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).
Historical Valuation Ratios (Summary)
Meta Platforms Inc., historical price multiples (quarterly data)
Based on: 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), 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 Price to Earnings (P/E) ratio exhibits notable fluctuations over the analyzed periods. Starting without data until March 31, 2020, the ratio peaks at 35.58 in the September 30, 2023 quarter, indicating a relatively high market valuation compared to earnings at that time. Following this peak, there is a decline to 24.92 by December 31, 2023, with subsequent oscillations around mid-20s through to June 30, 2025. Earlier in the data, the ratio shows a downward trend from 21.8 in December 31, 2020 to a low of 9.01 in December 31, 2022. This suggests periods of increasing earnings relative to price, or market adjustments in valuation.
- Price to Operating Profit (P/OP) Ratio
- The Price to Operating Profit ratio mirrors a similar pattern to the P/E ratio, with high values earlier and a decline towards December 31, 2022, reaching its lowest value of 7.39. This suggests improved operating profit margins or lower market price relative to operating profit during that period. After this trough, the ratio increases sharply to 27.97 by September 30, 2023 before experiencing a moderate decline towards June 30, 2025. These movements indicate fluctuating investor sentiment regarding operating profitability over the quarters.
- Price to Sales (P/S) Ratio
- The Price to Sales ratio shows a clear declining trend from early 2021 through December 31, 2022, decreasing from 9.9 to a low of 2.2, reflecting a reduced market valuation relative to sales. Following this low, the ratio increases steadily, reaching 10.87 by June 30, 2025, surpassing earlier highs. The upward trend in recent quarters suggests strengthening investor confidence in revenue growth or expectations of future sales performance.
- Price to Book Value (P/BV) Ratio
- The Price to Book Value ratio starts at 5.54 on March 31, 2020 and experiences an overall increase towards the end of the period. It declines through late 2022, hitting a low of 2.09 in September 30, 2022, before ascending again to peak at 9.96 on June 30, 2025. This indicates that the market's valuation relative to the company's book value decreased significantly initially but then recovered strongly, reflecting improved market perceptions of intrinsic value or asset quality.
Price to Earnings (P/E)
Meta Platforms Inc., historical P/E calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 2,512,141,475 | 2,514,327,249 | 2,533,659,265 | 2,524,488,533 | 2,529,816,753 | 2,536,534,191 | 2,549,405,106 | 2,569,862,732 | 2,573,161,373 | 2,562,732,034 | 2,592,639,548 | 2,651,548,674 | 2,687,548,472 | 2,706,323,387 | 2,721,941,960 | 2,781,759,516 | 2,819,444,501 | 2,835,464,834 | 2,847,669,951 | 2,848,292,671 | 2,848,815,818 | 2,849,103,300 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Net income (in millions) | 18,337) | 16,644) | 20,838) | 15,688) | 13,465) | 12,369) | 14,018) | 11,583) | 7,788) | 5,709) | 4,653) | 4,395) | 6,687) | 7,465) | 10,285) | 9,194) | 10,394) | 9,497) | 11,220) | 7,846) | 5,178) | 4,902) | |||||||
