Financials

Income statement, balance sheet and cash flow, built from SEC EDGAR filings.

Meta Platforms, Inc.

META · CIK 0001326801
Annual Quarterly

Figures in millions of USD unless the line is a per-share amount or a share count.

Line item Q3 2026 2026-09-30 Q2 2026 2026-06-30 Q1 2026 2026-03-31 Q4 2025 2025-12-31 Q3 2025 2025-09-30 Q2 2025 2025-06-30 Q1 2025 2025-03-31 Q4 2024 2024-12-31
Income Statement
Revenue 64,601 60,801 56,311 59,894 51,242 47,516 42,314 48,386
Operating Income 12,988 18,775 22,872 24,745 20,535 20,441 17,555 23,365
Pre-Tax Income 13,001 18,756 21,752 25,353 21,663 20,534 18,382 23,552
Net Income 9,860 15,848 26,773 22,768 2,709 18,337 16,644 20,838
EPS (Diluted) 3.83 6.18 10.44 8.88 1.05 7.14 6.43 7.95
Balance Sheet
Total Assets 478,836 449,956 395,250 366,021 303,844 294,744 280,213 276,054
Total Liabilities 206,450 188,735 151,569 148,778 109,778 99,674 95,184 93,417
Shareholders' Equity 272,386 261,221 243,681 217,243 194,066 195,070 185,029 182,637
Cash & Equivalents 11,222 15,462 23,426 35,873 10,187 12,005 28,750 43,889
Cash Flow
Operating Cash Flow 32,785 31,862 32,226 36,214 29,999 25,561 24,026 27,988
Capital Expenditures -33,942 -30,116 -18,997 -21,383 -18,829 -16,538 -12,941 -14,425
Free Cash Flow -1,157 1,746 13,229 14,831 11,170 9,023 11,085 13,563
Ratios
Operating Margin 20.10% 30.88% 40.62% 41.31% 40.07% 43.02% 41.49% 48.29%
Profit Margin 15.26% 26.07% 47.54% 38.01% 5.29% 38.59% 39.33% 43.07%
Free Cash Flow Margin -1.79% 2.87% 23.49% 24.76% 21.80% 18.99% 26.20% 28.03%
Line item Q3 2026 2026-09-30 Q2 2026 2026-06-30 Q1 2026 2026-03-31 Q4 2025 2025-12-31 Q3 2025 2025-09-30 Q2 2025 2025-06-30 Q1 2025 2025-03-31 Q4 2024 2024-12-31
Revenue
Total Revenue 64,601 60,801 56,311 59,894 51,242 47,516 42,314 48,386
Cost of Revenue
Cost of Revenue 13,369 11,330 10,218 10,906 9,206 8,491 7,572 8,838
Operating Expenses
R&D Expense 20,054 21,656 17,699 17,136 15,144 12,942 12,150 12,181
Selling & Marketing 3,333 3,431 2,908 3,410 2,845 2,979 2,757 3,240
General & Administrative 14,857 5,609 2,614 3,697 3,512 2,663 2,280 762
Total Costs & Expenses 51,613 42,026 33,439 35,149 30,707 27,075 24,759 25,021
Operating Income
Operating Income 12,988 18,775 22,872 24,745 20,535 20,441 17,555 23,365
Non-Operating Items
Non-Operating Income/Expense 13 -19 -1,120 608 1,128 93 827 187
Pre-Tax Income
Income Before Tax 13,001 18,756 21,752 25,353 21,663 20,534 18,382 23,552
Tax
Income Tax Expense 3,141 2,908 -5,021 2,585 18,954 2,197 1,738 2,714
Net Income
Net Income Available to Common 9,860 15,848 26,773 22,768 2,709 18,337 16,644 20,838
EPS
EPS (Basic) 3.86 6.23 10.57 9.03 1.08 7.28 6.59 8.24
EPS (Diluted) 3.83 6.18 10.44 8.88 1.05 7.14 6.43 7.95
Shares
Shares Outstanding (Basic) 2,552 2,543 2,534 2,522 2,517 2,518 2,527 2,528
Shares Outstanding (Diluted) 2,573 2,566 2,564 2,564 2,572 2,570 2,590 2,621
