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Planet Labs PBC (PL) 10-Year Financial Performance & Capital Metrics

PL • • Industrial / General
IndustrialsAerospace & DefenseSpace Systems & Launch ServicesSpacecraft & Satellite Systems
AboutPlanet Labs PBC designs, constructs, and launches constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company offers Open Geospatial Consortium, a cloud-native proprietary technology that performs critical processing and overall harmonizing of images for time series and data fusion and analysis; and space-based hardware and related software systems. It serves agriculture, mapping, forestry, and finance and insurance, as well as federal, state, and local government bodies. The company was incorporated in 2010 and is headquartered in San Francisco, California.Show more
  • Revenue $244M +10.7%
  • EBITDA -$70M +42.3%
  • Net Income -$123M +12.3%
  • EPS (Diluted) -0.42 +16.0%
  • Gross Margin 57.18% +11.7%
  • EBITDA Margin -28.85% +47.9%
  • Operating Margin -47.52% +38.2%
  • Net Margin -50.42% +20.8%
  • ROE -25.68%
  • ROIC -21.85% +24.9%
  • Debt/Equity 0.05 +1.8%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Momentum leader: RS Rating 97 (top 3%)
  • ✓Strong 5Y sales CAGR of 20.6%
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Expensive at 16.8x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y20.61%
3Y23.03%
TTM11.33%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM33.51%

EPS CAGR

10Y-
5Y-
3Y-
TTM35.13%

ROCE

10Y Avg-28.27%
5Y Avg-26.63%
3Y Avg-25.66%
Latest-21.97%

Peer Comparison

Spacecraft & Satellite Systems
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Size & Scale
Valuation
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VOYGVoyager Technologies, Inc.1.64B31.24-21.695.97%-59.62%-14.46%1.64
PLPlanet Labs PBC7.41B25.32-60.2910.72%-34.46%-20.76%0.05

Profit & Loss

Jan 2020Jan 2021Jan 2022Jan 2023Jan 2024Jan 2025
Sales/Revenue+95.74M113.17M131.21M191.26M220.7M244.35M
Revenue Growth %-0.18%0.16%0.46%0.15%0.11%
Cost of Goods Sold+102.39M87.38M82.99M97.25M107.75M104.63M
COGS % of Revenue1.07%0.77%0.63%0.51%0.49%0.43%
Gross Profit+-6.66M25.79M48.22M94.01M112.95M139.72M
Gross Margin %-0.07%0.23%0.37%0.49%0.51%0.57%
Gross Profit Growth %-4.87%0.87%0.95%0.2%0.24%
Operating Expenses+99.8M113.23M176.27M269.68M282.7M255.85M
OpEx % of Revenue1.04%1%1.34%1.41%1.28%1.05%
Selling, General & Admin61.93M69.4M109.59M158.77M166.36M154.84M
SG&A % of Revenue0.65%0.61%0.84%0.83%0.75%0.63%
Research & Development37.87M43.83M66.68M110.92M116.34M101.01M
R&D % of Revenue0.4%0.39%0.51%0.58%0.53%0.41%
Other Operating Expenses0239K0330K00
Operating Income+-106.46M-87.44M-128.05M-175.68M-169.75M-116.12M
Operating Margin %-1.11%-0.77%-0.98%-0.92%-0.77%-0.48%
Operating Income Growth %-0.18%-0.46%-0.37%0.03%0.32%
EBITDA+-28.86M-25.24M-82.95M-132.34M-122.11M-70.48M
EBITDA Margin %-0.3%-0.22%-0.63%-0.69%-0.55%-0.29%
EBITDA Growth %-0.13%-2.29%-0.6%0.08%0.42%
D&A (Non-Cash Add-back)77.6M62.2M45.1M43.33M47.64M45.64M
EBIT-116.64M-116.58M-126.24M-161.12M-139.69M-102.71M
Net Interest Income+-6.95M-9.39M-8.75M7.67M15.41M10.26M
Interest Income053K21K7.67M15.41M10.26M
Interest Expense6.95M9.45M8.77M000
Other Income/Expense-17.12M-38.59M-6.96M14.56M30.05M-4.61M
Pretax Income+-123.58M-126.03M-135.01M-161.12M-139.69M-120.74M
Pretax Margin %-1.29%-1.11%-1.03%-0.84%-0.63%-0.49%
Income Tax+130K1.07M2.11M847K815K2.46M
Effective Tax Rate %1%1.01%1.02%1.01%1.01%1.02%
Net Income+-123.71M-127.1M-137.12M-161.97M-140.51M-123.2M
Net Margin %-1.29%-1.12%-1.05%-0.85%-0.64%-0.5%
Net Income Growth %--0.03%-0.08%-0.18%0.13%0.12%
Net Income (Continuing)-123.71M-127.1M-137.12M-161.97M-140.51M-123.2M
Discontinued Operations000000
Minority Interest000000
EPS (Diluted)+-2.87-2.95-0.52-0.61-0.50-0.42
EPS Growth %--0.03%0.82%-0.17%0.18%0.16%
EPS (Basic)-2.87-2.95-0.52-0.61-0.50-0.42
Diluted Shares Outstanding43.13M43.13M262.18M267.13M279.59M292.12M
Basic Shares Outstanding43.13M43.13M262.18M267.13M279.59M292.12M
Dividend Payout Ratio------

