This page shows Palantir Technologies Inc (PLTR) financial statements, including the 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Palantir Technologies Inc has an operating margin of 31.6%, meaning the company retains $32 of operating profit per $100 of revenue. This strong profitability earns a score of 92/100, reflecting efficient cost management and pricing power. 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 100/100.
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 98/100, 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 100/100.
Palantir Technologies Inc converts 46.9% of revenue into free cash flow ($2.1B). This strong cash generation earns a score of 100/100.
Palantir Technologies Inc's ROE of 22.0% shows moderate profitability relative to equity, earning a score of 60/100. This is up from 9.2% the prior year.
Palantir Technologies Inc scores 152.27, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($355.1B) relative to total liabilities ($1.4B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Palantir Technologies Inc passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 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 $4.5B in revenue in fiscal year 2025. This represents an increase of 56.2% from the prior year.
Palantir Technologies Inc's EBITDA was $1.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 321.1% from the prior year.
Palantir Technologies Inc reported $1.6B in net income in fiscal year 2025. This represents an increase of 251.6% from the prior year.
Palantir Technologies Inc earned $0.63 per diluted share (EPS) in fiscal year 2025. This represents an increase of 231.6% from the prior year.
Cash & Balance Sheet
Palantir Technologies Inc generated $2.1B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 84.1% from the prior year.
Palantir Technologies Inc held $1.4B in cash against $0 in long-term debt as of fiscal year 2025.
Palantir Technologies Inc had 2.39B shares outstanding in fiscal year 2025. This represents an increase of 2.2% from the prior year.
Margins & Returns
Palantir Technologies Inc's gross margin was 82.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.1 percentage points from the prior year.
Palantir Technologies Inc's operating margin was 31.6% in fiscal year 2025, reflecting core business profitability. This is up 20.8 percentage points from the prior year.
Palantir Technologies Inc's net profit margin was 36.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 20.2 percentage points from the prior year.
Palantir Technologies Inc's ROE was 22.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 12.8 percentage points from the prior year.
Capital Allocation
Palantir Technologies Inc invested $557.7M in research and development in fiscal year 2025. This represents an increase of 9.8% from the prior year.
Palantir Technologies Inc spent $75.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 16.8% from the prior year.
Palantir Technologies Inc invested $33.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 168.2% from the prior year.
PLTR Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.4B+19.1% | $1.2B+17.7% | $1.0B+13.6% | $883.9M+6.8% | $827.5M+14.1% | $725.5M+7.0% | $678.1M+6.9% | $634.3M |
| Cost of Revenue | $216.0M+4.2% | $207.3M+7.4% | $192.9M+11.5% | $173.0M-0.9% | $174.5M+19.0% | $146.6M+14.1% | $128.6M+10.6% | $116.3M |
| Gross Profit | $1.2B+22.3% | $973.8M+20.1% | $810.8M+14.0% | $710.9M+8.9% | $653.0M+12.8% | $578.9M+5.3% | $549.6M+6.1% | $518.1M |
| R&D Expenses | $143.6M-0.4% | $144.2M+6.8% | $135.0M+0.1% | $134.9M-21.3% | $171.5M+45.9% | $117.6M+8.1% | $108.8M-1.1% | $110.0M |
| SG&A Expenses | $169.8M+5.0% | $161.7M-0.6% | $162.6M-0.6% | $163.6M-10.2% | $182.1M+31.3% | $138.7M0.0% | $138.6M+3.5% | $134.0M |
