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NASDAQ NMS - GLOBAL MARKET · Media · CIK 0001326801
$697.52
+0.47% · delayed ~15 min
Last price from Oct 21, 2026
$1.76T market value
From Meta Platforms, Inc.'s FY2025 10-K, filed Jan 29, 2026 · read the filing
Meta Platforms makes and sells software and computing services. It took in $200.97B last year, which makes it one of the largest companies in the world. Of every dollar it sells, about 30 cents is left as profit.
The financial picture is led by profitability, growth, debt and accounting.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
Strong finances across the board.
From Meta Platforms, Inc.'s FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Long-term debt
$28.83B → $58.74B
Capital spending
$37.26B → $69.69B
Revenue
$164.50B → $200.97B
Gross profit
$134.34B → $164.79B
Measured against FY2024, from the 10-K filed Jan 29, 2026
Deteriorated: +103.8%
$28.83B to $58.74BCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Changed: +87.1%
$37.26B to $69.69BCritical
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
How the latest move compares (quote delayed ~15 min), and what was published around it
META rose 0.47% on the latest quote. The average Technology company tracked here moved −1.21%, and the S&P 500 −1.04%. That is 1.7 points above its sector and 1.5 points above the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 14% a year for the next 10 years. Over the last 10 years it grew by about 19% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 30 cents of every dollar of sales as profit, earning $60.46B last year.
Yes, quickly. Sales grew 22.2% last year.
No. Its borrowings would take under a year of cash flow to clear. For every $1 it owes, it owns $2.46 in assets.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It pays out 9 cents of every dollar of profit and keeps the rest, which leaves the payment comfortably covered. It paid out 5% of the cash its operations generated.
GoodNext payment expected around , projected from how regularly it has paid before rather than from a date the company has announced.
Figures from the FY2025 annual filing
Last year it earned $60.46B and generated $115.80B of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Jan 29, 2026Filing for FY2025 | FY202410-K · Jan 30, 2025Filing for FY2024 | FY202310-K · Jan 30, 2025Filing for FY2023 | FY202210-K · Jan 30, 2025Filing for FY2022 | FY202110-K · Feb 2, 2024Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $200.97B | $164.50B | $134.90B | $116.61B | $117.93B | +22.2% |
| Cost of revenue | $36.17B | $30.16B | $25.96B | $25.25B | $22.65B | +19.9% |
| Gross profit | $164.79B† | $134.34B† | $108.94B† | $91.36B† | $95.28B† | +22.7% |
| Gross marginGross profit ÷ revenueWhat is this? | 82.0% | 81.7% | 80.8% | 78.3% | 80.8% | +0.3 pts |
| Selling, general and administrative | $12.15B | $9.74B | $11.41B | $11.82B | $9.83B | +24.8% |
| Operating income | $83.28B | $69.38B | $46.75B | $28.94B | $46.75B | +20.0% |
| Operating marginOperating income ÷ revenueWhat is this? | 41.4% | 42.2% | 34.7% | 24.8% | 39.6% | −0.7 pts |
| Interest expense | $1.09B | $683.0M | $446.0M | $185.0M | $23.0M | +59.6% |
| Income before tax | $85.93B | $70.66B | $47.43B | $28.82B | $47.28B | +21.6% |
| Net income | $60.46B | $62.36B | $39.10B | $23.20B | $39.37B | −3.1% |
| Net marginNet income ÷ revenueWhat is this? | 30.1% | 37.9% | 29.0% | 19.9% | 33.4% | −7.8 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $23.98 | $24.61 | $15.19 | $8.63 | $13.99 | −2.6% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
This company's latest filing beside its peers' stored scores
| Company | Health | F-Score | Revenue growth | Profit margin | P/E | Debt to equity |
|---|---|---|---|---|---|---|
| METAMeta Platforms, Inc. · this page | 10.0/10 | 5/9 |
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Sold on the open market — 946 shares at $707.20 ($669.0K)
Holds 5,986 shares after this filing.
Sold on the open market
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Quarterly report for Q3 FY2026
Revenue +26.1% · Operating margin −20.0 pts · Profit +264.0% — against Q3 FY2025
Read the filingSigned a material agreement · Published results · Reported another event
Read the filingWrite down why you are following Meta Platforms, Inc., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
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Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from META's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Jan 29, 2026), reported under the US GAAP taxonomy. View the source filing.
