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Planet Labs

PL NYSE Aerospace & Defense Financials FY2020–FY2026

Planet Labs' revenue rose 25.9% to $308 million in fiscal 2026. Its operating margin was −30.9%, up from −47.5% a year earlier. Free cash flow was $58 million. The diluted share count rose 5.4%.

Last close · Oct 23, 2026

$13.41

2.5%
Value it Compare
Revenue Total sales reported in the income statement.
$308M
25.9% vs prior year
Operating margin Operating income as a share of revenue.
−30.9%
16.6 pts
Net income Profit after all expenses, interest and tax.
−$247M
Free cash flow Cash from operations minus capital spending.
$57.7M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−70.1%
28.2 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$4.8B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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About these figures. Debt includes the convertible notes Planet Labs issued in 2025, which its filings tag under their own label; the default counted debt as zero.

What Planet Labs does

No business description yet.

Legal name
Planet Labs PBC
Fiscal year ends
January 31, 2026
Latest annual report
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Accession · CIK
0001193125-26-119957
0001836833

Revenue and margins

Planet Labs had $308M of revenue in fiscal 2026, up 25.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $57.7M in fiscal 2026, 18.7% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Planet Labs returned $0.0M to shareholders in fiscal 2026, 0% of free cash flow. The diluted share count rose 5.4%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Planet Labs yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of $193M and divides by 307.8M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Planet Labs can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $491M$409M$299M$222M$640M
Debt incl. finance leases $0.0M$0.0M$0.0M$0.0M$447M
Debt / equity 0.0x0.0x0.0x0.0x2.4x
Interest coverage −14.6x——−139.6x−27.7x
Current ratio 4.2x3.9x2.7x2.1x1.7x
Quick ratio 4.2x3.9x2.7x2.1x1.6x
Total assets $821M$753M$702M$634M$1.1B
Total liabilities $173M$177M$184M$193M$957M
Shareholders' equity $648M$576M$518M$441M$188M
Net debt (− = net cash) −$491M−$409M−$299M−$222M−$193M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$22.2M

6 insiders

Of sales under plans

100%

$22.2M

DateInsiderTradeSharesPriceValueFiling
Oct 15, 2026 Kristen RobinsonDirector Sold plan 40,000 $14.14 $0.6M Form 4
Oct 13, 2026 John w RaymondDirector Sold plan 6,494 $15.23 $0.1M Form 4
Sep 17, 2026 Ashley F. JohnsonPresident & CFO Sold plan 55,663 $16.96 $0.9M Form 4
Sep 17, 2026 Robert H SchinglerCo-Founder Chief Strategy Off., Director Sold plan 52,240 $16.96 $0.9M Form 4
Jul 23, 2026 Ashley F. JohnsonPresident & CFO Sold plan 110,028 $22.08 $2.4M Form 4
Jul 15, 2026 Kristen RobinsonDirector Sold plan 37,107 $25.05 $0.9M Form 4
Jul 13, 2026 John w RaymondDirector Sold plan 6,494 $26.16 $0.2M Form 4
Jul 10, 2026 Robert H SchinglerCo-Founder Chief Strategy Off., Director Sold plan 89,593 $25.92 $2.3M Form 4
Jul 10, 2026 William Spencer MarshallCo-Founder and CEO, Director Sold plan 200,000 $25.92 $5.2M Form 4
Jul 1, 2026 Ita M BrennanDirector Sold plan 11,500 $33.00 $0.4M Form 4
Apr 15, 2026 Ita M BrennanDirector Sold plan 36,500 $33.91 $1.2M Form 4
Apr 6, 2026 William Spencer MarshallCo-Founder and CEO, Director Sold plan 200,000 $35.07 $7.0M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✕ ✕ ✕
Cash from operations is positive ✕ ✕ ✓
Return on assets rose ✓ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✕
Current ratio rose ✕ ✕ ✕
Share count didn't rise ✕ ✕ ✕
Gross margin rose ✓ ✓ ✕
Revenue rose relative to assets ✓ ✓ ✓
F-score 4 / 94 / 93 / 9
Accruals ratio −12.4%−16.3%−42.9%
Altman Z'' −1.50−3.35−2.72

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Planet Labs PL $4.8B 25.9% −30.9% 18.7% −70.1% — 3
Intuitive Machines LUNR $1.7B −7.9% −41.5% −26.6% — — 3 Compare →
Kratos Defense & Security Solutions KTOS $7.4B 18.5% 1.9% −10.2% 1.2% — 4 Compare →
Joby Aviation JOBY $4.6B 39,183.1% −1,346.9% −1,055.3% — — — Compare →
Hexcel HXL $6.1B −0.5% 9.1% 8.3% 6.5% 35.9x 6 Compare →

