Stock Analysis on Net
Stock Analysis on Net

Palantir Technologies Inc. (NASDAQ:PLTR)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

Palantir Technologies Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Accounts payable 0.09 0.00 0.27 1.29 2.31
Accrued payroll and related expenses 2.01 4.84 1.84 1.26 1.87
Accrued other liabilities 1.99 1.89 3.09 3.73 2.93
Accrued liabilities 4.00% 6.73% 4.93% 4.99% 4.80%
Deferred revenue, current 4.59 4.09 5.46 5.30 7.02
Customer deposits, current 4.01 4.18 4.64 4.10 4.98
Operating lease liabilities, current 0.52 0.69 1.20 1.30 1.23
Current liabilities 13.21% 15.71% 16.50% 16.99% 20.33%
Deferred revenue, noncurrent 0.52 0.63 0.62 0.29 1.24
Customer deposits, noncurrent 0.00 0.03 0.03 0.11 1.04
Operating lease liabilities, noncurrent 2.06 3.08 3.87 5.90 6.78
Other noncurrent liabilities 0.08 0.22 0.24 0.37 0.07
Noncurrent liabilities 2.66% 3.95% 4.76% 6.67% 9.13%
Total liabilities 15.87% 19.66% 21.26% 23.66% 29.45%
Common stock, $0.001 par value 0.03 0.04 0.05 0.06 0.06
Additional paid-in capital 122.84 160.77 201.71 243.50 239.48
Accumulated other comprehensive income (loss), net 0.16 -0.09 0.02 -0.15 -0.07
Accumulated deficit -40.03 -81.81 -124.92 -169.29 -168.92
Total Palantir’s stockholders’ equity 83.00% 78.91% 76.85% 74.12% 70.55%
Noncontrolling interests 1.13 1.44 1.89 2.23 0.00
Total equity 84.13% 80.34% 78.74% 76.34% 70.55%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2025-12-31), 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).

The composition of liabilities and stockholders’ equity exhibits notable shifts over the five-year period. A consistent decrease in the proportion of total liabilities is observed, while stockholders’ equity demonstrates a generally increasing trend. Within liabilities, current liabilities show a declining percentage of the total, while noncurrent liabilities experience a more pronounced reduction.

Current Liabilities
Current liabilities, representing 20.33% of total liabilities and equity in 2021, decreased to 13.21% by 2025. This decline is primarily driven by reductions in accounts payable, deferred revenue (current), and customer deposits (current). Accrued liabilities and accrued payroll expenses show some volatility, with accrued payroll increasing significantly in 2024 before decreasing in 2025. Operating lease liabilities (current) also contribute to the overall decrease.
Noncurrent Liabilities
Noncurrent liabilities experienced a more substantial decrease, falling from 9.13% in 2021 to 2.66% in 2025. The most significant contributor to this reduction is the decrease in operating lease liabilities (noncurrent). Customer deposits (noncurrent) also diminish considerably, becoming negligible by 2025. Other noncurrent liabilities remain a small percentage throughout the period.
Total Liabilities
As a result of the declines in both current and noncurrent liabilities, total liabilities decreased from 29.45% of total liabilities and equity in 2021 to 15.87% in 2025. This indicates a decreasing reliance on debt financing or a reduction in overall financial obligations.
Stockholders’ Equity
Total stockholders’ equity increased from 70.55% in 2021 to 83.00% in 2025, becoming the dominant component of the company’s capital structure. This growth is largely attributable to a substantial increase in additional paid-in capital, although partially offset by a decreasing accumulated deficit. Common stock represents a consistently small percentage. Accumulated other comprehensive income (loss) fluctuates, but remains a minor component. Noncontrolling interests are introduced in 2022 and gradually decrease as a percentage of total equity.
Specific Liability Accounts
Accounts payable demonstrate a significant reduction over the period, falling to 0.00% in 2024 before a slight increase in 2025. Deferred revenue (current) also shows a decreasing trend, though remaining a notable portion of current liabilities. Accrued payroll and related expenses show a marked increase in 2024, potentially indicating a timing difference in expense recognition, followed by a decrease in 2025.

In summary, the company’s financial structure is evolving towards greater reliance on equity financing and a reduction in overall liabilities. The decreasing proportion of both current and noncurrent liabilities suggests improved financial stability and a potentially more conservative financial strategy.

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