Palantir Technologies

The balance sheet is very strong. At year-end 2024 Palantir held about $2.12B in cash and equivalents, invested conservatively, with no debt at all. Cash flow is robust: Palantir generated $1.15B of operating cash in 2024, and capital expenditures are minimal.

Even after heavy investments in R&D and marketing, the company ended 2024 unlevered and with growing free cash. This strong liquidity and zero leverage give Palantir resilience against downturns, so we score its financial condition high.