Common-Size Balance Sheet: Assets
Quarterly Data
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Palantir Technologies Inc. pages available for free this week:
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2020
- Debt to Equity since 2020
- Total Asset Turnover since 2020
- Price to Operating Profit (P/OP) since 2020
- Analysis of Revenues
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Palantir Technologies Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
The composition of assets has undergone significant shifts over the analyzed period, spanning from March 31, 2021, to December 31, 2025. A notable trend is the substantial alteration in the allocation between current and noncurrent assets, particularly concerning cash, marketable securities, and operating lease right-of-use assets.
- Cash and Cash Equivalents
- A consistent decline in cash and cash equivalents as a percentage of total assets is observed from March 31, 2021 (77.61%) to December 31, 2025 (16.00%). This represents a significant reduction in the proportion of liquid assets held by the entity. The most dramatic decrease occurs between March 31, 2023 (34.34%) and December 31, 2024 (33.10%), followed by a further decline to 16.00% by the end of 2025.
- Marketable Securities
- In contrast to the declining cash position, marketable securities demonstrate a marked increase in relative importance, especially from March 31, 2023 (44.52%) onwards. By December 31, 2025, marketable securities constitute 64.64% of total assets, indicating a strategic shift towards more liquid, but less immediately accessible, investments. This increase largely offsets the decrease in cash holdings.
- Accounts Receivable, Net
- Accounts receivable, net, exhibits a relatively stable percentage of total assets, fluctuating between approximately 5% and 12.7% throughout the period. A slight upward trend is visible from 2021 to 2023, peaking at 12.40% in September 2025, before decreasing slightly to 11.71% by year-end. This suggests a consistent, though modestly growing, level of credit extended to customers.
- Current vs. Noncurrent Assets
- Current assets consistently represent the vast majority of total assets, remaining above 85% throughout the analyzed timeframe. However, a gradual decrease in the percentage of current assets is observed, coupled with a corresponding increase in noncurrent assets. This shift is primarily driven by the changes in cash, marketable securities, and operating lease right-of-use assets. The proportion of noncurrent assets increases from 14.08% in March 2021 to 6.09% in December 2025.
- Operating Lease Right-of-Use Assets
- Operating lease right-of-use assets show a consistent decline as a percentage of total assets, decreasing from 7.08% in March 2021 to 2.25% in December 2025. This suggests a reduction in the entity’s reliance on operating leases relative to its overall asset base.
- Property and Equipment, Net
- Property and equipment, net, remains a relatively small portion of total assets, generally below 2%. A gradual decline is observed throughout the period, indicating limited investment in fixed assets relative to the overall asset base.
Overall, the asset composition demonstrates a strategic move away from highly liquid cash holdings towards marketable securities, alongside a slight increase in the relative importance of noncurrent assets. This suggests a potential shift in investment strategy and a changing approach to asset allocation.