Line item Q3 2026 2026-09-30 Q2 2026 2026-06-30 Q1 2026 2026-03-31 Q4 2025 2025-12-31 Q3 2025 2025-09-30 Q2 2025 2025-06-30 Q1 2025 2025-03-31 Q4 2024 2024-12-31
Assets
Total Assets 478,836 449,956 395,250 366,021 303,844 294,744 280,213 276,054
Current Assets 119,900 125,475 109,765 108,722 73,118 73,613 90,227 100,045
Current Assets
Cash & Cash Equivalents 11,222 15,462 23,426 35,873 10,187 12,005 28,750 43,889
Marketable Securities, Current 71,227 74,798 57,754 45,719 34,261 35,066 41,480 33,926
Accounts Receivable, Net 22,716 21,752 17,470 19,769 17,297 16,561 14,514 16,994
Prepaid & Other Current Assets 14,735 13,463 11,115 7,361 11,373 9,981 5,483 5,236
Non-Current Assets
Goodwill 23,421 23,406 24,748 24,534 21,158 20,654 20,654 20,654
Other Non-Current Assets 23,093 21,209 14,283 8,437 6,852 15,788 14,092 13,017
Operating Lease Right-of-Use Assets 26,576 23,985 23,268 20,404 17,372 15,662 15,505 14,922
Liabilities & Equity
Total Liabilities & Equity 478,836 449,956 395,250 366,021 303,844 294,744 280,213 276,054
Liabilities
Total Liabilities 206,450 188,735 151,569 148,778 109,778 99,674 95,184 93,417
Current Liabilities
Current Liabilities 63,011 56,379 46,753 41,836 36,958 37,305 33,890 33,596
Accounts Payable 19,097 15,889 — 8,894 — — — —
Accrued Liabilities 41,392 38,065 31,013 30,729 27,047 25,057 23,402 23,967
Operating Lease Liability, Current 2,522 2,425 2,414 2,213 2,113 1,977 1,976 1,942
Non-Current Liabilities
Long-Term Debt 80,922 83,664 58,748 58,744 28,834 28,832 28,829 28,826
Operating Lease Liability, Non-Current 28,651 26,229 25,607 22,940 20,113 18,751 18,714 18,292
Other Non-Current Liabilities 13,345 4,137 3,612 4,253 12,135 2,740 2,760 2,716
Equity
Total Stockholders' Equity 272,386 261,221 243,681 217,243 194,066 195,070 185,029 182,637
Common Stock & Additional Paid-In Capital 108,244 103,981 99,337 95,793 — — — —
Common Stock — — — 0 0 0 0 0
Additional Paid-In Capital — — — 95,793 92,330 88,496 85,568 83,228
Retained Earnings (Deficit) 165,342 157,843 144,647 121,179 101,577 106,345 101,326 102,506
Accumulated OCI -1,200 -603 -303 271 159 229 -1,865 -3,097
Other Items
Common stock, par value 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Non-marketable equity investments 32,624 30,157 28,410 27,524 25,074 21,988 6,168 6,070
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization 253,222 225,724 194,776 176,400 160,270 147,039 133,567 121,346
Accounts Payable, Trade, Current — — 13,326 8,894 7,798 10,271 8,512 7,687
Accrued Income Taxes, Noncurrent 20,521 18,326 16,849 21,005 11,738 12,046 10,991 9,987
Line item Q3 2026 2026-09-30 Q2 2026 2026-06-30 Q1 2026 2026-03-31 Q4 2025 2025-12-31 Q3 2025 2025-09-30 Q2 2025 2025-06-30 Q1 2025 2025-03-31 Q4 2024 2024-12-31
Operating Activities
Net Income 9,860 15,848 26,773 22,768 2,709 18,337 16,644 20,838
