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Planet Labs PBC (PL) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Planet Labs PBC $2.23, price $16.38, upside -86.4%, quality 31 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Industrials · US · ISIN US72703X1063

PL Planet Labs PBC logo Thin data Sep 23, 2026

Planet Labs PBC

PL · US

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

Weakest SetupStrongly overvalued and low quality.

!Fair value $2.23 · Strongly overvalued (−86%)
!Quality 31/100
!Expensive Growth (revenue 5y +22.1 %/yr)
!Loss-making · -111.2% net margin (TTM)
!High debt · generates free cash flow
!Trails peers (1/11)
!Narrow moat 10/100
!Insider activity 44/100
!Evidence only low, so the estimate is less certain
!The models disagree: range $0.9900 to $3.86
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$51.40 $1.69 Fair Value $2.23 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range $1.69 – $51.40 · fair‑value band $0.9900 – $3.86 · the $16.38 price screens above the $2.23 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Planet Labs PBC engages in the design, construction, and launch of constellations of satellites with the intent of providing high-cadence geospatial data delivered to customers through an online platform in the United States and internationally.

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Planet Labs PBC engages in the design, construction, and launch of constellations of satellites with the intent of providing high-cadence geospatial data delivered to customers through an online platform in the United States and internationally. The company offers SuperDove satellites to create an always-online scanner for the planet, with the goal of imaging the Earth every day at a ground sampling distance (GSD) resolution of up to 3.5 meters. This combines planet monitoring with other scientific-grade radiometric data from public satellite data programs; and SkySat and Pelican satellites to capture a specified location several times per day, achieving a GSD resolution of up to 50 centimeters after processing, powered by an application programming interface. It also provides Tanager, a hyperspectral imaging satellite that delivers full-spectrum imagery across the visible and shortwave infrared regions, and the Earth Observation platform, which enables customers and partners to access, analyze, and act on its proprietary data catalog by discovering image tasking capacity, relevant data layers, extracting useful information, and delivering insights through custom-built solutions or GIS workflows via APIs and browser-based applications. In addition, the company's satellite services arrangements include designing and manufacturing customer-owned satellites, mission systems engineering, launch procurement, ground station infrastructure, satellite operations, and maintenance, as well as dedicated image tasking capacity on company-owned or customer-owned satellites. It serves agriculture, mapping, energy, forestry, finance, and insurance companies, as well as government agencies. Planet Labs PBC was founded in 2010 and is headquartered in San Francisco, California.

Stock analysis

Planet Labs PBC (PL) currently trades at $16.38, while our model-based Fair Value estimate is $2.23, implying the stock looks roughly 634.8% overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of $2.79 per share, and 0 of the 7 models we run sit above the $16.38 price.

Bear case: the Asset-Based group reads lowest at $0.3800, and 7 of the 7 models stay below the price. Evidence for this calculation is low.

Scenario range: $0.9900 (bear) to $3.86 (bull), the price of $16.38 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 31/100 (below-average quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Planet Labs PBC reported revenue of $308M in FY2026 versus $131M in FY2022, a compound +23.8%/yr. Reported net income was −$247M in FY2026.

Key figures

Market cap $8.0B · P/S ratio 23.9 · EPS (TTM) $−1.16 · Net margin −80.2% · Return on equity −84.0% · Return on assets (EBIT) −17.9% · Operating margin −30.5% · Revenue (TTM) $336M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 68% below its 52-week high and 47% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −20% fair-value upside, at −86%, PL screens richer than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely ($0.3800 to $4.22). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear $0.9900 Fair Value $2.23 Bull $3.86
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF $2.02 $3.79 $8.64 74
Growth DCF $1.90 $4.22 $8.45 73
5Y Revenue Exit $0.9900 $2.18 $4.38 68
All 7 models by family
DCF Models
FCF DCF $2.02 $3.79 $8.64 74
5Y Revenue Exit $0.9900 $2.18 $4.38 68
10Y Revenue Exit $1.25 $2.79 $4.59 64
Multiples
EV/Revenue $0.5100 $1.01 $1.51 51
Asset-Based
NCAV (Graham) $0.2800 $0.3800 $0.5700 54
Growth DCF
Growth DCF $1.90 $4.22 $8.45 73
Rev-Margin DCF $0.9900 $2.33 $4.31 68

