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Sells data-integration and AI software platforms used by governments and companies to analyze complex data.
Sells data-integration and AI software platforms used by governments and companies to analyze complex data.
Sells software on multi-year contracts, starting with US defense and intelligence agencies and now increasingly to companies, often beginning with a short paid pilot that grows into a larger deployment. Its own engineers work closely with customers to set the platform up. It listed directly on the NYSE in 2020.
Moat: narrow (switching costs, installed base, regulatory licence). Deep integration into customer data and workflows, plus security clearances, make it sticky in government work.
Headquarters: Denver, Colorado, US · Founded: 2003 · Employees: 4,429
Size Palantir Technologies (PLTR) is a United States Information Technology company (Packaged Software) with a market value of $386B, the 25th largest of 3,117 United States companies the cockpit tracks. Shares closed at $160.38 on 6 Nov 2026.
Performance Over six months the shares gained 16.4%, against +33.5% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 9 in its peer set.
Growth Revenue grew 87.1% over the last twelve months (peer median +23.1%); the operating margin is 45.6% (peer median 17.0%).
Valuation It trades at 69.8× forward earnings against a peer median of 26.1× (4th most expensive of 9).
Price implies For today's price to make sense, revenue must grow about 57% a year for seven years (Req g). Recent delivered growth is +33%, so the hurdle is +24 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Backlog Backlog (remaining performance obligations) was $4.90B at 30 Sep 2026, up 88% on a year earlier — 0.7 years of trailing revenue. Backlog detail →
Short interest Short interest is 2.4% of the free float (15 Oct 2026).
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $7.29B | $4.48B | $2.87B | $2.23B | $1.91B |
| Revenue growth | — | +56% | +29% | +17% | — |
| Gross profit | $6.18B | $3.69B | $2.30B | $1.79B | $1.50B |
| EBITDA | $3.36B | $1.44B | $342M | $153M | -$139M |
| Net income | $3.67B | $1.63B | $462M | $210M | -$374M |
| Free cash flow | $4.05B | $2.10B | $1.14B | $697M | $184M |
| Capital expenditure | $43.2M | $33.9M | $12.6M | $15.1M | $40.0M |
| Total debt | $225M | $229M | $239M | $229M | $249M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Palantir Technologies PLTR | $386B | +16% | +87% | 46% | 69.8× | 56.6% |
| C3.ai AI | $1.84B | +18% | -38% | -198% | n/a | n/a |
| Microsoft MSFT | $3.94T | +28% | +18% | 47% | 25.5× | 17.2% |
| Booz Allen Hamilton BAH | $10.1B | +11% | -6% | 9% | 13.3× | -7.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PLTR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.3% | -16.0% | 4th lowest of 9 |
| 6-month return | +16.4% | +33.5% | 4th lowest of 9 |
| Distance from 52-week high | -24.7% | -27.8% | 4th highest of 9 |
| Revenue growth (TTM) | +87.1% | +23.1% | highest of 9 |
| Operating margin | 45.6% | 17.0% | 2nd highest of 9 |
| Forward P/E | 69.8× | 26.1× | 4th most expensive of 9 |
| Growth the price implies (Req g, 7 yrs) | 56.6% | 28.9% | most demanding of 7 |
| Growth delivered (Del g) | +32.6% | +27.2% | 3rd highest of 7 |
| Hurdle (Req g minus delivered) | +24.1 pp | +2.4 pp | most demanding of 7 |
| Net debt / EBITDA | -3.1× | 0.1× | 2nd least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Palantir Technologies PLTR | United States | $386B | +16% | +87% | 46% | 69.8× | 56.6% | +32.6% |
| Oracle ORCL | United States | $351B | -41% | +22% | 34% | 13.6× | n/a | n/a |
| Sap SAP.DE | Germany | $276B | +49% | +8% | 29% | 29.8× | 14.9% | +6.1% |
| Palo Alto Networks PANW | United States | $257B | +51% | +24% | 5% | 75.0× | n/a | n/a |
| CrowdStrike CRWD | United States | $222B | +64% | +24% | -1% | 153.6× | 52.4% | +40.6% |
| Salesforce CRM | United States | $176B | +18% | +11% | 22% | 14.6× | 13.7% | +14.3% |
| AppLovin APP | United States | $131B | -16% | +29% | 78% | 20.0× | 28.2% | +30.4% |
| ServiceNow NOW | United States | $106B | +12% | +22% | 13% | 22.4× | 29.5% | +24.1% |
| SNOW SNOW | United States | $97.3B | +81% | +32% | -22% | 108.4× | 41.3% | +51.2% |
Palantir Technologies reported $4.90B of remaining performance obligations at 30 Sep 2026, up 88% from a year earlier and flat from the previous quarter. That is 0.7 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.