Meta Platforms (META) Financials

$610.26 0.00 (0.00%)

Closing price 05/22/2026 04:00 PM Eastern

Extended Trading

$607.36 -2.90 (-0.48%)

As of 05/22/2026 08:00 PM Eastern

Annual Income Statements for Meta Platforms

This table shows Meta Platforms' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	3,669	10,188	15,920	22,111	18,485	29,146	39,370	23,200	39,098	62,360	60,458
Consolidated Net Income / (Loss)	3,688	10,217	15,934	22,112	18,485	29,146	39,370	23,200	39,098	62,360	60,458
Net Income / (Loss) Continuing Operations	3,688	10,217	15,934	22,112	18,485	29,146	39,370	23,200	39,098	62,360	60,458
Total Pre-Tax Income	6,194	12,518	20,594	25,361	24,812	33,180	47,284	28,819	47,428	70,663	85,932
Total Operating Income	6,225	12,427	20,203	24,913	23,986	32,671	46,753	28,944	46,751	69,380	83,276
Total Gross Profit	15,061	23,849	35,199	46,483	57,927	69,273	95,280	91,360	108,943	134,340	164,791
Total Revenue	17,928	27,638	40,653	55,838	70,697	85,965	117,929	116,609	134,902	164,501	200,966
Operating Revenue	17,928	27,638	40,653	55,838	70,697	85,965	117,929	116,609	134,902	164,501	200,966
Total Cost of Revenue	2,867	3,789	5,454	9,355	12,770	16,692	22,649	25,249	25,959	30,161	36,175
Operating Cost of Revenue	2,867	3,789	5,454	9,355	12,770	16,692	22,649	25,249	25,959	30,161	36,175
Total Operating Expenses	8,836	11,422	14,996	21,570	33,941	36,602	48,527	62,416	62,192	64,960	81,515
Selling, General & Admin Expense	1,295	1,731	2,517	3,451	10,465	6,564	9,829	11,816	11,408	9,740	12,152
Marketing Expense	2,725	3,772	4,725	7,846	9,876	11,591	14,043	15,262	12,301	11,347	11,991
Research & Development Expense	4,816	5,919	7,754	10,273	13,600	18,447	24,655	35,338	38,483	43,873	57,372
Total Other Income / (Expense), net	-31	91	391	448	826	509	531	-125	677	1,283	2,656
Other Income / (Expense), net	-31	91	391	448	826	509	531	-125	677	1,283	2,656
Income Tax Expense	2,506	2,301	4,660	3,249	6,327	4,034	7,914	5,619	8,330	8,303	25,474
Basic Earnings per Share	$1.31	$3.56	$5.49	$7.65	$6.48	$10.22	$13.99	$8.63	$15.19	$24.61	$23.98
Weighted Average Basic Shares Outstanding	2.80B	2.86B	2.90B	2.89B	2.85B	2.85B	2.82B	2.69B	2.57B	2.53B	2.52B
Diluted Earnings per Share	$1.29	$3.49	$5.39	$7.57	$6.43	$10.09	$13.77	$8.59	$14.87	$23.86	$23.49
Weighted Average Diluted Shares Outstanding	2.85B	2.93B	2.96B	2.92B	2.88B	2.89B	2.86B	2.70B	2.63B	2.61B	2.57B
Weighted Average Basic & Diluted Shares Outstanding	2.80B	2.86B	2.90B	2.85B	2.85B	2.85B	2.72B	2.59B	2.55B	2.53B	2.53B
Cash Dividends to Common per Share	-	-	-	-	-	-	-	-	-	$2.00	$2.10

This table shows Meta Platforms' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	11,583	14,018	12,369	13,465	15,688	20,838	16,644	18,337	2,709	22,768	26,773
Consolidated Net Income / (Loss)	11,583	14,018	12,369	13,465	15,688	20,838	16,644	18,337	2,709	22,768	26,773
Net Income / (Loss) Continuing Operations	11,583	14,018	12,369	13,465	15,688	20,838	16,644	18,337	2,709	22,768	26,773
Total Pre-Tax Income	14,020	16,808	14,183	15,106	17,822	23,552	18,382	20,534	21,663	25,353	21,752
Total Operating Income	13,748	16,384	13,818	14,847	17,350	23,365	17,555	20,441	20,535	24,745	22,872
Total Gross Profit	27,936	32,416	29,815	31,763	33,214	39,548	34,742	39,025	42,036	48,988	46,093
Total Revenue	34,146	40,112	36,455	39,071	40,589	48,386	42,314	47,516	51,242	59,894	56,311
Operating Revenue	34,146	40,112	36,455	39,071	40,589	48,386	42,314	47,516	51,242	59,894	56,311
Total Cost of Revenue	6,210	7,696	6,640	7,308	7,375	8,838	7,572	8,491	9,206	10,906	10,218
Operating Cost of Revenue	6,210	7,696	6,640	7,308	7,375	8,838	7,572	8,491	9,206	10,906	10,218
Total Operating Expenses	14,188	16,032	15,997	16,916	15,864	16,183	17,187	18,584	21,501	24,243	23,221
Selling, General & Admin Expense	2,070	2,289	3,455	3,658	1,865	762	2,280	2,663	3,512	3,697	2,614
Marketing Expense	2,877	3,226	2,564	2,721	2,822	3,240	2,757	2,979	2,845	3,410	2,908
Research & Development Expense	9,241	10,517	9,978	10,537	11,177	12,181	12,150	12,942	15,144	17,136	17,699
Total Other Income / (Expense), net	272	424	365	259	472	187	827	93	1,128	608	-1,120
Other Income / (Expense), net	272	424	365	259	472	187	827	93	1,128	608	-1,120
Income Tax Expense	2,437	2,790	1,814	1,641	2,134	2,714	1,738	2,197	18,954	2,585	-5,021
Basic Earnings per Share	$4.50	$5.45	$4.86	$5.31	$6.20	$8.24	$6.59	$7.28	$1.08	$9.03	$10.57
Weighted Average Basic Shares Outstanding	2.58B	2.57B	2.55B	2.53B	2.53B	2.53B	2.53B	2.52B	2.52B	2.52B	2.53B
Diluted Earnings per Share	$4.39	$5.30	$4.71	$5.16	$6.03	$7.96	$6.43	$7.14	$1.05	$8.87	$10.44
Weighted Average Diluted Shares Outstanding	2.64B	2.63B	2.63B	2.61B	2.60B	2.61B	2.59B	2.57B	2.57B	2.57B	2.56B
Weighted Average Basic & Diluted Shares Outstanding	2.57B	2.55B	2.54B	2.53B	2.52B	2.53B	2.51B	2.51B	2.52B	2.53B	2.54B
Cash Dividends to Common per Share	-	-	$0.50	$0.50	-	-	$0.53	$0.53	-	-	$0.53

