Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Selected Financial Data since 2012
- Net Profit Margin since 2012
- Price to Earnings (P/E) since 2012
- Price to Sales (P/S) since 2012
- Analysis of Revenues
- Analysis of Debt
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Historical Valuation Ratios (Summary)
Meta Platforms Inc., historical price multiples (quarterly data)
Based on: 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 analysis of the financial ratios over the given periods reveals significant fluctuations across all metrics, reflecting changing market perceptions, operational performance, and possibly external economic factors affecting valuation.
- Price to Earnings (P/E) Ratio
- The P/E ratio shows a notable downward trend from 27.69 in March 2021 to a low point of 9.01 in September 2022, indicating a period of decreasing market valuation relative to earnings. This was followed by a sharp increase reaching 35.58 in June 2023, suggesting improved investor confidence or rising share prices relative to earnings. Subsequently, the ratio stabilizes around the mid-20s to high-20s range towards the end of the period, suggesting normalization in market expectations.
- Price to Operating Profit (P/OP) Ratio
- This ratio exhibits a similar pattern to the P/E ratio. It declines steadily from 24.49 in March 2021 to a low of 7.39 in September 2022. A significant rebound ensues, peaking at 27.97 in June 2023 before fluctuating in the 20 to 25 range. The initial decline may indicate operational profit pressure or a decrease in market valuation relative to operating profits, with the later rebound reflecting recovery in operating profits or improved market sentiment.
- Price to Sales (P/S) Ratio
- The P/S ratio demonstrates a consistent downward trend from 9.9 in March 2021 to 2.2 in September 2022, reflecting diminished valuations relative to sales. However, there is a marked recovery after this point, climbing to 10.87 in June 2025 before a slight decline to 8.87 in the latest period. This pattern suggests initial challenges in sales valuation which were followed by increased optimism or growth, possibly indicating higher sales or improved revenue prospects.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio similarly declines from 6.99 in the first quarter of 2021 to a trough of 2.09 in September 2022. From there, a steady rise occurs, peaking at 9.96 in June 2025 before a moderate reduction to 8.66 in the latest quarter. The increase after mid-2022 could reflect improved assets management, increased book value, or enhanced market valuation of the company's net assets.
Overall, the data reveals a period of valuation contraction across all examined ratios leading up to the third quarter of 2022, after which a recovery phase is evident. The lowest valuations occur consistently during the September 2022 quarter, followed by significant recoveries by mid-2023 to mid-2025. This cyclical behavior may reflect broader market or industry conditions influencing the company's financial standing and investor sentiment. The recovery in valuations to levels similar or higher than early 2021 indicates restored confidence and potentially improved financial performance.
Price to Earnings (P/E)
Meta Platforms Inc., historical P/E calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Net income (in millions) | |||||||||||||||||||||||||
| Earnings per share (EPS)2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/E ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||||
| Comcast Corp. | |||||||||||||||||||||||||
| Netflix Inc. | |||||||||||||||||||||||||
| Trade Desk Inc. | |||||||||||||||||||||||||
| Walt Disney Co. | |||||||||||||||||||||||||
Based on: 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
EPS
= (Net incomeQ3 2025
+ Net incomeQ2 2025
+ Net incomeQ1 2025
+ Net incomeQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Meta Platforms Inc. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the financial data over the reported periods reveals several notable trends and fluctuations across key performance indicators.
- Share Price
- The share price exhibited significant volatility throughout the periods. Initially, it rose from $329.51 to a peak of $358.32, followed by a decline reaching a low of $97.94 in late 2022. Subsequently, there was a strong recovery phase, with the share price increasing steadily and reaching a high of $773.44 by mid-2025. This pattern suggests an initial market optimism, a subsequent period of downturn or correction, and a robust resurgence in valuation towards the latter periods.
