国防军工行业：Palantir 24Q4收入较快增长，关注AI在国防领域应用潜力

Investment Rating - The industry investment rating is "Buy" [2] Core Insights - Palantir's Q4 2024 revenue grew rapidly, reaching $828 million, a year-on-year increase of 36% and a quarter-on-quarter increase of 14%. The net profit for the quarter was $79 million, a decrease of 15% year-on-year. For the entire fiscal year 2024, revenue reached $2.866 billion, up 29% year-on-year, with a net profit of $462 million, a significant increase of 120% [7] - The guidance for fiscal year 2025 is positive, with revenue expected to be between $3.741 billion and $3.757 billion, representing a year-on-year growth of approximately 31%. The commercial sector is projected to exceed $1.079 billion, with at least a 54% increase year-on-year [7] - The report emphasizes the potential applications of AI in the defense sector, particularly in areas such as unmanned equipment, intelligent weapons, battlefield situational awareness, electronic warfare, and simulation training [7] Summary by Sections Financial Performance - In Q4 2024, Palantir's sales to U.S. government users increased by 45% year-on-year, reaching $343 million, with total annual sales of $1.2 billion, a 30% increase year-on-year. The number of customers grew by 43% year-on-year and 13% quarter-on-quarter [7] - Contracts with U.S. military branches were expanded, including a $36.8 million contract with USSOCOM and a $619 million contract with the U.S. Army [7] Investment Opportunities - The report suggests focusing on potential investment opportunities in the defense sector driven by the global AI technology development wave, particularly in unmanned systems and smart weapons [7] - Specific companies to watch include 中科星图, 国睿科技, and 星图测控, among others, in the battlefield situational awareness and decision-making space [7] Valuation and Financial Analysis - The report includes a valuation table for key companies in the defense sector, providing metrics such as EPS, PE ratios, and ROE for companies like 中科星图, 中航沈飞, and 紫光国微 [8]