This table details how cash moves in and out of Meta Platforms' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	592	3,943	-905	2,099	9,155	-1,325	-1,089	-1,269	27,231	2,611	-6,338
Net Cash From Operating Activities	10,320	16,108	24,216	29,274	36,314	38,747	57,683	50,475	71,113	91,328	115,800
Net Cash From Continuing Operating Activities	10,320	16,108	24,216	29,274	36,314	38,747	57,683	50,475	71,113	91,381	115,800
Net Income / (Loss) Continuing Operations	3,688	10,217	15,934	22,112	18,485	29,146	39,370	23,200	39,098	62,360	60,458
Consolidated Net Income / (Loss)	3,688	10,217	15,934	22,112	18,485	29,146	39,370	23,200	39,098	62,360	60,458
Depreciation Expense	1,945	2,342	3,025	4,315	5,741	6,862	7,967	8,686	11,178	15,498	18,616
Non-Cash Adjustments To Reconcile Net Income	4,698	2,791	3,370	4,088	4,875	5,462	9,646	16,192	16,870	17,213	18,873
Changes in Operating Assets and Liabilities, net	-11	758	1,887	-1,241	7,213	-2,723	700	2,397	3,967	-3,690	17,853
Net Cash From Investing Activities	-9,434	-11,792	-20,118	-11,603	-19,864	-30,059	-7,570	-28,970	-24,495	-47,150	-102,003
Net Cash From Continuing Investing Activities	-9,434	-11,792	-20,118	-11,603	-19,864	-30,059	-7,570	-28,970	-24,495	-47,150	-102,003
Purchase of Property, Plant & Equipment	-2,523	-4,491	-6,733	-13,915	-15,102	-15,163	-18,690	-31,186	-27,045	-37,256	-69,691
Acquisitions	-313	-123	-122	-137	-508	-388	-851	-1,312	-629	-270	-4,231
Purchase of Investments	-15,938	-22,341	-25,682	-14,681	-23,971	-40,291	-30,407	-9,626	-2,983	-25,553	-55,259
Sale and/or Maturity of Investments	9,238	15,155	12,432	17,130	19,717	25,771	42,586	13,158	6,184	15,789	26,874
Other Investing Activities, net	102	8.00	-13	0.00	0.00	-36	-331	-4.00	-22	140	304
Net Cash From Financing Activities	-139	-310	-5,235	-15,572	-7,299	-10,292	-50,728	-22,136	-19,500	-40,781	-20,370
Net Cash From Continuing Financing Activities	-139	-310	-5,235	-15,572	-7,299	-10,292	-50,728	-22,136	-19,500	-40,781	-20,370
Repayment of Debt	0.00	8.00	-13	-	-223	148	1.00	344	-111	-277	2,220
Repurchase of Common Equity	0.00	0.00	-1,976	-12,879	-4,202	-6,272	-44,537	-27,956	-19,774	-30,125	-26,248
Payment of Dividends	-	-	-	-	-	-	-	0.00	0.00	-5,072	-5,324
Issuance of Debt	-	-	-	515	15	0.00	0.00	9,921	8,455	10,432	29,906
Other Financing Activities, net	-139	-318	-3,246	-3,208	-2,889	-4,168	-6,192	-4,445	-8,070	-15,739	-20,924
Effect of Exchange Rate Changes	-155	-63	232	-	-	279	-474	-638	113	-786	235
Cash Interest Paid	10	11	-	-	-	-	0.00	0.00	448	486	696
Cash Income Taxes Paid	270	1,210	2,117	3,762	5,182	4,229	8,525	6,407	6,607	10,554	7,578

This table details how cash moves in and out of Meta Platforms' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	8,096	4,927	-9,543	-258	12,101	311	-15,367	-16,243	-1,887	27,159	-7,998
Net Cash From Operating Activities	20,402	19,404	19,246	19,370	24,724	27,988	24,026	25,561	29,999	36,214	32,226
Net Cash From Continuing Operating Activities	20,402	19,404	19,246	19,370	24,724	27,988	24,026	25,561	29,999	36,214	32,226
Net Income / (Loss) Continuing Operations	11,583	14,017	12,369	13,465	15,688	20,838	16,644	18,337	2,709	22,768	26,773
Consolidated Net Income / (Loss)	11,583	14,017	12,369	13,465	15,688	20,838	16,644	18,337	2,709	22,768	26,773
Depreciation Expense	2,859	3,172	3,374	3,637	4,027	4,460	3,900	4,342	4,963	5,411	5,999
Non-Cash Adjustments To Reconcile Net Income	6,955	3,355	3,280	3,009	6,345	4,526	2,923	5,009	4,611	5,337	7,090
Changes in Operating Assets and Liabilities, net	-995	-1,140	223	-741	-1,336	-1,836	559	-2,127	17,716	2,698	-7,636
Net Cash From Investing Activities	-6,077	-6,472	-8,734	-8,298	-8,620	-21,498	-20,010	-25,958	-21,848	-34,187	-33,678
Net Cash From Continuing Investing Activities	-6,077	-6,472	-8,734	-8,298	-8,620	-21,498	-20,010	-25,958	-21,848	-34,187	-33,678
Purchase of Property, Plant & Equipment	-6,496	-7,592	-6,400	-8,173	-8,258	-14,425	-12,941	-16,538	-18,829	-21,383	-18,997
Acquisitions	-38	-64	-	-57	-132	-9.00	-1.00	-	-753	-3,416	-372
Purchase of Investments	-1,007	-1,172	-6,887	-3,289	-4,468	-10,898	-11,863	-22,960	-5,886	-14,650	-33,522
Sale and/or Maturity of Investments	1,474	2,359	4,625	3,233	4,114	3,817	4,784	14,273	4,704	3,113	19,176
Other Investing Activities, net	-10	-3.00	-72	-12	124	17	11	-671	-1,084	2,149	37
Net Cash From Financing Activities	-5,875	-8,401	-19,767	-11,178	-4,371	-5,465	-19,495	-15,977	-10,047	25,149	-6,553
Net Cash From Continuing Financing Activities	-5,875	-8,401	-19,767	-11,178	-4,371	-5,465	-19,495	-15,977	-10,047	25,149	-6,553
Repayment of Debt	49	71	-9.00	-106	-235	73	222	101	290	1,607	59
Repurchase of Common Equity	-3,569	-5,942	-15,008	-6,299	-8,818	-	-12,754	-10,167	-3,327	-	0.00
Payment of Dividends	-	-	-1,273	-1,266	-1,263	-1,270	-1,329	-1,327	-1,330	-1,338	-1,346
Other Financing Activities, net	-2,355	-2,530	-3,477	-3,507	-4,487	-4,268	-5,634	-4,584	-5,680	-5,026	-5,266
Effect of Exchange Rate Changes	-354	396	-288	-152	368	-714	112	131	9.00	-17	7.00
Cash Interest Paid	120	146	121	124	111	130	352	126	125	93	284
Cash Income Taxes Paid	509	4,591	630	5,929	1,767	2,228	448	5,096	749	1,285	541

