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The latest data point for PLTR's EV/EBITDA ratio, as of Q1'26, stands at 461.67, reflecting a significant rebound from the previous quarter's low of 189.35 in Q4'25 and indicating heightened market valuation relative to earnings before interest, taxes, depreciation, and amortization. Over the period from Q2'23 to Q1'26, the EV/EBITDA ratio exhibits high volatility with an overall downward trend initially, starting at a peak of 909 in Q2'23 before declining sharply to around 116 by Q2'24, suggesting improved affordability for investors amid potential earnings growth. Subsequent quarters show erratic fluctuations, with notable spikes to 523 in Q4'24 and 494 in Q2'25, followed by a dip to 189 in Q4'25, before the recent uptick; this pattern highlights sensitivity to market sentiment and operational shifts in the tech sector, warranting caution for valuation assessments.