PLTR Palantir Technologies Inc. - Class A Common Stock

NASDAQ · Technology · View on SEC EDGAR ↗
$134.80
Price · May 20, 2026
Fundamentals as of May 5, 2026
52W Range
$119–$208
18% of range
Analyst Rating
BUY
38 analysts
Price Target
$184
+36% upside
P/E (TTM)
282.1
ROE
26.2%
Net Profit Margin
36.3%

PLTR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$134.80
Market Cap
$425.03B
P/E (TTM)
282.1
EPS (TTM)
$0.63
Revenue (TTM)
$4.48B
Div Yield
—
ROE
26.2%
Debt/Equity
—
52W Range
$119 – $208

PLTR Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $4.48B
8-point trend, +651.7%
2018-12-31 → 2025-12-31
EPS $0.63
8-point trend, +153.8%
2018-12-31 → 2025-12-31
Free Cash Flow $2.10B
6-point trend, +780.1%
2020-12-31 → 2025-12-31
Margins 36.3%
6-point trend, +21.6%
2020-12-31 → 2025-12-31

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
PLTR
Peer Median
P/E (TTM)
5-point trend, +518.3%
282.1
50.5
P/S (TTM)
5-point trend, +296.6%
95.0
4.4
P/B
5-point trend, +257.0%
57.5
6.8
Price / FCF
5-point trend, +76.0%
202.3
—

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
PLTR
Peer Median
Gross Margin
5-point trend, +5.6%
82.4%
69.4%
Operating Margin
5-point trend, +218.5%
31.6%
—
Net Profit Margin
5-point trend, +207.6%
36.3%
7.4%
ROA
5-point trend, +221.6%
21.3%
4.4%
ROE
5-point trend, +214.4%
26.2%
7.6%
ROIC
5-point trend, +198.8%
18.9%
—

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
PLTR
Peer Median
Current Ratio
5-point trend, +63.9%
7.1
1.9
Quick Ratio
5-point trend, +69.9%
7.0
—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
PLTR
Peer Median
Revenue YoY
5-point trend, +190.3%
56.2%
—
Revenue CAGR 3Y
5-point trend, +190.3%
32.9%
—
Revenue CAGR 5Y
5-point trend, +190.3%
32.6%
—
EPS YoY
5-point trend, +333.3%
231.6%
—
Net Income YoY
5-point trend, +412.3%
251.6%
—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
PLTR
Peer Median
EPS (Diluted)
5-point trend, +333.3%
$0.63
—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
PLTR
Peer Median

PLTR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 38 analysts
  • Strong Buy 11 28.9%
  • Buy 15 39.5%
  • Hold 10 26.3%
  • Sell 1 2.6%
  • Strong Sell 1 2.6%

12-Month Price Target

27 analysts · 2026-05-14
Median target $200.00 +48.4%
Mean target $183.73 +36.3%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.02%
Period EPS Actual EPS Est Surprise
March 31, 2026 $0.33 $0.28 0.05%
Dec. 31, 2025 $0.25 $0.23 0.02%
Sept. 30, 2025 $0.21 $0.17 0.04%
June 30, 2025 $0.16 $0.14 0.02%
March 31, 2025 $0.13 $0.13 -0.00%

