Stock Analysis on Net

Meta Platforms Inc. (NASDAQ:META)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Microsoft Excel

Long-term Activity Ratios (Summary)

Meta Platforms Inc., long-term (investment) activity ratios (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Net fixed asset turnover 1.40 1.38 1.37 1.39 1.47 1.60 1.77 1.94 2.04 2.09 2.06 1.98 1.88 1.87 1.93 1.98 2.00
Net fixed asset turnover (including operating lease, right-of-use asset) 1.23 1.21 1.19 1.21 1.26 1.35 1.46 1.62 1.69 1.73 1.71 1.63 1.56 1.53 1.55 1.58 1.58
Total asset turnover 0.59 0.59 0.58 0.64 0.63 0.66 0.70 0.73 0.71 0.66 0.61 0.58 0.54 0.54 0.54 0.53 0.53
Equity turnover 0.88 0.89 0.90 0.94 0.93 0.95 0.95 0.97 0.94 0.84 0.76 0.71 0.67 0.67 0.68 0.70 0.70

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Meta Platforms Inc. net fixed asset turnover ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Meta Platforms Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Meta Platforms Inc. total asset turnover ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Meta Platforms Inc. equity turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Net Fixed Asset Turnover

Meta Platforms Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Revenue 40,112 34,146 31,999 28,645 32,165 27,714 28,822 27,908 33,671 29,010 29,077 26,171 28,071 21,470 18,687 17,737 21,082 17,652 16,886 15,077
Property and equipment, net 96,587 91,772 87,949 84,156 79,518 73,738 67,588 61,582 57,809 53,726 50,909 47,720 45,633 42,291 39,006 37,127 35,323 32,284 29,999 27,345
Long-term Activity Ratio
Net fixed asset turnover1 1.40 1.38 1.37 1.39 1.47 1.60 1.77 1.94 2.04 2.09 2.06 1.98 1.88 1.87 1.93 1.98 2.00
Benchmarks
Net Fixed Asset Turnover, Competitors2
Alphabet Inc. 2.29 2.36 2.39 2.42 2.51 2.60 2.62 2.59 2.64 2.53 2.40 2.25 2.15 2.10 2.11 2.17 2.20
Charter Communications Inc. 1.38 1.41 1.45 1.49 1.50 1.53 1.54 1.53 1.51 1.49 1.46 1.43 1.40 1.38 1.37 1.36 1.32
Comcast Corp. 2.04 2.08 2.12 2.13 2.19 2.26 2.27 2.23 2.15 2.15 2.07 1.99 1.99 2.07 2.15 2.24 2.25
Netflix Inc. 22.61 21.85 21.83 22.58 22.61 22.93 22.78 21.97 22.44 23.47 24.91 25.99 26.03 28.76 30.09 32.90 35.66
Walt Disney Co. 2.54 2.54 2.52 2.47 2.46 2.42 2.33 2.23 2.07 1.96 1.82 1.88 2.04 2.19 2.43 2.36 2.20 2.06 1.93 1.99

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Net fixed asset turnover = (RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023 + RevenueQ1 2023) ÷ Property and equipment, net
= (40,112 + 34,146 + 31,999 + 28,645) ÷ 96,587 = 1.40

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Meta Platforms Inc. net fixed asset turnover ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Meta Platforms Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Revenue 40,112 34,146 31,999 28,645 32,165 27,714 28,822 27,908 33,671 29,010 29,077 26,171 28,071 21,470 18,687 17,737 21,082 17,652 16,886 15,077
 
Property and equipment, net 96,587 91,772 87,949 84,156 79,518 73,738 67,588 61,582 57,809 53,726 50,909 47,720 45,633 42,291 39,006 37,127 35,323 32,284 29,999 27,345
Operating lease right-of-use assets 13,294 13,033 12,955 12,899 12,673 13,641 14,130 12,241 12,155 11,063 10,525 10,202 9,348 9,439 9,429 9,359 9,460 8,403 7,272 6,747
Property and equipment, net (including operating lease, right-of-use asset) 109,881 104,805 100,904 97,055 92,191 87,379 81,718 73,823 69,964 64,789 61,434 57,922 54,981 51,730 48,435 46,486 44,783 40,687 37,271 34,092
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 1.23 1.21 1.19 1.21 1.26 1.35 1.46 1.62 1.69 1.73 1.71 1.63 1.56 1.53 1.55 1.58 1.58
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Alphabet Inc. 2.07 2.12 2.13 2.16 2.23 2.31 2.33 2.31 2.33 2.22 2.10 1.96 1.88 1.83 1.84 1.89 1.91

