FINHUB Insights

Meta Platforms

META Communication Services Market cap $1.70T as of Sep 14, 2026 16:00 ET S&P 500

7 of 416 with a diagram, by size

Q1 FY26 Jan 1 – Mar 31, 2026 reported Apr 30, 2026

Revenue$56.31B +33% year over year
Gross profit$46.09B 82% margin
Operating profit$22.87B 41% margin
Net profit$26.77B 48% margin

Net profit is larger than what operations earned, because the statement adds $5.02B below it, under Tax benefit.

Sankey diagram of Meta Platforms' income statement for Q1 FY26: revenue of $56.31 billion splits into segments and flows out into costs, ending in net profit.
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
ItemValueShare of revenueYear over year
Revenue 56.31 100% +33%
Advertising 55.02 98% +33%
Other 0.89 1% +74%
Reality labs 0.40 1% −2%
Cost of revenue−10.2218%
Gross profit46.0982% margin+0pp
R&D−17.7031%+3pp
Sales & marketing−2.915%−1pp
G&A−2.615%−1pp
Operating profit22.8741% margin−1pp
Interest & other costs−1.12
Tax benefit5.02
Net profit26.77 48% margin+8pp

Financial health

The balance sheet, the quarter's capital flow, the debt schedule and the capital structure of the quarter shown above.

Balance sheet of Meta Platforms, Q1 FY26: assets of $395.3B against liabilities and equity.

Assets $395.3B Liabilities $151.6B Equity $243.7B as of Mar 31, 2026

The numbers behind the diagram
All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
ItemValueShare
Assets$395.3B100%
Cash$23.4B6%
Short-term investments$57.8B15%
Receivables$17.5B4%
Other current assets$11.1B3%
Property & equipment$194.8B49%
Lease right-of-use$23.3B6%
Goodwill$24.7B6%
Long-term investments$8.2B2%
Other assets$34.5B9%
Liabilities$151.6B38%
Payables$13.3B3%
Accrued liabilities$31.0B8%
Long-term debt$58.7B15%
Lease liabilities$25.6B6%
Other liabilities$22.9B6%
Equity$243.7B62%
Stockholders' equity$243.7B62%
Capital flow of Meta Platforms, Q1 FY26: $58.53B moved from its sources to its uses.

Money moved $58.53B Free cash flow $13.23B Jan 1 – Mar 31, 2026

The numbers behind the diagram
All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
ItemValueShare
Where the money came from$58.53B100%
Operating cash flow$32.23B55%
Other investing$18.30B31%
Currency effect$0.01B0%
Taken from cash$8.00B14%
Where it went−$58.53B100%
Capital expenditure−$19.00B32%
Investments bought, net−$32.98B56%
Share buybacks−$4.42B8%
Dividends−$1.35B2%
Other financing−$0.78B1%
Debt and liquidity of Meta Platforms, Q1 FY26: total debt $58.7B against cash and cash flow.

Total debt $58.7B Cash & short-term investments $81.2B Net cash $22.4B Operating cash flow, last 4 quarters $124.0B

Maturities as filed as of Dec 31, 2025; debt and cash as of Mar 31, 2026.

The numbers behind the diagram
Principal due, as of Dec 31, 2025
DueValue
2026$0.0B
2027$2.8B
2028$1.5B
2029$1.0B
2030$5.0B
after 2030$48.8B
Instruments, as of Dec 31, 2025
DueItemCouponValue
November2025 debt4.2%$30.0B
August2024 debt4.3%$10.5B
August2022 debt3.5%$10.0B
May2023 debt4.6%$8.5B
Capital structure of Meta Platforms, Q1 FY26: debt of $58.7B against book equity of $243.7B.

Debt to equity 0.24× Net cash $22.4B Interest coverage 141.07× (interest paid stands in for interest expense) Return on invested capital 38.4% Cost of debt, after tax 1.1% (interest paid stands in for interest expense) Book values as of Mar 31, 2026.

EBIT, EBITDA, interest and tax are the last four quarters, Apr 1, 2025 to Mar 31, 2026. The cost of equity, the weighted average cost of capital and the value creation spread need the share price, beta and a risk-free rate, which the filing does not carry. They stay empty rather than estimated. The filing tags no interest expense line; interest paid, from the cash flow statement, stands in for it.

