Financials Meta Platforms, Inc.

Equities

US30303M1027

Internet Services

Real-time Estimate Cboe BZX Other stock markets 12:40:06 2025-12-05 EST			5-day change	1st Jan Change
673.38 ^USD	+1.79%		+4.07%	+15.16%

10:41am	Global markets live: Netflix, Visa, Airbus, Ferrovial, Leonardo…
10:23am	USA Today Co., Inc. and Meta Announce Multi-Year AI Licensing Partnership	CI

Projected Income Statement: Meta Platforms, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	85,965	117,929	116,609	134,902	164,501	199,453	235,054	271,605
Change	-	37.18%	-1.12%	15.69%	21.94%	21.25%	17.85%	15.55%
EBITDA ¹	46,069	63,884	49,622	71,956	101,568	121,735	139,194	163,641
Change	-	38.67%	-22.32%	45.01%	41.15%	19.86%	14.34%	17.56%
EBIT ¹	32,671	46,753	28,944	46,751	69,380	82,328	86,186	98,623
Change	-	43.1%	-38.09%	61.52%	48.4%	18.66%	4.69%	14.43%
Interest Paid	-	-	-125	677	1,283	-	-27	-349
Earnings before Tax (EBT) ¹	33,180	47,284	28,819	47,428	70,663	84,493	87,387	99,420
Change	-	42.51%	-39.05%	64.57%	48.99%	19.57%	3.42%	13.77%
Net income ¹	29,146	39,370	23,200	39,098	62,360	59,526	76,212	85,263
Change	-	35.08%	-41.07%	68.53%	59.5%	-4.54%	28.03%	11.88%
Announcement Date	1/27/21	2/2/22	2/1/23	2/1/24	1/29/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	28,072	26,171	29,077	29,010	33,671	27,908	28,822	27,714	32,165	28,645	31,999	34,146	40,111	36,455	39,071	40,589	48,385	42,314	47,516	51,242	58,314	51,113	56,154	59,836	68,518	59,989	66,747	71,112
Change	-	-6.77%	11.1%	-0.23%	16.07%	-17.12%	3.28%	-3.84%	16.06%	-10.94%	11.71%	6.71%	17.47%	-9.11%	7.18%	3.89%	19.21%	-12.55%	12.29%	7.84%	13.8%	-12.35%	9.86%	6.56%	14.51%	-12.45%	11.26%	6.54%
EBITDA ¹	16,422	15,180	16,900	14,797	17,006	13,178	13,688	10,973	11,783	12,802	16,075	20,098	22,980	20,754	23,100	25,627	32,087	25,602	29,617	31,053	34,984	29,466	33,267	34,999	40,144	34,747	39,941	40,704
Change	-	-7.56%	11.33%	-12.44%	14.93%	-22.51%	3.87%	-19.83%	7.38%	8.65%	25.57%	25.03%	14.34%	-9.69%	11.3%	10.94%	25.21%	-20.21%	15.68%	4.85%	12.66%	-15.77%	12.9%	5.21%	14.7%	-13.44%	14.95%	1.91%
EBIT ¹	12,775	11,378	12,367	10,423	12,585	8,524	8,358	5,664	6,399	7,227	9,392	13,748	16,384	13,818	14,847	17,350	23,365	17,555	20,441	20,535	23,820	18,215	20,452	21,171	25,647	-	-	-
Change	-	-10.94%	8.69%	-15.72%	20.74%	-32.27%	-1.95%	-32.23%	12.98%	12.94%	29.96%	46.38%	19.17%	-15.66%	7.45%	16.86%	34.67%	-24.87%	16.44%	0.46%	16%	-23.53%	12.29%	3.51%	21.14%	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-88	-250	80	-99	272	424	365	259	472	188	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	13,055	11,503	12,513	10,565	12,702	8,908	8,186	5,576	6,149	7,307	9,293	14,020	16,808	14,183	15,106	17,822	23,553	18,382	20,534	21,663	24,004	18,523	20,879	21,983	26,196	20,898	24,327	24,316
Change	-	-11.89%	8.78%	-15.57%	20.23%	-29.87%	-8.11%	-31.88%	10.28%	18.83%	27.18%	50.87%	19.89%	-15.62%	6.51%	17.98%	32.16%	-21.95%	11.71%	5.5%	10.81%	-22.83%	12.72%	5.29%	19.16%	-20.22%	16.41%	-0.04%
