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Meta Platforms Inc. (NASDAQ:META)

Common-Size Balance Sheet: Assets
Quarterly Data

Meta Platforms Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Sep 30, 2026 Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 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
Cash and cash equivalents 2.34 3.44 5.93 9.80 3.35 4.07 10.26 15.90 17.10 13.92 14.50 18.23 17.06 13.93 6.26 7.90 8.00 7.47 9.06 10.00 8.55 9.49 11.93
Marketable securities 14.88 16.62 14.61 12.49 11.28 11.90 14.80 12.29 10.55 11.31 11.58 10.25 11.20 11.93 14.03 14.03 15.35 16.38 17.66 18.92 25.70 28.07 27.34
Accounts receivable, net 4.74 4.83 4.42 5.40 5.69 5.62 5.18 6.16 5.73 6.30 6.03 7.04 5.99 6.05 5.99 7.25 6.28 6.79 6.94 8.46 7.13 6.86 6.28
Prepaid expenses and other current assets 3.08 2.99 2.81 2.01 3.74 3.39 1.96 1.90 2.13 1.67 1.70 1.65 1.99 1.74 2.17 2.88 2.97 2.34 2.43 2.79 3.10 2.88 1.73
Current assets 25.04% 27.89% 27.77% 29.70% 24.06% 24.98% 32.20% 36.24% 35.52% 33.20% 33.80% 37.18% 36.24% 33.65% 28.45% 32.06% 32.60% 32.98% 36.09% 40.16% 44.47% 47.30% 47.29%
Non-marketable equity investments 6.81 6.70 7.19 7.52 8.25 7.46 2.20 2.20 2.37 2.70 2.79 2.67 2.84 3.00 3.34 3.34 3.65 3.85 4.13 4.08 3.99 3.75 3.88
Property and equipment, net 52.88 50.17 49.28 48.19 52.75 49.89 47.67 43.96 43.74 44.72 44.38 42.06 42.43 42.55 45.62 42.81 41.22 39.81 37.50 34.83 31.68 29.84 29.18
Operating lease right-of-use assets 5.55 5.33 5.89 5.57 5.72 5.31 5.53 5.41 5.78 6.11 6.08 5.79 6.03 6.27 6.99 6.82 7.63 8.32 7.45 7.32 6.52 6.17 6.24
Goodwill 4.89 5.20 6.26 6.70 6.96 7.01 7.37 7.48 8.06 8.97 9.27 8.99 9.56 10.00 11.19 10.93 11.33 11.91 12.13 11.57 11.24 11.26 11.65
Other assets 4.82 4.71 3.61 2.31 2.26 5.36 5.03 4.72 4.54 4.31 3.67 3.30 2.90 4.53 4.41 4.03 3.58 3.13 2.70 2.04 2.09 1.68 1.76
Non-current assets 74.96% 72.11% 72.23% 70.30% 75.94% 75.02% 67.80% 63.76% 64.48% 66.80% 66.20% 62.82% 63.76% 66.35% 71.55% 67.94% 67.40% 67.02% 63.91% 59.84% 55.53% 52.70% 52.71%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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 asset structure demonstrates a fundamental transition from a liquidity-heavy position to one dominated by long-term capital investments. Current assets, which constituted 47.29% of total assets in March 2021, experienced a consistent downward trend, reaching 25.04% by September 2026. In contrast, non-current assets increased from 52.71% to 74.96% over the same period, indicating a strategic reallocation of resources toward long-term infrastructure.

Liquidity and Short-Term Asset Trends
Cash and cash equivalents exhibited significant volatility, peaking at 18.23% in December 2023 before dropping sharply to 2.34% by September 2026. Marketable securities followed a more linear decline, falling from 27.34% in early 2021 to 14.88% by the end of the period. Accounts receivable remained relatively stable, though a slight contraction is observed, moving from 6.28% to 4.74%.
Fixed Asset Expansion
Property and equipment, net, represents the most significant growth area within the balance sheet. This item rose steadily from 29.18% of total assets in March 2021 to a peak of 52.88% in September 2026. This suggests an aggressive and sustained investment in physical infrastructure and hardware.
Intangible and Other Non-Current Assets
Goodwill has seen a consistent proportional decrease, declining from 11.65% in March 2021 to 4.89% in September 2026. Non-marketable equity investments remained low for several years but showed a notable increase in 2025, peaking at 8.25% in June 2025 before stabilizing around 6.81%. Operating lease right-of-use assets remained comparatively stable, fluctuating between 5.31% and 8.32%.

The combined data indicates a clear shift in the operational model, moving away from high cash reserves and marketable securities toward a capital-intensive asset base. The dominance of property and equipment over all other asset classes by 2026 underscores a period of intense capitalization of the company's balance sheet.

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