over the last 6 years, Palantir Technologies' total revenue changed from $595.41 million in 2018 to $2.87 billion in 2024, a change of 381.3%.

How much debt does Palantir Technologies have?

Palantir Technologies' total liabilities were at $1.25 billion at the end of 2024, a 29.6% increase from 2023, and a 13.9% decrease since 2019.

How much cash does Palantir Technologies have?

In the past 5 years, Palantir Technologies' cash and equivalents has ranged from $831.05 million in 2023 to $2.60 billion in 2022, and is currently $2.10 billion as of their latest financial filing in 2024.

How has Palantir Technologies' book value per share changed over the last 6 years?

Over the last 6 years, Palantir Technologies' book value per share changed from 0.00 in 2018 to 2.20 in 2024, a change of 219.6%.

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This page (NASDAQ:PLTR) was last updated on 8/3/2025 by MarketBeat.com Staff

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Palantir Technologies (PLTR) Financials

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Palantir Technologies (PLTR) Financials

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