Net income ¹	11,219	9,497	10,394	9,194	10,285	7,465	6,687	4,395	4,652	5,709	7,788	11,583	14,017	12,369	13,465	15,688	20,838	16,644	18,337	2,709	20,906	16,196	18,169	19,015	22,744	18,182	21,167	21,154
Change	-	-15.35%	9.45%	-11.55%	11.87%	-27.42%	-10.42%	-34.28%	5.85%	22.72%	36.42%	48.73%	21.01%	-11.76%	8.86%	16.51%	32.83%	-20.13%	10.17%	-85.23%	671.73%	-22.53%	12.18%	4.66%	19.61%	-20.06%	16.42%	-0.06%
Announcement Date	1/27/21	4/28/21	7/28/21	10/25/21	2/2/22	4/27/22	7/27/22	10/26/22	2/1/23	4/26/23	7/26/23	10/25/23	2/1/24	4/24/24	7/31/24	10/30/24	1/29/25	4/30/25	7/30/25	10/29/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Meta Platforms, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-61,954	-47,998	-30,815	-47,018	-48,989	-32,032	-22,817	-41,808
Change	-	22.53%	35.8%	-52.58%	-4.19%	34.61%	28.77%	-83.23%
Announcement Date	1/27/21	2/2/22	2/1/23	2/1/24	1/29/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Meta Platforms, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	15,115	18,567	31,186	27,045	37,256	70,429	107,998	120,444
Change	-	22.84%	67.96%	-13.28%	37.76%	89.04%	53.34%	11.52%
Free Cash Flow (FCF) ¹	23,632	39,116	18,439	43,010	52,103	42,477	25,420	39,570
Change	-	65.52%	-52.86%	133.26%	21.14%	-18.48%	-40.16%	55.66%
Announcement Date	1/27/21	2/2/22	2/1/23	2/1/24	1/29/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Meta Platforms, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	53.59%	54.17%	42.55%	53.34%	61.74%	61.03%	59.22%	60.25%
EBIT Margin (%)	38.01%	39.65%	24.82%	34.66%	42.18%	41.28%	36.67%	36.31%
EBT Margin (%)	38.6%	40.1%	24.71%	35.16%	42.96%	42.36%	37.18%	36.6%
Net margin (%)	33.9%	33.38%	19.9%	28.98%	37.91%	29.84%	32.42%	31.39%
FCF margin (%)	27.49%	33.17%	15.81%	31.88%	31.67%	21.3%	10.81%	14.57%
FCF / Net Income (%)	81.08%	99.35%	79.48%	110.01%	83.55%	71.36%	33.35%	46.41%
Profitability
ROA	19.92%	24.21%	13.19%	18.83%	24.66%	21.63%	20.66%	18.64%
ROE	25.42%	31.1%	18.52%	28.04%	37.14%	30.45%	28.64%	25.87%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	17.58%	15.74%	26.74%	20.05%	22.65%	35.31%	45.95%	44.35%
CAPEX / EBITDA (%)	32.81%	29.06%	62.85%	37.59%	36.68%	57.85%	77.59%	73.6%
CAPEX / FCF (%)	63.96%	47.47%	169.13%	62.88%	71.5%	165.81%	424.86%	304.39%
Items per share
Cash flow per share ¹	13.4	20.18	18.68	27.05	34.94	41.93	50.88	60.06
Change	-	50.57%	-7.41%	44.8%	29.16%	20%	21.35%	18.04%
Dividend per Share ¹	-	-	-	-	2	2.118	2.29	2.516
Change	-	-	-	-	-	5.89%	8.13%	9.87%
Book Value Per Share ¹	44.42	43.68	46.79	58.26	69.87	86.6	114.7	138.7
Change	-	-1.67%	7.11%	24.53%	19.92%	23.94%	32.41%	20.98%
EPS ¹	10.09	13.77	8.59	14.87	23.86	23.17	29.75	33.29
Change	-	36.47%	-37.62%	73.11%	60.46%	-2.91%	28.43%	11.89%
Nbr of stocks (in thousands)	2,848,293	2,781,760	2,622,197	2,571,256	2,524,489	2,520,528	2,520,528	2,520,528
Announcement Date	1/27/21	2/2/22	2/1/23	2/1/24	1/29/25	-	-	-