Palantir Technologies (PLTR) Financials

$158.74 +2.56 (+1.64%)

Closing price 08/22/2025 04:00 PM Eastern

Extended Trading

$159.67 +0.93 (+0.59%)

As of 08/22/2025 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	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	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	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	31	17	28	72	93	106	134	144	79	214	327
Consolidated Net Income / (Loss)	33	19	28	73	97	106	136	149	77	218	329
Net Income / (Loss) Continuing Operations	33	19	28	73	97	106	136	149	77	218	329
Total Pre-Tax Income	38	21	30	80	106	111	141	157	81	223	332
Total Operating Income	-18	4.12	10	40	66	81	105	113	11	176	269
Total Gross Profit	404	418	426	450	500	518	550	579	653	711	811
Total Revenue	509	525	533	558	608	634	678	726	828	884	1,004
Operating Revenue	509	525	533	558	608	634	678	726	828	884	1,004
Total Cost of Revenue	104	108	107	108	109	116	129	147	175	173	193
Operating Cost of Revenue	104	108	107	108	109	116	129	147	175	173	193
Total Operating Expenses	422	413	416	410	434	437	444	466	642	535	541
Selling, General & Admin Expense	150	136	133	128	127	134	139	139	182	164	163
Marketing Expense	190	187	184	176	197	193	197	209	288	236	244
Research & Development Expense	82	90	100	106	109	110	109	118	172	135	135
Total Other Income / (Expense), net	56	17	20	40	40	30	35	44	69	47	63
Interest & Investment Income	13	21	30	37	45	43	47	52	55	50	56
Other Income / (Expense), net	41	-4.14	-10	3.12	-4.09	-14	-11	-8.11	15	-3.17	6.60
Income Tax Expense	4.36	1.68	2.17	6.53	9.33	4.66	5.19	7.81	3.60	5.60	3.60
Net Income / (Loss) Attributable to Noncontrolling Interest	2.61	2.35	-0.26	1.93	3.52	0.54	1.44	5.82	-2.07	3.69	1.85
Basic Earnings per Share	$0.02	$0.01	$0.01	$0.03	$0.05	$0.05	$0.06	$0.06	$0.04	$0.09	$0.14
Weighted Average Basic Shares Outstanding	2.06B	2.11B	2.13B	2.16B	2.15B	2.21B	2.23B	2.25B	2.25B	2.35B	2.37B
Diluted Earnings per Share	$0.02	$0.01	$0.01	$0.03	$0.04	$0.04	$0.06	$0.06	$0.03	$0.08	$0.13
Weighted Average Diluted Shares Outstanding	2.06B	2.22B	2.28B	2.33B	2.30B	2.40B	2.41B	2.46B	2.45B	2.55B	2.56B
Weighted Average Basic & Diluted Shares Outstanding	2.10B	2.12B	2.15B	2.18B	2.21B	2.23B	2.24B	2.28B	2.35B	2.36B	2.37B

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	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	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	6/30/2025
Net Change in Cash & Equivalents	162	-1,339	-215	-12	-212	-310	-7.59	256	1,331	-1,105	-64
Net Cash From Operating Activities	79	187	90	133	301	130	144	420	460	310	539
Net Cash From Continuing Operating Activities	79	187	90	133	301	130	144	420	460	310	539
Net Income / (Loss) Continuing Operations	33	19	28	73	97	106	136	149	77	218	329
Consolidated Net Income / (Loss)	33	19	28	73	97	106	136	149	77	218	329
Depreciation Expense	7.37	8.32	8.40	8.66	7.97	8.44	8.06	8.09	7.01	6.62	6.53
Non-Cash Adjustments To Reconcile Net Income	115	120	105	117	113	132	141	180	272	152	165
Changes in Operating Assets and Liabilities, net	-77	40	-51	-66	83	-117	-140	82	104	-66	39
Net Cash From Investing Activities	73	-1,555	-391	-196	-569	-511	-149	-321	640	-1,390	-617
Net Cash From Continuing Investing Activities	73	-1,555	-391	-196	-569	-511	-149	-321	640	-1,390	-617
Purchase of Property, Plant & Equipment	-4.92	-4.76	-3.93	-1.57	-4.86	-2.66	-2.88	-3.99	-3.11	-6.18	-7.63
Purchase of Investments	-	-2,310	-627	-1,855	-845	-1,260	-524	-1,635	-1,977	-1,705	-942
Sale and/or Maturity of Investments	11	761	239	1,660	229	752	382	1,318	2,622	351	302
Net Cash From Financing Activities	14	26	91	51	51	75	-1.98	151	239	-29	6.45
Net Cash From Continuing Financing Activities	14	26	91	51	51	75	-1.98	151	239	-29	6.45
Repayment of Debt	0.18	0.06	0.34	0.38	-0.18	0.41	-0.31	-0.01	0.35	0.09	-0.03
Repurchase of Common Equity	-	0.00	-	-	-	-9.00	-18	-19	-19	-18	-19
Other Financing Activities, net	14	26	90	51	51	84	16	170	257	-11	25
Other Net Changes in Cash	-	2.68	-4.53	-0.26	5.04	-4.02	-0.92	5.91	-7.71	3.98	7.54

