Price to Operating Profit (P/OP)
since 2020
Calculation
Palantir Technologies Inc., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Income (loss) from operations1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 17, 2026 | 224.99 | = | 133.02 | ÷ | 0.59 | 0.59 | = | 1,414,015 | ÷ | 2,391,675,711 | |
| Feb 18, 2025 | 941.61 | = | 124.62 | ÷ | 0.13 | 0.13 | = | 310,403 | ÷ | 2,345,356,506 | |
| Feb 20, 2024 | 431.61 | = | 23.40 | ÷ | 0.05 | 0.05 | = | 119,966 | ÷ | 2,212,732,992 | |
| Feb 21, 2023 | — | = | 8.47 | ÷ | -0.08 | -0.08 | = | -161,201 | ÷ | 2,101,387,197 | |
| Feb 24, 2022 | — | = | 11.83 | ÷ | -0.20 | -0.20 | = | -411,046 | ÷ | 2,030,118,339 | |
| Feb 26, 2021 | — | = | 23.90 | ÷ | -0.64 | -0.64 | = | -1,173,679 | ÷ | 1,822,267,548 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Palantir Technologies Inc. Annual Report.
The Price to Operating Profit (P/OP) ratio for the observed period demonstrates a significant evolution. Initially unavailable, the ratio begins to materialize in 2024 and exhibits substantial fluctuation through the forecast period.
- P/OP Ratio Trend
- In 2024, the P/OP ratio is reported at 431.61. This value increases markedly to 941.61 in 2025. A substantial decrease is then observed in 2026, with the ratio falling to 224.99.
The movement in the P/OP ratio correlates with changes in both share price and operating profit per share. The initial high values in 2024 and 2025 are driven by a rapidly increasing share price, coupled with initially low, but improving, operating profit per share. The subsequent decline in 2026 is attributable to a slower rate of share price increase and a more substantial increase in operating profit per share.
- Share Price Influence
- The share price experiences a dramatic increase between 2024 and 2025, rising from US$23.40 to US$124.62. While continuing to increase in 2026 to US$133.02, the rate of growth slows considerably. This pattern directly impacts the P/OP ratio, magnifying its fluctuations.
- Operating Profit per Share Influence
- Operating profit per share transitions from negative values in the earlier periods to positive values starting in 2024. The growth in operating profit per share accelerates from US$0.05 in 2024 to US$0.13 in 2025 and further to US$0.59 in 2026. This increasing profitability contributes to the decreasing P/OP ratio observed in 2026, partially offsetting the continued share price appreciation.
The observed trend suggests a potential normalization of the P/OP ratio as operating profitability improves. The initial high ratios may reflect investor speculation or a period of low earnings. The subsequent decline indicates a possible re-evaluation of the company based on improving financial performance.
Comparison to Competitors
Palantir Technologies Inc., P/OP, long-term trends, comparison to competitors
| Palantir Technologies Inc. | Accenture PLC | Adobe Inc. | AppLovin Corp. | Cadence Design Systems Inc. | CrowdStrike Holdings Inc. | Datadog Inc. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 17, 2026 | 224.99 | 14.62 | 14.34 | — | — | — | — | 37.87 | 29.68 | 33.50 | 102.53 | 38.94 | 66.94 | 100.63 | 155.71 |
| Feb 18, 2025 | 941.61 | 23.52 | 26.38 | 58.16 | 52.42 | — | 797.11 | 48.11 | 28.73 | 25.65 | 159.88 | 58.80 | 152.95 | 56.25 | 381.31 |
| Feb 20, 2024 | 431.61 | 21.69 | 40.52 | 31.12 | 65.43 | — | — | 49.04 | 27.76 | 25.30 | 193.40 | 177.62 | 206.26 | 67.90 | — |
| Feb 21, 2023 | — | 16.83 | 25.85 | — | 47.21 | — | — | 46.05 | 24.72 | 16.51 | — | 357.52 | 260.27 | 43.85 | — |
| Feb 24, 2022 | — | 28.35 | 40.64 | 111.61 | 48.13 | — | — | 62.00 | 30.79 | 14.31 | — | 431.39 | 436.46 | 75.64 | — |
| Feb 26, 2021 | — | 22.21 | 51.75 | — | 57.54 | — | — | 41.56 | 29.30 | 12.17 | — | 511.08 | 583.08 | 59.90 | — |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).