Tearsheet

Meta Platforms (META)

Market Price (12/15/2025): $644.73 | Market Cap: $1.6 Tril
Sector: Communication Services | Industry: Interactive Media & Services

Meta Platforms (META)

Market Price (12/15/2025): $644.73
Market Cap: $1.6 Tril
Sector: Communication Services
Industry: Interactive Media & Services

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 21%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 57%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%, CFO LTM is 108 Bil, FCF LTM is 45 Bil
2	Low stock price volatility Vol 12M is 38%
3	Megatrend and thematic drivers Megatrends include Artificial Intelligence, Social Media & Creator Economy, Digital Advertising, and Metaverse & Immersive Technologies. Show more.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 21%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 57%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%, CFO LTM is 108 Bil, FCF LTM is 45 Bil
2	Low stock price volatility Vol 12M is 38%
3	Megatrend and thematic drivers Megatrends include Artificial Intelligence, Social Media & Creator Economy, Digital Advertising, and Metaverse & Immersive Technologies. Show more.

Valuation, Metrics & Events

	12/15/25	2024	2023	2022	2021
Share Price CYE	$644.73	$584.15	$351.79	$119.60	$334.29
Market Cap CYE ($ Bil)	1,622.8	1,476.7	902.3	315.6	924.0
Total Debt ($ Bil)	51.1	49.1	37.2	26.6	13.9
Total Cash ($ Bil)	44.4	77.8	65.4	40.7	48.0
Enterprise Value ($ Bil)	1,629.4	1,525.8	939.5	342.2	937.9
Valuation Ratios
P/S TTM	9.8	9.0	6.8	2.8	8.0
P/EBIT TTM	21.7	20.8	19.0	11.2	20.0
P/E TTM	31.6	23.8	23.3	13.9	24.1
Sector Ratios
P/S TTM (Sector)	11.4	10.5	8.0	5.0	10.4
P/EBIT TTM (Sector)	29.1	31.2	26.5	17.6	29.4
P/E TTM (Sector)	37.5	39.9	36.4	22.9	42.6

	12/15/25	2024	2023
Share Price CYE	$644.73	$584.15	$351.79
Market Cap CYE ($ Bil)	1,622.8	1,476.7	902.3
Total Debt ($ Bil)	51.1	49.1	37.2
Total Cash ($ Bil)	44.4	77.8	65.4
Enterprise Value ($ Bil)	1,629.4	1,525.8	939.5
Valuation Ratios
P/S TTM	9.8	9.0	6.8
P/EBIT TTM	21.7	20.8	19.0
P/E TTM	31.6	23.8	23.3
Sector Ratios
P/S TTM (Sector)	11.4	10.5	8.0
P/EBIT TTM (Sector)	29.1	31.2	26.5
P/E TTM (Sector)	37.5	39.9	36.4

	META	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	189.5
Rev Chg Q	26.2%	15.9%
Rev Chg LTM	21.3%	13.2%
Rev Chg 3Y Avg	17.3%	12.2%
PROFITABILITY	VERY GOOD
Op Inc LTM ($ Bil)	81.9
CFO LTM ($ Bil)	107.6
Net Inc LTM ($ Bil)	58.5
Op Mgn LTM	43.2%	37.5%
CFO/Rev LTM	56.8%	35.5%
Net Inc Mgn	30.9%	27.6%
VALUATION	VERY HIGH
P/S	9.8	11.4
P/CFO	17.2	30.6
P/FCF	41.3	54.0
P/E	31.6	37.5
STABILITY	VERY GOOD
Debt/Equity	0.03	0.03
Cash/Assets	0.15	0.16

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Family Daily Active People (DAP)	3.54 billion	9302025	Link
Family Monthly Active People (MAP)	3.98 billion	3312025	Link
Facebook Daily Active Users (DAUs)	2.11 billion	3312025	Link
Facebook Monthly Active Users (MAUs)	3.07 billion	3312025	Link
WhatsApp Monthly Active Users (MAUs)	3 billion	3312025	Link
Instagram Monthly Active Users (MAUs)	2 billion	3312025	Link
Threads Monthly Active Users (MAUs)	400 million	8312025	Link
Ad impressions growth (Year-over-Year)	14%	9302025	Link
Average price per ad growth (Year-over-Year)	10%	9302025	Link
Average Revenue per User (ARPU)	14.46 USD	9302025	Link

Upcoming
12/15/2025	Dividend	Amount: $0.53 Payment On: 12/23/2025
2/04/2026	Earnings Release	Rev: - EPS: -

META Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

Here are five key points explaining the approximate -12.7% stock movement for Meta Platforms (symbol: META) from August 31, 2025, to December 15, 2025: **1. Disappointing Q3 2025 Earnings Due to Significant One-Time Tax Charge.** Meta's reported Q3 2025 earnings per share (EPS) of $1.05 significantly missed analyst expectations, primarily due to a substantial one-time, non-cash tax charge of $15.9 billion. This tax hit dramatically reduced reported profits, overshadowing otherwise strong revenue growth and leading to an immediate stock drop of 8% to 11.5% in after-hours trading and the following day.

**2. Projected Increase in Capital Expenditures for AI Infrastructure.** Investors reacted negatively to Meta's outlook, which forecasted significantly higher operating and capital expenses in 2026, largely driven by plans to expand its AI infrastructure and increase technical staff compensation. The company also raised its full-year 2025 CapEx guidance to between $70 billion and $72 billion, intensifying concerns about future profitability and potential margin contraction.

**3. Investor Concerns Over Aggressive AI Investment Strategy and Potential Lagging in AI Race.** Reports suggesting Meta's plan to borrow $25 billion from capital markets specifically for AI infrastructure further fueled investor fears that the company might be lagging behind competitors in the AI race. CEO Mark Zuckerberg's statements about being "significantly more aggressive" in AI investment reinforced these concerns, with investors questioning the sustainability and immediate returns of such heavy capital allocation.

**4. Increased Regulatory Scrutiny and Compliance Costs in the EU.** Meta faced ongoing pressure from European Union regulators, which culminated in a decision to offer EU users more control over personalized ads starting in 2026 to comply with regulations like the Digital Markets Act. This, combined with past fines and new antitrust investigations, highlighted increasing regulatory hurdles and the potential for a negative impact on Meta's lucrative advertising business in a key market.

**5. Controversies Surrounding Content Moderation and Account Restrictions.** From October 2025, Meta removed or restricted dozens of accounts belonging to abortion access providers, queer groups, and reproductive health organizations globally, a move that campaigners dubbed one of the "biggest waves of censorship" in years. Such actions raised concerns about content moderation policies, potential user backlash, and reputational damage, which could negatively affect platform engagement and public perception.

Show less

Stock Movement Drivers

Fundamental Drivers

The -14.7% change in META stock from 9/14/2025 to 12/14/2025 was primarily driven by a -22.8% change in the company's Net Income Margin (%).

	9142025	12142025	Change
Stock Price ($)	755.08	644.23	-14.68%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	178804.00	189457.00	5.96%
Net Income Margin (%)	39.99%	30.89%	-22.75%
P/E Multiple	26.59	27.71	4.20%
Shares Outstanding (Mil)	2518.00	2517.00	0.04%
Cumulative Contribution			-14.68%

LTM = Last Twelve Months as of date shown

Market Drivers

9/14/2025 to 12/14/2025

	Return	Correlation
META	-14.7%
Market (SPY)	3.7%	50.4%
Sector (XLC)	-0.7%	57.7%

Fundamental Drivers

The -5.5% change in META stock from 6/15/2025 to 12/14/2025 was primarily driven by a -21.0% change in the company's Net Income Margin (%).

