Meta Platforms Inc. Class A Common Stock (META) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$7.22	$6.18	-14.4%	—	$60.8B	—
Q1 26	$6.82	$7.31	+7.2%	—	$56.3B	—
Q3 25	$6.67	$7.25	+8.7%	—	$51.2B	—
Q2 25	$5.86	$7.14	+21.8%	—	$47.5B	—
Q1 25	$5.21	$6.43	+23.4%	—	$42.3B	—
Q4 24	$6.74	$8.02	+19.0%	—	$48.4B	—
Q3 24	$5.3	$6.03	+13.8%	—	$40.6B	—
Q2 24	$4.76	$5.16	+8.4%	—	$39.1B	—
Q1 24	$4.36	$4.71	+8.0%	—	$36.5B	—
Q4 23	$4.94	$5.33	+7.9%	—	$40.1B	—
Q3 23	$3.63	$4.39	+20.9%	—	$34.1B	—
Q2 23	$2.92	$2.98	+2.1%	—	$32B	—
Q1 23	$2.03	$2.2	+8.4%	—	$28.6B	—
Q4 22	$2.22	$1.76	-20.7%	—	$32.2B	—
Q3 22	$1.89	$1.64	-13.2%	—	$27.7B	—
Q2 22	$2.59	$2.46	-5.0%	—	$28.8B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$24	—	—	$201B	—
FY24	—	$24.6	—	—	$164.5B	—
FY23	—	$15.2	—	—	$134.9B	—
FY22	—	$8.63	—	—	$116.6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$27.6B	$40.7B	$55.8B	$70.7B	$86B	$117.9B	$116.6B	$134.9B	$164.5B	$201B
YoY change	+54.2%	+47.1%	+37.4%	+26.6%	+21.6%	+37.2%	-1.12%	+15.7%	+21.9%	+22.2%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	27.6B	40.7B	55.8B	70.7B	86B	117.9B	116.6B	134.9B	164.5B	201B
Cost of revenue	3.8B	5.5B	9.4B	12.8B	16.7B	22.6B	25.2B	26B	30.2B	36.2B
Gross profit	23.8B	35.2B	46.5B	57.9B	69.3B	95.3B	91.4B	108.9B	134.3B	164.8B
Gross margin	86.3%	86.6%	83.2%	81.9%	80.6%	80.8%	78.3%	80.8%	81.7%	82%
Research & development	5.9B	7.8B	10.3B	13.6B	18.4B	24.7B	35.3B	38.5B	43.9B	57.4B
Selling, general & administrative	5.5B	7.2B	11.3B	15.3B	18.2B	23.9B	27.1B	23.7B	21.1B	24.1B
Operating expenses	11.4B	15B	21.6B	28.9B	36.6B	48.5B	62.4B	62.2B	65B	81.5B
Operating income	12.4B	20.2B	24.9B	29B	32.7B	46.8B	28.9B	46.8B	69.4B	83.3B
Operating margin	45%	49.7%	44.6%	41%	38%	39.6%	24.8%	34.7%	42.2%	41.4%
Non-operating income, net	-76M	-6M	-213M	-5.1B	-129M	-140M	-81M	-366M	-690M	1.7B
Pretax income	12.5B	20.6B	25.4B	24.8B	33.2B	47.3B	28.8B	47.4B	70.7B	85.9B
Income tax	2.3B	4.7B	3.2B	6.3B	4B	7.9B	5.6B	8.3B	8.3B	25.5B
Net income	10.2B	15.9B	22.1B	18.5B	29.1B	39.4B	23.2B	39.1B	62.4B	60.5B
Net margin	37%	39.2%	39.6%	26.1%	33.9%	33.4%	19.9%	29%	37.9%	30.1%
EBITDA	14.9B	23.6B	29.4B	39.8B	39.7B	55.4B	37.8B	59.4B	87.6B	105.4B
EPS	3.56	5.49	7.65	6.48	10.2	14	8.63	15.2	24.6	24
Diluted EPS	3.49	5.39	7.57	6.43	10.1	13.8	8.59	14.9	23.9	23.5