This table presents Meta Platforms' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	49,407	64,961	84,524	97,334	133,376	159,316	165,987	185,727	229,623	276,054	366,021
Total Current Assets	21,652	34,401	48,563	50,480	66,225	75,670	66,666	59,549	85,365	100,045	108,722
Cash & Equivalents	4,907	8,903	8,079	10,019	19,079	17,576	16,601	14,681	41,862	43,889	35,873
Short-Term Investments	13,527	20,546	33,632	31,095	35,776	44,378	31,397	26,057	23,541	33,926	45,719
Accounts Receivable	2,559	3,993	5,832	7,587	9,518	11,335	14,039	13,466	16,169	16,994	19,769
Prepaid Expenses	659	959	1,020	1,779	1,852	2,381	4,629	5,345	3,793	5,236	7,361
Plant, Property, & Equipment, net	5,687	8,591	13,721	24,683	35,323	45,633	57,809	79,518	96,587	121,346	176,400
Total Noncurrent Assets	22,068	21,969	22,240	22,171	31,828	38,013	41,512	46,660	47,671	54,663	80,899
Long-Term Investments	-	-	-	-	86	6,234	6,775	6,201	6,141	6,070	27,524
Goodwill	18,026	18,122	18,221	18,301	18,715	19,050	19,197	20,306	20,654	20,654	24,534
Other Noncurrent Operating Assets	796	1,312	2,135	2,576	12,133	12,106	14,906	19,256	20,876	27,939	28,841
Total Liabilities & Shareholders' Equity	49,407	64,961	84,524	97,334	133,376	159,316	165,987	185,727	229,623	276,054	366,021
Total Liabilities	5,189	5,767	10,177	13,207	32,322	31,026	41,108	60,014	76,455	93,417	148,778
Total Current Liabilities	1,925	2,875	3,760	7,017	15,053	14,981	21,135	27,026	31,960	33,596	41,836
Short-Term Debt	7.00	-	-	0.00	800	1,023	1,127	1,367	1,623	1,942	2,213
Accounts Payable	413	582	770	1,361	2,249	2,424	5,135	6,107	4,849	7,687	8,894
Accrued Expenses	1,449	2,203	2,892	5,509	11,735	11,152	14,873	19,552	25,488	23,967	30,729
Total Noncurrent Liabilities	3,264	2,892	6,417	6,190	17,269	16,045	19,973	32,988	44,495	59,821	106,942
Long-Term Debt	-	-	-	-	-	-	0.00	9,923	18,385	28,826	58,744
Capital Lease Obligations	107	-	-	0.00	9,524	9,631	12,746	15,301	17,226	18,292	22,940
Noncurrent Deferred Revenue	-	-	-	-	-	-	-	-	7,514	9,987	21,005
Other Noncurrent Operating Liabilities	3,157	2,892	6,417	6,190	7,745	6,414	7,227	7,764	1,370	2,716	4,253
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	44,218	59,194	74,347	84,127	101,054	128,290	124,879	125,713	153,168	182,637	217,243
Total Preferred & Common Equity	44,218	59,194	74,347	84,127	101,054	128,290	124,879	125,713	153,168	182,637	217,243
Total Common Equity	44,218	59,194	74,347	84,127	101,054	128,290	124,879	125,713	153,168	182,637	217,243
Common Stock	34,886	38,227	40,584	42,906	45,851	50,018	55,811	64,444	73,253	83,228	95,793
Retained Earnings	9,787	21,670	33,990	41,981	55,692	77,345	69,761	64,799	82,070	102,506	121,179
Accumulated Other Comprehensive Income / (Loss)	-455	-703	-227	-760	-489	927	-693	-3,530	-2,155	-3,097	271

This table presents Meta Platforms' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	206,688	216,274	229,623	222,844	230,238	256,408	276,054	280,213	294,744	303,844	395,250
Total Current Assets	69,560	78,378	85,365	75,330	76,431	91,067	100,045	90,227	73,613	73,118	109,765
Cash & Equivalents	28,785	36,890	41,862	32,307	32,045	43,852	43,889	28,750	12,005	10,187	23,426
Short-Term Investments	24,661	24,233	23,541	25,813	26,035	27,048	33,926	41,480	35,066	34,261	57,754
Accounts Receivable	12,511	12,944	16,169	13,430	14,505	14,700	16,994	14,514	16,561	17,297	17,470
Prepaid Expenses	3,603	4,311	3,793	3,780	3,846	5,467	5,236	5,483	9,981	11,373	11,115
Plant, Property, & Equipment, net	87,949	91,772	96,587	98,908	102,959	112,162	121,346	133,567	147,039	160,270	194,776
Total Noncurrent Assets	49,179	46,124	47,671	48,606	50,848	53,179	54,663	56,419	74,092	70,456	90,709
Long-Term Investments	6,208	6,142	6,141	6,218	6,207	6,071	6,070	6,168	21,988	25,074	28,410
Goodwill	20,659	20,668	20,654	20,654	20,654	20,654	20,654	20,654	20,654	21,158	24,748
Other Noncurrent Operating Assets	21,456	18,501	20,876	21,734	23,987	26,454	27,939	29,597	31,450	24,224	37,551
Total Liabilities & Shareholders' Equity	206,688	216,274	229,623	222,844	230,238	256,408	276,054	280,213	294,744	303,844	395,250
Total Liabilities	72,655	73,401	76,455	73,315	73,475	91,879	93,417	95,184	99,674	109,778	151,569
Total Current Liabilities	29,921	30,531	31,960	28,101	27,004	33,330	33,596	33,890	37,305	36,958	46,753
Short-Term Debt	1,396	1,460	1,623	1,676	1,917	2,016	1,942	1,976	1,977	2,113	2,414
Accounts Payable	3,865	5,142	4,849	3,785	3,173	7,656	7,687	8,512	10,271	7,798	13,326
Accrued Expenses	24,660	23,929	25,488	22,640	21,914	23,658	23,967	23,402	25,057	27,047	31,013
Total Noncurrent Liabilities	42,734	42,870	44,495	45,214	46,471	58,549	59,821	61,294	62,369	72,820	104,816
Long-Term Debt	18,382	18,383	18,385	18,387	18,389	28,823	28,826	28,829	28,832	28,834	58,748
Capital Lease Obligations	16,440	16,374	17,226	17,570	17,685	18,208	18,292	18,714	18,751	20,113	25,607
Noncurrent Deferred Revenue	-	-	7,514	7,795	7,897	9,171	9,987	10,991	12,046	11,738	16,849
Other Noncurrent Operating Liabilities	7,912	8,113	1,370	1,462	2,500	2,347	2,716	2,760	2,740	12,135	3,612
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	134,033	142,873	153,168	149,529	156,763	164,529	182,637	185,029	195,070	194,066	243,681
Total Preferred & Common Equity	134,033	142,873	153,168	149,529	156,763	164,529	182,637	185,029	195,070	194,066	243,681
Total Common Equity	134,033	142,873	153,168	149,529	156,763	164,529	182,637	185,029	195,070	194,066	243,681
Common Stock	69,159	71,224	73,253	75,391	78,270	80,749	83,228	85,568	88,496	92,330	99,337
Retained Earnings	67,980	75,205	82,070	76,793	81,188	84,972	102,506	101,326	106,345	101,577	144,647
Accumulated Other Comprehensive Income / (Loss)	-3,106	-3,556	-2,155	-2,655	-2,695	-1,192	-3,097	-1,865	229	159	-303

