Meta Platforms, Inc. (META)财务
NASDAQ · Communication Services · Internet Content & Information · 员工66,775人 · CEO Mark Elliot Zuckerberg
- 股价
- $614.99 -1.53%
- 市值
- $1.36万亿
- 企业价值
- $1.46万亿
- 最近财报
- Q3 '26 2026-10-22提交
- 下次财报
- 2027-01-27 EPS预期 $8.35
营收(TTM)$2420亿+27.5% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)32.9%-10.4 百分点 对比去年同期营业利润 $794亿
净利润(TTM)$752亿+28.6% 对比去年同期税后,含营业外收益
自由现金流(TTM)$287亿-36.1% 对比去年同期资本支出 $1040亿
稀释EPS(TTM)$29.32+29.5% 对比去年同期最近4个季度之和
净现金-$296亿-348.4% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1.36万亿 EV $1.46万亿
- 营收
- $2420亿 过去12个月
- 营收增速
- +28% FY2026年一致预期
- 净利润率
- 31.1% 净利润 / 营收,TTM
- P/E
- 20.7× 预期 21.1×(FY2026)
- P/S
- 5.6× 股价 / 营收,TTM
- EV / EBITDA
- 13.7× TTM
- 自由现金流
- $287亿 过去12个月
- 净利润
- $752亿 过去12个月
- 营收预期
- $2570亿 FY2026年一致预期
- 盈利
- 2027-01-27 营收预期 $750亿
- 股息
- $2.10 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-21):营收超预期2.0%,EPS 超预期13.1%营收$646亿,预期$633亿(+2.0%);EPS $7.40,预期$6.54(+13.1%)。
- 营收增长放缓:同比26.1%Q3 '26营收$646亿,此前四个季度的平均值为27.8%。
- 营业利润率32.9%(TTM),较去年同期-10.4 百分点营收增长27.5%,营业利润增长-3.1%。
- 资本支出占营收的43.2%(去年为33.1%)最近4个季度投入$1040亿(同比+66.5%)。自由现金流$287亿,相当于净利润的38.1%。
- 股东回报$54亿 = 自由现金流的18.8%回购$0(去年为$301亿),股息$54亿,股权激励$269亿(TTM)。
- 稀释股数一年内增加0.0%Q3 '26稀释股数25.7亿,一年前为25.7亿。
- 净债务 $296亿现金 + 短期投资 $824亿,含租赁债务 $1120亿;一年前净债务 $66.1亿。
- Family Of Apps:营收+26.4%,利润率26.7%(此前为49.2%)Q3 '26增长最快的披露分部:营收$642亿,营业利润$171亿(来自财报的分部附注)。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $646亿 | $512亿 | +26.1% |
| 毛利率 | 79.3% | 82.0% | -2.7 百分点 |
| 营业利润 | $130亿 | $205亿 | -36.8% |
| 营业利润率 | 20.1% | 40.1% | -20.0 百分点 |
| 净利润 | $98.6亿 | $27.1亿 | +264.0% |
| 稀释EPS | $3.83 | $1.05 | +264.8% |
| 经营现金流 | $328亿 | $300亿 | +9.3% |
| 资本支出 | $339亿 | $188亿 | +80.3% |
| 自由现金流 | -$11.6亿 | $112亿 | -110.3% |
| R&D | $201亿 | $151亿 | +32.4% |
| 股权激励费用 | $73.6亿 | $55.6亿 | +32.5% |
实际 vs 一致预期
2026-10-21| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $646亿 | $633亿 | +2.0% |
| EPS(一致预期口径) | $7.40 | $6.54 | +13.1% |
来自2026-10-21发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Family of Apps | $642亿 | – | 99.3% | – | – | |
| Advertising | – | – | – | – | – | |
| Reality Labs | $4.43亿 | -5.7% | 0.7% | $22.3亿 | -4.5% | |
| Other revenue | – | – | – | – | – |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| US & Canada | $262亿 | +33.0% | 40.6% | $952亿 | +28.0% | |
| Asia Pacific | $170亿 | +18.8% | 26.3% | $639亿 | +25.6% | |
| Europe | $140亿 | +21.2% | 21.7% | $555亿 | +26.4% | |
| Rest Of World | $73.7亿 | +30.1% | 11.4% | $270亿 | +32.7% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Family Of Apps | $642亿 | +26.4% | $171亿 | -31.4% | 26.7% | 49.2% | $982亿 |
| Reality Labs | $4.43亿 | -5.7% | -$41.3亿 | +6.8% | -932.1% | -943.0% | -$188亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $1330亿
- 资本支出
- -$1040亿
- 股票回购
- $0
- 股息
- -$54亿
- 收购
- -$14.5亿
- 债务净发行
- $513亿
- 股权激励费用
- $269亿
- 自由现金流
- $287亿
- 股东回报 / FCF
- 18.8%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 20.7× | 22.5× | 13.9× – 27.5× |
| EV / EBITDA | 13.7× | 15.0× | 8.9× – 17.1× |
| EV / 营收 | 6.1× | 7.0× | 2.9× – 9.1× |
| 股价 / FCF | 47.5× | 25.1× | 17.0× – 36.1× |
