Overview
Palantir Technologies Inc.
Latest 10-K: FY2025, filed Feb 17, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $4.48B
- 56.2%YoYup from FY2024
- TotalRevenue
- Gross profit
- $3.69B
- 60.3%YoYup from FY2024
- GrossProfit
- Operating income
- $1.41B
- 355.5%YoYup from FY2024
- OperatingIncome
- Net income
- $1.63B
- 251.6%YoYup from FY2024
- NetIncome
- Diluted EPS
- $0.63
- 231.6%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 2.57B
- 4.7%YoYup from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- Palantir Technologies Inc. reported revenue of $4.48B for fiscal 2025, up 56.2% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 5 of the last 5 fiscal years.
Profitability
- Operating margin was 31.6% and net margin was 36.3%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $0.63, up 231.6% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 30, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $4.48B56.2%up Benchmark median 6.4% | $2.87B28.8%up Benchmark median 4.5% | $2.23B16.7%up Benchmark median 4.8% | $1.91B23.6%up Benchmark median 10.3% | $1.54B41.1%up Benchmark median 13.8% | 30.5% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $3.69B60.3%up Benchmark median 6.8% | $2.30B28.2%up Benchmark median 5.5% | $1.79B19.8%up Benchmark median 5.2% | $1.50B24.5%up Benchmark median 8.3% | $1.20B62.5%up Benchmark median 15.7% | 32.3% Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $1.41B355.5%up Benchmark median 7.3% | $0.31B158.7%up Benchmark median 7.4% | $0.12Bn/m Benchmark median 4.9% | negative: -$0.16Bn/m Benchmark median 7.5% | negative: -$0.41Bn/m Benchmark median 23.5% | n/m Benchmark median 7.2% |
| Net Income | $1.63B251.6%up Benchmark median 4.8% | $0.46B120.3%up Benchmark median 5.7% | $0.21Bn/m Benchmark median 1.9% | negative: -$0.37Bn/m Benchmark median 1.3% | negative: -$0.52Bn/m Benchmark median 33.9% | n/m Benchmark median 4.1% |
| EPS (Diluted) | $0.63231.6%up Benchmark median 6.2% | $0.19111.1%up Benchmark median 7.9% | $0.09n/m Benchmark median 1.9% | negative: -$0.18n/m Benchmark median 1.5% | negative: -$0.27‡n/m Benchmark median 34.8% | n/m Benchmark median 5.6% |
‡ Share basis changed between these years (stock split or reverse split).
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $8.90B40.4%up Benchmark median 5.6% | $6.34B40.2%up Benchmark median 3.4% | $4.52B30.7%up Benchmark median 4.1% | $3.46B6.6%up Benchmark median 2.2% | $3.25B20.7%up Benchmark median 6.7% | 28.7% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $1.41B13.3%up Benchmark median 6.4% | $1.25B29.6%up Benchmark median 1.9% | $0.96B17.4%up Benchmark median 2.9% | $0.82B14.4%down Benchmark median 2.0% | $0.96B18.1%down Benchmark median 5.2% | 10.2% Benchmark median 4.4% |
| Stockholders' Equity | $7.49B47.0%up Benchmark median 6.8% | $5.09B43.1%up Benchmark median 5.4% | $3.56B34.8%up Benchmark median 7.3% | $2.64B15.3%up Benchmark median 2.5% | $2.29B50.5%up Benchmark median 9.0% | 34.5% Benchmark median 6.1% |
| Cash & Equivalents | $1.42B32.2%down Benchmark median 5.2% | $2.10B152.5%up Benchmark median 1.9% | $0.83B68.0%down Benchmark median 6.7% | $2.60B13.4%up Benchmark median -8.6% | $2.29B13.9%up Benchmark median -2.9% | -11.2% Benchmark median 2.0% |
| Total Debt | — | — | — | — | $0.00M†100.0%down Benchmark median -0.1% | — Benchmark median 4.3% |
† Sum of short-term and long-term debt; the company files no total-debt line.
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.13B85.0%up Benchmark median 6.3% | $1.15B62.0%up Benchmark median 4.8% | $0.71B218.3%up Benchmark median 9.9% | $0.22B33.0%down Benchmark median -0.7% | $0.33Bn/m Benchmark median 10.7% | 59.0% Benchmark median 7.0% |
| Capital Expenditures | $33.88M168.2%up Benchmark median 5.4% | $12.63M16.4%down Benchmark median 2.8% | $15.11M62.2%down Benchmark median 11.3% | $40.03M217.0%up Benchmark median 14.0% | $12.63M3.2%up Benchmark median 8.1% | 28.0% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $2.10B84.1%up Benchmark median 7.3% | $1.14B63.7%up Benchmark median 6.1% | $0.70B279.4%up Benchmark median 8.8% | $0.18B42.8%down Benchmark median -11.3% | $0.32Bn/m Benchmark median 10.2% | 59.9% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
0.4%
Wall Street
on net earnings
FY2024 0.3%
0.5%
Value investor
on free cash flow
FY2024 0.6%
Gap +0.1 pts: Value-investor figure 0.1 points higher
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 282.1×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Book yield
Net assets behind a dollar of market value
1.6%
Wall Street
on book equity
FY2024 2.8%
1.6%
Value investor
on tangible book
FY2024 2.7%
Gap Same: Both views read the same
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 60.9×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
25.8%
Wall Street
ROE: net income ÷ equity
FY2024 10.7%
255.6%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 259.4%
Gap +229.8 pts: Value-investor figure 229.8 points higher
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
32.2%
Wall Street
EBITDA margin
FY2024 11.9%
46.9%
Value investor
Free-cash-flow margin
FY2024 39.8%
Gap +14.7 pts: Value-investor figure 14.7 points higher
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
7.11×
Wall Street
Current ratio
FY2024 5.96×
7.11×
Value investor
Quick ratio, inventory excluded
FY2024 5.96×
Gap Same: Both views read the same
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on PLTR yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on PLTR and publish the result to your public profile.
Cite this page
Data as of Oct 30, 2026. Canonical address: https://valuein.biz/data/PLTR
Valuein. (2026, October 30). Palantir Technologies Inc. (PLTR) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/PLTR
@misc{valuein_pltr_2026,
author = {{Valuein}},
title = {Palantir Technologies Inc. (PLTR) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/PLTR}},
note = {Data as of 2026-10-30; source: SEC EDGAR filings}
}10-K filed Feb 17, 2026 · accession 0001321655-26-000011
Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.
point-in-time · survivorship-free · every number traceable to its SEC filing
Index names are trademarks of their owners; Valuein is not affiliated with or endorsed by any index provider.