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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- Balance Sheet: Assets
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- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
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- Current Ratio since 2012
- Price to Operating Profit (P/OP) since 2012
- Price to Book Value (P/BV) since 2012
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Historical Valuation Ratios (Summary)
Meta Platforms Inc., historical price multiples (quarterly data)
Based on: 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), 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).
- Price to Earnings (P/E) Ratio
- The P/E ratio data, available from the quarter ending March 31, 2021, exhibits significant fluctuations over the examined periods. Initially, the ratio peaked at 27.69 in June 2021 but then exhibited a steady decline, reaching a low of 9.01 by December 2022. This downward trend indicates a period of improving earnings or a reevaluation of stock price relative to earnings. However, following this trough, the P/E ratio rebounded sharply to 35.58 in September 2023, indicating increased stock price relative to earnings or potential erosion in earnings. Subsequently, the ratio once again decreased towards the latest period, ending at 21.59 in March 2025. The transient peaks and troughs suggest episodic market reassessment of earnings potential and valuation.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio follows a pattern somewhat analogous to the P/E ratio, denoting similar valuation dynamics relative to operating profits. Starting at 23.1 in March 2021, it declined steadily to a low point of 7.39 in December 2022, implying either an increase in operating profit or a reduction in share price relative to operating income. Subsequently, the ratio surged sharply to a high of 27.97 by September 2023, reflecting increased price levels relative to operating profit or declining operating profit margins. The ratio then declined again but remained elevated compared to the trough, stabilizing around levels near 20 by March 2025. This trend indicates volatility in market perceptions of the company’s operating profitability and valuation multiples.
- Price to Sales (P/S) Ratio
- The P/S ratio demonstrates a pronounced declining trend from March 2021 onward, falling from 8.78 to a trough of 2.2 in December 2022. This pattern suggests that the share price decreased significantly relative to sales, or that sales increased faster than price, likely indicating investor caution or increasing revenues. Following this trough, the ratio showed a consistent upward trend, climbing back to 10.58 by December 2024 before slightly dropping to 8.45 in March 2025. These movements indicate a recovery in market confidence or valuation multiples relative to sales after a period of undervaluation.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio data is complete across the entire time span and reflects significant cyclical movements. Beginning at 5.54 in March 2020, the ratio rose to a peak at 7.31 by June 2021, followed by a continuous decline to a minimum of 2.09 in September 2022, revealing a reduction in stock price relative to book value or an increase in book equity. Afterwards, the ratio recovered, rising steadily to nearly 9.53 by December 2024, the highest point in this time frame, before falling back to 7.78 in March 2025. This volatility suggests shifts in investor sentiment, balance sheet strength perception, or changes in asset revaluation over time.
- Overall Insights
- The metrics collectively reveal a period of valuation compression across multiple ratios from early 2021 to late 2022, likely reflecting market uncertainty or improving fundamentals leading to lower valuation multiples. This phase is followed by marked rebound phases in 2023 and 2024, indicating renewed investor confidence or market re-rating of the company’s growth prospects or profitability. The oscillations in all ratios denote a dynamic market environment characterized by cyclical investor sentiment, underlying financial performance improvements, and potential macroeconomic influences affecting valuation benchmarks.
Price to Earnings (P/E)
Meta Platforms Inc., historical P/E calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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. | ||||||||||||||||||||||||||||
| Take-Two Interactive Software Inc. | ||||||||||||||||||||||||||||
| Walt Disney Co. | ||||||||||||||||||||||||||||
Based on: 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
EPS
= (Net incomeQ1 2025
+ Net incomeQ4 2024
+ Net incomeQ3 2024
+ Net incomeQ2 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Meta Platforms Inc. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The data reveals notable fluctuations and trends in the share price, earnings per share (EPS), and price-to-earnings (P/E) ratio over the observed periods.
- Share Price
- The share price demonstrated considerable volatility across the quarters. Initially, it increased from $204.71 in March 2020 to a peak of $358.32 by June 2021. This was followed by a marked decline reaching a low of $97.94 in September 2022. Subsequently, the share price recovered substantially, rising sharply to $474.99 by December 2023 and continuing an upward trajectory to attain $687 in March 2025 before a slight dip to $572.21 in the latest quarter.
- Earnings Per Share (EPS)
- EPS data begins from December 2020 with $10.24 and shows a steady growth trend through the timeline. From $10.24, the EPS increased gradually to $14.49 by December 2021. A decrease occurred afterward, bottoming at $8.37 in June 2023, indicating a period of diminished profitability. However, a strong recovery ensued with EPS climbing to $26.5 by March 2025, reflecting improved earnings performance and profitability over the long-term horizon.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio exhibits considerable variability in response to the changing share price and EPS levels. It was relatively moderate between 16.44 and 27.69 during 2021, then decreased notably to 9.01 by December 2022, which may correspond to the period of declining share price and EPS. Following this, the ratio experienced substantial increases, peaking at 35.58 in September 2023, indicating that share prices were high relative to earnings at that point. Later quarters reveal fluctuations in the mid-20s range, suggestive of adjustments in market valuation relative to earnings.
Overall, the trends indicate a period of strong growth followed by a phase of correction and recovery. The improving EPS towards the end of the period aligns with the rising share price, while P/E ratio fluctuations suggest changing investor sentiment and market valuation multiples over time. This pattern reflects a dynamic financial performance with periods of both stress and robust growth.