	6152025	12142025	Change
Stock Price ($)	681.88	644.23	-5.52%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	170359.00	189457.00	11.21%
Net Income Margin (%)	39.11%	30.89%	-21.02%
P/E Multiple	25.86	27.71	7.14%
Shares Outstanding (Mil)	2527.00	2517.00	0.40%
Cumulative Contribution			-5.52%

LTM = Last Twelve Months as of date shown

Market Drivers

6/15/2025 to 12/14/2025

	Return	Correlation
META	-5.5%
Market (SPY)	14.5%	47.2%
Sector (XLC)	13.9%	60.1%

Fundamental Drivers

The 4.2% change in META stock from 12/14/2024 to 12/14/2025 was primarily driven by a 21.3% change in the company's Total Revenues ($ Mil).

	12142024	12142025	Change
Stock Price ($)	618.41	644.23	4.18%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	156226.00	189457.00	21.27%
Net Income Margin (%)	35.55%	30.89%	-13.10%
P/E Multiple	28.16	27.71	-1.61%
Shares Outstanding (Mil)	2529.00	2517.00	0.47%
Cumulative Contribution			4.17%

LTM = Last Twelve Months as of date shown

Market Drivers

12/14/2024 to 12/14/2025

	Return	Correlation
META	4.2%
Market (SPY)	13.9%	71.2%
Sector (XLC)	16.4%	76.8%

Fundamental Drivers

The 458.1% change in META stock from 12/15/2022 to 12/14/2025 was primarily driven by a 158.0% change in the company's P/E Multiple.

	12152022	12142025	Change
Stock Price ($)	115.44	644.23	458.07%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	118115.00	189457.00	60.40%
Net Income Margin (%)	24.41%	30.89%	26.56%
P/E Multiple	10.74	27.71	158.00%
Shares Outstanding (Mil)	2682.00	2517.00	6.15%
Cumulative Contribution			455.96%

LTM = Last Twelve Months as of date shown

Market Drivers

12/15/2023 to 12/14/2025

	Return	Correlation
META	93.5%
Market (SPY)	48.0%	63.1%
Sector (XLC)	67.2%	76.3%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
META Return	33%	23%	-64%	194%	66%	12%	220%
Peers Return	122%	14%	-46%	68%	7%	10%	169%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	111%
Monthly Win Rates [3]
META Win Rate	58%	67%	33%	92%	67%	42%
Peers Win Rate	67%	58%	30%	68%	57%	53%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
META Max Drawdown	-29%	-10%	-74%	0%	-3%	-17%
Peers Max Drawdown	-27%	-15%	-53%	-7%	-18%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: GOOGL, AMZN, MSFT, SNAP, PINS. See META Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/12/2025 (YTD)

How Low Can It Go

Unique Key	Event	META	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-76.7%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	329.9%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	442 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-34.6%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	52.9%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	65 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-43.0%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	75.3%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	381 days	120 days

Compare to MSFT, GOOGL, Z, SNAP, STUB

In The Past

Meta Platforms's stock fell -76.7% during the 2022 Inflation Shock from a high on 9/7/2021. A -76.7% loss requires a 329.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Meta Platforms (META)

Meta Platforms, Inc. develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately. The Reality Labs segment provides augmented and virtual reality related products comprising virtual reality hardware, software, and content that help people feel connected, anytime, and anywhere. The company was formerly known as Facebook, Inc. and changed its name to Meta Platforms, Inc. in October 2021. Meta Platforms, Inc. was incorporated in 2004 and is headquartered in Menlo Park, California.

AI Generated Analysis | Feedback

```html

Here are 1-3 brief analogies for Meta Platforms:

Like Alphabet (Google's parent company), but focused on social media platforms and building virtual reality.
The Google of social networking and the metaverse, driven by advertising revenue.
Like Nintendo, but creating hardware and social experiences specifically for virtual reality.

```

AI Generated Analysis | Feedback

Facebook: A global social networking service for connecting with people, sharing updates, and discovering content. (Service - Social Networking)
Instagram: A visual social networking service focused on photo and video sharing, stories, and short-form reels. (Service - Social Networking)
WhatsApp: A secure messaging and voice-over-IP service enabling private and group communication globally. (Service - Communication)
Messenger: A communication service integrated with Facebook for text, voice, and video calls between users. (Service - Communication)
Quest VR Headsets: A line of virtual reality hardware providing immersive experiences for gaming, fitness, and metaverse exploration. (Product - Hardware)
Horizon Worlds: A virtual reality metaverse platform allowing users to create, explore, and interact in digital environments. (Service - Virtual Social Platform)
Advertising Services: A platform providing tools for businesses to create and deliver targeted advertisements across Meta's family of applications. (Service - Digital Advertising)

AI Generated Analysis | Feedback

Meta Platforms (symbol: META) primarily sells its services to other companies, making it a Business-to-Business (B2B) model. Its customers are advertisers.

The vast majority of Meta's revenue is generated from advertising services, which are purchased by businesses of all sizes to reach users across its platforms like Facebook, Instagram, Messenger, and WhatsApp. Due to the highly diversified and fragmented nature of its advertiser base, Meta does not have a concentrated customer base. This means there are no specific "major customers" that individually account for a significant portion of its revenue to be listed by name.

Instead, Meta serves millions of advertisers globally, ranging from small local businesses to large multinational corporations across virtually every industry sector. These advertisers utilize Meta's platforms for various marketing objectives, including brand awareness, lead generation, and direct sales.

AI Generated Analysis | Feedback

NVIDIA (NVDA)
Qualcomm (QCOM)
Taiwan Semiconductor Manufacturing Company (TSM)
Arista Networks (ANET)
Samsung Electronics (005930.KS)
Micron Technology (MU)
Quanta Computer (2382.TW)
Wistron (3231.TW)

AI Generated Analysis | Feedback

Mark Zuckerberg, Chief Executive Officer and Chairman

Mark Zuckerberg is the founder, CEO, and Chairman of Meta Platforms, which he originally founded as Facebook in 2004. He is responsible for setting the company's overall direction and product strategy. Before Facebook, Zuckerberg developed programs such as "ZuckNet" and a music player called "Synapse Media Player" in his youth. He co-founded Facebook with roommates Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes while attending Harvard University. Zuckerberg also co-founded and co-leads the Chan Zuckerberg Initiative (CZI) with his wife Priscilla Chan, which they established in 2015 to address societal challenges through technology, collaboration, and resources. Facebook went public in May 2012. While Meta (under Zuckerberg's leadership) has acquired numerous companies like Instagram, WhatsApp, and Oculus VR, there is no indication that Zuckerberg personally founded or managed other companies that he then sold to an acquirer outside of Meta's acquisitions. Early in Facebook's history, venture capitalist Peter Thiel provided seed money. However, there is no mentioned pattern of Zuckerberg managing companies specifically backed by private equity firms.

