PLTR Palantir Technologies Inc.

Overview and Growth

Fiscal 2025 results for Palantir Technologies Inc. combined $4.48B of revenue with net income of $1.63B and an operating cash inflow of $2.13B. Revenue of $4.48B sets the scale for evaluating how effectively sales translated into profit and cash during the year. The top line expanded 56.2% from $2.87B in fiscal 2024, increasing the company’s operating scale. Diluted earnings per share were $0.63, translating the period’s attributable earnings into the amount reported for each diluted share. Against diluted EPS of $0.19 in fiscal 2024, the current result was 231.6% higher. The revenue-to-assets relationship was 0.5x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The first profit layer was $3.69B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 82.4%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operating income was $1.41B, the earnings remaining from reported operations after the company’s recognized operating cost structure. Operating margin measured 31.6%, showing the portion of revenue preserved after the full set of operating costs. Net income came to $1.63B, completing the progression from revenue through gross and operating profitability to the final reported result. The final earnings result represented 36.3% of revenue, connecting the absolute net income figure with the company’s top-line scale. The earnings statement records $1.66B of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 37.0% of revenue, placing earnings before tax in the context of the company’s operating scale. Income tax expense totaled $22.72M, providing the reported tax component that separates pretax and after-tax earnings. The income-tax provision equaled 1.4% of pretax income, showing the tax burden absorbed by the year’s earnings. Net income equaled 21.7% of period-end equity, showing the earnings generated on shareholders’ book capital. Return on period-end assets was 18.3%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

The company held $8.90B of assets against $1.41B of liabilities and $7.49B of equity, revealing how the asset base was financed. Current assets were $8.36B against $1.18B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. The current ratio was 7.11x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Cash and equivalents totaled $1.42B, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 121.1% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The liabilities-to-assets relationship was 15.9%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 16.0%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 40.4% from $6.34B in fiscal 2024, leaving current total assets higher year over year.

Cash Flow and Earnings Quality

The company reported $2.13B of operating cash flow, a cash inflow that shows the cash generated by operations. Against net income, operating cash flow measured 1.31x, showing the relationship between accrual earnings and operating cash. Capital expenditures used $33.88M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital spending absorbed 1.6% of operating cash flow, quantifying the share of cash from operations directed to investment. Free cash flow came to $2.10B, leaving a positive amount after capital expenditures. The free-cash-flow margin was 46.9%, measuring cash remaining after capital spending against revenue. The free-cash-flow-to-assets relationship was 23.6%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.