Palantir Technologies Inc. (PLTR) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PLTR SEC filings page.
Palantir Technologies Inc. (PLTR) reported $6.2B in revenue over the twelve months to Jun 30, 2026, up 78.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Palantir's expansion is increasingly self-financed: revenue is scaling while margins widen and operating cash flow exceeds reported profit.
Over the two latest fiscal years, operating margin nearly tripled as revenue accelerated, showing that growth is dropping through to earnings rather than being absorbed by costs. In FY2025, operating cash flow of$2.1B exceeded net income of$1.6B , indicating profits were converting into cash rather than depending on non-cash accounting gains.
Gross margin remained above
Capital expenditures were only
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Palantir Technologies Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Palantir Technologies Inc. has an operating margin of 31.6%, meaning the company retains $32 of operating profit per $100 of revenue. This results in a moderate score of 62/100, indicating healthy but not exceptional operating efficiency. This is up from 10.8% the prior year.
Palantir Technologies Inc.'s revenue surged 56.2% year-over-year to $4.5B, reflecting rapid business expansion. This strong growth earns a score of 93/100.
Palantir Technologies Inc. carries a low D/E ratio of 0.19, meaning only $0.19 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 75/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 7.11, Palantir Technologies Inc. holds $7.11 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 95/100.
Palantir Technologies Inc. converts 46.9% of revenue into free cash flow ($2.1B). This strong cash generation earns a score of 97/100.
Palantir Technologies Inc.'s ROE of 22.0% shows moderate profitability relative to equity, earning a score of 52/100. This is up from 9.2% the prior year.
Palantir Technologies Inc. scores 197.51, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($461.6B) relative to total liabilities ($1.4B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Palantir Technologies Inc. passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Palantir Technologies Inc. generates $1.31 in operating cash flow ($2.1B OCF vs $1.6B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Palantir Technologies Inc. generated $1.9B in revenue in Q2 2026. This represents an increase of 92.8% from the same quarter a year earlier. Against the prior quarter it is up 18.6%.
Palantir Technologies Inc.'s EBITDA was $920.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 235.0% from the same quarter a year earlier. Against the prior quarter it is up 21.0%.
Palantir Technologies Inc. reported $1.1B in net income in Q2 2026. This represents an increase of 225.0% from the same quarter a year earlier. Against the prior quarter it is up 22.0%.
Palantir Technologies Inc. earned $0.41 per diluted share (EPS) in Q2 2026. This represents an increase of 215.4% from the same quarter a year earlier. Against the prior quarter it is up 20.6%.
Cash & Balance Sheet
Palantir Technologies Inc. generated $1.2B in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 126.0% from the same quarter a year earlier. Against the prior quarter it is up 34.7%.
Palantir Technologies Inc. held $2.0B in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Palantir Technologies Inc.'s gross margin was 84.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 3.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.1 percentage points.
Palantir Technologies Inc.'s operating margin was 47.1% in Q2 2026, reflecting core business profitability. This is up 20.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.
Palantir Technologies Inc.'s net profit margin was 54.9% in Q2 2026, showing the share of revenue converted to profit. This is up 22.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.5 percentage points.
Palantir Technologies Inc.'s ROE was 10.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 5.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.
Capital Allocation
Palantir Technologies Inc. invested $192.5M in research and development in Q2 2026. This represents an increase of 42.6% from the same quarter a year earlier. Against the prior quarter it is up 19.6%.
Palantir Technologies Inc. invested $14.6M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 90.6% from the same quarter a year earlier. Against the prior quarter it is up 96.6%.
Not reported for Q2 2026.