7 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $95.7M $113M $131M $191M $221M $244M $308M
Gross profit −$6.7M $25.8M $48.2M $94.0M $113M $140M $173M
Research and development $37.9M $43.8M $66.7M $111M $116M $101M $107M
Operating income −$107M −$87.4M −$128M −$176M −$170M −$116M −$95.1M
Interest expense $6.9M $9.4M $8.8M $0.0M $0.0M $0.8M $3.4M
Pretax income −$124M −$126M −$135M −$161M −$140M −$121M −$242M
Income tax $0.1M $1.1M $2.1M $0.8M $0.8M $2.5M $4.7M
Net income −$124M −$127M −$137M −$162M −$141M −$123M −$247M
Diluted EPS −$2.89 −$2.87 −$1.72 −$0.61 −$0.50 −$0.42 −$0.80
Diluted shares 0.04B 0.04B 0.08B 0.27B 0.28B 0.29B 0.31B
Cash flow
Cash from operations −$33.7M −$4.0M −$42.2M −$73.9M −$50.7M −$14.4M $134M
Capital expenditure $16.7M $26.1M $10.3M $10.4M $38.0M $44.3M $76.7M
Free cash flow −$50.4M −$30.1M −$52.5M −$84.4M −$88.7M −$58.7M $57.7M
Depreciation and amortization $77.6M $62.2M $45.0M $43.3M $47.6M $45.6M $41.8M
Stock-based compensation $5.1M $14.0M $42.0M $75.5M $57.1M $48.5M $55.0M
Acquisitions $2.5M $0.0M $9.6M $3.8M $7.5M $1.1M $5.4M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Balance sheet
Cash and short-term investments $27.7M $71.2M $491M $409M $299M $222M $640M
Total debt — $93.0M $0.0M $0.0M $0.0M $0.0M $447M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets — $125M $552M $476M $370M $302M $775M
Current liabilities — $109M $132M $122M $137M $142M $470M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $6.1M
Property and equipment, net — $160M $133M $108M $113M $122M $151M
Total assets — $399M $821M $753M $702M $634M $1.1B
Total liabilities — $292M $173M $177M $184M $193M $957M
Shareholders' equity $218M $108M $648M $576M $518M $441M $188M
Margins
Gross margin −7.0% 22.8% 36.8% 49.2% 51.2% 57.2% 56.1%
Operating margin −111.2% −77.3% −97.6% −91.9% −76.9% −47.5% −30.9%
EBITDA margin −30.1% −22.3% −63.3% −69.2% −55.3% −28.9% −17.3%
Net margin −129.2% −112.3% −104.5% −84.7% −63.7% −50.4% −80.2%
FCF margin −52.6% −26.6% −40.0% −44.1% −40.2% −24.0% 18.7%
Returns
Return on capital — — −70.6% −85.5% −69.4% −41.9% −70.1%
Return on capital employed — — −26.1% −26.6% −28.4% −22.0% −16.3%
Return on equity — — −36.3% −26.5% −25.7% −25.7% −78.4%
Return on assets — — −22.5% −20.6% −19.3% −18.5% −27.8%
Growth
Revenue growth — 18.2% 15.9% 45.8% 15.4% 10.7% 25.9%
Share count change — 3.2% 80.1% 235.5% 4.7% 4.5% 5.4%
Financial health
Debt / equity — 0.9x 0.0x 0.0x 0.0x 0.0x 2.4x
Interest coverage −15.3x −9.3x −14.6x — — −139.6x −27.7x
Current ratio — 1.2x 4.2x 3.9x 2.7x 2.1x 1.7x
Quick ratio — 1.2x 4.2x 3.9x 2.7x 2.1x 1.6x
Capital allocation
Capex / revenue 17.4% 23.1% 7.9% 5.5% 17.2% 18.1% 24.9%
Stock comp / revenue 5.3% 12.4% 32.0% 39.5% 25.9% 19.8% 17.9%
Payouts / FCF — — — — — — 0.0%
Quality scores
Piotroski F-score — — — 3.0 4.0 4.0 3.0
Altman Z'' — −6.0 3.2 0.9 −1.5 −3.4 −2.7
Accruals ratio — — −15.6% −11.2% −12.4% −16.3% −42.9%

Source: SEC EDGAR XBRL filings (CIK 0001836833). Data updated October 12, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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