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Planet Labs PBC

PL
31
Aerospace & Defense · Industrials
Winston Score
31
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Apr 30, 2026
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Mixed
Stability
Weak
Valuation
Data not available

Winston Score History

The full picture

Planet Labs operates a fleet of small satellites that take pictures of Earth every day. These images are sold to governments, agricultural companies, environmental groups, and financial firms that need up-to-date views of things like crop fields, construction sites, or military activity. Planet runs the largest commercial constellation of Earth-imaging satellites in the world.

The company makes money by charging customers subscription fees to access its image library and data analytics tools. It operates globally, serving clients across more than 70 countries, and generates roughly $200–250 million in annual revenue. Its main competitive advantage is the sheer size of its satellite fleet, which allows it to image nearly the entire Earth every single day — something few competitors can match. The biggest risk is that Planet continues to lose money at the operating level, and it will need either strong revenue growth or significant cost cuts to reach profitability.

Growth Profile

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

Revenue Growth

+41.1% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-300.0% YoY

YoY Growth Rate

Earnings declining

Insider Activity

11.4%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↑ Burn rate improving

$640M cash & investments at current burn rate

Revenue accelerating

Planet Labs PBC grew revenue 41% 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.

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Quality

Profit per sale
Gross Margin
53.5%
Healthy — 53.5% gross margin
Profit after running costs
Operating Margin
-37.1%
Losing money on operations — -37.1%
Return on the money invested
ROCE
-12.0%
Weak — -12.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+34.1%
Fast-growing sales (+34.1% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
14.1%
Converts sales into free cash efficiently (14.1%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
1.01
Elevated debt (1.01)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
no trend
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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