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: 2026-09-30), 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).
The liquidity profile exhibits a pattern of volatility characterized by periodic contractions followed by strong recoveries, while consistently maintaining ratios well above the 1.0 threshold. This indicates a robust capacity to meet short-term obligations across the observed timeframe.
- Current Ratio Analysis
- The current ratio began at 2.81 in March 2022, experiencing a gradual decline to a low of 2.07 by March 2023. A subsequent upward trend led to a peak of 2.98 in December 2024. A significant contraction followed in mid-2025, with the ratio falling to 1.97 in June 2025, before recovering to 2.60 in December 2025 and ultimately trending downward to 1.90 by September 2026.
- Quick Ratio Analysis
- The quick ratio closely mirrors the trajectory of the current ratio, starting at 2.62 and reaching a trough of 1.91 in March 2023. A peak of 2.82 was recorded in December 2024. A sharp decline to 1.67 occurred in June 2025, followed by a recovery to 2.42 in December 2025 and a final descent to 1.67 by September 2026. The minimal variance between the current and quick ratios indicates that inventories represent a negligible portion of the total current assets.
- Cash Ratio Analysis
- The cash ratio demonstrates a high level of immediate liquidity, beginning at 2.08 and dipping to 1.48 in March 2023. It reached its maximum value of 2.32 in December 2024. A notable reduction to 1.20 was observed in June 2025, which rebounded to 1.95 by December 2025 before settling at 1.31 in September 2026. The consistently elevated cash ratio suggests a conservative treasury strategy with substantial cash reserves relative to current liabilities.
Across all three metrics, a synchronized cyclicality is evident, particularly the sharp contractions observed in mid-2025 and the subsequent peaks in December 2025. The close convergence of these ratios underscores a liquidity structure heavily weighted toward cash and cash equivalents.
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Current Ratio
Meta Platforms Inc., current ratio calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Current assets | 119,900) | 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 | 63,011) | 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 | 1.90 | 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. | 2.79 | 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. | 0.82 | 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. | 1.07 | 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 | ||||||
| Walt Disney Co. | 0.71 | 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: 2026-09-30), 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).
1 Q3 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 119,900 ÷ 63,011 = 1.90
2 Click competitor name to see calculations.
The overall liquidity position is characterized by a substantial growth in both current assets and current liabilities, with the current ratio remaining consistently above 1.0. This indicates a sustained capacity to cover short-term obligations, although the margin of safety has fluctuated over the analyzed period.
- Current Asset Trajectory
- Current assets exhibit a general upward trend, rising from 59,265 million USD in March 2022 to 119,900 million USD by September 2026. While the long-term growth is evident, the trajectory is marked by periodic volatility, most notably a contraction in early 2023 and another significant dip during the second and third quarters of 2025.
- Current Liability Growth
- Current liabilities demonstrate a more consistent and linear increase, growing from 21,086 million USD in March 2022 to 63,011 million USD by September 2026. The steady rise in obligations suggests an expansion of short-term financing or operational costs over the five-year window.
- Current Ratio Analysis
- The current ratio fluctuates between a high of 2.98 in December 2023 and a low of 1.90 in September 2026. A period of relative stability and strength is observed through 2023 and 2024, where the ratio frequently exceeded 2.50. However, a notable decline occurs in 2025, where the ratio drops toward 1.97, followed by a temporary recovery to 2.60 in December 2025 before trending downward again toward the end of the period. This pattern suggests that liability growth has begun to outpace asset growth in the latter stages of the analysis.
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Quick Ratio
Meta Platforms Inc., quick ratio calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Cash and cash equivalents | 11,222) | 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 | 71,227) | 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 | 22,716) | 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 | 105,165) | 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 | 63,011) | 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 | 1.67 | 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. | 2.51 | 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. | 0.69 | 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. | 0.67 | 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 | ||||||
| Walt Disney Co. | 0.56 | 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: 2026-09-30), 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).
