Palantir Technologies (PLTR) Financials

$133.73 +3.68 (+2.83%)

Closing price 04:00 PM Eastern

Extended Trading

$133.58 -0.15 (-0.11%)

As of 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	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-598	-580	-1,166	-520	-374	210	462	1,625
Consolidated Net Income / (Loss)	-580	-580	-1,166	-520	-371	217	468	1,635
Net Income / (Loss) Continuing Operations	-580	-580	-1,166	-520	-371	217	468	1,635
Total Pre-Tax Income	-571	-567	-1,179	-488	-361	237	489	1,657
Total Operating Income	-623	-576	-1,174	-411	-161	120	310	1,414
Total Gross Profit	430	500	740	1,202	1,497	1,794	2,300	3,686
Total Revenue	595	743	1,093	1,542	1,906	2,225	2,866	4,475
Operating Revenue	595	743	1,093	1,542	1,906	2,225	2,866	4,475
Total Cost of Revenue	165	242	353	339	409	431	566	789
Operating Cost of Revenue	165	242	353	339	409	431	566	789
Total Operating Expenses	1,053	1,077	1,914	1,614	1,659	1,674	1,989	2,272
Selling, General & Admin Expense	306	321	669	612	596	524	593	658
Marketing Expense	462	450	684	615	703	745	888	1,057
Research & Development Expense	285	306	561	387	360	405	508	558
Total Other Income / (Expense), net	53	9.17	-5.35	-77	-200	117	179	243
Interest & Investment Income	11	15	4.68	1.61	20	133	197	229
Other Income / (Expense), net	45	-2.86	4.11	-75	-220	-15	-18	14
Income Tax Expense	9.10	12	-13	32	10	20	21	23
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	0.00	0.00	2.61	7.55	5.73	9.61
Basic Earnings per Share	($1.11)	($1.02)	($1.19)	($0.27)	($0.18)	$0.10	$0.21	$0.69
Weighted Average Basic Shares Outstanding	537.28M	576.96M	977.72M	1.92B	2.06B	2.15B	2.25B	2.37B
Diluted Earnings per Share	($1.17)	($1.02)	($1.20)	($0.27)	($0.18)	$0.09	$0.19	$0.63
Weighted Average Diluted Shares Outstanding	544.01M	576.96M	979.33M	1.92B	2.06B	2.30B	2.45B	2.57B
Weighted Average Basic & Diluted Shares Outstanding	-	-	1.82B	2.03B	2.10B	2.21B	2.35B	2.39B

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 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	72	93	106	134	144	79	214	327	476	609	871
Consolidated Net Income / (Loss)	73	97	106	136	149	77	218	329	477	612	876
Net Income / (Loss) Continuing Operations	73	97	106	136	149	77	218	329	477	612	876
Total Pre-Tax Income	80	106	111	141	157	81	223	332	481	621	889
Total Operating Income	40	66	81	105	113	11	176	269	393	575	754
Total Gross Profit	450	500	518	550	579	653	711	811	974	1,191	1,417
Total Revenue	558	608	634	678	726	828	884	1,004	1,181	1,407	1,633
Operating Revenue	558	608	634	678	726	828	884	1,004	1,181	1,407	1,633
Total Cost of Revenue	108	109	116	129	147	175	173	193	207	216	216
Operating Cost of Revenue	108	109	116	129	147	175	173	193	207	216	216
Total Operating Expenses	410	434	437	444	466	642	535	541	581	615	663
Selling, General & Admin Expense	128	127	134	139	139	182	164	163	162	170	183
Marketing Expense	176	197	193	197	209	288	236	244	275	302	319
Research & Development Expense	106	109	110	109	118	172	135	135	144	144	161
Total Other Income / (Expense), net	40	40	30	35	44	69	47	63	87	46	135
Interest & Investment Income	37	45	43	47	52	55	50	56	60	63	66
Other Income / (Expense), net	3.12	-4.09	-14	-11	-8.11	15	-3.17	6.60	27	-17	68
Income Tax Expense	6.53	9.33	4.66	5.19	7.81	3.60	5.60	3.60	3.75	9.78	12
Net Income / (Loss) Attributable to Noncontrolling Interest	1.93	3.52	0.54	1.44	5.82	-2.07	3.69	1.85	1.15	2.93	5.88
Basic Earnings per Share	$0.03	$0.05	$0.05	$0.06	$0.06	$0.04	$0.09	$0.14	$0.20	$0.26	$0.36
Weighted Average Basic Shares Outstanding	2.16B	2.15B	2.21B	2.23B	2.25B	2.25B	2.35B	2.37B	2.38B	2.37B	2.39B
Diluted Earnings per Share	$0.03	$0.04	$0.04	$0.06	$0.06	$0.03	$0.08	$0.13	$0.18	$0.24	$0.34
Weighted Average Diluted Shares Outstanding	2.33B	2.30B	2.40B	2.41B	2.46B	2.45B	2.55B	2.56B	2.57B	2.57B	2.57B
Weighted Average Basic & Diluted Shares Outstanding	2.18B	2.21B	2.23B	2.24B	2.28B	2.35B	2.36B	2.37B	2.38B	2.39B	2.40B