Susan Li, Chief Financial Officer

Susan Li became Meta's Chief Financial Officer in 2022. She joined Facebook (now Meta) in 2008 and has since risen through the ranks, previously serving as Vice President of Finance. As CFO, she oversees financial operations, investment planning, shareholder relations, and strategic forecasting, managing Meta's capital allocation across various initiatives including Reality Labs and AI infrastructure. Li started her career as an investment banking analyst at Morgan Stanley from 2005 to 2008. There is no information indicating that Susan Li founded or managed other companies prior to Meta, or that she sold companies she was previously involved with to an acquirer, nor is there a pattern of her managing companies backed by private equity firms.

Javier Olivan, Chief Operating Officer

Javier Olivan has been the Chief Operating Officer of Meta Platforms since 2022, succeeding Sheryl Sandberg. He joined Facebook (now Meta Platforms) in October 2007 as head of international growth. As a founding member of the growth team, he played a central role in the global expansion of Facebook, Instagram, and WhatsApp. Before joining Facebook, Olivan worked as a research and development engineer at Siemens in Munich and for NTT Data in Tokyo, and as a product manager at Siemens Mobile. He holds degrees in electrical and industrial engineering from the University of Navarra and an MBA from Stanford University.

Andrew Bosworth, Chief Technology Officer

Andrew "Boz" Bosworth has been the Chief Technology Officer at Meta since January 2022 and is also the Head of Reality Labs, the company's AR/VR organization which he established in 2017. He joined Facebook in January 2006 as one of its first 15 engineers. During his tenure, he helped create key products such as the Facebook News Feed, the original Facebook mobile ads platform, and the Facebook messaging system. Before leading Reality Labs, he ran the Ads and Business Platform product group, significantly increasing its annual revenue. Bosworth graduated from Harvard University in 2004, where he met Mark Zuckerberg while working as a teaching assistant.

Jennifer Newstead, Chief Legal Officer

Jennifer G. Newstead is the Chief Legal Officer of Meta, where she oversees all global legal matters, including corporate governance, product and regulatory counseling, litigation, and intellectual property. She joined Meta (then Facebook) in 2019. Prior to Meta, Newstead served as the Legal Adviser of the U.S. Department of State, leading the legal team advising the Secretary of State on domestic and international legal issues. Her career also includes roles as General Counsel of the White House Office of Management and Budget, Principal Deputy Assistant Attorney General at the Department of Justice, and Special Assistant to the President and Associate White House Counsel. She was also a partner at Davis Polk & Wardwell LLP for twelve years. Newstead holds an AB from Harvard University and a JD from Yale Law School.

AI Generated Analysis | Feedback

Apple's Vision Pro mixed-reality headset represents a clear emerging threat to Meta Platforms' Reality Labs division and its ambitious metaverse strategy. Launched in early 2024, the Vision Pro from a powerful competitor like Apple introduces a premium, high-fidelity "spatial computing" experience that directly challenges Meta's Quest line of VR headsets and its vision for the future of virtual and augmented reality. While Meta has focused on broader consumer adoption and gaming, Apple's entry could legitimize the high-end AR/VR market with a different approach, potentially fragmenting the developer ecosystem or setting a new standard for user experience that Meta may struggle to match with its current strategy.

AI Generated Analysis | Feedback

Meta Platforms, Inc. (META) operates across several large addressable markets, primarily in social media advertising and immersive technologies (metaverse, virtual reality, and augmented reality).

Social Media Advertising (Facebook and Instagram)

The global social media advertising market represents a significant addressable market for Meta. This market was valued at USD 374.01 billion in 2024 and is expected to grow to USD 468.91 billion by 2030. Another estimate projects the global social media advertising market size to reach USD 302.41 billion by 2032. North America was the dominating region in the global social media advertising market in 2024, driven by high digital ad spending and a strong social media user base. The Asia Pacific region is also expected to register a fast compound annual growth rate (CAGR) due to increased spending on social media advertising.

Facebook Advertising: Facebook's marketing strategy targets over 3 billion monthly active users globally.
Instagram Advertising: Instagram ads can reach approximately 1.74 billion users worldwide as of January 2025. Instagram's global ad revenue is projected to reach $69.7 billion in 2025.

WhatsApp's addressable market is defined by its vast global user base as a messaging service. WhatsApp had over 2.9 billion users worldwide in 2025. This number is projected to surpass 3.2 billion by the end of 2025. The service is available in 180 countries, indicating a broad global reach. While primarily a messaging platform, WhatsApp for Business generated $1.7 billion in 2024, indicating a growing commercial market.

Metaverse/Reality Labs (Virtual Reality and Augmented Reality)

Meta's investment in the metaverse and its underlying technologies (VR and AR) targets a rapidly expanding market.

Metaverse Market: The global metaverse market size was valued at USD 737.73 billion in 2024 and is projected to reach USD 7,639.70 billion by 2032, exhibiting a CAGR of 29.2% during the forecast period. Other estimates for the global metaverse market size in 2024 range from USD 105.40 billion to USD 132.60 billion. North America dominated the metaverse industry with a market share of 70.78% in 2024.
Virtual Reality (VR) Market: The global virtual reality market size was estimated at USD 59.96 billion in 2022 and is projected to reach USD 435.36 billion by 2030. Another report valued the global virtual reality market size at USD 53.53 billion in 2024, with an expected increase to USD 557.27 billion by 2034. The Asia Pacific region dominated the VR market with a 39.9% share in 2022.
Augmented Reality (AR) Market: The global augmented reality market size was estimated at USD 83.65 billion in 2024 and is projected to reach USD 599.59 billion by 2030. Another source indicates a market size of USD 93.67 billion in 2024, projected to grow to USD 1,716.37 billion by 2032. North America dominated the global AR market with a share of 31.29% in 2024.

AI Generated Analysis | Feedback

Meta Platforms (META) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:

AI-Powered Advertising Enhancements: Meta's significant investments in artificial intelligence are designed to enhance ad targeting precision and overall ad performance across its Family of Apps (Facebook, Instagram, WhatsApp). These AI advancements lead to improved returns on ad spending for advertisers, which in turn drives higher average ad prices and increased ad impressions. For example, AI content recommendations led to a 5% year-over-year increase in time spent on Facebook and a 10% increase on Threads in Q3, while advertisers using Meta's automated advertising tools, Advantage+, saw a 14% reduction in cost per lead. The rollout of the Lattice model for ad ranking also resulted in a 3% increase in ad conversions. Meta's AI-focused advertising tools are gaining solid traction, with its Advantage+ platform exceeding an annual revenue run rate of $20 billion in Q4 2024.
Expansion and Monetization of Business Messaging: The WhatsApp Business Platform is a rapidly growing revenue stream, particularly with the integration of AI-powered agents for customer support and sales. Mark Zuckerberg has indicated that business messaging should become the "next pillar" of Meta's business. This segment's revenue growth has been substantial, with "Family of Apps other revenue" (which includes business messaging) increasing by 48% in Q3 2024, primarily driven by WhatsApp Business Platform revenue growth. Analysts estimate Meta's business messaging market could generate $30-40 billion in revenue over time. High-growth markets like India, Indonesia, and Brazil are identified as key regions for this expansion.
Reels Monetization: Reels, the short-form video content format, is the fastest-growing content type on Meta's platforms. Meta is actively expanding its monetization programs for Reels creators, including a new payout model based on content performance rather than specific ad earnings, and broadening its Reels ads program to more users. Reels is already operating at an annualized revenue rate exceeding $50 billion. The company continues to develop new models to ensure creators are compensated, thereby encouraging more content creation on its platforms.
Threads Monetization: While newer, Threads is expected to emerge as a meaningful growth catalyst in the medium term. The platform has already surpassed 150 million daily active users. Successful execution of Meta's AI strategy and effective monetization of new platforms like Threads are seen by analysts as crucial for the company's path to future growth.

