Palantir Technologies

Information Technology Application Software Denver, Colorado Last filing Feb 17, 2026 · FY2025

                    Revenue
                    FY2025
                
$4.5B
                    3y CAGR +32.9%
                    
                    P95
                    
                    +56.2%
                    
                    Net income
                    FY2025
                
$1.6B
                    Net margin +36.3%
                    
                    P94
                    
                    +251.6%
                    
                    Total assets
                    FY2025
                
$8.9B
                    ROA +18.3%
                    
                    P88
                    
                    +40.4%
                    
                    Operating cash flow
                    FY2025
                
$2.1B
                    FCF margin +46.9%
                    
                    P97
                    
                    +85.0%

8 yrs · FY2018–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

25 accounts · 3 years

Total assets $8.9B

Total liabilities $1.4B

Shareholders equity $7.4B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	-32.2%	+152.5%	—
Short Term Investments	+83.7%	+10.1%	—
Accounts Receivable	+66.7%	+64.5%	—
Prepaid Expenses	+7.6%	+29.7%	—
Total Current Assets	+40.8%	+43.4%	—
Property,Plant and Equipment	+31.1%	-17.0%	—
Operating Lease Assets	-0.3%	+9.8%	—
Other Noncurrent Assets	+74.6%	+8.5%	—
Total Assets	+40.4%	+40.2%	—
Liabilities
Accounts Payable	+7729.1%	-99.2%	—
Accrued Liabilities	-16.7%	+91.5%	—
Deferred Revenue	+45.9%	+14.9%	—
Operating Lease Liabilities	+4.3%	-18.8%	—
Total Current Liabilities	+18.0%	+33.5%	—
Deferred Revenue Noncurrent	+15.9%	+42.2%	—
Operating Lease Liabilities Noncurrent	-6.0%	+11.4%	—
Other Noncurrent Liabilities	-53.7%	+26.0%	—
Total Liabilities	+13.3%	+29.6%	—
Equity
Common Stock	+2.2%	+6.3%	—
Additional Paid In Capital	+7.3%	+11.7%	—
Retained Earnings	+31.3%	+8.2%	—
Accumulated Other Comprehensive Income	+348.5%	-800.5%	—
Total Stockholders Equity	+47.6%	+44.0%	—
Noncontrolling Interest	+10.5%	+6.7%	—
Total Liabilitiesand Equity	+40.4%	+40.2%	—

Income Statement

Revenue, expense, and profitability

17 accounts · 3 years

Revenue $4.5B

Operating income $1.4B

Net income $1.6B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	+56.2%	+28.8%	—
Expenses Cost of Revenue	+39.4%	+31.3%	—
Other Income Expense Gross Profit	+60.3%	+28.2%	—
Expenses Research and Development	+9.8%	+25.5%	—
Expenses Selling,General and Administrative	+15.8%	+16.7%	—
Expenses Operating Expenses	+14.2%	+18.8%	—
Other Income Expense Operating Income	+355.5%	+158.7%	—
Other Income Expense Interest Income	+16.5%	+48.4%	—
Other Income Expense Other Income/expense	+178.6%	-16.7%	—
Other Income Expense Income Before Tax	+238.8%	+106.3%	—
Income Tax Income Tax Expense	+6.9%	+7.8%	—
net Income Other Items Below Tax	-67.8%	+24.1%	—
net Income net Income	+251.6%	+120.3%	—
net Income Comprehensive Income	+260.8%	+111.0%	—
Earnings Per Share Basic Eps	+228.6%	+110.0%	—
Earnings Per Share Diluted Eps	+231.6%	+111.1%	—
Earnings Per Share Weighted Average Shares Diluted	+4.7%	+6.7%	—

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 3 years

Operating cash flow $2.1B

Investing cash flow $-2.8B

Financing cash flow $-26.9M

Account	2025	2024	2023
CashFlow
Operating Activities net Income	+249.3%	+115.3%	—
Operating Activities Depreciation and Amortization	-17.2%	-5.3%	—
Operating Activities Stock Based Compensation	-1.1%	+45.3%	—
Operating Activities Changes In Operating Assets and Liabilities	-199.5%	-1224.1%	—
Operating Activities Other Non Cash Items	-101.2%	+258.7%	—
Operating Activities net Cash From Operating Activities	+85.0%	+62.0%	—
Investing Activities Capital Expenditures	-168.2%	+16.4%	—
Investing Activities Purchases of Investments	-43.9%	+4.2%	—
Investing Activities Proceeds From Sale of Investments	-0.9%	+75.6%	—
Investing Activities Other Investing Activities	—	-100.0%	—
Investing Activities net Cash From Investing Activities	-717.1%	+87.4%	—
Financing Activities Repurchase of Common Stock	-16.8%	—	—
Financing Activities Proceeds From Stock Issuance	-82.7%	+241.6%	—
Financing Activities Tax Withholding On Stock Based Compensation	+62.8%	—	—
Financing Activities Other Financing Activities	-80.9%	-26.1%	—
Financing Activities net Cash From Financing Activities	-105.8%	+111.7%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+210.9%	-330.2%	—
Cash Reconciliation net Change In Cash	-152.6%	+171.4%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+82.4%	+80.2%	+80.6%
Operating margin	+31.6%	+10.8%	+5.4%
Net margin	+36.3%	+16.1%	+9.4%
FCF margin	+46.9%	+39.8%	+31.3%
Growth
Revenue CAGR (3y)	+32.9%	+22.9%	+26.7%
Returns
ROE	+22.0%	+9.2%	+6.0%
ROA	+18.3%	+7.3%	+4.6%
ROIC	—	—	—
Liquidity
Current ratio	7.11x	5.96x	5.55x
Quick ratio	2.06x	2.71x	1.60x
Leverage
D/E	0.19x	0.25x	0.28x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.50x	0.45x	0.49x
Cash conversion cycle	—	—	—

Valuation

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Palantir Technologies

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