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	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	0.36	135	726	239	260	-1,777	1,270	-669
Net Cash From Operating Activities	-39	-165	-297	334	224	712	1,154	2,134
Net Cash From Continuing Operating Activities	-39	-165	-297	334	224	712	1,154	2,134
Net Income / (Loss) Continuing Operations	-580	-580	-1,166	-520	-371	217	468	1,635
Consolidated Net Income / (Loss)	-580	-580	-1,166	-520	-371	217	468	1,635
Depreciation Expense	14	12	14	15	23	33	32	26
Non-Cash Adjustments To Reconcile Net Income	224	261	1,290	931	834	455	724	684
Changes in Operating Assets and Liabilities, net	303	141	-434	-92	-261	6.24	-70	-210
Net Cash From Investing Activities	-6.78	-22	-15	-398	-45	-2,711	-341	-2,784
Net Cash From Continuing Investing Activities	-6.78	78	-15	-398	-45	-2,711	-341	-2,784
Purchase of Property, Plant & Equipment	-15	-13	-12	-13	-40	-15	-13	-34
Purchase of Investments	-	0.00	0.00	-382	-125	-5,636	-5,402	-7,775
Sale and/or Maturity of Investments	0.00	17	0.00	0.85	52	2,889	5,074	5,026
Other Investing Activities, net	-	0.00	-2.68	-3.87	67	51	0.00	-1.00
Net Cash From Financing Activities	46	325	1,036	307	86	219	463	-27
Net Cash From Continuing Financing Activities	46	225	1,036	307	86	219	463	-27
Repayment of Debt	-56	-151	-404	-201	-0.09	0.60	0.44	0.09
Repurchase of Common Equity	-7.71	-11	-	-	0.00	0.00	-64	-75
Other Financing Activities, net	13	7.50	-	507	86	218	527	48
Other Net Changes in Cash	-	-2.23	1.26	-3.92	-3.89	2.93	-6.75	7.48

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 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-12	-212	-310	-7.59	256	1,331	-1,105	-64	694	-193	873
Net Cash From Operating Activities	133	301	130	144	420	460	310	539	508	777	899
Net Cash From Continuing Operating Activities	133	301	130	144	420	460	310	539	508	777	899
Net Income / (Loss) Continuing Operations	73	97	106	136	149	77	218	329	477	612	876
Consolidated Net Income / (Loss)	73	97	106	136	149	77	218	329	477	612	876
Depreciation Expense	8.66	7.97	8.44	8.06	8.09	7.01	6.62	6.53	5.98	7.02	6.77
Non-Cash Adjustments To Reconcile Net Income	117	113	132	141	180	272	152	165	159	207	148
Changes in Operating Assets and Liabilities, net	-66	83	-117	-140	82	104	-66	39	-135	-49	-132
Net Cash From Investing Activities	-196	-569	-511	-149	-321	640	-1,390	-617	182	-958	-27
Net Cash From Continuing Investing Activities	-196	-569	-511	-149	-321	640	-1,390	-617	182	-958	-27
Purchase of Property, Plant & Equipment	-1.57	-4.86	-2.66	-2.88	-3.99	-3.11	-6.18	-7.63	-6.79	-13	-7.40
Purchase of Investments	-1,855	-845	-1,260	-524	-1,635	-1,977	-1,705	-942	-3,518	-1,611	-811
Sale and/or Maturity of Investments	1,660	229	752	382	1,318	2,622	351	302	3,708	666	792
Other Investing Activities, net	-	51	0.00	-	-	-1.62	-30	-	-	-	0.00
Net Cash From Financing Activities	51	51	75	-1.98	151	239	-29	6.45	6.44	-11	3.40
Net Cash From Continuing Financing Activities	51	51	75	-1.98	151	239	-29	6.45	6.44	-11	3.40
Repayment of Debt	0.38	-0.18	0.41	-0.31	-0.01	0.35	-95	-0.03	-0.01	0.03	-1.50
Other Financing Activities, net	51	51	84	16	170	257	67	25	26	8.27	4.90
Other Net Changes in Cash	-0.26	5.04	-4.02	-0.92	5.91	-7.71	3.98	7.54	-2.07	-1.97	-2.40

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	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,594	2,691	3,247	3,461	4,522	6,341	8,900
Total Current Assets	1,214	2,257	2,863	3,042	4,139	5,934	8,358
Cash & Equivalents	1,079	2,011	2,291	2,599	831	2,099	1,424
Short-Term Investments	-	-	234	35	2,843	3,131	5,753
Accounts Receivable	50	157	191	258	365	575	1,042
Prepaid Expenses	33	52	111	150	100	129	139
Plant, Property, & Equipment, net	32	30	31	69	48	40	52
Total Noncurrent Assets	348	404	353	350	336	367	490
Other Noncurrent Operating Assets	348	404	353	350	336	367	490
Total Liabilities & Shareholders' Equity	1,594	2,691	3,247	3,461	4,522	6,341	8,900
Total Liabilities	1,447	1,168	956	819	961	1,246	1,412
Total Current Liabilities	729	604	660	588	746	996	1,176
Accounts Payable	52	16	75	45	12	0.10	410
Customer Deposits	364	210	162	142	210	265	357
Current Deferred Revenue	186	190	228	183	247	260	409
Total Noncurrent Liabilities	719	564	296	231	215	250	237
Capital Lease Obligations	-	230	220	204	175	195	183
Noncurrent Deferred Revenue	77	51	40	9.97	28	40	46
Other Noncurrent Operating Liabilities	246	86	36	17	12	15	7.11
Total Equity & Noncontrolling Interests	-1,981	1,523	2,291	2,642	3,561	5,094	7,488
Total Preferred & Common Equity	-1,981	1,523	2,291	2,565	3,476	5,003	7,387
Total Common Equity	-1,981	1,523	2,291	2,565	3,476	5,003	7,387
Common Stock	1,858	6,491	7,779	8,430	9,124	10,196	10,936
Retained Earnings	-3,799	-4,965	-5,486	-5,859	-5,650	-5,187	-3,562
Accumulated Other Comprehensive Income / (Loss)	-0.70	-2.75	-2.35	-5.33	0.80	-5.61	14
Other Equity Adjustments	-	-	0.00	0.00	0.00	0.00	0.00
Noncontrolling Interest	-	-	0.00	77	85	91	101