PLTR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.9B+92.8% | $1.6B+84.7% | $1.4B+70.0% | $1.2B+62.8% | $1.0B+48.0% | $883.9M+39.3% | $827.5M+36.0% | $725.5M+30.0% |
| Cost of Revenue | $296.9M+53.9% | $215.8M+24.8% | $216.0M+23.7% | $207.3M+41.4% | $192.9M+50.1% | $173.0M+48.8% | $174.5M+60.7% | $146.6M+35.9% |
| Gross Profit | $1.6B+102.1% | $1.4B+99.3% | $1.2B+82.4% | $973.8M+68.2% | $810.8M+47.5% | $710.9M+37.2% | $653.0M+30.7% | $578.9M+28.6% |
| R&D Expenses | $192.5M+42.6% | $161.0M+19.3% | $143.6M-16.3% | $144.2M+22.7% | $135.0M+24.1% | $134.9M+22.6% | $171.5M+56.9% | $117.6M+11.2% |
| SG&A Expenses | $194.6M+19.7% | $182.6M+11.6% | $169.8M-6.8% | $161.7M+16.6% | $162.6M+17.3% | $163.6M+22.1% | $182.1M+43.1% | $138.7M+8.2% |
| Operating Income | $912.0M+238.6% | $754.0M+328.3% | $575.4M+5110.5% | $393.3M+247.6% | $269.3M+155.7% | $176.0M+117.7% | $11.0M-83.2% | $113.1M+183.0% |
| EBITDA | $920.2M+235.0% | $760.8M+316.5% | $584.7M+2546.7% | $398.1M+233.8% | $274.7M+146.7% | $182.7M+104.5% | $22.1M-71.9% | $119.2M+157.6% |
| Income Tax | $15.4M+327.8% | $12.2M+117.9% | $9.8M+171.4% | $3.8M-51.9% | $3.6M-30.7% | $5.6M+20.3% | $3.6M-61.4% | $7.8M+19.6% |
| Net Income | $1.1B+225.0% | $870.5M+306.7% | $608.7M+670.4% | $475.6M+231.4% | $326.7M+143.6% | $214.0M+102.8% | $79.0M-15.4% | $143.5M+100.7% |
| EPS (Basic) | $0.44+214.3% | $0.36+300.0% | $0.26+550.0% | $0.20+233.3% | $0.14+133.3% | $0.09+80.0% | $0.04-20.0% | $0.06+100.0% |
| EPS (Diluted) | $0.41+215.4% | $0.34+325.0% | $0.23+666.7% | $0.18+200.0% | $0.13+116.7% | $0.08+100.0% | $0.03-25.0% | $0.06+100.0% |
| Diluted Shares (Avg) | 2.57B+0.2% | 2.57B+0.7% | N/A | 2.57B+4.5% | 2.56B+6.1% | 2.55B+6.4% | N/A | 2.46B+5.8% |
Not reported in any period shown, so not listed: Interest Expense.
PLTR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $11.7B+58.6% | $10.2B+51.4% | $8.9B+40.4% | $8.1B+40.7% | $7.4B+41.9% | $6.7B+40.1% | $6.3B+40.2% | $5.8B+37.6% |
| Current Assets | $11.1B+61.1% | $9.6B+52.0% | $8.4B+40.8% | $7.6B+41.7% | $6.9B+44.3% | $6.3B+41.6% | $5.9B+43.4% | $5.4B+40.5% |
| Cash & Equivalents | $2.0B+118.4% | $2.3B+130.7% | $1.4B-32.2% | $1.6B+110.2% | $929.5M+81.3% | $993.5M+90.9% | $2.1B+152.5% | $768.7M-26.1% |
| Short-Term Investments | $7.4B+45.5% | $5.7B+29.2% | $5.8B+83.7% | $4.8B+27.0% | $5.1B+45.5% | $4.4B+32.6% | $3.1B+10.1% | $3.8B+69.2% |
| Accounts Receivable | $1.5B+98.7% | $1.4B+93.8% | $1.0B+81.2% | $1.0B+50.6% | $747.5M+13.4% | $725.2M+48.9% | $575.0M+57.6% | $668.1M+55.3% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.8B+33.8% | $1.6B+34.9% | $1.4B+13.3% | $1.4B+21.2% | $1.3B+27.1% | $1.2B+28.8% | $1.2B+29.6% | $1.2B+27.7% |
| Current Liabilities | $1.5B+40.9% | $1.4B+42.9% | $1.2B+18.0% | $1.2B+25.1% | $1.1B+35.0% | $967.4M+28.9% | $996.0M+33.5% | $943.5M+36.9% |
| Non-Current Liabilities | $258.1M+3.0% | $260.0M+3.8% | $236.8M-5.5% | $245.3M+5.1% | $250.5M+1.3% | $250.5M+28.2% | $250.5M+16.3% | $233.3M+0.3% |
| Total Equity | $9.8B+64.9% | $8.4B+55.8% | $7.4B+47.6% | $6.6B+46.5% | $5.9B+46.4% | $5.4B+43.7% | $5.0B+44.0% | $4.5B+41.0% |
