META · Meta Platforms, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $200.97B | $164.50B | $134.90B | $116.61B | $117.93B | $85.97B |
| Cost of Revenue | $36.17B | $30.16B | $25.96B | $25.25B | $22.65B | $16.69B |
| Gross Profit | $164.79B | $134.34B | $108.94B | $91.36B | $95.28B | $69.27B |
| R&D | $57.37B | $43.87B | $38.48B | $35.34B | $24.66B | $18.45B |
| SG&A | $12.15B | $9.74B | $11.41B | $11.82B | $9.83B | $6.56B |
| Total Operating Expenses | $117.69B | $95.12B | $88.15B | $87.67B | $71.18B | $53.29B |
| D&A | $18.62B | $15.50B | $11.18B | $8.69B | $7.97B | $6.86B |
| Operating Income | $83.28B | $69.38B | $46.75B | $28.94B | $46.75B | $32.67B |
| Interest Expense | $1.09B | $683.00M | $23.00M | - | - | - |
| Income Tax | $25.47B | $8.30B | $8.33B | $5.62B | $7.91B | $4.03B |
| Net Income | $60.46B | $62.36B | $39.10B | $23.20B | $39.37B | $29.15B |
| EPS - Basic | $23.98 | $24.61 | $15.19 | $8.63 | $13.99 | $10.22 |
| EPS - Diluted | $23.49 | $23.86 | $14.87 | $8.59 | $13.77 | $10.09 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $35.87B | $43.89B | $41.86B | $14.68B | $16.60B | $17.58B |
| Accounts Receivable | $19.77B | $16.99B | $16.17B | $13.47B | $14.04B | $11.34B |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $8.89B | $7.69B | $4.85B | $4.99B | $4.08B | $1.33B |
| Current Assets | $108.72B | $100.05B | $85.36B | $59.55B | $66.67B | $75.67B |
| Total Assets | $366.02B | $276.05B | $229.62B | $185.73B | $165.99B | $159.32B |
| Current Liabilities | $41.84B | $33.60B | $31.96B | $27.03B | $21.14B | $14.98B |
| Long-term Debt | $58.74B | $28.83B | $18.39B | $9.92B | - | - |
| Total Liabilities | $148.78B | $93.42B | $76.45B | $60.01B | $41.11B | $31.03B |
| Stockholders' Equity | $217.24B | $182.64B | $153.17B | $125.71B | $124.88B | $128.29B |
| Retained Earnings | $121.18B | $102.51B | $82.07B | $64.80B | $69.76B | $77.34B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $115.80B | $91.33B | $71.11B | $50.48B | $57.68B | $38.75B |
| Investing Cash Flow | ($102.00B) | ($47.15B) | ($24.50B) | ($28.97B) | ($7.57B) | ($30.06B) |
| Financing Cash Flow | ($20.37B) | ($40.78B) | ($19.50B) | ($22.14B) | ($50.73B) | ($10.29B) |
| CapEx | $69.69B | $37.26B | $27.27B | $31.43B | $18.57B | $15.12B |
| Free Cash Flow | $46.11B | $54.07B | $43.85B | $19.04B | $39.12B | $23.63B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 82.0% | 81.7% | 80.8% | 78.3% | 80.8% | 80.6% |
| Operating margin | 41.4% | 42.2% | 34.7% | 24.8% | 39.6% | 38.0% |
| EBITDA margin | 50.7% | 51.6% | 42.9% | 32.3% | 46.4% | 46.0% |
| Net margin | 30.1% | 37.9% | 29.0% | 19.9% | 33.4% | 33.9% |
| Free cash flow margin | 22.9% | 32.9% | 32.5% | 16.3% | 33.2% | 27.5% |
| FCF / Net income | 0.76 | 0.87 | 1.12 | 0.82 | 0.99 | 0.81 |
| R&D / Revenue | 28.5% | 26.7% | 28.5% | 30.3% | 20.9% | 21.5% |
| SG&A / Revenue | 6.0% | 5.9% | 8.5% | 10.1% | 8.3% | 7.6% |
| Effective tax rate | 29.6% | 11.8% | 17.6% | 19.5% | 16.7% | 12.2% |
| Return on assets | 16.5% | 22.6% | 17.0% | 12.5% | 23.7% | 18.3% |