| Earnings per share (EPS)2 | 28.46 | 26.50 | 24.61 | 22.00 | 20.33 | 18.04 | 15.34 | 11.57 | 8.76 | 8.37 | 8.95 | 10.87 | 12.51 | 13.80 | 14.46 | 14.49 | 13.82 | 11.90 | 10.24 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 773.44 | 572.21 | 687.00 | 567.58 | 497.74 | 441.38 | 474.99 | 288.35 | 311.71 | 238.56 | 188.77 | 97.94 | 160.72 | 205.73 | 237.76 | 315.81 | 358.32 | 329.51 | 265.00 | 263.11 | 253.67 | 204.71 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/E ratio4 | 27.17 | 21.59 | 27.91 | 25.80 | 24.48 | 24.47 | 30.97 | 24.92 | 35.58 | 28.51 | 21.10 | 9.01 | 12.84 | 14.91 | 16.44 | 21.80 | 25.93 | 27.69 | 25.89 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Alphabet Inc. | 20.22 | 17.91 | 23.54 | 22.87 | 24.49 | 26.05 | 23.89 | 23.76 | 26.82 | 22.64 | 22.47 | 18.32 | 20.58 | 20.32 | 25.74 | 27.53 | 28.90 | 31.05 | 34.65 | — | — | — | |||||||
| Comcast Corp. | 5.36 | 7.89 | 7.86 | 11.39 | 9.88 | 9.64 | 12.01 | 10.40 | 28.75 | 29.69 | 31.38 | 25.58 | 12.39 | 13.00 | 16.01 | 16.37 | 21.39 | 22.12 | 22.37 | — | — | — | |||||||
| Netflix Inc. | 50.14 | 44.68 | 47.72 | 41.97 | 38.31 | 37.14 | 45.65 | 38.78 | 44.61 | 34.72 | 36.17 | 23.66 | 19.54 | 19.36 | 33.56 | 57.28 | 51.57 | 60.01 | 86.39 | — | — | — | |||||||
| Walt Disney Co. | 20.60 | 35.59 | 39.74 | 32.64 | 113.35 | 60.90 | 73.44 | 71.09 | 44.85 | 61.51 | 54.90 | 65.23 | 72.29 | 86.97 | 137.89 | 289.34 | — | — | — | — | 33.92 | 25.19 | |||||||
Based on: 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), 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 Q2 2025 Calculation
EPS
= (Net incomeQ2 2025
+ Net incomeQ1 2025
+ Net incomeQ4 2024
+ Net incomeQ3 2024)
÷ No. shares of common stock outstanding
= (18,337,000,000 + 16,644,000,000 + 20,838,000,000 + 15,688,000,000)
÷ 2,512,141,475 = 28.46
3 Closing price as at the filing date of Meta Platforms Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= 773.44 ÷ 28.46 = 27.17
5 Click competitor name to see calculations.
- Share Price Trends
- The share price experienced an initial increase from $204.71 in March 2020 to a peak of $358.32 in June 2021. Subsequently, it dropped notably to $97.94 by September 2022. After this trough, the share price showed a strong recovery and upward trend, reaching $773.44 by June 2025. The fluctuations indicate periods of volatility with a general long-term upward momentum by the end of the observed period.
- Earnings per Share (EPS) Trends
- EPS data is unavailable before March 2021. From March 2021 onwards, the EPS showed a rising pattern starting at 10.24 US$, increasing steadily to 14.49 US$ by December 2021. There was a decline between December 2021 and March 2023, bottoming at 8.37 US$. Following this, EPS increased consistently through to June 2025, reaching 28.46 US$. This suggests improving profitability after a temporary decline phase.
- Price-to-Earnings (P/E) Ratio Trends
- P/E ratio values were first available at 25.89 in March 2021, increasing to 27.69 in June and 25.93 in September 2021, then dropping to a low of 9.01 in December 2022. After this, the P/E ratio rose sharply to 35.58 in September 2023 before fluctuating between approximately 21.59 and 30.97 for the remaining quarters through June 2025. These variations reflect changes in market valuation relative to earnings, highlighting phases of both investor optimism and valuation reassessment.
- Summary of Patterns and Insights
- Overall, the data demonstrates a company experiencing significant share price volatility paired with evolving profitability metrics. The share price dip in late 2022 corresponds to a low P/E ratio and declining EPS, indicating challenging performance or market sentiment. The subsequent recovery in both share price and EPS, along with P/E ratio adjustments, suggests renewed investor confidence and improving financial results. The periods of rising P/E despite growing EPS imply times of heightened investor optimism and premium valuation. The company’s increasing EPS by June 2025 signals strengthened earnings power, while the fluctuating P/E indicates ongoing market reassessment of growth and risk prospects.