| Retained Earnings | -$1.6B+64.9% | -$2.7B+45.9% | -$3.6B+31.3% | -$4.2B+20.8% | -$4.6B+14.1% | -$5.0B+10.3% | -$5.2B+8.2% | -$5.3B+8.3% |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
PLTR Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.2B+125.5% | $899.2M+189.8% | $777.3M+68.9% | $507.7M+20.9% | $539.3M+274.0% | $310.3M+139.4% | $460.3M+52.8% | $419.8M+214.6% |
| Depreciation & Amortization | $8.2M+52.2% | $6.8M+2.2% | $7.0M+0.2% | $4.8M-21.3% | $5.4M-10.0% | $6.6M-21.5% | $7.0M-12.1% | $6.1M-3.2% |
| Stock-Based Compensation | $265.2M+65.8% | $201.6M+29.8% | N/A | $172.3M+21.0% | $160.0M+12.8% | $155.3M+23.6% | N/A | $142.4M+24.5% |
| Capital Expenditures | $14.6M+90.6% | $7.4M+19.7% | $13.3M+327.3% | $6.8M+70.4% | $7.6M+165.2% | $6.2M+132.1% | $3.1M-36.1% | $4.0M+154.6% |
| Free Cash Flow | $1.2B+126.0% | $891.8M+193.3% | $764.0M+67.1% | $500.9M+20.5% | $531.6M+276.2% | $304.1M+139.6% | $457.2M+54.3% | $415.8M+215.3% |
| Investing Cash Flow | -$1.5B-140.3% | -$26.7M+98.1% | -$957.8M-249.6% | $181.6M+156.6% | -$617.0M-314.4% | -$1.4B-171.9% | $640.2M+212.5% | -$320.7M-63.4% |
| Financing Cash Flow | $5.0M-22.8% | $3.4M+111.8% | -$10.9M-104.6% | $6.4M-95.8% | $6.5M+426.6% | -$28.9M-138.4% | $238.7M+365.8% | $151.4M+197.3% |
| Share Buybacks | N/A | N/A | $19.2M+3.2% | $19.2M+1.6% | $18.6M+5.1% | $18.0M+100.0% | $18.6M | $18.9M |
Not reported in any period shown, so not listed: Dividends Paid.
PLTR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 84.7%+3.9pp | 86.8%+6.3pp | 84.7%+5.7pp | 82.5%+2.7pp | 80.8%-0.3pp | 80.4%-1.2pp | 78.9%-3.2pp | 79.8%-0.9pp |
| Operating Margin | 47.1%+20.3pp | 46.2%+26.3pp | 40.9%+39.6pp | 33.3%+17.7pp | 26.8%+11.3pp | 19.9%+7.2pp | 1.3%-9.5pp | 15.6%+8.4pp |
| Net Margin | 54.9%+22.3pp | 53.3%+29.1pp | 43.3%+33.7pp | 40.3%+20.5pp | 32.6%+12.8pp | 24.2%+7.6pp | 9.6%-5.8pp | 19.8%+7.0pp |
| Return on Equity | 10.9%+5.3pp | 10.3%+6.3pp | 8.2%+6.7pp | 7.2%+4.0pp | 5.5%+2.2pp | 4.0%+1.1pp | 1.6%-1.1pp | 3.2%+0.9pp |
| Return on Assets | 9.1%+4.6pp | 8.5%+5.4pp | 6.8%+5.6pp | 5.9%+3.4pp | 4.4%+1.9pp | 3.2%+1.0pp | 1.3%-0.8pp | 2.5%+0.8pp |
| Current Ratio | 7.23+0.9x | 6.91+0.4x | 7.11+1.2x | 6.43+0.8x | 6.32+0.4x | 6.49+0.6x | 5.96+0.4x | 5.67+0.1x |
| Debt-to-Equity | 0.180.0x | 0.190.0x | 0.19-0.1x | 0.220.0x | 0.230.0x | 0.220.0x | 0.250.0x | 0.260.0x |
| Asset Turnover | 0.170.0x | 0.160.0x | 0.160.0x | 0.150.0x | 0.140.0x | 0.130.0x | 0.130.0x | 0.130.0x |
| FCF Margin | 62.1%+9.1pp | 54.6%+20.2pp | 54.3%-0.9pp | 42.4%-14.9pp | 53.0%+32.1pp | 34.4%+14.4pp | 55.3%+6.5pp | 57.3%+33.7pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Palantir Technologies Inc. PLTR | FY2025 | $4.5B | $1.6B | 36.3% | $461.6B | 79/100 |
| Oracle Corp ORCL | FY2026 | $67.4B | $17.0B | 25.2% | $431.4B | 48/100 |
| Microsoft Corp MSFT | FY2026 | $331.8B | $133.7B | 40.3% | $3.8T | 79/100 |
| Palo Alto Networks, Inc. PANW | FY2026 | $11.5B | $307.0M | 2.7% | $329.9B | 57/100 |
| CrowdStrike Holdings CRWD | FY2026 | $4.8B | -$161.2M | -3.4% | $276.5B | 63/100 |
| Synopsys Inc SNPS | FY2025 | $7.1B | $1.3B | 18.9% | $93.9B | 57/100 |
Where Palantir Technologies Inc. Ranks
Frequently Asked Questions
What is Palantir Technologies Inc.'s annual revenue?
