Planet Labs PBC (PL) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-179.6%

-$10.54

vs $13.24 price

Levered DCF

-$4.61

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

1.61

Distress zone

Rating

D+

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
P/E	-31.21×	-14.52×	-4.52×	-8.11×	-11.73×	-3.36×	-3.45×
P/B	40.79×	4.04×	1.22×	2.3×	2.47×	3.97×	1.96×
P/S	24.98×	7.29×	2.86×	6.91×	12.19×	3.77×	4.46×
EV / EBITDA	-40.21×	-29.42×	-6.22×	-9.87×	-13.65×	-9.56×	-11.86×
Gross margin	56.1%	57.2%	51.2%	49.2%	36.8%	22.8%	-7.0%
Operating margin	-30.9%	-47.5%	-76.9%	-91.9%	-97.6%	-77.3%	-111.2%
Net margin	-80.2%	-50.4%	-63.7%	-84.7%	-104.5%	-112.3%	-129.2%
Current ratio	1.65×	2.13×	2.71×	3.89×	4.18×	1.15×	0.85×
Debt / equity	2.45×	0.05×	0.05×	0.04×	0×	1.52×	0.26×
Interest coverage	-27.67×	0×	0×	0×	-14.6×	-9.26×	-15.33×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	-131.0%	-27.9%	-27.1%	-28.1%	-21.2%	-118.2%	-56.8%
Return on invested capital	-13.9%	-23.2%	-29.6%	-27.7%	-18.6%	-36.9%	-35.2%
Return on assets	-21.5%	-19.4%	-20.0%	-21.5%	-16.7%	-31.8%	-34.1%
Free cash flow yield	0.8%	-3.3%	-14.7%	-6.6%	-3.6%	-8.0%	-13.5%
Earnings yield	-3.2%	-6.9%	-22.2%	-12.2%	-8.6%	-29.8%	-29.0%
Enterprise value	$7.9B	$1.7B	$572.9M	$1.2B	$1.1B	$519.6M	$462.7M
Net debt / EBITDA	-1.18×	1.81×	0.64×	1.36×	6.04×	-1.7×	-0.92×
Cash conversion cycle (days)	87	74	63	48	111	146	98