Meta Platforms (META)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $1.83T, Meta Platforms's free cash flow of $46.1B (fiscal 2025) would need to grow about 14% a year for the stock to be worth today's price. That is close to what the company has delivered over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Meta Platforms's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from META's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Meta Platforms's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $117.9B | $116.6B | $134.9B | $164.5B | $201.0B |
| Net income | $39.4B | $23.2B | $39.1B | $62.4B | $60.5B |
| Free cash flow | $39.0B | $19.3B | $44.1B | $54.1B | $46.1B |
| EPS (diluted) | $13.77 | $8.59 | $14.87 | $23.86 | $23.49 |
| Operating margin | 39.6% | 24.8% | 34.7% | 42.2% | 41.4% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own META
From each investor's latest 13F filing (what a 13F shows). 31 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Dodge & Cox Dodge & Cox |
Added | $3.7B | 1.9% | Q2 2026 |
| Hersh Cohen ClearBridge Investments |
Trimmed | $2.1B | 1.8% | Q2 2026 |
| Jean-Marie Eveillard First Eagle Investment Management |
Added | $1.8B | 3.0% | Q2 2026 |
| Chase Coleman Tiger Global Management |
Trimmed | $1.6B | 6.6% | Q2 2026 |
| Bill Ackman Pershing Square Capital Management |
Trimmed | $1.5B | 11.1% | Q1 2026 |
| Philippe Laffont Coatue Management |
Trimmed | $1.4B | 2.9% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $1.2B | 0.42% | Q2 2026 |
| Andreas Halvorsen Viking Global Investors |
Added | $1.1B | 3.0% | Q2 2026 |
| Boykin Curry Eagle Capital Management |
Trimmed | $727M | 2.2% | Q2 2026 |
| Mason Morfit ValueAct Holdings L.P. |
Held | $516M | 9.2% | Q2 2026 |
| Lee Ainslie Maverick Capital |
New position | $430M | 3.8% | Q2 2026 |
| PRIMECAP Management PRIMECAP Management Co |
Trimmed | $399M | 0.24% | Q2 2026 |
Insider buying
Open-market purchases by Meta Platforms's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Feb 20, 2026 | Michael T. Mccaul |
0 | $655.66 | — |
| Feb 20, 2026 | Michael T. Mccaul |
0 | $655.66 | — |
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In the full deep dive
Questions
What growth does Meta Platforms's stock price imply?
At a market value of $1.83T, Meta Platforms would need its free cash flow to grow about 14% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 17% a year.
Are Meta Platforms insiders buying the stock?
2 open-market insider purchases of META in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Meta Platforms?
31 of the superinvestors Investingly tracks hold META in their latest 13F, including Dodge & Cox, Hersh Cohen, Jean-Marie Eveillard.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.