Meta Platforms, Inc. META
Our mission is to build the future of human connection and the technology that makes it possible.
Our products enable people to connect and share through mobile devices, personal computers, virtual reality (VR) headsets, and AI glasses. We are innovating in artificial intelligence (AI) technologies to build transformative experiences and capabilities across our Family of Apps and new platforms, and to advance our vision to deliver personal superintelligence for everyone.
We build technology that helps people connect and share, find and build communities, and grow businesses. We also help people discover and learn about what is going on in the world around them, enable people to share their experiences, ideas, photos, videos, and other content with audiences ranging from their closest family members and friends to the public at large, and stay connected everywhere by accessing our products. Meta is moving our offerings beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next computing platform. Our vision does not center on any single product, but rather an entire ecosystem of experiences, devices, and new technologies powered by AI. While the metaverse is in the very early stages of its development, we believe it will become the next computing platform and the future of social interaction.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $200.97B | $164.50B | $134.90B | $116.61B | $117.93B | $85.97B | $70.70B | $55.84B | $40.65B | $27.64B |
| Cost of revenue | $36.17B | $30.16B | $25.96B | $25.25B | $22.65B | $16.69B | $12.77B | $9.36B | $5.45B | $3.79B |
| Gross profit | $164.79B | $134.34B | $108.94B | $91.36B | $95.28B | $69.27B | $57.93B | $46.48B | $35.20B | $23.85B |
| R&D | $57.37B | $43.87B | $38.48B | $35.34B | $24.66B | $18.45B | $13.60B | $10.27B | $7.75B | $5.92B |
| SG&A | $12.15B | $9.74B | $11.41B | $11.82B | $9.83B | $6.56B | $10.46B | $3.45B | $2.52B | $1.73B |
| Total operating expenses | $117.69B | $95.12B | $88.15B | $87.67B | $71.18B | $53.29B | $46.71B | $30.93B | $20.45B | $15.21B |
| Operating income | $83.28B | $69.38B | $46.75B | $28.94B | $46.75B | $32.67B | $23.99B | $24.91B | $20.20B | $12.43B |
| Interest expense | $1.17B | $715.0M | $446.0M | $185.0M | $23.0M | — | $20.0M | $9.0M | $6.0M | $10.0M |
| Pre-tax income | $85.93B | $70.66B | $47.43B | $28.82B | $47.28B | $33.18B | $24.81B | $25.36B | $20.59B | $12.52B |
| Income tax | $25.47B | $8.30B | $8.33B | $5.62B | $7.91B | $4.03B | $6.33B | $3.25B | $4.66B | $2.30B |
| Net income | $60.46B | $62.36B | $39.10B | $23.20B | $39.37B | $29.15B | $18.48B | $22.11B | $15.93B | $10.22B |
| EPS, basic | 23.98 | 24.61 | 15.19 | 8.63 | 13.99 | 10.22 | 6.48 | 7.65 | 5.49 | 3.56 |
| EPS, diluted | 23.49 | 23.86 | 14.87 | 8.59 | 13.77 | 10.09 | 6.43 | 7.57 | 5.39 | 3.49 |
| Shares, diluted (wtd. avg.) | $2.57B | $2.61B | $2.63B | $2.70B | $2.86B | $2.89B | $2.88B | $2.92B | $2.96B | $2.92B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $35.87B | $43.89B | $41.86B | $15.60B | $16.86B | $17.95B | $19.28B | $10.12B | $8.20B | $9.11B |
| Short-term investments | $45.72B | $33.93B | $23.54B | $26.06B | $31.40B | $44.38B | $35.78B | $31.09B | $33.63B | $20.55B |
| Receivables | $19.77B | $16.99B | $16.17B | $13.47B | $14.04B | $11.34B | $9.52B | $7.59B | $5.83B | $3.99B |
| Total current assets | $108.72B | $100.05B | $85.36B | $59.55B | $66.67B | $75.67B | $66.22B | $50.48B | $48.56B | $34.40B |
| Property, plant and equipment | — | — | — | — | — | — | — | $24.68B | $13.72B | $8.59B |
| Goodwill | $24.53B | $20.65B | $20.65B | $20.31B | $19.20B | $19.05B | $18.71B | $18.30B | $18.22B | $18.12B |
| Other intangibles | $3.69B | $915.0M | $788.0M | $897.0M | $634.0M | $623.0M | $894.0M | $1.29B | $1.88B | $2.54B |
| Total assets | $366.02B | $276.05B | $229.62B | $185.73B | $165.99B | $159.32B | $133.38B | $97.33B | $84.52B | $64.96B |
| Accounts payable | — | — | — | — | — | $1.33B | $1.36B | $820.0M | $380.0M | $302.0M |
| Total current liabilities | $41.84B | $33.60B | $31.96B | $27.03B | $21.14B | $14.98B | $15.05B | $7.02B | $3.76B | $2.88B |
| Long-term debt | $58.74B | $28.83B | $18.39B | $9.92B | $0 | — | — | — | — | — |
| Total liabilities | $148.78B | $93.42B | $76.45B | $60.01B | $41.11B | $31.03B | $32.32B | $13.21B | $10.18B | $5.77B |
| Retained earnings | $121.18B | $102.51B | $82.07B | $64.80B | $69.76B | $77.34B | $55.69B | $41.98B | $33.99B | $21.67B |
| Total equity | $217.24B | $182.64B | $153.17B | $125.71B | $124.88B | $128.29B | $101.05B | $84.13B | $74.35B | $59.19B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $115.80B | $91.33B | $71.11B | $50.48B | $57.68B | $38.75B | $36.31B | $29.27B | $24.22B | $16.11B |
| Depreciation and amortisation | $18.62B | $15.50B | $11.18B | $8.69B | $7.97B | $6.86B | $5.74B | $4.32B | $3.02B | $2.34B |
| Stock-based compensation | $20.43B | $16.69B | $14.03B | $11.99B | $9.16B | $6.54B | $4.84B | $4.15B | $3.72B | $3.22B |
| Capital expenditure | $69.69B | $37.26B | $27.05B | $31.19B | $18.69B | $15.16B | $15.10B | $13.91B | $6.73B | $4.49B |
| Investing cash flow | -$102.00B | -$47.15B | -$24.50B | -$28.97B | -$7.57B | -$30.06B | -$19.86B | -$11.60B | -$20.12B | -$11.79B |
| Financing cash flow | -$20.37B | -$40.78B | -$19.50B | -$22.14B | -$50.73B | -$10.29B | -$7.30B | -$15.57B | -$5.24B | -$310.0M |
| Dividends paid | $5.32B | $5.07B | $0 | $0 | — | — | — | — | — | — |
| Buybacks | $26.25B | $30.12B | $19.77B | $27.96B | $44.54B | $6.27B | $4.20B | $12.88B | $1.98B | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-025532.
Others in SIC 7370
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| GOOGL | Alphabet Inc. | $4.11T | 31.3x | 15.1% |
| TBLA | Taboola.com Ltd. | $1.07T | 29.7x | 8.3% |
| APP | AppLovin Corp | $107.64B | 32.9x | 70.0% |
| ZM | Zoom Communications, Inc. | $29.68B | 16.4x | 4.4% |
| FLUT | Flutter Entertainment plc | $17.37B | — | 16.6% |
| DOCN | DigitalOcean Holdings, Inc. | $13.22B | 44.6x | 15.5% |
| PINS | PINTEREST, INC. | $11.48B | 33.4x | 15.8% |
| FDS | FACTSET RESEARCH SYSTEMS INC | $10.74B | 19.4x | 5.4% |