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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	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	9/30/2025	3/31/2026
Total Assets	3,980	4,193	4,522	4,807	5,192	5,768	6,341	6,737	7,366	8,114	10,199
Total Current Assets	3,577	3,809	4,139	4,436	4,774	5,352	5,934	6,283	6,890	7,586	9,552
Cash & Equivalents	1,056	1,040	831	520	513	769	2,099	993	930	1,616	2,292
Short-Term Investments	2,047	2,243	2,843	3,348	3,486	3,796	3,131	4,437	5,071	4,822	5,735
Accounts Receivable	376	430	365	487	659	668	575	725	747	1,006	1,406
Prepaid Expenses	98	96	100	81	116	119	129	127	142	142	120
Plant, Property, & Equipment, net	54	50	48	47	43	40	40	40	44	46	56
Total Noncurrent Assets	349	334	336	324	375	376	367	415	432	482	592
Other Noncurrent Operating Assets	349	334	336	324	375	376	367	415	432	482	592
Total Liabilities & Shareholders' Equity	3,980	4,193	4,522	4,807	5,192	5,768	6,341	6,737	7,366	8,114	10,199
Total Liabilities	945	922	961	946	1,054	1,177	1,246	1,218	1,340	1,426	1,643
Total Current Liabilities	685	689	746	751	807	943	996	967	1,090	1,180	1,383
Accounts Payable	4.61	9.48	12	36	67	27	0.10	2.33	11	68	496
Customer Deposits	184	229	210	218	222	367	265	231	263	368	370
Current Deferred Revenue	260	224	247	237	278	237	260	319	377	317	517
Total Noncurrent Liabilities	260	233	215	195	247	233	250	251	250	245	260
Capital Lease Obligations	194	184	175	163	214	207	195	200	192	189	212
Noncurrent Deferred Revenue	50	35	28	21	16	7.83	40	36	45	44	41
Other Noncurrent Operating Liabilities	15	14	12	12	17	18	15	14	13	12	6.85
Total Equity & Noncontrolling Interests	3,035	3,272	3,561	3,861	4,138	4,591	5,094	5,519	6,026	6,688	8,556
Total Preferred & Common Equity	2,955	3,190	3,476	3,775	4,051	4,498	5,003	5,424	5,929	6,590	8,450
Total Common Equity	2,955	3,190	3,476	3,775	4,051	4,498	5,003	5,424	5,929	6,590	8,450
Common Stock	8,775	8,940	9,124	9,325	9,465	9,760	10,196	10,401	10,571	10,750	11,141
Retained Earnings	-5,815	-5,743	-5,650	-5,544	-5,410	-5,266	-5,187	-4,973	-4,647	-4,171	-2,692
Accumulated Other Comprehensive Income / (Loss)	-5.21	-7.21	0.80	-5.72	-4.94	4.93	-5.61	-2.99	4.72	12	0.60
Other Equity Adjustments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-	0.00
Noncontrolling Interest	80	82	85	86	87	93	91	95	97	98	107

