Fundamental analysis · SEC EDGAR · TTM through 30/04/2026

Fundamental analysis of Planet Labs Pbc

PL · NYSE · Technology

Fundamental quality

REASONABLE

59

out of 100

Planet Labs Pbc is in full growth mode but not yet profitable: revenue is growing strongly (23% a year), but it doesn't translate into earnings yet. On fundamental quality it scores 59 out of 100, profiling it as a company of reasonable quality. Its weakest area is its profitability (net margin -111.2%). Whether it's cheap or expensive depends on the current price, which you can compute in the tool.

What the company does

Planet Labs operates the world's largest Earth-observation satellite fleet: it photographs the entire planet daily and sells the imagery and its analysis by subscription to governments, agriculture and defense.

What will shape its future

  • Defense and intelligence spending, its strongest commercial engine since the war in Ukraine.
  • Moving from selling images to selling analysis (AI on its data), where the margin is.
  • Its path to profitability: the fleet is deployed; sales now have to pay it off.

Breakdown by area

I.Growth
87

Revenue growth: 23%

II.Profitability
41

Net margin: -111.2% · ROE: -84.1%

III.Financial health
50

Net debt/EBITDA: 5.64x · FCF: 13.9%

Source: SEC EDGAR · TTM through 30/04/2026

The score combines growth, profitability and financial strength. Here its growth weighs in its favor, while its profitability drags it down the most.

Key concepts

What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow

Strengths

  • Revenue growing strongly (23% annualized).
  • High gross margin (55.5%), pointing to pricing power.
  • Strong free-cash-flow generation (FCF margin of 13.9%): profit turns into real cash.
  • Revenue rising without interruption since 2021.

Risks and weaknesses

  • No profits over the last twelve months (negative EPS).
  • Losses over the last twelve months (net margin of -111.2%).
  • Very high leverage (net debt of 5.64× EBITDA): more exposed to rates and to a rough patch.
  • Erratic free cash flow, with several years in the red.

Historical evolution

YearRevenueNet incomeFree cash flowNet debt
2021113-127-30-71
2022131-137-53-491
2023191-162-84-182
2024221-141-89-84
2025244-123-59-118
2026308-24758-229

Between 2021 and 2026, revenue went from $113M to $308M (+172%) and net income went from -$127M to -$247M (-94%).

Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.

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Is Planet Labs Pbc cheap or expensive?

That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).

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Frequently asked questions

Is Planet Labs Pbc a good company to invest in?

In terms of business quality, Planet Labs Pbc scores 59 out of 100 in our analysis, placing it as a company of reasonable quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.

Is Planet Labs Pbc a profitable company?

Over the last twelve months, no: Planet Labs Pbc posts a negative net margin (-111.2%).

Does Planet Labs Pbc have a lot of debt?

Yes, its leverage is high: net debt is 5.64 times its EBITDA.

Is Planet Labs Pbc growing?

Its revenue has grown 23% annualized in recent years, and without interruption since 2021.

Does Planet Labs Pbc generate cash?

Yes. It converts about 13.9% of its revenue into free cash flow.

The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.

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