META
Meta
Miss
Last quarter EPS $6.18 vs $7.17 consensus -13.8%
Ads beat. Earnings missed. Cash flow nearly vanished into the AI build.
Q2 2026 · filed Jul 30, 2026
$616.77
+6.09 (+1.0%)
Meta’s apps took in $60.8 billion, up 28% and a hair above estimates. Earnings per share of $6.18 missed ~$7.14. Capital spending hit $31.1 billion. Free cash flow collapsed 91% to $784 million. The ads engine is fine; the bill for AI infrastructure is the plot.
Ticker Snapshot
Market cap
$1.57T
Shares × last price
EPS (TTM)
$26.54
Trailing twelve months
EBITDA
$30.34B
Average of last 4 Quarters.
Trailing P/E
23.2
Price / TTM EPS
Forward P/E
17.9
Price / next-year EPS
Price / book
6.02×
Price vs net assets on the books
Price / sales
6.88×
Market cap vs last 12 months of sales
Price / cash flow
12.1×
Market cap vs operating cash flow
EV / revenue
6.98×
Enterprise value vs sales — includes debt
Div. yield
0.34%
Annual dividend / price
52-week
$520.26 – $790.80
Range over the last year
From the latest filing
Last 4 quarters ended Jun 30, 2026. Same period on every tile. Arrows vs last quarter and as of last year.
Godel Terminal 30% OffAdGodel Terminal 30% OffAdGodel Terminal 30% OffAdGodel Terminal 30% OffAdGodel Terminal 30% OffAdGodel Terminal 30% OffAdGodel Terminal 30% OffAdGodel Terminal 30% OffHow sales became profit
Average of Last 4 Quarters · Jul 1, 2025 through Jun 30, 2026
What they sold
$57.06B
Revenue. What customers paid.
Cost to make it
−$10.41B
Cost of goods. What it took to produce.
Profit on the books
$17.02B
GAAP net income. Not cash — that's free cash flow.
Profit margin
29.8%
How much of sales became book profit.
Per $100 of sales
Same story, scaled to a hundred-dollar bill so the mix is obvious.
Sales
$100
Average of last 4 Quarters.
Cost to make it
$18
Average of last 4 Quarters.
On the books
$30
Average of last 4 Quarters.
Where the money came from
Segments tagged in the filing — the parts inside the total.
Family of Apps ads
$59.36B+27%
Impressions +14%, price per ad +12%.
Reality Labs
$1.44B0%
Still a rounding error next to ads — and a cost center.
Brief me
A short teacher-voice walkthrough of the filing. On tap, not on load. Never a buy or sell.
Godel Terminal 30% OffAdGodel Terminal 30% OffAdGodel Terminal 30% OffAdGodel Terminal 30% OffAdGodel Terminal 30% OffAdGodel Terminal 30% OffAdGodel Terminal 30% OffAdGodel Terminal 30% OffFilings map
The source documents on EDGAR. Opens in a new tab.
- 4Insider tradesOfficers and directors report buys and sells within two business days. Filed 2026-08-20.
- 10-QQuarterly reportThe numbered financials, MD&A, and risk-factor updates. Filed 2026-07-30.
- 8-KCurrent report (earnings 8-K)The exhibit filed the night of the print — Item 2.02 when it is earnings. Filed 2026-07-29.
- 10-KAnnual reportFull-year audited statements and the business description. Filed 2026-01-29.