Stock Analysis on Net
Stock Analysis on Net

Palantir Technologies Inc. (NYSE: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, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net income (loss) attributable to common stockholders (as reported) 209,825 (373,705) (520,379) (1,166,391)
Add: Net unrealized gain (loss) on available-for-sale securities 3,435 — — —
Net income (loss) attributable to common stockholders (adjusted) 213,260 (373,705) (520,379) (1,166,391)

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

Based on: 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 2021 to 2022 and from 2022 to 2023.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by shareholders’ equity. Palantir Technologies Inc. adjusted ROE improved from 2021 to 2022 and from 2022 to 2023.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. Palantir Technologies Inc. adjusted ROA improved from 2021 to 2022 and from 2022 to 2023.

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

Adjusted Net Profit Margin

Microsoft Excel
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 209,825 (373,705) (520,379) (1,166,391)
Revenue 2,225,012 1,905,871 1,541,889 1,092,673
Profitability Ratio
Net profit margin1 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 213,260 (373,705) (520,379) (1,166,391)
Revenue 2,225,012 1,905,871 1,541,889 1,092,673
Profitability Ratio
Adjusted net profit margin2 9.58% -19.61% -33.75% -106.75%

Based on: 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).

2023 Calculations

1 Net profit margin = 100 × Net income (loss) attributable to common stockholders ÷ Revenue
= 100 × 209,825 ÷ 2,225,012 = 9.43%

2 Adjusted net profit margin = 100 × Adjusted net income (loss) attributable to common stockholders ÷ Revenue
= 100 × 213,260 ÷ 2,225,012 = 9.58%

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 2021 to 2022 and from 2022 to 2023.

Adjusted Return on Equity (ROE)

Microsoft Excel
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 209,825 (373,705) (520,379) (1,166,391)
Stockholders’ equity 3,475,561 2,565,326 2,291,030 1,522,550
Profitability Ratio
ROE1 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 213,260 (373,705) (520,379) (1,166,391)
Stockholders’ equity 3,475,561 2,565,326 2,291,030 1,522,550
Profitability Ratio
Adjusted ROE2 6.14% -14.57% -22.71% -76.61%

Based on: 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).

2023 Calculations

1 ROE = 100 × Net income (loss) attributable to common stockholders ÷ Stockholders’ equity
= 100 × 209,825 ÷ 3,475,561 = 6.04%

2 Adjusted ROE = 100 × Adjusted net income (loss) attributable to common stockholders ÷ Stockholders’ equity
= 100 × 213,260 ÷ 3,475,561 = 6.14%

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 2021 to 2022 and from 2022 to 2023.

Adjusted Return on Assets (ROA)

Microsoft Excel
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 209,825 (373,705) (520,379) (1,166,391)
Total assets 4,522,425 3,461,239 3,247,450 2,690,504
Profitability Ratio
ROA1 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 213,260 (373,705) (520,379) (1,166,391)
Total assets 4,522,425 3,461,239 3,247,450 2,690,504
Profitability Ratio
Adjusted ROA2 4.72% -10.80% -16.02% -43.35%

Based on: 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).

2023 Calculations

1 ROA = 100 × Net income (loss) attributable to common stockholders ÷ Total assets
= 100 × 209,825 ÷ 4,522,425 = 4.64%

2 Adjusted ROA = 100 × Adjusted net income (loss) attributable to common stockholders ÷ Total assets
= 100 × 213,260 ÷ 4,522,425 = 4.72%

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 2021 to 2022 and from 2022 to 2023.