Operating Cash Flow 32,785 31,862 32,226 36,214 29,999 25,561 24,026 27,988
Depreciation & Amortization (CF) 7,154 6,356 5,999 5,411 4,963 4,342 3,900 4,460
Share-Based Compensation 7,363 7,658 6,032 5,890 5,556 4,834 4,147 4,262
Deferred Income Tax 2,117 1,445 123 — 19,867 -1,170 -993 —
Change in Accounts Receivable -999 -4,401 2,128 -2,475 -806 -1,338 2,804 -2,978
Change in Accrued Liabilities 1,940 5,933 -271 3,960 455 -1,107 -2,231 1,522
Change in Other Operating Assets -2,438 -1,453 -1,082 -272 33 -190 -52 -200
Change in Prepaid & Other Assets -936 -806 -2,424 259 -1,034 326 360 -530
Other Non-Cash Items -329 -56 -17 -57 17 -280 -96 -66
Investing Activities
Investing Cash Flow -30,978 -49,653 -33,678 -34,187 -21,848 -25,958 -20,010 -21,498
Capital Expenditures -33,942 -30,116 -18,997 -21,383 -18,829 -16,538 -12,941 -14,425
Other Investing Activities 923 1 155 230 -62 3 11 18
Capex Incurred But Not Yet Paid 1,607 3,462 16,040 195 -1,482 1,280 9,338 -90
Financing Activities
Financing Cash Flow -6,732 15,967 -6,553 25,149 -10,047 -15,977 -19,495 -5,465
Issuance of Long-Term Debt 0 — — 29,906 0 — — 0
Share Repurchases 0 0 0 0 -3,327 -10,167 -12,754 0
Dividends Paid -1,361 -1,353 -1,346 -1,338 -1,330 -1,327 -1,329 -1,270
Taxes Paid for Share Settlement -4,064 -4,281 -4,423 -4,272 -5,135 -4,110 -4,883 -3,857
Other Financing Activities -343 -2,347 59 1,607 290 101 222 73
Reconciliation
Effect of Exchange Rate Changes 8 -7 7 -17 9 131 112 -714
Net Change in Cash -4,917 -1,831 -7,998 27,159 -1,887 -16,243 -15,367 311
Supplemental
Interest Paid 271 813 284 93 125 126 352 130
Income Taxes Paid 927 1,458 541 1,285 749 5,096 448 2,228
Other Items
Unrealized (gain) and loss on equity investments 19 110 1,075 -496 -962 455 -135 —
Equity Securities, FV-NI, Unrealized Gain (Loss) — — — — -922 511 — —
Long-Lived Asset, Held and Used, Impairment Loss — — — — — — — 95
Increase (Decrease) in Accounts Payable, Trade 1,596 583 -937 623 -63 460 -1,034 568
Increase (Decrease) in Other Noncurrent Liabilities 7,438 645 -5,173 -431 -736 892 712 1,114
Payments to Acquire Debt Securities, Available-for-Sale -41,875 -42,614 -32,978 — -2,840 -7,746 -11,763 —
Proceeds from Sale and Maturity of Debt Securities, Available-for-Sale 44,801 24,860 19,176 — 4,704 14,273 4,784 —
Payments for non-marketable equity investments -874 -1,126 -544 -70 -3,046 -15,114 -100 -1
Payments for held-for-sale assets -938 -556 -118 -635 -1,022 -775 0 0
Acquisitions of businesses and intangible assets -110 -102 -372 -3,416 -753 -61 -1 -9
Operating cash flows from finance leases -964 -962 -843 -754 -545 -474 -751 -411
Acquisition of businesses and intangible assets in accounts payable, accrued expenses and other current liabilities, and other liabilities -579 3 2,169 728 1,799 -27 159 -14
Repurchases of Class A common stock in accrued expenses and other current liabilities — 0 0 — — -446 577 0

