Common-Size Balance Sheet: Assets
Quarterly Data
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Meta Platforms Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
The composition of assets at the company has undergone notable shifts between March 2021 and December 2025. A significant trend is the fluctuation in the allocation to cash and cash equivalents, alongside changes in marketable securities. Property and equipment, net, and goodwill consistently represent substantial portions of the asset base, though their relative weights have evolved over the period.
- Liquidity and Short-Term Investments
- Cash and cash equivalents demonstrated considerable volatility, peaking at 18.23% of total assets in December 2023 before declining to 9.80% by December 2025. Marketable securities exhibited a decreasing trend overall, falling from 27.34% in March 2021 to 12.49% in December 2025. This suggests a potential shift in investment strategy or utilization of liquid assets for other purposes. Current assets as a percentage of total assets decreased from 47.29% in March 2021 to 29.70% in December 2025, reflecting the combined effect of changes in the components of current assets.
- Long-Term Investments and Fixed Assets
- Non-marketable equity investments showed a general decline, decreasing from 3.88% to 2.67% between March 2021 and December 2023, then increasing to 7.52% by December 2025. Property and equipment, net, consistently represented a large portion of assets, increasing from 29.18% in March 2021 to 42.06% in December 2023, and then to 48.19% in December 2025. This indicates a growing reliance on fixed assets relative to total assets. Operating lease right-of-use assets remained relatively stable, fluctuating between approximately 5.41% and 8.32% throughout the period.
- Intangible Assets
- Goodwill experienced a gradual decrease as a percentage of total assets, declining from 11.65% in March 2021 to 6.70% in December 2025. Other assets showed an increase, particularly towards the end of the period, rising from 1.76% in March 2021 to 2.31% in December 2025.
- Overall Asset Composition
- Non-current assets increased as a percentage of total assets from 52.71% in March 2021 to 70.30% in December 2025. This shift, coupled with the decrease in current assets, suggests a long-term investment strategy focused on building and maintaining a substantial base of non-current assets. The most significant increase in percentage terms was observed in property and equipment, net, and non-marketable equity investments towards the end of the analyzed period.
The observed trends suggest a strategic evolution in asset allocation, with a move away from highly liquid assets towards long-term investments in property, equipment, and potentially other equity holdings. The decreasing proportion of goodwill may indicate impairment or amortization, while the increase in other assets warrants further investigation to understand its composition and implications.