Balance Sheet

Jan 2020Jan 2021Jan 2022Jan 2023Jan 2024Jan 2025
Total Current Assets+60.32M125.43M551.52M475.65M370.15M302.23M
Cash & Short-Term Investments21.68M71.18M490.76M408.76M298.91M228.67M
Cash Only21.68M71.18M490.76M181.89M83.87M124.65M
Short-Term Investments000226.87M215.04M104.03M
Accounts Receivable27.73M47.11M44.37M38.95M43.32M55.83M
Days Sales Outstanding105.71151.94123.4474.3471.6583.4
Inventory000000
Days Inventory Outstanding------
Other Current Assets3.11M1.41M1.68M27.94M27.92M17.72M
Total Non-Current Assets+302.67M273.88M269.92M277.07M331.85M331.57M
Property, Plant & Equipment186.59M159.85M133.28M128.49M135.77M141.5M
Fixed Asset Turnover0.51x0.71x0.98x1.49x1.63x1.73x
Goodwill88.39M88.39M103.22M112.75M136.26M136.35M
Intangible Assets21.99M17.67M24.96M26.25M47.42M27.45M
Long-Term Investments8.07M8.07M5.74M5.66M00
Other Non-Current Assets4.86M5.5M8.46M9.58M12.4M26.27M
Total Assets+362.99M399.31M821.44M752.72M702M633.8M
Asset Turnover0.26x0.28x0.16x0.25x0.31x0.39x
Asset Growth %-0.1%1.06%-0.08%-0.07%-0.1%
Total Current Liabilities+71.21M108.81M132.04M122.26M136.65M142.08M
Accounts Payable2.12M1.45M2.85M6.9M2.6M2.6M
Days Payables Outstanding7.546.0412.5425.98.819.08
Short-Term Debt10.8M8.24M007.98M0
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K
Other Current Liabilities50.64M30.41M44.17M37.73M28.96M45.19M
Current Ratio0.85x1.15x4.18x3.89x2.71x2.13x
Quick Ratio0.85x1.15x4.18x3.89x2.71x2.13x
Cash Conversion Cycle------
Total Non-Current Liabilities+74.14M182.98M41.16M54.36M47.33M50.43M
Long-Term Debt46.66M155.61M0000
Capital Lease Obligations0-37.05M017.14M16.95M12.39M
Deferred Tax Liabilities5.01M10.96M0000
Other Non-Current Liabilities22.47M-9.68M37.58M34.34M25.09M26.86M
Total Liabilities145.35M291.8M173.2M176.62M183.98M192.51M
Total Debt+57.46M163.86M022.03M24.93M21.61M
Net Debt35.78M92.67M-490.76M-159.86M-58.94M-103.03M
Debt / Equity0.26x1.52x-0.04x0.05x0.05x
Debt / EBITDA------
Net Debt / EBITDA------
Interest Coverage-15.33x-9.26x-14.60x---
Total Equity+217.64M107.51M648.25M576.1M518.02M441.29M
Equity Growth %--0.51%5.03%-0.11%-0.1%-0.15%
Book Value per Share5.052.492.472.161.851.51
Total Shareholders' Equity217.64M107.51M648.25M576.1M518.02M441.29M
Common Stock1K1K27K27K28K28K
Retained Earnings-512.8M-639.9M-777.03M-939.3M-1.08B-1.2B
Treasury Stock000000
Accumulated OCI1.49M1.77M2.1M2.27M1.59M-1.1M
Minority Interest000000

