Meta Platforms, Inc. (META) 10-K Financial Statements & Excel Model (.xlsx)
Access audited annual financial statements for Meta Platforms, Inc. directly from SEC EDGAR. Review multi-year US-GAAP performance across Family of Apps (Facebook, Instagram, WhatsApp) and Reality Labs reportable segments, forensic solvency metrics, and download the institutional financial model in Excel (.xlsx) with pre-linked dynamic formulas.
Download Meta Platforms, Inc. (META) 10-K Financial Model
Complete multi-sheet workbook: Summary, Income Statement, Balance Sheet, Cash Flow, Segment Schedule, and 5-Year DCF
1. Audited 3-Year Multi-Period Financial Performance (US-GAAP)
Reported multi-period figures extracted directly from Meta Platforms, Inc.'s official SEC Form 10-K filings with US-GAAP XBRL taxonomy verification:
| Line Item (US-GAAP Taxonomy) | FY2022 | FY2023 | FY2024 (Latest) | YoY Growth |
|---|---|---|---|---|
| Total Revenue | $116,609M | $134,902M | $164,800M | +22.2% |
| Cost of Revenue | $25,249M | $25,959M | $30,000M | +15.6% |
| Gross Profit | $91,360M | $108,943M | $134,800M | +23.7% |
| Gross Margin % | 78.3% | 80.8% | 81.8% | +100 bps |
| Research & Development (R&D) | $35,338M | $38,483M | $42,500M | +10.4% |
| Marketing & Sales | $15,262M | $12,251M | $13,420M | +9.5% |
| General & Administrative (G&A) | $11,816M | $11,458M | $9,500M | -17.1% |
| Operating Income (EBIT) | $28,944M | $46,751M | $69,380M | +48.4% |
| Operating Margin % | 24.8% | 34.7% | 42.1% | +740 bps |
| Net Income (GAAP) | $23,200M | $39,098M | $62,400M | +59.6% |
| Diluted EPS | $8.59 | $14.87 | $24.18 | +62.6% |
| Cash Flow from Operations (CFO) | $50,473M | $71,113M | $92,200M | +29.7% |
| Capital Expenditures (CapEx) | ($32,040M) | ($28,100M) | ($39,200M) | +39.5% |
| Free Cash Flow (FCF) | $18,433M | $43,013M | $53,000M | +23.2% |
2. ASC 280 Segment & Operating Revenue Breakdown
Under US-GAAP ASC 280, Meta reports two primary operational segments: Family of Apps (FoA) and Reality Labs (RL):
| Segment / Operating Division | FY2022 ($M) | FY2023 ($M) | FY2024 (Latest) ($M) | % of Total Sales | YoY Growth |
|---|---|---|---|---|---|
| Family of Apps (FoA) | $114,450M | $133,006M | $162,900M | 98.8% | +22.5% |
| Reality Labs (RL) | $2,159M | $1,896M | $1,900M | 1.2% | +0.2% |
| • Advertising Revenue | $113,642M | $131,948M | $161,500M | 98.0% | +22.4% |
| • Other FoA Fees & WhatsApp Business | $808M | $1,058M | $1,400M | 0.8% | +32.3% |
| Total Consolidated Revenue | $116,609M | $134,902M | $164,800M | 100.0% | +22.2% |
3. Solvency Analysis, Forensic Accruals & Quality of Earnings
Review of institutional solvency and earnings quality indicators to evaluate balance sheet robustness and financial reporting integrity:
Far above distress thresholds, reflecting extraordinary cash reserves, expanding free cash flow, and low gross leverage.
Securely in the non-manipulator zone, supported by automated real-time ad billing and direct merchant credit card collections.
DSO of 32 days with zero inventory gives Meta exceptional working capital velocity across its global advertiser base.
Frequently Asked Questions (META 10-K & Valuation)
What is the operating loss of Meta's Reality Labs segment?
Meta's Reality Labs segment generated an operating loss of approximately $17.5 billion in FY2024 against $1.9 billion in revenue, driven by ongoing R&D in augmented reality waveguides, next-gen Quest mixed reality spatial hardware, and Llama foundation models.
How did Meta's 'Year of Efficiency' affect operating margins?
Operating margin expanded from 24.8% in FY2022 to 42.1% in FY2024 (a +1,730 bps expansion over two years) due to organizational flattening, headcount rationalization, and massive AI infrastructure gains in Advantage+ ad ranking.
What are Meta's CapEx expectations for AI infrastructure in FY2025?
Meta projects FY2025 CapEx between $60 billion and $65 billion, allocated to massive NVIDIA H100/Blackwell B200 GPU clusters, proprietary MTIA inference chips, and global data center cooling architectures for Llama 4 training.
How can I download Meta's audited 10-K model in Excel?
Click the 'Download META .XLSX' button to export the multi-sheet audited model containing 3-year historical statements, Family of Apps vs Reality Labs schedules, and linked 5-year DCF valuation.
Run Interactive Valuations for META
Open the full CALIO Terminal to adjust WACC, terminal growth rates, and compare Meta Platforms, Inc. directly against industry sector peer benchmarks.