NASDAQ : META
Meta Platforms, Inc. — Financial statements
Communication Services · Internet Content & Information · United States
Last price 606.73 USD (Nov 2, 2026, 4:00 PM EST) · Market cap 1.55T
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Financial statements
Meta Platforms, Inc. (META) reported revenue of 241.60B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 241.60B | 200.97B | 164.50B | 134.90B | 116.61B | 117.93B |
| Cost of Revenue | 45.82B | 36.17B | 30.16B | 25.96B | 23.75B | 22.65B |
| Gross Profit | 195.78B | 164.79B | 134.34B | 108.94B | 92.86B | 95.28B |
| Selling, General & Admin | 27.97B | 24.14B | 21.09B | 23.71B | 25.68B | 23.87B |
| Research & Development | 76.54B | 57.37B | 43.87B | 38.48B | 33.62B | 24.66B |
| Operating Expenses | 104.51B | 81.52B | 64.96B | 62.19B | 59.30B | 48.53B |
| Operating Income | 91.27B | 83.28B | 69.38B | 46.75B | 33.55B | 46.75B |
| Interest Expense | -2.78B | -1.17B | -715.00M | -446.00M | -185.00M | -23.00M |
| Interest & Investment Income | 3.16B | 2.12B | 2.52B | 1.64B | 461.00M | 484.00M |
| Currency Exchange Gain (Loss) | -581.00M | 352.00M | -690.00M | -366.00M | -81.00M | -140.00M |
| Other Non Operating Income (Expenses) | 1.77B | 208.00M | 118.00M | -48.00M | 127.00M | 210.00M |
| EBT Excluding Unusual Items | 92.84B | 84.79B | 70.61B | 47.53B | 33.88B | 47.28B |
| Merger & Restructuring Charges | -4.61B | |||||
| Gain (Loss) on Sale of Investments | -2.09B | 1.14B | 53.00M | -102.00M | -447.00M | |
| Legal Settlements | -11.89B | |||||
| Pretax Income | 78.86B | 85.93B | 70.66B | 47.43B | 28.82B | 47.28B |
| Income Tax Expense | 3.61B | 25.47B | 8.30B | 8.33B | 5.62B | 7.91B |
| Net Income | 75.25B | 60.46B | 62.36B | 39.10B | 23.20B | 39.37B |
| Net Income to Common | 75.25B | 60.46B | 62.36B | 39.10B | 23.20B | 39.37B |
| Shares Outstanding (Basic) | 2.54B | 2.52B | 2.53B | 2.57B | 2.69B | 2.81B |
| Shares Outstanding (Diluted) | 2.57B | 2.57B | 2.61B | 2.63B | 2.70B | 2.86B |
| EPS (Basic) | 29.65 | 23.98 | 24.61 | 15.19 | 8.63 | 13.99 |
| EPS (Diluted) | 29.33 | 23.49 | 23.86 | 14.87 | 8.59 | 13.77 |
| Free Cash Flow | 28.65B | 46.11B | 54.07B | 44.07B | 19.29B | 38.99B |
| Free Cash Flow Per Share | 11.16 | 17.91 | 20.69 | 16.76 | 7.14 | 13.64 |
| Dividend Per Share | 2.10 | 2.10 | 2.00 | |||
| Gross Margin | 81.03% | 82.00% | 81.66% | 80.76% | 79.63% | 80.79% |
| Operating Margin | 37.78% | 41.44% | 42.18% | 34.66% | 28.78% | 39.65% |
| Profit Margin | 31.14% | 30.08% | 37.91% | 28.98% | 19.90% | 33.38% |
| Free Cash Flow Margin | 11.86% | 22.94% | 32.87% | 32.67% | 16.54% | 33.06% |
| EBITDA | 116.19B | 101.89B | 84.82B | 57.93B | 42.24B | 54.72B |
| EBITDA Margin | 48.09% | 50.70% | 51.56% | 42.94% | 36.22% | 46.40% |
| D&A For EBITDA | 24.92B | 18.62B | 15.44B | 11.18B | 8.69B | 7.97B |
| EBIT | 91.27B | 83.28B | 69.38B | 46.75B | 33.55B | 46.75B |
