COVERAGE / META / Communication Services

Meta Platforms, Inc.

Services-Computer Programming, Data Processing, Etc.

COVERAGE STATUSACTIVE

DATA THROUGH2025-12-31

RESEARCH REPORTS2

SELECTED FILINGS1

Fundamental matrix

Latest / 2025-12-31 · Prior / 2024-12-31 · USD · Annual periods

Revenue

$200.97bn

Prior / $164.5bn

Change / +22.17%

SOURCE / 2026-01-29

Operating income

$83.28bn

Prior / $69.38bn

Change / +20.03%

SOURCE / 2026-01-29

Net income

$60.46bn

Prior / $62.36bn

Change / -3.05%

SOURCE / 2026-01-29

Diluted EPS

$23.49

Prior / $23.86

Change / -1.55%

SOURCE / 2026-01-29

Free cash flow

$46.11bn

Prior / $54.07bn

Change / -14.73%

SOURCE / 2026-01-29

Gross margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Operating margin

41.44%

Prior / 42.18%

Change / -0.74 pp

SOURCE / 2026-01-29

Return on avg. equity

30.24%

Prior / 37.14%

Change / -6.90 pp

SOURCE / 2026-01-29

Debt / equity

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

ROE uses net income divided by average opening/closing equity. FCF = operating cash flow − selected capital expenditure. Debt/equity is unavailable because a verified interest-bearing-debt series is absent; total liabilities are not substituted for debt.

Inspect source tags, dates and accession numbers

{
  "revenue": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 200966000000,
    "accn": "0001628280-26-003942",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-01-29",
    "frame": "CY2025",
    "tag": "us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax",
    "unit": "USD"
  },
  "netIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 60458000000,
    "accn": "0001628280-26-003942",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-01-29",
    "tag": "us-gaap:NetIncomeLoss",
    "unit": "USD"
  },
  "operatingIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 83276000000,
    "accn": "0001628280-26-003942",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-01-29",
    "frame": "CY2025",
    "tag": "us-gaap:OperatingIncomeLoss",
    "unit": "USD"
  },
  "eps": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 23.49,
    "accn": "0001628280-26-003942",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-01-29",
    "frame": "CY2025",
    "tag": "us-gaap:EarningsPerShareDiluted",
    "unit": "USD/shares"
  },
  "operatingCashFlow": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 115800000000,
    "accn": "0001628280-26-003942",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-01-29",
    "frame": "CY2025",
    "tag": "us-gaap:NetCashProvidedByUsedInOperatingActivities",
    "unit": "USD"
  },
  "capex": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 69691000000,
    "accn": "0001628280-26-003942",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-01-29",
    "frame": "CY2025",
    "tag": "us-gaap:PaymentsToAcquirePropertyPlantAndEquipment",
    "unit": "USD"
  },
  "totalAssets": {
    "end": "2025-12-31",
    "val": 366021000000,
    "accn": "0001628280-26-003942",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-01-29",
    "tag": "us-gaap:Assets",
    "unit": "USD"
  },
  "totalLiabilities": {
    "end": "2025-12-31",
    "val": 148778000000,
    "accn": "0001628280-26-003942",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-01-29",
    "tag": "us-gaap:Liabilities",
    "unit": "USD"
  },
  "shareholdersEquity": {
    "end": "2025-12-31",
    "val": 217243000000,
    "accn": "0001628280-26-003942",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-01-29",
    "tag": "us-gaap:StockholdersEquity",
    "unit": "USD"
  },
  "currentAssets": {
    "end": "2025-12-31",
    "val": 108722000000,
    "accn": "0001628280-26-003942",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-01-29",
    "tag": "us-gaap:AssetsCurrent",
    "unit": "USD"
  },
  "currentLiabilities": {
    "end": "2025-12-31",
    "val": 41836000000,
    "accn": "0001628280-26-003942",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-01-29",
    "tag": "us-gaap:LiabilitiesCurrent",
    "unit": "USD"
  }
}

Financial trend system

Annual financial trends are summarized in the accessible table below.

Annual figures / accessible table

Period end	Revenue	Net income	Free cash flow	EPS
2025-12-31	$200.97bn	$60.46bn	$46.11bn	$23.49
2024-12-31	$164.5bn	$62.36bn	$54.07bn	$23.86
2023-12-31	$134.9bn	$39.1bn	$44.07bn	$14.87
2022-12-31	$116.61bn	$23.2bn	$19.29bn	$8.59

Valuation context

Historical snapshot / 2026-09-17. Annual accounting period / 2025-12-31. Not current, TTM or forward valuation.

Dated ratios / eligible same-method sector sample
Measure	Snapshot value	Historical median	Sector median	Peer count
P/E	29.05x	Unavailable	16.25x	8
P/S	Unavailable	Unavailable	1.93x	3
P/B	Unavailable	Unavailable	6.72x	2
EV / EBITDA	Unavailable	Unavailable	Unavailable	0
FCF yield	Unavailable	Unavailable	4.28%	2

Annual denominators, not TTM or forward. Capitalization-based measures use estimated market capitalization from the dated quote snapshot. ADR/share-basis uncertainty is excluded. No comparable historical-multiple series or EV/EBITDA is available. Sector samples are equal-weight medians of this publication’s eligible covered companies; fiscal periods differ. No fair value or price target is implied.

Source: Yahoo Finance completed daily-bar snapshot; not live DAILY-BAR SOURCE ↗

Retained price snapshot and capitalization estimate

{
  "currentPrice": 682.31,
  "tradingDate": "2026-09-17",
  "marketCap": null,
  "source": "Yahoo Finance completed daily-bar snapshot; not live"
}

Company & operating context

Meta Platforms, Inc. is an SEC-reporting issuer listed on NASDAQ under META. Its SEC industry description is Services-Computer Programming, Data Processing, Etc.. This profile organizes annual financial disclosures for research; sector labels are editorial groupings, not GICS classifications.

Advertising, subscriptions and connectivity produce very different revenue and cash-flow models.

Segment-level revenue is not included in this standardized dataset. Consult the business and segment notes in the linked annual filing for the issuer’s actual reporting segments.

Filing timeline

10-KFILED / 2026-01-29PERIOD / 2025-12-31

META filed this 10-K on 2026-01-29 for the reported period 2025-12-31. Reading focus: Advertising exposure, subscription economics, network investment and cash conversion. This is a metadata-based reading guide; it does not assert that a particular event or risk change occurred in the document.

ORIGINAL SEC DISCLOSURE ↗

Research archive

HR-0095METAEarnings Review

META: the annual earnings and cash-flow comparison ↗

Meta Platforms, Inc.

Research abstract

A two-period review of META revenue, profitability and cash conversion; reported revenue growth was 22.17%.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

HR-0096METACompany Research

META: reading the FY2025 financial structure ↗

Meta Platforms, Inc.

Research abstract

Annual revenue of USD 200.966 billion and net income of USD 60.458 billion for the period ended 2025-12-31.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

Sector context & risk factors

Audience migration, content costs, competition, capital intensity and privacy regulation.

Advertising exposure, subscription economics, network investment and cash conversion.

COMMUNICATION SERVICES SYSTEM ↗

Sources & dates

SEC annual filing · 2025-12-31 ↗Source date 2026-01-29
SEC annual filing · 2024-12-31 ↗Source date 2026-01-29
SEC annual filing · 2023-12-31 ↗Source date 2026-01-29
SEC annual filing · 2022-12-31 ↗Source date 2025-01-30
SEC issuer record ↗Source date 2026-09-18