Cash Flow

Jan 2020Jan 2021Jan 2022Jan 2023Jan 2024Jan 2025
Cash from Operations+-33.69M-4.03M-42.21M-73.93M-50.71M-14.37M
Operating CF Margin %-0.35%-0.04%-0.32%-0.39%-0.23%-0.06%
Operating CF Growth %-0.88%-9.48%-0.75%0.31%0.72%
Net Income-123.71M-127.1M-137.12M-161.97M-140.51M-123.2M
Depreciation & Amortization77.63M62.21M45.04M43.33M47.64M45.64M
Stock-Based Compensation5.07M14.01M41.96M75.54M57.13M48.48M
Deferred Taxes12.18M150K-1.39M-456K00
Other Non-Cash Items1.19M32.8M-232K-6.5M-18.77M17.63M
Working Capital Changes-6.04M13.9M9.54M-23.88M3.8M-2.93M
Change in Receivables8.96M-19.93M3.26M6.31M-2.66M-11.98M
Change in Inventory12.94M2.62M0000
Change in Payables3.07M11.03M16.07M-2.99M-25.01M-13.34M
Cash from Investing+-27.17M-30.8M-25.15M-242.26M-33.59M57.91M
Capital Expenditures-24.1M-30.13M-14.93M-12.76M-37.99M-44.3M
CapEx % of Revenue0.25%0.27%0.11%0.07%0.17%0.18%
Acquisitions------
Investments------
Other Investing-614K-674K-598K-557K-5.81M182.12M
Cash from Financing+8.73M83.94M489.18M7.86M-1.6M-15.54M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing-49.64M-85.99M561.73M14.2M7.37M-21.46M
Net Change in Cash------
Free Cash Flow+-57.79M-34.15M-57.14M-86.69M-93.12M-58.67M
FCF Margin %-0.6%-0.3%-0.44%-0.45%-0.42%-0.24%
FCF Growth %-0.41%-0.67%-0.52%-0.07%0.37%
FCF per Share-1.34-0.79-0.22-0.32-0.33-0.20
FCF Conversion (FCF/Net Income)0.27x0.03x0.31x0.46x0.36x0.12x
Interest Paid06.55M6.75M000
Taxes Paid01.08M884K3.1M01.8M

Key Ratios

Metric202020212022202320242025
Return on Equity (ROE)-56.84%-78.18%-36.29%-26.46%-25.68%-25.68%
Return on Invested Capital (ROIC)-31.51%-28.92%-53.7%-45.93%-29.09%-21.85%
Gross Margin-6.95%22.78%36.75%49.15%51.18%57.18%
Net Margin-129.22%-112.31%-104.51%-84.69%-63.67%-50.42%
Debt / Equity0.26x1.52x-0.04x0.05x0.05x
Interest Coverage-15.33x-9.26x-14.60x---
FCF Conversion0.27x0.03x0.31x0.46x0.36x0.12x
Revenue Growth-18.21%15.94%45.76%15.39%10.72%

Revenue by Segment

2022202320242025
Reportable---244.35M
Reportable Growth----

Revenue by Geography

2022202320242025
Non-US--121.98M134.49M
Non-US Growth---10.26%
UNITED STATES55.99M97.77M98.72M109.86M
UNITED STATES Growth-74.62%0.97%11.29%
Other Geographical Areas, Not Separately Disclosed65.85M80.53M--
Other Geographical Areas, Not Separately Disclosed Growth-22.30%--
CANADA9.37M12.95M--
CANADA Growth-38.23%--

Frequently Asked Questions

Growth & Financials

Planet Labs PBC (PL) reported $262.5M in revenue for fiscal year 2025. This represents a 174% increase from $95.7M in 2020.

Planet Labs PBC (PL) grew revenue by 10.7% over the past year. This is steady growth.

Planet Labs PBC (PL) reported a net loss of $90.5M for fiscal year 2025.

Dividend & Returns

Planet Labs PBC (PL) has a return on equity (ROE) of -25.7%. Negative ROE indicates the company is unprofitable.

Planet Labs PBC (PL) generated $32.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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