Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
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Palantir Technologies Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity
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).
- Liabilities
- The total liabilities as a percentage of total liabilities and equity have shown a consistent decline over the reported periods, decreasing from 43.41% in 2020 to 19.66% in 2024. Current liabilities have similarly decreased from 22.44% to 15.71%, indicating a reduction in short-term obligations. Noncurrent liabilities demonstrate a more significant decline, dropping from 20.97% in 2020 to 3.95% in 2024, driven largely by the elimination of noncurrent debt (7.36% in 2020 to none reported thereafter) and a reduction in operating lease liabilities from 8.54% to 3.08% over the same timeframe.
- Specific Current Liabilities
- Accounts payable as a percentage of total liabilities and equity fluctuated, increasing from 0.61% in 2020 to 2.31% in 2021 before steadily decreasing to 0% in 2024. Accrued payroll and related expenses decreased initially from 3.18% in 2020 to 1.26% in 2022 but then increased sharply to 4.84% in 2024. Accrued taxes rose from 0.69% in 2021 to peak at 1.19% in 2022 before falling back to 0.67% in 2024. Deferred revenue, current, decreased from 7.04% in 2020 to 4.09% in 2024, and customer deposits, current, also declined from 7.82% to 4.18% over the same period. Operating lease liabilities, current, showed a slight decline from 1.08% in 2020 to 0.69% in 2024.
- Noncurrent Liabilities
- Deferred revenue, noncurrent, fell from 1.88% in 2020 to 0.63% in 2024, while customer deposits, noncurrent, sharply decreased from 3.03% to 0.03%, indicating decreased long-term liability commitments. Operating lease liabilities, noncurrent, diminished markedly from 8.54% in 2020 to 3.08% in 2024, contributing to the overall contraction in noncurrent liabilities. Other noncurrent liabilities remained relatively low and stable, fluctuating between 0.07% and 0.37%.
- Equity
- Total equity as a percentage of total liabilities and equity has increased steadily from 56.59% in 2020 to 80.34% in 2024, indicating a strengthening equity base. This growth is primarily reflected in a reduction of accumulated deficit from -184.55% in 2020 to -81.81% in 2024, suggesting improved retained earnings or reduction in losses over time. Additional paid-in capital showed a decline after 2022, moving from approximately 243.5% down to 160.77% in 2024, which may reflect capital returns or accounting adjustments. Common stock and accumulated other comprehensive income (loss) remained relatively stable and minimal as proportions of total liabilities and equity. Noncontrolling interests appeared beginning in 2022, then gradually decreased from 2.23% to 1.44% by 2024.
- Overall Observations
- The overall financial structure indicates a trend toward lower leverage and reduced liabilities, both current and noncurrent, alongside a substantial increase in equity proportion. The decrease in debt and lease obligations contributes to this shift, while equity benefits from a significant shrinking of accumulated deficit. However, the decline in additional paid-in capital may warrant further review. The company's evolving financial profile suggests improving solvency and potentially greater financial stability over the five-year period.