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	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	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	6/30/2025
Total Assets	3,461	3,683	3,980	4,193	4,522	4,807	5,192	5,768	6,341	6,737	7,366
Total Current Assets	3,042	3,256	3,577	3,809	4,139	4,436	4,774	5,352	5,934	6,283	6,890
Cash & Equivalents	2,599	1,265	1,056	1,040	831	520	513	769	2,099	993	930
Short-Term Investments	35	1,640	2,047	2,243	2,843	3,348	3,486	3,796	3,131	4,437	5,071
Accounts Receivable	258	254	376	430	365	487	659	668	575	725	747
Prepaid Expenses	150	86	98	96	100	81	116	119	129	127	142
Plant, Property, & Equipment, net	69	63	54	50	48	47	43	40	40	40	44
Total Noncurrent Assets	350	364	349	334	336	324	375	376	367	415	432
Other Noncurrent Operating Assets	350	364	349	334	336	324	375	376	367	415	432
Total Liabilities & Shareholders' Equity	3,461	3,683	3,980	4,193	4,522	4,807	5,192	5,768	6,341	6,737	7,366
Total Liabilities	819	880	945	922	961	946	1,054	1,177	1,246	1,218	1,340
Total Current Liabilities	588	601	685	689	746	751	807	943	996	967	1,090
Accounts Payable	45	4.53	4.61	9.48	12	36	67	27	0.10	2.33	11
Accrued Expenses	173	175	185	175	223	206	195	265	427	371	394
Customer Deposits	142	140	184	229	210	218	222	367	265	231	263
Current Deferred Revenue	183	230	260	224	247	237	278	237	260	319	377
Other Current Liabilities	45	53	52	52	54	54	44	48	44	44	45
Total Noncurrent Liabilities	231	279	260	233	215	195	247	233	250	251	250
Capital Lease Obligations	204	206	194	184	175	163	214	207	195	200	192
Noncurrent Deferred Revenue	9.97	54	50	35	28	21	16	7.83	40	36	45
Other Noncurrent Operating Liabilities	17	18	15	14	12	12	17	18	15	14	13
Commitments & Contingencies	-	-	-	-	-	-	-	-	-	-	0.00
Total Equity & Noncontrolling Interests	2,642	2,803	3,035	3,272	3,561	3,861	4,138	4,591	5,094	5,519	6,026
Total Preferred & Common Equity	2,565	2,724	2,955	3,190	3,476	3,775	4,051	4,498	5,003	5,424	5,929
Total Common Equity	2,565	2,724	2,955	3,190	3,476	3,775	4,051	4,498	5,003	5,424	5,929
Common Stock	8,430	8,571	8,775	8,940	9,124	9,325	9,465	9,760	10,196	10,401	10,571
Retained Earnings	-5,859	-5,843	-5,815	-5,743	-5,650	-5,544	-5,410	-5,266	-5,187	-4,973	-4,647
Accumulated Other Comprehensive Income / (Loss)	-5.33	-4.32	-5.21	-7.21	0.80	-5.72	-4.94	4.93	-5.61	-2.99	4.72
Noncontrolling Interest	77	79	80	82	85	86	87	93	91	95	97

