Meta Platforms, Inc. (META) financials
NASDAQ · Communication Services · Internet Content & Information · 66,775 employees · CEO Mark Elliot Zuckerberg
- Price
- $614.99 -1.53%
- Market cap
- $1.36T
- Enterprise value
- $1.46T
- Last report
- Q3 '26 filed 2026-10-22
- Next report
- 2027-01-27 EPS est. $8.35
Revenue (TTM)$242B+27.5% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)32.9%-10.4 pp vs a year agoOperating income $79.4B
Net income (TTM)$75.2B+28.6% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$28.7B-36.1% vs a year agoCapex $104B
Diluted EPS (TTM)$29.32+29.5% vs a year agoSum of the last 4 quarters
Net cash-$29.6B-348.4% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $1.36T EV $1.46T
- Revenue
- $242B Trailing 12 months
- Revenue growth
- +28% FY2026 consensus
- Profit margin
- 31.1% Net income / revenue, TTM
- P/E
- 20.7× Forward 21.1× (FY2026)
- P/S
- 5.6× Price / sales, TTM
- EV / EBITDA
- 13.7× TTM
- Free cash flow
- $28.7B Trailing 12 months
- Net income
- $75.2B Trailing 12 months
- Revenue estimate
- $257B FY2026 consensus
- Earnings
- 2027-01-27 Revenue est. $75B
- Dividend
- $2.10 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-21): revenue beat by 2.0%, EPS beat by 13.1%Revenue $64.6B vs $63.3B expected (+2.0%); EPS $7.40 vs $6.54 (+13.1%).
- Revenue growth slowing: 26.1% year on yearQ3 '26 revenue $64.6B, against an average of 27.8% over the four quarters before.
- Operating margin 32.9% (TTM), -10.4 pp on a year agoOperating income grew -3.1% while revenue grew 27.5%.
- Capex 43.2% of revenue (a year ago 33.1%)$104B invested in the last 4 quarters (+66.5% on a year earlier). Free cash flow $28.7B = 38.1% of net income.
- Returned $5.4B to shareholders = 18.8% of free cash flowBuybacks $0 (a year earlier $30.1B), dividends $5.4B, stock-based pay $26.9B (TTM).
- Diluted share count up 0.0% in a year2.57B diluted shares in Q3 '26, 2.57B a year earlier.
- Net debt $29.6BCash + short-term investments $82.4B, debt incl. leases $112B; a year ago net debt $6.61B.
- Family Of Apps: revenue +26.4%, margin 26.7% (was 49.2%)Fastest-growing reported segment in Q3 '26: operating income $17.1B on revenue $64.2B (from the segment note of the filing).
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $64.6B | $51.2B | +26.1% |
| Gross margin | 79.3% | 82.0% | -2.7 pp |
| Operating income | $13B | $20.5B | -36.8% |
| Operating margin | 20.1% | 40.1% | -20.0 pp |
| Net income | $9.86B | $2.71B | +264.0% |
| Diluted EPS | $3.83 | $1.05 | +264.8% |
| Operating cash flow | $32.8B | $30B | +9.3% |
| Capex | $33.9B | $18.8B | +80.3% |
| Free cash flow | -$1.16B | $11.2B | -110.3% |
| R&D | $20.1B | $15.1B | +32.4% |
| Stock-based compensation | $7.36B | $5.56B | +32.5% |
Reported vs consensus
2026-10-21| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $64.6B | $63.3B | +2.0% |
| EPS (as estimated) | $7.40 | $6.54 | +13.1% |
From the report of 2026-10-21 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Family of Apps | $64.2B | – | 99.3% | – | – | |
| Advertising | – | – | – | – | – | |
| Reality Labs | $443M | -5.7% | 0.7% | $2.23B | -4.5% | |
| Other revenue | – | – | – | – | – |
Revenue by region
share of total| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| US & Canada | $26.2B | +33.0% | 40.6% | $95.2B | +28.0% | |
| Asia Pacific | $17B | +18.8% | 26.3% | $63.9B | +25.6% | |
| Europe | $14B | +21.2% | 21.7% | $55.5B | +26.4% | |
| Rest Of World | $7.37B | +30.1% | 11.4% | $27B | +32.7% |
Segment profits
Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).