AI Generated Analysis | Feedback

Share Repurchases

Meta Platforms authorized an additional $50 billion for share repurchases in January 2024.
The company repurchased $29.75 billion of its Class A common stock in 2024.
In 2023, Meta's share repurchases totaled $19.774 billion, and in 2022, they amounted to $27.956 billion.

Share Issuance

Share-based compensation, which represents the primary form of share issuance, steadily increased from $6.5 billion in 2020 to $16.7 billion in 2024.

Outbound Investments

Meta has pursued an aggressive acquisition strategy in VR, AR, AI, and customer experience.
Significant acquisitions include Kustomer for approximately $1 billion in 2020 to enhance enterprise messaging, and Lemnis Technologies in 2020 for VR lens technology.
In June 2025, Meta Platforms made a multibillion-dollar investment into the AI startup Scale AI, which could exceed $10 billion.

Capital Expenditures

Meta's capital expenditures were approximately $39.23 billion in 2024, $27.266 billion in 2023, and $31.431 billion in 2022.
For 2025, capital expenditures are currently expected to be in the range of $70-72 billion, with projections indicating they will be "notably larger" in 2026, potentially exceeding $103 billion.
The primary focus of these expenditures is to support artificial intelligence efforts, including generative AI, building data centers, and developing powerful AI training clusters, as well as core business needs.

Interactive Breakdown

Meta Platforms Interactive Breakdown Analysis

Better Bets than Meta Platforms (META)

	META	Better Performance than META
Metric	Value	INDUSTRY: Interactive Media & Services
Rev Chg LTM	21.3%	RDDT (69.7%), EVER (57.8%), QNST (43.1%), GENI (30.7%), NRDS (24.7%)
Rev Chg 3Y Avg	17.3%	RUM (95.9%), RDDT (45.3%), GENI (23.8%), EVER (20.7%), NRDS (17.3%)
Op Mgn LTM	43.2%
CFO/Rev LTM	56.8%
FCF/Rev LTM	23.7%	GTM (28.0%), MTCH (27.7%), PINS (27.7%), CARG (27.2%), RDDT (26.8%)
Total Yield	3.5%	UPWK (10.1%), PINS (9.1%), MTCH (8.3%), GOOGL (4.6%), CARG (4.2%)
P/S	9.8	PINS (5.4), ZG (7.3), Z (7.5), GOOGL (7.6), SPOT (8.5)
P/Op Inc	22.6	MTCH (10.2), YELP (10.4), GTM (17.1), CARG (17.6), UPWK (21.4)

	META	Better Performance than META
Metric	Value	SECTOR: Communication Services
Rev Chg LTM	21.3%	LBRDA (108.2%), AD (91.1%), RDDT (69.7%), TDS (59.7%), RBLX (32.7%)
Rev Chg 3Y Avg	17.3%	RDDT (45.3%), RBLX (26.5%), GSAT (24.1%), TTD (23.5%), LYV (18.6%)
Op Mgn LTM	43.2%
CFO/Rev LTM	56.8%	GSAT (299.9%)
FCF/Rev LTM	23.7%	TKO (37.0%), PINS (27.7%), RDDT (26.8%), RBLX (26.1%), TTD (24.3%)
Total Yield	3.5%	VZ (16.8%), T (11.0%), DIS (6.6%), TMUS (5.9%), GOOGL (4.6%)
P/S	9.8	VZ (1.4), T (1.6), DIS (2.1), TMUS (3.1), GOOGL (7.6)
P/Op Inc	22.6	CMCSA (5.2), VZ (5.9), T (8.3), TMUS (13.9), DIS (14.9)

	META	Better Performance than META
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	21.3%	NVDA (65.2%), PLTR (47.2%), LLY (36.8%), AMD (31.8%), AVGO (28.0%)
Rev Chg 3Y Avg	17.3%	NVDA (91.6%), PLTR (29.3%), AVGO (24.0%), LLY (23.4%), BRK-B (19.8%)
Op Mgn LTM	43.2%	V (66.4%), NVDA (58.8%), MA (58.3%), APP (52.5%), MSFT (46.3%)
CFO/Rev LTM	56.8%	RY (83.0%), CME (65.0%), PLD (59.3%), V (57.6%), BAC (57.3%)
FCF/Rev LTM	23.7%	V (53.9%), MA (52.5%), AVGO (41.6%), NVDA (41.3%), MSFT (26.6%)
Total Yield	3.5%	XOM (9.8%), JNJ (8.4%), JPM (6.7%), BRK-B (6.2%), WMT (3.7%)
P/S	9.8	WMT (1.2), BRK-B (2.7), AMZN (3.5), JPM (4.9), AAPL (9.3)
P/Op Inc	22.6	UNH (11.9), V (16.6), PG (17.5), JNJ (18.5), HD (18.7)

		Best Bets In Communication Services Sector
	META	META	TTD	MTCH	PINS	GOOGL	CARG	NXST	T	UPWK	FWONA
What You Pay
P/E	31.6	31.6	54.5	15.1	11.0	23.6	24.0	11.6	9.1	9.9	11.5
P/EBIT	21.7	21.7	45.3	10.2	77.8	19.3	17.6	5.5	5.8	21.4	68.0
What You Get
Rev Chg Q	26.2%	26.2%	17.7%	2.1%	16.8%	15.9%	3.2%	-12.3%	1.6%	4.1%	19.1%
Rev Chg LTM	21.3%	21.3%	20.8%	-0.5%	16.8%	13.4%	4.2%	-1.4%	2.0%	2.5%	8.7%
Rev Chg 3Y Avg	17.3%	17.3%	23.5%	2.7%	13.6%	11.0%	-15.9%	1.2%	1.1%	9.7%	16.5%
FCF/Rev 3Y Avg	29.0%	29.0%	26.6%	25.8%	22.9%	20.5%	18.6%	17.6%	16.3%	15.4%	14.7%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 12%, alpha of 0.5%, and sharpe of 0.56

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Meta Platforms Earnings Notes
2	Things To Be Wary Of When Buying Meta Platforms Stock	Buy or Fear
3	What Could Spark the Next Big Move In Meta Platforms Stock
4	Is 20.5% Fall In Meta Platforms (META) Stock A Buying Opportunity?	Actionable
5	With Meta Platforms Stock Surging, Have You Considered The Downside?	Return
6	Day 8 of Gains Streak for Meta Platforms Stock with 5.5% Return (vs. 29% YTD) [10/28/2025]	Notification
7	Day 7 of Gains Streak for Meta Platforms Stock with 5.4% Return (vs. 29% YTD) [10/27/2025]	Notification
8	What Could Send Meta Platforms Stock Soaring
9	What Can Trigger Meta Platforms Stock's Slide?
10	What Can Trigger Meta Platforms Stock's Slide?
11	ARTICLES
12	Meta Platforms Stock To $838?		December 13th, 2025
13	META Tops Alphabet Stock on Price & Potential		December 13th, 2025
14	Meta Platforms Stock at Support Zone – Bargain or Trap?		December 12th, 2025
15	Between Meta Platforms and Pinterest, Which Stock Looks Set to Break Out?		December 5th, 2025
16	Better Value & Growth: META Leads Alphabet Stock		December 2nd, 2025