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	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	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	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.50%	17.66%	12.75%	16.80%	19.61%	20.78%	27.15%	29.98%	36.03%	39.34%	48.01%
EBITDA Growth	125.27%	108.74%	104.71%	142.68%	131.28%	813.51%	1,157.03%	118.51%	-52.90%	136.77%	176.30%
EBIT Growth	118.49%	99.98%	99.85%	133.88%	171.18%	320,928.57%	35,368.16%	143.66%	-58.17%	156.59%	193.01%
NOPAT Growth	61.77%	113.70%	131.98%	184.34%	480.50%	1,948.16%	985.55%	192.82%	-82.42%	121.52%	162.58%
Net Income Growth	121.44%	118.89%	115.54%	159.28%	189.39%	453.87%	386.40%	103.35%	-20.61%	105.26%	142.36%
EPS Growth	125.00%	120.00%	111.11%	150.00%	100.00%	300.00%	500.00%	100.00%	-25.00%	100.00%	116.67%
Operating Cash Flow Growth	-15.70%	428.16%	44.47%	183.52%	282.38%	-30.85%	59.87%	214.57%	52.85%	139.44%	273.99%
Free Cash Flow Firm Growth	-212.70%	75.36%	81.31%	83.54%	175.62%	127.16%	-236.38%	237.74%	-93.89%	175.36%	419.00%
Invested Capital Growth	523.77%	154.57%	59.21%	68.47%	-70.90%	67.81%	180.65%	35.73%	-3.80%	84.57%	-38.51%
Revenue Q/Q Growth	6.43%	3.26%	1.55%	4.66%	8.99%	4.27%	6.90%	6.99%	14.06%	6.81%	13.56%
EBITDA Q/Q Growth	124.84%	-75.72%	-2.01%	536.60%	34.59%	3.65%	34.84%	10.66%	-70.99%	446.96%	57.35%
EBIT Q/Q Growth	117.88%	-100.08%	-1,171.43%	16,244.19%	43.14%	3.38%	39.77%	11.54%	-75.43%	569.77%	59.60%
NOPAT Q/Q Growth	63.77%	123.98%	147.06%	292.87%	63.44%	29.10%	30.94%	5.98%	-90.19%	1,527.00%	55.21%
Net Income Q/Q Growth	127.03%	-42.81%	45.54%	163.49%	31.96%	9.45%	27.81%	10.16%	-48.48%	182.98%	50.92%
EPS Q/Q Growth	133.33%	-50.00%	0.00%	200.00%	33.33%	0.00%	50.00%	0.00%	-50.00%	166.67%	62.50%
Operating Cash Flow Q/Q Growth	67.35%	137.90%	-51.87%	47.95%	125.69%	-56.98%	11.27%	191.13%	9.66%	-32.60%	73.80%
Free Cash Flow Firm Q/Q Growth	-37.75%	81.10%	28.90%	11.13%	733.06%	-93.21%	-980.72%	136.39%	-71.90%	205.76%	920.31%
Invested Capital Q/Q Growth	108.22%	-56.29%	35.31%	36.80%	-64.03%	152.06%	126.31%	-33.84%	-74.51%	383.62%	-24.60%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	79.49%	79.50%	79.96%	80.66%	82.14%	81.67%	81.04%	79.79%	78.91%	80.43%	80.78%
EBITDA Margin	5.92%	1.58%	1.52%	9.27%	11.45%	11.95%	15.07%	15.59%	3.97%	20.31%	28.14%
Operating Margin	-3.50%	0.78%	1.89%	7.16%	10.82%	12.75%	15.53%	15.59%	1.33%	19.92%	26.83%
EBIT Margin	4.47%	0.00%	-0.05%	7.72%	10.14%	10.62%	13.89%	14.48%	3.12%	19.56%	27.49%
Profit (Net Income) Margin	6.58%	3.65%	5.23%	13.16%	15.93%	16.72%	19.99%	20.58%	9.30%	24.63%	32.74%
Tax Burden Percent	88.48%	91.93%	92.77%	91.83%	91.21%	95.80%	96.31%	95.03%	95.53%	97.49%	98.92%
Interest Burden Percent	166.35%	-99,200.00%	-11,252.06%	185.52%	172.19%	164.35%	149.48%	149.62%	312.03%	129.18%	120.39%
Effective Tax Rate	11.52%	8.07%	7.23%	8.17%	8.79%	4.20%	3.69%	4.97%	4.47%	2.51%	1.08%
Return on Invested Capital (ROIC)	-72.61%	22.04%	34.93%	101.78%	159.59%	228.62%	154.63%	193.01%	60.06%	272.02%	319.77%
