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Owns Facebook, Instagram and WhatsApp, selling advertising against billions of users, and invests heavily in AI.
Owns Facebook, Instagram and WhatsApp, selling advertising against billions of users, and invests heavily in AI.
Earns almost all of its income from advertising on Facebook, Instagram and its messaging apps, sold by auction, while Reality Labs, the headset and smart-glasses unit, runs at a loss. Co-founder Mark Zuckerberg keeps voting control through a share class with extra votes. The company was renamed from Facebook in 2021.
Moat: wide (network effects, scale, data). Billions of daily users and social graphs create powerful network effects that are hard to replicate.
Headquarters: Menlo Park, California, US · Founded: 2004 · Employees: 78,865
Size Meta Platforms (META) is a United States Communication Services company (Internet Software/Services) with a market value of $1.56T, the 8th largest of 3,117 United States companies the cockpit tracks. Shares closed at $610.15 on 6 Nov 2026.
Performance Over six months the shares gained 0.2%, against -3.8% for the median peer and -1.1% for the United States market (cap-weighted) — 8th highest of 19 in its peer set.
Growth Revenue grew 27.5% over the last twelve months (peer median +13.4%); the operating margin is 32.9% (peer median 18.6%).
Valuation It trades at 19.0× forward earnings against a peer median of 15.4× (8th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 9.9 points above its cost of capital (10.9% WACC).
Credit Meta Platforms has 31 bonds outstanding ($83.9B), rated AA- by the agencies and trading like BBB- at a weighted spread of 141 bp.
Short interest Short interest is 1.3% of the free float (15 Oct 2026).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $242B | $201B | $165B | $135B | $117B |
| Revenue growth | — | +22% | +22% | +16% | — |
| Gross profit | $196B | $165B | $134B | $109B | $92.9B |
| EBITDA | $104B | $102B | $85.3B | $61.4B | $42.2B |
| Net income | $75.2B | $60.5B | $62.4B | $39.1B | $23.2B |
| Free cash flow | $28.6B | $46.1B | $54.1B | $43.8B | $19.0B |
| Capital expenditure | $104B | $69.7B | $37.3B | $27.3B | $31.4B |
| Total debt | $112B | $85.1B | $49.8B | $37.9B | $27.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Meta Platforms META | $1.56T | 0% | +28% | 33% | 19.0× | 16.6% |
| Alphabet Inc. (Class A) GOOGL | $3.47T | -29% | +22% | 33% | 20.5× | 18.5% |
| Snap SNAP | $8.39B | -18% | +13% | -5% | 32.3× | 2.7% |
| Pinterest PINS | $10.9B | -11% | +15% | 6% | 8.8× | 16.2% |
| Reddit RDDT | $18.4B | -39% | +62% | 29% | 15.0× | 18.0% |
| Tencent 0700.HK | $482B | -11% | +16% | 32% | 12.5× | 6.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | META | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.4% | -2.9% | 4th lowest of 19 |
| 6-month return | +0.2% | -3.8% | 8th highest of 19 |
| Distance from 52-week high | -21.8% | -31.2% | 7th highest of 19 |
| Revenue growth (TTM) | +27.5% | +13.4% | 3rd highest of 19 |
| Operating margin | 32.9% | 18.6% | 2nd highest of 19 |
| Forward P/E | 19.0× | 15.4× | 8th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 16.6% | 7.9% | 6th most demanding of 17 |
| Growth delivered (Del g) | +18.5% | +12.7% | 6th highest of 17 |
| Hurdle (Req g minus delivered) | -1.9 pp | -6.9 pp | 6th most demanding of 17 |
| ROIC minus cost of capital | +9.9 pp | +14.6 pp | 8th lowest of 17 |
| EV / EBITDA | 15.2× | 11.9× | 8th most expensive of 17 |
| Net debt / EBITDA | 0.3× | -1.2× | 4th most indebted of 18 |
| Bond spread | 141 bp | 64 bp | widest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Meta Platforms META | United States | $1.56T | 0% | +28% | 33% | 19.0× | 16.6% | +18.5% |
| Alphabet Inc. (Class A) GOOGL | United States | $3.47T | -29% | +22% | 33% | 20.5× | 18.5% | +17.2% |
| Netflix NFLX | United States | $260B | -28% | +15% | 32% | 17.7× | 15.0% | +12.6% |
| Recruit 6098.T | Japan | $149B | +133% | +9% | 20% | 30.3× | 22.0% | +10.3% |
| Spotify Technology SPOT | United States | $124B | +44% | +17% | 15% | 37.4× | 29.4% | +16.6% |
| Liberty Media FWONA | United States | $27.3B | +18% | +12% | 12% | 51.0× | 29.0% | +31.4% |
| Bidu-sw 9888.HK | Hong Kong | $26.4B | -43% | -1% | 7% | 14.5× | n/a | n/a |
| Reddit RDDT | United States | $18.4B | -39% | +62% | 29% | 15.0× | 18.0% | +57.3% |
| Tencent Music Entertainment 1698.HK | Hong Kong | $13.9B | -2% | +16% | 29% | 11.0× | 0.6% | +1.7% |
| Nexon 3659.T | Japan | $13.8B | +10% | +15% | 26% | 22.4× | -9.1% | +10.1% |
| Pinterest PINS | United States | $10.9B | -11% | +15% | 6% | 8.8× | 16.2% | +20.1% |
| Match MTCH | United States | $8.88B | +6% | 0% | 30% | 13.6× | 1.8% | +7.8% |
| Cyber Agent 4751.T | Japan | $4.13B | +3% | +14% | 10% | 15.4× | -11.3% | +12.8% |
| CarGurus CARG | United States | $3.01B | -3% | +6% | 26% | 12.1× | 2.7% | +10.5% |
| China Ruyi 0136.HK | Hong Kong | $2.82B | -5% | -40% | -17% | 12.6× | 13.1% | +69.6% |
| Autohome 2518.HK | Hong Kong | $2.70B | +21% | -22% | 0% | 22.7× | -15.3% | -6.4% |
| NetEase Cloud Music 9899.HK | Hong Kong | $2.52B | -21% | +6% | 17% | 10.1× | -18.7% | +8.9% |
| RUM RUM | United States | $2.44B | -41% | +13% | -101% | n/a | n/a | n/a |
| Grindr GRND | United States | $2.35B | -10% | +32% | 31% | 19.7× | -6.0% | +31.1% |
Meta Platforms has 31 bonds outstanding with $83.9B face value. The agencies rate it AA-; its bonds trade like BBB-. Weighted yield 6.35%, a spread of 141 bp over government bonds.