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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- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Selected Financial Data since 2012
- Total Asset Turnover since 2012
- Price to Earnings (P/E) since 2012
- Aggregate Accruals
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Meta Platforms Inc., consolidated cash flow statement (quarterly data)
US$ in millions
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 financial information reveals fluctuating cash flow patterns over the observed period. Net income demonstrates considerable volatility, beginning at US$9.497 billion in March 2021, experiencing growth through December 2021, then declining significantly to US$4.395 billion by September 2022, before recovering and peaking at US$22.768 billion in December 2023. A substantial decrease is then observed in the first half of 2024, followed by a partial recovery, and a further decline in the first half of 2025.
Non-cash adjustments to net income, including depreciation, share-based compensation, and deferred income taxes, consistently contribute to increased cash flow from operations. Share-based compensation has generally increased over time, reaching US$5.890 billion by December 2025. Deferred income taxes exhibit significant fluctuations, including substantial negative impacts in several quarters, particularly in the latter half of 2021 and 2022, and a large positive impact in September 2023. Depreciation and amortization shows a steady increase over the period.
- Operating Activities
- Net cash provided by operating activities generally tracks net income, with a lag due to the inclusion of non-cash adjustments. It peaked at US$20.402 billion in September 2023, mirroring the high net income for that period. Despite fluctuations in net income, operating activities consistently generate positive cash flow throughout the observed timeframe.
- Investing Activities
- Investing activities are characterized by substantial cash outflows, primarily related to purchases of property and equipment, and marketable securities. Purchases of marketable securities represent a significant drain on cash, particularly in 2021 and 2022. Sales and maturities of marketable securities provide offsetting inflows, but are not consistently sufficient to cover the outflows. A notable shift occurs in 2024 and 2025 with significantly increased outflows related to purchases of marketable securities. Acquisitions of businesses and intangible assets also contribute to cash outflows, with a particularly large outflow in the first half of 2025.
- Financing Activities
- Financing activities demonstrate significant volatility, largely driven by repurchases of Class A common stock. These repurchases represent a major cash outflow, peaking at US$21.742 billion in 2021 and remaining substantial throughout the period. Payments for dividends and dividend equivalents are also a consistent, though smaller, cash outflow. Proceeds from the issuance of long-term debt provide inflows in certain periods, notably in September 2022 and December 2025. Net cash used in financing activities is generally substantial, reflecting the company’s commitment to returning capital to shareholders.
The overall net increase or decrease in cash, cash equivalents, and restricted cash equivalents fluctuates considerably. The period from March 2024 to June 2025 shows a positive trend, largely driven by a significant increase in net cash provided by operating activities and proceeds from debt issuance. However, this is preceded by periods of substantial decreases, particularly in 2022 and 2023, reflecting the combined impact of investing and financing activities. Exchange rate changes have a relatively minor, though fluctuating, impact on cash balances.