Price to Operating Profit (P/OP)
Meta Platforms Inc., historical P/OP calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 2,512,141,475 | 2,514,327,249 | 2,533,659,265 | 2,524,488,533 | 2,529,816,753 | 2,536,534,191 | 2,549,405,106 | 2,569,862,732 | 2,573,161,373 | 2,562,732,034 | 2,592,639,548 | 2,651,548,674 | 2,687,548,472 | 2,706,323,387 | 2,721,941,960 | 2,781,759,516 | 2,819,444,501 | 2,835,464,834 | 2,847,669,951 | 2,848,292,671 | 2,848,815,818 | 2,849,103,300 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Income from operations (in millions) | 20,441) | 17,555) | 23,365) | 17,350) | 14,847) | 13,818) | 16,384) | 13,748) | 9,392) | 7,227) | 6,398) | 5,664) | 8,358) | 8,524) | 12,585) | 10,423) | 12,367) | 11,378) | 12,775) | 8,040) | 5,963) | 5,893) | |||||||
| Operating profit per share2 | 31.33 | 29.08 | 27.38 | 24.72 | 23.24 | 21.03 | 18.34 | 14.31 | 11.15 | 10.79 | 11.16 | 13.25 | 14.84 | 16.22 | 17.18 | 16.88 | 15.80 | 13.46 | 11.47 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 773.44 | 572.21 | 687.00 | 567.58 | 497.74 | 441.38 | 474.99 | 288.35 | 311.71 | 238.56 | 188.77 | 97.94 | 160.72 | 205.73 | 237.76 | 315.81 | 358.32 | 329.51 | 265.00 | 263.11 | 253.67 | 204.71 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/OP ratio4 | 24.69 | 19.68 | 25.09 | 22.96 | 21.42 | 20.99 | 25.90 | 20.16 | 27.97 | 22.11 | 16.91 | 7.39 | 10.83 | 12.68 | 13.84 | 18.71 | 22.67 | 24.49 | 23.10 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Alphabet Inc. | 19.25 | 16.92 | 20.97 | 20.51 | 21.92 | 23.24 | 20.92 | 20.13 | 21.93 | 18.38 | 18.01 | 15.62 | 17.97 | 18.39 | 24.86 | 26.82 | 29.02 | 32.10 | 33.85 | — | — | — | |||||||
| Comcast Corp. | 5.45 | 5.35 | 5.46 | 7.33 | 6.37 | 6.33 | 7.93 | 6.75 | 12.94 | 11.89 | 12.00 | 9.64 | 7.83 | 8.75 | 10.89 | 11.91 | 14.39 | 14.66 | 13.47 | — | — | — | |||||||
| Netflix Inc. | 41.76 | 37.21 | 39.91 | 33.87 | 31.43 | 30.36 | 35.50 | 29.21 | 33.68 | 27.12 | 28.85 | 20.88 | 16.77 | 15.62 | 27.71 | 44.39 | 37.28 | 40.38 | 52.02 | — | — | — | |||||||
| Walt Disney Co. | 15.44 | 21.45 | 23.75 | 19.06 | 39.89 | 29.75 | 33.90 | 34.95 | 26.48 | 32.61 | 26.43 | 31.54 | 35.31 | 53.03 | 91.54 | 197.21 | — | — | — | 242.78 | 21.67 | 26.30 | |||||||
Based on: 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), 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 Q2 2025 Calculation
Operating profit per share
= (Income from operationsQ2 2025
+ Income from operationsQ1 2025
+ Income from operationsQ4 2024
+ Income from operationsQ3 2024)
÷ No. shares of common stock outstanding
= (20,441,000,000 + 17,555,000,000 + 23,365,000,000 + 17,350,000,000)
÷ 2,512,141,475 = 31.33
3 Closing price as at the filing date of Meta Platforms Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 773.44 ÷ 31.33 = 24.69
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited an overall fluctuating trend with several notable peaks and troughs over the analyzed quarters. Initially, from March 2020 to December 2021, the share price rose from approximately $204.71 to a peak of $358.32 in June 2021 before declining to $237.76 by December 2021. The following year saw a significant decline, reaching a low point of about $97.94 in September 2022. However, from late 2022 through 2024, there was a strong recovery and substantial growth, culminating in a peak of $773.44 in June 2025. This indicates increased investor confidence or company performance expectations towards the end of the period.
