Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Meta Platforms Inc., liquidity ratios (quarterly data)
Based on: 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).
The liquidity position exhibits a cyclical pattern characterized by periods of contraction and recovery between March 2022 and June 2026. All three liquidity metrics maintain values consistently above 1.0, indicating a robust capacity to meet short-term obligations. A strong positive correlation is observed across the current, quick, and cash ratios, suggesting that liquidity fluctuations are driven by similar underlying financial movements.
- Current Ratio
- The current ratio began at 2.81 in March 2022, experiencing a gradual decline to a period low of 2.07 by March 2023. A subsequent recovery trend emerged, peaking at 2.98 in December 2024. A sharp contraction occurred in the first half of 2025, reaching a minimum of 1.97 in June 2025, before stabilizing at 2.23 by June 2026.
- Quick Ratio
- The quick ratio closely tracks the current ratio, starting at 2.62 and reaching a trough of 1.91 in March 2023. Following a recovery to a peak of 2.82 in December 2024, the ratio declined to 1.67 in June 2025. The proximity of the quick ratio to the current ratio across all periods indicates that inventory levels represent a negligible portion of total current assets.
- Cash Ratio
- The cash ratio demonstrates a similar trajectory, starting at 2.08 and dipping to 1.48 in March 2023. It reached its highest point of 2.32 in December 2024 before falling to 1.20 in June 2025. The consistently high values of the cash ratio suggest that a substantial majority of short-term liquidity is held in cash or highly liquid cash equivalents.
- Comparative Liquidity Trends
- Significant volatility is observed during the 2025 fiscal period, where all ratios saw a marked decline. However, the subsequent recovery by December 2025 and the general stability through June 2026 indicate a resilient liquidity framework. The narrow variance between the three ratios confirms a lack of reliance on the sale of inventories or the collection of receivables to satisfy immediate liabilities.
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Current Ratio
Meta Platforms Inc., current ratio calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Current assets | 125,475) | 109,765) | 108,722) | 73,118) | 73,613) | 90,227) | 100,045) | 91,067) | 76,431) | 75,330) | 85,365) | 78,378) | 69,560) | 52,483) | 59,549) | 58,315) | 55,987) | 59,265) | ||||||
| Current liabilities | 56,379) | 46,753) | 41,836) | 36,958) | 37,305) | 33,890) | 33,596) | 33,330) | 27,004) | 28,101) | 31,960) | 30,531) | 29,921) | 25,381) | 27,026) | 22,687) | 22,217) | 21,086) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Current ratio1 | 2.23 | 2.35 | 2.60 | 1.98 | 1.97 | 2.66 | 2.98 | 2.73 | 2.83 | 2.68 | 2.67 | 2.57 | 2.32 | 2.07 | 2.20 | 2.57 | 2.52 | 2.81 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||
| Alphabet Inc. | 2.72 | 1.92 | 2.01 | 1.75 | 1.90 | 1.77 | 1.84 | 1.95 | 2.08 | 2.15 | 2.10 | 2.04 | 2.17 | 2.35 | 2.38 | 2.52 | 2.81 | 2.87 | ||||||
| Comcast Corp. | 0.80 | 0.87 | 0.88 | 0.88 | 0.91 | 0.65 | 0.68 | 0.72 | 0.66 | 0.59 | 0.60 | 0.70 | 0.76 | 0.69 | 0.78 | 0.84 | 0.88 | 0.86 | ||||||
| Netflix Inc. | 1.14 | 1.41 | 1.19 | 1.33 | 1.34 | 1.20 | 1.22 | 1.13 | 0.95 | 1.07 | 1.12 | 1.29 | 1.33 | 1.26 | 1.17 | 1.14 | 1.05 | 1.05 | ||||||
| Trade Desk Inc. | 1.72 | 1.68 | 1.61 | 1.71 | 1.71 | 1.81 | 1.86 | 1.85 | 1.80 | 1.79 | 1.72 | 1.87 | 1.87 | 1.90 | 1.90 | 1.91 | 1.92 | 1.91 | ||||||
| Walt Disney Co. | 0.68 | 0.67 | 0.71 | 0.72 | 0.67 | 0.68 | 0.73 | 0.72 | 0.75 | 0.84 | 1.05 | 1.07 | 1.01 | 0.99 | 1.00 | 1.02 | 1.06 | 1.10 | ||||||
Based on: 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).
