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$152.54
Market Capi
$385B
Growth-adj P/E (2-yr hist)i
1.6x
Growth-adj P/E (3-yr proj)i
1.0x
P/S 26Ei
50x
P/S 28Ei
24x
EV/EBIT 26Ei
83x
EV/EBIT 28Ei
36x
P/E 26Ei
119x
P/E 28Ei
62x
P/S 26Ei
50x
EV/EBIT 26Ei
83x
P/E 26Ei
119x
P/S 28Ei
24x
EV/EBIT 28Ei
36x
P/E 28Ei
62x
Revenue
2026E
7.7B
Gross Margini
82%
Hist. CAGRi
33%
Proj. CAGRi
53%
EBIT
2026E
4.5B
Op. Margini
31%
Hist. CAGRi
243%
Proj. CAGRi
92%
Net profit
2026E
3.5B
Net Margini
36%
Hist. CAGRi
179%
Proj. CAGRi
64%
Consensus Target
$183.73+20%
30 analysts covering
Net cashi
$7.0B
Div. Yieldi
n/a
Dilutioni
4.6%
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:
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.
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.
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.
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.
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 Ratio
EV/EBIT
P/E RatioP/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 millions of USD.
Operating cashflow · Levered Free Cash Flow
Free Cash Flow
CAPEX
Values in millions of USD.
Margins
Rentability
Balance sheet
Values in millions of USD.
Liquidity ratios
Debt-to-Equity-Ratio
Q1 2026 revenue grew 85% year-over-year, the company's highest-ever annual growth rate, driven by an explosive surge in U.S. commercial demand. U.S. revenue specifically expanded 104% year-over-year, with U.S. commercial revenue up 133% — the AIP platform pulling enterprise adoption well ahead of internal forecasts.
EPS beat consensus handily, with a net income margin exceeding 50% and adjusted operating margin reaching 60% — marking a step-change in profitability alongside the top-line acceleration.
Management raised full-year 2026 revenue guidance to roughly 71% growth, alongside U.S. commercial revenue guidance of at least 120% growth — figures that decisively crushed analyst consensus and prompted a sharp positive stock reaction on May 5.
On March 12, 2026, Palantir and NVIDIA jointly launched a Sovereign AI OS reference architecture, offering governments and enterprises a turnkey AI datacenter solution from hardware procurement to application deployment — a significant expansion of Palantir's addressable market in sovereign AI infrastructure.
A five-year blanket purchase agreement with the Department of Homeland Security, valued up to $1 billion, was secured — reinforcing Palantir's position as a preferred AI platform for U.S. federal agencies and adding long-duration revenue visibility.
On March 19, 2026, Palantir and Moder announced a strategic partnership to co-build an AI-powered mortgage operations platform, with Freedom Mortgage as the first pilot customer — an example of AIP being applied to vertically specific enterprise workflows beyond Palantir's traditional defense and intelligence base.
GE Aerospace expanded its multi-year partnership with Palantir to deploy agentic AI across military aviation sustainment and GE's production system, deepening the company's footprint in industrial and aerospace operations.
Bulls point to the AIP-driven commercial inflection as structural, not cyclical: U.S. commercial customer count has grown dramatically, boot-camp-style sales motions are converting at high rates, and enterprise AI deployment has reached a phase where Palantir's data integration layer becomes the operating system for large-scale AI. The government contract pipeline — including NATO, DHS, and defense adjacents — adds durable, long-cycle revenue to the mix.
Bears focus on stretched valuation multiples that embed years of sustained hyper-growth to justify the current price. Any deceleration in the AIP adoption curve, or a reversal in government spending priorities, could compress the multiple sharply. The stock is down meaningfully year-to-date even as fundamentals accelerated, reflecting how demanding the expectations embedded in the price already were.
The key variable to watch is whether U.S. commercial growth sustains above 100% or begins to normalize as the installed base grows. If large-enterprise AIP deployments convert from pilots to full production at scale, the bull case strengthens materially; if conversion stalls, the growth narrative re-rates downward quickly given the valuation starting point.
Consensusi
Outperform
Average targeti
$183.73+20%
Highest targeti
$255.00+67%
Lowest targeti
$70.00-54%