What is Meta Platforms, Inc.'s earnings per share (EPS)?

Meta Platforms, Inc. (META) reported diluted earnings per share of $23.49 for fiscal year 2025. This represents a -1.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Meta Platforms, Inc. (META) Financials

Meta converts substantial operating cash, but FY2025 reinvestment intensity rose sharply, reducing cash left after capital spending.

Revenue expanded 22.2%, yet free cash flow fell 14.7%. Capital expenditures jumped 87.1%, showing investment-heavy growth is absorbing more of the business’s expansion before cash remains.

Total liabilities rose 59.0% in FY2025, while debt-to-equity reached 0.3x, showing expansion has brought more borrowing into the capital structure. The current ratio remained 2.6x, indicating short-term assets still substantially exceed near-term obligations rather than signaling dependence on immediate refinancing.

Gross margin held near 82.0% while operating margin eased to 41.4% in FY2025, indicating direct economics remained stable as additional operating costs absorbed some gross-profit gains. Operating cash flow reached $115.8B against net income of $60.5B, so reported earnings converted into cash even while free cash flow weakened under heavier capital spending.

Financial Health Signals

Financial Health Score 84/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Meta Platforms, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Meta Platforms, Inc. has an operating margin of 41.4%, meaning the company retains $41 of operating profit per $100 of revenue. This strong profitability earns a score of 92/100, reflecting efficient cost management and pricing power. This is down from 42.2% the prior year.

Growth

Meta Platforms, Inc.'s revenue surged 22.2% year-over-year to $201.0B, reflecting rapid business expansion. This strong growth earns a score of 84/100.

Leverage

Meta Platforms, Inc. carries a low D/E ratio of 0.27, meaning only $0.27 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 74/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 2.60, Meta Platforms, Inc. holds $2.60 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 72/100.

Cash Flow

Meta Platforms, Inc. converts 22.9% of revenue into free cash flow ($46.1B). This strong cash generation earns a score of 93/100.

Returns

Meta Platforms, Inc. earns a strong 27.8% return on equity (ROE), meaning it generates $28 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 91/100. This is down from 34.1% the prior year.

Altman Z-Score Safe

9.82

Meta Platforms, Inc. scores 9.82, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.9T) relative to total liabilities ($148.8B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

4/8

Meta Platforms, Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.92x

For every $1 of reported earnings, Meta Platforms, Inc. generates $1.92 in operating cash flow ($115.8B OCF vs $60.5B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

76.40x

Meta Platforms, Inc. earns $76.40 in operating income for every $1 of interest expense ($83.3B vs $1.1B). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$60.8B

YoY+28.0%

QoQ+8.0%

5Y CAGR+15.9%

10Y CAGR+25.2%

Meta Platforms, Inc. generated $60.8B in revenue in Q2 2026. This represents an increase of 28.0% from the same quarter a year earlier. Against the prior quarter it is up 8.0%.

EBITDA

$24.8B

YoY+0.2%

QoQ-14.2%

5Y CAGR+11.4%

10Y CAGR+22.3%

Meta Platforms, Inc.'s EBITDA was $24.8B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 0.2% from the same quarter a year earlier. Against the prior quarter it is down 14.2%.

Net Income

$15.8B

YoY-13.6%

QoQ-40.8%

5Y CAGR+8.8%

10Y CAGR+21.4%

Meta Platforms, Inc. reported $15.8B in net income in Q2 2026. This represents a decrease of 13.6% from the same quarter a year earlier. Against the prior quarter it is down 40.8%.

EPS (Diluted)

$6.18

YoY-13.4%

QoQ-40.8%

5Y CAGR+11.4%

10Y CAGR+23.0%

Meta Platforms, Inc. earned $6.18 per diluted share (EPS) in Q2 2026. This represents a decrease of 13.4% from the same quarter a year earlier. Against the prior quarter it is down 40.8%.

Cash & Balance Sheet

Free Cash Flow

$1.7B

YoY-80.6%

QoQ-86.8%

5Y CAGR-27.3%

10Y CAGR-4.2%

Meta Platforms, Inc. generated $1.7B in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 80.6% from the same quarter a year earlier. Against the prior quarter it is down 86.8%.

Cash & Debt

$15.5B

YoY+28.8%

QoQ-34.0%

5Y CAGR-0.9%

10Y CAGR+11.7%

Meta Platforms, Inc. held $15.5B in cash against $83.7B in long-term debt as of Q2 2026.

Dividends Per Share

$0.53

YoY0.0%

QoQ0.0%

Meta Platforms, Inc. paid $0.53 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

Diluted avg 2.57B

Meta Platforms, Inc. had a weighted average of 2.57B diluted shares in Q2 2026; the shares outstanding count is not reported for that period.

