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Meta Platforms Inc Financials

META
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Meta Platforms Inc (META) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 79 / 100
Financial Profile 79/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
100

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 100/100, reflecting efficient cost management and pricing power. This is down from 42.2% the prior year.

Growth
70

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 70/100.

Leverage
97

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 97/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
49

Meta Platforms Inc's current ratio of 2.60 indicates adequate short-term liquidity, earning a score of 49/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
82

Meta Platforms Inc converts 22.9% of revenue into free cash flow ($46.1B). This strong cash generation earns a score of 82/100.

Returns
73

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 73/100. This is down from 34.1% the prior year.

Altman Z-Score Safe
7.84

Meta Platforms Inc scores 7.84, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.5T) relative to total liabilities ($148.8B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
4/9

Meta Platforms Inc passes 4 of 9 financial strength tests. 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
76.4x

Meta Platforms Inc earns $76.4 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
$201.0B
YoY+22.2%
5Y CAGR+18.5%
10Y CAGR+27.3%

Meta Platforms Inc generated $201.0B in revenue in fiscal year 2025. This represents an increase of 22.2% from the prior year.

EBITDA
$101.9B
YoY+20.0%
5Y CAGR+20.8%
10Y CAGR+28.7%

Meta Platforms Inc's EBITDA was $101.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 20.0% from the prior year.

Net Income
$60.5B
YoY-3.1%
5Y CAGR+15.7%
10Y CAGR+32.3%

Meta Platforms Inc reported $60.5B in net income in fiscal year 2025. This represents a decrease of 3.1% from the prior year.

EPS (Diluted)
$23.49
YoY-1.6%
5Y CAGR+18.4%
10Y CAGR+33.7%

Meta Platforms Inc earned $23.49 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 1.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$46.1B
YoY-14.7%
5Y CAGR+14.3%
10Y CAGR+19.4%

Meta Platforms Inc generated $46.1B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 14.7% from the prior year.

Cash & Debt
$35.9B
YoY-18.3%
5Y CAGR+15.3%
10Y CAGR+22.0%

Meta Platforms Inc held $35.9B in cash against $58.7B in long-term debt as of fiscal year 2025.

Dividends Per Share
$2.10
YoY+5.0%

Meta Platforms Inc paid $2.10 per share in dividends in fiscal year 2025. This represents an increase of 5.0% from the prior year.

Shares Outstanding
N/A

Margins & Returns

Gross Margin
82.0%
YoY+0.3pp
5Y CAGR+1.4pp
10Y CAGR-2.0pp

Meta Platforms Inc's gross margin was 82.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.3 percentage points from the prior year.

Operating Margin
41.4%
YoY-0.7pp
5Y CAGR+3.4pp
10Y CAGR+6.7pp

Meta Platforms Inc's operating margin was 41.4% in fiscal year 2025, reflecting core business profitability. This is down 0.7 percentage points from the prior year.

Net Margin
30.1%
YoY-7.8pp
5Y CAGR-3.8pp
10Y CAGR+9.5pp

Meta Platforms Inc's net profit margin was 30.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 7.8 percentage points from the prior year.

Return on Equity
27.8%
YoY-6.3pp
5Y CAGR+5.1pp
10Y CAGR+19.5pp

Meta Platforms Inc's ROE was 27.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 6.3 percentage points from the prior year.

Capital Allocation

R&D Spending
$57.4B
YoY+30.8%
5Y CAGR+25.5%
10Y CAGR+28.1%

Meta Platforms Inc invested $57.4B in research and development in fiscal year 2025. This represents an increase of 30.8% from the prior year.

Share Buybacks
$26.2B
YoY-12.9%
5Y CAGR+33.1%

Meta Platforms Inc spent $26.2B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 12.9% from the prior year.

Capital Expenditures
$69.7B
YoY+87.1%
5Y CAGR+35.7%
10Y CAGR+39.4%

Meta Platforms Inc invested $69.7B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 87.1% from the prior year.

META Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $59.9B+16.9% $51.2B+7.8% $47.5B+12.3% $42.3B-12.5% $48.4B+19.2% $40.6B+3.9% $39.1B+7.2% $36.5B
Cost of Revenue $10.9B+18.5% $9.2B+8.4% $8.5B+12.1% $7.6B-14.3% $8.8B+19.8% $7.4B+0.9% $7.3B+10.1% $6.6B
Gross Profit $49.0B+16.5% $42.0B+7.7% $39.0B+12.3% $34.7B-12.2% $39.5B+19.1% $33.2B+4.6% $31.8B+6.5% $29.8B
R&D Expenses $17.1B+13.2% $15.1B+17.0% $12.9B+6.5% $12.2B-0.3% $12.2B+9.0% $11.2B+6.1% $10.5B+5.6% $10.0B
SG&A Expenses $3.7B+5.3% $3.5B+31.9% $2.7B+16.8% $2.3B+199.2% $762.0M-59.1% $1.9B-49.0% $3.7B+5.9% $3.5B
Operating Income $24.7B+20.5% $20.5B+0.5% $20.4B+16.4% $17.6B-24.9% $23.4B+34.7% $17.4B+16.9% $14.8B+7.4% $13.8B
Interest Expense N/A N/A N/A N/A N/A $200.0M N/A N/A
Income Tax $2.6B-86.4% $19.0B+762.7% $2.2B+26.4% $1.7B-36.0% $2.7B+27.2% $2.1B+30.0% $1.6B-9.5% $1.8B
Net Income $22.8B+740.5% $2.7B-85.2% $18.3B+10.2% $16.6B-20.1% $20.8B+32.8% $15.7B+16.5% $13.5B+8.9% $12.4B
EPS (Diluted) N/A $1.05-85.3% $7.14+11.0% $6.43 N/A $6.03+16.9% $5.16+9.6% $4.71

META Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $366.0B+20.5% $303.8B+3.1% $294.7B+5.2% $280.2B+1.5% $276.1B+7.7% $256.4B+11.4% $230.2B+3.3% $222.8B
Current Assets $108.7B+48.7% $73.1B-0.7% $73.6B-18.4% $90.2B-9.8% $100.0B+9.9% $91.1B+19.1% $76.4B+1.5% $75.3B
Cash & Equivalents $35.9B+252.1% $10.2B-15.1% $12.0B-58.2% $28.8B-34.5% $43.9B+0.1% $43.9B+36.8% $32.0B-0.8% $32.3B
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $19.8B+14.3% $17.3B+4.4% $16.6B+14.1% $14.5B-14.6% $17.0B+15.6% $14.7B+1.3% $14.5B+8.0% $13.4B
Goodwill $24.5B+16.0% $21.2B+2.4% $20.7B0.0% $20.7B0.0% $20.7B0.0% $20.7B0.0% $20.7B0.0% $20.7B
Total Liabilities $148.8B+35.5% $109.8B+10.1% $99.7B+4.7% $95.2B+1.9% $93.4B+1.7% $91.9B+25.0% $73.5B+0.2% $73.3B
Current Liabilities $41.8B+13.2% $37.0B-0.9% $37.3B+10.1% $33.9B+0.9% $33.6B+0.8% $33.3B+23.4% $27.0B-3.9% $28.1B
Long-Term Debt $58.7B+103.7% $28.8B0.0% $28.8B0.0% $28.8B0.0% $28.8B0.0% $28.8B+56.7% $18.4B0.0% $18.4B
Total Equity $217.2B+11.9% $194.1B-0.5% $195.1B+5.4% $185.0B+1.3% $182.6B+11.0% $164.5B+5.0% $156.8B+4.8% $149.5B
Retained Earnings $121.2B+19.3% $101.6B-4.5% $106.3B+5.0% $101.3B-1.2% $102.5B+20.6% $85.0B+4.7% $81.2B+5.7% $76.8B

META Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $36.2B+20.7% $30.0B+17.4% $25.6B+6.4% $24.0B-14.2% $28.0B+13.2% $24.7B+27.6% $19.4B+0.6% $19.2B
Capital Expenditures $21.4B+13.6% $18.8B+13.9% $16.5B+27.8% $12.9B-10.3% $14.4B+74.7% $8.3B+1.0% $8.2B+27.7% $6.4B
Free Cash Flow $14.8B+32.8% $11.2B+23.8% $9.0B-18.6% $11.1B-18.3% $13.6B-17.6% $16.5B+47.1% $11.2B-12.8% $12.8B
Investing Cash Flow -$34.2B-56.5% -$21.8B+15.8% -$26.0B-29.7% -$20.0B+6.9% -$21.5B-149.4% -$8.6B-3.9% -$8.3B+5.0% -$8.7B
Financing Cash Flow $25.1B+350.3% -$10.0B+37.1% -$16.0B+18.0% -$19.5B-256.7% -$5.5B-25.0% -$4.4B+60.9% -$11.2B+43.5% -$19.8B
Dividends Paid $1.3B-0.2% $1.3B+0.2% $1.3B-0.2% $1.3B+4.9% $1.3B+0.3% $1.3B-0.2% $1.3B-0.5% $1.3B
Share Buybacks $0-100.0% $3.3B-67.3% $10.2B-20.3% $12.8B $0-100.0% $8.8B+40.0% $6.3B-58.0% $15.0B

META Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 81.8%-0.2pp 82.0%-0.1pp 82.1%+0.0pp 82.1%+0.4pp 81.7%-0.1pp 81.8%+0.5pp 81.3%-0.5pp 81.8%
Operating Margin 41.3%+1.2pp 40.1%-3.0pp 43.0%+1.5pp 41.5%-6.8pp 48.3%+5.5pp 42.8%+4.7pp 38.0%+0.1pp 37.9%
Net Margin 38.0%+32.7pp 5.3%-33.3pp 38.6%-0.7pp 39.3%-3.7pp 43.1%+4.4pp 38.6%+4.2pp 34.5%+0.5pp 33.9%
Return on Equity 10.5%+9.1pp 1.4%-8.0pp 9.4%+0.4pp 9.0%-2.4pp 11.4%+1.9pp 9.5%+0.9pp 8.6%+0.3pp 8.3%
Return on Assets 6.2%+5.3pp 0.9%-5.3pp 6.2%+0.3pp 5.9%-1.6pp 7.5%+1.4pp 6.1%+0.3pp 5.9%+0.3pp 5.5%
Current Ratio 2.60+0.6 1.980.0 1.97-0.7 2.66-0.3 2.98+0.2 2.73-0.1 2.83+0.1 2.68
Debt-to-Equity 0.27+0.1 0.150.0 0.150.0 0.160.0 0.16-0.0 0.18+0.1 0.120.0 0.12
FCF Margin 24.8%+3.0pp 21.8%+2.8pp 19.0%-7.2pp 26.2%-1.8pp 28.0%-12.5pp 40.6%+11.9pp 28.7%-6.6pp 35.2%

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Frequently Asked Questions

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.

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

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

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

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

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.

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.

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.

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

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.

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.

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

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

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

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

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

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

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.

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.

Meta Platforms Inc (META) has an Altman Z-Score of 7.84, 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.

Meta Platforms Inc (META) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

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.

Meta Platforms Inc (META) has an interest coverage ratio of 76.4x, 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.

Meta Platforms Inc (META) scores 79 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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