Palantir Technologies Inc. (PLTR) reported $4.5B in total revenue for fiscal year 2025. This represents a 56.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Palantir Technologies Inc.'s revenue growing?
Palantir Technologies Inc. (PLTR) revenue grew by 56.2% year-over-year, from $2.9B to $4.5B in fiscal year 2025.
Is Palantir Technologies Inc. profitable?
Yes, Palantir Technologies Inc. (PLTR) reported a net income of $1.6B in fiscal year 2025, with a net profit margin of 36.3%.
What is Palantir Technologies Inc.'s EBITDA?
Palantir Technologies Inc. (PLTR) had EBITDA of $1.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Palantir Technologies Inc.'s gross margin?
Palantir Technologies Inc. (PLTR) had a gross margin of 82.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Palantir Technologies Inc.'s operating margin?
Palantir Technologies Inc. (PLTR) had an operating margin of 31.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Palantir Technologies Inc.'s net profit margin?
Palantir Technologies Inc. (PLTR) had a net profit margin of 36.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Palantir Technologies Inc.'s return on equity (ROE)?
Palantir Technologies Inc. (PLTR) has a return on equity of 22.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Palantir Technologies Inc.'s free cash flow?
Palantir Technologies Inc. (PLTR) generated $2.1B in free cash flow during fiscal year 2025. This represents a 84.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Palantir Technologies Inc.'s operating cash flow?
Palantir Technologies Inc. (PLTR) generated $2.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Palantir Technologies Inc.'s total assets?
Palantir Technologies Inc. (PLTR) had $8.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Palantir Technologies Inc.'s capital expenditures?
Palantir Technologies Inc. (PLTR) invested $33.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Palantir Technologies Inc. spend on research and development?
Palantir Technologies Inc. (PLTR) invested $557.7M in research and development during fiscal year 2025.
What is Palantir Technologies Inc.'s current ratio?
Palantir Technologies Inc. (PLTR) had a current ratio of 7.11 as of fiscal year 2025, which is generally considered healthy.
What is Palantir Technologies Inc.'s debt-to-equity ratio?
Palantir Technologies Inc. (PLTR) had a debt-to-equity ratio of 0.19 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Palantir Technologies Inc.'s return on assets (ROA)?
Palantir Technologies Inc. (PLTR) had a return on assets of 18.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Palantir Technologies Inc.'s P/E ratio?
Palantir Technologies Inc. (PLTR) trades at 153x earnings, its market capitalization divided by net income of $3.0B net income, trailing 12 months to June 30, 2026. The market capitalization is $461.6B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Palantir Technologies Inc.'s price-to-sales ratio?
Palantir Technologies Inc. (PLTR) trades at 75.0x sales, its market capitalization divided by revenue of $6.2B revenue, trailing 12 months to June 30, 2026. The market capitalization is $461.6B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Palantir Technologies Inc.'s Altman Z-Score?
Palantir Technologies Inc. (PLTR) has an Altman Z-Score of 197.51, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Palantir Technologies Inc.'s Piotroski F-Score?
Palantir Technologies Inc. (PLTR) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Palantir Technologies Inc.'s earnings high quality?
Palantir Technologies Inc. (PLTR) has an earnings quality ratio of 1.31x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Palantir Technologies Inc.?
Palantir Technologies Inc. (PLTR) scores 79 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.