Segments in Q3 '26
| Segment | Revenue | y/y | Operating income | y/y | Margin | Margin a year ago | TTM operating income |
|---|---|---|---|---|---|---|---|
| Family Of Apps | $64.2B | +26.4% | $17.1B | -31.4% | 26.7% | 49.2% | $98.2B |
| Reality Labs | $443M | -5.7% | -$4.13B | +6.8% | -932.1% | -943.0% | -$18.8B |
Operating income by segment
quarterlySegment operating margin
quarterlyFourth quarters are derived: the 10-K reports the full year, minus the three quarters of the 10-Qs.
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $133B
- Capex
- -$104B
- Buybacks
- $0
- Dividends
- -$5.4B
- Acquisitions
- -$1.45B
- Net debt issued
- $51.3B
- Stock-based compensation
- $26.9B
- Free cash flow
- $28.7B
- Returned to shareholders / FCF
- 18.8%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 20.7× | 22.5× | 13.9× – 27.5× |
| EV / EBITDA | 13.7× | 15.0× | 8.9× – 17.1× |
| EV / Sales | 6.1× | 7.0× | 2.9× – 9.1× |
| Price / FCF | 47.5× | 25.1× | 17.0× – 36.1× |
| Price / Book | 5.8× | 6.4× | 2.6× – 8.1× |
| FCF yield | 2.1% | 4.2% | 2.8% – 5.9% |
| Return on invested capital | 18.1% | 20.7% | 14.6% – 26.7% |
| Return on equity | 30.3% | 27.5% | 18.5% – 34.1% |
Analysts
Consensus target $834.36 (+35.7%)
range $595.00 – $1,000.00 · rating Buy
Strong buy2
Buy54
Hold11
Sell2
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $257B | +27.6% | $29.18 | +24.2% | 21.1× | 42 |
| FY2027 | $312B | +21.7% | $34.13 | +17.0% | 18.0× | 43 |
| FY2028 | $372B | +19.1% | $40.03 | +17.3% | 15.4× | 41 |
| FY2029 | $434B | +16.7% | $49.14 | +22.8% | 12.5× | 19 |
| FY2030 | $486B | +12.0% | $55.82 | +13.6% | 11.0× | 38 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 271 figures Meta Platforms, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $19.1B | – | – | $1.33B2020-12-31 | $1.36B | -2.3% |
| Accounts Payable, Trade, Current | $13.3B2026-03-31 | $8.51B | +56.6% | $8.89B | $7.69B | +15.7% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $22.7B | $17.3B | +31.3% | $19.8B | $17B | +16.3% |
| Accrued Income Taxes, Noncurrent | $20.5B | $11.7B | +74.8% | $21B | $9.99B | +110.3% |
| Accrued Liabilities, Current | $41.4B | $27B | +53.0% | $30.7B | $24B | +28.2% |
| Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | – | – | – | -$2.66B2024-12-31 | -$1.24B | -114.5% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1.2B | $159M | -854.7% | $271M | -$3.1B | +108.8% |
| Additional Paid in Capital | $95.8B2025-12-31 | $83.2B | +15.1% | $95.8B | $83.2B | +15.1% |
| Advertising Expense | – | – | – | $2.09B | $2.06B | +1.5% |
| Amortization of Intangible Assets | $289M2025-12-31 | $53M | +445.3% | $615M | $211M | +191.5% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 55M | 1M | +5,400.0% | – | – | – |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $7.36B | $5.56B | +32.5% | $20.4B | $16.7B | +22.4% |
| Assets | $479B | $304B | +57.6% | $366B | $276B | +32.6% |
| Assets, Current | $120B | $73.1B | +64.0% | $109B | $100B | +8.7% |
| Assets, Fair Value Disclosure | $91.4B | $42B | +117.5% | $79.8B | $71.9B | +11.1% |
| Capital Expenditures Incurred but Not yet Paid | $1.61B | -$1.48B | +208.4% | $9.33B | $7.13B | +30.9% |
| Cash and Cash Equivalents, at Carrying Value | $11.2B | $10.2B | +10.2% | $35.9B | $43.9B | -18.3% |
| Cash and Cash Equivalents, Fair Value Disclosure | $7.22B | $6.02B | +19.8% | $31.5B | $36.7B | -14.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $24.4B | $11.9B | +104.0% | $39.1B | $45.4B | -13.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$4.92B | -$1.89B | -160.6% | -$6.34B | $2.61B | -342.7% |
| Common Stock, Dividends, Per Share, Declared | $0.53 | $0.53 | 0.0% | $2.10 | $2.00 | +5.0% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.002024-12-31 | $0.00 | 0.0% |
