Palantir Technologies

PLTR

Software - Infrastructure · Technology

Price

$179.94

+5.98 (+3.44%)

Market Cap

$413.15B

Exchange

NASDAQ

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Exceptional

Growth

Exceptional

Cash Flow

Exceptional

Stability

Exceptional

Valuation

Good

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Share count rising — dilution

+33.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 1.92B (2021) → 2.57B (2025)

Winston Score History

The full picture

Palantir Technologies builds software that helps large organizations make sense of massive amounts of data. Its main products are Gotham, used by government agencies and militaries to analyze intelligence and plan operations, and Foundry, used by corporations to connect and analyze data across their businesses. A newer platform called AIP adds artificial intelligence tools on top of both. Palantir is one of the few companies with deep, long-standing contracts inside the US defense and intelligence community.

Palantir earns money by charging customers subscription and licensing fees to use its platforms. It operates primarily in the United States and Europe, with US government work making up a large share of revenue. The company's moat comes from how deeply its software gets embedded into a customer's operations — switching costs are very high once Palantir is installed. The key growth driver is expanding its commercial business, particularly AIP adoption among US corporations, but the stock trades at a very high valuation relative to earnings, which creates risk if growth slows.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+92.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+221.4% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$558M/ year

↑ Rising (+10% vs prior year)

12.5% of revenue

In line with sector average (15%)

Investing heavily in future products and technology

Insider Activity

4.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$9.4B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Palantir Technologies grew revenue 93% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

84.7%

Premium pricing power — 84.7% gross margin

Profit after running costs

Operating Margin

47.1%

Excellent — 47.1% operating margin

Return on the money invested

ROCE

26.4%

Exceptional — 26.4% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+78.9%

Fast-growing sales (+78.9% YoY)

Profit growth

EPS YoY

+285.8%

Earnings growing fast (+285.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

113%

Turns 113% of profit into real cash

Spare cash per sale

FCF Margin

54.6%

Converts sales into free cash efficiently (54.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.02

Conservative — low debt load (0.02)

Covers its interest

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

141.7x

Expensive — P/E 141.7

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+101.6

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (141.7 → 40.1)

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Dividends

Not applicable for this business.

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