Price to Operating Profit (P/OP)
Meta Platforms Inc., historical P/OP calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||
| Take-Two Interactive Software Inc. | ||||||||||||||||||||||||||||
| Walt Disney Co. | ||||||||||||||||||||||||||||
Based on: 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
Operating profit per share
= (Income from operationsQ1 2025
+ Income from operationsQ4 2024
+ Income from operationsQ3 2024
+ Income from operationsQ2 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Meta Platforms Inc. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price experienced notable fluctuations throughout the reviewed periods. Initially, it increased from $204.71 at the end of March 2020 to a peak of $358.32 in June 2021. However, this was followed by a significant decline, reaching as low as $97.94 in September 2022. Subsequently, the price rebounded strongly, escalating swiftly to $687 by March 2025, despite some interim volatility. Overall, the share price demonstrates periods of considerable growth punctuated by sharp corrections.
- Operating Profit per Share (OPPS) Trend
- Operating profit per share data is available from December 2020 onward. It showed a steady increase from $11.47 at the end of 2020 to $17.18 by March 2022. Following this, there was a gradual decline reaching a low point of $10.79 in June 2023. After this trough, OPPS commenced a strong recovery, rising significantly to $29.08 by March 2025. The trend indicates a resilient and improving operating profitability in the long term, despite some mid-term pressure.
- Price-to-Operating Profit Ratio (P/OP) Analysis
- The P/OP ratio fluctuated inversely with the operating profit per share and share price movements. Starting at 23.1 in March 2021, this ratio improved considerably, declining to a low of 7.39 at the end of 2022 which reflects the depressed share price combined with relatively high profitability during that period. However, from early 2023 onwards, the ratio escalated, reaching 25.09 by March 2025. This increase indicates a market valuation rise that outpaced operating profit expansion, suggesting elevated investor expectations relative to operational earnings.
- Overall Insights
- The financial indicators show cyclicality in both market valuation and operational profitability. The sharp declines in share price and operating profit per share around 2022 imply potential external or internal challenges during that period, whereas the subsequent strong recovery points to a restoration of confidence and improved earnings performance. The rising P/OP ratio in recent periods suggests that the market values the company's future profit growth prospects more optimistically than in the earlier part of the timeline.
Price to Sales (P/S)
Meta Platforms Inc., historical P/S calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||
| Take-Two Interactive Software Inc. | ||||||||||||||||||||||||||||
| Walt Disney Co. | ||||||||||||||||||||||||||||
Based on: 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
Sales per share
= (RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024
+ RevenueQ2 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Meta Platforms Inc. Quarterly or Annual Report.
4 Q1 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 reported periods. Starting at $204.71 in March 2020, the price increased steadily to a peak of $358.32 by June 2021, followed by a sharp decline to $97.94 in September 2022. Subsequently, the share price recovered remarkably, reaching a high of $687 in March 2025 before slightly decreasing to $572.21 by the end of the observed timeframe.
- Sales Per Share Development
- Sales per share showed a consistent and gradual upward trend throughout the periods where data was available. From $30.19 in December 2020, sales per share continuously increased each quarter, reaching $67.76 by March 2025. This steady growth indicates robust sales performance on a per-share basis over time.
- Price-to-Sales (P/S) Ratio Analysis
- The P/S ratio fluctuated significantly over the periods. Initially, it rose to 9.9 in June 2021, then declined sharply to a low of 2.2 in December 2022, reflecting the drop in share price amid relatively stable sales per share. Following this low, the ratio experienced a resurgence, peaking at 10.58 in March 2025 before slightly correcting to 8.45 by the last date. These movements suggest changes in market valuation sentiment relative to the company’s sales performance.
- Insights
- The data indicates a company with strong underlying sales growth per share alongside a highly volatile stock price. The sharp share price fluctuations, combined with the P/S ratio movements, may imply periods of market uncertainty or external impacts on investor confidence that are not directly related to sales performance. The recovery and peak in share price towards the end of the observed periods highlight renewed investor optimism or improved market conditions.
Price to Book Value (P/BV)
Meta Platforms Inc., historical P/BV calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||
| Take-Two Interactive Software Inc. | ||||||||||||||||||||||||||||
| Walt Disney Co. | ||||||||||||||||||||||||||||
Based on: 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q1 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 Q1 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited notable volatility over the analyzed periods. From March 2020 through December 2021, the price rose from $204.71 to a peak of $358.32 in June 2021, then declined sharply to $237.76 by December 2021. A downward trend continued into late 2022, reaching a low of $97.94 in September 2022. Following this trough, the price rebounded strongly into the first quarter of 2024, peaking at $687 in March 2025 before experiencing a slight decrease to $572.21 by the end of the period.
- Book Value Per Share (BVPS) Trend
- Book value per share showed a consistent and steady increase throughout the entire timeframe. It rose from $36.96 in March 2020 to $73.59 by March 2025, nearly doubling over five years. The growth in BVPS appears stable without significant fluctuations, indicating ongoing accumulation of shareholder equity.
- Price to Book Value (P/BV) Ratio Trends
- The P/BV ratio fluctuated significantly, reflecting the variability in share price relative to the more stable growth of book value per share. Initially, the ratio increased from 5.54 in March 2020 to a high of 7.31 in June 2021, coinciding with share price gains. Following this peak, it declined sharply to a low of 2.09 in September 2022, aligning with the share price trough. Subsequently, the ratio recovered and rose again to a peak of 9.53 in March 2025, before settling at 7.78 in the last reported quarter. These shifts indicate periods of market optimism and correction relative to the firm's book value.
- Summary Insights
- Overall, the data reveals a company experiencing significant market valuation fluctuations around a steadily growing book value base. The sharp declines and rebounds in share price through 2022 and into 2025 suggest external market factors heavily influenced investor sentiment and valuation multiples. The consistent increase in BVPS suggests underlying financial strength and asset growth. The high variability in P/BV ratio highlights changing perceptions of growth prospects or risk, with cyclical investor enthusiasm reflected in the elevated premiums paid over book value during peak periods.