Ratios derived from the statements above and the EOD price feed; prices are taken at each period's end date.

Line item Q3 2026 2026-09-30 Q2 2026 2026-06-30 Q1 2026 2026-03-31 Q4 2025 2025-12-31 Q3 2025 2025-09-30 Q2 2025 2025-06-30 Q1 2025 2025-03-31 Q4 2024 2024-12-31
Financial Efficiency
Asset Turnover 0.13 0.14 0.14 0.16 0.17 0.16 0.15 0.18
Current Ratio 1.90 2.23 2.35 2.60 1.98 1.97 2.66 2.98
Debt / EBITDA Ratio 5.57 4.47 3.01 2.78 2.00 2.00 2.31 1.76
Debt / Equity Ratio 0.41 0.43 0.36 0.39 0.26 0.25 0.27 0.27
Debt / FCF Ratio -96.88 64.33 6.56 5.66 4.57 5.49 4.47 3.62
Net Debt / EBITDA Ratio 5.01 3.85 2.19 1.59 1.60 1.52 0.97 0.19
Net Debt / Equity Ratio 0.37 0.37 0.26 0.22 0.21 0.19 0.11 0.03
Net Debt / FCF Ratio -87.18 55.47 4.79 3.24 3.66 4.16 1.87 0.38
Quick Ratio 0.54 0.66 0.87 1.33 0.74 0.77 1.28 1.81
Return on Assets (ROA) 2.12% 3.75% 7.03% 6.80% 0.91% 6.38% 5.98% 7.83%
Return on Capital Employed (ROCE) 3.12% 4.77% 6.56% 7.63% 7.69% 7.94% 7.13% 9.64%
Return on Equity (ROE) 3.70% 6.28% 11.62% 11.07% 1.39% 9.65% 9.05% 12.00%
Return on Invested Capital (ROIC) 2.64% 4.43% 8.72% 8.58% 1.15% 7.88% 8.09% 11.10%
Yields
Dividend Yield 0.07% 0.09% 0.09% 0.08% 0.07% 0.07% 0.09% 0.09%
Earnings Yield 0.53% 1.11% 1.85% 1.37% 0.15% 0.99% 1.14% 1.41%
FCF Yield -0.06% 0.12% 0.91% 0.89% 0.60% 0.49% 0.76% 0.92%
Payout Ratio 13.80% 8.54% 5.03% 5.88% 49.10% 7.24% 7.98% 6.09%
Total Valuation
Enterprise Value 1,749,786 1,335,590 1,386,434 1,616,723 1,807,561 1,820,956 1,435,693 1,474,998
Last Close Price 725.18 563.29 572.13 660.09 734.38 738.09 576.36 585.51
Market Capitalization 1,850,659 1,432,446 1,449,777 1,664,747 1,848,434 1,858,511 1,456,462 1,480,169
EV Ratios
EV/EBIT Ratio 134.72 71.14 60.62 65.34 88.02 89.08 81.78 63.13
EV/EBITDA Ratio 86.87 53.15 48.02 53.61 70.89 73.48 66.92 53.01
EV/FCF Ratio -1,512.35 764.94 104.80 109.01 161.82 201.81 129.52 108.75
EV/Sales Ratio 27.09 21.97 24.62 26.99 35.28 38.32 33.93 30.48
Price Ratios
P/FCF Ratio -1,599.53 820.42 109.59 112.25 165.48 205.97 131.39 109.13
P/OCF Ratio 56.45 44.96 44.99 45.97 61.62 72.71 60.62 52.89
P/TBV Ratio 7.43 6.02 6.62 8.64 10.69 10.66 8.86 9.14
PB Ratio 6.79 5.48 5.95 7.66 9.52 9.53 7.87 8.10
PE Ratio 187.87 90.42 54.13 73.12 679.98 101.39 87.46 71.03
PEG Ratio — — 3.17 0.10 — 9.68 — 2.16
PS Ratio 28.65 23.56 25.75 27.79 36.07 39.11 34.42 30.59