Latest Ratios: P/E Ratio 26.2x · EV/EBITDA 15.8x · ROE 30.2%. (2010–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.56T | $1.70T | $1.53T | $930.6B | $325.2B | $961.6B | $788.9B | $590.3B | $382.9B | $521.6B | $336.5B |
| Enterprise Value | $1.61T | $1.75T | $1.54T | $925.9B | $337.1B | $958.9B | $782.0B | $581.8B | $373.4B | $513.9B | $327.6B |
| P/E Ratio → | 26.21 | 28.10 | 24.54 | 23.80 | 14.01 | 24.43 | 27.07 | 31.92 | 17.32 | 32.74 | 32.97 |
| P/S Ratio | 7.76 | 8.45 | 9.30 | 6.90 | 2.79 | 8.15 | 9.18 | 8.35 | 6.86 | 12.83 | 12.18 |
| P/B Ratio | 7.29 | 7.82 | 8.38 | 6.08 | 2.59 | 7.70 | 6.15 | 5.84 | 4.55 | 7.02 | 5.69 |
| P/FCF | 33.83 | 36.85 | 28.31 | 21.22 | 17.07 | 24.58 | 33.38 | 27.83 | 24.93 | 29.84 | 28.97 |
| P/OCF | 13.47 | 14.67 | 16.76 | 13.09 | 6.44 | 16.67 | 20.36 | 16.26 | 13.08 | 21.54 | 20.89 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 8.69 | 9.34 | 6.86 | 2.89 | 8.13 | 9.10 | 8.23 | 6.69 | 12.64 | 11.85 |
| EV / EBITDA | 15.78 | 17.15 | 18.09 | 15.98 | 8.96 | 17.52 | 19.78 | 19.57 | 12.78 | 22.12 | 22.18 |
| EV / EBIT | 19.31 | 20.33 | 21.51 | 19.34 | 11.62 | 20.27 | 23.93 | 20.07 | 14.99 | 24.95 | 26.36 |
| EV / FCF | — | 37.89 | 28.40 | 21.12 | 17.70 | 24.51 | 33.09 | 27.43 | 24.31 | 29.39 | 28.20 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.0% | 82.0% | 81.7% | 80.8% | 78.3% | 80.8% | 80.6% | 81.9% | 83.2% | 86.6% | 86.3% |
| Operating Margin | 41.4% | 41.4% | 42.2% | 34.7% | 24.8% | 39.6% | 38.0% | 33.9% | 44.6% | 49.7% | 45.0% |
| Net Profit Margin | 30.1% | 30.1% | 37.9% | 29.0% | 19.9% | 33.4% | 33.9% | 26.1% | 39.6% | 39.2% | 36.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 30.2% | 30.2% | 37.1% | 28.0% | 18.5% | 31.1% | 25.4% | 20.0% | 27.9% | 23.8% | 19.7% |
| ROA | 18.8% | 18.8% | 24.7% | 18.8% | 13.2% | 24.2% | 19.9% | 16.0% | 24.3% | 21.3% | 17.8% |
| ROIC | 27.6% | 27.6% | 30.9% | 24.5% | 16.7% | 28.8% | 22.9% | 21.5% | 26.5% | 25.9% | 20.7% |
| ROCE | 29.4% | 29.4% | 31.5% | 26.2% | 19.1% | 32.3% | 24.9% | 23.0% | 29.1% | 28.3% | 22.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.39 | 0.39 | 0.27 | 0.24 | 0.21 | 0.11 | 0.08 | 0.10 | 0.01 | 0.00 | — |
| Debt / EBITDA | 0.82 | 0.82 | 0.58 | 0.64 | 0.71 | 0.25 | 0.27 | 0.36 | 0.02 | 0.01 | — |
| Net Debt / Equity | — | 0.22 | 0.03 | -0.03 | 0.09 | -0.02 | -0.05 | -0.08 | -0.11 | -0.10 | -0.15 |
| Net Debt / EBITDA | 0.47 | 0.47 | 0.06 | -0.08 | 0.32 | -0.05 | -0.18 | -0.29 | -0.33 | -0.33 | -0.60 |
| Debt / FCF | — | 1.04 | 0.10 | -0.11 | 0.63 | -0.07 | -0.29 | -0.40 | -0.62 | -0.44 | -0.77 |
| Interest Coverage | — | — | 99.83 | 107.34 | 156.78 | 2056.83 | — | 1449.30 | 2768.11 | 3433.33 | 1242.70 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.60 | 2.60 | 2.98 | 2.67 | 2.20 | 3.15 | 5.05 | 4.40 | 7.19 | 12.92 | 11.97 |
| Quick Ratio | 2.60 | 2.60 | 2.98 | 2.67 | 2.20 | 3.15 | 5.05 | 4.40 | 7.19 | 12.92 | 11.97 |
| Cash Ratio | 1.95 | 1.95 | 2.32 | 2.05 | 1.51 | 2.27 | 4.14 | 3.64 | 5.86 | 11.09 | 10.24 |
| Asset Turnover | — | 0.55 | 0.60 | 0.59 | 0.63 | 0.71 | 0.54 | 0.53 | 0.57 | 0.48 | 0.43 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 35.91 | 37.71 | 43.75 | 42.15 | 43.45 | 48.13 | 49.14 | 49.59 | 52.36 | 52.73 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.3% | 0.3% | 0.3% | — | — | — | — | — | — | — | — |
| Payout Ratio | 8.8% | 8.8% | 8.1% | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.8% | 3.6% | 4.1% | 4.2% | 7.1% | 4.1% | 3.7% | 3.1% | 5.8% | 3.1% | 3.0% |
| FCF Yield | 3.0% | 2.7% | 3.5% | 4.7% | 5.9% | 4.1% | 3.0% | 3.6% | 4.0% | 3.4% | 3.5% |
| Buyback Yield | 1.7% | 1.5% | 2.0% | 2.1% | 8.6% | 4.6% | 0.8% | 0.7% | 3.4% | 0.4% | 0.0% |
| Total Shareholder Yield | 2.0% | 1.9% | 2.3% | 2.1% | 8.6% | 4.6% | 0.8% | 0.7% | 3.4% | 0.4% | 0.0% |
| Shares Outstanding | — | $2.6B | $2.6B | $2.6B | $2.7B | $2.9B | $2.9B | $2.9B | $2.9B | $3.0B | $2.9B |
High AI Infrastructure Capex
According to current market data, Meta trades at a forward P/E of 16.72, which appears conservative relative to its 33.1% revenue growth rate, suggesting that investors are applying a conglomerate discount due to the persistent, high-risk capital allocation toward the Reality Labs and AI infrastructure segments.
