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Meta Platforms (META) Stock Analysis

TechnologyServices-Computer Programming, Data Processing, Etc.

Q3 2026 · +26.1% revenue · +6.2% revenue
Beat the trendvs trailing 3-quarter avg
Revenue▼−2.2 ppvs trend
Net income▲+245.1 ppvs trend
Diluted EPS▲+244.6 ppvs trend
Free cash flow▼−52.7 ppvs trend

Outperformed in 2 of 4 metrics

How the cash was deployedQ3 2026
Operating cash flow$96.87B
$83.06B (85.7 %)
Dividends paid$1.36B (1.4 %)
Returned to shareholders this quarter$1.36B▼ −95.1%
Last 8 quarters of revenueLatest quarter highlighted. Q4 reconstructed from the annual filing.
+26.1% +6.2%
48.39B
Q4 24*
42.31B
Q1 25
47.52B
Q2 25
51.24B
Q3 25
59.89B
Q4 25*
56.31B
Q1 26
60.80B
Q2 26
64.60B
Q3 26

* Q4 is reconstructed from the annual filing (FY − Q1 − Q2 − Q3), since the SEC does not require a Q4 10-Q.

RevenueSlowing
$64.60B
▲+26.1% ▲+6.2%
39.07B
40.59B
48.39B
42.31B
47.52B
51.24B
59.89B
56.31B
60.80B
64.60B
Still moving the same direction, but at a smaller pace than the prior quarter.
Net incomeSlowing
$9.86B
▲+264% ▼−37.8%
13.46B
15.69B
20.84B
16.64B
18.34B
2.71B
22.77B
26.77B
15.85B
9.86B
Still moving the same direction, but at a smaller pace than the prior quarter.
Free cash flowReversal
$13.82B
▼−55.8% ▼−7.7%
24.04B
40.51B
−36.42B
11.09B
20.11B
31.28B
−58.44B
13.23B
14.97B
13.82B
Direction flipped this quarter — watch for a one-off or a new trend.
Diluted Slowing
$3.83
▲+265% ▼−38.0%
5.16
6.03
7.96
6.43
7.14
1.05
8.87
10.44
6.18
3.83
Still moving the same direction, but at a smaller pace than the prior quarter.

Margins

Gross marginAccelerating
79.3 %
▼−2.7 pp ▼−2.1 pp
81.30
81.83
81.73
82.11
82.13
82.03
81.79
81.85
81.37
79.31
Moving faster than the prior quarter — the trend is picking up speed.
Operating marginAccelerating
20.1 %
▼−20.0 pp ▼−10.8 pp
38.00
42.75
48.29
41.49
43.02
40.07
41.31
40.62
30.88
20.10
Moving faster than the prior quarter — the trend is picking up speed.
Net marginSlowing
15.3 %
▲+10.0 pp ▼−10.8 pp
34.46
38.65
43.07
39.33
38.59
5.29
38.01
47.54
26.07
15.26
Still moving the same direction, but at a smaller pace than the prior quarter.
Metric
Q3 2025Same quarter, prior year
Q2 2026Previous quarter
Q3 2026Latest quarter
YoYQoQ
Revenue$51.24B$60.80B$64.60B+26.1%+6.2%
Cost of revenue$9.21B$11.33B$13.37B+45.2%+18.0%
Gross profit$42.04B$49.47B$51.23B+21.9%+3.6%
Operating expenses$30.71B$42.03B$51.61B+68.1%+22.8%
Operating income$20.54B$18.77B$12.99B−36.8%−30.8%
Net income$2.71B$15.85B$9.86B+264%−37.8%
Diluted $1.05$6.18$3.83+265%−38.0%
Operating cash flow$79.59B$64.09B$96.87B+21.7%+51.2%
$48.31B$49.11B$83.06B+71.9%+69.1%
Free cash flow$31.28B$14.97B$13.82B−55.8%−7.7%
Gross margin82.0 %81.4 %79.3 %−2.7 pp−2.1 pp
Operating margin40.1 %30.9 %20.1 %−20.0 pp−10.8 pp
Net margin5.3 %26.1 %15.3 %+10.0 pp−10.8 pp