Margins & Returns

Gross Margin

81.4%

YoY-0.8pp

QoQ-0.5pp

5Y change-0.1pp

10Y change-4.4pp

Meta Platforms, Inc.'s gross margin was 81.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.5 percentage points.

Operating Margin

30.9%

YoY-12.1pp

QoQ-9.7pp

5Y change-11.6pp

10Y change-11.6pp

Meta Platforms, Inc.'s operating margin was 30.9% in Q2 2026, reflecting core business profitability. This is down 12.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 9.7 percentage points.

Net Margin

26.1%

YoY-12.5pp

QoQ-21.5pp

5Y change-9.7pp

10Y change-9.4pp

Meta Platforms, Inc.'s net profit margin was 26.1% in Q2 2026, showing the share of revenue converted to profit. This is down 12.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 21.5 percentage points.

Return on Equity

6.1%

YoY-3.3pp

QoQ-4.9pp

5Y change-1.5pp

10Y change+1.5pp

Meta Platforms, Inc.'s ROE was 6.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 3.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 4.9 percentage points.

Capital Allocation

R&D Spending

$21.7B

YoY+67.3%

QoQ+22.4%

5Y CAGR+28.9%

10Y CAGR+30.9%

Meta Platforms, Inc. invested $21.7B in research and development in Q2 2026. This represents an increase of 67.3% from the same quarter a year earlier. Against the prior quarter it is up 22.4%.

Share Buybacks

YoY-100.0%

Meta Platforms, Inc. repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.

Capital Expenditures

$30.1B

YoY+82.1%

QoQ+58.5%

5Y CAGR+45.4%

10Y CAGR+40.6%

Meta Platforms, Inc. invested $30.1B in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 82.1% from the same quarter a year earlier. Against the prior quarter it is up 58.5%.

META Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

META quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$228.2B	$201.0B+22.2%	$164.5B+21.9%	$134.9B+15.7%	$116.6B-1.1%	$117.9B+37.2%	$86.0B+21.6%	$70.7B+26.6%	$55.8B+37.4%	$40.7B+47.1%	$27.6B+54.2%	$17.9B+43.8%	$12.5B+58.4%	$7.9B+54.7%	$5.1B+37.1%	$3.7B
Cost of Revenue	$41.7B	$36.2B+19.9%	$30.2B+16.2%	$26.0B+2.8%	$25.2B+11.5%	$22.6B+35.7%	$16.7B+30.7%	$12.8B+36.5%	$9.4B+71.5%	$5.5B+43.9%	$3.8B+32.2%	$2.9B+33.2%	$2.2B+14.8%	$1.9B+37.5%	$1.4B+58.6%	$860.0M
Gross Profit	$186.6B	$164.8B+22.7%	$134.3B+23.3%	$108.9B+19.2%	$91.4B-4.1%	$95.3B+37.5%	$69.3B+19.6%	$57.9B+24.6%	$46.5B+32.1%	$35.2B+47.6%	$23.8B+58.3%	$15.1B+46.0%	$10.3B+72.0%	$6.0B+61.0%	$3.7B+30.7%	$2.9B
R&D Expenses	$71.6B	$57.4B+30.8%	$43.9B+14.0%	$38.5B+8.9%	$35.3B+43.3%	$24.7B+33.7%	$18.4B+35.6%	$13.6B+32.4%	$10.3B+32.5%	$7.8B+31.0%	$5.9B+22.9%	$4.8B+80.6%	$2.7B+88.4%	$1.4B+1.1%	$1.4B+260.6%	$388.0M
SG&A Expenses	$15.4B	$12.2B+24.8%	$9.7B-14.6%	$11.4B-3.5%	$11.8B+20.2%	$9.8B+49.7%	$6.6B-37.3%	$10.5B+203.2%	$3.5B+37.1%	$2.5B+45.4%	$1.7B+33.7%	$1.3B+33.1%	$973.0M+24.6%	$781.0M-12.4%	$892.0M+184.1%	$314.0M
Operating Income	$86.9B	$83.3B+20.0%	$69.4B+48.4%	$46.8B+61.5%	$28.9B-38.1%	$46.8B+43.1%	$32.7B+36.2%	$24.0B-3.7%	$24.9B+23.3%	$20.2B+62.6%	$12.4B+99.6%	$6.2B+24.6%	$5.0B+78.1%	$2.8B+421.2%	$538.0M-69.4%	$1.8B
EBITDA	N/A	$101.9B+20.0%	$84.9B+46.5%	$57.9B+53.9%	$37.6B-31.2%	$54.7B+38.4%	$39.5B+33.0%	$29.7B+1.7%	$29.2B+25.8%	$23.2B+57.3%	$14.8B+80.8%	$8.2B+31.0%	$6.2B+63.5%	$3.8B+221.4%	$1.2B-42.9%	$2.1B
Interest Expense	N/A	$1.1B+59.6%	$683.0M+53.1%	$446.0M+141.1%	$185.0M+704.3%	$23.0M	N/A	$20.0M+122.2%	$9.0M+50.0%	$6.0M-40.0%	$10.0M-56.5%	$23.0M0.0%	$23.0M-58.9%	$56.0M+9.8%	$51.0M+21.4%	$42.0M
Income Tax	$19.4B	$25.5B+206.8%	$8.3B-0.3%	$8.3B+48.2%	$5.6B-29.0%	$7.9B+96.2%	$4.0B-36.2%	$6.3B+94.7%	$3.2B-30.3%	$4.7B+102.5%	$2.3B-8.2%	$2.5B+27.2%	$2.0B+57.1%	$1.3B+184.4%	$441.0M-36.5%	$695.0M
Net Income	$68.1B	$60.5B-3.1%	$62.4B+59.5%	$39.1B+68.5%	$23.2B-41.1%	$39.4B+35.1%	$29.1B+57.7%	$18.5B-16.4%	$22.1B+38.8%	$15.9B+56.0%	$10.2B+177.0%	$3.7B+25.4%	$2.9B+96.0%	$1.5B+2730.2%	$53.0M-94.7%	$1.0B
