Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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Meta Platforms Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (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 liabilities and stockholders’ equity exhibited notable shifts over the observed period, spanning from March 2021 to December 2025. A general trend indicates an increasing proportion of liabilities relative to stockholders’ equity, particularly towards the end of the period.
- Current Liabilities
- Current liabilities, as a percentage of the total, generally increased from 7.78% in March 2021 to a peak of 14.55% in December 2022, before declining to 11.43% by December 2025. Accrued expenses and other current liabilities were the primary driver of this trend, rising from 6.60% to 12.30% in June 2023, and remaining relatively high throughout the period. Accounts payable also showed an increase, particularly from March 2021 to December 2022, but fluctuated more significantly, ending at 2.43% in December 2025.
- Non-Current Liabilities
- Non-current liabilities demonstrated a consistent upward trend from 10.49% in March 2021 to 29.22% in December 2025. This increase was largely attributable to the growth in long-term debt, which became a significant component starting in September 2022, reaching 16.05% in December 2025. Long-term income taxes also contributed to this increase, rising from an absence of reported values to 5.74% by December 2025. Operating lease liabilities (non-current) remained relatively stable, decreasing slightly over the period.
- Stockholders’ Equity
- Stockholders’ equity exhibited a decreasing trend as a percentage of the total, falling from 81.74% in March 2021 to 59.35% in December 2025. Retained earnings, the largest component of stockholders’ equity, decreased from 50.36% to 33.11% over the same period. Additional paid-in capital remained relatively stable, fluctuating between approximately 31% and 35%, while accumulated other comprehensive income (loss) remained a small negative percentage, becoming more negative over time.
- Total Liabilities
- Total liabilities increased steadily from 18.26% in March 2021 to 40.65% in December 2025, reflecting the combined effect of the increases in both current and non-current liabilities. This indicates a growing reliance on debt financing or deferred obligations relative to equity funding.
Overall, the balance sheet composition shifted significantly towards greater leverage, with a substantial increase in both current and non-current liabilities and a corresponding decrease in the proportion of stockholders’ equity. The most pronounced changes occurred in the latter half of the period, particularly with the rise in long-term debt and accrued expenses.