Peer Comparison Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
PLTR $425.03B 282.1 56.2% 36.3% 26.2% 82.4%
APP $227.96B 69.1 70.0% 60.8% 201.9% —
CRM $197.22B 27.2 9.6% 18.0% 12.4% 77.7%
INTU $219.15B 57.4 15.6% 20.5% 20.5% —
ADBE $132.21B 19.2 10.5% 30.0% 61.8% 89.3%
CDNS $84.96B 77.0 14.1% 20.9% 21.2% —
SNPS $84.41B 56.4 15.1% 18.9% 7.1% 77.0%
DDOG $47.94B 438.7 27.7% 3.1% 3.1% 80.0%
MSTR — -10.0 3.0% -806.3% -8.4% 68.7%
ADSK $53.90B 48.6 17.5% 15.6% 39.0% 91.0%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 18
Annual Income Statement data for PLTR
Metric Trend 20252024202320222021202020192018
Revenue 8-point trend, +651.7% $4.48B $2.87B $2.23B $1.91B $1.54B $1.09B $743M $595M
Cost of Revenue 8-point trend, +377.1% $789M $566M $431M $409M $339M $353M $242M $165M
Gross Profit 8-point trend, +757.3% $3.69B $2.30B $1.79B $1.50B $1.20B $740M $500M $430M
R&D Expense 8-point trend, +95.4% $558M $508M $405M $360M $387M $561M $306M $285M
SG&A Expense 8-point trend, +114.8% $658M $593M $524M $596M $612M $669M $321M $306M
Operating Expenses 8-point trend, +115.7% $2.27B $1.99B $1.67B $1.66B $1.61B $1.91B $1.08B $1.05B
Operating Income 8-point trend, +326.8% $1.41B $310M $120M $-161M $-411M $-1.17B $-576M $-623M
Interest Expense 6-point trend, +0.9% · · $3M $4M $4M $14M $3M $3M
Interest Income 8-point trend, +2082.7% $229M $197M $133M $20M $2M $5M $15M $10M
Other Non-op 8-point trend, +637.2% $14M $-18M $-15M $-220M $-75M $4M $-3M $-3M
Pretax Income 8-point trend, +390.3% $1.66B $489M $237M $-361M $-488M $-1.18B $-567M $-571M
Income Tax 8-point trend, +149.7% $23M $21M $20M $10M $32M $-13M $12M $9M
Net Income 8-point trend, +380.2% $1.63B $462M $210M $-374M $-520M $-1.17B $-580M $-580M
EPS (Basic) 8-point trend, +162.2% $0.69 $0.21 $0.10 $-0.18 $-0.27 $-1.19 $-1.02 $-1.11
EPS (Diluted) 8-point trend, +153.8% $0.63 $0.19 $0.09 $-0.18 $-0.27 $-1.20 $-1.02 $-1.17
Shares (Basic) 8-point trend, +341.0% 2,369,612,000 2,250,163,000 2,147,446,000 2,063,793,000 1,923,617,000 977,722,000 576,959,000 537,280,394
Shares (Diluted) 8-point trend, +371.5% 2,565,197,000 2,450,818,000 2,297,927,000 2,063,793,000 1,923,617,000 979,330,000 576,959,000 544,014,393
EBITDA 6-point trend, +224.2% $1.44B $342M $153M $-139M $-396M $-1.16B · ·
Balance Sheet 27
Annual Balance Sheet data for PLTR
Metric Trend 20252024202320222021202020192018
Cash & Equivalents 8-point trend, +27.5% $1.42B $2.10B $831M $2.60B $2.29B $2.01B $1.08B $1.12B
Short-term Investments 5-point trend, +2357.0% $5.75B $3.13B $2.84B $35M $234M · · ·
Receivables 7-point trend, +1971.1% $1.04B $575M $365M $258M $191M $157M $50M ·
Prepaid Expense 7-point trend, +326.8% $139M $129M $100M $150M $111M $52M $33M ·
Current Assets 7-point trend, +588.4% $8.36B $5.93B $4.14B $3.04B $2.86B $2.26B $1.21B ·
PP&E (Net) 7-point trend, +64.5% $52M $40M $48M $69M $31M $30M $32M ·
PP&E (Gross) 7-point trend, +43.4% $201M $163M $150M $152M $101M $118M $140M ·
Accum. Depreciation 7-point trend, +37.3% $149M $123M $102M $82M $70M $88M $109M ·
Goodwill 2-point trend, +1929.9% · · · $38M $2M · · ·
Intangibles 4-point trend, +370.8% · $18M $26M $36M $4M · · ·
Other Non-current Assets 7-point trend, +274.0% $290M $166M $153M $150M $96M $107M $78M ·