- Operating Profit Per Share (OPPS) Patterns
- Operating profit per share showed a consistent upward trajectory after data became available from December 2020. Starting at $11.47, it rose steadily to $31.33 by June 2025. This reflects continuous improvement in operational profitability and potentially enhanced efficiency or higher revenue generation over time. Although minor quarterly variances occurred, the long-term trend was positive and sustained.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio demonstrated significant volatility throughout the reported quarters. Initially, it decreased sharply from 23.1 in March 2021 to a low of approximately 7.39 in December 2022, indicating the share price was relatively low compared to operating profit per share, suggesting undervaluation or improved earnings. Subsequently, the ratio increased again to values around 27.97 by September 2023, indicating that share prices outpaced operating profit growth. Towards the end, ratios fluctuated around the low twenties, suggesting moderate valuation relative to operating profits. This oscillation may reflect changes in market sentiment, expectations, or other external factors influencing the stock price in relation to earnings.
- Overall Insights
- The financial data indicates a company experiencing solid growth in operating profitability per share, which is a positive indicator of underlying business performance. However, the share price movements and resulting changes in the P/OP ratio suggest market sentiment and valuation multiples have been highly dynamic, possibly influenced by external market conditions or company-specific news. The sharp recovery and strong share price gains in the later period highlight renewed investor optimism, while the earlier volatility points to periods of uncertainty. Evaluating these metrics together provides a comprehensive picture of improving financial performance accompanied by fluctuating market valuations.
Price to Sales (P/S)
Meta Platforms Inc., historical P/S calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 2,512,141,475 | 2,514,327,249 | 2,533,659,265 | 2,524,488,533 | 2,529,816,753 | 2,536,534,191 | 2,549,405,106 | 2,569,862,732 | 2,573,161,373 | 2,562,732,034 | 2,592,639,548 | 2,651,548,674 | 2,687,548,472 | 2,706,323,387 | 2,721,941,960 | 2,781,759,516 | 2,819,444,501 | 2,835,464,834 | 2,847,669,951 | 2,848,292,671 | 2,848,815,818 | 2,849,103,300 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Revenue (in millions) | 47,516) | 42,314) | 48,386) | 40,589) | 39,071) | 36,455) | 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) | |||||||
| Sales per share2 | 71.18 | 67.76 | 64.93 | 61.88 | 59.21 | 56.26 | 52.92 | 49.40 | 46.84 | 45.79 | 44.98 | 44.55 | 44.43 | 44.22 | 43.33 | 40.38 | 37.17 | 33.29 | 30.19 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 773.44 | 572.21 | 687.00 | 567.58 | 497.74 | 441.38 | 474.99 | 288.35 | 311.71 | 238.56 | 188.77 | 97.94 | 160.72 | 205.73 | 237.76 | 315.81 | 358.32 | 329.51 | 265.00 | 263.11 | 253.67 | 204.71 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/S ratio4 | 10.87 | 8.45 | 10.58 | 9.17 | 8.41 | 7.84 | 8.98 | 5.84 | 6.65 | 5.21 | 4.20 | 2.20 | 3.62 | 4.65 | 5.49 | 7.82 | 9.64 | 9.90 | 8.78 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Alphabet Inc. | 6.29 | 5.53 | 6.73 | 6.34 | 6.54 | 6.75 | 5.74 | 5.34 | 5.65 | 4.66 | 4.76 | 4.35 | 5.33 | 5.60 | 7.60 | 8.13 | 8.26 | 8.11 | 7.65 | — | — | — | |||||||
| Comcast Corp. | 0.99 | 1.00 | 1.03 | 1.36 | 1.23 | 1.22 | 1.52 | 1.30 | 1.55 | 1.40 | 1.39 | 1.14 | 1.43 | 1.55 | 1.95 | 2.08 | 2.45 | 2.49 | 2.28 | — | — | — | |||||||
| Netflix Inc. | 12.32 | 10.31 | 10.66 | 8.69 | 7.49 | 6.84 | 7.32 | 5.36 | 5.90 | 4.57 | 5.14 | 3.79 | 3.21 | 3.19 | 5.78 | 10.10 | 8.21 | 8.55 | 9.54 | — | — | — | |||||||
| Walt Disney Co. | 1.95 | 2.16 | 2.16 | 1.73 | 2.15 | 2.04 | 1.94 | 1.82 | 2.12 | 2.42 | 2.09 | 2.53 | 2.50 | 3.67 | 4.08 | 5.12 | 5.55 | 5.70 | 4.13 | 3.04 | 2.33 | 3.48 | |||||||
Based on: 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), 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 Q2 2025 Calculation
Sales per share
= (RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024)
÷ No. shares of common stock outstanding
= (47,516,000,000 + 42,314,000,000 + 48,386,000,000 + 40,589,000,000)
÷ 2,512,141,475 = 71.18
3 Closing price as at the filing date of Meta Platforms Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 773.44 ÷ 71.18 = 10.87