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	34.1B	40.1B	36.5B	39.1B	40.6B	48.4B	42.3B	47.5B	51.2B	59.9B	56.3B	60.8B
Cost of revenue	6.2B	7.7B	6.6B	7.3B	7.4B	8.8B	7.6B	8.5B	9.2B	10.9B	10.2B	11.3B
Gross profit	27.9B	32.4B	29.8B	31.8B	33.2B	39.5B	34.7B	39B	42B	49B	46.1B	49.5B
Gross margin	81.8%	80.8%	81.8%	81.3%	81.8%	81.7%	82.1%	82.1%	82%	81.8%	81.9%	81.4%
Research & development	9.2B	10.5B	10B	10.5B	11.2B	12.2B	12.2B	12.9B	15.1B	17.1B	17.7B	21.7B
Selling, general & administrative	4.9B	5.5B	6B	6.4B	4.7B	4B	5B	5.6B	6.4B	7.1B	5.5B	9B
Operating expenses	14.2B	16B	16B	16.9B	15.9B	16.2B	17.2B	18.6B	21.5B	24.2B	23.2B	30.7B
Operating income	13.7B	16.4B	13.8B	14.8B	17.4B	23.4B	17.6B	20.4B	20.5B	24.7B	22.9B	18.8B
Operating margin	40.3%	40.8%	37.9%	38%	42.7%	48.3%	41.5%	43%	40.1%	41.3%	40.6%	30.9%
Non-operating income, net	-98M	-61M	-148M	-168M	11M	-385M	409M	-147M	996M	440M	-1.3B	-95M
Pretax income	14B	16.8B	14.2B	15.1B	17.8B	23.6B	18.4B	20.5B	21.7B	25.4B	21.8B	18.8B
Income tax	2.4B	2.8B	1.8B	1.6B	2.1B	2.7B	1.7B	2.2B	19B	2.6B	-5B	2.9B
Net income	11.6B	14B	12.4B	13.5B	15.7B	20.8B	16.6B	18.3B	2.7B	22.8B	26.8B	15.8B
Net margin	33.9%	34.9%	33.9%	34.5%	38.7%	43.1%	39.3%	38.6%	5.29%	38%	47.5%	26.1%
EBITDA	17.1B	20.2B	17.8B	19B	22B	28.6B	22.3B	24.9B	26.8B	31.3B	29.6B	26B
EPS	4.5	5.46	4.86	5.31	6.2	8.24	6.59	7.28	1.08	9.02	10.6	6.23
Diluted EPS	4.39	5.33	4.71	5.16	6.03	8.02	6.43	7.14	1.05	8.88	10.4	6.18

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	329.4B	511.9B	378.9B	585.8B	778.8B	946.8B	323.4B	911.1B	1.5T	1.7T	1.8T
Enterprise value	299.9B	470.5B	338.2B	541.3B	727.5B	912.7B	309.2B	882.9B	1.5T	1.7T	1.9T
Shares outstanding	2.9B	2.9B	2.9B	2.9B	2.9B	2.8B	2.7B	2.6B	2.5B	2.5B	2.5B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	32.2	32.1	17.1	31.7	26.7	24	13.9	23.3	23.8	27.5	27.2
P/S	11.9	12.6	6.78	8.29	9.06	8.03	2.77	6.75	9.02	8.28	8.04
P/B	5.56	6.89	4.5	5.8	6.07	7.58	2.57	5.95	8.12	7.66	7.03
EV/EBITDA	20.1	19.9	11.5	13.6	18.3	16.5	8.19	14.9	16.6	15.8	17.7
EV/Sales	10.9	11.6	6.06	7.66	8.46	7.74	2.65	6.54	8.84	8.29	8.49
Earnings yield	3.1%	3.11%	5.84%	3.16%	3.74%	4.16%	7.17%	4.29%	4.2%	3.63%	3.68%
FCF yield	3.53%	3.42%	4.05%	3.62%	3.03%	4.12%	5.97%	4.84%	3.64%	2.77%	1.18%
PEG	—	—	—	—	—	—	—	—	—	—	-1.88