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

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	24.71%	47.15%	41.11%	23.61%	16.75%	28.79%	56.18%
EBITDA Growth	0.00%	-0.53%	-103.81%	59.20%	23.91%	138.42%	134.98%	348.91%
EBIT Growth	0.00%	-0.23%	-101.89%	58.41%	21.61%	127.41%	179.74%	388.47%
NOPAT Growth	0.00%	7.54%	-103.61%	64.98%	60.78%	197.47%	169.95%	369.70%
Net Income Growth	0.00%	0.07%	-101.22%	55.39%	28.69%	158.58%	115.26%	249.34%
EPS Growth	0.00%	12.82%	-17.65%	77.50%	33.33%	150.00%	111.11%	231.58%
Operating Cash Flow Growth	0.00%	-323.50%	-79.53%	212.56%	-32.98%	218.31%	62.02%	84.98%
Free Cash Flow Firm Growth	0.00%	0.00%	-808.79%	74.41%	-12.05%	169.40%	14.64%	220.72%
Invested Capital Growth	0.00%	0.00%	83.30%	48.84%	523.77%	-70.90%	-3.80%	728.96%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	7.74%	4.14%	4.69%	8.28%	14.87%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	6.30%	29.39%	34.66%	-11.07%	57.83%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	6.07%	27.66%	50.11%	-11.86%	59.51%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	19.19%	20.32%	231.60%	-14.19%	66.61%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-1.53%	33.82%	41.20%	-4.09%	48.61%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-50.00%	35.71%	28.57%	-5.00%	50.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-624.85%	50.29%	-6.15%	45.41%	16.00%	17.44%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-25.10%	807.63%	5.22%	52.01%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	11.42%	108.22%	-64.03%	-74.51%	12.47%
Profitability Metrics	-	-	-	-	-	-	-	-
Gross Margin	72.22%	67.36%	67.74%	77.99%	78.56%	80.62%	80.25%	82.37%
EBITDA Margin	-94.74%	-76.36%	-105.77%	-30.58%	-18.83%	6.20%	11.31%	32.50%
Operating Margin	-104.71%	-77.63%	-107.41%	-26.66%	-8.46%	5.39%	10.83%	31.60%
EBIT Margin	-97.07%	-78.01%	-107.04%	-31.55%	-20.01%	4.70%	10.20%	31.91%
Profit (Net Income) Margin	-97.42%	-78.06%	-106.75%	-33.75%	-19.47%	9.77%	16.33%	36.52%
Tax Burden Percent	101.59%	102.18%	98.93%	106.53%	102.79%	91.68%	95.65%	98.63%
Interest Burden Percent	98.78%	97.92%	100.81%	100.42%	94.67%	226.84%	167.31%	116.05%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	8.32%	4.35%	1.37%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	-138.64%	79.97%	488.16%	503.40%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	-127.81%	76.35%	484.15%	499.40%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	123.59%	-72.96%	-477.34%	-477.41%
Return on Equity (ROE)	0.00%	-395.42%	-139.76%	-27.29%	-15.04%	7.01%	10.81%	25.98%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	-176.56%	189.81%	492.03%	346.45%
Operating Return on Assets (OROA)	0.00%	-36.34%	-54.59%	-16.38%	-11.37%	2.62%	5.38%	18.74%
Return on Assets (ROA)	0.00%	-36.36%	-54.45%	-17.53%	-11.06%	5.45%	8.61%	21.45%
Return on Common Equity (ROCE)	0.00%	5,342.76%	38.36%	-27.29%	-14.81%	6.82%	10.59%	25.59%
Return on Equity Simple (ROE_SIMPLE)	0.00%	29.27%	-76.61%	-22.71%	-14.47%	6.25%	9.35%	0.00%
Net Operating Profit after Tax (NOPAT)	-436	-404	-822	-288	-113	110	297	1,395
NOPAT Margin	-73.30%	-54.34%	-75.19%	-18.66%	-5.92%	4.94%	10.36%	31.16%
Net Nonoperating Expense Percent (NNEP)	0.00%	-47.92%	-29.27%	-11.74%	-10.83%	3.62%	4.01%	3.99%
Return On Investment Capital (ROIC_SIMPLE)	-	25.46%	-42.13%	-11.46%	-3.96%	2.94%	5.61%	18.18%
Cost of Revenue to Revenue	27.78%	32.64%	32.26%	22.01%	21.44%	19.38%	19.75%	17.63%
SG&A Expenses to Revenue	51.43%	43.22%	61.27%	39.66%	31.29%	23.57%	20.71%	14.70%
R&D to Revenue	47.94%	41.15%	51.31%	25.13%	18.87%	18.19%	17.72%	12.46%
Operating Expenses to Revenue	176.93%	144.99%	175.15%	104.65%	87.02%	75.23%	69.42%	50.77%
Earnings before Interest and Taxes (EBIT)	-578	-579	-1,170	-486	-381	105	292	1,428
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-564	-567	-1,156	-472	-359	138	324	1,454
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	26.95	15.94	5.21	10.75	34.43	57.35
Price to Tangible Book Value (P/TBV)	0.00	0.00	26.95	15.94	5.21	10.75	34.43	57.35
Price to Revenue (P/Rev)	3.38	2.71	37.55	23.68	7.01	16.79	60.12	94.66
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	178.06	372.76	260.71
Dividend Yield	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%	0.00%	0.56%	0.27%	0.38%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	51.64	547.53	2,805.60	842.90
Enterprise Value to Revenue (EV/Rev)	0.00	4.59	36.06	22.16	5.77	15.26	58.40	93.12
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	246.23	516.54	286.57
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	324.80	572.35	291.81
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	308.65	563.60	298.83
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	102.34	49.17	47.67	145.03	195.25
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	18.41	0.00	0.00	0.00	130.04	559.17	434.20
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	0.00	2.70	0.28	0.10	0.08	0.05	0.04	0.02
Long-Term Debt to Equity	0.00	2.70	0.28	0.10	0.08	0.05	0.04	0.02
Financial Leverage	0.00	-5.02	-1.41	-1.04	-0.97	-0.96	-0.99	-0.96
Leverage Ratio	0.00	10.87	2.57	1.56	1.36	1.29	1.26	1.21
Compound Leverage Factor	0.00	10.65	2.59	1.56	1.29	2.92	2.10	1.41
Debt to Total Capital	0.00%	72.99%	21.93%	8.77%	7.18%	4.69%	3.69%	2.39%
Short-Term Debt to Total Capital	0.00%	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%	2.39%
Preferred Equity to Total Capital	0.00%	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%	1.31%
Common Equity to Total Capital	0.00%	-364.99%	78.07%	91.23%	90.11%	93.02%	94.59%	96.30%
Debt to EBITDA	0.00	-0.70	-0.37	-0.47	-0.57	1.27	0.60	0.13
Net Debt to EBITDA	0.00	1.30	1.40	4.97	6.77	-25.38	-15.54	-4.81
Long-Term Debt to EBITDA	0.00	-0.70	-0.37	-0.47	-0.57	1.27	0.60	0.13
Debt to NOPAT	0.00	-0.98	-0.52	-0.77	-1.81	1.59	0.66	0.13
Net Debt to NOPAT	0.00	1.82	1.97	8.14	21.53	-31.81	-16.96	-5.01
Long-Term Debt to NOPAT	0.00	-0.98	-0.52	-0.77	-1.81	1.59	0.66	0.13
Altman Z-Score	0.00	-2.87	18.20	21.33	8.45	23.04	83.32	181.42
Noncontrolling Interest Sharing Ratio	0.00%	1,451.15%	127.44%	0.00%	1.56%	2.62%	2.04%	1.52%
Liquidity Ratios	-	-	-	-	-	-	-	-
Current Ratio	0.00	1.67	3.74	4.34	5.17	5.55	5.96	7.11
Quick Ratio	0.00	1.55	3.59	4.11	4.92	5.41	5.83	6.99
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	185	-1,312	-336	-376	261	299	960
Operating Cash Flow to CapEx	-575.06%	0.00%	-2,424.06%	2,643.95%	558.97%	4,712.07%	9,133.01%	6,299.73%
Free Cash Flow to Firm to Interest Expense	0.00	60.47	-92.79	-92.23	0.00	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	0.00
Operating Cash Flow Less CapEx to Interest Expense	-13.31	-25.58	-21.84	88.25	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.47	0.51	0.52	0.57	0.56	0.53	0.59
Accounts Receivable Turnover	0.00	14.76	10.54	8.87	8.48	7.14	6.10	5.54
Inventory Turnover	0.00	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	97.72
Accounts Payable Turnover	0.00	4.68	10.35	7.44	6.83	15.15	92.60	193.26
Days Sales Outstanding (DSO)	0.00	24.73	34.61	41.17	43.02	51.11	59.86	65.94
Days Inventory Outstanding (DIO)	0.00	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	1.89
Cash Conversion Cycle (CCC)	0.00	-53.18	-0.63	-7.90	-10.45	27.02	55.91	64.05
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	0.00	-589	-98	-50	213	62	60	494
Invested Capital Turnover	0.00	-2.52	-3.18	-20.76	23.42	16.18	47.11	16.15