| Return on equity | 27.8% | 34.1% | 25.5% | 18.5% | 31.5% | 22.7% |
| Return on invested capital | 21.2% | 29.0% | 22.5% | 17.2% | - | - |
| Liquidity | ||||||
| Current ratio | 2.60 | 2.98 | 2.67 | 2.20 | 3.15 | 5.05 |
| Quick ratio | 2.60 | 2.98 | 2.67 | 2.20 | 3.15 | 5.05 |
| Cash ratio | 0.86 | 1.31 | 1.31 | 0.54 | 0.79 | 1.17 |
| Leverage | ||||||
| Debt / Equity | 0.27 | 0.16 | 0.12 | 0.08 | - | - |
| Debt / Assets | 0.16 | 0.10 | 0.08 | 0.05 | - | - |
| Debt / EBITDA | 0.58 | 0.34 | 0.32 | 0.26 | - | - |
| Interest coverage | 76.4x | 101.6x | 2032.7x | - | - | - |
| Equity multiplier | 1.68 | 1.51 | 1.50 | 1.48 | 1.33 | 1.24 |
| Liabilities / Assets | 0.41 | 0.34 | 0.33 | 0.32 | 0.25 | 0.19 |
| Efficiency | ||||||
| Asset turnover | 0.55 | 0.60 | 0.59 | 0.63 | 0.71 | 0.54 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 36d | 38d | 44d | 42d | 43d | 48d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 90d | 93d | 68d | 72d | 66d | 29d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 28.1x | 24.5x | 23.8x | 14.0x | 24.4x | 27.1x |
| P / B | 7.8x | 8.4x | 6.1x | 2.6x | 7.7x | 6.1x |
| P / S | 8.5x | 9.3x | 6.9x | 2.8x | 8.2x | 9.2x |
| EV / EBITDA | 16.9x | 17.9x | 15.7x | 8.5x | 17.3x | 19.5x |
| Growth | ||||||
| Revenue growth (YoY) | 22.2% | 21.9% | 15.7% | -1.1% | 37.2% | 21.6% |
| Revenue CAGR (3y) | 19.9% | 11.7% | 16.2% | 18.2% | 62.2% | 28.4% |
| Revenue CAGR (5y) | 18.5% | 18.4% | 37.3% | 23.5% | 33.7% | 36.8% |
| Gross profit growth (YoY) | 22.7% | 23.3% | 19.2% | -4.1% | 37.5% | 19.6% |
| Operating income growth (YoY) | 20.0% | 48.4% | 61.5% | -38.1% | 43.1% | 36.2% |
| Net income growth (YoY) | -3.1% | 59.5% | 68.5% | -41.1% | 35.1% | 57.7% |
| EPS growth (YoY) | -1.6% | 60.5% | 73.1% | -37.6% | 36.5% | 56.9% |
| EPS CAGR (3y) | 39.8% | 20.1% | 13.8% | 10.1% | 22.1% | 23.2% |
| EPS CAGR (5y) | 18.4% | 30.0% | 14.5% | 9.8% | 31.6% | 50.9% |
| FCF growth (YoY) | -14.7% | 23.3% | 130.2% | -51.3% | 65.5% | 11.4% |
| FCF CAGR (5y) | 14.3% | 20.6% | 23.3% | 1.7% | 27.5% | 31.2% |
| Book value growth (YoY) | 18.9% | 19.2% | 21.8% | 0.7% | -2.7% | 27.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$200.97B totalFamily Of Apps$198.76B · 98.9%
Reality Labs$2.21B · 1.1%
Product / service
$198.76B totalAdvertising$196.18B · 98.7%
Service Other$2.58B · 1.3%
Geographic
$275.75B totalUSCanada$78.87B · 28.6%
US$74.78B · 27.1%
Asia Pacific$53.82B · 19.5%
Europe$46.57B · 16.9%
Rest Of World$21.71B · 7.9%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.28
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Services-Computer Programming, Data Processing, Etc.
Comparing Meta Platforms against the 5 most active filers in the same SIC group.
Dividends
$2.10/share trailing 12 months · +3.7% YoY
| Ex-date | Per share |
|---|---|
| Mar 16, 2026 | $0.5250 |
| Dec 15, 2025 | $0.5250 |
| Sep 22, 2025 | $0.5250 |
| Jun 16, 2025 | $0.5250 |
| Mar 14, 2025 | $0.5250 |
| Dec 16, 2024 | $0.5000 |
| Sep 16, 2024 | $0.5000 |
| Jun 14, 2024 | $0.5000 |
| Feb 21, 2024 | $0.5000 |