PL vs PLTR: How Planet Labs and Palantir Technologies Compare (2026)

Same yardstick, side by side (as of July 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: PLTR is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. PL and PLTR share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined PL and PLTR exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Planet Labs operates one of the world's largest constellations of Earth-imaging satellites and sells the data and analytics derived from them. Its fleet of small satellites images the entire landmass of Earth frequently, giving customers a near-daily, regularly updated picture of what is happening on the ground. Planet makes money mostly through subscriptions: customers pay recurring fees to access its imagery archive and fresh captures through a software platform, plus higher-value analytics that turn raw imagery into insights (for example detecting changes, monitoring crops, tracking infrastructure, or counting objects). Customers span agriculture, government and defense, mapping, civil and environmental monitoring, energy, and finance. Increasingly, Planet emphasizes AI-enabled analytics that extract actionable intelligence from its vast imagery feed rather than selling pixels alone. Founded in 2010 and headquartered in San Francisco, Planet went public via SPAC in 2021 and is positioned as a data-subscription business built on a unique, hard-to-replicate daily-imaging asset, with defense and government demand a growing pillar.

Full PL guide

Palantir Technologies provides data integration, analytics, and AI software to government and commercial customers. The company organizes around three main platforms. Gotham is the original government-focused platform used for intelligence, defense, and law enforcement analytics. Foundry is the commercial counterpart used for enterprise data integration and analytics. Apollo is the deployment platform that ships the above to customers' environments (cloud or on-premises). The newer Artificial Intelligence Platform (AIP) layers generative AI workflows on top of Gotham and Foundry data, allowing customers to build AI agents on their own proprietary data.

Full PLTR guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• PL drivers: Unique daily-imaging asset; Recurring subscription model.
• PLTR drivers: AIP-driven commercial expansion; US government and defense.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Planet has historically operated at a loss and must show a credible path to sustained profitability, a key concern for a capital-intensive satellite business that must continually fund and replenish its constellation. For PLTR, the valuation reflects extraordinary expectations for AIP-driven growth and is among the highest in software.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick PL if you believe its drivers more; PLTR if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the PL and PLTR guides.

PL. Planet trades as a growth and data-platform story rather than on current earnings. Its valuation reflects the scarcity value of a unique daily-imaging constellation and recurring subscription revenue, balanced against ongoing losses, capital intensity, and the need to demonstrate a clear path to profitable scale.

PLTR. Palantir trades at one of the highest valuations in software by virtually any metric. The premium reflects the AIP-driven growth story, the durable government revenue base, and the rule-of-40 financials. The multiple is sensitive to any growth deceleration; downside risk is substantial if AIP momentum slows.

Headline figures (approximate, early 2026): PL shows revenue (ttm) ~$250 million, revenue growth moderate, somewhat lumpy, operating margin negative (still scaling toward profitability), gross margin ~50-60% and improving; PLTR shows revenue (ttm) ~$3.5 billion, operating margin ~25% (non-GAAP); GAAP is lower, net income (ttm) ~$700 million (GAAP), eps (ttm) ~$0.30.

PL and PLTR are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined PL and PLTR exposure against your real portfolio. It is not an investment adviser.