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Quality Score breakdown

Overall quality 31/100

Of which business quality 37 · Market factors (momentum, volatility) 28

Profitability 8
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 64
Earnings quality: real cash, not paper profit
Fin. Strength 45
Balance sheet, leverage, solvency risk
Investment 42
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 30
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 61/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+25.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.1%
Start year 2021 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+21.5%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−77.3% (2021) → −30.9% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+45.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+28.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +41.7% a year for the price and +25.5% for the forecasts.
Forecast 2027 (sales)+41.7%
Forecast 2028 (sales)+30.9%
Projected 2029 (sales)+27.3%
Projected 2030 (sales)+23.7%
Projected 2031 (sales)+20.1%

PL screens 635% overvalued. Compare with General Electric Company →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Aerospace & Defense · 228 stocks

Beats the industry median on 1/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 31 · Bottom 25%
Fair Value upside −86% · Bottom 25%
Profitability
Return on assets −6% · Bottom 25%
Net margin (TTM) −111% · Bottom 25%
Operating margin (TTM) −30% · Bottom 25%
Growth and dividend
Revenue growth 42% · Top 25%
Balance sheet
Debt / equity 2.37× · Highest 25%

Valuation Multiplesvs Aerospace & Defense median · lower = cheaper

P/B 42.50× · Priciest 25%
P/S (TTM) 23.86× · Priciest 25%
P/FCF 138.9× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 47
PAST (return on equity)0 · sector 38
HEALTH (low debt)0 · sector 93
DIVIDEND (yield)0 · sector 17

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Weapons Defense

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10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate.

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Airbus SE AIR €194.60 €112.75 −42%
Safran SA SAF €332.00 €365.20 +10%
Lockheed Martin Corporation LMT $522.34 $440.05 −16%
Howmet Aerospace Inc HWM $225.36 $52.47 −77%
General Dynamics Corporation GD $343.39 $274.32 −20%
Northrop Grumman Corporation NOC $509.86 $383.06 −25%
TransDigm Group TDG $1,112 $1,224 +10%
L3Harris Technologies, Inc LHX $239.89 $263.88 +10%

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Planet Labs PBC · Fair Value
$2.23 −635%Fair Value
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Cite: Fair Value Calculator (2026). "Planet Labs PBC Fair Value". https://www.fairvalue-calculator.com/stock/PL

