Palantir vs Snowflake
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The short version
- Snowflake is the larger business, with $4.7B of revenue in fiscal 2026 against $4.5B for Palantir.
- Palantir grew revenue faster (56.2%, against 29.2%).
- Palantir kept more of each dollar of sales as operating profit (31.6% operating margin, against β30.6%).
- Palantir turned more of its sales into free cash flow (46.9% FCF margin, against 23.9%).
| Latest fiscal year | PLTR Β· FY25 | SNOW Β· FY26 |
|---|---|---|
| Size | ||
| Market cap | $505.4B | $113.7B |
| Revenue | $4.5B | $4.7B |
| Free cash flow | $2.1B | $1.1B |
| Net income | $1.6B | β$1.3B |
| Growth | ||
| Revenue growth | 56.2% | 29.2% |
| 5-year growth | 32.6% | 51.2% |
| Share count change | 4.7% | 1.4% |
| Profitability | ||
| Gross margin | 82.4% | 67.2% |
| Operating margin | 31.6% | β30.6% |
| Net margin | 36.3% | β28.4% |
| FCF margin | 46.9% | 23.9% |
| Return on capital | β | β |
| Return on equity | 26.2% | β54.1% |
| Balance sheet | ||
| Net debt | β$7.2B | β$1.7B |
| Net debt / EBITDA | β5.0x | β |
| Dividends and buybacks | $75.0M | $874M |
| Valuation & quality | ||
| P/E | 169.6x | β |
| Piotroski F-score | 7 | 6 |
Revenue
FY18
PLTR $595M
SNOW β
FY19
PLTR $743M
SNOW $96.7M
FY20
PLTR $1.1B
SNOW $265M
FY21
PLTR $1.5B
SNOW $592M
FY22
PLTR $1.9B
SNOW $1.2B
FY23
PLTR $2.2B
SNOW $2.1B
FY24
PLTR $2.9B
SNOW $2.8B
FY25
PLTR $4.5B
SNOW $3.6B
FY26
PLTR β
SNOW $4.7B
PLTR
SNOW
Operating margin
FY18
PLTR β104.7%
SNOW β
FY19
PLTR β77.6%
SNOW β191.9%
FY20
PLTR β107.4%
SNOW β135.3%
FY21
PLTR β26.7%
SNOW β91.9%
FY22
PLTR β8.5%
SNOW β58.6%
FY23
PLTR 5.4%
SNOW β40.8%
FY24
PLTR 10.8%
SNOW β39.0%
FY25
PLTR 31.6%
SNOW β40.2%
FY26
PLTR β
SNOW β30.6%
PLTR
SNOW
Free cash flow
FY18
PLTR β$52.0M
SNOW β
FY19
PLTR β$178M
SNOW β$146M
FY20
PLTR β$309M
SNOW β$195M
FY21
PLTR $321M
SNOW β$80.5M
FY22
PLTR $184M
SNOW $94.0M
FY23
PLTR $697M
SNOW $521M
FY24
PLTR $1.1B
SNOW $813M
FY25
PLTR $2.1B
SNOW $913M
FY26
PLTR β
SNOW $1.1B
PLTR
SNOW
Return on capital
FY18
PLTR β
SNOW β
FY19
PLTR β
SNOW β
FY20
PLTR β
SNOW β
FY21
PLTR β
SNOW β
FY22
PLTR β
SNOW β
FY23
PLTR β
SNOW β
FY24
PLTR β
SNOW β
FY25
PLTR β
SNOW β115.9%
FY26
PLTR β
SNOW β
PLTR
SNOW
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.