This table displays calculated financial ratios and metrics derived from Meta Platforms' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	43.82%	54.16%	47.09%	37.35%	26.61%	21.60%	37.18%	-1.12%	15.69%	21.94%	22.17%
EBITDA Growth	32.28%	82.58%	58.94%	25.64%	2.96%	31.06%	37.98%	-32.12%	56.26%	47.02%	21.34%
EBIT Growth	26.15%	102.10%	64.52%	23.15%	-2.16%	33.73%	42.51%	-39.05%	64.57%	48.99%	21.61%
NOPAT Growth	23.95%	173.65%	54.12%	38.96%	-17.73%	60.60%	35.64%	-40.14%	65.40%	58.87%	-4.31%
Net Income Growth	25.44%	177.03%	55.96%	38.77%	-16.40%	57.67%	35.08%	-41.07%	68.53%	59.50%	-3.05%
EPS Growth	17.27%	170.54%	54.44%	40.45%	-15.06%	56.92%	36.47%	-37.62%	73.11%	60.46%	-1.55%
Operating Cash Flow Growth	40.87%	56.09%	50.34%	20.89%	24.05%	6.70%	48.87%	-12.50%	40.89%	28.43%	26.80%
Free Cash Flow Firm Growth	116.66%	114.25%	102.37%	-10.96%	-60.81%	223.46%	78.76%	-92.55%	1,208.19%	28.85%	-55.45%
Invested Capital Growth	3.06%	14.85%	9.72%	31.80%	31.21%	25.37%	18.69%	25.47%	12.81%	24.36%	29.91%
Revenue Q/Q Growth	12.49%	12.03%	11.41%	7.60%	6.26%	8.85%	4.99%	-1.28%	6.26%	5.30%	6.07%
EBITDA Q/Q Growth	23.60%	15.99%	15.49%	3.06%	4.95%	11.97%	-0.36%	-14.17%	24.29%	10.28%	2.70%
EBIT Q/Q Growth	30.40%	18.76%	16.57%	2.05%	5.07%	13.27%	-0.74%	-18.53%	28.99%	10.55%	2.14%
NOPAT Q/Q Growth	29.78%	24.98%	4.08%	13.24%	2.06%	15.68%	-1.99%	-18.63%	29.63%	12.93%	2.84%
Net Income Q/Q Growth	30.41%	24.46%	4.60%	13.39%	2.60%	15.32%	-2.32%	-19.53%	31.50%	12.28%	3.30%
EPS Q/Q Growth	30.30%	23.32%	4.46%	14.18%	2.72%	15.05%	-1.64%	-17.88%	31.13%	12.55%	4.03%
Operating Cash Flow Q/Q Growth	11.88%	2.43%	12.76%	-0.18%	4.20%	14.67%	7.58%	-6.65%	7.39%	10.37%	7.65%
Free Cash Flow Firm Q/Q Growth	118.85%	7.57%	26.46%	-12.50%	-23.12%	57.88%	2.35%	-76.40%	27.82%	9.63%	-20.01%
Invested Capital Q/Q Growth	0.72%	6.33%	-0.86%	9.91%	10.96%	6.30%	3.46%	3.61%	6.29%	8.20%	9.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	84.01%	86.29%	86.58%	83.25%	81.94%	80.58%	80.79%	78.35%	80.76%	81.67%	82.00%
EBITDA Margin	45.40%	53.77%	58.10%	53.15%	43.22%	46.58%	46.85%	32.16%	43.44%	52.38%	52.02%
Operating Margin	34.72%	44.96%	49.70%	44.62%	33.93%	38.01%	39.65%	24.82%	34.66%	42.18%	41.44%
EBIT Margin	34.55%	45.29%	50.66%	45.42%	35.10%	38.60%	40.10%	24.71%	35.16%	42.96%	42.76%
Profit (Net Income) Margin	20.57%	36.97%	39.20%	39.60%	26.15%	33.90%	33.38%	19.90%	28.98%	37.91%	30.08%
Tax Burden Percent	59.54%	81.62%	77.37%	87.19%	74.50%	87.84%	83.26%	80.50%	82.44%	88.25%	70.36%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	40.46%	18.38%	22.63%	12.81%	25.50%	12.16%	16.74%	19.50%	17.56%	11.75%	29.64%
Return on Invested Capital (ROIC)	14.53%	36.46%	50.12%	57.43%	35.94%	45.13%	50.32%	24.61%	34.38%	45.92%	34.48%
ROIC Less NNEP Spread (ROIC-NNEP)	14.65%	36.15%	49.27%	56.48%	34.50%	44.25%	49.42%	24.94%	32.33%	42.64%	28.26%
Return on Net Nonoperating Assets (RNNOA)	-5.34%	-16.70%	-26.25%	-29.52%	-15.97%	-19.71%	-19.21%	-6.10%	-6.34%	-8.78%	-4.24%
Return on Equity (ROE)	9.18%	19.76%	23.86%	27.91%	19.96%	25.42%	31.10%	18.52%	28.04%	37.14%	30.24%
Cash Return on Invested Capital (CROIC)	11.52%	22.63%	40.85%	29.99%	8.94%	22.61%	33.22%	2.02%	22.34%	24.21%	8.46%
Operating Return on Assets (OROA)	13.86%	21.89%	27.55%	27.89%	21.51%	22.67%	29.07%	16.39%	22.84%	27.95%	26.77%
Return on Assets (ROA)	8.25%	17.87%	21.32%	24.32%	16.02%	19.92%	24.21%	13.19%	18.83%	24.66%	18.83%
Return on Common Equity (ROCE)	9.18%	19.76%	23.86%	27.91%	19.96%	25.42%	31.10%	18.52%	28.04%	37.14%	30.24%
Return on Equity Simple (ROE_SIMPLE)	8.34%	17.26%	21.43%	26.28%	18.29%	22.72%	31.53%	18.45%	25.53%	34.14%	0.00%
Net Operating Profit after Tax (NOPAT)	3,706	10,143	15,631	21,721	17,870	28,699	38,928	23,301	38,540	61,228	58,589
NOPAT Margin	20.67%	36.70%	38.45%	38.90%	25.28%	33.38%	33.01%	19.98%	28.57%	37.22%	29.15%
Net Nonoperating Expense Percent (NNEP)	-0.13%	0.31%	0.85%	0.94%	1.44%	0.88%	0.90%	-0.33%	2.04%	3.28%	6.22%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	15.30%	20.24%	26.43%	19.46%
Cost of Revenue to Revenue	15.99%	13.71%	13.42%	16.75%	18.06%	19.42%	19.21%	21.65%	19.24%	18.33%	18.00%
SG&A Expenses to Revenue	7.22%	6.26%	6.19%	6.18%	14.80%	7.64%	8.33%	10.13%	8.46%	5.92%	6.05%
R&D to Revenue	26.86%	21.42%	19.07%	18.40%	19.24%	21.46%	20.91%	30.30%	28.53%	26.67%	28.55%
Operating Expenses to Revenue	49.29%	41.33%	36.89%	38.63%	48.01%	42.58%	41.15%	53.53%	46.10%	39.49%	40.56%
Earnings before Interest and Taxes (EBIT)	6,194	12,518	20,594	25,361	24,812	33,180	47,284	28,819	47,428	70,663	85,932
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	8,139	14,860	23,619	29,676	30,553	40,042	55,251	37,505	58,606	86,161	104,548
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.68	5.59	6.88	4.47	5.78	6.05	7.48	2.53	5.92	8.09	7.66
Price to Tangible Book Value (P/TBV)	12.87	8.59	9.43	5.83	7.17	7.15	8.89	3.04	6.84	9.13	8.63
Price to Revenue (P/Rev)	16.48	11.97	12.59	6.73	8.26	9.03	7.92	2.73	6.72	8.99	8.28
Price to Earnings (P/E)	80.50	32.48	32.14	17.00	31.60	26.64	23.72	13.70	23.18	23.70	27.52
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.34%	0.32%
Earnings Yield	1.24%	3.08%	3.11%	5.88%	3.16%	3.75%	4.22%	7.30%	4.31%	4.22%	3.63%
Enterprise Value to Invested Capital (EV/IC)	10.70	10.14	14.40	7.78	9.56	10.16	10.63	2.82	7.34	9.76	8.53
Enterprise Value to Revenue (EV/Rev)	15.45	10.91	11.56	6.00	7.63	8.36	7.57	2.55	6.46	8.77	8.15
Enterprise Value to EBITDA (EV/EBITDA)	34.04	20.29	19.90	11.28	17.66	17.95	16.16	7.93	14.88	16.75	15.67
Enterprise Value to EBIT (EV/EBIT)	44.73	24.08	22.82	13.20	21.74	21.67	18.88	10.32	18.38	20.43	19.07
Enterprise Value to NOPAT (EV/NOPAT)	74.75	29.72	30.07	15.42	30.19	25.05	22.94	12.77	22.62	23.57	27.97
Enterprise Value to Operating Cash Flow (EV/OCF)	26.85	18.72	19.41	11.44	14.86	18.55	15.48	5.89	12.26	15.80	14.15
Enterprise Value to Free Cash Flow (EV/FCFF)	94.28	47.88	36.89	29.52	121.36	49.99	34.73	155.40	34.81	44.72	113.97
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.10	0.08	0.11	0.21	0.24	0.27	0.39
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.09	0.08	0.10	0.20	0.23	0.26	0.38
Financial Leverage	-0.36	-0.46	-0.53	-0.52	-0.46	-0.45	-0.39	-0.24	-0.20	-0.21	-0.15
Leverage Ratio	1.11	1.11	1.12	1.15	1.25	1.28	1.28	1.40	1.49	1.51	1.61
Compound Leverage Factor	1.11	1.11	1.12	1.15	1.25	1.28	1.28	1.40	1.49	1.51	1.61
Debt to Total Capital	0.26%	0.00%	0.00%	0.00%	9.27%	7.67%	10.00%	17.46%	19.56%	21.17%	27.86%
Short-Term Debt to Total Capital	0.02%	0.00%	0.00%	0.00%	0.72%	0.74%	0.81%	0.90%	0.85%	0.84%	0.73%
Long-Term Debt to Total Capital	0.24%	0.00%	0.00%	0.00%	8.55%	6.93%	9.19%	16.56%	18.70%	20.34%	27.12%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	99.74%	100.00%	100.00%	100.00%	90.73%	92.33%	90.00%	82.54%	80.44%	78.83%	72.14%
Debt to EBITDA	0.01	0.00	0.00	0.00	0.34	0.27	0.25	0.71	0.64	0.57	0.80
Net Debt to EBITDA	-2.25	0.00	0.00	0.00	-1.46	-1.44	-0.74	-0.54	-0.59	-0.40	-0.24
Long-Term Debt to EBITDA	0.01	0.00	0.00	0.00	0.31	0.24	0.23	0.67	0.61	0.55	0.78
Debt to NOPAT	0.03	0.00	0.00	0.00	0.58	0.37	0.36	1.14	0.97	0.80	1.43
Net Debt to NOPAT	-4.94	0.00	0.00	0.00	-2.50	-2.00	-1.05	-0.87	-0.89	-0.57	-0.43
Long-Term Debt to NOPAT	0.03	0.00	0.00	0.00	0.53	0.34	0.33	1.08	0.92	0.77	1.39
Altman Z-Score	35.69	36.54	32.65	19.65	13.03	17.38	16.20	5.02	9.16	11.74	8.72
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	11.25	11.97	12.92	7.19	4.40	5.05	3.15	2.20	2.67	2.98	2.60
Quick Ratio	10.91	11.63	12.64	6.94	4.28	4.89	2.94	2.01	2.55	2.82	2.42
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,938	6,296	12,740	11,344	4,446	14,380	25,705	1,915	25,047	32,274	14,377
Operating Cash Flow to CapEx	409.04%	358.67%	359.66%	210.38%	240.46%	256.35%	310.67%	161.85%	262.94%	245.14%	166.16%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.40	0.48	0.54	0.61	0.61	0.59	0.73	0.66	0.65	0.65	0.63
Accounts Receivable Turnover	8.46	8.44	8.28	8.32	8.27	8.24	9.30	8.48	9.10	9.92	10.93
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	3.71	3.87	3.64	2.91	2.36	2.12	2.28	1.70	1.53	1.51	1.35
Accounts Payable Turnover	7.25	7.62	8.07	8.78	7.07	7.14	5.99	4.49	4.74	4.81	4.36
Days Sales Outstanding (DSO)	43.13	43.26	44.11	43.86	44.16	44.27	39.27	43.05	40.09	36.79	33.39
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	50.35	47.92	45.24	41.57	51.59	51.09	60.91	81.26	77.02	75.85	83.65
Cash Conversion Cycle (CCC)	-7.22	-4.66	-1.13	2.29	-7.44	-6.82	-21.64	-38.21	-36.93	-39.06	-50.26
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	25,898	29,745	32,636	43,013	56,437	70,756	83,979	105,365	118,858	147,812	192,024
Invested Capital Turnover	0.70	0.99	1.30	1.48	1.42	1.35	1.52	1.23	1.20	1.23	1.18
Increase / (Decrease) in Invested Capital	768	3,847	2,891	10,377	13,424	14,319	13,223	21,386	13,493	28,954	44,212
Enterprise Value (EV)	277,051	301,464	469,996	334,838	539,504	718,910	892,826	297,525	871,857	1,443,288	1,638,556
Market Capitalization	295,371	330,913	511,707	375,952	584,121	776,444	933,726	317,873	906,167	1,478,113	1,663,775
Book Value per Share	$15.64	$20.54	$25.59	$29.27	$35.44	$45.04	$44.89	$47.41	$59.60	$72.35	$86.19
Tangible Book Value per Share	$8.11	$13.37	$18.67	$22.46	$28.56	$38.13	$37.76	$39.41	$51.56	$64.16	$76.46
Total Capital	44,332	59,194	74,347	84,127	111,378	138,944	138,752	152,304	190,402	231,697	301,140
Total Debt	114	0.00	0.00	0.00	10,324	10,654	13,873	26,591	37,234	49,060	83,897
Total Long-Term Debt	107	0.00	0.00	0.00	9,524	9,631	12,746	25,224	35,611	47,118	81,684
Net Debt	-18,320	-29,449	-41,711	-41,114	-44,617	-57,534	-40,900	-20,348	-34,310	-34,825	-25,219
Capital Expenditures (CapEx)	2,523	4,491	6,733	13,915	15,102	15,115	18,567	31,186	27,045	37,256	69,691
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,300	2,077	3,092	2,349	-2,883	-242	-1,340	-6,848	-10,375	-9,424	-12,493
Debt-free Net Working Capital (DFNWC)	19,734	31,526	44,803	43,463	51,972	61,712	46,658	33,890	55,028	68,391	69,099
Net Working Capital (NWC)	19,727	31,526	44,803	43,463	51,172	60,689	45,531	32,523	53,405	66,449	66,886
Net Nonoperating Expense (NNE)	18	-74	-303	-391	-615	-447	-442	101	-558	-1,132	-1,869
Net Nonoperating Obligations (NNO)	-18,320	-29,449	-41,711	-41,114	-44,617	-57,534	-40,900	-20,348	-34,310	-34,825	-25,219
Total Depreciation and Amortization (D&A)	1,945	2,342	3,025	4,315	5,741	6,862	7,967	8,686	11,178	15,498	18,616
Debt-free, Cash-free Net Working Capital to Revenue	7.25%	7.52%	7.61%	4.21%	-4.08%	-0.28%	-1.14%	-5.87%	-7.69%	-5.73%	-6.22%
Debt-free Net Working Capital to Revenue	110.07%	114.07%	110.21%	77.84%	73.51%	71.79%	39.56%	29.06%	40.79%	41.57%	34.38%
Net Working Capital to Revenue	110.03%	114.07%	110.21%	77.84%	72.38%	70.60%	38.61%	27.89%	39.59%	40.39%	33.28%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.31	$3.56	$5.49	$7.65	$6.48	$10.22	$13.99	$8.63	$15.19	$24.61	$23.98
Adjusted Weighted Average Basic Shares Outstanding	2.80B	2.86B	2.90B	2.89B	2.85B	2.85B	2.82B	2.69B	2.57B	2.53B	2.52B
Adjusted Diluted Earnings per Share	$1.29	$3.49	$5.39	$7.57	$6.43	$10.09	$13.77	$8.59	$14.87	$23.86	$23.49
Adjusted Weighted Average Diluted Shares Outstanding	2.85B	2.93B	2.96B	2.92B	2.88B	2.89B	2.86B	2.70B	2.63B	2.61B	2.57B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	2.85B	2.89B	2.91B	2.85B	2.85B	2.85B	2.72B	2.59B	2.55B	2.53B	2.53B
Normalized Net Operating Profit after Tax (NOPAT)	3,706	10,143	15,631	21,721	17,870	28,699	38,928	23,301	38,540	61,228	58,589
Normalized NOPAT Margin	20.67%	36.70%	38.45%	38.90%	25.28%	33.38%	33.01%	19.98%	28.57%	37.22%	29.15%
Pre Tax Income Margin	34.55%	45.29%	50.66%	45.42%	35.10%	38.60%	40.10%	24.71%	35.16%	42.96%	42.76%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.13%	8.81%
Augmented Payout Ratio	0.00%	0.00%	12.40%	58.24%	22.73%	21.52%	113.12%	120.50%	50.58%	56.44%	52.22%