5 Click competitor name to see calculations.
The analysis of the financial data reveals notable trends and fluctuations over the examined periods across key financial metrics, specifically share price, sales per share, and price-to-sales (P/S) ratio.
- Share Price
- The share price demonstrated considerable volatility throughout the periods. Initially, from March 2020 through December 2021, the price exhibited growth reaching a peak around June 2021 at $358.32 before experiencing a significant decline by December 2021, falling to $237.76. A further decrease continued into late 2022, bottoming out near $97.94 in September 2022. However, from late 2022 onwards, the share price showed robust recovery and an upward trajectory, climbing steadily to reach an all-time high of $773.44 by June 2025.
- Sales Per Share
- Sales per share began to be reported starting from March 2021, showing a consistent upward trend throughout all subsequent periods. This metric increased steadily from $30.19 in March 2021 to $71.18 by June 2025. The data indicates sustained growth in sales revenue on a per-share basis, reflecting positive operational performance or increased sales volume over time.
- Price-to-Sales (P/S) Ratio
- The P/S ratio displayed significant fluctuations, initially rising from 8.78 in March 2021 to 9.9 in June 2021, followed by a notable decrease to a low of 2.2 by December 2022. Post-December 2022, the P/S ratio recovered, climbing again to 10.87 by June 2025. This pattern suggests periods where the market valuation either outpaced or lagged behind the growth in sales per share. The decline in P/S during 2022 aligns with the drop in share price amidst steadily growing sales per share, indicating potential market undervaluation at that time. The subsequent increase in the P/S ratio corresponds with the surging share price, possibly reflecting elevated investor optimism or higher valuation multiples being applied.
In summary, the data illustrates a company with steadily growing sales per share amid volatile share price movements. The share price’s substantial decline in 2022 followed by a strong recovery to new highs by 2025 highlights both market uncertainty during the intermediate periods and renewed investor confidence thereafter. The P/S ratio’s variation underscores shifting market sentiment relative to the firm’s sales performance, pointing to phases of undervaluation and overvaluation through the timeline.
Price to Book Value (P/BV)
Meta Platforms Inc., historical P/BV calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 2,512,141,475 | 2,514,327,249 | 2,533,659,265 | 2,524,488,533 | 2,529,816,753 | 2,536,534,191 | 2,549,405,106 | 2,569,862,732 | 2,573,161,373 | 2,562,732,034 | 2,592,639,548 | 2,651,548,674 | 2,687,548,472 | 2,706,323,387 | 2,721,941,960 | 2,781,759,516 | 2,819,444,501 | 2,835,464,834 | 2,847,669,951 | 2,848,292,671 | 2,848,815,818 | 2,849,103,300 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Stockholders’ equity (in millions) | 195,070) | 185,029) | 182,637) | 164,529) | 156,763) | 149,529) | 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) | |||||||
| Book value per share (BVPS)2 | 77.65 | 73.59 | 72.08 | 65.17 | 61.97 | 58.95 | 60.08 | 55.60 | 52.09 | 48.70 | 48.49 | 46.80 | 46.80 | 45.53 | 45.88 | 47.94 | 49.03 | 47.14 | 45.05 | 41.33 | 38.77 | 36.96 | |||||||
| Share price1, 3 | 773.44 | 572.21 | 687.00 | 567.58 | 497.74 | 441.38 | 474.99 | 288.35 | 311.71 | 238.56 | 188.77 | 97.94 | 160.72 | 205.73 | 237.76 | 315.81 | 358.32 | 329.51 | 265.00 | 263.11 | 253.67 | 204.71 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/BV ratio4 | 9.96 | 7.78 | 9.53 | 8.71 | 8.03 | 7.49 | 7.91 | 5.19 | 5.98 | 4.90 | 3.89 | 2.09 | 3.43 | 4.52 | 5.18 | 6.59 | 7.31 | 6.99 | 5.88 | 6.37 | 6.54 | 5.54 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Alphabet Inc. | 6.44 | 5.76 | 7.25 | 6.86 | 7.14 | 7.33 | 6.22 | 5.80 | 6.12 | 5.08 | 5.26 | 4.84 | 5.80 | 5.96 | 7.78 | 7.95 | 7.66 | 6.93 | 6.27 | 5.15 | 4.87 | 4.50 | |||||||