Increase / (Decrease) in Invested Capital	0.00	-589	490	48	263	-151	-2.36	435
Enterprise Value (EV)	0.00	3,407	39,404	34,166	11,002	33,948	167,343	416,763
Market Capitalization	2,015	2,015	41,025	36,508	13,355	37,362	172,287	423,656
Book Value per Share	$0.00	($3.43)	$0.87	$1.14	$1.23	$1.60	$2.20	$3.10
Tangible Book Value per Share	$0.00	($3.43)	$0.87	$1.14	$1.23	$1.60	$2.20	$3.10
Total Capital	0.00	543	1,950	2,511	2,847	3,736	5,290	7,671
Total Debt	0.00	396	428	220	204	175	195	183
Total Long-Term Debt	0.00	396	428	220	204	175	195	183
Net Debt	0.00	-735	-1,621	-2,341	-2,429	-3,499	-5,035	-6,994
Capital Expenditures (CapEx)	6.78	-87	12	13	40	15	13	34
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-646	-395	-358	-180	-282	-292	5.55
Debt-free Net Working Capital (DFNWC)	0.00	486	1,654	2,203	2,454	3,393	4,938	7,183
Net Working Capital (NWC)	0.00	486	1,654	2,203	2,454	3,393	4,938	7,183
Net Nonoperating Expense (NNE)	144	176	345	233	258	-107	-171	-240
Net Nonoperating Obligations (NNO)	0.00	-735	-1,621	-2,341	-2,429	-3,499	-5,035	-6,994
Total Depreciation and Amortization (D&A)	14	12	14	15	23	33	32	26
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-86.96%	-36.15%	-23.24%	-9.45%	-12.66%	-10.18%	0.12%
Debt-free Net Working Capital to Revenue	0.00%	65.39%	151.34%	142.89%	128.74%	152.48%	172.34%	160.49%
Net Working Capital to Revenue	0.00%	65.39%	151.34%	142.89%	128.74%	152.48%	172.34%	160.49%
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($1.19)	($0.27)	($0.18)	$0.10	$0.21	$0.69
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	977.72M	1.92B	2.06B	2.15B	2.25B	2.37B
Adjusted Diluted Earnings per Share	$0.00	$0.00	($1.20)	($0.27)	($0.18)	$0.09	$0.19	$0.63
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	979.33M	1.92B	2.06B	2.30B	2.45B	2.57B
Adjusted Basic & Diluted Earnings per Share	$0.00	$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	2.39B
Normalized Net Operating Profit after Tax (NOPAT)	-436	-404	-822	-288	-113	110	297	1,395
Normalized NOPAT Margin	-73.30%	-54.34%	-75.19%	-18.66%	-5.92%	4.94%	10.36%	31.16%
Pre Tax Income Margin	-95.89%	-76.39%	-107.90%	-31.68%	-18.94%	10.66%	17.07%	37.03%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-168.02	-189.25	-82.72	-133.64	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-126.86	-131.82	-58.11	-79.05	0.00	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	0.00
NOPAT Less CapEx to Interest Expense	-128.83	-103.43	-58.97	-82.52	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%
Augmented Payout Ratio	-1.33%	-1.93%	0.00%	0.00%	0.00%	0.00%	13.72%	4.59%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2,391,675,711.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2,391,675,711.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.36
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	16.80%	19.61%	20.78%	27.15%	29.98%	36.03%	39.34%	48.01%	62.79%	70.00%	84.71%
EBITDA Growth	142.68%	131.28%	813.51%	1,157.03%	118.51%	-52.90%	136.77%	176.30%	277.23%	1,623.73%	361.83%
EBIT Growth	133.88%	171.18%	320,928.57%	35,368.16%	143.66%	-58.17%	156.59%	193.01%	300.59%	2,064.43%	375.61%
NOPAT Growth	184.34%	480.50%	1,948.16%	985.55%	192.82%	-82.42%	121.52%	162.58%	262.90%	5,268.62%	333.27%
Net Income Growth	159.28%	189.39%	453.87%	386.40%	103.35%	-20.61%	105.26%	142.36%	219.23%	694.96%	302.54%
EPS Growth	150.00%	100.00%	300.00%	500.00%	100.00%	-25.00%	100.00%	116.67%	200.00%	700.00%	325.00%
Operating Cash Flow Growth	183.52%	282.38%	-30.85%	59.87%	214.57%	52.85%	139.44%	273.99%	20.94%	68.86%	189.81%
Free Cash Flow Firm Growth	83.54%	175.62%	127.16%	-236.38%	237.74%	-93.89%	175.36%	419.00%	301.83%	919.33%	635.62%
Invested Capital Growth	68.47%	-70.90%	67.81%	180.65%	35.73%	-3.80%	84.57%	-38.51%	87.89%	728.96%	157.17%
Revenue Q/Q Growth	4.66%	8.99%	4.27%	6.90%	6.99%	14.06%	6.81%	13.56%	17.67%	19.11%	16.05%
EBITDA Q/Q Growth	536.60%	34.59%	3.65%	34.84%	10.66%	-70.99%	446.96%	57.35%	51.08%	32.57%	46.54%
EBIT Q/Q Growth	16,244.19%	43.14%	3.38%	39.77%	11.54%	-75.43%	569.77%	59.60%	52.49%	32.78%	47.17%
NOPAT Q/Q Growth	292.87%	63.44%	29.10%	30.94%	5.98%	-90.19%	1,527.00%	55.21%	46.46%	45.15%	31.31%
Net Income Q/Q Growth	163.49%	31.96%	9.45%	27.81%	10.16%	-48.48%	182.98%	50.92%	45.10%	28.29%	43.30%
EPS Q/Q Growth	200.00%	33.33%	0.00%	50.00%	0.00%	-50.00%	166.67%	62.50%	38.46%	33.33%	41.67%
Operating Cash Flow Q/Q Growth	47.95%	125.69%	-56.98%	11.27%	191.13%	9.66%	-32.60%	73.80%	-5.86%	53.11%	15.68%
Free Cash Flow Firm Q/Q Growth	11.13%	733.06%	-93.21%	-980.72%	136.39%	-71.90%	205.76%	920.31%	-54.16%	-28.72%	120.66%
Invested Capital Q/Q Growth	36.80%	-64.03%	152.06%	126.31%	-33.84%	-74.51%	383.62%	-24.60%	102.13%	12.47%	50.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	80.66%	82.14%	81.67%	81.04%	79.79%	78.91%	80.43%	80.78%	82.45%	84.65%	86.78%
EBITDA Margin	9.27%	11.45%	11.95%	15.07%	15.59%	3.97%	20.31%	28.14%	36.13%	40.21%	50.78%
Operating Margin	7.16%	10.82%	12.75%	15.53%	15.59%	1.33%	19.92%	26.83%	33.30%	40.90%	46.18%
EBIT Margin	7.72%	10.14%	10.62%	13.89%	14.48%	3.12%	19.56%	27.49%	35.62%	39.71%	50.36%
Profit (Net Income) Margin	13.16%	15.93%	16.72%	19.99%	20.58%	9.30%	24.63%	32.74%	40.37%	43.48%	53.68%
Tax Burden Percent	91.83%	91.21%	95.80%	96.31%	95.03%	95.53%	97.49%	98.92%	99.22%	98.43%	98.63%
Interest Burden Percent	185.52%	172.19%	164.35%	149.48%	149.62%	312.03%	129.18%	120.39%	114.20%	111.23%	108.08%
Effective Tax Rate	8.17%	8.79%	4.20%	3.69%	4.97%	4.47%	2.51%	1.08%	0.78%	1.57%	1.37%
Return on Invested Capital (ROIC)	101.78%	159.59%	228.62%	154.63%	193.01%	60.06%	272.02%	319.77%	382.17%	650.33%	461.93%
ROIC Less NNEP Spread (ROIC-NNEP)	100.42%	158.35%	227.72%	153.61%	191.89%	58.50%	270.99%	318.47%	380.53%	649.58%	459.89%
Return on Net Nonoperating Assets (RNNOA)	-95.54%	-151.33%	-219.20%	-143.34%	-181.97%	-57.68%	-258.14%	-300.57%	-357.81%	-620.97%	-426.23%
Return on Equity (ROE)	6.24%	8.27%	9.41%	11.29%	11.04%	2.38%	13.88%	19.19%	24.36%	29.36%	35.70%
Cash Return on Invested Capital (CROIC)	-26.86%	189.81%	96.17%	19.67%	139.98%	492.03%	116.22%	241.94%	187.48%	346.45%	293.78%
Operating Return on Assets (OROA)	4.37%	5.65%	5.84%	7.51%	7.69%	1.65%	10.56%	15.06%	20.00%	23.32%	31.07%
Return on Assets (ROA)	7.44%	8.88%	9.19%	10.81%	10.94%	4.90%	13.29%	17.94%	22.66%	25.53%	33.12%
Return on Common Equity (ROCE)	6.15%	8.05%	9.18%	11.03%	10.79%	2.33%	13.61%	18.85%	23.94%	28.91%	35.19%
Return on Equity Simple (ROE_SIMPLE)	4.83%	0.00%	8.06%	10.17%	10.85%	0.00%	10.68%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	37	60	77	101	108	11	172	266	390	566	744
NOPAT Margin	6.58%	9.87%	12.21%	14.96%	14.82%	1.27%	19.42%	26.54%	33.04%	40.26%	45.55%
Net Nonoperating Expense Percent (NNEP)	1.36%	1.24%	0.89%	1.02%	1.12%	1.56%	1.03%	1.30%	1.63%	0.75%	2.04%
Return On Investment Capital (ROIC_SIMPLE)	1.06%	1.61%	1.93%	2.33%	2.24%	0.20%	3.00%	4.28%	5.67%	7.38%	8.48%
Cost of Revenue to Revenue	19.34%	17.86%	18.33%	18.96%	20.21%	21.09%	19.57%	19.22%	17.55%	15.35%	13.22%
SG&A Expenses to Revenue	22.96%	20.92%	21.12%	20.44%	19.12%	22.01%	18.51%	16.20%	13.69%	12.07%	11.18%
R&D to Revenue	18.94%	17.96%	17.35%	16.04%	16.20%	20.72%	15.26%	13.45%	12.21%	10.20%	9.86%
Operating Expenses to Revenue	73.50%	71.33%	68.92%	65.51%	64.19%	77.57%	60.51%	53.95%	49.15%	43.75%	40.60%
Earnings before Interest and Taxes (EBIT)	43	62	67	94	105	26	173	276	421	559	822
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	52	70	76	102	113	33	179	282	427	566	829
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	10.79	10.75	13.26	13.93	18.52	34.43	36.49	54.26	65.67	57.35	41.40
Price to Tangible Book Value (P/TBV)	10.79	10.75	13.26	13.93	18.52	34.43	36.49	54.26	65.67	57.35	41.40
Price to Revenue (P/Rev)	16.20	16.79	21.45	22.75	31.48	60.12	63.55	93.50	111.07	94.66	66.97
Price to Earnings (P/E)	233.72	178.06	167.71	139.43	174.81	372.76	346.86	421.47	395.09	260.71	153.34
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	0.43%	0.56%	0.60%	0.72%	0.57%	0.27%	0.29%	0.24%	0.25%	0.38%	0.65%
Enterprise Value to Invested Capital (EV/IC)	182.21	547.53	297.22	149.03	337.82	2,805.60	668.42	1,452.91	970.42	842.90	461.21
Enterprise Value to Revenue (EV/Rev)	14.78	15.26	19.90	21.26	29.87	58.40	61.90	91.84	109.50	93.12	65.49
Enterprise Value to EBITDA (EV/EBITDA)	306.80	246.23	222.40	173.99	216.98	516.54	450.86	519.83	462.97	286.57	162.63
Enterprise Value to EBIT (EV/EBIT)	451.13	324.80	264.85	195.36	238.27	572.35	484.60	545.16	476.48	291.81	164.69
Enterprise Value to NOPAT (EV/NOPAT)	947.00	308.65	253.72	191.78	228.44	563.60	493.62	569.61	509.65	298.83	173.96
Enterprise Value to Operating Cash Flow (EV/OCF)	64.13	47.67	70.98	74.41	79.46	145.03	144.48	182.70	234.72	195.25	125.63
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	130.04	387.32	1,117.08	277.91	559.17	746.08	457.33	675.62	434.20	226.07
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.06	0.05	0.04	0.05	0.05	0.04	0.04	0.03	0.03	0.02	0.02
Long-Term Debt to Equity	0.06	0.05	0.04	0.05	0.05	0.04	0.04	0.03	0.03	0.02	0.02
Financial Leverage	-0.95	-0.96	-0.96	-0.93	-0.95	-0.99	-0.95	-0.94	-0.94	-0.96	-0.93
Leverage Ratio	1.33	1.29	1.27	1.28	1.27	1.26	1.23	1.24	1.23	1.21	1.20
Compound Leverage Factor	2.46	2.22	2.09	1.91	1.90	3.92	1.59	1.49	1.41	1.35	1.30
Debt to Total Capital	5.33%	4.69%	4.05%	4.92%	4.32%	3.69%	3.50%	3.09%	2.75%	2.39%	2.42%
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	5.33%	4.69%	4.05%	4.92%	4.32%	3.69%	3.50%	3.09%	2.75%	2.39%	2.42%
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	2.37%	2.29%	2.14%	2.01%	1.94%	1.72%	1.66%	1.55%	1.42%	1.31%	1.22%
Common Equity to Total Capital	92.30%	93.02%	93.81%	93.07%	93.74%	94.59%	94.84%	95.35%	95.83%	96.30%	96.37%
Debt to EBITDA	1.80	1.27	0.78	0.71	0.57	0.60	0.47	0.32	0.21	0.13	0.10
Net Debt to EBITDA	-30.27	-25.38	-17.74	-12.49	-11.96	-15.54	-12.23	-9.55	-6.78	-4.81	-3.71
Long-Term Debt to EBITDA	1.80	1.27	0.78	0.71	0.57	0.60	0.47	0.32	0.21	0.13	0.10
Debt to NOPAT	5.55	1.59	0.89	0.78	0.60	0.66	0.51	0.35	0.23	0.13	0.11
Net Debt to NOPAT	-93.44	-31.81	-20.24	-13.77	-12.59	-16.96	-13.39	-10.47	-7.46	-5.01	-3.97
Long-Term Debt to NOPAT	5.55	1.59	0.89	0.78	0.60	0.66	0.51	0.35	0.23	0.13	0.11
Altman Z-Score	21.93	23.00	31.60	32.10	42.64	83.19	97.98	144.69	183.01	181.09	129.14
Noncontrolling Interest Sharing Ratio	1.45%	2.62%	2.48%	2.33%	2.23%	2.04%	1.93%	1.81%	1.69%	1.52%	1.43%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.53	5.55	5.91	5.92	5.67	5.96	6.49	6.32	6.43	7.11	6.91
Quick Ratio	5.39	5.41	5.80	5.77	5.55	5.83	6.36	6.19	6.31	6.99	6.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-33	211	14	-126	46	13	39	403	185	132	290
Operating Cash Flow to CapEx	8,526.71%	6,196.95%	4,864.08%	5,008.23%	10,533.80%	14,820.57%	5,017.19%	7,063.81%	7,474.44%	5,856.65%	12,149.24%
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	0.56	0.55	0.54	0.53	0.53	0.54	0.55	0.56	0.59	0.62
Accounts Receivable Turnover	5.50	7.14	6.30	4.79	4.82	6.10	5.14	4.89	4.65	5.54	4.90
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	39.37	38.06	42.43	50.81	58.50	65.58	71.96	79.09	90.55	97.72	109.53
Accounts Payable Turnover	12.37	15.15	21.90	12.82	27.41	92.60	32.81	17.59	15.82	193.26	3.34
Days Sales Outstanding (DSO)	66.42	51.11	57.94	76.20	75.75	59.86	71.02	74.62	78.41	65.94	74.44
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)	29.50	24.09	16.67	28.46	13.32	3.94	11.13	20.75	23.07	1.89	109.30
Cash Conversion Cycle (CCC)	36.93	27.02	41.27	47.74	62.43	55.91	59.89	53.87	55.34	64.05	-34.86
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	172	62	156	354	234	60	288	217	440	494	742
Invested Capital Turnover	15.47	16.18	18.72	10.34	13.02	47.11	14.01	12.05	11.57	16.15	10.14
Increase / (Decrease) in Invested Capital	70	-151	63	228	62	-2.36	132	-136	206	435	453
Enterprise Value (EV)	31,412	33,948	46,451	52,710	79,044	167,343	192,812	315,992	426,612	416,763	342,147
Market Capitalization	34,429	37,362	50,070	56,407	83,308	172,287	197,948	321,703	432,763	423,656	349,854
Book Value per Share	$1.48	$1.60	$1.71	$1.82	$2.01	$2.20	$2.31	$2.51	$2.78	$3.10	$3.53
Tangible Book Value per Share	$1.48	$1.60	$1.71	$1.82	$2.01	$2.20	$2.31	$2.51	$2.78	$3.10	$3.53
Total Capital	3,456	3,736	4,024	4,352	4,799	5,290	5,719	6,218	6,877	7,671	8,768
Total Debt	184	175	163	214	207	195	200	192	189	183	212
Total Long-Term Debt	184	175	163	214	207	195	200	192	189	183	212
Net Debt	-3,100	-3,499	-3,705	-3,784	-4,357	-5,035	-5,231	-5,808	-6,249	-6,994	-7,814
Capital Expenditures (CapEx)	1.57	4.86	2.66	2.88	3.99	3.11	6.18	7.63	6.79	13	7.40
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-163	-282	-182	-32	-156	-292	-116	-200	-32	5.55	142
Debt-free Net Working Capital (DFNWC)	3,120	3,393	3,686	3,967	4,409	4,938	5,315	5,801	6,406	7,183	8,169
Net Working Capital (NWC)	3,120	3,393	3,686	3,967	4,409	4,938	5,315	5,801	6,406	7,183	8,169
Net Nonoperating Expense (NNE)	-37	-37	-29	-34	-42	-66	-46	-62	-87	-45	-133
Net Nonoperating Obligations (NNO)	-3,100	-3,499	-3,705	-3,784	-4,357	-5,035	-5,231	-5,808	-6,249	-6,994	-7,814
Total Depreciation and Amortization (D&A)	8.66	7.97	8.44	8.06	8.09	7.01	6.62	6.53	5.98	7.02	6.77
Debt-free, Cash-free Net Working Capital to Revenue	-7.67%	-12.66%	-7.81%	-1.29%	-5.90%	-10.18%	-3.71%	-5.80%	-0.82%	0.12%	2.72%
Debt-free Net Working Capital to Revenue	146.83%	152.48%	157.89%	160.01%	166.59%	172.34%	170.63%	168.60%	164.41%	160.49%	156.36%
Net Working Capital to Revenue	146.83%	152.48%	157.89%	160.01%	166.59%	172.34%	170.63%	168.60%	164.41%	160.49%	156.36%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.03	$0.05	$0.05	$0.06	$0.06	$0.04	$0.09	$0.14	$0.20	$0.26	$0.36
Adjusted Weighted Average Basic Shares Outstanding	2.16B	2.15B	2.21B	2.23B	2.25B	2.25B	2.35B	2.37B	2.38B	2.37B	2.39B
Adjusted Diluted Earnings per Share	$0.03	$0.04	$0.04	$0.06	$0.06	$0.03	$0.08	$0.13	$0.18	$0.24	$0.34
Adjusted Weighted Average Diluted Shares Outstanding	2.33B	2.30B	2.40B	2.41B	2.46B	2.45B	2.55B	2.56B	2.57B	2.57B	2.57B
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	2.18B	2.21B	2.23B	2.24B	2.28B	2.35B	2.36B	2.37B	2.38B	2.39B	2.40B
Normalized Net Operating Profit after Tax (NOPAT)	37	60	77	101	108	11	172	266	390	566	744
Normalized NOPAT Margin	6.58%	9.87%	12.21%	14.96%	14.82%	1.27%	19.42%	26.54%	33.04%	40.26%	45.55%
Pre Tax Income Margin	14.33%	17.46%	17.46%	20.76%	21.66%	9.73%	25.27%	33.09%	40.68%	44.17%	54.43%
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%	13.72%	12.63%	9.59%	6.76%	4.59%	0.00%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways from Palantir Technologies' four-year, quarterly financials, focusing on trends that may impact retail investors.

