Stock Analysis on Net
Stock Analysis on Net

Meta Platforms Inc. (NASDAQ:META)

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Meta Platforms Inc., adjusted financial ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Activity Ratio
Total Asset Turnover
Reported 0.60 0.59 0.63 0.71 0.54
Adjusted 0.62 0.60 0.64 0.72 0.55
Liquidity Ratio
Current Ratio
Reported 2.98 2.67 2.20 3.15 5.05
Adjusted 2.98 2.68 2.27 3.15 5.05
Solvency Ratios
Debt to Equity
Reported 0.16 0.12 0.08 0.00 0.00
Adjusted 0.29 0.25 0.22 0.12 0.09
Debt to Capital
Reported 0.14 0.11 0.08 0.00 0.00
Adjusted 0.22 0.20 0.18 0.10 0.08
Financial Leverage
Reported 1.51 1.50 1.48 1.33 1.24
Adjusted 1.53 1.51 1.48 1.33 1.24
Profitability Ratios
Net Profit Margin
Reported 37.91% 28.98% 19.90% 33.38% 33.90%
Adjusted 34.45% 29.66% 15.26% 32.66% 34.47%
Return on Equity (ROE)
Reported 34.14% 25.53% 18.45% 31.53% 22.72%
Adjusted 32.62% 26.87% 14.57% 31.18% 23.48%
Return on Assets (ROA)
Reported 22.59% 17.03% 12.49% 23.72% 18.29%
Adjusted 21.28% 17.82% 9.84% 23.49% 18.89%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Meta Platforms Inc. adjusted total asset turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Meta Platforms Inc. adjusted current ratio improved from 2022 to 2023 and from 2023 to 2024.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Meta Platforms Inc. adjusted debt-to-equity ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Meta Platforms Inc. adjusted debt-to-capital ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Meta Platforms Inc. adjusted financial leverage ratio increased from 2022 to 2023 and from 2023 to 2024.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Meta Platforms Inc. adjusted net profit margin ratio improved from 2022 to 2023 and from 2023 to 2024.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Meta Platforms Inc. adjusted ROE improved from 2022 to 2023 and from 2023 to 2024.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Meta Platforms Inc. adjusted ROA improved from 2022 to 2023 and from 2023 to 2024.

Meta Platforms Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Revenue 164,501 134,902 116,609 117,929 85,965
Total assets 276,054 229,623 185,727 165,987 159,316
Activity Ratio
Total asset turnover1 0.60 0.59 0.63 0.71 0.54
Adjusted
Selected Financial Data (US$ in millions)
Adjusted revenue2 164,598 135,051 116,539 118,154 86,066
Adjusted total assets3 266,476 224,759 180,781 164,258 157,058
Activity Ratio
Adjusted total asset turnover4 0.62 0.60 0.64 0.72 0.55

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Total asset turnover = Revenue ÷ Total assets
= 164,501 ÷ 276,054 = 0.60

2 Adjusted revenue. See details »

3 Adjusted total assets. See details »

4 2024 Calculation
Adjusted total asset turnover = Adjusted revenue ÷ Adjusted total assets
= 164,598 ÷ 266,476 = 0.62

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Meta Platforms Inc. adjusted total asset turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Current assets 100,045 85,365 59,549 66,666 75,670
Current liabilities 33,596 31,960 27,026 21,135 14,981
Liquidity Ratio
Current ratio1 2.98 2.67 2.20 3.15 5.05
Adjusted
Selected Financial Data (US$ in millions)
Current assets 100,045 85,365 59,549 66,666 75,670
Adjusted current liabilities2 33,596 31,884 26,254 21,135 14,981
Liquidity Ratio
Adjusted current ratio3 2.98 2.68 2.27 3.15 5.05

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 100,045 ÷ 33,596 = 2.98

2 Adjusted current liabilities. See details »

3 2024 Calculation
Adjusted current ratio = Current assets ÷ Adjusted current liabilities
= 100,045 ÷ 33,596 = 2.98

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Meta Platforms Inc. adjusted current ratio improved from 2022 to 2023 and from 2023 to 2024.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Total debt 29,535 19,075 10,610 581 523
Stockholders’ equity 182,637 153,168 125,713 124,879 128,290
Solvency Ratio
Debt to equity1 0.16 0.12 0.08 0.00 0.00
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 49,769 37,924 27,278 14,454 11,177
Adjusted stockholders’ equity3 173,831 149,055 122,065 123,746 126,367
Solvency Ratio
Adjusted debt to equity4 0.29 0.25 0.22 0.12 0.09