| 股价 / 净资产 | 5.8× | 6.4× | 2.6× – 8.1× |
| FCF收益率 | 2.1% | 4.2% | 2.8% – 5.9% |
| 投入资本回报率 | 18.1% | 20.7% | 14.6% – 26.7% |
| 净资产收益率 | 30.3% | 27.5% | 18.5% – 34.1% |
分析师
一致目标价 $834.36 (+35.7%)
区间 $595.00 – $1,000.00 · 评级 Buy
强烈买入2
买入54
持有11
卖出2
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $2570亿 | +27.6% | $29.18 | +24.2% | 21.1× | 42 |
| FY2027 | $3120亿 | +21.7% | $34.13 | +17.0% | 18.0× | 43 |
| FY2028 | $3720亿 | +19.1% | $40.03 | +17.3% | 15.4× | 41 |
| FY2029 | $4340亿 | +16.7% | $49.14 | +22.8% | 12.5× | 19 |
| FY2030 | $4860亿 | +12.0% | $55.82 | +13.6% | 11.0× | 38 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Meta Platforms, Inc.在近期10-Q / 10-K文件中标记的全部271项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $191亿 | – | – | $13.3亿2020-12-31 | $13.6亿 | -2.3% |
| Accounts Payable, Trade, Current | $133亿2026-03-31 | $85.1亿 | +56.6% | $88.9亿 | $76.9亿 | +15.7% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $227亿 | $173亿 | +31.3% | $198亿 | $170亿 | +16.3% |
| Accrued Income Taxes, Noncurrent | $205亿 | $117亿 | +74.8% | $210亿 | $99.9亿 | +110.3% |
| Accrued Liabilities, Current | $414亿 | $270亿 | +53.0% | $307亿 | $240亿 | +28.2% |
| Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | – | – | – | -$26.6亿2024-12-31 | -$12.4亿 | -114.5% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$12亿 | $1.59亿 | -854.7% | $2.71亿 | -$31亿 | +108.8% |
| Additional Paid in Capital | $958亿2025-12-31 | $832亿 | +15.1% | $958亿 | $832亿 | +15.1% |
| Advertising Expense | – | – | – | $20.9亿 | $20.6亿 | +1.5% |
| Amortization of Intangible Assets | $2.89亿2025-12-31 | $5300万 | +445.3% | $6.15亿 | $2.11亿 | +191.5% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 5500万 | 100万 | +5,400.0% | – | – | – |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $73.6亿 | $55.6亿 | +32.5% | $204亿 | $167亿 | +22.4% |
| Assets | $4790亿 | $3040亿 | +57.6% | $3660亿 | $2760亿 | +32.6% |
| Assets, Current | $1200亿 | $731亿 | +64.0% | $1090亿 | $1000亿 | +8.7% |
| Assets, Fair Value Disclosure | $914亿 | $420亿 | +117.5% | $798亿 | $719亿 | +11.1% |
| Capital Expenditures Incurred but Not yet Paid | $16.1亿 | -$14.8亿 | +208.4% | $93.3亿 | $71.3亿 | +30.9% |
| Cash and Cash Equivalents, at Carrying Value | $112亿 | $102亿 | +10.2% | $359亿 | $439亿 | -18.3% |
| Cash and Cash Equivalents, Fair Value Disclosure | $72.2亿 | $60.2亿 | +19.8% | $315亿 | $367亿 | -14.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $244亿 | $119亿 | +104.0% | $391亿 | $454亿 | -13.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$49.2亿 | -$18.9亿 | -160.6% | -$63.4亿 | $26.1亿 | -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 | $1080亿 | – | – | $374亿2016-09-30 | – | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $92.6亿 | $26.4亿 | +251.0% | $638亿 | $614亿 | +3.9% |
| Contract with Customer, Liability | $11.9亿 | $9.24亿 | +28.8% | $10.8亿 | $7.72亿 | +39.9% |
| Contractual Obligation | $4550亿 | $812亿 | +459.8% | $1310亿 | $328亿 | +299.2% |
| Contractual Obligation, to be Paid, after Year Five | $179亿2025-12-31 | $27.5亿 | +549.6% | $179亿 | $27.5亿 | +549.6% |
| Contractual Obligation, to be Paid, Remainder of Fiscal Year | $459亿 | $178亿 | +157.7% | – | – | – |
