META Meta Platforms, Inc.

Overview and Growth

In fiscal 2025, Meta Platforms, Inc. recorded $200.97B of revenue, net income of $60.46B, and an operating cash inflow of $115.80B. At $200.97B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $164.50B in fiscal 2024, revenue recorded a 22.2% year-over-year increase. The company reported diluted EPS of $23.49, adding a shareholder-level measure to the absolute income figures considered below. Against diluted EPS of $23.86 in fiscal 2024, the current result was 1.6% lower. The revenue-to-assets relationship was 0.55x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The first profit layer was $164.79B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross profit represented 82.0% of revenue, showing how much of the top line remained after direct costs. Operating income was $83.28B, the earnings remaining from reported operations after the company’s recognized operating cost structure. Relative to revenue, operating income represented 41.4%, showing how efficiently sales converted into operating profit. Net income came to $60.46B, completing the progression from revenue through gross and operating profitability to the final reported result. Measured against reported revenue, net income produced a 30.1% margin after operating costs and the remaining recognized items. Pretax income was $85.93B, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Pretax income represented 42.8% of revenue, placing earnings before tax in the context of the company’s operating scale. The reported income-tax provision was $25.47B, the amount recognized between pretax income and the final net-income result. The effective relationship between income tax and positive pretax income was 29.6%, without assuming a statutory-rate comparison.

Liquidity and Capital Structure

Total assets were $366.02B, supported by $148.78B of liabilities and $217.24B of shareholder equity. The near-term balance sheet paired $108.72B of current assets with $41.84B of current liabilities at the reporting date. The current ratio was 2.6x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Cash and equivalents totaled $35.87B, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 85.7% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Total debt was $58.74B, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 0.27x, showing how much debt the company carried for each unit of book equity. Debt represented 16.0% of total assets, placing borrowing in the context of the company’s full resource base. Relative to total assets, liabilities measured 40.6%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 9.8%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $276.05B in fiscal 2024, the current asset base moved 32.6% and finished higher.

Cash Flow and Earnings Quality

Cash flow from operations was $115.80B, a reported cash inflow that can be compared directly with net income and capital spending. The operating-cash-flow-to-net-income relationship was 1.92x, comparing cash generated by operations with the bottom-line earnings result. Capital expenditures used $69.69B, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital expenditures represented 60.2% of operating cash flow, leaving the remainder available as free cash flow. The combination of operating cash flow and capital spending produced $46.11B of positive free cash flow for the period. The free-cash-flow margin was 22.9%, measuring cash remaining after capital spending against revenue. The free-cash-flow-to-assets relationship was 12.6%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.