EPS (Basic)	N/A	$23.98-2.6%	$24.61+62.0%	$15.19+76.0%	$8.63-38.3%	$13.99+36.9%	$10.22+57.7%	$6.48-15.3%	$7.65+39.3%	$5.49+54.2%	$3.56+171.8%	$1.31+17.0%	$1.12+80.6%	$0.62+3000.0%	$0.02-96.2%	$0.52
EPS (Diluted)	$26.54	$23.49-1.6%	$23.86+60.5%	$14.87+73.1%	$8.59-37.6%	$13.77+36.5%	$10.09+56.9%	$6.43-15.1%	$7.57+40.4%	$5.39+54.4%	$3.49+170.5%	$1.29+17.3%	$1.10+83.3%	$0.60	$0.01	$0.46
Diluted Shares (Avg)	N/A	2.57B-1.5%	2.61B-0.6%	2.63B-2.7%	2.70B-5.5%	2.86B-1.0%	2.89B+0.4%	2.88B-1.5%	2.92B-1.2%	2.96B+1.1%	2.92B+2.5%	2.85B+7.1%	2.66B+5.8%	2.52B	2.17B	1.51B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$60.8B+28.0%	$56.3B+33.1%	$59.9B+23.8%	$51.2B+26.2%	$47.5B+21.6%	$42.3B+16.1%	$48.4B+20.6%	$40.6B+18.9%
Cost of Revenue	$11.3B+33.4%	$10.2B+34.9%	$10.9B+23.4%	$9.2B+24.8%	$8.5B+16.2%	$7.6B+14.0%	$8.8B+14.8%	$7.4B+18.8%
Gross Profit	$49.5B+26.8%	$46.1B+32.7%	$49.0B+23.9%	$42.0B+26.6%	$39.0B+22.9%	$34.7B+16.5%	$39.5B+22.0%	$33.2B+18.9%
R&D Expenses	$21.7B+67.3%	$17.7B+45.7%	$17.1B+40.7%	$15.1B+35.5%	$12.9B+22.8%	$12.2B+21.8%	$12.2B+15.8%	$11.2B+21.0%
SG&A Expenses	$5.6B+110.6%	$2.6B+14.6%	$3.7B+385.2%	$3.5B+88.3%	$2.7B-27.2%	$2.3B-34.0%	$762.0M-66.7%	$1.9B-9.9%
Operating Income	$18.8B-8.2%	$22.9B+30.3%	$24.7B+5.9%	$20.5B+18.4%	$20.4B+37.7%	$17.6B+27.0%	$23.4B+42.6%	$17.4B+26.2%
EBITDA	$24.8B+0.2%	$28.9B+34.6%	$30.2B+8.3%	$25.5B+19.3%	$24.7B+34.2%	$21.5B+24.8%	$27.9B+43.8%	$21.4B+28.1%
Interest Expense	$754.0M+225.0%	N/A	N/A	N/A	$232.0M	N/A	N/A	$200.0M+51.5%
Income Tax	$2.9B+32.4%	-$5.0B-388.9%	$2.6B-4.8%	$19.0B+788.2%	$2.2B+33.9%	$1.7B-4.2%	$2.7B-2.7%	$2.1B-12.4%
Net Income	$15.8B-13.6%	$26.8B+60.9%	$22.8B+9.3%	$2.7B-82.7%	$18.3B+36.2%	$16.6B+34.6%	$20.8B+48.7%	$15.7B+35.4%
EPS (Basic)	$6.23-14.4%	$10.57+60.4%	$9.02+9.5%	$1.08-82.6%	$7.28+37.1%	$6.59+35.6%	$8.24+50.9%	$6.20+37.8%
EPS (Diluted)	$6.18-13.4%	$10.44+62.4%	$8.87+11.2%	$1.05-82.6%	$7.14+38.4%	$6.43+36.5%	$7.98+50.3%	$6.03+37.4%
Diluted Shares (Avg)	2.57B-0.2%	2.56B-1.0%	N/A	2.57B-1.1%	2.57B-1.5%	2.59B-1.3%	N/A	2.60B-1.6%

