Analysis of Reportable Segments
Palantir Technologies Inc. operates in 2 segments: Government and Commercial.
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- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2020
- Current Ratio since 2020
- Price to Sales (P/S) since 2020
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Segment Profit Margin
Palantir Technologies Inc., profit margin by reportable segment
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Government | |||||
| Commercial |
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).
- Government Segment Profit Margin
- The government segment profit margin has demonstrated a generally stable trend over the observed period. Starting at 56.86% in 2020, it increased to 60.39% in 2021, indicating an improvement in profitability. Although there was a slight decline to 57.91% in 2022, the margin rebounded to 59.32% in 2023 and further increased to 60.43% in 2024. This suggests consistent strength and resilience in the government segment's profitability with minor fluctuations.
- Commercial Segment Profit Margin
- The commercial segment profit margin shows greater variability over the same timeframe. Beginning at 51.26% in 2020, it rose steadily to 55.47% in 2021. However, there was a notable decline to 49.69% in 2022, representing a setback in commercial segment profitability. Subsequently, the margin recovered modestly to 51.91% in 2023 and experienced a significant increase to 59.53% in 2024. This indicates a volatile but improving profit margin pattern, with a particularly strong upturn in the most recent period.
- Overall Insights
- Both segments reveal an upward tendency in profit margins by 2024 relative to 2020, with the government segment maintaining higher and more consistent margins throughout the period. The commercial segment exhibits more pronounced fluctuations but ends with a substantial improvement, nearly matching the government segment's margin in 2024. The data suggests that while the government segment provides stable profitability, the commercial segment has potential for enhanced margin expansion despite earlier instability.
Segment Profit Margin: Government
Palantir Technologies Inc.; Government; segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Contribution | |||||
| Revenue | |||||
| Segment Profitability Ratio | |||||
| Segment profit margin1 | |||||
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).
1 2024 Calculation
Segment profit margin = 100 × Contribution ÷ Revenue
= 100 × ÷ =
- Revenue Growth
- The Government segment experienced a consistent increase in revenue throughout the observed period. Starting at approximately $610 million in 2020, revenue grew significantly each year, reaching nearly $1.57 billion by the end of 2024. The growth rates suggest strong demand and expanding business within the segment.
- Contribution Trends
- Contribution figures also showed a steady upward trend, rising from about $347 million in 2020 to approximately $948 million in 2024. This indicates an overall improvement in the segment’s profitability and value generation over time, aligning with the increasing revenue base.
- Segment Profit Margin Analysis
- The segment profit margin fluctuated within a relatively narrow range, starting at 56.86% in 2020 and ending at 60.43% in 2024. There was a slight dip to 57.91% in 2022 followed by a recovery, suggesting some variability in cost management or pricing power but generally maintaining a strong margin above 56% throughout.
- Overall Insights
- The data reflects a healthy and growing Government segment, characterized by robust revenue gains and stable, high profit margins. The steady increases in contribution alongside revenue growth demonstrate effective control over operating costs and successful scaling of operations. The segment’s financial performance suggests it remains a key driver of overall profitability.
Segment Profit Margin: Commercial
Palantir Technologies Inc.; Commercial; segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Contribution | |||||
| Revenue | |||||
| Segment Profitability Ratio | |||||
| Segment profit margin1 | |||||
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).
1 2024 Calculation
Segment profit margin = 100 × Contribution ÷ Revenue
= 100 × ÷ =
- Revenue Trend
- Revenue has demonstrated a consistent upward trajectory over the five-year period, increasing from $482,475 thousand in 2020 to $1,295,902 thousand in 2024. This reflects strong growth, with the revenue nearly tripling in size within the timeframe.
- Contribution Trend
- Contribution growth follows a similar upward pattern, rising from $247,320 thousand in 2020 to $771,508 thousand in 2024. The steady increase each year indicates enhanced operational performance and increasing value generation within the segment.
- Segment Profit Margin Analysis
- The segment profit margin shows some variability but generally exhibits an improving trend. Starting at 51.26% in 2020, it peaked at 55.47% in 2021, dipped to 49.69% in 2022, then recovered, reaching 59.53% in 2024. The margin increase towards the end of the period suggests improving cost management or higher profitability on sales.
- Summary Insights
- The segment shows robust revenue and contribution growth, indicative of expanding market presence or improved sales effectiveness. The fluctuating but ultimately increasing profit margin points to dynamic management of operating costs or pricing strategies. Overall, the data reflects strong financial health and improving operational efficiency within the Commercial segment over the analyzed period.
Revenue
Palantir Technologies Inc., revenue by reportable segment
US$ in thousands
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Government | |||||
| Commercial | |||||
| Total |
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).
- Revenue Growth Overview
- The reportable segment revenue demonstrates consistent growth across all categories from 2020 to 2024. Total revenue increased from approximately $1.09 billion in 2020 to $2.87 billion in 2024, reflecting a significant upward trajectory over the five-year period.
- Government Segment Revenue Trends
- The government segment revenue shows a steady increase year-over-year, growing from about $610 million in 2020 to nearly $1.57 billion in 2024. This represents a compounded annual growth rate that highlights the segment's expanding contribution to overall revenues. The growth pace appears to accelerate slightly after 2022.
- Commercial Segment Revenue Trends
- Commercial revenue also registers strong growth, increasing from approximately $482 million in 2020 to nearly $1.30 billion in 2024. The segment exhibits a consistent rise each year, with a notable increase in annual revenue increments observed particularly after 2021.
- Segment Proportion and Development
- While both segments contribute significantly to total revenue, the government segment consistently holds a larger share throughout the years analyzed. However, the commercial segment is growing at a comparable rate, suggesting balanced expansion across customer bases. This dual growth may indicate a diversified and resilient revenue structure.
- Summary of Financial Health
- The increasing trend in revenues across both government and commercial segments reflects positive business momentum. The consistent upward movement signals an expanding market footprint and potentially successful strategic initiatives aimed at broadening the customer base and enhancing sales performance.
Contribution
Palantir Technologies Inc., contribution by reportable segment
US$ in thousands
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Government | |||||
| Commercial | |||||
| Total |
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).
The data reveals a consistent upward trend in the segment contributions of the company over the five-year period ending December 31, 2024. Both the Government and Commercial segments have shown substantial growth in reported revenues, contributing to an overall increase in total revenue.
- Government Segment
- The Government segment revenue increased steadily each year, starting at approximately $346.9 million in 2020 and rising to about $948.4 million in 2024. This represents a significant growth of about 173% over the five years. The year-over-year growth appears consistent, with the largest increase observed between 2023 and 2024.
- Commercial Segment
- The Commercial segment similarly exhibited strong growth, from approximately $247.3 million in 2020 to around $771.5 million in 2024. This growth corresponds to an increase of approximately 212% over the same period, outpacing the Government segment in relative terms. The Commercial segment also showed consistently increasing revenues annually, with notable acceleration in the later years, particularly from 2023 to 2024.
- Total Revenue
- The combined total revenue from both segments reflected the aggregate growth trends, rising from roughly $594.3 million in 2020 to nearly $1.72 billion in 2024. This growth amounts to an approximate 189% increase over the period. The total revenue growth pattern is primarily driven by both segments, with the Commercial segment showing a slightly faster growth rate, thereby increasing its share within the total revenue mix over time.
Overall, the data indicates a robust expansion across both key reportable segments, with the Commercial segment growing at a somewhat faster pace relative to the Government segment. This suggests diversification in revenue sources and an increasing commercial market presence alongside sustained government engagements.