Upside case
Bull case
—
The bull case requires both strong earnings delivery and the market pricing PL more generously than it does today.
Analysis OverviewBuyUpdated Jun 18, 2026
Planet Labs PBC (PL) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
22
analysts
13 bullish · 0 bearish · 22 covering PL
Strong Buy
0
Buy
13
Hold
9
Sell
0
Strong Sell
0
Consensus Target
$41
+44.7% vs today
Scenario Range
— – —
Model bear to bull value window
Coverage
22
Published analyst ratings
Valuation Context
—
Forward P/E · Market cap $9.4B
PL price targets
Three scenarios for where PL stock could go
Current
~$28
Confidence
55 / 100
Updated
Jun 18, 2026
Market caseClosest to today
Base case
—
The base case reflects analyst consensus expectations — steady delivery without requiring a major catalyst or re-rating.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Planet Labs PBC
PL · NYSEIndustrialsAerospace & DefenseJanuary year-end
Planet Labs operates a constellation of Earth-imaging satellites that capture daily global imagery. It generates revenue primarily through subscription-based data access — selling imagery and analytics to government, agriculture, and commercial clients — with government contracts representing a significant portion. The company's key advantage is its unique daily global coverage capability — a massive satellite constellation that provides frequent, consistent monitoring unmatched by competitors.
Market Cap
$9.4B
Revenue TTM
$336M
Net Income TTM
-$373M
Net Margin
-111.2%
PL Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
58%Exceptional
12 quarters tracked
Revenue Beat Rate
58%Exceptional
vs consensus estimates
Avg EPS Surprise
-126.1%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 2 of 4Q3 2025
EPS
$-0.03/$-0.03
Revenue
$73M/$72M
Q4 2025
EPS
$-0.19/$-0.03
Revenue
$81M/$72M
Q1 2026
EPS
$-0.48/$-0.05
Revenue
$87M/$78M
Q2 2026
EPS
$-0.03/$-0.04
Revenue
$94M/$90M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $-0.03/$-0.03 | +0.0% | $73M/$72M | +1.6% |
| Q4 2025 | $-0.19/$-0.03 | -467.3% | $81M/$72M | +12.6% |
| Q1 2026 | $-0.48/$-0.05 | -916.7% | $87M/$78M | +11.0% |
| Q2 2026 | $-0.03/$-0.04 | +28.2% | $94M/$90M | +4.2% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$362M
+7.7% YoY
FY2
$402M
+11.1% YoY
EPS Outlook
FY1
$-0.23
+79.0% YoY
FY2
$-0.24
-7.4% YoY
Trailing FCF (TTM)$47M
FCF Margin: 14.1%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
PL beat EPS estimates in 2 of 4 tracked quarters. Mixed delivery makes the upcoming report a key data point for re-rating.
PL Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2026
Total disclosed revenue $308M
Product Mix
Latest annual revenue by segment or product family
Segment breakdown not available for this company.
Geographic Mix
Latest annual revenue by reported region
North America
42.9%
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
North America is the largest reported region at 42.9%, with no year-over-year comparison yet.
PL Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Limited: Expensive versus peers
Fair value est. $9 — implies -68.0% from today's price.
Premium to Fair Value
68.0%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
PL
-35.3x
vs
S&P 500
24.4x
244% discount
vs Industrials Trailing P/E
PL
-35.3x
vs
Industrials
25.6x
238% discount
vs PL 5Y Avg P/E
Today
-35.3x
vs
5Y Average
—
Benchmark unavailable
Forward PE
—
S&P 500
18.8x
—
Industrials
21.2x
—
5Y Avg
—
—
Trailing PE
-35.3x
S&P 500
24.4x
-244%
Industrials
25.6x
-238%
5Y Avg
—
—
PEG Ratio
—
S&P 500
1.66x
—
Industrials
1.65x
—
5Y Avg
—
—
EV/EBITDA
—
S&P 500
15.2x
—
Industrials
13.9x
—
5Y Avg
—
—
Price/FCF
163.0x
S&P 500
20.7x
+688%
Industrials
20.0x
+713%
5Y Avg
133.3x
+22%
Price/Sales
30.5x
S&P 500
3.1x
+888%
Industrials
1.6x
+1855%
5Y Avg
10.8x
+182%
Dividend Yield
—
S&P 500
1.91%
—
Industrials
1.21%
—
5Y Avg
—
—
| Metric | PL | S&P 500 | Industrials | 5Y Avg PL |
|---|---|---|---|---|
| Forward PE | — | 18.8x | 21.2x | — |
| Trailing PE | -35.3x | 24.4x-244% | 25.6x-238% | — |
| PEG Ratio | — | 1.66x | 1.65x | — |
| EV/EBITDA | — | 15.2x | 13.9x | — |
| Price/FCF | 163.0x | 20.7x+688% | 20.0x+713% | 133.3x+22% |
| Price/Sales | 30.5x | 3.1x+888% | 1.6x+1855% | 10.8x+182% |
| Dividend Yield | — | 1.91% | 1.21% | — |
PL trades above S&P 500 benchmarks on 2 of 3 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolPL Financial Health
Verdict
Stressed
PL generates $47M in free cash flow at a 14.1% margin.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$336M
Revenue Growth
TTM vs prior year
+34.1%
Gross Margin
Gross profit as a share of revenue
55.5%
Operating Margin
Operating income divided by revenue
-31.9%
Net Margin
Net income divided by revenue
-111.2%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$-1.08
Free Cash Flow (TTM)
Cash generation after capex
$47M
FCF Margin
FCF as share of revenue — the primary cash quality signal
14.1%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
-18.8%
ROA
Return on assets, trailing twelve months
-35.5%
Cash & Equivalents
Liquid assets on the balance sheet
$230M
Net Debt
Total debt minus cash
$232M
Debt Serviceability
Net debt as a multiple of annual free cash flow
4.9× FCF
~4.9 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
-105.3%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.0%
Dividend
—
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Current diluted share count
333M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pagePL Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 18, 2026
High Risk
High fixed costs
Planet may struggle to cover its high fixed costs, leading to growth below 10% and financial strain.