- Earnings per Share (EPS)
- EPS trends demonstrated initial growth, increasing from $11.90 to a peak of $14.49, before experiencing a decline to $8.37 towards early 2023. Following this decrease, EPS showed consistent and substantial growth, reaching a high of $28.46 in late 2025. The rise in EPS during the later periods indicates improved profitability and operational performance despite earlier challenges.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio displayed considerable fluctuations, moving inversely to the EPS and share price changes. It decreased from 27.69 to a low of 9.01 by late 2022 during periods of declining share price and EPS. However, it spiked up to 35.58 in mid-2023 despite moderate EPS growth, implying market expectations outpacing earnings at that time. Subsequently, P/E stabilized mostly between 21 and 30, suggesting a more balanced valuation aligned with earnings growth in the last reported quarters.
In summary, the company experienced a cycle of volatility characterized by an initial period of share price strength and earnings growth, followed by a downturn impacting both valuation and profitability. This was succeeded by a recovery phase with sustained increases in EPS and share price, reflecting improving financial health and favorable market sentiment. The P/E ratio fluctuations throughout the periods indicate shifts in investor expectations and market valuation relative to earnings performance.
Price to Operating Profit (P/OP)
Meta Platforms Inc., historical P/OP calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Income from operations (in millions) | |||||||||||||||||||||||||
| Operating profit per share2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/OP ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||||
| Comcast Corp. | |||||||||||||||||||||||||
| Netflix Inc. | |||||||||||||||||||||||||
| Trade Desk Inc. | |||||||||||||||||||||||||
| Walt Disney Co. | |||||||||||||||||||||||||
Based on: 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Operating profit per share
= (Income from operationsQ3 2025
+ Income from operationsQ2 2025
+ Income from operationsQ1 2025
+ Income from operationsQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Meta Platforms Inc. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several significant trends in the company's share price, operating profit per share, and the price-to-operating profit ratio (P/OP) over the observed periods.
- Share Price (US$)
- The share price exhibited a fluctuating pattern with notable volatility. Initially, from March 2021 to March 2022, the share price declined from $329.51 to $205.73, reflecting a downward trend during this period. A sharper decrease is visible around mid-2022, reaching a low point of $97.94 in September 2022. Following this trough, the share price recovered substantially, increasing to a peak of $687 by December 2024. The price then dipped somewhat to $572.21 in June 2025 before rising again to $773.44 by September 2025, followed by a slight drop to $666.47 at the end of the period. Overall, the longer-term trajectory shows a recovery and upward momentum after a period of significant decline.
- Operating Profit Per Share (US$)
- The operating profit per share maintained a generally upward trajectory throughout the entire period. Starting at $13.46 in March 2021, it gradually rose to $17.18 by December 2021, then experienced a mild dip to $11.16 in December 2022. After this decline, the metric rebounded strongly and consistently, climbing to $32.49 by September 2025. This indicates improving operational efficiency or profitability on a per-share basis over time, despite some temporary setbacks around late 2022.
- Price-to-Operating Profit Ratio (P/OP)
- The P/OP ratio displayed considerable variability. It started relatively high at 24.49 in March 2021 and gradually decreased to a low of 7.39 by September 2022, indicating that the share price was becoming more attractive relative to operating profits during this period. However, the ratio saw a sharp increase to 16.91 in December 2022, followed by further oscillations, reaching a peak of 27.97 in June 2023 and fluctuating thereafter between roughly 20 and 25. These variations suggest changes in market sentiment or valuation relative to profitability, with periods of both more optimistic and more conservative investor assessments.
In summary, the company faced a period of declining share price and operating profits up to late 2022, followed by a recovery marked by rising operating profits per share and an overall increase in share price. The P/OP ratio's fluctuations highlight changing valuation perspectives throughout the timeline, reflecting both market uncertainties and renewed confidence as operational performance improved.