Total Assets 7-point trend, +458.4% $8.90B $6.34B $4.52B $3.46B $3.25B $2.69B $1.59B ·
Accounts Payable 7-point trend, -84.4% $8M $103.0K $12M $45M $75M $16M $52M ·
Accrued Liabilities 7-point trend, +180.9% $356M $427M $223M $173M $156M $159M $127M ·
Current Liabilities 7-point trend, +61.3% $1.18B $996M $746M $588M $660M $604M $729M ·
Capital Leases 6-point trend, -20.2% $183M $195M $175M $204M $220M $230M · ·
Other Non-current Liabilities 7-point trend, -90.9% $7M $14M $11M $13M $2M $4M $78M ·
Total Liabilities 7-point trend, -2.4% $1.41B $1.25B $961M $819M $956M $1.17B $1.45B ·
Total Debt 2-point trend, -100.0% · · · · $0 $198M · ·
Common Stock 7-point trend, +306.6% $2M $2M $2M $2M $2M $2M $588.0K ·
Paid-in Capital 7-point trend, +488.7% $10.93B $10.19B $9.12B $8.43B $7.78B $6.49B $1.86B ·
Retained Earnings 7-point trend, +6.2% $-3.56B $-5.19B $-5.65B $-5.86B $-5.49B $-4.97B $-3.80B ·
Treasury Stock 2-point trend, -100.0% · · · · · $0 $39M ·
AOCI 7-point trend, +2083.2% $14M $-6M $801.0K $-5M $-2M $-3M $-703.0K ·
Stockholders' Equity 8-point trend, +521.8% $7.39B $5.00B $3.48B $2.57B $2.29B $1.52B $-1.98B $-1.75B
Liabilities + Equity 7-point trend, +458.4% $8.90B $6.34B $4.52B $3.46B $3.25B $2.69B $1.59B ·
Shares Outstanding 7-point trend, +311.2% 2,391,192,000 2,338,795,000 2,200,128,000 2,099,075,000 2,027,474,000 1,792,140,000 581,497,000 ·
Cash Flow 16
Annual Cash Flow data for PLTR
Metric Trend 20252024202320222021202020192018
D&A 8-point trend, +88.0% $26M $32M $33M $23M $15M $14M $12M $14M
Stock-based Comp 8-point trend, +175.3% $684M $692M $476M $565M $778M $1.27B $242M $249M
Deferred Tax 8-point trend, +44.0% $-4M $-566.0K $-5M $-174.0K $43M $-20M $-7M $-7M
Amort. of Intangibles 3-point trend, +7800000.00 · $8M $10M $0 · · · ·
Other Non-cash 6-point trend, +50.1% $-197M $-31M $-2M $10M $18M $-394M · ·
Operating Cash Flow 8-point trend, +5571.3% $2.13B $1.15B $712M $224M $334M $-297M $-165M $-39M
CapEx 8-point trend, +160.6% $34M $13M $15M $40M $13M $12M $13M $13M
Investing Cash Flow 8-point trend, -40931.1% $-2.78B $-341M $-2.71B $-45M $-398M $-15M $-22M $-7M
Stock Issued 5-point trend, -100.0% · · · $0 $0 $199M $544M $96M
Stock Repurchased 8-point trend, +873.1% $75M $64M $0 $0 $0 $4M $11M $8M
Net Stock Activity 5-point trend, -108.0% $-75M $-64M · $0 $0 $939M · ·
Financing Cash Flow 8-point trend, -158.3% $-27M $463M $219M $86M $307M $1.04B $325M $46M
Net Change in Cash 8-point trend, -19885.4% $-669M $1.27B $-1.78B $260M $239M $726M $135M $-3M
Taxes Paid 8-point trend, +26.8% $22M $16M $14M $3M $4M $14M $9M $17M
Free Cash Flow 6-point trend, +780.1% $2.10B $1.14B $697M $184M $321M $-309M · ·
Levered FCF 4-point trend, +314.9% · · $694M $180M $317M $-323M · ·
Profitability 8
Annual Profitability data for PLTR
Metric Trend 20252024202320222021202020192018
Gross Margin 6-point trend, +21.6% 82.4% 80.2% 80.6% 78.6% 78.0% 67.7% · ·
Operating Margin 6-point trend, +129.4% 31.6% 10.8% 5.4% -8.5% -26.7% -107.4% · ·
Net Margin 6-point trend, +134.0% 36.3% 16.1% 9.4% -19.6% -33.8% -106.7% · ·
Pretax Margin 6-point trend, +134.3% 37.0% 17.1% 10.7% -18.9% -31.7% -107.9% · ·
EBITDA Margin 6-point trend, +130.3% 32.2% 11.9% 6.9% -7.3% -25.7% -106.1% · ·
ROA 6-point trend, +139.2% 21.3% 8.5% 5.3% -11.1% -17.5% -54.4% · ·
