Palantir Replaces Salesforce as America’s 10th Biggest Tech Company

Key takeaways

• Following its Q1 2025 earnings report, Palantir has replaced Salesforce as America’s tenth biggest tech company
• Palantir & Tesla are outliers in terms of their forward P/E ratio

The forward price-to-earnings (forward P/E) ratio is a valuation metric that compares a company’s current share price to its expected earnings per share (EPS) over the next 12 months.

In simple terms, it tells investors how much they are paying today for each dollar of a company’s future expected profits — helping them gauge whether a stock is cheap or expensive relative to its expected earnings.