Stock Analysis on Net
Stock Analysis on Net

Palantir Technologies Inc. (NASDAQ:PLTR)

Analysis of Investments

Microsoft Excel

Adjustment to Net Income (Loss): Mark to Market Available-for-sale Securities

Palantir Technologies Inc., adjustment to net income (loss) attributable to common stockholders

US$ in thousands

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net income (loss) attributable to common stockholders (as reported) 462,190 209,825 (373,705) (520,379) (1,166,391)
Add: Net unrealized gain (loss) on available-for-sale securities (3,026) 3,435 — — —
Net income (loss) attributable to common stockholders (adjusted) 459,164 213,260 (373,705) (520,379) (1,166,391)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Adjusted Profitability Ratios: Mark to Market Available-for-sale Securities (Summary)

Palantir Technologies Inc., adjusted profitability ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net Profit Margin
Reported net profit margin 16.13% 9.43% -19.61% -33.75% -106.75%
Adjusted net profit margin 16.02% 9.58% -19.61% -33.75% -106.75%
Return on Equity (ROE)
Reported ROE 9.24% 6.04% -14.57% -22.71% -76.61%
Adjusted ROE 9.18% 6.14% -14.57% -22.71% -76.61%
Return on Assets (ROA)
Reported ROA 7.29% 4.64% -10.80% -16.02% -43.35%
Adjusted ROA 7.24% 4.72% -10.80% -16.02% -43.35%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Palantir Technologies Inc. adjusted net profit margin ratio improved from 2022 to 2023 and from 2023 to 2024.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by shareholders’ equity. Palantir Technologies Inc. adjusted ROE improved from 2022 to 2023 and from 2023 to 2024.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. Palantir Technologies Inc. adjusted ROA improved from 2022 to 2023 and from 2023 to 2024.

Palantir Technologies Inc., Profitability Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss) attributable to common stockholders 462,190 209,825 (373,705) (520,379) (1,166,391)
Revenue 2,865,507 2,225,012 1,905,871 1,541,889 1,092,673
Profitability Ratio
Net profit margin1 16.13% 9.43% -19.61% -33.75% -106.75%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income (loss) attributable to common stockholders 459,164 213,260 (373,705) (520,379) (1,166,391)
Revenue 2,865,507 2,225,012 1,905,871 1,541,889 1,092,673
Profitability Ratio
Adjusted net profit margin2 16.02% 9.58% -19.61% -33.75% -106.75%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

1 Net profit margin = 100 × Net income (loss) attributable to common stockholders ÷ Revenue
= 100 × 462,190 ÷ 2,865,507 = 16.13%

2 Adjusted net profit margin = 100 × Adjusted net income (loss) attributable to common stockholders ÷ Revenue
= 100 × 459,164 ÷ 2,865,507 = 16.02%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Palantir Technologies Inc. adjusted net profit margin ratio improved from 2022 to 2023 and from 2023 to 2024.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss) attributable to common stockholders 462,190 209,825 (373,705) (520,379) (1,166,391)
Total Palantir’s stockholders’ equity 5,003,275 3,475,561 2,565,326 2,291,030 1,522,550
Profitability Ratio
ROE1 9.24% 6.04% -14.57% -22.71% -76.61%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income (loss) attributable to common stockholders 459,164 213,260 (373,705) (520,379) (1,166,391)
Total Palantir’s stockholders’ equity 5,003,275 3,475,561 2,565,326 2,291,030 1,522,550
Profitability Ratio
Adjusted ROE2 9.18% 6.14% -14.57% -22.71% -76.61%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

1 ROE = 100 × Net income (loss) attributable to common stockholders ÷ Total Palantir’s stockholders’ equity
= 100 × 462,190 ÷ 5,003,275 = 9.24%

2 Adjusted ROE = 100 × Adjusted net income (loss) attributable to common stockholders ÷ Total Palantir’s stockholders’ equity
= 100 × 459,164 ÷ 5,003,275 = 9.18%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by shareholders’ equity. Palantir Technologies Inc. adjusted ROE improved from 2022 to 2023 and from 2023 to 2024.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss) attributable to common stockholders 462,190 209,825 (373,705) (520,379) (1,166,391)
Total assets 6,340,884 4,522,425 3,461,239 3,247,450 2,690,504
Profitability Ratio
ROA1 7.29% 4.64% -10.80% -16.02% -43.35%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income (loss) attributable to common stockholders 459,164 213,260 (373,705) (520,379) (1,166,391)
Total assets 6,340,884 4,522,425 3,461,239 3,247,450 2,690,504
Profitability Ratio
Adjusted ROA2 7.24% 4.72% -10.80% -16.02% -43.35%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

1 ROA = 100 × Net income (loss) attributable to common stockholders ÷ Total assets
= 100 × 462,190 ÷ 6,340,884 = 7.29%

2 Adjusted ROA = 100 × Adjusted net income (loss) attributable to common stockholders ÷ Total assets
= 100 × 459,164 ÷ 6,340,884 = 7.24%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. Palantir Technologies Inc. adjusted ROA improved from 2022 to 2023 and from 2023 to 2024.