ROE 6-point trend, +131.2% 26.2% 10.9% 7.0% -15.2% -22.9% -84.1% · ·
ROIC 6-point trend, +128.0% 18.9% 5.9% 3.2% -6.5% -19.1% -67.5% · ·
Liquidity & Solvency 5
Annual Liquidity & Solvency data for PLTR
Metric Trend 20252024202320222021202020192018
Current Ratio 6-point trend, +90.2% 7.1 6.0 5.5 5.2 4.3 3.7 · ·
Quick Ratio 6-point trend, +94.7% 7.0 5.8 5.4 4.9 4.1 3.6 · ·
Debt / Equity 2-point trend, -100.0% · · · · 0.0 0.1 · ·
LT Debt / Equity 2-point trend, -100.0% · · · · 0.0 0.1 · ·
Interest Coverage 4-point trend, +141.6% · · 34.6 -39.7 -112.9 -83.0 · ·
Efficiency 2
Annual Efficiency data for PLTR
Metric Trend 20252024202320222021202020192018
Asset Turnover 6-point trend, +15.1% 0.6 0.5 0.6 0.6 0.5 0.5 · ·
Receivables Turnover 6-point trend, -47.5% 5.5 6.1 7.1 8.5 8.9 10.5 · ·
Per Share 5
Annual Per Share data for PLTR
Metric Trend 20252024202320222021202020192018
Book Value / Share 6-point trend, +263.6% $3.09 $2.14 $1.58 $1.22 $1.13 $0.85 · ·
Revenue / Share 6-point trend, +56.4% $1.74 $1.17 $0.97 $0.92 $0.80 $1.12 · ·
Cash Flow / Share 6-point trend, +374.7% $0.83 $0.47 $0.31 $0.11 $0.17 $-0.30 · ·
Cash / Share 6-point trend, -46.9% $0.60 $0.90 $0.38 $1.24 $1.13 $1.12 · ·
EPS (TTM) 6-point trend, +152.5% $0.63 $0.19 $0.09 $-0.18 $-0.27 $-1.20 · ·
Growth Rates 5
Annual Growth Rates data for PLTR
Metric Trend 20252024202320222021202020192018
Revenue YoY 5-point trend, +36.7% 56.2% 28.8% 16.8% 23.6% 41.1% · · ·
Revenue CAGR 3Y 3-point trend, +23.1% 32.9% 22.9% 26.8% · · · · ·
Revenue CAGR 5Y 32.6% · · · · · · ·
EPS YoY 2-point trend, +108.4% 231.6% 111.1% · · · · · ·
Net Income YoY 2-point trend, +109.2% 251.6% 120.3% · · · · · ·
Valuation (TTM) 14
Annual Valuation (TTM) data for PLTR
Metric Trend 20252024202320222021202020192018
Revenue TTM 6-point trend, +309.6% $4.48B $2.87B $2.23B $1.91B $1.54B $1.09B · ·
Net Income TTM 6-point trend, +239.3% $1.63B $462M $210M $-374M $-520M $-1.17B · ·
Market Cap 6-point trend, +907.1% $425.03B $176.88B $37.78B $13.48B $36.92B $42.20B · ·
Enterprise Value 2-point trend, -14.8% · · · · $34.40B $40.39B · ·
P/E 6-point trend, +1537.7% 282.1 398.1 190.8 -35.7 -67.4 -19.6 · ·
P/S 6-point trend, +145.9% 95.0 61.7 17.0 7.1 23.9 38.6 · ·
P/B 6-point trend, +107.6% 57.5 35.4 10.9 5.3 16.1 27.7 · ·
P / Tangible Book 6-point trend, +107.6% 57.5 35.5 11.0 5.4 16.2 27.7 · ·
P / Cash Flow 6-point trend, +239.9% 199.1 153.3 53.0 60.2 110.6 -142.3 · ·
P / FCF 6-point trend, +248.1% 202.3 155.0 54.2 73.4 114.9 -136.7 · ·
EV / EBITDA 2-point trend, -149.3% · · · · -86.8 -34.8 · ·
EV / FCF 2-point trend, +181.9% · · · · 107.1 -130.8 · ·
EV / Revenue 2-point trend, -39.7% · · · · 22.3 37.0 · ·
Earnings Yield 6-point trend, +106.9% 0.35% 0.25% 0.52% -2.8% -1.5% -5.1% · ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $4.48B$2.87B$2.23B$1.91B$1.54B
Gross Margin % 82.4%80.2%80.6%78.6%78.0%
Operating Margin % 31.6%10.8%5.4%-8.5%-26.7%
Net Income $1.63B$462M$210M$-374M$-520M
Diluted EPS $0.63$0.19$0.09$-0.18$-0.27
Balance Sheet
2025-12-312024-12-312023-12-312022-12-312021-12-31
Debt / Equity ————0.0
Current Ratio 7.16.05.55.24.3
Quick Ratio 7.05.85.44.94.1
Cash Flow
2025-12-312024-12-312023-12-312022-12-312021-12-31
Free Cash Flow $2.10B$1.14B$697M$184M$321M

