Price to FCFE (P/FCFE)
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- Analysis of Profitability Ratios
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Current Ratio since 2012
- Price to Operating Profit (P/OP) since 2012
- Price to Book Value (P/BV) since 2012
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Free Cash Flow to Equity (FCFE)
Meta Platforms Inc., FCFE calculation
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
Net cash provided by operating activities and free cash flow to equity (FCFE) both demonstrate positive trends over the observed period. While fluctuations exist, both metrics generally increased from 2021 to 2025.
- Net Cash from Operations
- Net cash provided by operating activities decreased from US$57,683 million in 2021 to US$50,475 million in 2022, representing a decline. However, a substantial recovery and subsequent growth were observed, with values reaching US$71,113 million in 2023, US$91,328 million in 2024, and further increasing to US$115,800 million in 2025. This indicates improving operational cash generation capabilities.
- Free Cash Flow to Equity (FCFE)
- Free cash flow to equity followed a similar pattern to net cash from operations. A decrease was noted from US$38,439 million in 2021 to US$28,360 million in 2022. FCFE then exhibited consistent growth, reaching US$51,465 million in 2023, US$62,535 million in 2024, and US$73,491 million in 2025. The positive trajectory suggests increasing cash available to equity holders.
- Relationship between Metrics
- FCFE consistently represents a portion of the net cash provided by operating activities. The difference between the two likely reflects financing activities and non-equity related cash outflows. The parallel upward trends suggest that improvements in operational cash flow are translating into increased cash flow available to equity investors.
The observed increases in both metrics from 2022 to 2025 are particularly noteworthy, suggesting a strengthening financial position and potentially increased capacity for shareholder returns, debt reduction, or strategic investments.
Price to FCFE Ratio, Current
Meta Platforms Inc., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Alphabet Inc. | |
| Comcast Corp. | |
| Netflix Inc. | |
| Trade Desk Inc. | |
| Walt Disney Co. | |
| P/FCFE, Sector | |
| Media & Entertainment | |
| P/FCFE, Industry | |
| Communication Services | |
Based on: 10-K (reporting date: 2025-12-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Meta Platforms Inc., historical P/FCFE calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Free cash flow to equity (FCFE) (in millions)2 | ||||||
| FCFE per share3 | ||||||
| Share price1, 4 | ||||||
| Valuation Ratio | ||||||
| P/FCFE5 | ||||||
| Benchmarks | ||||||
| P/FCFE, Competitors6 | ||||||
| Alphabet Inc. | ||||||
| Comcast Corp. | ||||||
| Netflix Inc. | ||||||
| Trade Desk Inc. | ||||||
| Walt Disney Co. | ||||||
| P/FCFE, Sector | ||||||
| Media & Entertainment | ||||||
| P/FCFE, Industry | ||||||
| Communication Services | ||||||
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
1 Data adjusted for splits and stock dividends.
3 2025 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Meta Platforms Inc. Annual Report.
5 2025 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
The Price to Free Cash Flow to Equity (P/FCFE) ratio exhibited a generally increasing trend over the observed period, though with some fluctuation. Initial values were relatively stable before a marked increase in later years. Concurrent increases were observed in both share price and FCFE per share, contributing to the changes in the ratio.
- Share Price
- The share price demonstrated a decline from 2021 to 2022, followed by substantial growth through 2025. The most significant increase occurred between 2022 and 2023, with more moderate gains in subsequent years. The price reached 738.31 by the end of 2025.
- FCFE per Share
- FCFE per share followed a similar pattern to the share price, decreasing from 2021 to 2022, then increasing consistently through 2025. The growth rate of FCFE per share accelerated in the later years of the period, culminating in a value of 29.05 in 2025. This suggests improving cash flow generation relative to equity holders.
- P/FCFE Ratio
- The P/FCFE ratio began at 16.84 in 2021 and increased to 17.26 in 2022. A more pronounced increase was then observed, reaching 23.53 in 2023 and peaking at 27.83 in 2024. The ratio experienced a slight decrease in 2025, settling at 25.41. The overall upward trend indicates that the market valuation increased relative to the free cash flow available to equity holders, although the rate of increase slowed in the final year.
The concurrent increases in share price and FCFE per share suggest a positive market perception of the company’s ability to generate cash flow. However, the increasing P/FCFE ratio also implies that investors were willing to pay a higher premium for each dollar of FCFE over time, potentially indicating increasing growth expectations or a shift in investor sentiment.