This table displays calculated financial ratios and metrics derived from Meta Platforms' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2,529,555,464.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2,529,555,464.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	10.58
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	23.21%	24.71%	27.26%	22.10%	18.87%	20.63%	16.07%	21.61%	26.25%	23.78%	33.08%
EBITDA Growth	117.77%	134.37%	78.59%	57.29%	29.44%	40.20%	26.91%	32.72%	21.86%	9.82%	24.54%
EBIT Growth	151.43%	173.35%	94.10%	62.55%	27.12%	40.12%	29.61%	35.93%	21.55%	7.65%	18.33%
NOPAT Growth	154.42%	182.24%	113.42%	68.14%	34.46%	51.29%	31.90%	37.93%	-83.19%	7.50%	77.11%
Net Income Growth	163.55%	201.27%	116.66%	72.89%	35.44%	48.65%	34.56%	36.18%	-82.73%	9.26%	60.86%
EPS Growth	167.68%	199.44%	114.09%	73.15%	37.36%	50.19%	36.52%	38.37%	-82.59%	11.43%	62.36%
Operating Cash Flow Growth	110.50%	33.72%	37.49%	11.91%	21.18%	44.24%	24.84%	31.96%	21.34%	29.39%	34.13%
Free Cash Flow Firm Growth	107.62%	101.04%	87.82%	16.18%	-877.21%	-4,932.19%	-867.04%	-304.62%	-283.18%	-165.53%	-77.85%
Invested Capital Growth	9.97%	12.81%	12.93%	17.97%	22.16%	24.36%	28.76%	34.57%	28.55%	29.91%	39.65%
Revenue Q/Q Growth	6.71%	17.47%	-9.12%	7.18%	3.89%	19.21%	-12.55%	12.29%	7.84%	16.88%	-5.98%
EBITDA Q/Q Growth	41.65%	18.37%	-12.13%	6.76%	16.57%	28.21%	-20.46%	11.64%	7.03%	15.54%	-9.79%
EBIT Q/Q Growth	50.87%	19.89%	-15.62%	6.51%	17.98%	32.15%	-21.95%	11.71%	5.50%	17.03%	-14.20%
NOPAT Q/Q Growth	44.31%	20.30%	-11.81%	9.82%	15.40%	35.36%	-23.11%	14.84%	-85.93%	765.36%	26.68%
Net Income Q/Q Growth	48.73%	21.02%	-11.76%	8.86%	16.51%	32.83%	-20.13%	10.17%	-85.23%	740.46%	17.59%
EPS Q/Q Growth	47.32%	20.73%	-11.13%	9.55%	16.86%	32.01%	-19.22%	11.04%	-85.29%	744.76%	17.70%
Operating Cash Flow Q/Q Growth	17.87%	-4.89%	-0.81%	0.64%	27.64%	13.20%	-14.16%	6.39%	17.36%	20.72%	-11.01%
Free Cash Flow Firm Q/Q Growth	115.45%	-85.99%	-1,272.43%	-230.25%	-43.27%	12.90%	-134.63%	-38.18%	-35.68%	39.64%	-57.16%
Invested Capital Q/Q Growth	1.11%	6.29%	3.34%	6.22%	4.70%	8.20%	6.99%	11.02%	0.02%	9.35%	15.02%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	81.81%	80.81%	81.79%	81.30%	81.83%	81.73%	82.11%	82.13%	82.03%	81.79%	81.85%
EBITDA Margin	49.43%	49.81%	48.16%	47.97%	53.83%	57.89%	52.66%	52.35%	51.96%	51.36%	49.28%
Operating Margin	40.26%	40.85%	37.90%	38.00%	42.75%	48.29%	41.49%	43.02%	40.07%	41.31%	40.62%
EBIT Margin	41.06%	41.90%	38.91%	38.66%	43.91%	48.68%	43.44%	43.21%	42.28%	42.33%	38.63%
Profit (Net Income) Margin	33.92%	34.95%	33.93%	34.46%	38.65%	43.07%	39.33%	38.59%	5.29%	38.01%	47.54%
Tax Burden Percent	82.62%	83.40%	87.21%	89.14%	88.03%	88.48%	90.55%	89.30%	12.51%	89.80%	123.08%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	17.38%	16.60%	12.79%	10.86%	11.97%	11.52%	9.45%	10.70%	87.49%	10.20%	-23.08%
Return on Invested Capital (ROIC)	39.56%	40.99%	40.74%	42.09%	47.32%	52.71%	45.55%	44.89%	6.08%	43.88%	56.71%
ROIC Less NNEP Spread (ROIC-NNEP)	38.72%	39.70%	39.25%	41.16%	45.92%	52.23%	42.76%	44.53%	5.47%	42.06%	62.26%
Return on Net Nonoperating Assets (RNNOA)	-7.75%	-7.78%	-6.11%	-7.04%	-8.81%	-10.75%	-6.85%	-5.80%	-0.71%	-6.32%	-7.22%
Return on Equity (ROE)	31.81%	33.21%	34.63%	35.05%	38.52%	41.96%	38.70%	39.09%	5.37%	37.57%	49.49%
Cash Return on Invested Capital (CROIC)	18.35%	22.34%	26.67%	25.25%	23.70%	24.21%	21.18%	16.34%	11.51%	8.46%	3.86%
Operating Return on Assets (OROA)	26.38%	27.22%	27.26%	26.51%	29.02%	31.67%	29.42%	29.44%	28.59%	26.50%	24.59%
Return on Assets (ROA)	21.80%	22.70%	23.77%	23.63%	25.55%	28.02%	26.64%	26.29%	3.58%	23.80%	30.26%
Return on Common Equity (ROCE)	31.81%	33.21%	34.63%	35.05%	38.52%	41.96%	38.70%	39.09%	5.37%	37.57%	49.49%
Return on Equity Simple (ROE_SIMPLE)	20.81%	0.00%	30.60%	32.81%	33.76%	0.00%	36.01%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	11,358	13,664	12,051	13,234	15,273	20,673	15,895	18,254	2,568	22,222	28,152
NOPAT Margin	33.26%	34.07%	33.06%	33.87%	37.63%	42.72%	37.56%	38.42%	5.01%	37.10%	49.99%
Net Nonoperating Expense Percent (NNEP)	0.84%	1.29%	1.49%	0.93%	1.41%	0.48%	2.79%	0.36%	0.61%	1.82%	-5.55%
Return On Investment Capital (ROIC_SIMPLE)	-	7.18%	-	-	-	8.92%	6.78%	7.46%	1.05%	7.38%	8.52%
Cost of Revenue to Revenue	18.19%	19.19%	18.21%	18.70%	18.17%	18.27%	17.89%	17.87%	17.97%	18.21%	18.15%
SG&A Expenses to Revenue	6.06%	5.71%	9.48%	9.36%	4.59%	1.57%	5.39%	5.60%	6.85%	6.17%	4.64%
R&D to Revenue	27.06%	26.22%	27.37%	26.97%	27.54%	25.17%	28.71%	27.24%	29.55%	28.61%	31.43%
Operating Expenses to Revenue	41.55%	39.97%	43.88%	43.30%	39.08%	33.45%	40.62%	39.11%	41.96%	40.48%	41.24%
Earnings before Interest and Taxes (EBIT)	14,020	16,808	14,183	15,106	17,822	23,552	18,382	20,534	21,663	25,353	21,752
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	16,879	19,980	17,557	18,743	21,849	28,012	22,282	24,876	26,626	30,764	27,751
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.39	5.92	8.34	8.16	8.80	8.09	7.89	9.51	9.51	7.66	5.94
Price to Tangible Book Value (P/TBV)	6.34	6.84	9.67	9.40	10.07	9.13	8.88	10.64	10.67	8.63	6.61
Price to Revenue (P/Rev)	6.07	6.72	8.74	8.54	9.27	8.99	8.57	10.38	9.74	8.28	6.73
Price to Earnings (P/E)	25.90	23.18	27.24	24.87	26.07	23.70	21.91	25.95	31.52	27.52	20.50
Dividend Yield	0.00%	0.00%	0.10%	0.20%	0.26%	0.34%	0.35%	0.28%	0.28%	0.32%	0.37%
Earnings Yield	3.86%	4.31%	3.67%	4.02%	3.84%	4.22%	4.56%	3.85%	3.17%	3.63%	4.88%
Enterprise Value to Invested Capital (EV/IC)	6.61	7.34	9.93	9.60	10.40	9.76	9.06	10.46	10.40	8.53	6.45
Enterprise Value to Revenue (EV/Rev)	5.82	6.46	8.55	8.36	9.09	8.77	8.41	10.27	9.64	8.15	6.63
Enterprise Value to EBITDA (EV/EBITDA)	15.68	14.88	18.39	17.12	18.18	16.75	15.77	18.93	17.94	15.67	12.95
Enterprise Value to EBIT (EV/EBIT)	20.10	18.38	22.46	20.84	22.22	20.43	19.15	22.87	21.71	19.07	15.95
Enterprise Value to NOPAT (EV/NOPAT)	24.86	22.62	27.14	24.90	26.19	23.57	22.02	26.20	32.06	27.97	20.34
Enterprise Value to Operating Cash Flow (EV/OCF)	11.16	12.26	15.98	15.97	17.16	15.80	14.91	17.95	16.98	14.15	11.49
Enterprise Value to Free Cash Flow (EV/FCFF)	37.72	34.81	39.50	41.16	48.24	44.72	48.17	73.46	101.61	113.97	194.68