PLTR AI Analyst Panel — Bullish and Bearish Views 2026Q2 debate: Claude, Grok, Gemini, ChatGPT on the stock's prospects

Round 1 — Opening Takes

Grok NEUTRAL 0.85
↑ Bullish

Palantir's AI platforms are scaling rapidly in government and enterprise deals, delivering software-like margins with no debt drag. Gross margin stays steady at 80.81%. That pricing power lets them keep costs low as revenue explodes from data services. Net margin climbed to 28.11%. Profits are surging as a share of sales, proving the business model works at scale. ROE improved to 19.09%. Shareholders see strong returns without leverage, a rare feat in tech.

↓ Bearish

Palantir's valuation embeds flawless execution forever, but dilution and competition could derail the story. P/E TTM sits at 387x. The market demands endless earnings growth to avoid a sharp correction. P/S TTM at 109x remains flat. Revenue multiples this high signal hype over fundamentals, even for AI plays. Peers like CRM trade at 20x P/E. PLTR looks wildly expensive relative to proven software giants.

Claude NEUTRAL 0.62
↑ Bullish

Palantir's core business is firing — net margins expanded to 28% and EPS grew 42% year-over-year, showing the company is finally converting scale into real profit. The 80% gross margin is fortress-like, and with zero debt and a 6.4 current ratio, the balance sheet can fund growth or weather downturns without dilution pressure. If AI adoption in government and enterprise accelerates as expected, this margin profile scales beautifully. The stock's 386 P/E looks insane until you remember: the earnings base is still tiny, and if they grow into even half that multiple, shareholders win.

↓ Bearish

I see a company priced for perfection in a way that leaves no room for execution stumbles. The P/E of 386 means the market has already baked in years of flawless growth — any miss or slowdown will crater the stock fast. More troubling: the news from April shows political headwinds in the UK around the NHS contract, and Michael Burry's short thesis is getting louder, not quieter. Most critically, forward dilution from stock-based compensation will erode per-share value even if revenue keeps climbing. At this valuation, you need not just growth — you need growth that accelerates, and I see no evidence of that inflection yet.

