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$186.29
Market Capi
$448B
Growth-adj P/E (2-yr hist)i
1.6x
Growth-adj P/E (3-yr proj)i
0.8x
P/S 26Ei
55x
P/S 28Ei
25x
EV/EBIT 26Ei
88x
EV/EBIT 28Ei
37x
P/E 26Ei
123x
P/E 28Ei
61x
P/S 26Ei
55x
EV/EBIT 26Ei
88x
P/E 26Ei
123x
P/S 28Ei
25x
EV/EBIT 28Ei
37x
P/E 28Ei
61x
Revenue
2026E
$8.2B
Gross Margini
82%
Hist. CAGRi
33%
Proj. CAGRi
58%
EBIT
2026E
$4.9B
Op. Margini
31%
Hist. CAGRi
243%
Proj. CAGRi
100%
Net profit
2026E
$3.9B
Net Margini
36%
Hist. CAGRi
179%
Proj. CAGRi
72%
Business Model
Recent Developments
Average Targeti
$188.83+16%
Consensusi
Buy
31 analysts covering
Net cashi
$12B
Div. Yieldi
n/a
Dilutioni
4.6%
Market Capi
$448B
P/E 26Ei
123x
Adj. P/E (fwd.)i
0.8x
Revenue 26E
$8.2B
Proj. CAGRi
58%
Gross Margini
82%
EBIT 26E
$4.9B
Proj. CAGRi
100%
Op. Margini
31%
Net Profit 26E
$3.9B
Proj. CAGRi
72%
Net Margini
36%
Average Targeti
$188.83+16%
Consensusi
Buy
31 analysts covering
Profile
Palantir builds and licenses large-scale data integration and AI operating platforms used to fuse disparate data sources into actionable intelligence for operational decision-making. Revenue breaks into two primary customer verticals:
Industry
Palantir operates in the enterprise data and AI software market — a high-stakes, long-sales-cycle space with deeply embedded deployments once live. U.S. revenue accounts for roughly 74% of total, with the U.K. (roughly 10%) and international markets making up the remainder. Notable commercial clients include major industrial and financial enterprises; government customers span the Pentagon, DHS, the NHS in the U.K., and various defense ministries globally. The market is not broadly competitive at Palantir's deployment scale — few vendors can operate simultaneously across classified government environments and regulated enterprise workflows.
Key metrics
Economic moat
Palantir's primary moat is deep data integration lock-in. Once Foundry or AIP is embedded as the operational data layer for a large organization — connecting dozens of internal systems, building custom ontologies, and training organization-specific models — the cost and disruption of replacement is prohibitive. In government, security clearances, classified infrastructure access, and multi-year contractual relationships create additional switching barriers that commercial vendors cannot easily overcome. The combination of mission-critical deployment depth, proprietary ontology frameworks, and increasingly, the network of trained operators inside customer organizations, makes churn structurally low once a meaningful deployment is live.
Alexander Karp
Karp co-founded Palantir in 2003 alongside Peter Thiel and Stephen Cohen, and has served as CEO since the company's inception. His background is unusual for a tech CEO — a doctorate in neoclassical social theory from Goethe University Frankfurt — but this has shaped Palantir's distinctly philosophical approach to data ethics, privacy, and the company's relationship with Western governments. Karp is the public face of Palantir's strategic vision and remains deeply involved in both product direction and major government contract negotiations.
Peter Thiel
Thiel provided Palantir's initial seed capital through Founders Fund and has served as Chairman since the company's founding in 2003. His prior role as co-founder of PayPal and early Facebook investor gives him a long track record of identifying paradigm-shifting technology platforms early. Thiel's political and intellectual influence has shaped Palantir's government-first go-to-market and its willingness to take controversial defense contracts that other Silicon Valley firms declined.
Stephen Cohen
Cohen co-founded Palantir and has served as President since 2004, overseeing product strategy and internal operations alongside Karp's external-facing CEO role. He has maintained a lower public profile than Karp or Thiel but is considered central to Palantir's product architecture decisions and enterprise deployment methodology.
Other key figures
Shyam Sankar (COO) has been with Palantir since 2006 and is one of the company's most prominent internal voices on AI strategy, frequently representing the company at public events and earnings calls. David Glazer (CFO) has overseen Palantir's financial operations since 2012, guiding the company through its 2020 IPO and subsequent growth phase.
P/S Ratioi
EV/EBITi
P/E RatioiP/E values for 2021, 2022, 2023, 2024, and 2025 were omitted from this chart because negative or above 150x values usually occur around break-even earnings and would distort the scale. The raw values remain in the table below.
Revenue
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
EBITEBIT year-over-year growth labels for 2022 and 2023 are hidden because the prior comparison year is missing, zero, or negative. Growth rates from missing or non-positive bases are not meaningful.
CAGR (hist. 2-yr)i
0%
CAGR (proj. 3-yr)i
0%
Net profitNet profit year-over-year growth labels for 2022 and 2023 are hidden because the prior comparison year is missing, zero, or negative. Growth rates from missing or non-positive bases are not meaningful.
CAGR (hist. 2-yr)i
0%
CAGR (proj. 3-yr)i
0%
Values in billions of USD.
Operating cashflow · Levered Free Cash Flow
Free Cash Flow
CAPEX
Values in billions of USD.
Margins
Rentability
Balance sheet
Values in billions of USD.
Liquidity ratios
Debt-to-Equity-Ratio
Last earnings
Palantir reported second-quarter 2026 results on August 3, 2026, with revenue of $1.94 billion, up 93% year-over-year, ahead of consensus estimates near $1.8 billion.
Adjusted diluted earnings came in at $0.41 per share, above consensus estimates of roughly $0.34, while GAAP net income reached $1.07 billion, compared with about $329 million in the same quarter a year earlier.
The standout was the U.S. commercial business, where revenue grew 149% year-over-year to $764 million, accelerating from the prior quarter and lifting the company's Rule of 40 score to 155%.
Management raised full-year 2026 guidance to revenue of $8.15–$8.16 billion (about 82% growth) and adjusted free cash flow of $4.5–$4.7 billion, with the U.S. commercial revenue outlook lifted above $3.4 billion.
Recent developments
Palantir and Mercury Systems announced a partnership on August 3, 2026 to automate material planning and factory operations across Mercury's U.S. defense manufacturing sites, funded through a Pentagon prototype agreement.
USA Today Co. disclosed a partnership with Palantir on August 6, 2026, using the company's software to analyze reader and audience data and identify new monetization opportunities across its publications.
Palantir also rolled out SuperRepo, a new development tool for its Foundry platform that unifies application-building around its Ontology data model, extending the company's push to deepen its developer tooling for enterprise customers.
Debate & sentiment
Bulls point to the 149% jump in U.S. commercial revenue and a Rule of 40 score above 150% as evidence that enterprise AI demand is still accelerating rather than cooling, reinforced by the scale of the guidance raise.
Skeptics counter that even after the upgraded outlook, the stock trades at stretched valuation multiples, leaving little room for error if growth decelerates from these unusually high rates.
Government and defense contracts remain central to the business, and continued scrutiny over Palantir's work with immigration and defense agencies — including renewed criticism tied to conflict-zone operations — is a recurring reputational overhang some investors weigh against the growth story.
Others flag heavy stock-based compensation and ongoing insider selling as reasons to discount the quality of the company's now-positive GAAP earnings, a tension that continues to divide the bull and bear camps.
Consensusi
Buy
Average targeti
$188.83+16%
Highest targeti
$255.00+57%
Lowest targeti
$80.00-51%
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