Price to FCFE (P/FCFE)
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Palantir Technologies Inc. pages available for free this week:
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2020
- Debt to Equity since 2020
- Total Asset Turnover since 2020
- Price to Operating Profit (P/OP) since 2020
- Analysis of Revenues
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Free Cash Flow to Equity (FCFE)
Palantir Technologies Inc., FCFE calculation
US$ in thousands
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).
The financial information reveals a significant upward trend in both net cash provided by operating activities and free cash flow to equity (FCFE) over the observed period. Both metrics demonstrate substantial growth from 2021 to 2025.
- Net Cash from Operations
- Net cash provided by operating activities decreased from US$333.851 million in 2021 to US$223.737 million in 2022, representing a decline. However, a strong recovery and subsequent growth are evident, with values increasing to US$712.183 million in 2023, US$1.153.865 million in 2024, and reaching US$2.134.473 million in 2025. This indicates improving operational efficiency and cash generation capabilities.
- Free Cash Flow to Equity (FCFE)
- FCFE exhibited an increase from US$121.224 million in 2021 to US$183.710 million in 2022. This positive trend continued, with substantial increases observed in subsequent years, reaching US$697.069 million in 2023, US$1.141.231 million in 2024, and US$2.100.591 million in 2025. The consistent growth in FCFE suggests the company is generating increasing cash flow available to equity holders after all expenses and debt obligations are paid.
The growth rate of FCFE appears to be closely aligned with the growth in net cash from operations, suggesting a strong correlation between operational performance and cash available to equity investors. The substantial increases observed in both metrics from 2022 to 2025 indicate a period of significant financial improvement and strengthening cash position.
- Relationship between Metrics
- While FCFE is generally lower than net cash from operations in each year, the consistent upward trajectory of both metrics suggests a healthy financial position. The difference between the two likely reflects debt-related cash flows and other financing activities not directly impacting equity holders.
Price to FCFE Ratio, Current
Palantir Technologies Inc., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in thousands) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Accenture PLC | |
| Adobe Inc. | |
| AppLovin Corp. | |
| Cadence Design Systems Inc. | |
| CrowdStrike Holdings Inc. | |
| Datadog Inc. | |
| International Business Machines Corp. | |
| Intuit Inc. | |
| Microsoft Corp. | |
| Oracle Corp. | |
| Palo Alto Networks Inc. | |
| Salesforce Inc. | |
| ServiceNow Inc. | |
| Synopsys Inc. | |
| Workday Inc. | |
| P/FCFE, Sector | |
| Software & Services | |
| P/FCFE, Industry | |
| Information Technology | |
Based on: 10-K (reporting date: 2025-12-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Palantir Technologies Inc., historical P/FCFE calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Free cash flow to equity (FCFE) (in thousands)2 | ||||||
| FCFE per share3 | ||||||
| Share price1, 4 | ||||||
| Valuation Ratio | ||||||
| P/FCFE5 | ||||||
| Benchmarks | ||||||
| P/FCFE, Competitors6 | ||||||
| Accenture PLC | ||||||
| Adobe Inc. | ||||||
| AppLovin Corp. | ||||||
| Cadence Design Systems Inc. | ||||||
| CrowdStrike Holdings Inc. | ||||||
| Datadog Inc. | ||||||
| International Business Machines Corp. | ||||||
| Intuit Inc. | ||||||
| Microsoft Corp. | ||||||
| Oracle Corp. | ||||||
| Palo Alto Networks Inc. | ||||||
| Salesforce Inc. | ||||||
| ServiceNow Inc. | ||||||
| Synopsys Inc. | ||||||
| Workday Inc. | ||||||
| P/FCFE, Sector | ||||||
| Software & Services | ||||||
| P/FCFE, Industry | ||||||
| Information Technology | ||||||
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).
1 Data adjusted for splits and stock dividends.
3 2025 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Palantir Technologies Inc. Annual Report.
5 2025 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
The Price to Free Cash Flow to Equity (P/FCFE) ratio exhibits considerable fluctuation over the observed period. Initial values indicate a high valuation relative to free cash flow, followed by a period of decline, and then a resurgence before stabilizing. A detailed examination of the components and the resulting ratio reveals key trends.
- Share Price
- The share price demonstrates a decline from 2021 to 2022, falling from US$11.83 to US$8.47. A significant recovery is then observed in 2023, reaching US$23.40, followed by substantial growth to US$124.62 in 2024. The price experiences further, albeit more moderate, increase to US$133.02 by 2025.
- FCFE per Share
- Free Cash Flow to Equity per share shows a consistent upward trend throughout the period. Starting at US$0.06 in 2021, it increases to US$0.09 in 2022, then to US$0.32 in 2023. This growth continues with values of US$0.49 in 2024 and US$0.88 in 2025, indicating improving cash flow generation relative to equity holders.
- P/FCFE Ratio
- The P/FCFE ratio begins at a high of 198.12 in 2021, suggesting a premium valuation. It decreases substantially to 96.89 in 2022, coinciding with the share price decline and a slight increase in FCFE per share. Further reduction is seen in 2023, reaching 74.28 as FCFE per share grows more rapidly than the share price. A dramatic increase occurs in 2024, with the ratio reaching 256.11, driven by the significant surge in share price. The ratio then moderates to 151.45 in 2025, as FCFE per share continues to rise, partially offsetting the share price increase.
The observed fluctuations in the P/FCFE ratio suggest that investor sentiment and expectations regarding future cash flow generation play a significant role in valuation. The initial high ratio indicates strong optimism, while the subsequent declines reflect a period of reassessment. The later increases, particularly in 2024, are largely attributable to the substantial appreciation in the share price, even as FCFE per share continued to improve. The stabilization in 2025 suggests a potential equilibrium between price appreciation and cash flow growth.