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	86.3%	86.6%	83.2%	81.9%	80.6%	80.8%	78.3%	80.8%	81.7%	82%	81.4%
Operating margin	45%	49.7%	44.6%	41%	38%	39.6%	24.8%	34.7%	42.2%	41.4%	34.8%
Net margin	37%	39.2%	39.6%	26.1%	33.9%	33.4%	19.9%	29%	37.9%	30.1%	29.8%
ROE	17.3%	21.4%	26.3%	18.3%	22.7%	31.5%	18.5%	25.5%	34.1%	27.8%	29.8%
ROA	15.7%	18.9%	22.7%	13.9%	18.3%	23.7%	12.5%	17%	22.6%	16.5%	14.6%
ROIC	34.1%	47.4%	49.9%	38.2%	37.3%	42.9%	20.9%	30.8%	39.8%	26.7%	23.9%
Return on tangible assets	43.2%	36%	38%	19.6%	24.3%	31.2%	16.2%	20.9%	26.8%	19.5%	16.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	12	12.9	7.19	4.4	5.05	3.15	2.2	2.67	2.98	2.6	2.23
Quick ratio	12	12.9	7.19	4.4	5.05	3.15	2.2	2.67	2.98	2.6	2.23
Debt / equity	0	0	0.01	0.1	0.08	0.11	0.21	0.24	0.27	0.39	0.43
Debt / assets	0	0	0.01	0.08	0.07	0.08	0.14	0.16	0.18	0.23	0.25
Net debt / EBITDA	-1.97	-1.75	-1.38	-1.12	-1.29	-0.62	-0.37	-0.47	-0.33	0.02	0.19
Interest coverage	1.3K	3.4K	2.8K	1.4K	—	2.1K	156.8	107.3	99.8	74.8	44.2
Effective tax rate	18.4%	22.6%	12.8%	25.5%	12.2%	16.7%	19.5%	17.6%	11.8%	29.6%	22.2%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	9.65	14	19.3	24.8	30.2	41.9	43.4	52.4	64.9	79.7	90.3
EPS (basic)	3.56	5.49	7.65	6.48	10.2	14	8.63	15.2	24.6	24	24
EPS (diluted)	3.49	5.39	7.57	6.43	10.1	13.8	8.59	14.9	23.9	23.5	26.5
Book value per share	20.7	25.6	29.1	35.4	45	44.4	46.8	59.5	72.1	86.2	102.5
FCF per share	4.06	6.03	5.31	7.43	8.27	13.9	7.18	17.1	21.3	18.3	16
Cash per share	10.3	14.4	14.2	19.2	21.7	17.1	15.2	25.4	30.7	32.4	35.4
Capex per share	1.57	2.32	4.81	5.29	5.3	6.6	11.6	10.5	14.7	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	16.2%	16.6%	24.9%	21.4%	17.6%	15.7%	26.7%	20%	22.6%	—	—
Capex / operating cash flow	29.6%	28%	49%	52.8%	38.3%	33.1%	71.2%	42.9%	40.8%	—	—
Payout ratio	—	—	—	—	—	—	0%	0%	8.13%	8.81%	7.91%
Dividend yield	—	—	—	—	—	—	0%	0%	0.34%	0.32%	0.29%

Yield

0.29%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.525

ex-dividend Sep 21, 2026

Payout ratio

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 21, 2026	$0.525
Jun 15, 2026	$0.525
Mar 16, 2026	$0.525
Dec 15, 2025	$0.525
Sep 22, 2025	$0.525
Jun 16, 2025	$0.525
Mar 14, 2025	$0.525
Dec 16, 2024	$0.50