Q4 2025 net income attributable to common shareholders: $608,676,000. Basic earnings per share (EPS) 0.26, diluted EPS 0.24, signaling a strong quarterly profit per share
Q4 2025 operating income: $575,394,000 with an approximate operating margin of 40.9% on revenue of $1,406,802,000
Q4 2025 gross profit: $1,190,836,000 on $1,406,802,000 in revenue, yielding a gross margin around 84.6%
Q4 2025 revenue growth: up to $1,406,802,000 from $827,519,000 in Q4 2024 (roughly +70%), indicating accelerating top-line momentum
Q4 2025 net cash from continuing operating activities: $777,295,000, showing solid cash generation from core operations
As of 2025-Q3, total assets were about $8.11B with over $6.59B in equity and roughly $1.43B in liabilities, indicating a solid balance sheet and healthy equity cushion
Net cash from continuing investing activities in Q4 2025: $(957,831,000), driven largely by large investments purchases (about $1.61B) in that quarter; investing cash outflows are typical for growth initiatives
Capital lease obligations remained at modest levels (roughly $189M–$211M across recent quarters), representing a manageable lease liability footprint
Q4 2025 net change in cash & equivalents: $(193,401,000), reflecting a decline in cash despite strong operating cash flow, due to investing activities
Q4 2025 net cash from financing activities: $(10,898,000), a small cash outflow that, alongside investing outflows, contributed to a negative quarterly overall cash movement

