$Palantir Tech(PLTR.US) Overly focusing on the P/E ratio is not quite appropriate. The P/E ratio is a reference, but not the only one.

Military and government recognition and trust are the best demonstration of moat capability. It doesn't need to immediately find so many government and corporate clients to give it orders; it just needs to prove that it is currently the only one of its kind in this field.

Just like $Costco Wholesale(COST.US) is also a perennial high P/E player. The reason is none other than stability, reliability, strong business model, and a deep moat; other peers are simply not comparable.

Even a giant like $Walmart(WMT.US) cannot achieve better performance than Sam's Club on a global scale (Mainland China is an exception, due to Walmart's first-mover advantage and years of cultivating supply chains and localization here).