| Common Stock, Value, Issued | $02025-12-31 | $0 | – | $0 | $0 | – |
| Common Stocks, Including Additional Paid in Capital | $108B | – | – | $37.4B2016-09-30 | – | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $9.26B | $2.64B | +251.0% | $63.8B | $61.4B | +3.9% |
| Contract with Customer, Liability | $1.19B | $924M | +28.8% | $1.08B | $772M | +39.9% |
| Contractual Obligation | $455B | $81.2B | +459.8% | $131B | $32.8B | +299.2% |
| Contractual Obligation, to be Paid, after Year Five | $17.9B2025-12-31 | $2.75B | +549.6% | $17.9B | $2.75B | +549.6% |
| Contractual Obligation, to be Paid, Remainder of Fiscal Year | $45.9B | $17.8B | +157.7% | – | – | – |
| Contractual Obligation, to be Paid, Year Five | $19.4B2025-12-31 | $153M | +12,584.3% | $19.4B | $153M | +12,584.3% |
| Contractual Obligation, to be Paid, Year Four | $19.8B2025-12-31 | $227M | +8,605.3% | $19.8B | $227M | +8,605.3% |
| Contractual Obligation, to be Paid, Year One | $121B | $8.62B | +1,308.5% | $30.6B | $26.3B | +16.3% |
| Contractual Obligation, to be Paid, Year Three | $21.2B2025-12-31 | $812M | +2,513.4% | $21.2B | $812M | +2,513.4% |
| Contractual Obligation, to be Paid, Year Two | $22.2B2025-12-31 | $2.55B | +769.9% | $22.2B | $2.55B | +769.9% |
| Cost of Revenue | $13.4B | $9.21B | +45.2% | $36.2B | $30.2B | +19.9% |
| Costs and Expenses | $51.6B | $30.7B | +68.1% | $118B | $95.1B | +23.7% |
| Current Federal Tax Expense (Benefit) | – | – | – | $2.82B | $9.57B | -70.5% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $3.15B | $2.7B | +17.0% |
| Current Income Tax Expense (Benefit) | – | – | – | $6.72B | $13B | -48.5% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $745M | $775M | -3.9% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $331M | – | – | $256M | $174M | +47.1% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax | $129M2026-03-31 | – | – | $300M | – | – |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $390M | $4.47B | -91.3% | $3.13B | $12.8B | -75.5% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $4M | $74M | -94.6% | $38M | $382M | -90.1% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $59.9B | $1.61B | +3,611.5% | $2.72B | $10.3B | -73.5% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $599M | $4M | +14,875.0% | $3M | $99M | -97.0% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $26.8B | $25.4B | +5.4% | $26.7B | $24.9B | +7.4% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $41.3B | $2.7B | +1,429.9% | $13B | $7.85B | +66.0% |
| Debt Securities, Available-for-sale, Unrealized Loss Position | $60.3B | $6.09B | +890.7% | $5.85B | $23.1B | -74.6% |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $603M | $78M | +673.1% | $41M | $481M | -91.5% |
| DebtSecuritiesAvailableForSaleExcludingAccruedInterest | $68.1B | $28.1B | +142.1% | $39.7B | $32.7B | +21.5% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $18.4B | -$4.71B | +490.3% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$19M | $15M | -226.7% |
| Deferred Income Tax Expense (Benefit) | $2.12B | $19.9B | -89.3% | $18.8B | -$4.74B | +495.9% |
| Deferred Income Taxes and Tax Credits | – | – | – | $18.7B | -$4.74B | +495.5% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $395M | -$43M | +1,018.6% |
| Deferred Tax Assets, Gross | $28.1B2025-12-31 | $27B | +3.9% | $28.1B | $27B | +3.9% |
| Deferred Tax Assets, Net | – | – | – | $9.58B2024-12-31 | $4.86B | +96.9% |
| Deferred Tax Assets, Net of Valuation Allowance | $12.2B2025-12-31 | $23.5B | -48.2% | $12.2B | $23.5B | -48.2% |
| Deferred Tax Assets, Operating Loss Carryforwards | $4.43B2025-12-31 | $289M | +1,433.6% | $4.43B | $289M | +1,433.6% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-01