Menlo Park, CA · Founded 2004 · 78,865 employees
Meta Platforms generated $201.0B in revenue for fiscal year 2025, a +22.2% year-over-year change. Gross margin was 82.0%. Net income reached $60.5B.
Meta remains an advertising powerhouse, but it is trading away its liquidity and financial flexibility to fund an aggressive AI and metaverse arms race. Investors must weigh the 26% ad growth against a shrinking cash pile, massive fixed future commitments, and a multi-front legal war with global regulators. Meta delivered strong top-line advertising growth in Q3 2025 (Revenue +26% YoY) underpinned by higher ad impressions and ARPP, but the reported earnings picture is materially distorted by tax and one‑off items and very large capital commitments. The company generated $79.6B of operating cash in the first nine months of 2025, yet cash and cash equivalents fell from $43.9B at year‑end 2024 to $10.2B at 9/30/2025 after aggressive capex, share buybacks, and a $13.8B push into Scale AI and other non‑marketable investments.
| Fiscal Year | Revenue | YoY Growth | Gross Margin | Op. Margin | Net Income | EPS |
|---|---|---|---|---|---|---|
| FY2025 | $201.0B | +22.2% | 82.0% | 41.4% | $60.5B | $23.49 |
| FY2024 | $164.5B | +21.9% | 81.7% | 42.2% | $62.4B | $23.86 |
| FY2023 | $134.9B | +15.7% | 80.8% | 34.7% | $39.1B | $14.87 |
| FY2022 | $116.6B | -1.1% | 78.3% | 24.8% | $23.2B | $8.59 |
| FY2021 | $117.9B | +37.2% | 80.8% | 39.6% | $39.4B | $13.77 |
| FY2020 | $86.0B | +21.6% | 80.6% | 38.0% | $29.1B | $10.09 |
| FY2019 | $70.7B | +26.6% | 81.9% | 33.9% | $18.5B | $6.43 |
| FY2018 | $55.8B | — | 83.2% | 44.6% | $22.1B | $7.57 |
| Fiscal Year | Operating Cash Flow | Capital Expenditures | Free Cash Flow | Investing | Financing |
|---|---|---|---|---|---|
| FY2025 | $115.8B | $-69.7B | $43.6B | $-102.0B | $-20.4B |
| FY2024 | $91.3B | $-37.3B | $52.1B | $-47.1B | $-40.8B |
| FY2023 | $71.1B | $-27.0B | $43.0B | $-24.5B | $-19.5B |
| FY2022 | $50.5B | $-31.4B | $18.4B | $-29.0B | $-22.1B |
| FY2021 | $57.7B | $-18.6B | $38.4B | $-7.6B | $-50.7B |
| FY2020 | $38.7B | $-15.1B | $23.0B | $-30.1B | $-10.3B |
| FY2019 | $36.3B | $-15.1B | $20.7B | $-19.9B | $-7.3B |
| FY2018 | $29.3B | $-13.9B | $15.4B | $-11.6B | $-15.6B |
| Fiscal Year | Total Assets | Total Liabilities | Total Equity | Cash | Total Debt |
|---|---|---|---|---|---|
| FY2025 | $366.0B | $148.8B | $217.2B | $35.9B | $0 |
| FY2024 | $276.1B | $93.4B | $182.6B | $43.9B | $28.8B |
| FY2023 | $229.6B | $76.5B | $153.2B | $41.9B | $18.4B |
| FY2022 | $185.7B | $60.0B | $125.7B | $14.7B | $9.9B |
| FY2021 | $166.0B | $41.1B | $124.9B | $16.6B | $0 |
| FY2020 | $159.3B | $31.0B | $128.3B | $17.6B | $0 |
| FY2019 | $133.4B | $32.3B | $101.1B | $19.1B | $0 |
| FY2018 | $97.3B | $13.2B | $84.1B | $10.0B | $0 |
Meta Platforms generated $201.0B in revenue for fiscal year 2025. That represents a +22.2% change from $164.5B in fiscal year 2024.
Yes, Meta Platforms is profitable. The company reported net income of $60.5B in fiscal year 2025, representing a net profit margin of 30.1%. In the prior fiscal year 2024, net income was $62.4B.
Meta Platforms's gross margin for fiscal year 2025 was 82.0%, calculated from gross profit of $164.8B on revenue of $201.0B. Over the past 5 years, gross margins have ranged between 78% and 82%.
Meta Platforms employs approximately 78,865 people worldwide. The company is headquartered in Menlo Park, CA and was founded in 2004.
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