# Meta Platforms, Inc. (META)

> Meta runs social and messaging apps, sells advertising on them, and makes virtual reality headsets and artificial intelligence glasses.

- Exchange: Nasdaq Global Select Market · Sector: Communication Services · Industry: Internet Content and Information
- Headquarters: Menlo Park, California
- Founded: 2004
- Employees: 75,472 (June 30, 2026)
- SEC CIK: 0001326801 ([filings on EDGAR](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001326801))
- Full page: https://inspectstocks.com/stocks/meta
- Data as of: price 2026-09-25; newest filing used 2026-07-30; latest fiscal period ended 2026-06-30

## Grade

**B+** on the growth-and-cash rubric, 4 of 5 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Revenue growing overall | passed | $228.2B | $120.5B |
| Revenue growing recently | passed | $228.2B | $201B |
| Free cash flow positive | passed | $41B |  |
| Free cash flow growing overall | passed | $41B | $24.4B |
| Free cash flow growing recently | failed | $41B | $46.1B |

Business quality (the + / − mark): 6 of 6 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Profitable | passed | 29.8% |  |
| Healthy profit margin | passed | 29.8% |  |
| Strong operating margin | passed | 38.1% |  |
| Good return on equity | passed | 31.3% |  |
| Debt under control | passed | 0.39 |  |
| Turns sales into cash | passed | 18.0% |  |

How the grade works: the letter counts failed checks (none → A, one → B, two → C, three → D, four or more → F). It is built from SEC filings only — the share price never enters it — and describes the business, not whether the stock is worth buying.

## Key figures

In US dollars, as filed.

| Measure | Value |
| --- | --- |
| Revenue, trailing twelve months | $228.2B |
| Net income, trailing twelve months | $68.1B |
| Free cash flow, trailing twelve months | $41B |
| Net margin | 29.8% |
| Operating margin | 38.1% |
| Return on equity | 31.3% |
| Debt to equity | 0.39 |
| Diluted EPS, trailing twelve months | $26.54 |
| Share price | $751.66 |
| Market value | $1.93T |
| Price / earnings | 28.3x |
| Price / sales | 8.4x |

## What the business does

Meta owns Facebook, Instagram, WhatsApp, Messenger, Threads, and Meta AI. People use these apps to share content, communicate, and discover things; businesses use them to advertise and communicate with customers. Meta also sells virtual reality headsets and artificial intelligence glasses, and develops related software and services. The company reported an average of 3.60 billion daily active people across Facebook, Instagram, Messenger, and WhatsApp in June 2026 (medium confidence).

### How it makes money

- **Advertising on Family of Apps services** (97.6% (quarter ended June 30, 2026)) — Marketers pay Meta, directly or through advertising agencies and resellers, for ads shown on Facebook, Instagram, Messenger, and third-party apps. Payment is generally based on ads displayed or actions such as clicks.
- **Reality Labs products and services** (0.7% (quarter ended June 30, 2026)) — Meta receives money from sales of consumer hardware, software, and content, including Meta Quest devices and artificial intelligence glasses. Reality Labs revenue was $431 million for the quarter.

### Products

- **Facebook** — A social networking app where people share posts and videos, join groups, use Marketplace, and connect with friends and communities.
- **Instagram** — An app for sharing and viewing photos and videos, messaging, following creators, and discovering businesses.
- **WhatsApp** — A messaging app for private conversations and calls between people and businesses, with features for business messaging and broadcasts.
- **Meta AI** — An artificial intelligence assistant available in Meta's apps, as a standalone app, on its glasses, and on the web.
- **Meta Quest** — Virtual reality headsets, with related software and content available through the Meta Horizon Store.
- **Ray-Ban Meta and Oakley Meta glasses** — Glasses with Meta AI and hands-free features, including voice interaction.

### Customers

- Marketers and businesses buy ads, mostly through Meta's self-service tools; some work through advertising agencies or resellers.
- Businesses pay for WhatsApp messaging and some subscriptions, and use Meta's apps to communicate with customers.
- Consumers buy Meta Quest headsets, artificial intelligence glasses, and related software and content through Meta and third-party sales channels.

### Competitors

- Alphabet Inc. (Google and YouTube) (GOOGL) — Google sells online advertising, while YouTube competes for video viewers, creators, and video advertising.
- ByteDance (TikTok) — TikTok competes for short-video viewers, creators, and advertising budgets. ByteDance is privately held.
- Snap Inc. (SNAP) — Snapchat competes for social app users, messaging, and advertising; Snap also makes augmented reality products.
- Pinterest, Inc. (PINS) — Pinterest competes for people discovering images, ideas, and products, and for advertising budgets.
- Amazon.com, Inc. (AMZN) — Amazon's advertising business competes for marketers' budgets and for ads that reach consumers.

### What it depends on

- Most revenue comes from advertising, so Meta depends on marketers continuing to spend on its apps.
- Ad targeting and measurement depend partly on data signals and services controlled by other companies, including mobile operating systems and web browsers.
- Meta relies on data centers, servers, network capacity, electricity, and third-party cloud services to run its apps and artificial intelligence work.
- Meta's consumer hardware depends on outside manufacturing and suppliers for components and production.

### What could go wrong

- Because advertising generates nearly all revenue, lower marketer spending or limits on the data used to target and measure ads could reduce revenue.
- If people use Meta's apps less, or competitors draw away users and engagement, Meta may have fewer opportunities to show ads and attract marketers.
- Privacy, youth-safety, and content rules, along with government investigations and lawsuits, could require product or business changes, impose costs, or restrict services.

## More on this company

- [Overview](https://inspectstocks.com/stocks/meta)
- [Financial statements](https://inspectstocks.com/stocks/meta/financials)
- [Competitors](https://inspectstocks.com/stocks/meta/peers)
- [Earnings](https://inspectstocks.com/stocks/meta/earnings)

---

Source: InspectStocks, built from the company’s own SEC filings. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.