META Balance Sheet

META quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$366.0B+32.6%	$276.1B+20.2%	$229.6B+23.6%	$185.7B+11.9%	$166.0B+4.2%	$159.3B+19.4%	$133.4B+37.0%	$97.3B+15.2%	$84.5B+30.1%	$65.0B+31.5%	$49.4B+23.6%	$40.0B+123.3%	$17.9B+18.5%	$15.1B+138.6%	$6.3B
Current Assets	$108.7B+8.7%	$100.0B+17.2%	$85.4B+43.4%	$59.5B-10.7%	$66.7B-11.9%	$75.7B+14.3%	$66.2B+31.2%	$50.5B+3.9%	$48.6B+41.2%	$34.4B+58.9%	$21.7B+61.7%	$13.4B+2.4%	$13.1B+16.0%	$11.3B+144.7%	$4.6B
Cash & Equivalents	$35.9B-18.3%	$43.9B+4.8%	$41.9B+185.1%	$14.7B-11.6%	$16.6B-5.5%	$17.6B-7.9%	$19.1B+90.4%	$10.0B+24.0%	$8.1B-9.3%	$8.9B+81.4%	$4.9B+13.7%	$4.3B+29.9%	$3.3B+39.4%	$2.4B+57.7%	$1.5B
Short-Term Investments	$45.7B+34.8%	$33.9B+44.1%	$23.5B-9.7%	$26.1B-17.0%	$31.4B-29.3%	$44.4B+24.0%	$35.8B+15.1%	$31.1B-7.5%	$33.6B+63.7%	$20.5B+51.9%	$13.5B+96.5%	$6.9B-15.3%	$8.1B+12.2%	$7.2B+202.3%	$2.4B
Accounts Receivable	$19.8B+16.3%	$17.0B+5.1%	$16.2B+20.1%	$13.5B-4.1%	$14.0B+23.9%	$11.3B+19.1%	$9.5B+25.5%	$7.6B+30.1%	$5.8B+46.1%	$4.0B+56.0%	$2.6B+52.5%	$1.7B+51.3%	$1.1B+54.2%	$719.0M+31.4%	$547.0M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$24.5B+18.8%	$20.7B0.0%	$20.7B+1.7%	$20.3B+5.8%	$19.2B+0.8%	$19.1B+1.8%	$18.7B+2.3%	$18.3B+0.4%	$18.2B+0.5%	$18.1B+0.5%	$18.0B+0.3%	$18.0B+2043.1%	$839.0M+42.9%	$587.0M+615.9%	$82.0M
Total Liabilities	$148.8B+59.3%	$93.4B+22.2%	$76.5B+27.4%	$60.0B+46.0%	$41.1B+32.5%	$31.0B-4.0%	$32.3B+144.7%	$13.2B+29.8%	$10.2B+76.5%	$5.8B+11.1%	$5.2B+34.1%	$3.9B+59.6%	$2.4B-27.6%	$3.3B+133.8%	$1.4B
Current Liabilities	$41.8B+24.5%	$33.6B+5.1%	$32.0B+18.3%	$27.0B+27.9%	$21.1B+41.1%	$15.0B-0.5%	$15.1B+114.5%	$7.0B+86.6%	$3.8B+30.8%	$2.9B+49.4%	$1.9B+35.2%	$1.4B+29.5%	$1.1B+4.6%	$1.1B+17.0%	$899.0M
Non-Current Liabilities	$106.9B+78.8%	$59.8B+34.4%	$44.5B+34.9%	$33.0B+65.2%	$20.0B+24.5%	$16.0B-7.1%	$17.3B+179.0%	$6.2B-3.5%	$6.4B+121.9%	$2.9B-11.4%	$3.3B+33.4%	$2.4B+84.6%	$1.3B-42.3%	$2.3B+330.8%	$533.0M
Long-Term Debt	$58.7B+103.8%	$28.8B+56.8%	$18.4B+85.3%	$9.9B	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$1.5B	$0
Total Equity	$217.2B+18.9%	$182.6B+19.2%	$153.2B+21.8%	$125.7B+0.7%	$124.9B-2.7%	$128.3B+27.0%	$101.1B+20.1%	$84.1B+13.2%	$74.3B+25.6%	$59.2B+33.9%	$44.2B+22.5%	$36.1B+133.3%	$15.5B+31.6%	$11.8B+139.9%	$4.9B
Retained Earnings	$121.2B+18.2%	$102.5B+24.9%	$82.1B+26.7%	$64.8B-7.1%	$69.8B-9.8%	$77.3B+38.9%	$55.7B+32.7%	$42.0B+23.5%	$34.0B+56.9%	$21.7B+121.4%	$9.8B+60.5%	$6.1B+93.1%	$3.2B+90.4%	$1.7B+3.3%	$1.6B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$450.0B+52.7%	$395.3B+41.1%	$366.0B+32.6%	$303.8B+18.5%	$294.7B+28.0%	$280.2B+25.7%	$276.1B+20.2%	$256.4B+18.6%
Current Assets	$125.5B+70.5%	$109.8B+21.7%	$108.7B+8.7%	$73.1B-19.7%	$73.6B-3.7%	$90.2B+19.8%	$100.0B+17.2%	$91.1B+16.2%
Cash & Equivalents	$15.5B+28.8%	$23.4B-18.5%	$35.9B-18.3%	$10.2B-76.8%	$12.0B-62.5%	$28.8B-11.0%	$43.9B+4.8%	$43.9B+18.9%
Short-Term Investments	$74.8B+113.3%	$57.8B+39.2%	$45.7B+34.8%	$34.3B+26.7%	$35.1B+34.7%	$41.5B+60.7%	$33.9B+44.1%	$27.0B+11.6%
Accounts Receivable	$21.8B+31.3%	$17.5B+20.4%	$19.8B+16.3%	$17.3B+17.7%	$16.6B+14.2%	$14.5B+8.1%	$17.0B+5.1%	$14.7B+13.6%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$23.4B+13.3%	$24.7B+19.8%	$24.5B+18.8%	$21.2B+2.4%	$20.7B0.0%	$20.7B0.0%	$20.7B0.0%	$20.7B-0.1%
Total Liabilities	$188.7B+89.4%	$151.6B+59.2%	$148.8B+59.3%	$109.8B+19.5%	$99.7B+35.7%	$95.2B+29.8%	$93.4B+22.2%	$91.9B+25.2%
Current Liabilities	$56.4B+51.1%	$46.8B+38.0%	$41.8B+24.5%	$37.0B+10.9%	$37.3B+38.1%	$33.9B+20.6%	$33.6B+5.1%	$33.3B+9.2%
Non-Current Liabilities	$132.4B+112.2%	$104.8B+71.0%	$106.9B+78.8%	$72.8B+24.4%	$62.4B+34.2%	$61.3B+35.6%	$59.8B+34.4%	$58.5B+36.6%
Long-Term Debt	$83.7B+190.2%	$58.7B+103.8%	$58.7B+103.8%	$28.8B0.0%	$28.8B+56.8%	$28.8B+56.8%	$28.8B+56.8%	$28.8B+56.8%
Total Equity	$261.2B+33.9%	$243.7B+31.7%	$217.2B+18.9%	$194.1B+18.0%	$195.1B+24.4%	$185.0B+23.7%	$182.6B+19.2%	$164.5B+15.2%
Retained Earnings	$157.8B+48.4%	$144.6B+42.8%	$121.2B+18.2%	$101.6B+19.5%	$106.3B+31.0%	$101.3B+31.9%	$102.5B+24.9%	$85.0B+13.0%