| EBIT Margin | 37.78% | 41.44% | 42.18% | 34.66% | 28.78% | 39.65% |
| Effective Tax Rate | 4.58% | 29.64% | 11.75% | 17.56% | 19.50% | 16.74% |
| Advertising Expenses | 2.09B | 2.06B | 2.02B | 2.65B | 2.99B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 11.22B | 35.87B | 43.89B | 41.86B | 14.68B | 16.60B |
| Short-Term Investments | 71.23B | 45.72B | 33.93B | 23.54B | 26.06B | 31.40B |
| Cash & Short-Term Investments | 82.45B | 81.59B | 77.81B | 65.40B | 40.74B | 48.00B |
| Receivables | 22.72B | 19.77B | 16.99B | 16.17B | 13.47B | 14.04B |
| Prepaid Expenses | 11.54B | 6.52B | 4.88B | 3.69B | 5.05B | 4.48B |
| Restricted Cash | 597.00M | 837.00M | 353.00M | 99.00M | 294.00M | 149.00M |
| Total Current Assets | 119.90B | 108.72B | 100.05B | 85.36B | 59.55B | 66.67B |
| Property, Plant & Equipment | 279.80B | 196.80B | 136.27B | 109.88B | 92.19B | 69.96B |
| Long-Term Investments | 32.62B | 27.52B | 6.07B | 6.14B | 6.20B | 6.78B |
| Goodwill | 23.42B | 24.53B | 20.65B | 20.65B | 20.31B | 19.20B |
| Other Intangible Assets | 3.69B | 915.00M | 788.00M | 897.00M | 634.00M | |
| Other Long-Term Assets | 23.09B | 4.75B | 12.10B | 6.79B | 6.58B | 2.75B |
| Total Assets | 478.84B | 366.02B | 276.05B | 229.62B | 185.73B | 165.99B |
| Accounts Payable | 19.10B | 8.89B | 7.69B | 4.85B | 4.99B | 4.08B |
| Accrued Expenses | 3.85B | 7.15B | 6.35B | 6.66B | 4.59B | 3.15B |
| Current Portion of Leases | 2.52B | 2.52B | 1.94B | 1.62B | 1.37B | 1.13B |
| Current Income Taxes Payable | 2.06B | 1.92B | 3.44B | 3.65B | 2.34B | 1.26B |
| Other Current Liabilities | 32.74B | 21.35B | 14.18B | 15.17B | 13.74B | 11.52B |
| Total Current Liabilities | 63.01B | 41.84B | 33.60B | 31.96B | 27.03B | 21.14B |
| Long-Term Debt | 80.92B | 58.74B | 28.83B | 18.39B | 9.92B | |
| Long-Term Leases | 28.65B | 23.82B | 18.29B | 17.23B | 15.30B | 12.75B |
| Other Long-Term Liabilities | 33.87B | 24.38B | 12.70B | 8.88B | 7.76B | 7.23B |
| Total Liabilities | 206.45B | 148.78B | 93.42B | 76.45B | 60.01B | 41.11B |
| Additional Paid-In Capital | 95.79B | 83.23B | 73.25B | 64.44B | 55.81B | |
| Retained Earnings | 165.34B | 121.18B | 102.51B | 82.07B | 64.80B | 69.76B |
| Comprehensive Income & Other | -1.20B | 271.00M | -3.10B | -2.15B | -3.53B | -693.00M |
| Shareholders' Equity | 272.39B | 217.24B | 182.64B | 153.17B | 125.71B | 124.88B |
| Total Liabilities & Equity | 478.84B | 366.02B | 276.05B | 229.62B | 185.73B | 165.99B |
| Total Debt | 114.84B | 85.08B | 49.06B | 37.23B | 26.59B | 13.87B |
| Net Cash (Debt) | -32.39B | -3.49B | 28.75B | 28.17B | 14.15B | 34.12B |
| Net Cash Per Share | -12.62 | -1.36 | 11.00 | 10.71 | 5.24 | 11.94 |
| Filing Date Shares Outstanding | 2.56B | 2.53B | 2.53B | 2.55B | 2.59B | 2.72B |
| Total Common Shares Outstanding | 2.56B | 2.53B | 2.53B | 2.56B | 2.61B | 2.74B |
| Working Capital | 56.89B | 66.89B | 66.45B | 53.41B | 32.52B | 45.53B |