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.25	0.24	0.25	0.24	0.30	0.27	0.27	0.25	0.26	0.39	0.36
Long-Term Debt to Equity	0.24	0.23	0.24	0.23	0.29	0.26	0.26	0.24	0.25	0.38	0.35
Financial Leverage	-0.20	-0.20	-0.16	-0.17	-0.19	-0.21	-0.16	-0.13	-0.13	-0.15	-0.12
Leverage Ratio	1.48	1.49	1.48	1.50	1.54	1.51	1.50	1.49	1.56	1.61	1.58
Compound Leverage Factor	1.48	1.49	1.48	1.50	1.54	1.51	1.50	1.49	1.56	1.61	1.58
Debt to Total Capital	20.22%	19.56%	20.11%	19.51%	22.96%	21.17%	21.11%	20.26%	20.83%	27.86%	26.26%
Short-Term Debt to Total Capital	0.82%	0.85%	0.90%	0.98%	0.94%	0.84%	0.84%	0.81%	0.86%	0.73%	0.73%
Long-Term Debt to Total Capital	19.41%	18.70%	19.21%	18.52%	22.02%	20.34%	20.27%	19.45%	19.97%	27.12%	25.53%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	79.78%	80.44%	79.89%	80.49%	77.04%	78.83%	78.89%	79.74%	79.17%	72.14%	73.74%
Debt to EBITDA	0.77	0.64	0.57	0.52	0.63	0.57	0.54	0.51	0.50	0.80	0.79
Net Debt to EBITDA	-0.66	-0.59	-0.40	-0.36	-0.36	-0.40	-0.30	-0.20	-0.18	-0.24	-0.21
Long-Term Debt to EBITDA	0.74	0.61	0.54	0.49	0.60	0.55	0.52	0.49	0.48	0.78	0.77
Debt to NOPAT	1.22	0.97	0.84	0.76	0.90	0.80	0.76	0.71	0.90	1.43	1.24
Net Debt to NOPAT	-1.04	-0.89	-0.59	-0.52	-0.52	-0.57	-0.41	-0.28	-0.32	-0.43	-0.33
Long-Term Debt to NOPAT	1.17	0.92	0.80	0.72	0.87	0.77	0.73	0.68	0.86	1.39	1.20
Altman Z-Score	7.85	8.72	11.79	12.06	11.03	11.18	10.78	12.66	11.55	8.17	7.16
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.57	2.67	2.68	2.83	2.73	2.98	2.66	1.97	1.98	2.60	2.35
Quick Ratio	2.43	2.55	2.55	2.69	2.57	2.82	2.50	1.71	1.67	2.42	2.11
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,223	171	-2,009	-6,636	-9,507	-8,281	-19,431	-26,850	-36,431	-21,990	-34,558
Operating Cash Flow to CapEx	314.07%	255.58%	300.72%	237.00%	299.39%	194.02%	185.66%	154.56%	159.32%	169.36%	169.64%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.64	0.65	0.70	0.69	0.66	0.65	0.68	0.68	0.68	0.63	0.64
Accounts Receivable Turnover	10.50	9.10	11.66	11.09	11.30	9.92	12.19	11.51	11.84	10.93	13.44
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.53	1.53	1.56	1.57	1.53	1.51	1.47	1.43	1.39	1.35	1.31
Accounts Payable Turnover	5.33	4.74	6.35	7.92	4.53	4.81	5.06	4.80	4.41	4.36	3.56
Days Sales Outstanding (DSO)	34.75	40.09	31.30	32.92	32.29	36.79	29.94	31.71	30.82	33.39	27.15
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	68.53	77.02	57.47	46.11	80.49	75.85	72.18	76.02	82.69	83.65	102.66
Cash Conversion Cycle (CCC)	-33.78	-36.93	-26.17	-13.20	-48.19	-39.06	-42.24	-44.31	-51.87	-50.26	-75.51
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	111,825	118,858	122,824	130,467	136,605	147,812	158,150	175,571	175,604	192,024	220,860
Invested Capital Turnover	1.19	1.20	1.23	1.24	1.26	1.23	1.21	1.17	1.21	1.18	1.13
Increase / (Decrease) in Invested Capital	10,135	13,493	14,060	19,870	24,780	28,954	35,326	45,104	38,999	44,212	62,710
Enterprise Value (EV)	739,122	871,857	1,219,931	1,252,675	1,420,244	1,443,288	1,433,421	1,836,301	1,826,404	1,638,556	1,424,414
Market Capitalization	770,170	906,167	1,246,636	1,278,971	1,448,168	1,478,113	1,460,300	1,855,800	1,844,866	1,663,775	1,447,235
Book Value per Share	$55.52	$59.60	$58.75	$61.80	$65.04	$72.35	$73.03	$77.58	$77.25	$86.19	$96.33
Tangible Book Value per Share	$47.18	$51.56	$50.64	$53.66	$56.87	$64.16	$64.88	$69.37	$68.83	$76.46	$86.55
Total Capital	179,090	190,402	187,162	194,754	213,576	231,697	234,548	244,630	245,126	301,140	330,450
Total Debt	36,217	37,234	37,633	37,991	49,047	49,060	49,519	49,560	51,060	83,897	86,769
Total Long-Term Debt	34,757	35,611	35,957	36,074	47,031	47,118	47,543	47,583	48,947	81,684	84,355
Net Debt	-31,048	-34,310	-26,705	-26,296	-27,924	-34,825	-26,879	-19,499	-18,462	-25,219	-22,821
Capital Expenditures (CapEx)	6,496	7,592	6,400	8,173	8,258	14,425	12,941	16,538	18,829	21,383	18,997
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-11,816	-10,375	-9,215	-6,736	-11,147	-9,424	-11,917	-8,786	-6,175	-12,493	-15,754
Debt-free Net Working Capital (DFNWC)	49,307	55,028	48,905	51,344	59,753	68,391	58,313	38,285	38,273	69,099	65,426
Net Working Capital (NWC)	47,847	53,405	47,229	49,427	57,737	66,449	56,337	36,308	36,160	66,886	63,012
Net Nonoperating Expense (NNE)	-225	-354	-318	-231	-415	-165	-749	-83	-141	-546	1,379
Net Nonoperating Obligations (NNO)	-31,048	-34,310	-26,705	-26,296	-27,924	-34,825	-26,879	-19,499	-18,462	-25,219	-22,821
Total Depreciation and Amortization (D&A)	2,859	3,172	3,374	3,637	4,027	4,460	3,900	4,342	4,963	5,411	5,999
Debt-free, Cash-free Net Working Capital to Revenue	-9.31%	-7.69%	-6.46%	-4.50%	-7.14%	-5.73%	-7.00%	-4.91%	-3.26%	-6.22%	-7.33%
Debt-free Net Working Capital to Revenue	38.84%	40.79%	34.27%	34.28%	38.25%	41.57%	34.23%	21.41%	20.20%	34.38%	30.44%
Net Working Capital to Revenue	37.69%	39.59%	33.09%	33.00%	36.96%	40.39%	33.07%	20.31%	19.09%	33.28%	29.31%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.50	$5.45	$4.86	$5.31	$6.20	$8.24	$6.59	$7.28	$1.08	$9.03	$10.57
Adjusted Weighted Average Basic Shares Outstanding	2.58B	2.57B	2.55B	2.53B	2.53B	2.53B	2.53B	2.52B	2.52B	2.52B	2.53B
Adjusted Diluted Earnings per Share	$4.39	$5.30	$4.71	$5.16	$6.03	$7.96	$6.43	$7.14	$1.05	$8.87	$10.44
Adjusted Weighted Average Diluted Shares Outstanding	2.64B	2.63B	2.63B	2.61B	2.60B	2.61B	2.59B	2.57B	2.57B	2.57B	2.56B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	2.57B	2.55B	2.54B	2.53B	2.52B	2.53B	2.51B	2.51B	2.52B	2.53B	2.54B
Normalized Net Operating Profit after Tax (NOPAT)	11,358	13,664	12,051	13,234	15,273	20,673	15,895	18,254	14,375	22,222	16,010
Normalized NOPAT Margin	33.26%	34.07%	33.06%	33.87%	37.63%	42.72%	37.56%	38.42%	28.05%	37.10%	28.43%
Pre Tax Income Margin	41.06%	41.90%	38.91%	38.66%	43.91%	48.68%	43.44%	43.21%	42.28%	42.33%	38.63%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	8.13%	7.70%	7.26%	8.98%	8.81%	7.57%
Augmented Payout Ratio	69.60%	50.58%	55.55%	59.92%	64.94%	56.44%	49.52%	51.64%	53.83%	52.22%	26.68%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, investor-focused trend snapshot for Meta Platforms, Inc. (META) based on the last four years of quarterly statements (income statement, cash flow, and balance sheet).

