Explain this page
Arphra AIPlain-English read on Palantir Technologies Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +77.99% | +78.56% | +80.62% | +80.25% | +82.37% | +80.12% | +83.51% | +81.26% | +79.57% |
| Operating margin | -26.66% | -8.46% | +5.39% | +10.83% | +31.59% | +15.93% | +15.87% | +16.05% | +16.29% |
| EBITDA margin | -30.48% | -7.28% | +6.89% | +11.93% | +32.18% | +16.69% | +17.29% | +17.22% | +17.12% |
| EBIT margin | -31.45% | -8.46% | +5.39% | +10.83% | +31.59% | +15.89% | +15.72% | +16.05% | +16.41% |
| Pre-tax margin | -31.68% | -18.94% | +10.66% | +17.07% | +37.03% | +21.71% | +21.21% | +21.99% | +20.98% |
| Net margin | -33.75% | -19.61% | +9.43% | +16.13% | +36.31% | +15.99% | +15.65% | +15.89% | +16.27% |
| Cost structure | |||||||||
| Cost of revenue / sales | +22.01% | +21.44% | +19.38% | +19.75% | +17.63% | +18.78% | +19.07% | +18.62% | +18.77% |
| R&D intensity | +25.13% | +18.87% | +18.19% | +17.72% | +12.46% | +15.65% | +15.81% | +15.78% | +15.78% |
| SG&A intensity | +79.52% | +68.15% | +57.05% | +51.69% | +38.31% | +47.65% | +49.30% | +47.82% | +48.33% |
| Effective tax rate | — | — | +8.32% | +4.35% | +1.37% | +4.77% | +4.72% | +4.47% | +4.92% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | -22.71% | -14.14% | +5.89% | +9.07% | +21.70% | +9.35% | +9.41% | +9.69% | +9.54% |
| Return on assets (ROA) | -16.02% | -10.80% | +4.64% | +7.29% | +18.26% | +7.89% | +7.51% | +7.56% | +7.97% |
| Return on capital (ROC) | -16.11% | -5.57% | +3.17% | +5.82% | +18.32% | +8.91% | +9.11% | +9.34% | +9.14% |
| Return on invested capital (ROIC) | -12.08% | -4.18% | +5.54% | +8.67% | +21.06% | +8.94% | +8.99% | +9.25% | +9.13% |
| Asset turnover | +47.48% | +55.06% | +49.20% | +45.19% | +50.28% | +49.34% | +47.98% | +47.59% | +48.98% |
| DuPont · ROE decomposition | |||||||||
| Net margin | -33.75% | -19.61% | +9.43% | +16.13% | +36.31% | +15.99% | +15.65% | +15.89% | +16.27% |
| Asset turnover (× revenue / assets) | +47.48% | +55.06% | +49.20% | +45.19% | +50.28% | +49.34% | +47.98% | +47.59% | +48.98% |
| Equity multiplier (× assets / equity) | +141.75% | +130.99% | +127.00% | +124.47% | +118.86% | +118.60% | +125.33% | +128.23% | +119.78% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.47 | 0.55 | 0.49 | 0.45 | 0.50 | 0.49 | 0.48 | 0.48 | 0.49 |
| Fixed-asset turnover | 6.21 | 7.07 | 9.65 | 11.92 | 17.76 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 8.08 | 7.38 | 6.10 | 4.98 | 4.29 | — | — | — | — |
| Payables turnover | 4.53 | 9.12 | 35.56 | 5495.05 | 97.86 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 45.20 | 49.48 | 59.84 | 73.25 | 84.99 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 80.56 | 40.01 | 10.26 | 0.07 | 3.73 | — | — | — | — |
| Cash conversion cycle | -35.36 | 9.46 | 49.58 | 73.18 | 81.26 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | -0.64 | -0.60 | 3.39 | 2.50 | 1.31 | 2.48 | 2.56 | 2.53 | 2.44 |
| FCF / Net income | -0.62 | -0.49 | 3.32 | 2.47 | 1.29 | 2.42 | 2.49 | 2.47 | 2.44 |
| FCF margin | +20.83% | +9.64% | +31.33% | +39.83% | +46.94% | +38.64% | +38.93% | +39.16% | +39.61% |
| OCF margin | +21.65% | +11.74% | +32.01% | +40.27% | +47.69% | +39.60% | +40.01% | +40.14% | +39.77% |
| CapEx / Revenue | +0.82% | +2.10% | +0.68% | +0.44% | +0.76% | +0.62% | +0.64% | +0.63% | +0.61% |
| CapEx / D&A | 0.85 | 1.78 | 0.45 | 0.40 | 1.30 | — | — | — | — |