	Title
0	DASHBOARDS
1	Meta Platforms Earnings Notes
2	Things To Be Wary Of When Buying Meta Platforms Stock
3	What Could Spark the Next Big Move In Meta Platforms Stock
4	Is 20.5% Fall In Meta Platforms (META) Stock A Buying Opportunity?
5	With Meta Platforms Stock Surging, Have You Considered The Downside?
6	Day 8 of Gains Streak for Meta Platforms Stock with 5.5% Return (vs. 29% YTD) [10/28/2025]
7	Day 7 of Gains Streak for Meta Platforms Stock with 5.4% Return (vs. 29% YTD) [10/27/2025]
8	What Could Send Meta Platforms Stock Soaring
9	What Can Trigger Meta Platforms Stock's Slide?
10	What Can Trigger Meta Platforms Stock's Slide?
11	ARTICLES
12	Meta Platforms Stock To $838?
13	META Tops Alphabet Stock on Price & Potential
14	Meta Platforms Stock at Support Zone – Bargain or Trap?
15	Between Meta Platforms and Pinterest, Which Stock Looks Set to Break Out?
16	Better Value & Growth: META Leads Alphabet Stock

Trade Ideas

Select past ideas related to META. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
PINS_11302025_Monopoly_xInd_xCD_Getting_Cheaper	11302025	PINS	Pinterest	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-0.5%	-0.5%	-0.5%
TMUS_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	TMUS	T-Mobile US	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-6.4%	-6.4%	-6.4%
Z_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	Z	Zillow	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	5.0%	5.0%	0.0%
IRDM_11072025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11072025	IRDM	Iridium Communications	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	11.6%	11.6%	-5.6%
TTD_10032025_Dip_Buyer_High_CFO_Margins_ExInd_DE	10032025	TTD	Trade Desk	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	-28.9%	-28.9%	-28.9%
META_4302024_Quality_Momentum_RoomToRun_10%	04302024	META	Meta Platforms	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	38.2%	28.1%	0.0%
META_11302022_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302022	META	Meta Platforms	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	124.1%	177.0%	-3.5%
META_5312022_Dip_Buyer_FCFYield	05312022	META	Meta Platforms	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-43.5%	36.7%	-54.1%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
PINS_11302025_Monopoly_xInd_xCD_Getting_Cheaper	11302025	PINS	Pinterest	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-0.5%	-0.5%	-0.5%
TMUS_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	TMUS	T-Mobile US	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-6.4%	-6.4%	-6.4%
Z_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	Z	Zillow	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	5.0%	5.0%	0.0%
IRDM_11072025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11072025	IRDM	Iridium Communications	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	11.6%	11.6%	-5.6%
TTD_10032025_Dip_Buyer_High_CFO_Margins_ExInd_DE	10032025	TTD	Trade Desk	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	-28.9%	-28.9%	-28.9%
META_4302024_Quality_Momentum_RoomToRun_10%	04302024	META	Meta Platforms	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	38.2%	28.1%	0.0%
META_11302022_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302022	META	Meta Platforms	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	124.1%	177.0%	-3.5%
META_5312022_Dip_Buyer_FCFYield	05312022	META	Meta Platforms	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-43.5%	36.7%	-54.1%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TLRY	Tilray Brands	12.9	44.1%	-8.6%
RZLT	Rezolute	0.2	28.6%	-63.3%
CRON	Cronos	1.3	14.7%	61.9%
YOU	Clear Secure	4.0	13.3%	58.5%
RIVN	Rivian Automotive	22.5	12.1%	38.5%
EVCM	EverCommerce	2.2	10.9%	9.7%
LULU	Lululemon Athletica	24.5	9.6%	-46.4%
NX	Quanex Building Products	0.8	9.5%	-30.9%
OXM	Oxford Industries	0.5	9.4%	-53.1%
IIPR	Innovative Industrial Properties	1.6	8.9%	-5.9%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FRMI	Fermi	7.1	-33.8%
LENZ	LENZ Therapeutics	0.5	-26.0%	-37.2%
AIP	Arteris	0.7	-17.2%	59.9%
MOD	Modine Manufacturing	7.4	-15.3%	20.7%
FBYD	Falcons Beyond Global	0.4	-15.2%	40.7%
OKLO	Oklo	12.2	-15.1%	311.8%
SEI	Solaris Energy Infrastructure	2.0	-14.8%	62.6%
SNDK	SanDisk	30.1	-14.7%
NXDR	Nextdoor	0.9	-14.4%
RCUS	Arcus Biosciences	2.3	-14.4%	44.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
WVE	WAVE Life Sciences	2.7	121.1%	33.9%
TLRY	Tilray Brands	12.9	65.3%	-8.6%
TERN	Terns Pharmaceuticals	4.1	53.3%	712.3%
PLAB	Photronics	2.1	50.4%	54.1%
FULC	Fulcrum Therapeutics	0.8	46.1%	176.6%
WRBY	Warby Parker	3.4	46.0%	13.2%
PL	Planet Labs PBC	5.5	42.8%	351.5%
ALEX	Alexander & Baldwin	1.5	37.5%	22.5%
KYMR	Kymera Therapeutics	7.8	34.6%	122.9%
CRON	Cronos	1.3	31.3%	61.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
RZLT	Rezolute	0.2	-82.7%	-63.3%
FBYD	Falcons Beyond Global	0.4	-44.0%	40.7%
FRMI	Fermi	7.1	-33.4%
LENZ	LENZ Therapeutics	0.5	-32.1%	-37.2%
GOGO	Gogo	0.7	-27.9%	-37.1%
ELVN	Enliven Therapeutics	0.9	-22.7%	-25.1%
CRK	Comstock Resources	6.3	-20.8%	18.9%
BE	Bloom Energy	22.3	-20.3%	327.6%
PHR	Phreesia	1.0	-19.9%	-35.4%
MVST	Microvast	1.0	-19.7%	45.4%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.8	310.0%	466.9%
WVE	WAVE Life Sciences	2.7	138.1%	33.9%
TERN	Terns Pharmaceuticals	4.1	121.7%	712.3%
ALMS	Alumis	0.9	119.3%	46.2%
CDTX	Cidara Therapeutics	5.9	106.0%	720.9%
SGML	Sigma Lithium	1.2	87.2%	-2.6%
ANNX	Annexon	0.7	75.0%	-3.1%
NUVB	Nuvation Bio	2.9	71.0%	216.9%
ARWR	Arrowhead Pharmaceuticals	9.7	69.2%	272.8%
SVRA	Savara	1.5	68.0%	125.4%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.2	-82.0%	-63.3%
FRMI	Fermi	7.1	-53.6%
JANX	Janux Therapeutics	0.9	-46.4%	-71.4%
UP	Wheels Up Experience	0.5	-41.9%	-57.4%
AGIO	Agios Pharmaceuticals	1.6	-37.5%	-17.0%
ARDT	Ardent Health	1.2	-37.4%	-48.5%
CTEV	Claritev	0.6	-36.1%
METC	Ramaco Resources	1.0	-35.9%	54.3%
QURE	uniQure	1.1	-35.2%	10.5%
IBTA	Ibotta	0.6	-34.6%	-67.1%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TLRY	Tilray Brands	12.9	44.1%	-8.6%
RZLT	Rezolute	0.2	28.6%	-63.3%
CRON	Cronos	1.3	14.7%	61.9%
YOU	Clear Secure	4.0	13.3%	58.5%
RIVN	Rivian Automotive	22.5	12.1%	38.5%
EVCM	EverCommerce	2.2	10.9%	9.7%
LULU	Lululemon Athletica	24.5	9.6%	-46.4%
NX	Quanex Building Products	0.8	9.5%	-30.9%
OXM	Oxford Industries	0.5	9.4%	-53.1%
IIPR	Innovative Industrial Properties	1.6	8.9%	-5.9%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FRMI	Fermi	7.1	-33.8%
LENZ	LENZ Therapeutics	0.5	-26.0%	-37.2%
AIP	Arteris	0.7	-17.2%	59.9%
MOD	Modine Manufacturing	7.4	-15.3%	20.7%
FBYD	Falcons Beyond Global	0.4	-15.2%	40.7%
OKLO	Oklo	12.2	-15.1%	311.8%
SEI	Solaris Energy Infrastructure	2.0	-14.8%	62.6%
SNDK	SanDisk	30.1	-14.7%
NXDR	Nextdoor	0.9	-14.4%
RCUS	Arcus Biosciences	2.3	-14.4%	44.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
WVE	WAVE Life Sciences	2.7	121.1%	33.9%
TLRY	Tilray Brands	12.9	65.3%	-8.6%
TERN	Terns Pharmaceuticals	4.1	53.3%	712.3%
PLAB	Photronics	2.1	50.4%	54.1%
FULC	Fulcrum Therapeutics	0.8	46.1%	176.6%
WRBY	Warby Parker	3.4	46.0%	13.2%
PL	Planet Labs PBC	5.5	42.8%	351.5%
ALEX	Alexander & Baldwin	1.5	37.5%	22.5%
KYMR	Kymera Therapeutics	7.8	34.6%	122.9%
CRON	Cronos	1.3	31.3%	61.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
RZLT	Rezolute	0.2	-82.7%	-63.3%
FBYD	Falcons Beyond Global	0.4	-44.0%	40.7%
FRMI	Fermi	7.1	-33.4%
LENZ	LENZ Therapeutics	0.5	-32.1%	-37.2%
GOGO	Gogo	0.7	-27.9%	-37.1%
ELVN	Enliven Therapeutics	0.9	-22.7%	-25.1%
CRK	Comstock Resources	6.3	-20.8%	18.9%
BE	Bloom Energy	22.3	-20.3%	327.6%
PHR	Phreesia	1.0	-19.9%	-35.4%
MVST	Microvast	1.0	-19.7%	45.4%