The numbers behind the diagram
All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
ItemValueHow it is computed
Total debt short-term and long-term borrowings, as on the debt tab$58.7Bshort-term and long-term borrowings, as on the debt tab
Equity, book value stockholders' equity incl. minority interests, as on the balance sheet$243.7Bstockholders' equity incl. minority interests, as on the balance sheet
Total capital total debt + equity$302.4Btotal debt + equity
Debt share total debt / total capital19%total debt / total capital
Equity share equity / total capital81%equity / total capital
Net cash total debt − cash and short-term investments$22.4Btotal debt − cash and short-term investments
EBIT, last 4 quarters operating income, four quarters summed$88.6Boperating income, four quarters summed
Depreciation & amortisation, last 4 quarters from the cash flow statement, four quarters summed$20.7Bfrom the cash flow statement, four quarters summed
EBITDA, last 4 quarters EBIT + depreciation & amortisation$109.3BEBIT + depreciation & amortisation
Interest paid, last 4 quarters four quarters summed$0.6Bfour quarters summed
Debt to equity total debt / equity0.24×total debt / equity
Net debt to EBITDA net debt / EBITDAnet cash $22.4Bnet debt / EBITDA
Interest coverage EBIT / interest paid141.07×(interest paid stands in for interest expense)EBIT / interest paid
Effective tax rate income tax / pretax income, kept within 0 to 50%21.0%income tax / pretax income, kept within 0 to 50%
NOPAT, last 4 quarters EBIT × (1 − effective tax rate)$70.0BEBIT × (1 − effective tax rate)
Invested capital, average total debt + equity − cash and short-term investments, mean of this quarter end and the one a year earlier (Mar 31, 2025)$182.4Btotal debt + equity − cash and short-term investments, mean of this quarter end and the one a year earlier (Mar 31, 2025)
Return on invested capital NOPAT / average invested capital38.4%NOPAT / average invested capital
Cost of debt, before tax interest / average total debt: the average coupon of the debt on the books, not today's market rate1.4%interest / average total debt: the average coupon of the debt on the books, not today's market rate
Cost of debt, after tax cost of debt before tax × (1 − effective tax rate)1.1%(interest paid stands in for interest expense)cost of debt before tax × (1 − effective tax rate)
Cost of equity risk-free rate + beta × equity risk premiumneeds market datarisk-free rate + beta × equity risk premium
Weighted average cost of capital cost of equity and after-tax cost of debt, weighted by market valueneeds market datacost of equity and after-tax cost of debt, weighted by market value
Value creation spread ROIC − WACCneeds market dataROIC − WACC

Quarter by quarter

Every set of results we hold, newest first. Open one on its own page.

Quarter Period Reported Revenue Year over year Operating margin Net profit Net margin
Q1 FY26 Jan 1 – Mar 31, 2026 reported Apr 30, 2026 Operating margin 41% Net profit $26.8B Jan 1 – Mar 31, 2026 Apr 30, 2026 $56.3B +33% 41% $26.8B 48%
Q4 FY25 Oct 1 – Dec 31, 2025 reported Jan 29, 2026 Operating margin 41% Net profit $22.8B Oct 1 – Dec 31, 2025 Jan 29, 2026 $59.9B +24% 41% $22.8B 38%
Q3 FY25 Jul 1 – Sep 30, 2025 reported Oct 30, 2025 Operating margin 40% Net profit $2.7B Jul 1 – Sep 30, 2025 Oct 30, 2025 $51.2B +26% 40% $2.7B 5%
Q2 FY25 Apr 1 – Jun 30, 2025 reported Jul 31, 2025 Operating margin 43% Net profit $18.3B Apr 1 – Jun 30, 2025 Jul 31, 2025 $47.5B +22% 43% $18.3B 39%
Q1 FY25 Jan 1 – Mar 31, 2025 reported May 1, 2025 Operating margin 41% Net profit $16.6B Jan 1 – Mar 31, 2025 May 1, 2025 $42.3B +16% 41% $16.6B 39%