# Palantir Technologies Inc. (PLTR)

> Palantir sells software that helps government agencies and businesses combine their data, analyze it, and use it to run operations and make decisions.

- Exchange: Nasdaq · Sector: Technology · Industry: Software Infrastructure
- Headquarters: Denver, Colorado, United States
- Founded: 2003
- Employees: 4,429 (December 31, 2025)
- SEC CIK: 0001321655 ([filings on EDGAR](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001321655))
- Full page: https://inspectstocks.com/stocks/pltr
- Data as of: price 2026-09-25; newest filing used 2026-08-04; latest fiscal period ended 2026-06-30

## Grade

**A+** on the growth-and-cash rubric, 5 of 5 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Revenue growing overall | passed | $6.2B | $2B |
| Revenue growing recently | passed | $6.2B | $4.5B |
| Free cash flow positive | passed | $3.4B |  |
| Free cash flow growing overall | passed | $3.4B | $375.4M |
| Free cash flow growing recently | passed | $3.4B | $2.1B |

Business quality (the + / − mark): 6 of 6 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Profitable | passed | 49.0% |  |
| Healthy profit margin | passed | 49.0% |  |
| Strong operating margin | passed | 42.8% |  |
| Good return on equity | passed | 40.8% |  |
| Debt under control | passed | 0.03 |  |
| Turns sales into cash | passed | 54.6% |  |

How the grade works: the letter counts failed checks (none → A, one → B, two → C, three → D, four or more → F). It is built from SEC filings only — the share price never enters it — and describes the business, not whether the stock is worth buying.

## Key figures

In US dollars, as filed.

| Measure | Value |
| --- | --- |
| Revenue, trailing twelve months | $6.2B |
| Net income, trailing twelve months | $3B |
| Free cash flow, trailing twelve months | $3.4B |
| Net margin | 49.0% |
| Operating margin | 42.8% |
| Return on equity | 40.8% |
| Debt to equity | 0.03 |
| Diluted EPS, trailing twelve months | $1.16 |
| Share price | $189.67 |
| Market value | $487.4B |
| Price / earnings | 163.5x |
| Price / sales | 79.2x |

## What the business does

Palantir makes four main software products: Gotham for defense and intelligence work, Foundry for organizing data and building workflows, Apollo for delivering software updates across different computing environments, and the Artificial Intelligence Platform (AIP) for using artificial intelligence with an organization’s data and processes. Customers can combine these products, which are designed to work with data the customer already has access to. Contracts can include software access, continuing support and maintenance, and services such as configuration, training, and data modeling.

### How it makes money

- **Government customer contracts** (52% (six months ended June 30, 2026)) — Government agencies pay for access to Palantir’s software and related support, generally through contracts lasting one to five years, though shorter contracts are also used. Revenue is generally recognized over the contract term.
- **Commercial customer contracts** (48% (six months ended June 30, 2026)) — Businesses pay for access to Palantir’s software and related support. Contracts can include hosted access or software run in the customer’s own computing environment, as well as professional services; revenue is generally recognized over the service period.

### Products

- **Gotham** — Software that brings together information from different sources, including sensors, to help defense and intelligence users understand events, plan missions, and coordinate operations.
- **Foundry** — Software that helps organizations bring their data together, analyze it, and build applications and workflows for everyday operations.
- **Apollo** — Software for delivering software updates, security changes, and configuration updates across cloud services, customers’ own computers, and other environments.
- **Artificial Intelligence Platform (AIP)** — Software that connects artificial intelligence models to an organization’s data and work processes, with tools for building automated tasks and controlling how the models are used.

### Customers

- U.S. and other government agencies that buy software for defense, intelligence, and other government work, often through separately contracted departments or agencies.
- Commercial businesses that buy software to organize data and support work across their operations; the company reports customers in many industries.
- Defense personnel, intelligence analysts, and military organizations using software for situational awareness and mission planning.
- Workers and analysts in industries such as utilities, automotive manufacturing, oil and gas, and pharmaceuticals, who use the software for operational tasks.

### Competitors

- Microsoft (MSFT) — Business data and artificial intelligence software, including services offered through Azure.
- Snowflake (SNOW) — Software for bringing together, managing, and analyzing business data, including artificial intelligence tools.
- International Business Machines Corporation (IBM) (IBM) — Business data, analytics, and artificial intelligence software and services.
- C3.ai (AI) — Artificial intelligence software used by businesses and government organizations.
- Leidos (LDOS) — Government technology work, including software and systems for defense and other public-sector customers.

### What it depends on

- Palantir relies on computing services from third parties, including Amazon Web Services and Microsoft, for some customer systems and software operations.
- AIP connects to large language models provided by other companies or hosted by customers, so access to and compatibility with those models matters.
- A meaningful portion of revenue comes from government customers, whose purchasing can depend on budgets, contract awards, procurement rules, and required security clearances.
- The company’s contracts often involve customer-specific setup and support, and some customers can terminate contracts for convenience.

### What could go wrong

- A relatively small number of customers account for a substantial portion of revenue; if major customers do not renew, expand, or continue their contracts, revenue could fall.
- Government sales can be affected by budget changes, delays in contract awards, shifts in spending priorities, procurement rules, and requirements for employee and facility security clearances.
- Palantir’s software can be complex to implement, and failures in its software, security, privacy controls, or artificial intelligence features could disrupt customer operations, harm its reputation, or lead to lost business or legal claims.

## More on this company

- [Overview](https://inspectstocks.com/stocks/pltr)
- [Financial statements](https://inspectstocks.com/stocks/pltr/financials)
- [Competitors](https://inspectstocks.com/stocks/pltr/peers)
- [Earnings](https://inspectstocks.com/stocks/pltr/earnings)

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Source: InspectStocks, built from the company’s own SEC filings. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.