| Book Value Per Share | 106.57 | 85.87 | 72.07 | 59.81 | 48.09 | 45.56 |
| Tangible Book Value | 248.97B | 189.02B | 161.07B | 131.73B | 104.51B | 105.05B |
| Tangible Book Value Per Share | 97.40 | 74.71 | 63.56 | 51.44 | 39.98 | 38.32 |
| Land | 3.76B | 3.69B | 2.56B | 2.08B | 1.87B | 1.69B |
| Buildings | 68.22B | 55.57B | 47.08B | 37.96B | 27.72B | 22.53B |
| Machinery | 144.44B | 107.42B | 75.55B | 54.25B | 39.97B | 30.35B |
| Construction In Progress | 89.50B | 50.52B | 26.80B | 24.27B | 25.05B | 14.69B |
| Leasehold Improvements | 8.86B | 8.35B | 7.29B | 6.97B | 6.52B | 5.79B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 75.25B | 60.46B | 62.36B | 39.10B | 23.20B | 39.37B |
| Depreciation & Amortization | 24.92B | 18.62B | 15.44B | 11.18B | 8.69B | 7.97B |
| Other Amortization | 58.00M | |||||
| Asset Writedown & Restructuring Costs | 383.00M | 2.43B | 3.56B | |||
| Loss (Gain) From Sale of Investments | 708.00M | -1.14B | -53.00M | 102.00M | ||
| Stock-Based Compensation | 26.94B | 20.43B | 16.69B | 14.03B | 11.99B | 9.16B |
| Other Operating Activities | 4.26B | 18.32B | -4.60B | 440.00M | -2.65B | 482.00M |
| Change in Accounts Receivable | -5.75B | -1.81B | -1.49B | -2.40B | 231.00M | -3.11B |
| Change in Accounts Payable | 1.86B | -14.00M | 373.00M | 51.00M | 210.00M | 1.44B |
| Change in Other Net Operating Assets | 4.89B | 944.00M | 2.16B | 6.18B | 5.24B | 2.37B |
| Operating Cash Flow | 133.09B | 115.80B | 91.33B | 71.11B | 50.48B | 57.68B |
| Capital Expenditures | -104.44B | -69.69B | -37.26B | -27.05B | -31.19B | -18.69B |
| Sale of Property, Plant & Equipment | 123.00M | |||||
| Cash Acquisitions | -4.00B | -4.23B | -270.00M | -629.00M | -1.31B | -851.00M |
| Investment in Securities | -39.12B | -25.83B | -9.76B | 3.20B | 3.53B | 12.18B |
| Other Investing Activities | -938.00M | -2.25B | 140.00M | -22.00M | -4.00M | -331.00M |
| Investing Cash Flow | -148.50B | -102.00B | -47.15B | -24.50B | -28.97B | -7.57B |
| Long-Term Debt Issued | 29.91B | 10.43B | 8.46B | 9.92B | ||
| Total Debt Issued | 54.82B | 29.91B | 10.43B | 8.46B | 9.92B | |
| Long-Term Debt Repaid | -2.52B | -1.97B | -1.06B | -850.00M | -677.00M | |
| Total Debt Repaid | -3.52B | -2.52B | -1.97B | -1.06B | -850.00M | -677.00M |
| Net Debt Issued (Repaid) | 51.29B | 27.38B | 8.46B | 7.40B | 9.07B | -677.00M |
| Repurchase of Common Stock | -17.04B | -44.65B | -43.90B | -26.79B | -31.55B | -50.05B |
| Common Dividends Paid | -5.40B | -5.32B | -5.07B | |||
| Other Financing Activities | -1.02B | 2.22B | -277.00M | -111.00M | 344.00M | 1.00M |
| Financing Cash Flow | 27.83B | -20.37B | -40.78B | -19.50B | -22.14B | -50.73B |
| Foreign Exchange Rate Adjustments | -9.00M | 235.00M | -786.00M | 113.00M | -638.00M | -474.00M |
| Net Cash Flow | 12.41B | -6.34B | 2.61B | 27.23B | -1.27B | -1.09B |
