Stock Analysis on Net

Meta Platforms Inc. (NASDAQ:META)

$24.99

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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Meta Platforms Inc., consolidated cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Net income
Depreciation and amortization
Share-based compensation
Deferred income taxes
Impairment charges for facilities consolidation, net
Data center assets abandonment
Other
Accounts receivable
Prepaid expenses and other current assets
Other assets
Accounts payable
Accrued expenses and other current liabilities
Other liabilities
Changes in assets and liabilities
Adjustments to reconcile net income to net cash provided by operating activities
Net cash provided by operating activities
Purchases of property and equipment
Purchases of marketable securities
Sales and maturities of marketable securities
Acquisitions of businesses and intangible assets
Other investing activities
Net cash used in investing activities
Taxes paid related to net share settlement of equity awards
Repurchases of Class A common stock
Payments for dividends and dividend equivalents
Proceeds from issuance of long-term debt, net
Principal payments on finance leases
Other financing activities
Net cash used in financing activities
Effect of exchange rate changes on cash, cash equivalents, and restricted cash equivalents
Net increase (decrease) in cash, cash equivalents, and restricted cash equivalents

Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).


The financial data over the indicated periods show notable fluctuations and trends across various financial metrics.

Net Income
Net income demonstrates an overall upward trajectory with significant variability. Starting at $4,902 million in March 2020, it peaks notably at $20,838 million in December 2024 before dropping to $16,644 million in March 2025. Several quarters show strong gains, notably the last two years, indicating improved profitability toward the latter periods.
Depreciation and Amortization
Depreciation and amortization expenses increase steadily from $1,597 million in Q1 2020 to a peak of $4,460 million in March 2025, reflecting ongoing investments in capital assets and asset base expansion.
Share-based Compensation
This expense fluctuates around $1,300 to $4,600 million, with a general rising trend, peaking in late 2024, which may indicate increasing employee compensation costs aligned with company growth.
Deferred Income Taxes
Deferred taxes fluctuate significantly, with large positive and negative values, reflecting volatile tax timing differences and potentially varied impacts of tax regulations or tax planning strategies beyond stable earnings.
Impairment Charges and Asset Abandonment
Impairment charges and abandoned data center assets appear sporadically, particularly pronounced between late 2022 and 2024, suggesting restructuring or asset rationalization efforts during those periods.
Working Capital Components
Accounts receivable show high volatility, with substantial increases and decreases indicating variability in sales collections or billing cycles. Accounts payable and accrued expenses also vary significantly, pointing to fluctuating payment schedules or liabilities management. Prepaid expenses and other current assets similarly fluctuate, indicating changing advance payments or short-term asset composition.
Net Cash Provided by Operating Activities
Operating cash flow generally trends upward, from about $11,001 million in early 2020 to a peak of $27,988 million in December 2024, indicating solid cash generation capacity despite occasional dips.
Investing Activities
Total investing cash outflows are sizable, dominated by large and increasing purchases of property and equipment, rising from approximately $3.6 billion in early 2020 to over $14 billion in late 2024, highlighting aggressive capital expenditure. Marketable securities purchases and sales fluctuate, with sales generally compensating for purchases but with less volume in recent years. Acquisitions of businesses and intangible assets remain relatively modest.
Financing Activities
Significant cash outflows from financing activities occur, driven mainly by stock repurchases, which peak substantially around late 2021 and maintain a high level thereafter. Dividend payments initiate around 2024 and remain steady in the range of approximately $1.2 to $1.3 billion per quarter. There are notable proceeds from issuance of long-term debt in some quarters, reflecting capital raising efforts. Principal payments on finance leases increase over time, showing active lease obligations management.
Net Cash Flow and Liquidity Effect
The net changes in cash and cash equivalents are highly variable, with large positive spikes (e.g., over $17 billion in mid-2023) and significant negative outflows, reflecting the combined effects of operational strength, heavy investment spending, and large financing outflows. Exchange rate effects contribute minor fluctuations.

Overall, the data reveal a company with robust and growing operating income and cash flows offset by heavy investments in property and equipment as well as aggressive share repurchases and dividend initiations. The capital expenditures suggest expansion or upgrading of infrastructure, particularly data center-related assets, while variability in working capital components and deferred taxes implies complex operational and tax environments. Financing activities indicate a focus on shareholder returns and occasional debt issuance. These patterns collectively indicate a mature company balancing growth investments with strong shareholder distributions and efficient cash flow management.