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Palantir Technologies

PLTR Clue Score75
United States Fiscal year ends December CIK 0001321655
$209.05 +5.17% Close, 9 Oct 2026
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Price $209.05 +788.44% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 30 Sep 2020. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2018Revenue595.4Operating income−623.4Net income−580.0EPS, diluted−1.17Fiscal year 2019Revenue742.6 +24.7%Operating income−576.4Net income−579.6EPS, diluted−1.02Fiscal year 2020Revenue1,092.7 +47.2%Operating income−1,173.7Net income−1,166.4EPS, diluted−1.20Fiscal year 2021Revenue1,541.9 +41.1%Operating income−411.0Net income−520.4EPS, diluted−0.27Fiscal year 2022Revenue1,905.9 +23.6%Operating income−161.2Net income−373.7EPS, diluted−0.18Fiscal year 2023Revenue2,225.0 +16.7%Operating income120.0Net income209.8EPS, diluted0.09Fiscal year 2024Revenue2,865.5 +28.8%Operating income310.4Net income462.2 +120.3%EPS, diluted0.19Fiscal year 2025Revenue4,475.4 +56.2%Operating income1,414.0Net income1,625.0 +251.6%EPS, diluted0.63
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 595.4 742.6 1,092.7 1,541.9 1,905.9 2,225.0 2,865.5 4,475.4
Growth +24.7% +47.2% +41.1% +23.6% +16.7% +28.8% +56.2%
Operating income −623.4 −576.4 −1,173.7 −411.0 −161.2 120.0 310.4 1,414.0
Net income −580.0 −579.6 −1,166.4 −520.4 −373.7 209.8 462.2 1,625.0
Growth +120.3% +251.6%
EPS, diluted −1.17 −1.02 −1.20 −0.27 −0.18 0.09 0.19 0.63

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2018Gross margin72.2%Operating margin−104.7%Net margin−97.4%Free cash flow margin−8.7%Fiscal year 2019Gross margin67.4%Operating margin−77.6%Net margin−78.1%Free cash flow margin−24.0%Fiscal year 2020Gross margin67.7%Operating margin−107.4%Net margin−106.7%Free cash flow margin−28.3%Fiscal year 2021Gross margin78.0%Operating margin−26.7%Net margin−33.7%Free cash flow margin20.8%Fiscal year 2022Gross margin78.6%Operating margin−8.5%Net margin−19.6%Free cash flow margin9.6%Fiscal year 2023Gross margin80.6%Operating margin5.4%Net margin9.4%Free cash flow margin31.3%Fiscal year 2024Gross margin80.2%Operating margin10.8%Net margin16.1%Free cash flow margin39.8%Fiscal year 2025Gross margin82.4%Operating margin31.6%Net margin36.3%Free cash flow margin46.9%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 72.2% 67.4% 67.7% 78.0% 78.6% 80.6% 80.2% 82.4%
Operating margin −104.7% −77.6% −107.4% −26.7% −8.5% 5.4% 10.8% 31.6%
Net margin −97.4% −78.1% −106.7% −33.7% −19.6% 9.4% 16.1% 36.3%
Free cash flow margin −8.7% −24.0% −28.3% 20.8% 9.6% 31.3% 39.8% 46.9%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2018Operating cash flow−39.0Capital expenditure−13.0Free cash flow−52.0Buybacks−7.7Fiscal year 2019Operating cash flow−165.2Capital expenditure−13.1Free cash flow−178.3Buybacks−11.2Fiscal year 2020Operating cash flow−296.6Capital expenditure−12.2Free cash flow−308.8Buybacks−3.8Fiscal year 2021Operating cash flow333.9Capital expenditure−12.6Free cash flow321.2Buybacks0.0Fiscal year 2022Operating cash flow223.7Capital expenditure−40.0Free cash flow183.7 −42.8%Buybacks0.0Fiscal year 2023Operating cash flow712.2Capital expenditure−15.1Free cash flow697.1 +279.4%Buybacks0.0Fiscal year 2024Operating cash flow1,153.9Capital expenditure−12.6Free cash flow1,141.2 +63.7%Buybacks−64.2Fiscal year 2025Operating cash flow2,134.5Capital expenditure−33.9Free cash flow2,100.6 +84.1%Buybacks−75.0
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −39.0 −165.2 −296.6 333.9 223.7 712.2 1,153.9 2,134.5
Capital expenditure −13.0 −13.1 −12.2 −12.6 −40.0 −15.1 −12.6 −33.9
Free cash flow −52.0 −178.3 −308.8 321.2 183.7 697.1 1,141.2 2,100.6
Growth −42.8% +279.4% +63.7% +84.1%
Buybacks −7.7 −11.2 −3.8 0.0 0.0 0.0 −64.2 −75.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2018Cash1,116.3Shareholders’ equity−1,751.4Fiscal year 2019Cash1,079.2Total debt396.1Net cash (debt)683.1Shareholders’ equity−1,980.6Fiscal year 2020Cash2,011.3Total debt198.0Net cash (debt)1,813.3Shareholders’ equity1,522.6Debt to equity0.13Fiscal year 2021Cash2,290.7Total debt0.0Net cash (debt)2,290.7Shareholders’ equity2,291.0Debt to equity0.00Fiscal year 2022Cash2,598.5Shareholders’ equity2,565.3Fiscal year 2023Cash831.0Shareholders’ equity3,475.6Fiscal year 2024Cash2,098.5Shareholders’ equity5,003.3Fiscal year 2025Cash1,423.8Shareholders’ equity7,387.3
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 1,116.3 1,079.2 2,011.3 2,290.7 2,598.5 831.0 2,098.5 1,423.8
Total debt n/a 396.1 198.0 0.0 n/a n/a n/a n/a
Net cash (debt) n/a 683.1 1,813.3 2,290.7 n/a n/a n/a n/a
Shareholders’ equity −1,751.4 −1,980.6 1,522.6 2,291.0 2,565.3 3,475.6 5,003.3 7,387.3
Debt to equity n/a n/a 0.13 0.00 n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
72.2% 67.4% 67.7% 78.0% 78.6% 80.6% 80.2% 82.4%
−104.7% −77.6% −107.4% −26.7% −8.5% 5.4% 10.8% 31.6%
−95.9% −76.4% −107.9% −31.7% −18.9% 10.7% 17.1% 37.0%
−97.4% −78.1% −106.7% −33.7% −19.6% 9.4% 16.1% 36.3%
−8.7% −24.0% −28.3% 20.8% 9.6% 31.3% 39.8% 46.9%
Spending
47.9% 41.2% 51.3% 25.1% 18.9% 18.2% 17.7% 12.5%
51.4% 43.2% 61.3% 39.7% 31.3% 23.6% 20.7% 14.7%
2.2% 1.8% 1.1% 0.8% 2.1% 0.7% 0.4% 0.8%
n/a n/a n/a n/a n/a 8.3% 4.3% 1.4%
Returns
n/a n/a −76.6% −22.7% −14.6% 6.0% 9.2% 22.0%
n/a −36.4% −43.4% −16.0% −10.8% 4.6% 7.3% 18.3%
Balance and payout
n/a n/a 0.13 0.00 n/a n/a n/a n/a
n/a 90.8% 43.4% 29.5% 23.7% 21.3% 19.7% 15.9%
n/a n/a n/a 0.0% 0.0% 0.0% 5.6% 3.6%