Revenue growth and scale: Meta’s quarterly operating revenue has trended higher, with Q4 2025 revenue of approximately $59.9B, up from around $42.3B in Q1 2025 and continuing a multi-quarter uptrend.
Gross margin stability: Total gross profit in Q4 2025 was about $48.99B on $59.9B revenue, yielding a gross margin near 82%, a stable profitability backdrop through the period.
Net income strength in latest quarter: Q4 2025 net income attributable to common shareholders was about $22.77B, marking a material positive swing versus prior quarters.
Strong operating cash flow: Net cash from continuing operating activities in Q4 2025 was about $36.21B, highlighting robust cash generation from core operations.
Solid free cash flow: Free cash flow for Q4 2025 was roughly $14.8B (occurring after ~$21.38B in capex), signaling ample cash to fund returns, debt management, and strategic investments.
Healthy liquidity and asset base: Meta maintains substantial liquidity and a strong balance sheet, with large cash and short-term investments and a high current ratio in recent periods (examples include ~56B+ in liquid assets across the latest balance sheets, and total assets around $304B in mid-2025).
Earnings per share visibility: Q4 2025 shows strong earnings per share metrics (Basic EPS 9.03, Diluted EPS 8.87 per share), supported by a sizable share base (~2.52B weighted average shares).
Financing flexibility: Net cash from financing activities in Q4 2025 was about $25.15B, aided by debt issuance (~$29.91B), which provides liquidity to fund growth initiatives.
Ongoing investment in growth initiatives: Fourth-quarter investments remained meaningful, including capex of about $21.38B and R&D spend around $17.14B in Q4 2025, underscoring continued expansion of platform capabilities and data-center infrastructure.
Earnings volatility across quarters: While Q4 2025 saw a large net income figure, earlier quarters (e.g., Q3 2025) posted much smaller earnings, indicating quarterly earnings can swing due to one-offs or operating/financing items.
Capex versus cash flow dynamics: Capex remains sizable relative to operating cash flow, which is a potential draw on near-term liquidity if revenue growth slows, though FCF has remained positive.
Debt issuance and leverage considerations: Strategic debt issuance supports liquidity and growth, but rising gross leverage could warrant monitoring if revenue growth slows or if financing mixes shift unexpectedly.
Investing cash outflows are substantial: Net cash from investing activities has been consistently negative (e.g., Q4 2025 about -$34.19B), reflecting ongoing capital expenditure and acquisitions that reduce near-term cash despite strong operating cash flow.
Near-term investing intensity risk: The combination of sizable capex and negative investing cash flow could pressure liquidity if operating momentum weakens, making ongoing free cash flow gains crucial for balance-sheet resilience.