| Stock-based comp / Revenue | +50.47% | +29.63% | +21.39% | +24.14% | +15.28% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | -0.27 | -0.18 | 0.09 | 0.19 | 0.63 | 1.46 | 2.08 | 3.06 | 7.99 |
| EPS · basic | -0.27 | -0.18 | 0.10 | 0.21 | 0.69 | 1.58 | 2.23 | 3.35 | 8.80 |
| Book value / share | 1.19 | 1.28 | 1.55 | 2.08 | 2.92 | 5.14 | 7.32 | 10.39 | 27.61 |
| Tangible BV / share | 1.19 | 1.28 | 1.54 | 2.07 | 2.92 | 5.14 | 7.32 | 10.39 | 27.61 |
| Sales / share | 0.80 | 0.92 | 0.97 | 1.17 | 1.74 | 3.01 | 4.40 | 6.34 | 16.20 |
| Operating CF / share | 0.17 | 0.11 | 0.31 | 0.47 | 0.83 | 1.19 | 1.76 | 2.55 | 6.44 |
| Free cash flow / share | 0.17 | 0.09 | 0.30 | 0.47 | 0.82 | 1.16 | 1.71 | 2.48 | 6.42 |
| Dividends / share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Payout ratio | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Retention ratio | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +23.61% | +16.75% | +28.79% | +56.18% | +72.51% | +45.19% | +45.22% | +156.64% | +51.05% |
| Gross profit · YoY | — | +24.52% | +19.81% | +28.18% | +60.31% | +67.80% | +51.32% | +41.32% | +151.30% | +51.43% |
| Profit | ||||||||||
| Operating income · YoY | — | +60.78% | +174.42% | +158.74% | +355.54% | -13.01% | +44.64% | +46.84% | +160.56% | — |
| EBITDA · YoY | — | +70.49% | +210.56% | +123.06% | +321.11% | -10.53% | +50.38% | +44.67% | +155.10% | — |
| Net income · YoY | — | +28.19% | +156.15% | +120.27% | +251.59% | -24.06% | +42.13% | +47.43% | +162.75% | — |
| Operating | ||||||||||
| EBIT · YoY | — | +66.75% | +174.42% | +158.74% | +355.54% | -13.27% | +43.70% | +48.26% | +162.29% | — |
| R&D · YoY | — | -7.18% | +12.50% | +25.52% | +9.81% | +116.67% | +46.63% | +44.94% | +156.64% | +42.51% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +33.33% | +150.72% | +108.11% | +231.58% | +131.33% | +42.57% | +47.16% | +161.32% | — |
| EPS · basic · YoY | — | +33.33% | +154.28% | +114.94% | +228.57% | +129.57% | +40.94% | +49.97% | +162.88% | — |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $260.07M | $249.4M | $229.39M | $239.22M | $229.34M | $608.07M | $881.98M | $1.29B | $3.26B |
| Net debt | -$2.03B | -$2.35B | -$601.66M | -$1.86B | -$1.19B | -$3.12B | -$4.44B | -$6.5B | -$16.99B |
| Net debt / EBITDA | 4.32 | 16.94 | -3.92 | -5.44 | -0.83 | -2.42 | -2.29 | -2.32 | -2.38 |
| Debt / equity | 0.11 | 0.09 | 0.06 | 0.05 | 0.03 | 0.05 | 0.05 | 0.05 | 0.05 |
| Debt / assets | +8.01% | +7.21% | +5.07% | +3.77% | +2.58% | +3.89% | +3.78% | +3.77% | +3.82% |
| Equity / assets | +70.55% | +76.34% | +78.74% | +80.34% | +84.13% | +84.32% | +79.79% | +77.99% | +83.48% |
| Coverage | |||||||||
| EBITDA / interest expense | -129.11 | -34.17 | 44.18 | — | — | 316.40 | 335.67 | 333.22 | 336.87 |
| Operating income / interest | -112.92 | -39.72 | 34.57 | — | — | 302.04 | 308.21 | 310.55 | 320.66 |
| Interest expense | $3.64M | $4.06M | $3.47M | $0 | $0 | $4.07M | $5.77M | $8.41M | $21.23M |
| Liquidity | |||||||||
| Current ratio | 4.34 | 5.17 | 5.55 | 5.96 | 7.11 | — | — | — | — |
| Quick ratio | 4.11 | 4.92 | 5.41 | 5.83 | 6.99 | — | — | — | — |
| Cash ratio | 3.47 | 4.42 | 1.11 | 2.11 | 1.21 | — | — | — | — |
| Working capital | $2.2B | $2.45B | $3.39B | $4.94B | $7.18B | — | — | — | — |
| Working capital / revenue | +142.89% | +128.74% | +152.48% | +172.33% | +160.49% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).