Gemini NEUTRAL 0.60
↑ Bullish

Palantir is effectively building the operating system for modern government and enterprise data, creating a moat that is difficult for competitors to bridge. The company maintains an 80.81% gross margin, which shows they are selling a high-value software product that costs very little to deliver at scale. With a debt-to-equity ratio of 0.0, they are operating with a pristine balance sheet that gives them total flexibility to invest in growth without being beholden to creditors. This financial independence is a massive advantage as they continue to capture market share in complex, high-stakes analytics environments.

↓ Bearish

The current valuation assumes a level of perfection that leaves absolutely no room for error or political headwinds. The stock trades at a price-to-earnings multiple of 386.77, which means investors are paying a massive premium for future earnings that may take years to materialize. We also have to acknowledge the political friction, such as the recent pushback against their NHS contract, which creates real execution risk for their government pipeline. A 108.73 price-to-sales ratio confirms that the market has priced in an aggressive growth trajectory that could easily deflate if contract wins stall or regulatory scrutiny intensifies.

Chatgpt NEUTRAL 0.62
↑ Bullish

I think Palantir's margin durability and debt-free balance sheet create a resilient path to growth into 2026Q2. Gross margin 80.81%. That level signals Palantir can expand profitability as usage scales without proportionate cost increases. Debt/Equity 0.0. That means there’s no debt drag, so management can reinvest quickly without interest expense. Current ratio 6.4268. That liquidity cushion reduces financing risk and supports longer-term contracts with customers.

↓ Bearish

I think the strongest bearish case is that the stock trades at extreme multiples with uncertain growth and dilution risk as of 2026Q2. P/E TTM 386.77. That valuation implies the market expects outsized earnings growth to justify price. P/S TTM 108.74. That signals investors pay a premium per dollar of revenue, which is fragile if growth slows. ROE TTM 19.09%. That level isn't extraordinary enough to justify the multiple if future returns disappoint.

Round 2 — Responses & Rebuttals

Grok

ChatGPT, your bearish read on ROE being unremarkable is spot-on and exposes the core valuation flaw. PLTR's 19% ROE trails hyper-growth peers like APP's 263%, yet commands a 387x P/E versus APP's 80x. That gap screams overpayment for unproven sustainability, especially with dilution eroding per-share gains into 2026Q2.

Claude

I need to push back on Grok's peer comparison here. Yes, CRM trades at 20x P/E, but that's not an apples-to-apples frame — Salesforce is a mature, cash-generative business with 28% net margins and a 12% ROE. Palantir's 28% net margin is actually *higher*, and the 19% ROE shows they're generating better returns on shareholder capital than Salesforce despite being earlier in their growth curve. The P/E gap reflects growth rate, not valuation excess. If Palantir's EPS compounds at even 25% annually — well below what the data suggests — that 387x multiple compresses fast. Grok's using a stable-business multiple to price a scaling business, and that's the real flaw.

Gemini

Grok, your focus on the P/S ratio is spot on, but I think you are underestimating the structural shift in their revenue quality. A P/S ratio of 108.74 is undeniably steep, but it ignores that Palantir is moving from custom consulting to a scalable software-as-a-service model. That transition is why they maintain an 80.81% gross margin. This high margin indicates that each new dollar of revenue requires almost no additional cost to generate, which is the only way they can eventually grow into that massive valuation. I remain a hold because the execution risk is high, but the platform's stickiness is the real story.

Chatgpt

Grok, I think you're right that the P/E of 386.77x flags risk if growth slows, but I’d push back on treating that as a permanent ceiling. The market is pricing the optionality of AI-enabled Gov/enterprise wins, which could expand margins as scale grows. That implies a long growth runway, but the risk is a miss or policy headwinds. Dilution risk remains—Palantir's equity comp can chip away at per-share value, even with zero debt.

Round 3 — Final Rebuttals

G
Grok

Claude and Gemini, we've circled valuation multiples, but political risk in government contracts -- Palantir's bread and butter -- deserves more weight. On April 17, UK Labour and Lib Dem MPs demanded scrapping the £330m NHS deal, calling it 'shameful' spy-tech. That's direct execution threat to international growth, amplifying US policy risks into 2026Q2. With market cap at $424B, even small pipeline hits compound the 387x P/E fragility.