1 Q2 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 125,475 ÷ 56,379 = 2.23
2 Click competitor name to see calculations.
Liquidity analysis indicates a robust overall financial position, characterized by a consistent ability to cover short-term obligations. While the current ratio experienced periodic fluctuations, it remained well above the 1.0 threshold throughout the observation period, suggesting a significant buffer of short-term assets relative to liabilities.
- Current Assets Trend
- A long-term expansion of current assets is evident, growing from 59,265 million USD in March 2022 to 125,475 million USD by June 2026. This growth was not linear, featuring a notable surge between September 2023 and December 2024, and another substantial increase in late 2025, despite a temporary contraction in the first half of 2025.
- Current Liabilities Trend
- Current liabilities exhibited a steady upward trajectory, increasing from 21,086 million USD to 56,379 million USD. The growth in liabilities was more consistent and less volatile than that of assets, although the rate of increase accelerated notably between March 2026 and June 2026.
- Current Ratio Analysis
- The current ratio fluctuated between a peak of 2.98 in December 2024 and a low of 1.97 in June 2025. A period of gradual decline was observed from March 2022 to March 2023, where the ratio dropped from 2.81 to 2.07. A subsequent recovery phase occurred through 2024, reaching a high of 2.83 in June 2024. The sharp decline in mid-2025 indicates a period where liability growth outpaced asset accumulation, though the ratio stabilized at 2.23 by June 2026.
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Quick Ratio
Meta Platforms Inc., quick ratio calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Cash and cash equivalents | 15,462) | 23,426) | 35,873) | 10,187) | 12,005) | 28,750) | 43,889) | 43,852) | 32,045) | 32,307) | 41,862) | 36,890) | 28,785) | 11,551) | 14,681) | 14,308) | 12,681) | 14,886) | ||||||
| Marketable securities | 74,798) | 57,754) | 45,719) | 34,261) | 35,066) | 41,480) | 33,926) | 27,048) | 26,035) | 25,813) | 23,541) | 24,233) | 24,661) | 25,888) | 26,057) | 27,468) | 27,808) | 29,004) | ||||||
| Accounts receivable, net | 21,752) | 17,470) | 19,769) | 17,297) | 16,561) | 14,514) | 16,994) | 14,700) | 14,505) | 13,430) | 16,169) | 12,944) | 12,511) | 11,044) | 13,466) | 11,227) | 11,525) | 11,390) | ||||||
| Total quick assets | 112,012) | 98,650) | 101,361) | 61,745) | 63,632) | 84,744) | 94,809) | 85,600) | 72,585) | 71,550) | 81,572) | 74,067) | 65,957) | 48,483) | 54,204) | 53,003) | 52,014) | 55,280) | ||||||
| Current liabilities | 56,379) | 46,753) | 41,836) | 36,958) | 37,305) | 33,890) | 33,596) | 33,330) | 27,004) | 28,101) | 31,960) | 30,531) | 29,921) | 25,381) | 27,026) | 22,687) | 22,217) | 21,086) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Quick ratio1 | 1.99 | 2.11 | 2.42 | 1.67 | 1.71 | 2.50 | 2.82 | 2.57 | 2.69 | 2.55 | 2.55 | 2.43 | 2.20 | 1.91 | 2.01 | 2.34 | 2.34 | 2.62 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||
| Alphabet Inc. | 2.47 | 1.71 | 1.85 | 1.56 | 1.72 | 1.60 | 1.66 | 1.76 | 1.90 | 1.98 | 1.94 | 1.87 | 2.02 | 2.20 | 2.22 | 2.29 | 2.62 | 2.72 | ||||||
| Comcast Corp. | 0.65 | 0.71 | 0.70 | 0.69 | 0.71 | 0.51 | 0.53 | 0.60 | 0.54 | 0.49 | 0.50 | 0.56 | 0.61 | 0.55 | 0.62 | 0.63 | 0.68 | 0.71 | ||||||
| Netflix Inc. | 0.75 | 1.01 | 0.83 | 0.96 | 0.94 | 0.86 | 0.89 | 0.86 | 0.66 | 0.76 | 0.81 | 0.94 | 0.99 | 0.94 | 0.76 | 0.79 | 0.78 | 0.78 | ||||||
| Trade Desk Inc. | 1.68 | 1.64 | 1.55 | 1.64 | 1.68 | 1.79 | 1.83 | 1.81 | 1.75 | 1.77 | 1.69 | 1.84 | 1.84 | 1.87 | 1.87 | 1.88 | 1.87 | 1.85 | ||||||
| Walt Disney Co. | 0.55 | 0.54 | 0.55 | 0.57 | 0.54 | 0.55 | 0.54 | 0.53 | 0.57 | 0.69 | 0.85 | 0.87 | 0.83 | 0.83 | 0.83 | 0.87 | 0.91 | 0.98 | ||||||
Based on: 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).