ROIC Less NNEP Spread (ROIC-NNEP)	-74.68%	21.43%	34.22%	100.42%	158.35%	227.72%	153.61%	191.89%	58.50%	270.99%	318.47%
Return on Net Nonoperating Assets (RNNOA)	72.21%	-20.89%	-32.91%	-95.54%	-151.33%	-219.20%	-143.34%	-181.97%	-57.68%	-258.14%	-300.57%
Return on Equity (ROE)	-0.40%	1.15%	2.02%	6.24%	8.27%	9.41%	11.29%	11.04%	2.38%	13.88%	19.19%
Cash Return on Invested Capital (CROIC)	-176.56%	-214.16%	-90.60%	-26.86%	189.81%	96.17%	19.67%	139.98%	492.03%	116.22%	241.94%
Operating Return on Assets (OROA)	2.54%	0.00%	-0.03%	4.37%	5.65%	5.84%	7.51%	7.69%	1.65%	10.56%	15.06%
Return on Assets (ROA)	3.74%	2.07%	2.94%	7.44%	8.88%	9.19%	10.81%	10.94%	4.90%	13.29%	17.94%
Return on Common Equity (ROCE)	-0.39%	1.13%	1.99%	6.15%	8.05%	9.18%	11.03%	10.79%	2.33%	13.61%	18.85%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-9.20%	-1.47%	4.83%	0.00%	8.06%	10.17%	10.85%	0.00%	10.68%	0.00%
Net Operating Profit after Tax (NOPAT)	-16	3.78	9.35	37	60	77	101	108	11	172	266
NOPAT Margin	-3.10%	0.72%	1.75%	6.58%	9.87%	12.21%	14.96%	14.82%	1.27%	19.42%	26.54%
Net Nonoperating Expense Percent (NNEP)	2.07%	0.61%	0.72%	1.36%	1.24%	0.89%	1.02%	1.12%	1.56%	1.03%	1.30%
Return On Investment Capital (ROIC_SIMPLE)	-0.55%	0.13%	0.29%	1.06%	1.61%	1.93%	2.33%	2.24%	0.20%	3.00%	4.28%
Cost of Revenue to Revenue	20.51%	20.50%	20.04%	19.34%	17.86%	18.33%	18.96%	20.21%	21.09%	19.57%	19.22%
SG&A Expenses to Revenue	29.46%	25.94%	24.87%	22.96%	20.92%	21.12%	20.44%	19.12%	22.01%	18.51%	16.20%
R&D to Revenue	16.13%	17.16%	18.66%	18.94%	17.96%	17.35%	16.04%	16.20%	20.72%	15.26%	13.45%
Operating Expenses to Revenue	83.00%	78.72%	78.07%	73.50%	71.33%	68.92%	65.51%	64.19%	77.57%	60.51%	53.95%
Earnings before Interest and Taxes (EBIT)	23	-0.02	-0.27	43	62	67	94	105	26	173	276
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	30	8.30	8.13	52	70	76	102	113	33	179	282
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.21	6.52	10.99	10.79	10.75	13.26	13.93	18.52	34.43	36.49	54.26
Price to Tangible Book Value (P/TBV)	5.21	6.52	10.99	10.79	10.75	13.26	13.93	18.52	34.43	36.49	54.26
Price to Revenue (P/Rev)	7.01	8.95	15.88	16.20	16.79	21.45	22.75	31.48	60.12	63.55	93.50
Price to Earnings (P/E)	0.00	0.00	0.00	233.72	178.06	167.71	139.43	174.81	372.76	346.86	421.47
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%	0.43%	0.56%	0.60%	0.72%	0.57%	0.27%	0.29%	0.24%
Enterprise Value to Invested Capital (EV/IC)	51.64	162.41	235.25	182.21	547.53	297.22	149.03	337.82	2,805.60	668.42	1,452.91
Enterprise Value to Revenue (EV/Rev)	5.77	7.62	14.50	14.78	15.26	19.90	21.26	29.87	58.40	61.90	91.84
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	306.80	246.23	222.40	173.99	216.98	516.54	450.86	519.83
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	451.13	324.80	264.85	195.36	238.27	572.35	484.60	545.16
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	947.00	308.65	253.72	191.78	228.44	563.60	493.62	569.61
Enterprise Value to Operating Cash Flow (EV/OCF)	49.17	40.27	73.49	64.13	47.67	70.98	74.41	79.46	145.03	144.48	182.70