High Risk
Persistent losses
The company is carrying significant and widening losses on $335.6 million of trailing revenue, raising sustainability concerns.
High Risk
Overvaluation risk
Planet's share price is far above DCF fair value, increasing the risk of a valuation de-rating.
Medium
Niche market risk
The market for planetary data may remain niche, limiting Planet's growth potential and scalability.
Medium
Revenue growth uncertainty
Despite a 26% YoY revenue growth in FY2026, there is uncertainty around sustaining this trajectory amid competitive pressures.
Lower
Regulatory and SEC risks
The company faces known and unknown risks and uncertainties, including those detailed in SEC filings, which could impact performance.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why PL Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 18, 2026
Strong earnings performance
Planet Labs PBC's stock surged 25.5% following their March 19, 2026 earnings report, indicating strong financial performance.
Bullish analyst coverage
Multiple bullish theses from reputable sources like EAA Partners, Bullseye Research, and Student of Value highlight the company's potential.
Price target upside
The average price target stands at $34.40, with a median of $35.00, suggesting significant upside potential.
Capital efficiency
Previous analysis highlighted Planet Labs' capital efficiency, low replenishment costs, and strategic avoidance of the launch business.
Market demand for satellite imagery
Planet's daily satellite imagery and insights empower global decisions, indicating strong and growing market demand.
Historical stock appreciation
PL's stock price has appreciated by approximately 583% since previous coverage, demonstrating strong historical performance.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
PL Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$28.23
52W Range Position
50%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$4.90
+476.1% from the low
52-Week High
$51.76
-45.5% from the high
1 Month
-32.16%
3 Month
+13.78%
YTD
+38.3%
1 Year
+452.4%
3Y CAGR
+107.7%
5Y CAGR
+23.4%
10Y CAGR
+11.0%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
PL vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
—
vs — median
Peer median unavailable
Revenue Growth
+7.7%
vs +14.2% median
-46% below peer median
Net Margin
-111.2%
vs -443.1% median
+75% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
PL PL Planet Labs PBC | $9.4B | — | +7.7% | -111.2% | Buy | +44.7% |
BKS BKSY BlackSky Technology Inc. | $1.1B | — | +14.2% | -89.1% | Buy | +41.0% |
SAT SATL Satellogic Inc. | $725M | — | +12.0% | -443.1% | Buy | +50.9% |
SPI SPIR Spire Global, Inc. | $636M | — | +3.7% | 76.4% | Buy | +6.1% |
AST ASTS AST SpaceMobile, Inc. | $24.1B | — | +14.2% | -573.7% | Hold | +24.0% |
MNT MNTS Momentus Inc. | $46M | — | +108.2% | -843.8% | — | — |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
FAQ
7 questionsPL Investor Questions
Common questions answered from live analyst data and company financials.
01Is Planet Labs PBC (PL) stock a buy or sell in 2026?
Planet Labs PBC (PL) is rated Buy by Wall Street analysts as of 2026. Of 22 analysts covering the stock, 13 rate it Buy or Strong Buy, 9 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $41, implying +44.7% from the current price of $28.
02What is the PL stock price target for 2026?
The Wall Street consensus price target for PL is $41 based on 22 analyst estimates. The high-end target is $53 (+87.7% from today), and the low-end target is $22 (-22.1%).
03Is Planet Labs PBC (PL) stock overvalued in 2026?
Forward earnings data for PL is not currently available. Review the valuation table above for trailing P/E, EV/EBITDA, and price-to-sales comparisons against market and sector benchmarks.
04What are the main risks for Planet Labs PBC (PL) stock in 2026?
The primary risks for PL in 2026 are: (1) High fixed costs — Planet may struggle to cover its high fixed costs, leading to growth below 10% and financial strain. (2) Persistent losses — The company is carrying significant and widening losses on $335. (3) Overvaluation risk — Planet's share price is far above DCF fair value, increasing the risk of a valuation de-rating. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Planet Labs PBC's revenue and earnings forecast?
Analyst consensus estimates PL will report consensus revenue of $362M (+7.7% year-over-year) and EPS of $-0.23 (+79.0% year-over-year) for the upcoming fiscal year. The following year, analysts project $402M in revenue.
06When does Planet Labs PBC (PL) report its next earnings?
A confirmed upcoming earnings date for PL is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Planet Labs PBC generate?
Planet Labs PBC (PL) generated $47M in free cash flow over the trailing twelve months — a free cash flow margin of 14.1%. PL returns capital to shareholders through and share repurchases ($0 TTM).