Intuitive Machines vs Planet Labs
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The short version
- Planet Labs is the larger business, with $308M of revenue in fiscal 2026 against $210M for Intuitive Machines.
- Planet Labs grew revenue faster (25.9%, against β7.9%).
- Planet Labs kept more of each dollar of sales as operating profit (β30.9% operating margin, against β41.5%).
- Planet Labs turned more of its sales into free cash flow (18.7% FCF margin, against β26.6%).
| Latest fiscal year | LUNR Β· FY25 | PL Β· FY26 |
|---|---|---|
| Size | ||
| Market cap | $1.7B | $4.8B |
| Revenue | $210M | $308M |
| Free cash flow | β$56.0M | $57.7M |
| Net income | β$83.3M | β$247M |
| Growth | ||
| Revenue growth | β7.9% | 25.9% |
| 5-year growth | β | 22.1% |
| Share count change | 88.0% | 5.4% |
| Profitability | ||
| Gross margin | β | 56.1% |
| Operating margin | β41.5% | β30.9% |
| Net margin | β39.7% | β80.2% |
| FCF margin | β26.6% | 18.7% |
| Return on capital | β | β70.1% |
| Return on equity | β | β78.4% |
| Balance sheet | ||
| Net debt | β$247M | β$193M |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $20.7M | $0.0M |
| Valuation & quality | ||
| P/E | β | β |
| Piotroski F-score | 3 | 3 |
Revenue
FY20
LUNR β
PL $95.7M
FY21
LUNR β
PL $113M
FY22
LUNR $85.9M
PL $131M
FY23
LUNR $79.6M
PL $191M
FY24
LUNR $228M
PL $221M
FY25
LUNR $210M
PL $244M
FY26
LUNR β
PL $308M
LUNR
PL
Operating margin
FY20
LUNR β
PL β111.2%
FY21
LUNR β
PL β77.3%
FY22
LUNR β6.4%
PL β97.6%
FY23
LUNR β76.8%
PL β91.9%
FY24
LUNR β25.2%
PL β76.9%
FY25
LUNR β41.5%
PL β47.5%
FY26
LUNR β
PL β30.9%
LUNR
PL
Free cash flow
FY20
LUNR β
PL β$50.4M
FY21
LUNR β
PL β$30.1M
FY22
LUNR β$15.6M
PL β$52.5M
FY23
LUNR β$75.2M
PL β$84.4M
FY24
LUNR β$67.7M
PL β$88.7M
FY25
LUNR β$56.0M
PL β$58.7M
FY26
LUNR β
PL $57.7M
LUNR
PL
Return on capital
FY20
LUNR β
PL β
FY21
LUNR β
PL β
FY22
LUNR β
PL β70.6%
FY23
LUNR β
PL β85.5%
FY24
LUNR β
PL β69.4%
FY25
LUNR β
PL β41.9%
FY26
LUNR β
PL β70.1%
LUNR
PL
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.