C
Claude

I want to push back on something nobody's challenged yet: Grok's comparison of Palantir's 19% ROE to APP's 263% ROE as evidence of underperformance. That's a category error. APP's 263% ROE is almost certainly inflated by massive leverage or a tiny equity base — it's not a sustainable operating metric, it's a financial engineering artifact. Palantir's 19% ROE on a debt-free balance sheet is structurally honest. You can't compare them directly. The real question is whether Palantir's ROE expands as the business scales — and the data from 2025Q3 to 2026Q1 shows it climbing from 14.6% to 19.1%. That's the trend that matters, not a misleading peer multiple.

G
Gemini

Grok, I have to challenge your comparison to AppLovin. Using a 263% ROE for a mobile ad-tech firm to critique Palantir is an apples-to-oranges trap. That ROE metric reflects a software-light business model that is entirely different from Palantir’s heavy-duty, mission-critical infrastructure for government and enterprise. Beyond the numbers, we need to talk about the 'AIP' platform adoption curve. Palantir is increasingly embedding their AI agents into the defense industrial base, which creates a level of customer lock-in that traditional SaaS metrics fail to capture. That sticky, multi-year contract base is the real reason they can command such a massive premium.

C
Chatgpt

I choose (c) — I’m widening the frame to regulatory risk around Palantir’s NHS contract. The NHS deal is about £330 million. That exposure matters because policy headwinds can delay deployments or alter terms, reducing visibility and curbing upside for a growth-heavy story like PLTR.

Price Forecasts

Model 3M Target 6M Target Reasoning
G Grok 3M Target $95.00 6M Target $80.00 Reasoning I think Palantir's extreme 387x P/E leaves it primed for multiple compression as political risks hit government revenue, driving shares down from $113 by 2026Q2. Catalyst pushing to my 6-month target: UK Parliament debate outcome on May 15, 2026, scrapping or delaying the £330m NHS contract and sparking contract pipeline fears. Risk breaking thesis: Q2 2026 earnings beat with 40% YoY commercial growth, extending AI hype. That 387x P/E means the market demands endless perfection; peers average 40x, signaling 75% downside potential if growth falters.
C Claude 3M Target $128.00 6M Target $155.00 Reasoning Palantir's margin expansion and ROE climb from 14.6% to 19.1% show the business is finally converting scale into durable profit — that's the thesis. The concrete catalyst is 2026Q2 earnings: if EPS grows 30%+ year-over-year and management raises full-year guidance citing government AI adoption, the market re-rates the multiple from 387x toward 120–150x, compressing valuation risk while rewarding execution. The break-risk is political — if the NHS contract stalls or US government scrutiny intensifies around data sovereignty, pipeline visibility collapses and the stock craters. At 387x P/E, even a modest earnings miss triggers a 25–35% drawdown. My 3-month target assumes consolidation near current levels as political noise persists; 6-month assumes one clean earnings beat re-rates the multiple downward while absolute profit grows, justifying a modest re-rating.
G Gemini 3M Target $125.00 6M Target $140.00 Reasoning My thesis is that Palantir’s platform stickiness will overcome short-term political noise, allowing them to grow into their valuation as government enterprise adoption accelerates. A major catalyst for my 6-month target would be the successful, controversy-free expansion of their NHS data integration project, which would validate their model for other national health systems. Conversely, a formal legislative termination of that contract would break my thesis by signaling a ceiling on their government pipeline. Currently, their 108.73 price-to-sales ratio means investors are paying over 100 dollars for every dollar of revenue, which is only justifiable if they maintain this aggressive, high-margin revenue growth trajectory.
C Chatgpt 3M Target $115.00 6M Target $120.00 Reasoning I think Palantir will drift modestly higher over the next six months as earnings validate a scaling AI-driven gov/enterprise growth. The upcoming earnings print and management's updated guidance on AI deployments in government and enterprise will be the catalyst. A quarterly earnings miss or sharper dilution due to equity comp or NHS contract headwinds could break the thesis. With the current price around 112.78, my 3-month target sits near 115 and my 6-month target near 120.

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