| Free Cash Flow | 28.65B | 46.11B | 54.07B | 44.07B | 19.29B | 38.99B |
| Free Cash Flow Margin | 11.86% | 22.94% | 32.87% | 32.67% | 16.54% | 33.06% |
| Free Cash Flow Per Share | 11.16 | 17.91 | 20.69 | 16.76 | 7.14 | 13.64 |
| Levered Free Cash Flow | 16.85B | 23.43B | 36.90B | 30.63B | 15.86B | 28.75B |
| Unlevered Free Cash Flow | 18.58B | 24.16B | 37.34B | 30.91B | 15.97B | 28.76B |
| Cash Interest Paid | 1.46B | 696.00M | 486.00M | 448.00M | ||
| Cash Income Tax Paid | 4.21B | 7.58B | 10.55B | 6.61B | 6.41B | 8.53B |
| Change in Working Capital | 1.01B | -885.00M | 1.05B | 3.84B | 5.68B | 700.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.55T | 1.66T | 1.48T | 910.12B | 315.56B | 935.64B |
| Enterprise Value | 1.58T | 1.67T | 1.46T | 885.87B | 300.26B | 890.79B |
| Last Close Price | 606.73 | 658.40 | 582.17 | 350.60 | 119.20 | 333.16 |
| PE Ratio | 20.69 | 27.52 | 23.70 | 23.28 | 13.60 | 23.77 |
| Forward PE | 18.42 | 22.59 | 23.96 | 20.78 | 16.39 | 24.69 |
| PS Ratio | 6.42 | 8.28 | 8.98 | 6.75 | 2.71 | 7.93 |
| PB Ratio | 5.69 | 7.66 | 8.09 | 5.94 | 2.51 | 7.49 |
| P/TBV Ratio | 6.23 | 8.80 | 9.18 | 6.91 | 3.02 | 8.91 |
| P/FCF Ratio | 54.14 | 36.08 | 27.34 | 20.65 | 16.36 | 24.00 |
| P/OCF Ratio | 11.65 | 14.37 | 16.18 | 12.80 | 6.25 | 16.22 |
| PEG Ratio | 0.95 | 1.34 | 1.36 | 1.04 | 4.78 | 1.29 |
| EV/Sales Ratio | 6.55 | 8.31 | 8.85 | 6.57 | 2.58 | 7.55 |
| EV/EBITDA Ratio | 13.63 | 16.39 | 17.17 | 15.29 | 7.11 | 16.28 |
| EV/EBIT Ratio | 17.35 | 20.06 | 20.99 | 18.95 | 8.95 | 19.05 |
| EV/FCF Ratio | 55.27 | 36.23 | 26.93 | 20.10 | 15.57 | 22.84 |
| Debt / Equity Ratio | 0.42 | 0.39 | 0.27 | 0.24 | 0.21 | 0.11 |
| Debt / EBITDA Ratio | 0.95 | 0.80 | 0.56 | 0.61 | 0.60 | 0.25 |
| Debt / FCF Ratio | 4.01 | 1.84 | 0.91 | 0.84 | 1.38 | 0.36 |
| Net Debt / Equity Ratio | 0.12 | 0.02 | -0.16 | -0.18 | -0.11 | -0.27 |
| Net Debt / EBITDA Ratio | 0.28 | 0.03 | -0.34 | -0.49 | -0.34 | -0.62 |
| Net Debt / FCF Ratio | 1.13 | 0.08 | -0.53 | -0.64 | -0.73 | -0.88 |
| Asset Turnover | 0.62 | 0.63 | 0.65 | 0.65 | 0.66 | 0.72 |
| Quick Ratio | 1.67 | 2.42 | 2.82 | 2.55 | 2.01 | 2.94 |
| Current Ratio | 1.90 | 2.60 | 2.98 | 2.67 | 2.20 | 3.15 |
| Return on Equity (ROE) | 32.26% | 30.24% | 37.14% | 28.04% | 18.52% | 31.10% |
| Return on Assets (ROA) | 14.58% | 16.21% | 17.15% | 14.07% | 11.93% | 17.96% |
| Return on Invested Capital (ROIC) | 29.62% | 31.28% | 43.91% | 32.58% | 26.70% | 46.41% |
| Return on Capital Employed (ROCE) | 21.90% | 25.70% | 28.60% | 23.70% | 21.10% | 32.30% |
| Earnings Yield | 4.83% | 3.63% | 4.22% | 4.30% | 7.35% | 4.21% |
| FCF Yield | 1.85% | 2.77% | 3.66% | 4.84% | 6.11% | 4.17% |
| Dividend Yield | 0.35% | 0.32% | 0.34% | |||
| Payout Ratio | 7.16% | 8.81% | 8.13% | |||
| Buyback Yield / Dilution | 0.76% | 1.53% | 0.57% | 2.70% | 5.49% | 1.00% |
| Total Shareholder Return | 1.11% | 1.85% | 0.91% | 2.70% | 5.49% | 1.00% |