1 Q2 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 112,012 ÷ 56,379 = 1.99
2 Click competitor name to see calculations.
The overall liquidity position remains robust throughout the analyzed period, as the quick ratio consistently maintains a value well above 1.0. This indicates a sustained ability to meet short-term obligations using the most liquid assets without relying on inventory sales. Despite this stability, the data reveals significant fluctuations in the underlying asset base and a steady increase in short-term obligations.
- Total Quick Assets Trends
- A long-term upward trajectory is observed in total quick assets, which grew from 55,280 million USD in March 2022 to 112,012 million USD by June 2026. However, this growth was non-linear, characterized by a notable contraction in the first half of 2025, where assets declined from 84,744 million USD in December 2024 to a low of 61,745 million USD in June 2025. A rapid recovery followed, with assets peaking at 101,361 million USD in December 2025 before continuing to climb through mid-2026.
- Current Liabilities Evolution
- Current liabilities exhibited a consistent and nearly uninterrupted increase over the period. Obligations rose from 21,086 million USD in March 2022 to 56,379 million USD in June 2026. The pace of increase accelerated significantly during the 2025-2026 window, with liabilities growing by approximately 19,500 million USD in the final three quarters of the data set, reflecting a substantial expansion in short-term debt or accrued expenses.
- Quick Ratio Volatility and Interpretation
- The quick ratio fluctuated between a high of 2.82 in December 2023 and a low of 1.67 in September 2025. The peak in late 2023 resulted from a surge in quick assets paired with relatively stable liabilities. Conversely, the decline observed in 2025 was driven by the simultaneous decrease in liquid assets and an increase in current liabilities. By June 2026, the ratio settled at 1.99, suggesting that while liquidity remains healthy, the margin of safety has tightened compared to the highs of 2023 and 2024 due to the accelerated growth of current liabilities.