| Comcast Corp. | 1.27 | 1.43 | 1.49 | 1.95 | 1.79 | 1.80 | 2.24 | 1.91 | 2.22 | 2.04 | 2.08 | 1.72 | 1.90 | 1.97 | 2.36 | 2.48 | 2.81 | 2.80 | 2.61 | 2.29 | 2.39 | 2.11 | |||||||
| Netflix Inc. | 20.59 | 17.24 | 16.80 | 14.37 | 12.29 | 11.19 | 11.99 | 7.94 | 8.30 | 6.68 | 7.82 | 5.81 | 5.22 | 5.53 | 10.83 | 18.89 | 16.34 | 17.51 | 21.56 | 20.75 | 23.74 | 22.69 | |||||||
| Walt Disney Co. | 1.76 | 1.96 | 1.96 | 1.55 | 1.94 | 1.81 | 1.74 | 1.64 | 1.89 | 2.12 | 1.82 | 2.22 | 2.11 | 2.98 | 3.11 | 3.76 | 3.79 | 4.12 | 3.23 | 2.47 | 2.02 | 2.91 | |||||||
Based on: 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), 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 Q2 2025 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 195,070,000,000 ÷ 2,512,141,475 = 77.65
3 Closing price as at the filing date of Meta Platforms Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 773.44 ÷ 77.65 = 9.96
5 Click competitor name to see calculations.
- Share Price Trends
- The share price demonstrates significant volatility and an overall upward trajectory over the analyzed periods. Initially, the price increased steadily from $204.71 in March 2020 to a peak near $358.32 in June 2021. Subsequent quarters saw a sharp decline, reaching a low point at $97.94 in September 2022. This was followed by a recovery phase with notable growth, peaking at $474.99 in December 2023, continuing upward to $773.44 by June 2025. This pattern reflects periods of market optimism interrupted by drawdowns, but a strong recovery and growth trend in recent quarters.
- Book Value Per Share (BVPS) Trends
- Book value per share consistently increased throughout the timeframe, reflecting steady growth in the company’s net asset value per share. Starting at $36.96 in March 2020, BVPS rose gradually to $49.03 by June 2021, remaining relatively stable around the mid-40s until late 2022. A continued upward trend resumed thereafter, with BVPS reaching $77.65 by June 2025. This steady increase indicates ongoing retention of earnings and asset growth, supporting the company’s underlying financial strength.
- Price-to-Book Value (P/BV) Ratio Patterns
- The P/BV ratio exhibits notable fluctuation, largely driven by the changes in share price relative to book value. Early in the period, the ratio increased from 5.54 in March 2020 to a peak of 7.31 in June 2021, suggesting growing market optimism relative to the company’s net assets. Following this peak, the ratio declined sharply to 2.09 by September 2022, corresponding with the share price trough. Afterwards, the ratio rebounded strongly, reaching 9.96 by June 2025, implying that the market increasingly values the company beyond its book value. The elevated P/BV ratios in the most recent periods may suggest high investor confidence or expectations of significant future growth.
- Overall Analysis
- The data reflects an underlying operational strength as shown by the consistent rise in BVPS, while the share price and P/BV ratio indicate market sentiment fluctuations around this firm value. Periods of sharp share price decreases appear temporary and were followed by robust recoveries, highlighting resilient market confidence. The rising P/BV ratio toward the end of the period signals increasing market valuation multiples, which could reflect heightened growth expectations or shifts in investor perception. Continuous growth in BVPS provides a solid foundation, but the high P/BV ratios warrant consideration of valuation risks amid market optimism.