| Contractual Obligation, to be Paid, Year Five | $194亿2025-12-31 | $1.53亿 | +12,584.3% | $194亿 | $1.53亿 | +12,584.3% |
| Contractual Obligation, to be Paid, Year Four | $198亿2025-12-31 | $2.27亿 | +8,605.3% | $198亿 | $2.27亿 | +8,605.3% |
| Contractual Obligation, to be Paid, Year One | $1210亿 | $86.2亿 | +1,308.5% | $306亿 | $263亿 | +16.3% |
| Contractual Obligation, to be Paid, Year Three | $212亿2025-12-31 | $8.12亿 | +2,513.4% | $212亿 | $8.12亿 | +2,513.4% |
| Contractual Obligation, to be Paid, Year Two | $222亿2025-12-31 | $25.5亿 | +769.9% | $222亿 | $25.5亿 | +769.9% |
| Cost of Revenue | $134亿 | $92.1亿 | +45.2% | $362亿 | $302亿 | +19.9% |
| Costs and Expenses | $516亿 | $307亿 | +68.1% | $1180亿 | $951亿 | +23.7% |
| Current Federal Tax Expense (Benefit) | – | – | – | $28.2亿 | $95.7亿 | -70.5% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $31.5亿 | $27亿 | +17.0% |
| Current Income Tax Expense (Benefit) | – | – | – | $67.2亿 | $130亿 | -48.5% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $7.45亿 | $7.75亿 | -3.9% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $3.31亿 | – | – | $2.56亿 | $1.74亿 | +47.1% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax | $1.29亿2026-03-31 | – | – | $3亿 | – | – |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $3.9亿 | $44.7亿 | -91.3% | $31.3亿 | $128亿 | -75.5% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $400万 | $7400万 | -94.6% | $3800万 | $3.82亿 | -90.1% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $599亿 | $16.1亿 | +3,611.5% | $27.2亿 | $103亿 | -73.5% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $5.99亿 | $400万 | +14,875.0% | $300万 | $9900万 | -97.0% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $268亿 | $254亿 | +5.4% | $267亿 | $249亿 | +7.4% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $413亿 | $27亿 | +1,429.9% | $130亿 | $78.5亿 | +66.0% |
| Debt Securities, Available-for-sale, Unrealized Loss Position | $603亿 | $60.9亿 | +890.7% | $58.5亿 | $231亿 | -74.6% |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $6.03亿 | $7800万 | +673.1% | $4100万 | $4.81亿 | -91.5% |
| DebtSecuritiesAvailableForSaleExcludingAccruedInterest | $681亿 | $281亿 | +142.1% | $397亿 | $327亿 | +21.5% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $184亿 | -$47.1亿 | +490.3% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$1900万 | $1500万 | -226.7% |
| Deferred Income Tax Expense (Benefit) | $21.2亿 | $199亿 | -89.3% | $188亿 | -$47.4亿 | +495.9% |
| Deferred Income Taxes and Tax Credits | – | – | – | $187亿 | -$47.4亿 | +495.5% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $3.95亿 | -$4300万 | +1,018.6% |
| Deferred Tax Assets, Gross | $281亿2025-12-31 | $270亿 | +3.9% | $281亿 | $270亿 | +3.9% |
| Deferred Tax Assets, Net | – | – | – | $95.8亿2024-12-31 | $48.6亿 | +96.9% |
| Deferred Tax Assets, Net of Valuation Allowance | $122亿2025-12-31 | $235亿 | -48.2% | $122亿 | $235亿 | -48.2% |
| Deferred Tax Assets, Operating Loss Carryforwards | $44.3亿2025-12-31 | $2.89亿 | +1,433.6% | $44.3亿 | $2.89亿 | +1,433.6% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 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
数据截至 2026-11-01