Peer Comparisons for Meta Platforms

Peers to compare with:

Financials

	META	GOOGL	AMZN	MSFT	SNAP	PINS	Median
Name	Meta Pla.	Alphabet	Amazon.c.	Microsoft	Snap	Pinterest
Mkt Price	644.23	309.29	226.19	478.53	7.31	25.99	267.74
Mkt Cap	1,621.5	3,738.1	2,406.0	3,556.9	12.4	17.6	2,013.8
Rev LTM	189,457	385,477	670,038	293,812	5,772	4,057	241,634
Op Inc LTM	81,895	124,077	76,190	135,937	-609	280	79,042
FCF LTM	44,841	73,552	13,481	78,017	414	1,122	29,161
FCF 3Y Avg	45,044	68,998	21,677	71,302	188	825	33,360
CFO LTM	107,574	151,424	121,137	147,039	617	1,147	114,356
CFO 3Y Avg	85,513	120,990	96,977	121,384	391	843	91,245

Growth & Margins

	META	GOOGL	AMZN	MSFT	SNAP	PINS	Median
Name	Meta Pla.	Alphabet	Amazon.c.	Microsoft	Snap	Pinterest
Rev Chg LTM	21.3%	13.4%	10.9%	15.6%	11.7%	16.8%	14.5%
Rev Chg 3Y Avg	17.3%	11.0%	11.3%	13.2%	8.1%	13.6%	12.2%
Rev Chg Q	26.2%	15.9%	13.3%	18.4%	9.8%	16.8%	16.4%
QoQ Delta Rev Chg LTM	6.0%	3.8%	3.0%	4.3%	2.4%	3.9%	3.8%
Op Mgn LTM	43.2%	32.2%	11.4%	46.3%	-10.5%	6.9%	21.8%
Op Mgn 3Y Avg	37.4%	29.9%	7.9%	44.6%	-20.6%	-0.2%	18.9%
QoQ Delta Op Mgn LTM	-0.8%	-0.5%	0.3%	0.6%	1.0%	1.4%	0.5%
CFO/Rev LTM	56.8%	39.3%	18.1%	50.0%	10.7%	28.3%	33.8%
CFO/Rev 3Y Avg	54.0%	35.3%	15.8%	47.2%	7.3%	23.4%	29.4%
FCF/Rev LTM	23.7%	19.1%	2.0%	26.6%	7.2%	27.7%	21.4%
FCF/Rev 3Y Avg	29.0%	20.5%	3.5%	28.0%	3.4%	22.9%	21.7%

Valuation

	META	GOOGL	AMZN	MSFT	SNAP	PINS	Median
Name	Meta Pla.	Alphabet	Amazon.c.	Microsoft	Snap	Pinterest
Mkt Cap	1,621.5	3,738.1	2,406.0	3,556.9	12.4	17.6	2,013.8
P/S	9.8	7.6	3.5	13.1	2.3	5.4	6.5
P/EBIT	21.7	19.3	27.4	29.6	-34.1	77.8	24.6
P/E	31.6	23.6	33.1	36.7	-26.3	11.0	27.6
P/CFO	17.2	19.4	19.3	26.2	21.2	19.0	19.3
Total Yield	3.5%	4.6%	3.0%	3.4%	-3.8%	9.1%	3.4%
Dividend Yield	0.3%	0.3%	0.0%	0.6%	0.0%	0.0%	0.1%
FCF Yield 3Y Avg	3.6%	3.3%	1.1%	2.3%	1.3%	3.9%	2.8%
D/E	0.0	0.0	0.1	0.0	0.3	0.0	0.0
Net D/E	0.0	-0.0	0.0	-0.0	0.1	-0.1	-0.0

