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Nasdaq · Technology

Palantir Technologies Inc. (PLTR)

As-reported financials and SEC filings for Palantir Technologies Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Palantir Technologies Inc.

Palantir Technologies Inc. develops software platforms that help organizations integrate their data, decisions, and operations at scale. Its main products include Gotham, Foundry, Apollo, and the Artificial Intelligence Platform (AIP), which serve government agencies and commercial enterprises across various industries. The company’s software supports data management, analytics, AI integration, and continuous software delivery in diverse environments worldwide.

Snapshot

Revenue
$4.48B
Revenue growth (YoY)
56.2%
Net income
$1.63B
Diluted EPS
$0.63
Gross margin
82.4%
Operating margin
31.6%
Net margin
36.3%
FCF margin
46.9%
ROE
21.7%
net income / fiscal-year-end equity
P/E
145.6×
trailing when available, otherwise FY EPS
Market cap
$409.24B
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Palantir Technologies

  • Revenue grew 56.2% to $4.5B in FY2025, faster than the 28.8% the year before.
  • Operating margin turned positive at 31.6% in FY2025, from a 26.7% operating loss in FY2021.
  • Most recent quarter Q2 FY2026: revenue $1.9B, up 92.8% from Q2 FY2025.
  • Free cash flow was $2.1B in FY2025, 46.9% of revenue.
  • Net income rose 251.6% to $1.6B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Palantir Technologies’s fundamentals sit among the 332 software companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin82.4%
89th percentile of 264
Operating margin31.6%
94th percentile of 303
Net margin36.3%
94th percentile of 307
FCF margin46.9%
99th percentile of 285
Revenue growth (YoY)+56.2%
93rd percentile of 325
ROE21.7%
81st percentile of 285
P/E145.6×
96th percentile of 168
Short interest1.10d
13th percentile of 329

Palantir Technologies’s FCF margin of 46.9% ranks in the 99th percentile of the 285 software companies reporting it. Palantir Technologies’s P/E of 145.6 ranks in the 96th percentile of the 168 peers with a meaningful P/E. Palantir Technologies’s operating margin of 31.6% ranks in the 94th percentile of the 303 software companies reporting it.

No reported insider purchases (code P) in the last 90 days; 39 insider sales totaling $124.1M. For context, about 14% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+6 quant / multi-strat
Initiated / added
3
0 new, 3 added
Reduced / exited
9
6 trimmed, 3 exited
Combined position
$2.91B
reported long value
InvestorAs ofPosition valueSharesChange
Renaissance TechnologiesquantQ2 2026$883.0M7.6MAdded
Two Sigma InvestmentsquantQ2 2026$413.5M3.5MReduced
D. E. ShawquantQ2 2026$380.6M3.3MReduced
AQR Capital ManagementquantQ2 2026$380.4M3.3MReduced
ARK Investment ManagementQ2 2026$374.8M3.2MAdded
Citadel AdvisorsquantQ2 2026$216.5M1.9MReduced
Millennium ManagementquantQ2 2026$203.8M1.7MAdded
Gotham Asset ManagementQ2 2026$59.0M505.5KReduced
Sands Capital ManagementQ2 2026$2.1M17.9KReduced

No longer held by: Bridgewater Associates (as of Q2 2026), Hound Partners (as of Q2 2026), Point72 Asset Management (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
39
$124.1M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-09-01
filed 2026-09-03
Stat Lauren Elaina FriedmanDirectorSell1.3K$182.50$245K
2026-08-21
filed 2026-08-24
Buckley JeffreySee RemarksSell1.3K$174.29$218K
2026-08-20
filed 2026-08-24
Karp Alexander C.See RemarksSell306.5K$174.85$53.6M
2026-08-20
filed 2026-08-24
Karp Alexander C.See RemarksSell63.6K$175.42$11.2M
2026-08-20
filed 2026-08-24
Karp Alexander C.See RemarksSell62.5K$174.73$10.9M
2026-08-20
filed 2026-08-24
Karp Alexander C.See RemarksSell19.5K$173.79$3.4M
2026-08-20
filed 2026-08-24
Karp Alexander C.See RemarksSell11.6K$173.84$2.0M
2026-08-20
filed 2026-08-24
Karp Alexander C.See RemarksSell11.2K$175.48$2.0M
2026-08-20
filed 2026-08-24
Karp Alexander C.See RemarksSell11.4K$172.65$2.0M
2026-08-20
filed 2026-08-24
Karp Alexander C.See RemarksSell4.2K$172.66$725K
2026-08-20
filed 2026-08-24
Buckley JeffreySee RemarksSell1.6K$174.85$274K
2026-08-20
filed 2026-08-24
Karp Alexander C.See RemarksSell1.3K$176.31$230K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
68.3M
settled 2026-08-14
Change vs prior
+0.3%
vs previous settlement
Days to cover
1.10
at avg daily volume
Avg daily volume
62.1M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-1468.3M+0.3%1.10
2026-07-3168.1M-12.6%2.25
2026-07-1577.9M-10.8%1.83
2026-06-3087.3M+14.2%1.87
2026-06-1576.4M+10.5%2.01
2026-05-2969.2M-2.3%1.77
2026-05-1570.8M+19.6%1.44
2026-04-3059.2M+11.4%1.50

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$4.48B$2.87B$2.23B$1.91B$1.54B
Gross profit$3.69B$2.30B$1.79B$1.50B$1.20B
Operating income$1.41B$310.4M$120.0M$-161.2M$-411.0M
Net income$1.63B$462.2M$209.8M$-373.7M$-520.4M
Diluted EPS$0.63$0.19$0.09$-0.18$-0.27

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$1.42B$2.10B$831.0M$2.60B$2.29B
Current assets$8.36B$5.93B$4.14B$3.04B$2.86B
Total assets$8.90B$6.34B$4.52B$3.46B$3.25B
Current liabilities$1.18B$996.0M$746.0M$587.9M$660.1M
Long-term debt$0
Total liabilities$1.41B$1.25B$961.5M$818.8M$956.4M
Total equity$7.49B$5.09B$3.56B$2.64B$2.29B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$2.13B$1.15B$712.2M$223.7M$333.9M
Capital expenditure$33.9M$12.6M$15.1M$40.0M$12.6M
Free cash flow$2.10B$1.14B$697.1M$183.7M$321.2M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$1.94B92.8%$1.06B$0.41
Q1 FY2026$1.63B84.7%$870.5M$0.34
Q4 FY2025$1.41B70.0%$608.7M$0.24
Q3 FY2025$1.18B62.8%$475.6M$0.18
Q2 FY2025$1.00B48.0%$326.7M$0.13
Q1 FY2025$883.9M39.3%$214.0M$0.08
Q4 FY2024$827.5M36.0%$79.0M$0.03
Q3 FY2024$725.5M30.0%$143.5M$0.06

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorTechnology
SIC industryServices-Prepackaged Software
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2005
SEC CIK1321655

Selected SEC filings

10-K2026-02-17
View on EDGAR →
10-K2025-02-18
View on EDGAR →
10-Q2026-08-04
View on EDGAR →
10-Q2026-05-05
View on EDGAR →
10-Q2025-11-04
View on EDGAR →
10-Q2025-08-05
View on EDGAR →
8-K2026-08-03
View on EDGAR →
8-K2026-06-09
View on EDGAR →

Largest software peers

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.