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	130.04	387.32	1,117.08	277.91	559.17	746.08	457.33
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.08	0.07	0.06	0.06	0.05	0.04	0.05	0.05	0.04	0.04	0.03
Long-Term Debt to Equity	0.08	0.07	0.06	0.06	0.05	0.04	0.05	0.05	0.04	0.04	0.03
Financial Leverage	-0.97	-0.97	-0.96	-0.95	-0.96	-0.96	-0.93	-0.95	-0.99	-0.95	-0.94
Leverage Ratio	1.36	1.36	1.35	1.33	1.29	1.27	1.28	1.27	1.26	1.23	1.24
Compound Leverage Factor	2.26	-1,344.11	-151.78	2.46	2.22	2.09	1.91	1.90	3.92	1.59	1.49
Debt to Total Capital	7.18%	6.86%	6.01%	5.33%	4.69%	4.05%	4.92%	4.32%	3.69%	3.50%	3.09%
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	7.18%	6.86%	6.01%	5.33%	4.69%	4.05%	4.92%	4.32%	3.69%	3.50%	3.09%
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	2.71%	2.64%	2.47%	2.37%	2.29%	2.14%	2.01%	1.94%	1.72%	1.66%	1.55%
Common Equity to Total Capital	90.11%	90.50%	91.52%	92.30%	93.02%	93.81%	93.07%	93.74%	94.59%	94.84%	95.35%
Debt to EBITDA	-0.57	-0.82	-2.75	1.80	1.27	0.78	0.71	0.57	0.60	0.47	0.32
Net Debt to EBITDA	6.77	10.78	41.16	-30.27	-25.38	-17.74	-12.49	-11.96	-15.54	-12.23	-9.55
Long-Term Debt to EBITDA	-0.57	-0.82	-2.75	1.80	1.27	0.78	0.71	0.57	0.60	0.47	0.32
Debt to NOPAT	-1.81	-2.51	-4.21	5.55	1.59	0.89	0.78	0.60	0.66	0.51	0.35
Net Debt to NOPAT	21.53	32.91	63.13	-93.44	-31.81	-20.24	-13.77	-12.59	-16.96	-13.39	-10.47
Long-Term Debt to NOPAT	-1.81	-2.51	-4.21	5.55	1.59	0.89	0.78	0.60	0.66	0.51	0.35
Altman Z-Score	8.84	11.29	19.96	21.93	23.00	31.60	32.10	42.64	83.19	97.98	144.69
Noncontrolling Interest Sharing Ratio	1.56%	1.54%	1.48%	1.45%	2.62%	2.48%	2.33%	2.23%	2.04%	1.93%	1.81%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.17	5.41	5.22	5.53	5.55	5.91	5.92	5.67	5.96	6.49	6.32
Quick Ratio	4.92	5.25	5.08	5.39	5.41	5.80	5.77	5.55	5.83	6.36	6.19
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-279	-53	-38	-33	211	14	-126	46	13	39	403
Operating Cash Flow to CapEx	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%	7,063.81%
Free Cash Flow to Firm to Interest Expense	0.00	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	0.00	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	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.57	0.57	0.56	0.57	0.56	0.55	0.54	0.53	0.53	0.54	0.55
Accounts Receivable Turnover	8.48	7.77	6.37	5.50	7.14	6.30	4.79	4.82	6.10	5.14	4.89
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	37.94	37.81	40.20	39.37	38.06	42.43	50.81	58.50	65.58	71.96	79.09
Accounts Payable Turnover	6.83	26.38	13.89	12.37	15.15	21.90	12.82	27.41	92.60	32.81	17.59
Days Sales Outstanding (DSO)	43.02	46.95	57.26	66.42	51.11	57.94	76.20	75.75	59.86	71.02	74.62
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)	53.47	13.84	26.28	29.50	24.09	16.67	28.46	13.32	3.94	11.13	20.75
Cash Conversion Cycle (CCC)	-10.45	33.11	30.98	36.93	27.02	41.27	47.74	62.43	55.91	59.89	53.87
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	213	93	126	172	62	156	354	234	60	288	217