05/25/26 12:27 PM ETAI Generated. May Contain Errors.

Meta Platforms Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Meta Platforms' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Meta Platforms' net income appears to be on an upward trend, with a most recent value of $60.46 billion in 2025, rising from $3.69 billion in 2015. The previous period was $62.36 billion in 2024. Check out Meta Platforms' forecast to explore projected trends and price targets.

Meta Platforms' total operating income in 2025 was $83.28 billion, based on the following breakdown:

Total Gross Profit: $164.79 billion
Total Operating Expenses: $81.52 billion

Over the last 10 years, Meta Platforms' total revenue changed from $17.93 billion in 2015 to $200.97 billion in 2025, a change of 1,021.0%.

Meta Platforms' total liabilities were at $148.78 billion at the end of 2025, a 59.3% increase from 2024, and a 2,767.2% increase since 2015.

In the past 10 years, Meta Platforms' cash and equivalents has ranged from $4.91 billion in 2015 to $43.89 billion in 2024, and is currently $35.87 billion as of their latest financial filing in 2025.

Over the last 10 years, Meta Platforms' book value per share changed from 15.64 in 2015 to 86.19 in 2025, a change of 451.2%.

Related Companies

Financial statements for NASDAQ:META last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Meta Platforms (META) Financials

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Meta Platforms (META) Financials

Annual Income Statements for Meta Platforms

Quarterly Income Statements for Meta Platforms

Annual Cash Flow Statements for Meta Platforms

Quarterly Cash Flow Statements for Meta Platforms

Annual Balance Sheets for Meta Platforms

Quarterly Balance Sheets for Meta Platforms

Annual Metrics And Ratios for Meta Platforms

Quarterly Metrics And Ratios for Meta Platforms

Financials Breakdown Chart

Key Financial Trends

Meta Platforms Financials - Frequently Asked Questions

When does Meta Platforms' financial year end?

How has Meta Platforms' net income changed over the last 10 years?

What is Meta Platforms' operating income?

How has Meta Platforms' revenue changed over the last 10 years?

How much debt does Meta Platforms have?

How much cash does Meta Platforms have?

How has Meta Platforms' book value per share changed over the last 10 years?

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