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = (RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023 + RevenueQ1 2023) ÷ Property and equipment, net (including operating lease, right-of-use asset)
= (40,112 + 34,146 + 31,999 + 28,645) ÷ 109,881 = 1.23

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Meta Platforms Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Total Asset Turnover

Meta Platforms Inc., total asset turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Revenue 40,112 34,146 31,999 28,645 32,165 27,714 28,822 27,908 33,671 29,010 29,077 26,171 28,071 21,470 18,687 17,737 21,082 17,652 16,886 15,077
Total assets 229,623 216,274 206,688 184,491 185,727 178,894 169,779 164,218 165,987 169,585 170,609 163,523 159,316 146,437 139,691 138,371 133,376 124,418 117,006 109,477
Long-term Activity Ratio
Total asset turnover1 0.59 0.59 0.58 0.64 0.63 0.66 0.70 0.73 0.71 0.66 0.61 0.58 0.54 0.54 0.54 0.53 0.53
Benchmarks
Total Asset Turnover, Competitors2
Alphabet Inc. 0.76 0.75 0.76 0.77 0.77 0.79 0.78 0.76 0.72 0.69 0.66 0.60 0.57 0.57 0.60 0.61 0.59
Charter Communications Inc. 0.37 0.37 0.37 0.38 0.37 0.37 0.37 0.36 0.36 0.36 0.35 0.34 0.33 0.33 0.32 0.32 0.31
Comcast Corp. 0.46 0.46 0.46 0.46 0.47 0.48 0.46 0.44 0.42 0.41 0.39 0.37 0.38 0.39 0.40 0.41 0.41
Netflix Inc. 0.69 0.66 0.63 0.64 0.65 0.66 0.67 0.67 0.67 0.67 0.67 0.66 0.64 0.62 0.61 0.61 0.59
Walt Disney Co. 0.43 0.43 0.42 0.42 0.41 0.40 0.38 0.36 0.33 0.31 0.29 0.30 0.32 0.34 0.38 0.37 0.36 0.31 0.28 0.59

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Total asset turnover = (RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023 + RevenueQ1 2023) ÷ Total assets
= (40,112 + 34,146 + 31,999 + 28,645) ÷ 229,623 = 0.59

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Meta Platforms Inc. total asset turnover ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Equity Turnover

Meta Platforms Inc., equity turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Revenue 40,112 34,146 31,999 28,645 32,165 27,714 28,822 27,908 33,671 29,010 29,077 26,171 28,071 21,470 18,687 17,737 21,082 17,652 16,886 15,077
Stockholders’ equity 153,168 142,873 134,033 124,795 125,713 124,094 125,767 123,228 124,879 133,360 138,227 133,657 128,290 117,731 110,447 105,304 101,054 93,999 88,762 86,516
Long-term Activity Ratio
Equity turnover1 0.88 0.89 0.90 0.94 0.93 0.95 0.95 0.97 0.94 0.84 0.76 0.71 0.67 0.67 0.68 0.70 0.70
Benchmarks
Equity Turnover, Competitors2
Alphabet Inc. 1.08 1.09 1.08 1.09 1.10 1.11 1.09 1.06 1.02 0.98 0.93 0.86 0.82 0.81 0.80 0.82 0.80
Charter Communications Inc. 4.93 4.92 5.21 5.78 5.92 6.03 5.38 4.34 3.68 3.00 2.58 2.33 2.02 1.76 1.59 1.56 1.46
Comcast Corp. 1.47 1.46 1.43 1.46 1.50 1.51 1.33 1.27 1.21 1.19 1.15 1.13 1.15 1.21 1.26 1.33 1.32
Netflix Inc. 1.64 1.48 1.41 1.46 1.52 1.53 1.63 1.73 1.87 1.87 1.99 2.05 2.26 2.31 2.42 2.55 2.66
Walt Disney Co. 0.90 0.90 0.89 0.88 0.87 0.88 0.85 0.81 0.76 0.73 0.68 0.72 0.78 0.81 0.87 0.84 0.78 0.72 0.66 1.18

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Equity turnover = (RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023 + RevenueQ1 2023) ÷ Stockholders’ equity
= (40,112 + 34,146 + 31,999 + 28,645) ÷ 153,168 = 0.88

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Meta Platforms Inc. equity turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.