Palantir Technologies

Palantir has not plowed capital into large acquisitions; instead it invests organically in product. However, capital allocation has been mixed. Foremost, Palantir has issued a large number of shares to fund growth versus only a small amount in buybacks. This dilution offsets much of the intrinsic value created.

The company could do more share repurchases. Overall we see reasonable reinvestment in the business but significant equity dilution. Score ~50/100.