Invested Capital Turnover	23.42	30.60	19.93	15.47	16.18	18.72	10.34	13.02	47.11	14.01	12.05
Increase / (Decrease) in Invested Capital	263	57	47	70	-151	63	228	62	-2.36	132	-136
Enterprise Value (EV)	11,002	15,126	29,646	31,412	33,948	46,451	52,710	79,044	167,343	192,812	315,992
Market Capitalization	13,355	17,757	32,476	34,429	37,362	50,070	56,407	83,308	172,287	197,948	321,703
Book Value per Share	$1.23	$1.30	$1.40	$1.48	$1.60	$1.71	$1.82	$2.01	$2.20	$2.31	$2.51
Tangible Book Value per Share	$1.23	$1.30	$1.40	$1.48	$1.60	$1.71	$1.82	$2.01	$2.20	$2.31	$2.51
Total Capital	2,847	3,010	3,229	3,456	3,736	4,024	4,352	4,799	5,290	5,719	6,218
Total Debt	204	206	194	184	175	163	214	207	195	200	192
Total Long-Term Debt	204	206	194	184	175	163	214	207	195	200	192
Net Debt	-2,429	-2,710	-2,909	-3,100	-3,499	-3,705	-3,784	-4,357	-5,035	-5,231	-5,808
Capital Expenditures (CapEx)	4.92	4.76	3.93	1.57	4.86	2.66	2.88	3.99	3.11	6.18	7.63
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-180	-262	-212	-163	-282	-182	-32	-156	-292	-116	-200
Debt-free Net Working Capital (DFNWC)	2,454	2,655	2,892	3,120	3,393	3,686	3,967	4,409	4,938	5,315	5,801
Net Working Capital (NWC)	2,454	2,655	2,892	3,120	3,393	3,686	3,967	4,409	4,938	5,315	5,801
Net Nonoperating Expense (NNE)	-49	-15	-19	-37	-37	-29	-34	-42	-66	-46	-62
Net Nonoperating Obligations (NNO)	-2,429	-2,710	-2,909	-3,100	-3,499	-3,705	-3,784	-4,357	-5,035	-5,231	-5,808
Total Depreciation and Amortization (D&A)	7.37	8.32	8.40	8.66	7.97	8.44	8.06	8.09	7.01	6.62	6.53
Debt-free, Cash-free Net Working Capital to Revenue	-9.45%	-13.19%	-10.35%	-7.67%	-12.66%	-7.81%	-1.29%	-5.90%	-10.18%	-3.71%	-5.80%
Debt-free Net Working Capital to Revenue	128.74%	133.76%	141.39%	146.83%	152.48%	157.89%	160.01%	166.59%	172.34%	170.63%	168.60%
Net Working Capital to Revenue	128.74%	133.76%	141.39%	146.83%	152.48%	157.89%	160.01%	166.59%	172.34%	170.63%	168.60%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.02	$0.01	$0.01	$0.03	$0.05	$0.05	$0.06	$0.06	$0.04	$0.09	$0.14
Adjusted Weighted Average Basic Shares Outstanding	2.06B	2.11B	2.13B	2.16B	2.15B	2.21B	2.23B	2.25B	2.25B	2.35B	2.37B
Adjusted Diluted Earnings per Share	$0.02	$0.01	$0.01	$0.03	$0.04	$0.04	$0.06	$0.06	$0.03	$0.08	$0.13
Adjusted Weighted Average Diluted Shares Outstanding	2.06B	2.22B	2.28B	2.33B	2.30B	2.40B	2.41B	2.46B	2.45B	2.55B	2.56B
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	2.10B	2.12B	2.15B	2.18B	2.21B	2.23B	2.24B	2.28B	2.35B	2.36B	2.37B
Normalized Net Operating Profit after Tax (NOPAT)	-16	3.78	9.35	37	60	77	101	108	11	172	266
Normalized NOPAT Margin	-3.10%	0.72%	1.75%	6.58%	9.87%	12.21%	14.96%	14.82%	1.27%	19.42%	26.54%
Pre Tax Income Margin	7.44%	3.97%	5.63%	14.33%	17.46%	17.46%	20.76%	21.66%	9.73%	25.27%	33.09%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	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	0.00	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	0.00	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%	13.72%	12.63%	9.59%