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 29,535 ÷ 182,637 = 0.16

2 Adjusted total debt. See details »

3 Adjusted stockholders’ equity. See details »

4 2024 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted stockholders’ equity
= 49,769 ÷ 173,831 = 0.29

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Meta Platforms Inc. adjusted debt-to-equity ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Total debt 29,535 19,075 10,610 581 523
Total capital 212,172 172,243 136,323 125,460 128,813
Solvency Ratio
Debt to capital1 0.14 0.11 0.08 0.00 0.00
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 49,769 37,924 27,278 14,454 11,177
Adjusted total capital3 223,600 186,979 149,343 138,200 137,544
Solvency Ratio
Adjusted debt to capital4 0.22 0.20 0.18 0.10 0.08

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 29,535 ÷ 212,172 = 0.14

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2024 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 49,769 ÷ 223,600 = 0.22

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Meta Platforms Inc. adjusted debt-to-capital ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Total assets 276,054 229,623 185,727 165,987 159,316
Stockholders’ equity 182,637 153,168 125,713 124,879 128,290
Solvency Ratio
Financial leverage1 1.51 1.50 1.48 1.33 1.24
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 266,476 224,759 180,781 164,258 157,058
Adjusted stockholders’ equity3 173,831 149,055 122,065 123,746 126,367
Solvency Ratio
Adjusted financial leverage4 1.53 1.51 1.48 1.33 1.24

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 276,054 ÷ 182,637 = 1.51

2 Adjusted total assets. See details »

3 Adjusted stockholders’ equity. See details »

4 2024 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= 266,476 ÷ 173,831 = 1.53

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Meta Platforms Inc. adjusted financial leverage ratio increased from 2022 to 2023 and from 2023 to 2024.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Net income 62,360 39,098 23,200 39,370 29,146
Revenue 164,501 134,902 116,609 117,929 85,965
Profitability Ratio
Net profit margin1 37.91% 28.98% 19.90% 33.38% 33.90%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 56,702 40,057 17,788 38,584 29,666
Adjusted revenue3 164,598 135,051 116,539 118,154 86,066
Profitability Ratio
Adjusted net profit margin4 34.45% 29.66% 15.26% 32.66% 34.47%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Net profit margin = 100 × Net income ÷ Revenue
= 100 × 62,360 ÷ 164,501 = 37.91%

2 Adjusted net income. See details »

3 Adjusted revenue. See details »

4 2024 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Adjusted revenue
= 100 × 56,702 ÷ 164,598 = 34.45%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Meta Platforms Inc. adjusted net profit margin ratio improved from 2022 to 2023 and from 2023 to 2024.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Net income 62,360 39,098 23,200 39,370 29,146
Stockholders’ equity 182,637 153,168 125,713 124,879 128,290
Profitability Ratio
ROE1 34.14% 25.53% 18.45% 31.53% 22.72%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 56,702 40,057 17,788 38,584 29,666
Adjusted stockholders’ equity3 173,831 149,055 122,065 123,746 126,367
Profitability Ratio
Adjusted ROE4 32.62% 26.87% 14.57% 31.18% 23.48%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
ROE = 100 × Net income ÷ Stockholders’ equity
= 100 × 62,360 ÷ 182,637 = 34.14%

2 Adjusted net income. See details »

3 Adjusted stockholders’ equity. See details »

4 2024 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted stockholders’ equity
= 100 × 56,702 ÷ 173,831 = 32.62%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Meta Platforms Inc. adjusted ROE improved from 2022 to 2023 and from 2023 to 2024.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Reported
Selected Financial Data (US$ in millions)
Net income 62,360 39,098 23,200 39,370 29,146
Total assets 276,054 229,623 185,727 165,987 159,316
Profitability Ratio
ROA1 22.59% 17.03% 12.49% 23.72% 18.29%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 56,702 40,057 17,788 38,584 29,666
Adjusted total assets3 266,476 224,759 180,781 164,258 157,058
Profitability Ratio
Adjusted ROA4 21.28% 17.82% 9.84% 23.49% 18.89%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
ROA = 100 × Net income ÷ Total assets
= 100 × 62,360 ÷ 276,054 = 22.59%

2 Adjusted net income. See details »

3 Adjusted total assets. See details »

4 2024 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × 56,702 ÷ 266,476 = 21.28%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Meta Platforms Inc. adjusted ROA improved from 2022 to 2023 and from 2023 to 2024.