Palantir Technologies Inc. (PLTR) stock analysis
Company overview and business model
Source fact: Palantir Technologies Inc. builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. It provides Palantir Gotham integrates with other platforms for defense offerings which enables users to see, understand, and act in the modern battlespace; operations centers to the tactical edge; integrating data from domains and sensors in near real-time; and situational awareness and accelerating operational decision-making, as well as facilitates the hand-off between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform. The company also offers Palantir Foundry, a platform that helps organizations operate by creating a central operating system for their data; and allows individual users to integrate and analyze the data they need in one place. In addition, it provides Palantir Apollo, a software that delivers software and updates across the business, as well as enables customers to deploy their software virtually in any environment; and Palantir Artificial Intelligence Platform that provides unified access to open-source, self-hosted, and commercial large language models (LLMs) that can transform structured and unstructured data into LLM-understandable objects and can turn organizations' actions and processes into tools for humans and LLM-driven agents. The company also has a strategic partnership with Ondas Inc. to develop and deploy AI-enabled operational capabilities to scale stratospheric, aerial, and land-based ISR missions. The company has a strategic collaboration with NVIDIA to deliver an intelligent engine for running NVIDIA AI and Nemotron open models in sovereign environments. The company was incorporated in 2003 and is headquartered in Aventura, Florida.
Classification: NASDAQ · Technology · Software - Infrastructure
Revenue and growth
Source fact: Revenue was USD 4.48 billion for the period ending 2025-12-31.
Caverian calculation: Revenue changed +56.2% (FY2025 vs FY2024).
Profitability
Source fact: Net income was USD 1.63 billion in the latest reported period.
Source metric: Reported net margin was 36.3%.
Balance sheet and liquidity
Source fact: Cash and equivalents were USD 1.42 billion.
Source fact: Total debt was USD 229.34 million.
Source metric: Current ratio was 7.11x.
Cash-flow analysis
Source fact: Operating cash flow was USD 2.13 billion.
Source fact: Free cash flow was USD 2.10 billion.
Valuation
Source metrics: Trailing P/E 148.71x; Forward P/E 77.75x; Price to book 44.23x; Price to sales 70.24x; EV/EBITDA 158.99x.
Caverian model output: Value score was 22/100.
Competitive position
Classification: Peer context: Software - Infrastructure within Technology.
Caverian model output: Quality score was 76/100.
Caverian model limitation: Quality evidence was limited: 7 of 10 inputs were available (67% weighted coverage). Unavailable or not-meaningful inputs contributed a neutral 50, changing the raw 81 score to 76; further research is required.
Caverian model output: Growth score was 81/100.
Material risks
Caverian model interpretation: Watch out: limited Quality evidence (67% weighted coverage) — unavailable/NM inputs were averaged at neutral, changing the raw 81 score to 76; further research is required; price swings more than the broader market (beta 1.6).
Caverian calculation: Altman Z-score was 185.13 (safe zone).
Data sources and freshness
Freshness: This report uses a stored upstream snapshot; statement periods are shown alongside the figures.
Methodology and limitations
Facts reproduce stored upstream fields. Calculations derive only from the displayed stored statements. Model outputs are Caverian interpretations, not investment advice or a buy/sell recommendation.
How Caverian approaches valuation · Sources and product principles