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Cash Ratio
Meta Platforms Inc., cash ratio calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Cash and cash equivalents | 15,462) | 23,426) | 35,873) | 10,187) | 12,005) | 28,750) | 43,889) | 43,852) | 32,045) | 32,307) | 41,862) | 36,890) | 28,785) | 11,551) | 14,681) | 14,308) | 12,681) | 14,886) | ||||||
| Marketable securities | 74,798) | 57,754) | 45,719) | 34,261) | 35,066) | 41,480) | 33,926) | 27,048) | 26,035) | 25,813) | 23,541) | 24,233) | 24,661) | 25,888) | 26,057) | 27,468) | 27,808) | 29,004) | ||||||
| Total cash assets | 90,260) | 81,180) | 81,592) | 44,448) | 47,071) | 70,230) | 77,815) | 70,900) | 58,080) | 58,120) | 65,403) | 61,123) | 53,446) | 37,439) | 40,738) | 41,776) | 40,489) | 43,890) | ||||||
| Current liabilities | 56,379) | 46,753) | 41,836) | 36,958) | 37,305) | 33,890) | 33,596) | 33,330) | 27,004) | 28,101) | 31,960) | 30,531) | 29,921) | 25,381) | 27,026) | 22,687) | 22,217) | 21,086) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Cash ratio1 | 1.60 | 1.74 | 1.95 | 1.20 | 1.26 | 2.07 | 2.32 | 2.13 | 2.15 | 2.07 | 2.05 | 2.00 | 1.79 | 1.48 | 1.51 | 1.84 | 1.82 | 2.08 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||
| Alphabet Inc. | 1.92 | 1.14 | 1.23 | 0.99 | 1.09 | 1.04 | 1.07 | 1.15 | 1.29 | 1.40 | 1.36 | 1.39 | 1.52 | 1.67 | 1.64 | 1.76 | 2.04 | 2.16 | ||||||
| Comcast Corp. | 0.23 | 0.28 | 0.28 | 0.29 | 0.30 | 0.20 | 0.18 | 0.23 | 0.17 | 0.16 | 0.15 | 0.19 | 0.22 | 0.17 | 0.17 | 0.20 | 0.25 | 0.30 | ||||||
| Netflix Inc. | 0.75 | 1.01 | 0.83 | 0.96 | 0.94 | 0.86 | 0.89 | 0.86 | 0.66 | 0.76 | 0.81 | 0.94 | 0.99 | 0.94 | 0.76 | 0.79 | 0.78 | 0.78 | ||||||
| Trade Desk Inc. | 0.53 | 0.49 | 0.40 | 0.48 | 0.57 | 0.65 | 0.67 | 0.66 | 0.60 | 0.62 | 0.55 | 0.71 | 0.70 | 0.73 | 0.71 | 0.74 | 0.73 | 0.71 | ||||||
| Walt Disney Co. | 0.16 | 0.15 | 0.17 | 0.16 | 0.17 | 0.16 | 0.17 | 0.17 | 0.20 | 0.23 | 0.46 | 0.41 | 0.37 | 0.31 | 0.40 | 0.42 | 0.45 | 0.48 | ||||||
Based on: 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).
1 Q2 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 90,260 ÷ 56,379 = 1.60
2 Click competitor name to see calculations.
The liquidity position of the entity demonstrates a pattern of volatility characterized by fluctuating cash reserves and a consistent upward trajectory in short-term obligations between March 2022 and June 2026. While the overall cash balance grew significantly over the period, the cash ratio experienced several cycles of expansion and contraction, reflecting shifts in the balance between liquid assets and current liabilities.
- Cash Ratio Trends
- The cash ratio exhibited significant variance, starting at 2.08 in March 2022 and reaching a peak of 2.32 by December 2024. A notable period of decline occurred between December 2022 and March 2023, where the ratio dropped to 1.48. A second, more pronounced contraction is observed between December 2024 and September 2025, with the ratio falling to its lowest point of 1.20. By June 2026, the ratio settled at 1.60, remaining well above the 1.0 threshold, indicating a sustained ability to cover short-term liabilities using only cash assets.
- Total Cash Asset Movements
- Total cash assets showed a general long-term increase, rising from 43.89 billion in March 2022 to 90.26 billion by June 2026. This growth was non-linear, marked by significant surges, such as the increase to 65.40 billion by December 2023 and the peak of 81.59 billion in December 2025. Periodic decreases in cash assets, most notably in March 2023 and June 2025, correlate directly with the troughs observed in the cash ratio.
- Current Liability Expansion
- Current liabilities maintained a steady and consistent upward trend throughout the entire analyzed period. Obligations grew from 21.086 billion in March 2022 to 56.379 billion by June 2026. This consistent growth in liabilities acted as a downward pressure on the cash ratio, requiring the entity to substantially increase its cash holdings to maintain its liquidity margins.
- Liquidity Correlation Analysis
- The relationship between cash assets and liabilities reveals a strategic or operational fluctuation in liquidity management. The sharp increase in the cash ratio toward the end of 2024 suggests a period of aggressive cash accumulation. Conversely, the sharp decline in mid-2025 suggests significant cash utilization or a strategic reallocation of assets, despite the continued growth of the underlying liability base.
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