Last 23 quarters of trend data · Technology · Software - Infrastructure
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Palantir Technologies Inc.'s quarterly P/E stands at 185.2x, down 69.4% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 92.5% YoY to 195.8x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 217.76 | 185.16 | 240.03 | 262.15 | 251.79 | 606.01 | 159.25 | 113.89 | 130.74 | 108.40 | 129.87 | 309.07 | 277.96 |
| — | -69.4% | +50.7% | +130.2% | +92.6% | +459.1% | +22.6% | -63.1% | -53.0% | -5.4% | — | — | — | |
| P/S Ratio | 70.02 | 81.29 | 98.94 | 87.02 | 60.94 | 57.77 | 31.53 | 22.55 | 21.77 | 16.64 | 16.67 | 16.37 | 8.92 |
| — | +40.7% | +213.8% | +285.9% | +180.0% | +247.2% | +89.2% | +37.7% | +144.0% | +139.2% | +89.0% | +66.2% | -43.0% | |
| P/B Ratio | 47.00 | 61.09 | 69.89 | 57.98 | 39.04 | 37.53 | 19.93 | 14.78 | 14.30 | 11.37 | 11.37 | 11.51 | 6.68 |
| — | +62.8% | +250.7% | +292.3% | +172.9% | +230.2% | +75.2% | +28.5% | +114.0% | +112.3% | +61.0% | +45.0% | -43.5% | |
| P/FCF | 149.19 | 149.68 | 232.84 | 164.30 | 177.14 | 104.55 | 55.01 | 108.21 | 108.79 | 34.16 | 70.54 | 101.22 | 25.65 |
| — | +43.2% | +323.2% | +51.8% | +62.8% | +206.1% | -22.0% | +6.9% | +324.1% | -28.7% | -45.4% | +23.8% | -92.6% | |
| EV / EBITDA | 216.78 | 195.84 | 291.84 | 316.01 | 293.85 | 2622.78 | 187.63 | 134.29 | 153.73 | 135.16 | 187.09 | 461.68 | 356.50 |
| — | -92.5% | +55.5% | +135.3% | +91.1% | +1840.5% | +0.3% | -70.9% | -56.9% | — | — | — | — | |
| EV / EBIT | 220.78 | 198.23 | 296.27 | 323.67 | 304.90 | 4286.75 | 201.04 | 144.56 | 169.77 | 93.72 | 112.77 | 846.59 | 1077.28 |
| — | -95.4% | +47.4% | +123.9% | +79.6% | +4474.1% | +78.3% | -82.9% | -84.2% | +25.7% | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Palantir Technologies Inc.'s operating margin was 40.9% in Q4 2025, up 7.6 pp QoQ and up 39.6 pp YoY. This marks the 5th consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 30.2% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 7.3% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.4% | 84.6% | 82.4% | 80.8% | 80.4% | 78.9% | 79.8% | 81.0% | 81.7% | 82.1% | 80.7% | 80.0% | 79.5% |
| — | +7.3% | +3.3% | -0.3% | -1.5% | -3.9% | -1.1% | +1.4% | +2.7% | +3.3% | +4.1% | +2.0% | +0.8% | |
| Operating Margin | 31.6% | 40.9% | 33.3% | 26.8% | 19.9% | 1.3% | 15.6% | 15.5% | 12.8% | 10.8% | 7.2% | 1.9% | 0.8% |
| — | +2964.9% | +113.5% | +72.7% | +56.2% | -87.7% | +117.7% | +722.4% | +1527.4% | +408.6% | +155.0% | +121.4% | +108.9% | |
| Net Margin | 36.3% | 43.3% | 40.3% | 32.6% | 24.2% | 9.5% | 19.8% | 19.8% | 16.6% | 15.4% | 12.8% | 5.3% | 3.2% |
| — | +353.2% | +103.6% | +64.6% | +45.6% | -37.8% | +54.4% | +275.0% | +420.0% | +152.9% | +149.4% | +113.9% | +114.1% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 25.8% | 8.6% | 7.5% | 5.7% | 4.0% | 1.6% | 3.3% | 3.4% | 2.8% | 2.7% | 2.3% | 1.0% | 0.6% |
| — | +426.4% | +127.5% | +68.8% | +41.8% | -40.3% | +45.0% | +248.1% | +360.8% | +122.6% | +143.3% | +112.7% | +114.2% | |
| ROA | 21.3% | 7.2% | 6.1% | 4.6% | 3.3% | 1.3% | 2.6% | 2.7% | 2.3% | 2.1% | 1.7% | 0.7% | 0.5% |
| — | +448.3% | +134.6% | +72.7% | +44.7% | -39.1% | +49.7% | +265.5% | +380.9% | +135.3% | +146.6% | +113.5% | +115.2% | |
| ROIC | 22.3% | 7.4% | 5.5% | 4.0% | 3.3% | 0.2% | 2.1% | 2.1% | 1.9% | 1.8% | 1.3% | 0.4% | 0.3% |
| — | +3184.6% | +160.0% | +88.3% | +77.2% | -87.5% | +66.8% | +465.3% | +530.6% | +134.9% | +106.4% | +103.7% | +103.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Palantir Technologies Inc.'s Debt/EBITDA ratio is 0.4x, down from 0.6x last quarter — comfortably within a safe range. The current ratio has improved 19.3% YoY to 7.11x, strengthening the short-term liquidity position. Debt/Equity has declined for 7 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 0.05 | 0.06 | 0.06 | 0.06 | 0.06 | 0.07 | 0.08 | 0.09 |
| — | -34.8% | -36.6% | -36.8% | -21.2% | -27.1% | -23.1% | -22.9% | -39.3% | -31.7% | -29.7% | -25.9% | -18.2% | |
| Debt / EBITDA | 0.16 | 0.39 | 0.59 | 0.86 | 1.34 | 13.25 | 2.10 | 2.28 | 2.43 | 3.11 | 4.86 | 13.32 | 20.87 |
| — | -97.0% | -72.0% | -62.2% | -44.9% | +326.2% | -56.7% | -82.9% | -88.4% | — | — | — | — | |
| Current Ratio | 7.11 | 7.11 | 6.43 | 6.32 | 6.49 | 5.96 | 5.67 | 5.92 | 5.91 | 5.55 | 5.53 | 5.22 | 5.41 |
| — | +19.3% | +13.3% | +6.9% | +9.9% | +7.4% | +2.6% | +13.4% | +9.2% | +7.2% | +29.2% | +19.7% | +23.8% | |
| Quick Ratio | 7.11 | 7.11 | 6.43 | 6.32 | 6.49 | 5.96 | 5.67 | 5.92 | 5.91 | 5.55 | 5.53 | 5.22 | 5.41 |
| — | +19.3% | +13.3% | +6.9% | +9.9% | +7.4% | +2.6% | +13.4% | +9.2% | +7.2% | +29.2% | +19.7% | +23.8% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | 483.78 | 53.89 | 7.65 | 3.23 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 23 years · Updated daily
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Start ComparisonPalantir Technologies Inc.'s current P/E is 217.8x. The average P/E over the last 4 quarters is 234.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Palantir Technologies Inc.'s current operating margin is 31.6%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Palantir Technologies Inc.'s business trajectory between earnings reports.