Frequently asked questions

Is Planet Labs PBC (PL) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $2.23 versus a price of $16.38, about −86% upside (overvalued).
What is the fair value of PL?
Our model-based fair value for Planet Labs PBC is $2.23 (as of Sep 23, 2026), built from audited fundamentals. The current price: $16.38.
What is the quality score of PL?
Planet Labs PBC has a Quality Score of 31/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Planet Labs PBC (PL)?
Our model-based price target is the fair value of $2.23 (as of Sep 23, 2026) from 7 valuation models. Cautious scenario $0.9900, optimistic scenario $3.86. It is a calculation from audited fundamentals, not an analyst target.
What is the Planet Labs PBC stock forecast for 2026?
Our models put fair value at $2.23, about −86% upside versus a price of $16.38 (overvalued). Cautious scenario $0.9900, optimistic scenario $3.86. The calculation is refreshed regularly with new filings.
What is the revenue of Planet Labs PBC (PL)?
Planet Labs PBC reported trailing-twelve-month revenue of about $336M (latest available figure, as of Sep 23, 2026).
What growth is priced into Planet Labs PBC (PL)?
For today's price to be fair in a discounted-cash-flow model, Planet Labs PBC would have to grow free cash flow by +45.0 % per year for five years (discount rate 12.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +22.2 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of PL use?
Our models discount Planet Labs PBC at 12.2 %: a base by market capitalisation (mid), damped by beta 2.07, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Planet Labs PBC that is +45.0 % per year a year over ten years, using the same discount rate (12.2 %) and the same formula as our fair value.
How much growth has Planet Labs PBC (PL) delivered so far?
Over the past 5 years revenue at Planet Labs PBC grew +22.2 % a year. The price currently implies +45.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Planet Labs PBC (PL) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Planet Labs PBC (+45.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Planet Labs PBC (PL)?
The free-cash-flow yield on the price is 1.14 %: that much free cash flow Planet Labs PBC produces per unit of market value. When it exceeds the discount rate of our models (12.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Planet Labs PBC (PL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Planet Labs PBC it is $2.23 per share (as of Sep 23, 2026), against a price of $16.38. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Planet Labs PBC stock overvalued or undervalued in 2026?
As of Sep 23, 2026, PL trades above its calculated fair value: price $16.38, fair value $2.23, a gap of about −86% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PL?
No. The price is what the market pays today ($16.38); the fair value is what the company's own numbers justify ($2.23). For Planet Labs PBC the two are $14.15 per share apart. That gap is exactly why we show both numbers side by side.
How much is Planet Labs PBC worth?
The market values Planet Labs PBC at about $8.0B (market capitalisation, as of Sep 23, 2026). Per share that is $16.38; our models calculate a fair value of $2.23 per share.
What do the bullish and bearish scenarios say about PL?
Our models span a range for Planet Labs PBC: cautious scenario $0.9900, base $2.23, optimistic $3.86 per share (as of Sep 23, 2026, price $16.38). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Planet Labs PBC (PL)?
Balance-sheet figures for Planet Labs PBC (as of Sep 23, 2026): return on equity −84.0%, debt of 2.37 per unit of equity. They feed the Quality Score of 31/100, which measures business quality independently of the share price.
How far is PL from its 52-week high?
Planet Labs PBC trades at $16.38, about 68% below its 52-week high of $51.40 and 47% above the low of $11.16 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $2.23 is for.
Which stocks are comparable to Planet Labs PBC?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Safran SA, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Planet Labs PBC stock attractive at the current price?
The data as of Sep 23, 2026: price $16.38, calculated fair value $2.23 (−86%), Quality Score 31/100, from 7 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PL calculated?
We run Planet Labs PBC through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $2.23, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Planet Labs PBC itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Planet Labs PBC (PL)?
The closing price on Sep 23, 2026 was $16.38. Our model-based fair value is $2.23, about −86% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Planet Labs PBC right now?
The price sits above even our optimistic bull case ($3.86). The favourable scenario is already priced in. Weak quality (31/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide ($0.9900 to $3.86). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Planet Labs PBC

How large is the market capitalisation of Planet Labs PBC (PL)?
The market capitalisation of Planet Labs PBC is $8.0B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Planet Labs PBC (PL)?
The price-to-sales ratio of Planet Labs PBC is 23.9 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Planet Labs PBC (PL)?
Earnings per share at Planet Labs PBC are $−1.16. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Planet Labs PBC (PL)?
The net margin of Planet Labs PBC is −80.2% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Planet Labs PBC (PL)?
The return on equity (ROE) of Planet Labs PBC is −84.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Planet Labs PBC (PL)?
On an EBIT basis the return on assets of Planet Labs PBC is −17.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Planet Labs PBC (PL)?
The operating margin of Planet Labs PBC is −30.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Planet Labs PBC (PL)?
Revenue at Planet Labs PBC is growing +42.1% versus a year earlier (3y avg +17.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Planet Labs PBC (PL) carry?
The net debt of Planet Labs PBC is $232M (fiscal year 2026, ≈ 4.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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