Earnings quality
Compare earnings and operating cash flow for earnings quality.
Palantir Technologies
Ticker PLTR · 🇺🇸 United States · Consolidated US GAAP · amounts in dollars
Filed 2026-02-17 · Period end 2025-12-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 31.6%; equity ratio is 83.0%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin31.6%
Equity ratio83.0%
Last priceUSD 184.11
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
Palantir Technologies Inc. is a US-listed company with consolidated financial statements filed on SEC EDGAR.
Compare trends
Tel 720-358-3679 · As of filing date 2026-02-17
Financial statements
Income statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Revenue | $2.9B | $4.5B |
| Cost of sales* | $566.0M | $789.2M |
| Gross profit | $2.3B | $3.7B |
| Operating profit | $310.4M | $1.4B |
| Income tax | $21.3M | $22.7M |
| Net income | $462.2M | $1.6B |
| Basic EPS | — | — |
Balance sheet
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Cash & equivalents | $2.1B | $1.4B |
| Current assets | $5.9B | $8.4B |
| Non-current assets* | $406.6M | $542.2M |
| Total assets | $6.3B | $8.9B |
| Current liabilities | $996.0M | $1.2B |
| Non-current liabilities* | $250.5M | $236.8M |
| Total liabilities | $1.2B | $1.4B |
| Stockholders’ equity | $5.0B | $7.4B |
Cash flow statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Operating cash flow | $1.2B | $2.1B |
| Investing cash flow | -$340.7M | -$2.8B |
| Financing cash flow | $463.4M | -$26.9M |
| Cash at end of period | $2.1B | $1.4B |
Five-year trends
Key metrics
| Metric | Trend | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $1.5B | $1.9B | $2.2B | $2.9B | $4.5B | |
| Operating profit | -$411.0M | -$161.2M | $120.0M | $310.4M | $1.4B | |
| Net income | -$520.4M | -$373.7M | $209.8M | $462.2M | $1.6B | |
| Total assets | $3.2B | $3.5B | $4.5B | $6.3B | $8.9B | |
| Cash & equivalents | $2.3B | $2.6B | $831.0M | $2.1B | $1.4B | |
| Stockholders’ equity | $2.3B | $2.6B | $3.5B | $5.0B | $7.4B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Constructive
Sales and operating profit both moved in a healthier direction.
On the income statement, revenue moved from $2.9B to $4.5B (▲ +56.2%). Operating profit went from $310.4M to $1.4B (▲ +355.5%).
Operating cash flow was $2.1B (prior $1.2B), with cash on the balance sheet at $1.4B versus $2.1B.
Liquidity & leverage
Cash moved from $2.1B to $1.4B; current liabilities $1.2B.
Capital buffer
Stockholders’ equity moved from $5.0B to $7.4B.
Was this page helpful?
Source: SEC EDGAR 0001321655-26-000011
(Palantir Technologies Inc.), period end 2025-12-31.