The current P/E multiple suggests the market remains skeptical of the long-term ROI on massive AI-related capital expenditures, pricing the stock more like a mature advertising utility than a high-growth technology platform. This valuation gap relative to peers like Alphabet may indicate that the market is waiting for clearer evidence of monetization from the company's recent open-source AI initiatives.
Based on reported financial statements, Meta's ROIC has fluctuated between 6.0% and 9.8% over the last ten quarters, indicating that the aggressive expansion of the asset base is currently outpacing the incremental returns generated by the core advertising business and the nascent Reality Labs division.
The compression in ROIC suggests that the company is in a heavy investment phase where the denominator of the ratio is growing faster than the operating income. Investors should monitor whether the transition to GPU-intensive infrastructure eventually yields a higher-margin advertising product or if the capital intensity remains a permanent drag on compounding returns.
As evidenced by recent quarterly filings, Meta maintains a consistent DSO of approximately 30 days, which suggests that the company retains strong leverage over its advertising customers despite the broader macroeconomic volatility that often impacts the digital marketing spend of smaller, less-capitalized competitors in the sector.
The stability in the cash conversion cycle highlights the strength of the company's automated, real-time bidding auction model, which minimizes the risk of extended payment terms. This efficiency is a critical differentiator, as it allows Meta to recycle cash into its massive infrastructure buildout without relying heavily on external financing for working capital needs.
According to the latest balance sheet data, Meta's debt-to-EBITDA ratio of 3.01 remains well within manageable levels, providing the company with significant financial flexibility to continue its aggressive investment in AI hardware while simultaneously returning capital to shareholders through dividends and ongoing share repurchase programs.
While debt levels have increased to support the infrastructure buildout, the interest coverage remains robust, suggesting that the company is not currently constrained by its leverage profile. The ability to maintain this balance sheet health while funding multi-billion dollar R&D projects appears to be a key pillar of management's current capital allocation strategy.
The P/E ratio is frequently misapplied to Meta because it fails to account for the massive, discretionary R&D losses in Reality Labs, which artificially depress earnings and obscure the true, high-margin earning power of the core Family of Apps advertising business that drives the company's valuation.
Analysts should instead focus on an adjusted EV/EBITDA or a segment-specific valuation that strips out the experimental hardware losses to better understand the underlying cash-generating capability. Relying on headline P/E metrics may lead to an incorrect assessment of the company's growth-adjusted valuation, as it treats long-term strategic investments as if they were recurring operational costs.
Includes 30+ ratios · 16 years · Updated daily
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Quick answers to the most common questions about buying META stock.
Meta Platforms, Inc.'s current P/E ratio is 26.2x. The historical average is 38.5x. This places it at the 38th percentile of its historical range.
Meta Platforms, Inc.'s current EV/EBITDA is 15.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 25.0x.
Meta Platforms, Inc.'s return on equity (ROE) is 30.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 21.2%.
Based on historical data, Meta Platforms, Inc. is trading at a P/E of 26.2x. This is at the 38th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Meta Platforms, Inc.'s current dividend yield is 0.34% with a payout ratio of 8.8%.
Meta Platforms, Inc. has 82.0% gross margin and 41.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Meta Platforms, Inc.'s Debt/EBITDA ratio is 0.8x, indicating low leverage. A ratio below 2x is generally considered financially healthy.