Not reported in any period shown, so not listed: Inventory.

META Cash Flow Statement

META quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$130.3B	$115.8B+26.8%	$91.3B+28.4%	$71.1B+40.9%	$50.5B-12.5%	$57.7B+48.9%	$38.7B+6.7%	$36.3B+24.0%	$29.3B+20.9%	$24.2B+50.3%	$16.1B+56.1%	$10.3B+40.9%	$7.3B+73.5%	$4.2B+161.9%	$1.6B+4.1%	$1.5B
Depreciation & Amortization	N/A	$18.6B+20.1%	$15.5B+38.6%	$11.2B+28.7%	$8.7B+9.0%	$8.0B+16.1%	$6.9B+19.5%	$5.7B+33.0%	$4.3B+42.6%	$3.0B+29.2%	$2.3B+20.4%	$1.9B+56.5%	$1.2B+22.9%	$1.0B+55.8%	$649.0M+100.9%	$323.0M
Stock-Based Compensation	N/A	$20.4B+22.4%	$16.7B+19.0%	$14.0B+17.0%	$12.0B+30.9%	$9.2B+40.2%	$6.5B+35.2%	$4.8B+16.5%	$4.2B+11.5%	$3.7B+15.7%	$3.2B+8.7%	$3.0B+65.7%	$1.8B+97.1%	$906.0M-42.4%	$1.6B+624.4%	$217.0M
Capital Expenditures	$89.3B	$69.7B+87.1%	$37.3B+37.8%	$27.0B-13.3%	$31.2B+66.9%	$18.7B+23.3%	$15.2B+0.4%	$15.1B+8.5%	$13.9B+106.7%	$6.7B+49.9%	$4.5B+78.0%	$2.5B+37.8%	$1.8B+34.4%	$1.4B+10.3%	$1.2B+103.8%	$606.0M
Free Cash Flow	$41.0B	$46.1B-14.7%	$54.1B+22.7%	$44.1B+128.5%	$19.3B-50.5%	$39.0B+65.3%	$23.6B+11.2%	$21.2B+38.1%	$15.4B-12.1%	$17.5B+50.5%	$11.6B+49.0%	$7.8B+41.9%	$5.5B+92.1%	$2.9B+658.6%	$377.0M-60.0%	$943.0M
Investing Cash Flow	-$139.4B	-$102.0B-116.3%	-$47.1B-92.5%	-$24.5B+15.4%	-$29.0B-282.7%	-$7.6B+74.8%	-$30.1B-51.3%	-$19.9B-71.2%	-$11.6B+42.3%	-$20.1B-70.6%	-$11.8B-25.0%	-$9.4B-59.5%	-$5.9B-125.3%	-$2.6B+62.6%	-$7.0B-132.4%	-$3.0B
Financing Cash Flow	$24.5B	-$20.4B+50.1%	-$40.8B-109.1%	-$19.5B+11.9%	-$22.1B+56.4%	-$50.7B-392.9%	-$10.3B-41.0%	-$7.3B+53.1%	-$15.6B-197.5%	-$5.2B-1588.7%	-$310.0M-123.0%	-$139.0M+53.4%	-$298.0M+55.3%	-$667.0M-110.6%	$6.3B+424.5%	$1.2B
Dividends Paid	$5.4B	$5.3B+5.0%	$5.1B	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$3.3B	$26.2B-12.9%	$30.1B+52.3%	$19.8B-29.3%	$28.0B-37.2%	$44.5B+610.1%	$6.3B+49.3%	$4.2B-67.4%	$12.9B+551.8%	$2.0B	$0	$0	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$31.9B+24.7%	$32.2B+34.1%	$36.2B+29.4%	$30.0B+21.3%	$25.6B+32.0%	$24.0B+24.8%	$28.0B+44.2%	$24.7B+21.2%
Depreciation & Amortization	$6.0B+40.2%	$6.0B+53.8%	$5.4B+21.3%	$5.0B+23.5%	$4.3B+19.6%	$3.9B+15.6%	$4.5B+40.6%	$4.0B+36.7%
Stock-Based Compensation	$7.6B+57.2%	$6.0B+45.5%	N/A	$5.6B+30.7%	$4.8B+4.7%	$4.1B+16.4%	N/A	$4.3B+21.7%
Capital Expenditures	$30.1B+82.1%	$19.0B+46.8%	$21.4B+48.2%	$18.8B+128.0%	$16.5B+102.3%	$12.9B+102.2%	$14.4B+90.0%	$8.3B+27.1%
Free Cash Flow	$1.7B-80.6%	$13.2B+19.3%	$14.8B+9.3%	$11.2B-32.2%	$9.0B-19.4%	$11.1B-13.7%	$13.6B+14.8%	$16.5B+18.4%
Investing Cash Flow	-$49.7B-91.3%	-$33.7B-68.3%	-$34.2B-59.0%	-$21.8B-153.5%	-$26.0B-212.8%	-$20.0B-129.1%	-$21.5B-232.2%	-$8.6B-41.8%
Financing Cash Flow	$16.0B+199.9%	-$6.6B+66.4%	$25.1B+560.2%	-$10.0B-129.9%	-$16.0B-42.9%	-$19.5B+1.4%	-$5.5B+34.9%	-$4.4B+25.6%
Dividends Paid	$1.4B+2.0%	$1.3B+1.3%	$1.3B+4.8%	$1.3B+5.3%	$1.3B+4.8%	$1.3B+4.4%	$1.3B	$1.3B
Share Buybacks	$0-100.0%	$0-100.0%	$0	$3.3B-62.3%	$10.2B+61.4%	$12.8B-15.0%	$0-100.0%	$8.8B+147.1%

META Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

META quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	82.0%+0.3pp	81.7%+0.9pp	80.8%+2.4pp	78.3%-2.4pp	80.8%+0.2pp	80.6%-1.4pp	81.9%-1.3pp	83.3%-3.3pp	86.6%+0.3pp	86.3%+2.3pp	84.0%+1.3pp	82.7%+6.6pp	76.2%+3.0pp	73.2%-3.6pp	76.8%
Operating Margin	41.4%-0.7pp	42.2%+7.5pp	34.7%+9.8pp	24.8%-14.8pp	39.6%+1.6pp	38.0%+4.1pp	33.9%-10.7pp	44.6%-5.1pp	49.7%+4.7pp	45.0%+10.2pp	34.7%-5.3pp	40.1%+4.4pp	35.6%+25.1pp	10.6%-36.8pp	47.3%
Net Margin	30.1%-7.8pp	37.9%+8.9pp	29.0%+9.1pp	19.9%-13.5pp	33.4%-0.5pp	33.9%+7.8pp	26.2%-13.5pp	39.6%+0.4pp	39.2%+2.2pp	37.0%+16.4pp	20.6%-3.0pp	23.6%+4.5pp	19.1%+18.0pp	1.0%-25.9pp	27.0%
Return on Equity	27.8%-6.3pp	34.1%+8.6pp	25.5%+7.1pp	18.4%-13.1pp	31.5%+8.8pp	22.7%+4.4pp	18.3%-8.0pp	26.3%+4.8pp	21.4%+4.2pp	17.3%+8.9pp	8.3%+0.2pp	8.1%-1.6pp	9.7%+9.3pp	0.4%-20.0pp	20.4%
Return on Assets	16.5%-6.1pp	22.6%+5.6pp	17.0%+4.5pp	12.5%-11.2pp	23.7%+5.4pp	18.3%+4.4pp	13.9%-8.9pp	22.7%+3.9pp	18.9%+3.1pp	15.7%+8.3pp	7.5%+0.1pp	7.4%-1.0pp	8.4%+8.0pp	0.4%-15.4pp	15.8%
Current Ratio	2.60-0.4x	2.98+0.3x	2.67+0.5x	2.20-1.0x	3.15-1.9x	5.05+0.7x	4.40-2.8x	7.19-5.7x	12.92+1.0x	11.97+0.7x	11.25+1.8x	9.40-2.5x	11.88+1.2x	10.71+5.6x	5.12
Debt-to-Equity	0.27+0.1x	0.160.0x	0.120.0x	0.08+0.1x	0.00-0.2x	0.24-0.1x	0.32+0.2x	0.160.0x	0.140.0x	0.100.0x	0.120.0x	0.11+0.1x	0.00-0.1x	0.13+0.1x	0.00
Asset Turnover	0.550.0x	0.600.0x	0.590.0x	0.63-0.1x	0.71+0.2x	0.540.0x	0.530.0x	0.57+0.1x	0.48+0.1x	0.43+0.1x	0.36+0.1x	0.31-0.1x	0.44+0.1x	0.34-0.2x	0.59
FCF Margin	22.9%-9.9pp	32.9%+0.2pp	32.7%+16.1pp	16.5%-16.5pp	33.1%+5.6pp	27.4%-2.6pp	30.0%+2.5pp	27.5%-15.5pp	43.0%+1.0pp	42.0%-1.5pp	43.5%-0.6pp	44.1%+7.8pp	36.3%+28.9pp	7.4%-18.0pp	25.4%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	81.4%-0.8pp	81.8%-0.3pp	81.8%+0.1pp	82.0%+0.2pp	82.1%+0.8pp	82.1%+0.3pp	81.7%+0.9pp	81.8%0.0pp
Operating Margin	30.9%-12.1pp	40.6%-0.9pp	41.3%-7.0pp	40.1%-2.7pp	43.0%+5.0pp	41.5%+3.6pp	48.3%+7.4pp	42.8%+2.5pp
Net Margin	26.1%-12.5pp	47.5%+8.2pp	38.0%-5.1pp	5.3%-33.4pp	38.6%+4.1pp	39.3%+5.4pp	43.1%+8.1pp	38.6%+4.7pp
Return on Equity	6.1%-3.3pp	11.0%+2.0pp	10.5%-0.9pp	1.4%-8.1pp	9.4%+0.8pp	9.0%+0.7pp	11.4%+2.3pp	9.5%+1.4pp
Return on Assets	3.5%-2.7pp	6.8%+0.8pp	6.2%-1.3pp	0.9%-5.2pp	6.2%+0.4pp	5.9%+0.4pp	7.5%+1.4pp	6.1%+0.8pp
Current Ratio	2.23+0.3x	2.35-0.3x	2.60-0.4x	1.98-0.8x	1.97-0.9x	2.660.0x	2.98+0.3x	2.73+0.2x
Debt-to-Equity	0.32+0.2x	0.24+0.1x	0.27+0.1x	0.150.0x	0.150.0x	0.160.0x	0.160.0x	0.180.0x
Asset Turnover	0.140.0x	0.140.0x	0.160.0x	0.170.0x	0.160.0x	0.150.0x	0.180.0x	0.160.0x
FCF Margin	2.9%-16.1pp	23.5%-2.7pp	24.8%-3.3pp	21.8%-18.8pp	19.0%-9.7pp	26.2%-9.0pp	28.0%-1.4pp	40.6%-0.2pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Meta Platforms, Inc. META	FY2025	$201.0B	$60.5B	30.1%	$1.9T	84/100
Alphabet Inc. GOOG	FY2025	$402.8B	$132.2B	32.8%	$4.3T	82/100
Alphabet Inc. GOOGL	FY2025	$402.8B	$132.2B	32.8%	$4.3T	82/100
Snap Inc. SNAP	FY2025	$5.9B	-$460.5M	-7.8%	$11.0B	50/100
Baidu, Inc. BIDU	FY2025	$18.5B	$799.0M	4.3%	$28.5B	34/100