05/14/26 11:07 PM ETAI Generated. May Contain Errors.

Palantir Technologies Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Palantir Technologies' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Palantir Technologies' net income appears to be on a downward trend, with a most recent value of $1.63 billion in 2025, falling from -$580.03 million in 2018. The previous period was $467.92 million in 2024. See where experts think Palantir Technologies is headed by visiting Palantir Technologies' forecast page.

Palantir Technologies' total operating income in 2025 was $1.41 billion, based on the following breakdown:

Total Gross Profit: $3.69 billion
Total Operating Expenses: $2.27 billion

Over the last 7 years, Palantir Technologies' total revenue changed from $595.41 million in 2018 to $4.48 billion in 2025, a change of 651.7%.

Palantir Technologies' total liabilities were at $1.41 billion at the end of 2025, a 13.3% increase from 2024, and a 2.4% decrease since 2019.

In the past 6 years, Palantir Technologies' cash and equivalents has ranged from $831.05 million in 2023 to $2.60 billion in 2022, and is currently $1.42 billion as of their latest financial filing in 2025.

Over the last 7 years, Palantir Technologies' book value per share changed from 0.00 in 2018 to 3.10 in 2025, a change of 309.9%.

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Financial statements for NASDAQ:PLTR last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Palantir Technologies (PLTR) Financials

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Palantir Technologies (PLTR) Financials

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Palantir Technologies Financials - Frequently Asked Questions

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