FB2A Balance Sheet - Meta Platforms Inc

Watchlist Manager

Watchlist

Price: 562.2 EUR -2.82%

Market Cap: €1.4T

Financial profile · Q3 FY2026

A profitable advertising platform shifting toward AI infrastructure-heavy investment

Meta has historically combined advertising-led growth with substantial operating profitability and operating cash generation that exceeded capital spending. The expanding infrastructure program is making the business more capital intensive and reducing how much operating cash converts into free cash flow.

What is developing

The latest report shows advertising growth continuing while capital spending exceeded quarterly operating cash flow, leaving quarterly free cash flow negative even though trailing-year free cash flow remained positive. This signals a meaningful investment-phase shift, but not yet a demonstrated break in the broader earnings model.

What matters next

Whether operating cash flow again covers capital expenditures across subsequent quarters will clarify if the latest free-cash-flow shortfall persists.

Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Cash & Cash Equivalents	8.9B	8.1B	10B	19.1B	17.6B	16.6B	14.7B	41.9B	43.9B	35.9B
Cash	1.4B	2.2B	2.7B	4.7B	6.5B	7.3B	6.2B	6.3B	7.2B	4.4B
Cash Equivalents	7.5B	5.9B	7.3B	14.3B	11.1B	9.3B	8.5B	35.6B	36.7B	31.5B
Short-Term Investments	20.5B	33.6B	31.1B	35.8B	44.4B	31.4B	26.1B	23.5B	33.9B	45.7B
Total Receivables	4B	5.8B	7.6B	9.5B	11.3B	14B	13.5B	16.2B	17B	19.8B
Accounts Receivables	4B	5.8B	7.6B	9.5B	11.3B	14B	13.5B	16.2B	17B	19.8B
Other Receivables	0	0	0	0	0	0	0	0	0	0
Other Current Assets	959m	1B	1.8B	1.9B	2.4B	4.6B	5.3B	3.8B	5.2B	7.4B
Total Current Assets	34.4B	48.6B	50.5B	66.2B	75.7B	66.7B	59.5B	85.4B	100B	108.7B
PP&E Net	8.6B	13.7B	24.7B	44.8B	55B	70B	92.2B	109.9B	136.3B	196.8B
PP&E Gross	8.6B	13.7B	24.7B	44.8B	55B	70B	92.2B	109.9B	136.3B	196.8B
Accumulated Depreciation	(3.2B)	(4.6B)	(6.9B)	(10.7B)	(15.4B)	(20.1B)	(25B)	(33.1B)	(43.3B)	(57.3B)
Intangible Assets	2.5B	1.9B	1.3B	894m	623m	634m	897m	788m	915m	3.7B
Goodwill	18.1B	18.2B	18.3B	18.7B	19.1B	19.2B	20.3B	20.7B	20.7B	24.5B
Long-Term Investments	—	—	—	86m	6.2B	6.8B	6.2B	6.1B	6.1B	27.5B
Other Long-Term Assets	1.3B	2.1B	2.6B	2.7B	2.8B	2.8B	6.6B	6.8B	12.1B	4.7B
Other Assets	18.1B	18.2B	18.3B	18.7B	19.1B	19.2B	20.3B	20.7B	20.7B	24.5B
Total Assets	65B	84.5B	97.3B	133.4B	159.3B	166B	185.7B	229.6B	276.1B	366B
Accounts Payable	582m	770m	1.4B	2.2B	2.4B	5.1B	6.1B	5.7B	7.7B	8.9B
Accrued Liabilities	1.2B	1.5B	2.7B	9.1B	6.7B	8.9B	13.7B	17.1B	16.4B	20.6B
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Current Portion of Long-Term Debt	0	—	0	55m	54m	75m	129m	90m	76m	308m
Other Current Liabilities	1.1B	1.5B	2.9B	3.6B	5.8B	7B	7.1B	9.1B	9.4B	12B
Deferred Revenue	90m	98m	147m	269m	382m	561m	—	—	—	—
Total Current Liabilities	2.9B	3.8B	7B	15.1B	15B	21.1B	27B	32B	33.6B	41.8B
Long-Term Debt	0	0	0	418m	469m	506m	10.5B	19B	29.5B	59.6B
Deferred Income Tax	—	—	673m	1B	—	—	—	—	—	—
Other Liabilities	2.9B	6.4B	5.5B	15.8B	15.6B	19.5B	22.5B	25.5B	30.4B	47.3B
Total Liabilities	5.8B	10.2B	13.2B	32.3B	31B	41.1B	60B	76.5B	93.4B	148.8B
Common Stock	0	0	0	17k	17k	17k	38k	15k	15k	15k
Retained Earnings	21.7B	34B	42B	55.7B	77.3B	69.8B	64.8B	82.1B	102.5B	121.2B
Additional Paid In Capital	38.2B	40.6B	42.9B	45.9B	50B	55.8B	64.4B	73.3B	83.2B	95.8B
Unrealized Security Profit/Loss	(121m)	(211m)	—	—	—	—	—	—	—	—
Other Equity	(582m)	(16m)	(760m)	(489m)	927m	(693m)	(3.5B)	(2.2B)	(3.1B)	271m
Total Equity	59.2B	74.3B	84.1B	101.1B	128.3B	124.9B	125.7B	153.2B	182.6B	217.2B
Total Liabilities & Equity	65B	84.5B	97.3B	133.4B	159.3B	166B	185.7B	229.6B	276.1B	366B
Common Shares Outstanding	2.9B	2.9B	2.9B	2.9B	2.8B	2.7B	2.6B	2.6B	2.5B	2.5B