Where Meta Platforms, Inc. Ranks

Frequently Asked Questions

What is Meta Platforms, Inc.'s annual revenue?

Meta Platforms, Inc. (META) reported $201.0B in total revenue for fiscal year 2025. This represents a 22.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Meta Platforms, Inc.'s revenue growing?

Meta Platforms, Inc. (META) revenue grew by 22.2% year-over-year, from $164.5B to $201.0B in fiscal year 2025.

Is Meta Platforms, Inc. profitable?

Yes, Meta Platforms, Inc. (META) reported a net income of $60.5B in fiscal year 2025, with a net profit margin of 30.1%.

What is Meta Platforms, Inc.'s EBITDA?

Meta Platforms, Inc. (META) had EBITDA of $101.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Meta Platforms, Inc. have?

As of fiscal year 2025, Meta Platforms, Inc. (META) had $35.9B in cash and equivalents against $58.7B in long-term debt.

What is Meta Platforms, Inc.'s gross margin?

Meta Platforms, Inc. (META) had a gross margin of 82.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Meta Platforms, Inc.'s operating margin?

Meta Platforms, Inc. (META) had an operating margin of 41.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Meta Platforms, Inc.'s net profit margin?

Meta Platforms, Inc. (META) had a net profit margin of 30.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Meta Platforms, Inc. pay dividends?

Yes, Meta Platforms, Inc. (META) paid $2.10 per share in dividends during fiscal year 2025.

What is Meta Platforms, Inc.'s return on equity (ROE)?

Meta Platforms, Inc. (META) has a return on equity of 27.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Meta Platforms, Inc.'s free cash flow?

Meta Platforms, Inc. (META) generated $46.1B in free cash flow during fiscal year 2025. This represents a -14.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Meta Platforms, Inc.'s operating cash flow?

Meta Platforms, Inc. (META) generated $115.8B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Meta Platforms, Inc.'s total assets?

Meta Platforms, Inc. (META) had $366.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Meta Platforms, Inc.'s capital expenditures?

Meta Platforms, Inc. (META) invested $69.7B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Meta Platforms, Inc. spend on research and development?

Meta Platforms, Inc. (META) invested $57.4B in research and development during fiscal year 2025.

Does Meta Platforms, Inc. buy back shares?

Yes, Meta Platforms, Inc. (META) spent $26.2B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Meta Platforms, Inc.'s current ratio?

Meta Platforms, Inc. (META) had a current ratio of 2.60 as of fiscal year 2025, which is generally considered healthy.

What is Meta Platforms, Inc.'s debt-to-equity ratio?

Meta Platforms, Inc. (META) had a debt-to-equity ratio of 0.27 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Meta Platforms, Inc.'s return on assets (ROA)?

Meta Platforms, Inc. (META) had a return on assets of 16.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Meta Platforms, Inc.'s P/E ratio?

Meta Platforms, Inc. (META) trades at 28.5x earnings, its market capitalization divided by net income of $68.1B net income, trailing 12 months to June 30, 2026. The market capitalization is $1.9T as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Meta Platforms, Inc.'s price-to-sales ratio?

Meta Platforms, Inc. (META) trades at 8.5x sales, its market capitalization divided by revenue of $228.2B revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.9T as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Meta Platforms, Inc.'s Altman Z-Score?

Meta Platforms, Inc. (META) has an Altman Z-Score of 9.82, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Meta Platforms, Inc.'s Piotroski F-Score?

Meta Platforms, Inc. (META) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Meta Platforms, Inc.'s earnings high quality?

Meta Platforms, Inc. (META) has an earnings quality ratio of 1.92x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Meta Platforms, Inc. cover its interest payments?

Meta Platforms, Inc. (META) has an interest coverage ratio of 76.40x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Meta Platforms, Inc.?

Meta Platforms, Inc. (META) scores 84 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.