| Operating Income | $575.4M+46.3% | $393.3M+46.0% | $269.3M+53.0% | $176.0M+1494.2% | $11.0M-90.2% | $113.1M+7.4% | $105.3M+30.2% | $80.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $9.8M+160.5% | $3.8M+4.4% | $3.6M-35.8% | $5.6M+55.4% | $3.6M-53.9% | $7.8M+50.5% | $5.2M+11.5% | $4.7M |
| Net Income | $608.7M+28.0% | $475.6M+45.6% | $326.7M+52.7% | $214.0M+170.9% | $79.0M-45.0% | $143.5M+7.0% | $134.1M+27.1% | $105.5M |
| EPS (Diluted) | N/A | $0.18+38.5% | $0.13+62.5% | $0.08 | N/A | $0.060.0% | $0.06+50.0% | $0.04 |
PLTR Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $8.9B+9.7% | $8.1B+10.2% | $7.4B+9.3% | $6.7B+6.2% | $6.3B+9.9% | $5.8B+11.1% | $5.2B+8.0% | $4.8B |
| Current Assets | $8.4B+10.2% | $7.6B+10.1% | $6.9B+9.7% | $6.3B+5.9% | $5.9B+10.9% | $5.4B+12.1% | $4.8B+7.6% | $4.4B |
| Cash & Equivalents | $1.4B-11.9% | $1.6B+73.8% | $929.5M-6.4% | $993.5M-52.7% | $2.1B+173.0% | $768.7M+49.9% | $512.7M-1.5% | $520.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $1.0B+3.6% | $1.0B+34.6% | $747.5M+3.1% | $725.2M+26.1% | $575.0M-13.9% | $668.1M+1.3% | $659.3M+35.4% | $487.0M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $1.4B-0.9% | $1.4B+6.4% | $1.3B+10.0% | $1.2B-2.3% | $1.2B+5.9% | $1.2B+11.6% | $1.1B+11.4% | $945.9M |
| Current Liabilities | $1.2B-0.4% | $1.2B+8.3% | $1.1B+12.6% | $967.4M-2.9% | $996.0M+5.6% | $943.5M+16.9% | $806.9M+7.5% | $750.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $7.4B+12.1% | $6.6B+11.2% | $5.9B+9.3% | $5.4B+8.4% | $5.0B+11.2% | $4.5B+11.1% | $4.1B+7.3% | $3.8B |
| Retained Earnings | -$3.6B+14.6% | -$4.2B+10.2% | -$4.6B+6.6% | -$5.0B+4.1% | -$5.2B+1.5% | -$5.3B+2.7% | -$5.4B+2.4% | -$5.5B |
PLTR Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $777.3M+53.1% | $507.7M-5.9% | $539.3M+73.8% | $310.3M-32.6% | $460.3M+9.7% | $419.8M+191.1% | $144.2M+11.3% | $129.6M |
| Capital Expenditures | $13.3M+95.4% | $6.8M-11.0% | $7.6M+23.4% | $6.2M+99.1% | $3.1M-22.1% | $4.0M+38.4% | $2.9M+8.1% | $2.7M |
| Free Cash Flow | $764.0M+52.5% | $500.9M-5.8% | $531.6M+74.8% | $304.1M-33.5% | $457.2M+10.0% | $415.8M+194.2% | $141.3M+11.3% | $126.9M |
| Investing Cash Flow | -$957.8M-627.5% | $181.6M+129.4% | -$617.0M+55.6% | -$1.4B-317.2% | $640.2M+299.6% | -$320.7M-115.4% | -$148.9M+70.9% | -$511.2M |
| Financing Cash Flow | -$10.9M-269.4% | $6.4M-0.2% | $6.5M+122.3% | -$28.9M-112.1% | $238.7M+57.6% | $151.4M+7767.2% | -$2.0M-102.6% | $75.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $19.2M0.0% | $19.2M+3.2% | $18.6M+3.3% | $18.0M-3.2% | $18.6M-1.6% | $18.9M+6.8% | $17.7M+96.7% | $9.0M |
PLTR Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 84.7%+2.2pp | 82.5%+1.7pp | 80.8%+0.3pp | 80.4%+1.5pp | 78.9%-0.9pp | 79.8%-1.2pp | 81.0%-0.6pp | 81.7% |
| Operating Margin | 40.9%+7.6pp | 33.3%+6.5pp | 26.8%+6.9pp | 19.9%+18.6pp | 1.3%-14.3pp | 15.6%+0.1pp | 15.5%+2.8pp | 12.8% |
| Net Margin | 43.3%+3.0pp | 40.3%+7.7pp | 32.6%+8.3pp | 24.2%+14.7pp | 9.6%-10.2pp | 19.8%0.0pp | 19.8%+3.1pp | 16.6% |
| Return on Equity | 8.2%+1.0pp | 7.2%+1.7pp | 5.5%+1.6pp | 4.0%+2.4pp | 1.6%-1.6pp | 3.2%-0.1pp | 3.3%+0.5pp | 2.8% |
| Return on Assets | 6.8%+1.0pp | 5.9%+1.4pp | 4.4%+1.3pp | 3.2%+1.9pp | 1.3%-1.2pp | 2.5%-0.1pp | 2.6%+0.4pp | 2.2% |
| Current Ratio | 7.11+0.7 | 6.43+0.1 | 6.32-0.2 | 6.49+0.5 | 5.96+0.3 | 5.67-0.2 | 5.920.0 | 5.91 |
| Debt-to-Equity | 0.19-0.0 | 0.220.0 | 0.230.0 | 0.22-0.0 | 0.25-0.0 | 0.260.0 | 0.260.0 | 0.25 |
| FCF Margin | 54.3%+11.9pp | 42.4%-10.6pp | 53.0%+18.6pp | 34.4%-20.9pp | 55.3%-2.1pp | 57.3%+36.5pp | 20.8%+0.8pp | 20.0% |
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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 Altman Z-Score?
Palantir Technologies Inc (PLTR) has an Altman Z-Score of 152.27, 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 9, indicating strong financial health. 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 7–9 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 92 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.