Decide at what price you'd be comfortable buying and we'll help you stay ready.
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.
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.
Whether operating cash flow again covers capital expenditures across subsequent quarters will clarify if the latest free-cash-flow shortfall persists.
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 27.6B | 40.7B | 55.8B | 70.7B | 86B | 117.9B | 116.6B | 134.9B | 164.5B | 201B | |
| (3.8B) | (5.5B) | (9.4B) | (12.8B) | (16.7B) | (22.6B) | (23.8B) | (26B) | (30.1B) | (36.2B) | |
| 23.8B | 35.2B | 46.5B | 57.9B | 69.3B | 95.3B | 92.9B | 108.9B | 134.4B | 164.8B | |
| (11.4B) | (15B) | (21.6B) | (28.9B) | (36.6B) | (48.5B) | (59.3B) | (58.7B) | (64.6B) | (81.5B) | |
| (5.5B) | (7.2B) | (11.3B) | (15.3B) | (18.2B) | (23.9B) | (25.7B) | (22.2B) | (21B) | (24.1B) | |
| (5.9B) | (7.8B) | (10.3B) | (13.6B) | (18.4B) | (24.7B) | (33.6B) | (36.5B) | (43.6B) | (57.4B) | |
| 12.4B | 20.2B | 24.9B | 29B | 32.7B | 46.8B | 33.6B | 50.2B | 69.8B | 83.3B | |
| 90m | 386m | 439m | 799m | 543m | 321m | 195m | 827m | 1.1B | 1.7B | |
| 10m | 6m | 9m | 20m | — | — | 185m | 446m | 715m | 1.2B | |
| — | — | — | (5B) | — | — | (4.6B) | (3.5B) | (389m) | — | |
| 1m | 5m | 9m | 27m | (34m) | 210m | (320m) | (150m) | 171m | 933m | |
| 12.5B | 20.6B | 25.4B | 24.8B | 33.2B | 47.3B | 28.8B | 47.4B | 70.7B | 85.9B | |
| (2.3B) | (2.4B) | (3.2B) | (6.3B) | (4B) | (7.9B) | (5.3B) | (7.8B) | (7.6B) | (11.4B) | |
| 10.2B | 18.2B | 22.1B | 18.5B | 29.1B | 39.4B | 23.6B | 39.7B | 63.1B | 74.5B | |
| 10.2B | 15.9B | 22.1B | 18.5B | 29.1B | 39.4B | 23.2B | 39.1B | 62.4B | 60.5B | |
| 3.49 | 5.38 | 7.57 | 6.43 | 10.09 | 13.77 | 8.58 | 14.87 | 23.85 | 23.48 |
Alpha Spread
Preferences
We rebuilt our DCF valuation models from the ground up and upgraded how Intrinsic Value is calculated. Alpha Spread now selects the method that best fits each company.
You can now see how the new methodology performed across thousands of stocks on our new Valuation Backtest page. We update the results at the end of every month.
New to Alpha Spread? Create free account
By using Alpha Spread you are agreeing to our Terms of Service and Privacy Policy.
Already have an account? Sign in
Stock intrinsic value is the real worth of a company's stock, based on its financial health and performance.
Instead of looking at the stock's current market price, which can change due to people's opinions and emotions, intrinsic value helps us understand if a stock is truly a good deal or not.
By focusing on the company's actual financial strength, like its earnings and debts, we can make better decisions about which stocks to buy and when.
Read more