1 Q3 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 105,165 ÷ 63,011 = 1.67
2 Click competitor name to see calculations.
The company maintains a strong liquidity position throughout the analyzed period, as the quick ratio consistently remains above 1.0, indicating an ongoing ability to meet short-term obligations using only its most liquid assets. While the absolute value of quick assets has increased significantly over the timeline, the liquidity ratio exhibits volatility, reflecting periods where the growth of current liabilities outpaced asset accumulation.
- Quick Asset Trajectory
- A general upward trend in total quick assets is observed, rising from 55,280 million USD in March 2022 to a peak of 112,012 million USD in June 2026. Despite this growth, notable fluctuations occurred, particularly during the first half of 2025, where assets dipped to 61,745 million USD in June 2025 before recovering sharply toward the end of the year.
- Current Liabilities Evolution
- Current liabilities demonstrate a consistent and steady increase over the entire period. Obligations grew from 21,086 million USD in March 2022 to 63,011 million USD by September 2026. This steady rise in short-term debt and obligations has acted as a constant downward pressure on the overall liquidity ratio.
- Quick Ratio Volatility and Trends
- The quick ratio experienced three distinct phases. First, a period of contraction occurred between March 2022 and March 2023, with the ratio falling from 2.62 to 1.91. This was followed by a recovery phase, reaching a peak of 2.82 in December 2023. The final phase is characterized by increased instability, marked by a sharp decline to 1.67 in June 2025 and a subsequent return to 1.67 by September 2026, despite a temporary recovery to 2.42 in December 2025.
- Liquidity Analysis Insight
- The convergence of the quick ratio toward the 1.67 level by the end of the period suggests a tightening of liquidity compared to the peak in 2023. However, because the ratio remains comfortably above the 1.0 threshold, the company continues to possess a substantial cushion of liquid assets to cover its current liabilities without relying on the sale of inventory.
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Cash Ratio
Meta Platforms Inc., cash ratio calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Cash and cash equivalents | 11,222) | 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 | 71,227) | 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 | 82,449) | 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 | 63,011) | 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 | 1.31 | 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. | 1.97 | 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. | 0.25 | 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. | 0.67 | 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 | ||||||
| Walt Disney Co. | 0.15 | 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: 2026-09-30), 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).
1 Q3 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 82,449 ÷ 63,011 = 1.31
2 Click competitor name to see calculations.
The analysis of the company's liquidity position from March 2022 to September 2026 reveals a consistently strong ability to cover short-term obligations using only cash and cash equivalents, as the cash ratio remains above 1.0 throughout the entire period. However, the data indicates significant volatility in both cash holdings and the resulting ratio, reflecting fluctuating liquidity strategies or operational shifts.
- Cash Asset Volatility
- Total cash assets experienced several distinct cycles of expansion and contraction. An initial decline occurred between March 2022 and March 2023, reaching a period low of 37,439 million US$. This was followed by a substantial accumulation of cash, peaking at 77,815 million US$ by December 2023. A second sharp contraction took place in mid-2025, with assets falling to 44,448 million US$ in June 2025, before rising to a period high of 90,260 million US$ in June 2026.
- Current Liability Trends
- Current liabilities demonstrate a long-term upward trajectory. Starting at 21,086 million US$ in March 2022, liabilities grew steadily to 33,890 million US$ by December 2023. A more pronounced increase is observed in the later stages of the period, with liabilities climbing to 63,011 million US$ by September 2026, effectively tripling the baseline from the start of the analyzed period.
- Cash Ratio Dynamics
- The cash ratio exhibited cyclical patterns. After dipping to 1.48 in March 2023, the ratio improved to a peak of 2.32 in December 2023, indicating a highly liquid position. A significant decline occurred in 2025, where the ratio dropped to a low of 1.20 by June 2025. While a recovery to 1.95 was recorded in December 2025, the subsequent rise in current liabilities has led to a downward trend, ending at 1.31 in September 2026.
The overarching trend suggests that while the company maintains a conservative liquidity buffer, the increasing scale of current liabilities is beginning to offset the growth in cash assets. The recurring fluctuations in the cash ratio indicate periodic shifts in cash management, though the company consistently retains sufficient immediate liquidity to meet its short-term debts.
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