Stock Analysis on Net
Stock Analysis on Net

Palantir Technologies Inc. (NASDAQ:PLTR)

Common-Size Balance Sheet: Assets 
Quarterly Data

Palantir Technologies Inc., common-size consolidated balance sheet: assets (quarterly data)

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Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Cash and cash equivalents 12.62 14.75 33.10 13.33 9.87 10.83 18.38 24.81 26.53 34.34 75.08 72.65 71.85 68.37 70.54 72.42 76.12 77.61
Marketable securities 68.84 65.86 49.39 65.81 67.14 69.64 62.87 53.49 51.44 44.52 1.02 1.73 3.02 7.61 7.21 4.59 0.00 0.00
Accounts receivable, net 10.15 10.76 9.07 11.58 12.70 10.13 8.07 10.26 9.44 6.90 7.46 10.34 8.10 7.73 5.88 5.41 7.90 5.02
Prepaid expenses and other current assets 1.93 1.88 2.04 2.07 2.23 1.69 2.20 2.28 2.46 2.65 4.32 4.06 5.45 4.48 4.54 4.77 2.55 3.28
Current assets 93.55% 93.26% 93.59% 92.79% 91.94% 92.28% 91.51% 90.84% 89.87% 88.41% 87.88% 88.78% 88.43% 88.20% 88.17% 87.20% 86.57% 85.92%
Property and equipment, net 0.59 0.59 0.63 0.70 0.84 0.98 1.06 1.20 1.36 1.71 2.00 1.74 1.45 1.26 0.96 0.89 0.81 0.91
Operating lease right-of-use assets 2.76 3.11 3.17 3.67 4.11 3.61 4.04 4.54 5.02 5.70 5.79 6.01 6.44 6.78 6.68 6.85 6.80 7.08
Other assets 3.10 3.05 2.62 2.85 3.11 3.13 3.39 3.43 3.76 4.18 4.34 3.47 3.68 3.77 4.19 5.06 5.82 6.10
Noncurrent assets 6.45% 6.74% 6.41% 7.21% 8.06% 7.72% 8.49% 9.16% 10.13% 11.59% 12.12% 11.22% 11.57% 11.80% 11.83% 12.80% 13.43% 14.08%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets showed a general decreasing trend over the analyzed period. Starting at a high level above 70% through 2021 and most of 2022, this figure significantly declined beginning in early 2023, reaching a low below 13% by mid-2025. An exception to this downward trajectory occurred in the last quarter of 2024, where a notable temporary increase to over 33% was observed.
Marketable securities
Marketable securities as a percentage of total assets increased markedly starting in 2023. Prior to this, values fluctuated between 1% and 8%, but from March 2023 onwards, the proportion surged to above 40% and continued to rise steadily, peaking near 70% by mid-2025. This indicates a strategic shift in asset composition toward more marketable securities relative to cash holdings.
Accounts receivable, net
The relative percentage of accounts receivable experienced moderate fluctuations. Initial values varied between 5% and 10% through late 2022. Starting in 2023, the ratio generally increased, reaching a peak around 12.7% by mid-2024, followed by a slight decline, yet remaining above 10% through mid-2025. Overall, accounts receivable maintained a stable but slightly rising presence in asset composition.
Prepaid expenses and other current assets
This category showed a gradual decline in its relative share of total assets. Values began around 3% in early 2021, fluctuated modestly through 2022, then declined steadily from 2023 onward, settling near 1.9% by mid-2025. This suggests a decreasing emphasis on or utilization of prepaid expenses and similar assets over time.
Current assets
Current assets consistently represented the majority of total assets, maintaining a proportion close to or exceeding 85% throughout the entire period. A notable increase occurred in early 2023, with the ratio growing from around 88% to over 93% by mid-2025. This rising trend highlights a growing allocation of total assets in current, liquid, or near-liquid assets.
Property and equipment, net
The share of property and equipment in total assets slightly increased during 2021 and 2022, moving from under 1% to around 2%. However, from 2023 forward, there was a clear decline, reaching just below 0.6% by mid-2025. This indicates reduced investments or asset base in tangible fixed assets relative to total assets.
Operating lease right-of-use assets
Operating lease right-of-use assets exhibited a persistent downward trend over the entire timeframe, falling from approximately 7% in early 2021 to under 3% by mid-2025. The decline appears steady with minor fluctuations, reflecting a decreasing impact of leased asset rights on total asset composition.
Other assets
Other assets as a percentage of total assets showed a gradual decline from about 6% in early 2021 down to near 3% by mid-2025, with some minor fluctuations. This suggests a relatively minor but slowly reducing component of the overall asset structure.
Noncurrent assets
Noncurrent assets steadily contracted as a portion of total assets, starting from around 14% in early 2021 and falling to approximately 6.5% by mid-2025. The reduction highlights a shift away from long-term assets within the total asset composition over the period.
Total assets
By definition, total assets represent 100% throughout the timeframe, serving as the base for all proportional analyses.