Returns

	META	GOOGL	AMZN	MSFT	SNAP	PINS	Median
Name	Meta Pla.	Alphabet	Amazon.c.	Microsoft	Snap	Pinterest
1M Rtn	5.7%	12.0%	-3.6%	-6.2%	-14.7%	-2.4%	-3.0%
3M Rtn	-14.7%	28.5%	-0.9%	-6.0%	-0.4%	-25.8%	-3.4%
6M Rtn	-5.5%	77.3%	6.6%	1.1%	-7.9%	-23.2%	-2.2%
12M Rtn	4.2%	63.6%	-0.6%	7.8%	-35.4%	-15.2%	1.8%
3Y Rtn	458.1%	243.0%	155.7%	96.8%	-16.6%	3.3%	126.2%
1M Excs Rtn	6.1%	8.3%	-7.0%	-5.9%	-19.2%	-4.5%	-5.2%
3M Excs Rtn	-19.0%	19.8%	-5.5%	-10.2%	-5.2%	-31.5%	-7.8%
6M Excs Rtn	-19.8%	63.1%	-7.6%	-13.1%	-22.2%	-37.4%	-16.4%
12M Excs Rtn	-8.8%	54.6%	-12.6%	-4.4%	-54.2%	-31.5%	-10.7%
3Y Excs Rtn	395.4%	154.7%	82.1%	27.0%	-95.0%	-59.0%	54.5%

Comparison Analyses

	Title
0	Meta Platforms vs. Home Depot: With Return Forecast Of 28%, Meta Platforms Is A Better Bet
1	Meta Platforms vs. Chevron: With Return Forecast Of 28%, Meta Platforms Is A Better Bet
2	Meta Platforms vs. Elevance Health: With Return Forecast Of 40%, Elevance Health Is A Better Bet
3	Meta Platforms vs. Alphabet: With Return Forecast Of 28%-30%, Both Seem Like Good Bets
4	Meta Platforms vs. Alphabet: With Return Forecast Of 28%-30%, Both Seem Like Good Bets
5	Meta Platforms vs. Zoom Communications: With Return Forecast Of 30%, Meta Platforms Is A Better Bet
6	Meta Platforms vs. Pinterest: With Return Forecast Of 43%, Pinterest Is A Better Bet
7	Meta Platforms vs. General Motors: With Return Forecast Of 41%, General Motors Is A Better Bet
8	Meta Platforms vs. NVIDIA: With Return Forecast Of 43%, NVIDIA Is A Better Bet
9	Meta Platforms vs. Verizon Communications: With Return Forecast Of 24%, Meta Platforms Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/30/2025	1/30/2025	2/2/2024	2/2/2023	2/3/2022	1/28/2021	1/30/2020
Key Financials
Total Revenue	189,457	164,501	134,902	116,609	117,929	85,965	70,697
EBITDA	102,755	86,876	59,052	37,690	55,274	39,533	34,727
Operating Income	81,895	69,380	46,751	28,944	46,753	32,671	28,986
Net Income	58,528	62,360	39,098	23,200	39,370	29,146	18,485
EPS	23.19	24.61	15.19	8.63	13.99	10.22	6.48
Growth Rates
Total Revenue Growth	21.3%	21.9%	15.7%	-1.1%	37.2%	21.6%	26.6%
EBITDA Growth	30.5%	47.1%	56.7%	-31.8%	39.8%	13.8%	18.8%
Operating Income Growth	31.2%	48.4%	61.5%	-38.1%	43.1%	12.7%	16.3%
Net Income Growth	5.4%	59.5%	68.5%	-41.1%	35.1%	57.7%	-16.4%
Margins
EBITDA Margin	54.2%	52.8%	43.8%	32.3%	46.9%	46.0%	49.1%
Operating Income Margin	43.2%	42.2%	34.7%	24.8%	39.6%	38.0%	41.0%
Net Income Margin	30.9%	37.9%	29.0%	19.9%	33.4%	33.9%	26.1%
Cash & Debt
Total Cash	44,448	77,815	65,403	40,738	47,998	61,954	54,855
Total Debt	51,060	49,060	37,234	26,591	13,873	10,654	10,324
Net Debt / (Cash)	6,612	-28,755	-28,169	-14,147	-34,125	-51,300	-44,531
Cash Flows
Net Cash from Operations	107,574	91,328	71,113	50,475	57,683	38,747	36,314
Free Cash from Operations	44,841	54,072	44,068	19,289	38,993	23,584	21,212
Returns to Shareholders
Dividends	5,256	5,072	-0	-0	-0	-0	-0
Share Repurchases	26,248	30,125	19,774	27,956	44,537	6,272	4,202

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/30/2025	7/31/2025	5/1/2025	1/30/2025	10/31/2024	8/1/2024	4/25/2024	2/2/2024	10/26/2023	7/27/2023	4/27/2023	2/2/2023
Key Financials Quarterly
Total Revenue	51,242	47,516	42,314	48,385	40,589	39,071	36,455	40,111	34,146	31,999	28,645	32,165
Ebitda	26,853	25,117	22,522	28,263	22,057	18,871	17,684	20,115	17,018	12,032	9,886	8,635
Operating Income	20,535	20,441	17,555	23,364	17,350	14,847	13,818	16,384	13,748	9,392	7,227	6,399
Net Income	2,709	18,337	16,644	20,838	15,688	13,465	12,369	14,017	11,583	7,788	5,709	4,653
EPS	1.08	7.28	6.59	8.24	6.20	5.31	4.86	5.46	4.50	3.03	2.21	1.76
Key Financials TTM
Total Revenue TTM	189,457	178,804	170,359	164,500	156,226	149,783	142,711	134,901	126,955	120,523	117,346	116,609
Ebitda TTM	102,755	97,959	91,713	86,875	78,727	73,688	66,849	59,051	47,571	38,369	36,507	37,690
Operating Income TTM	81,895	78,710	73,116	69,379	62,399	58,797	53,342	46,751	36,766	28,682	27,648	28,945
Net Income TTM	58,528	71,507	66,635	62,360	55,539	51,434	45,757	39,097	29,733	22,545	21,444	23,200
Growth Rates Quarterly
Total Revenue Growth	26.2%	21.6%	16.1%	20.6%	18.9%	22.1%	27.3%	24.7%	23.2%	11.0%	2.6%	-4.5%
EBITDA Growth	21.7%	33.1%	27.4%	40.5%	29.6%	56.8%	78.9%	132.9%	117.7%	18.3%	-10.7%	-43.0%
Operating Income Growth	18.4%	37.7%	27.0%	42.6%	26.2%	58.1%	91.2%	156.0%	142.7%	12.4%	-15.2%	-49.2%
Net Income Growth	-82.7%	36.2%	34.6%	48.7%	35.4%	72.9%	116.7%	201.2%	163.5%	16.5%	-23.5%	-54.8%
Margins Quarterly
EBITDA Margin	52.4%	52.9%	53.2%	58.4%	54.3%	48.3%	48.5%	50.1%	49.8%	37.6%	34.5%	26.8%
Operating Income Margin	40.1%	43.0%	41.5%	48.3%	42.7%	38.0%	37.9%	40.8%	40.3%	29.4%	25.2%	19.9%
Net Income Margin	5.3%	38.6%	39.3%	43.1%	38.7%	34.5%	33.9%	34.9%	33.9%	24.3%	19.9%	14.5%
Cash & Debt
Total Cash	44,448	47,071	70,230	77,815	70,900	58,080	58,120	65,403	61,123	53,446	37,439	40,738
Total Debt	51,060	49,560	49,519	49,060	49,047	37,991	37,633	37,234	36,217	36,218	27,575	26,591
Net Debt / (Cash)	6,612	2,489	-20,711	-28,755	-21,853	-20,089	-20,487	-28,169	-24,906	-17,228	-9,864	-14,147
Cash Flows Quarterly
FCF from Operations	29,999	25,561	24,026	27,988	24,724	19,370	19,246	19,404	20,402	17,309	13,998	14,511
Cash Flows TTM
FCF from Operations TTM	107,574	102,299	96,108	91,328	82,744	78,422	76,361	71,113	66,220	55,510	50,397	50,475
Returns to Shareholders Quarterly
Dividends	1,330	1,327	1,329	1,270	1,263	1,266	1,273	0	0	0	0	0
Share Repurchases	3,327	10,167	12,754	-0	8,818	6,299	15,008	5,942	3,569	898	9,365	6,863
Return on Invested Capital (ROIC) Quarterly
ROIC	10.4%	80.0%	100.9%	160.9%	105.9%	95.4%	92.3%	127.3%	106.2%	64.5%	42.1%	41.4%
Return on Invested Capital (ROIC) TTM
ROIC TTM	57.5%	76.9%	103.3%	119.2%	94.0%	90.7%	86.0%	89.8%	69.5%	46.8%	40.6%	49.8%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Family of Apps	133,006	114,450	115,655	84,826
Reality Labs	1,896	2,159	2,274	1,139
Single Segment					70,697
Total	134,902	116,609	117,929	85,965	70,697

Operating Income by Segment

$ Mil	2024	2023	2022	2021
Family of Apps	62,871	42,661	56,946	39,294
Reality Labs	-16,120	-13,717	-10,193	-6,623
Total	46,751	28,944	46,753	32,671

Price Behavior

Price Behavior

Market Price	$644.23
Market Cap ($ Bil)	1,621.5
First Trading Date	05/18/2012
Distance from 52W High	-18.4%
	50 Days	200 Days
DMA Price	$667.46	$670.61
DMA Trend	down	down
Distance from DMA	-3.5%	-3.9%
	3M	1YR
Volatility	33.5%	38.4%
Downside Capture	180.30	129.02
Upside Capture	69.94	116.71
Correlation (SPY)	50.0%	71.2%

META Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.99	1.46	1.35	1.46	1.38	1.52
Up Beta	2.94	2.23	2.15	2.37	1.52	1.72
Down Beta	0.02	1.29	1.58	1.54	1.38	1.37
Up Capture	18%	62%	42%	86%	139%	626%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	7	22	31	60	128	399
Down Capture	89%	177%	149%	137%	116%	105%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	12	19	31	65	120	349

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of META With Other Asset Classes (Last 1Y)
	META	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	5.3%	18.9%	13.8%	61.2%	3.6%	-3.9%	-7.4%
Annualized Volatility	38.1%	18.9%	19.7%	19.4%	15.9%	17.7%	35.6%
Sharpe Ratio	0.21	0.78	0.54	2.34	0.04	-0.38	-0.05
Correlation With Other Assets		76.8%	71.2%	-8.1%	18.8%	31.3%	32.0%

ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of META With Other Asset Classes (Last 5Y)
	META	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	18.3%	12.7%	14.5%	18.1%	11.5%	4.4%	36.1%
Annualized Volatility	43.4%	20.9%	17.1%	15.5%	18.9%	18.9%	48.9%
Sharpe Ratio	0.53	0.52	0.69	0.94	0.50	0.15	0.63
Correlation With Other Assets		82.4%	62.3%	3.3%	7.8%	33.3%	21.4%

Based On 10-Year Data

		Comparison of META With Other Asset Classes (Last 10Y)
	META	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	19.8%	13.0%	14.4%	14.3%	5.8%	5.3%	73.6%
Annualized Volatility	38.5%	22.6%	18.0%	14.7%	17.7%	20.8%	55.9%
Sharpe Ratio	0.60	0.53	0.69	0.80	0.26	0.22	0.93
Correlation With Other Assets		82.2%	61.5%	2.6%	15.6%	35.8%	16.6%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	32,396,587
Short Interest: % Change Since 11152025	7.4%
Average Daily Volume	20,089,981
Days-to-Cover Short Interest	1.61
Basic Shares Quantity	2,517,000,000
Short % of Basic Shares	1.3%

Returns Analyses

	Title
0	With Meta Platforms Stock Surging, Have You Considered The Downside?
1	Meta Platforms (META) Stock Has >90% Chance Of Rise In The Next One Month
2	Meta Platforms Stock Return Comparison
3	Meta Platforms (FB) Stock Has 61% Chance Of Rise In The Next One Month
4	[10/13/2021] Facebook (FB) Stock Price Forecast: AI Forecasts FB Stock Price To Be Around $335 In A Month (Up 3.2%)
5	Meta Platforms Total Shareholder Return (TSR): -64.2% in 2022 and -16.3% 3-yr returns (below peer average)

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/29/2025	-11.3%	-15.4%	-14.7%
7/30/2025	11.3%	11.0%	8.0%
4/30/2025	4.2%	8.7%	17.9%
1/29/2025	1.6%	4.2%	-1.2%
10/30/2024	-4.1%	-3.3%	-3.0%
7/31/2024	4.8%	3.0%	9.1%
4/24/2024	-10.6%	-11.0%	-5.6%
2/1/2024	20.3%	19.1%	26.3%
...
SUMMARY STATS
# Positive	12	15	12
# Negative	12	9	12
Median Positive	7.7%	7.4%	14.4%
Median Negative	-5.7%	-5.9%	-4.6%
Max Positive	23.3%	27.7%	26.3%
Max Negative	-26.4%	-30.3%	-38.1%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10302025	10-Q 9/30/2025
6302025	7312025	10-Q 6/30/2025
3312025	5012025	10-Q 3/31/2025
12312024	1302025	10-K 12/31/2024
9302024	10312024	10-Q 9/30/2024
6302024	8012024	10-Q 6/30/2024
3312024	4252024	10-Q 3/31/2024
12312023	2022024	10-K 12/31/2023
9302023	10262023	10-Q 9/30/2023
6302023	7272023	10-Q 6/30/2023
3312023	4272023	10-Q 3/31/2023
12312022	2022023	10-K 12/31/2022
9302022	10272022	10-Q 9/30/2022
6302022	7282022	10-Q 6/30/2022
3312022	4282022	10-Q 3/31/2022
12312021	2032022	10-K 12/31/2021

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Meta Platforms (META)

Market Price (12/15/2025): $644.73 | Market Cap: $1.6 TrilSector: Communication Services | Industry: Interactive Media & Services

Meta Platforms (META)

Market Price (12/15/2025): $644.73Market Cap: $1.6 TrilSector: Communication ServicesIndustry: Interactive Media & Services

Valuation, Metrics & Events

META Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Meta Platforms (META)

Social Media Advertising (Facebook and Instagram)

WhatsApp

Metaverse/Reality Labs (Virtual Reality and Augmented Reality)

Interactive Breakdown

Better Bets than Meta Platforms (META)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

1 Month Top Gainers

1 Month Top Losers

Recent Active Movers

1 Day Top Gainers

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1 Week Top Gainers

1 Week Top Losers

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Financials

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Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Insider Activity

Industry Resources

External Quote Links

Market Price (12/15/2025): $644.73 | Market Cap: $1.6 Tril
Sector: Communication Services | Industry: Interactive Media & Services

Market Price (12/15/2025): $644.73
Market Cap: $1.6 Tril
Sector: Communication Services
Industry: Interactive Media & Services