Price to Sales (P/S)
Meta Platforms Inc., historical P/S calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Revenue (in millions) | |||||||||||||||||||||||||
| Sales per share2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/S ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||||
| Comcast Corp. | |||||||||||||||||||||||||
| Netflix Inc. | |||||||||||||||||||||||||
| Trade Desk Inc. | |||||||||||||||||||||||||
| Walt Disney Co. | |||||||||||||||||||||||||
Based on: 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Sales per share
= (RevenueQ3 2025
+ RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Meta Platforms Inc. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited significant volatility over the observed periods. Initially, it increased from $329.51 to a peak of $358.32 by mid-2021, then declined sharply to $97.94 by the third quarter of 2022. Subsequently, a robust recovery phase occurred, lifting the price to a peak of $687 in the fourth quarter of 2024, followed by moderate fluctuations thereafter.
- Sales per Share Trend
- Sales per share demonstrated a steady and consistent upward trajectory throughout the entire timeframe. Beginning at $33.29, this metric gradually increased quarter over quarter, reaching $75.17 by the third quarter of 2025, indicating continuous growth in revenue generation on a per-share basis without any significant reversals or plateaus.
- Price-to-Sales (P/S) Ratio Trend
- The P/S ratio showed a declining trend from 9.9 in the first quarter of 2021 to a trough of 2.2 in the third quarter of 2022, reflecting a period where the share price fell faster than sales per share increased. Following this low, the P/S ratio surged again, reaching highs above 10 in late 2024 and mid-2025, indicative of share price appreciation outpacing sales growth during that phase. The ratio’s fluctuations suggest changing market sentiment regarding company valuation relative to its sales performance.
- Overall Insights
- The company experienced a period of share price depreciation despite steadily increasing sales per share, which may indicate market concerns or external factors influencing investor confidence. The strong recovery in share price in the later periods, combined with continued sales growth, signals renewed market optimism. The volatile P/S ratio emphasizes the changing valuation multiples investors were willing to pay. The consistent rise in sales per share underpins stable operational performance, while share price and valuation metrics reflect market dynamics and sentiment variability.
Price to Book Value (P/BV)
Meta Platforms Inc., historical P/BV calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Stockholders’ equity (in millions) | |||||||||||||||||||||||||
| Book value per share (BVPS)2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/BV ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||||
| Comcast Corp. | |||||||||||||||||||||||||
| Netflix Inc. | |||||||||||||||||||||||||
| Trade Desk Inc. | |||||||||||||||||||||||||
| Walt Disney Co. | |||||||||||||||||||||||||
Based on: 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Meta Platforms Inc. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price showed considerable volatility over the examined periods. Starting at $329.51, it climbed to a peak of $358.32 in mid-2021 before experiencing a downward trend to a low point of $97.94 by late 2022. This was followed by a strong recovery, culminating in a significant high of $687.00 by the end of 2024. Subsequently, there was a moderate decline and fluctuation, with the price settling around the mid-$600 range by the third quarter of 2025.
- Book Value Per Share (BVPS) Movement
- BVPS exhibited a more stable and gradual upward trend compared to share price. Starting from $47.14 in early 2021, it remained fairly consistent with minor fluctuations through 2022, then increased steadily from around $48.70 at the beginning of 2023 to approximately $77.65 by mid-2025. This growth indicates an ongoing increase in net asset value per share over the observed timeframe.
- Price-to-Book Value (P/BV) Ratio Analysis
- The P/BV ratio initially decreased sharply from 6.99 to a low of 2.09 by the third quarter of 2022, reflecting the decline in share price relative to book value. After this trough, the ratio recovered and showed a generally upward trend, reaching a peak of 9.96 in mid-2025. This indicates periods where the market price significantly outpaced the underlying book value, possibly driven by market optimism or growth expectations. The ratio's fluctuations highlight volatility in market sentiment relative to the company's net asset backing.
- Summary of Financial Position and Market Valuation
- Overall, the company’s net asset value per share increased steadily, suggesting strengthening fundamental value. However, the share price and consequently the price-to-book ratio experienced substantial fluctuations, indicating high market volatility and changing investor sentiment over the quarters. Notably, the recovery and subsequent peak in share price and P/BV in late 2023 through 2024 suggest renewed market confidence or improved performance expectations during that period.