Key Financial Trends

Palantir Technologies (NASDAQ: PLTR) has demonstrated notable financial trends over the past four years through its quarterly statements up to Q2 2025. Here’s an overview of key trends and data points that may influence investor sentiment:

Revenue Growth: The company has shown steady growth in its quarterly operating revenues, increasing from approximately $477 million in Q3 2022 to over $1 billion in Q2 2025, reflecting strong top-line expansion.
Improved Profitability: Net income has grown significantly over the same period, from a loss in Q3 2022 (-$123.9 million) to a solid positive net income of $328.6 million in Q2 2025. This indicates improved operational efficiency and profitability scaling.
Positive Earnings Per Share (EPS) Growth: Diluted EPS improved from negative $0.06 in Q3 2022 to positive $0.13 in Q2 2025, demonstrating shareholder value creation and earnings growth per share.
Strong Operating Cash Flow: Operating cash flow increased significantly, with $539.3 million generated in Q2 2025 compared to $42 million in Q3 2022, reflecting improved cash generation from core operations.
Balance Sheet Strength: Total assets increased from approximately $3.3 billion in Q3 2022 to $7.4 billion in Q2 2025, with substantial growth in cash, cash equivalents, and short-term investments, indicating strong liquidity.
Investments and Capital Expenditures: The company continues to invest heavily in property, plant, and equipment and investments, spending over $941 million in investments in Q2 2025 alone. While this represents growth initiatives, it impacts free cash flow and may carry execution risk.
Repurchase of Common Equity: Palantir has engaged in stock repurchases totaling nearly $19 million in Q2 2025. This suggests management confidence but also competes with other uses of cash.
Volatile Deferred Revenue and Customer Deposits: Both current and noncurrent deferred revenue and customer deposits show some fluctuations, which could signal variability in contract timing and revenue recognition.
Noncontrolling Interest Expenses: Net income attributable to noncontrolling interests has periodically reduced net earnings, for example by $1.8 million in Q2 2025, which slightly dilutes common shareholders’ returns.
Fluctuating Other Income/Expense: The company experiences variability in other income and expenses, occasionally negative, which can affect net income unpredictably and may signal exposure to market or financial instrument risks.

Summary: Palantir has exhibited strong revenue expansion, improving profitability, and solid cash flow generation over the last four years. The increasing cash and investment balances strengthen the company's financial position. However, investors should monitor its high investment spending, deferred revenue variability, and other income volatility, which could impact future earnings stability.

08/24/25 12:09 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Palantir Technologies' Financials

When does Palantir Technologies' financial year end?

According to the most recent income statement we have on file, Palantir Technologies' fiscal year ends in December. Their fiscal 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. Check out Palantir Technologies' forecast to explore projected trends and price targets.

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 8/24/2025 by MarketBeat.com Staff

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Palantir Technologies (PLTR) Financials

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Palantir Technologies (PLTR) Financials

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