4 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. All four had enough reported figures. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 9 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 10.0 | 5/9 | 10-K, filed Jan 29, 2026 |
| FY2024 | 10.0 | 8/9 | 10-K, filed Jan 30, 2025 |
| FY2023 | 10.0 | 7/9 | 10-K, filed Feb 2, 2024 |
| FY2022 | 8.0 | 4/9 | 10-K, filed Feb 2, 2023 |
| FY2021 | 10.0 | 7/8 | 10-K, filed Feb 3, 2022 |
| FY2020 | 10.0 | 7/8 | 10-K, filed Jan 28, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
5 of 9 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's.
5.34
In the safe zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
-3.04
Below the threshold — nothing unusual flagged
Scores above -1.78 are the ones the model associates with earnings manipulation.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Improved: +22.2%
$164.50B to $200.97BSignificant
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +22.7%
$134.34B to $164.79BSignificant
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: +20.0%
$69.38B to $83.28BSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: −7.8 pts
37.9% to 30.1%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: -18.3%
$43.89B to $35.87BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: -14.7%
$54.07B to $46.11BNotable
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Q3 FY2026 against Q3 FY2025, from the 10-Q filed Oct 22, 2026 — read it.
Improved: +264.0%
$2.71B to $9.86BCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −20.0 pts
40.1% to 20.1%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +10.0 pts
5.3% to 15.3%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +259.0%
$1.08 to $3.86Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: +180.6%
$28.83B to $80.92BCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +26.1%
$51.24B to $64.60BSignificant
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +21.9%
$42.04B to $51.23BSignificant
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: -36.8%
$20.54B to $12.99BSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: −2.7 pts
82.0% to 79.3%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Improved: +10.2%
$10.19B to $11.22BNotable
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: +1.4%
2.52B to 2.55BNotable
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Q3 FY2026 against Q2 FY2026, from the 10-Q filed Oct 22, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Deteriorated: −10.8 pts
30.9% to 20.1%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: −10.8 pts
26.1% to 15.3%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: -30.8%
$18.77B to $12.99BSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: -37.8%
$15.85B to $9.86BSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: -38.0%
$6.23 to $3.86Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -27.4%
$15.46B to $11.22BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +6.2%
$60.80B to $64.60BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Deteriorated: −2.1 pts
81.4% to 79.3%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
6 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between 12% and 17%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Opinions from 69 analysts covering this company, as of . Their views, not this site's.
Of 69 analysts publishing on this company, 20 say strong buy, 41 say buy, 7 say hold and 1 say sell. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 1.3% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 31.9x — a high multiple relative to the current trailing profit.
Nothing unusual. Its accounting patterns look like those of companies that report earnings straightforwardly.
| 22.2% |
| 30.1% |
| 29.09x |
| 0.68x |
| GOOGLAlphabet Inc. | 10.0/10 | 7/9 | 15.1% | 32.8% | 29.65x | 0.43x |
|---|
| PINSPINTEREST, INC. | 8.7/10 | 6/8 | 15.8% | 9.9% | 37.11x | 0.16x |
|---|
| SNAPSnap Inc | 5.0/10 | 7/9 | 10.6% | -7.8% | — | 2.37x |
|---|
| MTCHMatch Group, Inc. | 7.0/10 | 8/9 | 0.2% | 17.6% | 17.41x | -18.60x |
|---|
| Median of peers | 7.8/10 | — | 12.9% | 13.7% | 29.65x | 0.30x |
|---|
Peers come from the company's industry classification. A difference describes the companies; it does not rank them.
Holds 5,670 shares after this filing.
Sold on the open market — 57 shares at $707.20 ($40.3K)
Holds 947 shares after this filing.
Sold on the open market — 82 shares at $707.20 ($58.0K)
Holds 5,670 shares after this filing.
Sold on the open market — 408 shares at $707.20 ($288.5K)
Holds 75,805 shares after this filing.
Sold on the open market — 946 shares at $728.10 ($688.8K)
Holds 6,932 shares after this filing.
Sold on the open market — 82 shares at $728.10 ($59.7K)
Holds 5,752 shares after this filing.
Sold on the open market — 57 shares at $728.10 ($41.5K)
Holds 1,004 shares after this filing.
Sold on the open market — 82 shares at $728.10 ($59.7K)
Holds 5,752 shares after this filing.
Sold on the open market — 408 shares at $728.10 ($297.1K)
Holds 76,213 shares after this filing.
Sold on the open market — 946 shares at $728.08 ($688.8K)
Holds 7,878 shares after this filing.
Sold on the open market — 82 shares at $728.08 ($59.7K)
Holds 5,834 shares after this filing.
Sold on the open market — 57 shares at $728.08 ($41.5K)
Holds 1,061 shares after this filing.
Sold on the open market — 82 shares at $728.08 ($59.7K)
Holds 5,834 shares after this filing.
Sold on the open market — 408 shares at $728.08 ($297.1K)
Holds 76,621 shares after this filing.