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$34.1B	$40.1B	$36.5B	$39.1B	$40.6B	$48.4B	$42.3B	$47.5B	$51.2B	$59.9B	$56.3B	$60.8B
YoY change	+23.2%	+24.7%	+27.3%	+22.1%	+18.9%	+20.6%	+16.1%	+21.6%	+26.2%	+23.8%	+33.1%	+28%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	29.4B	41.7B	41.1B	54.9B	62B	48B	40.7B	65.4B	77.8B	81.6B
Receivables	4B	5.8B	7.6B	9.5B	11.3B	14B	13.5B	16.2B	17B	19.8B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	34.4B	48.6B	50.5B	66.2B	75.7B	66.7B	59.5B	85.4B	100B	108.7B
Property, plant & equipment	5.5B	8.8B	17.3B	33.6B	58.2B	73B	64.5B	71.9B	89.2B	141.2B
Goodwill & intangibles	41.3B	40.2B	39.2B	39.2B	39.3B	39.7B	42.4B	42.9B	43.1B	56.5B
Total assets	65B	84.5B	97.3B	133.4B	159.3B	166B	185.7B	229.6B	276.1B	366B
Accounts payable	302M	380M	820M	1.4B	1.3B	4.1B	5B	4.8B	7.7B	8.9B
Short-term debt	—	340M	500M	800M	1B	1.1B	1.4B	1.6B	1.9B	2.2B
Total current liabilities	2.9B	3.8B	7B	15.1B	15B	21.1B	27B	32B	33.6B	41.8B
Long-term debt	0	—	0	9.5B	9.6B	12.7B	25.2B	35.6B	47.1B	81.7B
Total liabilities	5.8B	10.2B	13.2B	32.3B	31B	41.1B	60B	76.5B	93.4B	148.8B
Shareholders' equity	59.2B	74.3B	84.1B	101.1B	128.3B	124.9B	125.7B	153.2B	182.6B	217.2B
Total debt	0	340M	500M	10.3B	10.7B	13.9B	26.6B	37.2B	49.1B	83.9B
Net debt	-8.9B	-7.7B	-9.5B	-8.8B	-6.9B	-2.7B	11.9B	-4.6B	5.2B	48B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	61.1B	41.9B	32.3B	32B	43.9B	43.9B	28.8B	12B	44.4B	81.6B	81.2B	90.3B
Receivables	12.9B	—	—	—	—	—	—	—	17.3B	19.8B	17.5B	21.8B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	78.4B	—	—	—	—	—	—	—	73.1B	108.7B	109.8B	125.5B
Property, plant & equipment	69.4B	—	—	—	—	—	—	—	126.9B	141.2B	159.2B	188.7B
Goodwill & intangibles	43B	21.4B	20.7B	20.7B	20.7B	21.6B	20.7B	20.7B	42.3B	56.5B	49.5B	46.8B
Total assets	216.3B	—	—	—	—	—	—	—	303.8B	366B	395.3B	450B
Accounts payable	4.4B	—	—	—	—	—	—	—	7.8B	8.9B	13.3B	15.9B
Short-term debt	1.5B	—	—	—	—	—	—	—	2.1B	2.2B	2.4B	2.4B
Total current liabilities	30.5B	—	—	—	—	—	—	—	37B	41.8B	46.8B	56.4B
Long-term debt	34.8B	—	—	—	—	—	—	—	48.9B	81.7B	84.4B	109.9B
Total liabilities	73.4B	—	—	—	—	—	—	—	109.8B	148.8B	151.6B	188.7B
Shareholders' equity	142.9B	—	—	—	—	—	—	—	194.1B	217.2B	243.7B	261.2B
Total debt	36.2B	—	—	—	—	—	—	—	51.1B	83.9B	86.8B	112.3B
Net debt	-673M	—	—	—	—	—	—	—	40.9B	48B	63.3B	96.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	10.2B	15.9B	22.1B	18.5B	29.1B	39.4B	23.2B	39.1B	62.4B	60.5B
Depreciation & amortization	2.3B	3B	4.3B	5.7B	6.9B	8B	8.7B	11.2B	15.5B	18.6B
Stock-based compensation	3.2B	3.7B	4.2B	4.8B	6.5B	9.2B	12B	14B	16.7B	20.4B
Change in working capital	-164M	1.7B	-2.4B	-445M	-2B	-895M	1.2B	-1.8B	1.4B	-1.9B
Operating cash flow	15.2B	24B	28.4B	28.6B	39.5B	56.1B	43.8B	63B	91.3B	115.8B
Capital expenditure	-4.5B	-6.7B	-13.9B	-15.1B	-15.1B	-18.6B	-31.2B	-27B	-37.3B	—
Investing cash flow	-11.8B	-20.1B	-11.6B	-19.9B	-30.1B	-7.6B	-29B	-24.5B	-47.1B	-32.3B
Dividends paid	—	—	—	—	—	—	0	0	-5.1B	-5.3B
Share repurchases	0	-2B	-12.9B	-4.2B	-6.3B	-44.5B	-28B	-19.8B	-30.1B	-26.2B
Financing cash flow	-310M	-5.2B	-15.6B	-7.3B	-10.3B	-50.7B	-22.1B	-19.5B	-40.8B	-20.4B
Net change in cash	3.1B	-1.3B	1.2B	1.4B	-872M	-2.2B	-7.3B	19B	3.4B	63.1B
Free cash flow	11.6B	17.5B	15.4B	21.2B	23.6B	39B	19.3B	44.1B	54.1B	46.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	11.6B	—	12.4B	13.5B	15.7B	20.8B	—	—	2.7B	22.8B	26.8B	15.8B
Depreciation & amortization	2.9B	—	—	—	—	—	—	—	5B	5.4B	6B	6.4B
Stock-based compensation	3.5B	—	—	—	—	—	—	—	5.6B	5.9B	6B	7.7B
Change in working capital	-174M	—	—	—	—	—	—	—	-1.6B	-2.6B	-5.1B	-4.6B
Operating cash flow	20.9B	—	12.4B	13.5B	15.7B	20.8B	—	—	30B	36.2B	32.2B	31.9B
Capital expenditure	-6.5B	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	-6.1B	—	—	—	—	—	—	—	-3B	-12.8B	-14.7B	-19.5B
Dividends paid	0	—	—	—	—	—	—	—	-1.3B	-1.3B	-1.3B	-1.4B
Share repurchases	-3.6B	—	—	—	—	—	—	—	-3.3B	0	0	0
Financing cash flow	-5.9B	—	—	—	—	—	—	—	-10B	25.1B	-6.6B	-8.9B
Net change in cash	8.9B	—	12.4B	13.5B	15.7B	20.8B	—	—	16.9B	48.6B	11B	3.4B
Free cash flow	13.9B	—	—	—	—	—	—	—	11.2B	14.8B	13.2B	1.7B

Meta Platforms Inc. Class A Common Stock Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement