Earnings quality
Compare earnings and operating cash flow for earnings quality.
Meta Platforms, Inc.
Ticker META · 🇺🇸 United States · Consolidated US GAAP · amounts in dollars
Filed 2026-01-29 · Period end 2025-12-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 41.4%; equity ratio is 59.4%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin41.4%
Equity ratio59.4%
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
Meta Platforms, Inc. is a US-listed company with consolidated financial statements filed on SEC EDGAR.
Financial statements
Income statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Revenue | $164.5B | $201.0B |
| Cost of sales* | — | — |
| Gross profit | — | — |
| Operating profit | $69.4B | $83.3B |
| Income tax | $8.3B | $25.5B |
| Net income | $62.4B | $60.5B |
| Basic EPS | 24.61 | 23.98 |
Balance sheet
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Cash & equivalents | $43.9B | $35.9B |
| Current assets | $100.0B | $108.7B |
| Non-current assets* | $176.0B | $257.3B |
| Total assets | $276.1B | $366.0B |
| Current liabilities | $33.6B | $41.8B |
| Non-current liabilities* | $59.8B | $106.9B |
| Total liabilities | $93.4B | $148.8B |
| Stockholders’ equity | $182.6B | $217.2B |
Cash flow statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Operating cash flow | $91.3B | $115.8B |
| Investing cash flow | -$47.1B | -$102.0B |
| Financing cash flow | -$40.8B | -$20.4B |
| Cash at end of period | $43.9B | $35.9B |
Five-year trends
Key metrics
| Metric | Trend | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $117.9B | $116.6B | $134.9B | $164.5B | $201.0B | |
| Operating profit | $46.8B | $28.9B | $46.8B | $69.4B | $83.3B | |
| Net income | $39.4B | $23.2B | $39.1B | $62.4B | $60.5B | |
| Total assets | $166.0B | $185.7B | $229.6B | $276.1B | $366.0B | |
| Cash & equivalents | $16.6B | $14.7B | $41.9B | $43.9B | $35.9B | |
| Stockholders’ equity | $124.9B | $125.7B | $153.2B | $182.6B | $217.2B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Constructive
Sales and operating profit both moved in a healthier direction.
On the income statement, revenue moved from $164.5B to $201.0B (▲ +22.2%). Operating profit went from $69.4B to $83.3B (▲ +20.0%).
Operating cash flow was $115.8B (prior $91.3B), with cash on the balance sheet at $35.9B versus $43.9B.
Liquidity & leverage
Cash moved from $43.9B to $35.9B; current liabilities $41.8B.
Capital buffer
Stockholders’ equity moved from $182.6B to $217.2B.
Was this page helpful?
Source: SEC EDGAR 0001628280-26-003942
(Meta Platforms, Inc.), period end 2025-12-31.