PLTRPalantir Technologies Inc.
Services-Prepackaged Software
- Revenue
- $4.5B
- 56% YoY
- Operating margin
- 31.6%
- 192% YoY
- EBITDA
- $1.4B
- 321% YoY
- Market cap
- $442.4B
- Employees
- 4,429
- $1M revenue each
- Net debt / EBITDA
- -1.4×
- −$2.0B net debt
- AI in 10-K
- 9.7
- mentions per 10K words
Takeover score 4 of 13
Fixable underperformance 2 of 7
- TSR below peersYes3 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$5M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo131% of net incomeCash flow under 80% of net income
- Dilutive SBCYes15% of revenueOver 10% of revenue
- Payouts exceed cash flowNo4% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo0% of assetsOver 40% of assets
- Shareholder dissentNo85% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$1M · 79th pctBottom quartile of its SIC industry
- Quiet on AINo9.7 per 10K words · 92nd pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 1.4× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedNo$442.4B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$877M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.5B | $1.9B | $2.2B | $2.9B | $4.5B | 56% |
| Operating income | −$411M | −$161M | $120M | $310M | $1.4B | 356% |
| Net income | −$520M | −$374M | $210M | $462M | $1.6B | 252% |
| Operating cash flow | $334M | $224M | $712M | $1.2B | $2.1B | 85% |
| Capex | $13M | $40M | $15M | $13M | $34M | 168% |
| Stock-based comp | $778M | $565M | $476M | $692M | $684M | 1.1% |
| Buybacks | $0 | $0 | $0 | $64M | $75M | 17% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $877M · 322
- Net
- −$877M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $9M | $11.1B | 755 | 258 |
| FY2024 | $5M | $6.8B | 321 | 208 |
| FY2023 | $3M | $1.1B | 73 | 152 |
| FY2022 | $5M | −$1.7B | 27 | 97 |
| FY2021 | $4M | −$894M | 77 | 135 |