2024-04-04 05:03:26 ET
Summary
- Today, we will start with a brief contemplation of the Palantir business and its experience over the last 20 years.
- We will then parse the growth rates of the various segments of the business.
- Then, we will conclude with a consideration of Palantir's valuation and its expected future returns.
- While I am totally content with the performance of the business, I do not find Palantir's valuation particularly attractive at these levels. That said, I do believe the market's treatment of its stock and corresponding valuation expansion has been justified.
- The business is doing incredibly well atop solid free cash flow, GAAP net income, and a massive $3.7B cash hoard and no long-term debt.
Enjoy This Little Ride
Our expansion and growth, as both a company and as an organization, have never been greater.
Alex Karp, CEO, Q4 2023 Palantir Shareholder Letter
Throughout my coverage and ownership of Palantir ( PLTR ), I've always viewed the business through the philosophy of its founding , its core ideology underpinning its creation. When I introduced the business to my readers, I focused on the core, underlying principles with which the founding team, including Peter Thiel and Alex Karp, both of whom still lead the business today, created the company....
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For further details see:
Palantir: Defying The Skeptics