Sold on the open market — 946 shares at $750.42 ($709.9K)
Holds 8,824 shares after this filing.
Sold on the open market — 82 shares at $748.91 ($61.4K)
Holds 5,916 shares after this filing.
Sold on the open market — 57 shares at $748.91 ($42.7K)
Holds 1,118 shares after this filing.
Sold on the open market — 82 shares at $748.91 ($61.4K)
Holds 5,916 shares after this filing.
Sold on the open market — 408 shares at $748.91 ($305.6K)
Holds 77,029 shares after this filing.
Converted a derivative security — 17,140 shares
Holds 17,140 shares after this filing.
Sold on the open market — 2,093 shares at $775.39 ($1.6M)
Holds 15,047 shares after this filing.
Sold on the open market — 2,516 shares at $776.56 ($2.0M)
Holds 12,531 shares after this filing.
Sold on the open market — 7,607 shares at $777.63 ($5.9M)
Holds 4,924 shares after this filing.
Sold on the open market — 4,324 shares at $778.36 ($3.4M)
Holds 600 shares after this filing.
Sold on the open market — 600 shares at $779.33 ($467.6K)
Holds 0 shares after this filing.
Sold on the open market — 1,133 shares at $775.32 ($878.4K)
Holds 1,229,904 shares after this filing.
Sold on the open market — 1,769 shares at $776.56 ($1.4M)
Holds 1,228,135 shares after this filing.
Sold on the open market — 4,810 shares at $777.66 ($3.7M)
Holds 1,223,325 shares after this filing.
Sold on the open market — 2,146 shares at $778.40 ($1.7M)
Holds 1,221,179 shares after this filing.
Sold on the open market — 476 shares at $779.28 ($370.9K)
Holds 1,220,703 shares after this filing.
Sold on the open market — 946 shares at $680.27 ($643.5K)
Holds 9,770 shares after this filing.
Sold on the open market — 82 shares at $680.27 ($55.8K)
Holds 5,998 shares after this filing.
Sold on the open market — 57 shares at $680.27 ($38.8K)
Holds 1,175 shares after this filing.
Sold on the open market — 82 shares at $680.27 ($55.8K)
Holds 5,998 shares after this filing.
Sold on the open market — 408 shares at $680.27 ($277.6K)
Holds 77,437 shares after this filing.
Sold on the open market — 20,000 shares at $700.50 ($14.0M)
Holds 204,516 shares after this filing.
Sold on the open market — 20,000 shares at $725.02 ($14.5M)
Holds 184,516 shares after this filing.
Sold on the open market — 20,000 shares at $675.23 ($13.5M)
Holds 224,516 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 1,575 shares ($1.1M) on or after .
Shares originally obtained via Restricted Stock Unit Lapse.
Filed notice to sell 1,575 shares ($1.1M) on or after .
Shares originally obtained via Restricted Stock Unit Lapse.
Filed notice to sell 1,575 shares ($1.1M) on or after .
Shares originally obtained via Restricted Stock Unit Lapse.
Filed notice to sell 1,575 shares ($1.2M) on or after .
Shares originally obtained via Restricted Stock Unit Lapse.
Filed notice to sell 27,474 shares ($21.4M) on or after .
Shares originally obtained via Option Exercise.
Filed notice to sell 1,575 shares ($1.1M) on or after .
Shares originally obtained via Restricted Stock Unit Lapse.
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Quarterly report for Q2 FY2026
Revenue +28.0% · Operating margin −12.1 pts · Profit margin −12.5 pts — against Q2 FY2025
Published results
Read the filingHeld a shareholder vote
Read the filingReported another event
Read the filingQuarterly report for Q1 FY2026
Revenue +33.1% · Profit margin +8.2 pts · Profit +60.9% — against Q1 FY2025
Read the filingPublished results
Read the filingProxy statement for a shareholder meeting
Read the filingHad a director or senior officer leave or join
Read the filingAnnual report for FY2025
Revenue +22.2% · Profit margin −7.8 pts · Long-term debt +103.8% — against FY2024
Read the filingPublished results
Read the filingHad a director or senior officer leave or join
Read the filingHad a director or senior officer leave or join
Read the filingReported another event
Read the filingReported another event
Read the filingQuarterly report for Q3 FY2025
Revenue +26.2% · Operating margin −2.7 pts · Profit -82.7% — against Q3 FY2024
Read the filingPublished results
Read the filingQuarterly report for Q2 FY2025
Revenue +21.6% · Operating margin +5.0 pts · Long-term debt +56.8% — against Q2 FY2024
Read the filingPublished results
Read the filingPrimary sources and further research