Information Technology · Application Software · US stock · price as of 16 Oct 2026
Key indicators
Price
$186.03
52-week range
$106.37 – $212.94
Market cap
$477.9B
P/E (trailing)
158.4×
EV / EBITDA
175.9×
Free-cash-flow yield
0.7%
Dividend yield
–
Revenue (last 12 months)
$6.2B
Revenue growth (3y a year)
32.9%
Operating margin
42.8%
Return on invested capital
649.5%
Net debt / EBITDA
–
Fair value
Blended fair value$38.19 range $35 – $42
Versus priceData under review+0% to fair value
Peer multiples
$38.12
Fundamentals-adjusted multiple
$32.47
10-year DCF (market-scaled)
$43.97
Earnings power value (floor, not blended)
$4.15
Model uncertainty
High
X-Ray Score
60/ 100 · Medium confidence · ahead of 76% of sector peers
Valuation9
Growth90
Profitability64
Financial health89
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Palantir Technologies builds software platforms that let organizations combine large and varied data sets and use them for analysis and decision making. Gotham is aimed at government defense and intelligence customers, while Foundry serves commercial companies, and the newer Artificial Intelligence Platform helps customers deploy AI models. Revenue comes mainly from software subscriptions and long-term contracts with governments and businesses, along with related services.
Revenue has grown 32.9% a year over three years, leaving the last twelve months at $6.2 billion. Operating margin is 42.8%. Return on invested capital comes to 649%. It does not pay a dividend. These numbers describe past results and current financial position, and they are shown for reference only.
StocksXray gives Palantir Technologies Inc. an X-Ray Score of 60 out of 100 (medium confidence), ahead of 76% of the S&P 500 stocks in its sector. Its strongest lens is growth (90) and its weakest is valuation (9).
Our fair value blend is $38.19 (range $35.20 to $41.94). At $186.03 the stock trades 387% above that blend, so the label is "Data under review" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Palantir Technologies Inc. (PLTR)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$18.21
$6.42
$17.17
$75.63
$177.75
$186.03
Market cap
$35.0B
$13.2B
$39.5B
$185.4B
$456.0B
$477.9B
P/E
–
–
190.8×
398.1×
282.1×
158.4×
EV / revenue
21.1×
5.6×
16.1×
62.9×
100.3×
76.1×
EV / EBITDA
–
–
233.9×
527.0×
311.7×
176.0×
Price / free cash flow
109.0×
72.1×
56.6×
162.4×
217.1×
142.3×
Free-cash-flow yield
0.9%
1.4%
1.8%
0.6%
0.5%
0.7%
Price / book
15.3×
5.2×
11.4×
37.0×
61.7×
48.9×
Dividend yield
–
–
–
–
–
–
Fundamentals checklist ● 10 Good · ● 1 Average · ● 3 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−3.3%Average
Free-cash-flow yield0.7%Bad
Risk models
Altman Z score12.2×Good
Piotroski F-Score8 of 9Good
Growth
Free-cash-flow growth (3y)125.3%Good
Revenue growth (3y)32.9%Good
Growth consistency100%Good
Balance sheet
Current ratio7.2×Good
Interest coverno interest costGood
Valuation
Fair value vs price0.2×Bad
EBIT / EV yield0.6%Bad
Profitability
Return on invested capital649.5%Good
Operating margin42.8%Good
Gross profitability44.7%Good
XStocksXray
Palantir Technologies Inc. (PLTR)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
1,542
1,906
2,225
2,866
4,475
6,156
Gross profit
1,202
1,497
1,794
2,300
3,686
5,220
Operating income
-411
-161
120
310
1,414
2,635
Net income
-520
-374
210
462
1,625
3,017
Diluted EPS ($)
-0.27
-0.18
0.09
0.19
0.63
1.17
Free cash flow
321
184
697
1,141
2,101
3,358
Gross margin
78.0%
78.6%
80.6%
80.2%
82.4%
84.8%
Operating margin
−26.7%
−8.5%
5.4%
10.8%
31.6%
42.8%
Net margin
−33.7%
−19.6%
9.4%
16.1%
36.3%
49.0%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
3,247
3,461
4,522
6,341
8,900
11,679
Cash
2,291
2,599
831
2,099
1,424
2,030
Total debt
0
–
–
–
–
–
Equity
2,291
2,565
3,476
5,003
7,387
9,774
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.