Meta Platforms, Inc. (META)
Juste valeurFondamental
71
Prix
$725.18
Capitalisation boursière
$1.98T
Partie 1 · Ce que vaut l'entreprise
Vue d'ensemble
Meta owns Facebook, Instagram, WhatsApp and Messenger, apps used by billions of people to connect, share and message, and makes almost all of its money by selling advertising space inside them. It doesn't charge users directly; instead it uses the data generated by their activity to show ads it can target precisely, and charges advertisers for that precision. A much smaller, loss-making division, Reality Labs, builds virtual- and augmented-reality headsets and is Meta's bet on a future computing platform beyond the smartphone.
Comment l'entreprise gagne de l'argent
Meta earns revenue almost entirely from advertisers who pay per ad impression or click, with price set by an auction where advertisers bid for placement in front of the specific audiences Meta's data lets them target. Because the marginal cost of showing one more ad to an existing user is close to zero, revenue growth flows through to profit at a very high rate. Reality Labs, by contrast, sells hardware and software at a steep loss, funded by the advertising business, as an investment in becoming the next computing platform.
Chiffre d'affaires par segment
Advertising sold across Facebook, Instagram, WhatsApp and Messenger — nearly all of Meta's revenue.
Virtual- and augmented-reality hardware, software and content, sold at a large ongoing loss.
Avantage concurrentiel
Effets de réseau · LargeFacebook, Instagram and WhatsApp are valuable to any one user largely because everyone else is already there — friends, family and businesses — which makes a new social app hard to displace once a critical mass of users has settled on the incumbent. That same scale of users and data lets Meta's ad-targeting outperform smaller rivals, reinforcing why advertisers keep spending there even as new platforms like TikTok compete for attention.
Ce qui stimule la demande
CycliqueAdvertising budgets are one of the first costs companies cut when the economy slows and one of the first they restore in a recovery, so Meta's revenue tends to track the broader advertising and economic cycle more than any product-specific trend. User growth and engagement are comparatively stable; it is advertiser spending, not audience size, that swings with the cycle.
Principaux risques
- Regulation of data and advertising — The EU's Digital Markets Act, online-safety laws and similar rules elsewhere keep restricting how Meta can collect and use data for ad targeting, with potential fines and forced changes to its ad business.
- Near-total reliance on advertising — Almost all revenue comes from advertising and depends on data signals and mobile operating systems Meta does not control, such as changes Apple has made to privacy settings that limit ad targeting.
- Competition for user attention — Platforms such as TikTok compete directly for the time users spend on their phones, and losing engagement would eventually reduce the audience Meta sells to advertisers.
- Reality Labs losses — Reality Labs lost more than $16 billion in operating income in fiscal 2025 alone, and Meta expects the division to keep losing money for the foreseeable future with no guarantee the bet pays off.
Les arguments en faveur
Buyers argue that the network effect binding billions of users to Facebook, Instagram and WhatsApp is very hard for a new entrant to break, that advertising margins are extremely high once the platform is built, and that heavy AI investment is improving ad targeting and engagement faster than competitors can match.
Les arguments contre
Sellers worry that nearly all revenue depends on advertising, one of the first budgets companies cut in a downturn, that regulators in Europe and elsewhere keep restricting the data-driven targeting the ad business relies on, and that Reality Labs has lost over $16 billion in a single year with still no clear sign the bet on a new computing platform will pay off.
Written by the editors, published on 18 août 2026
Direct competitors
Who this company fights with for the same customers
Generated on 19 septembre 2026 with claude-haiku-4-5 — shared with all users
Snapchat competes with Instagram and Messenger for the daily habits of younger users and for the same performance-advertising budgets, with overlapping formats such as Stories and camera-first sharing.
Pinterest sells visual-discovery advertising to the retail, home and fashion advertisers that also buy Instagram placements, competing for the same shopping-intent audience.
Reddit competes for time spent in online communities and discussion — the ground Facebook Groups occupies — and sells the same social-feed advertising inventory to brands.
Alphabet is Meta's largest rival for digital advertising budgets and, through YouTube and YouTube Shorts, competes directly for the same user attention that Facebook, Instagram and Reels monetize.
TikTok is the short-video platform Meta itself names in its 10-K as having reduced engagement with its products, and it sells advertising to the same brands targeting the same young audiences as Instagram Reels.
X competes head-on with Meta's Threads for real-time public conversation and for the brand-advertising budgets that follow news and live events.
Bilan & Liquidités
Chiffre d'affaires
$228.25B
12 derniers mois (au 30/06/2026)
Résultat net
$68.10B
12 derniers mois (au 30/06/2026)
Flux de trésorerie libre
$46.11B
Capitaux propres totaux
$217.24B
Passif total
$148.78B
Ratio de liquidité général
2.23
Couverture des intérêts
71.48
Dette/EBITDA
1.10
Bénéfice par action
Chiffre d'affaires & Résultat net
Flux de trésorerie libre
Décomposition du résultat
État historique
Marges dans le temps
La dette dans le temps
Le poids de la dette
Grille de la croissance
Croissance — Chiffre d'affaires
Estimation de la juste valeur
Juste valeur
$700.68
Prix actuel
$725.18
Marge de sécurité
-3.5%
Fourchette de juste valeur
$483.04 - $918.32
Écart entre les méthodes de valorisation utilisées, pas un intervalle de confiance calibré statistiquement.
Méthodes d'estimation
Indicateurs de valorisation
Ratio P/E
27.32
ROE
27.8%
Ratio P/B
6.12
P/FCF
39.03
Marge brute
81.7%
ROIC
17.4%
Radar de rentabilité
Création de valeur (avantage concurrentiel)
ROIC
17.4%
WACC
10.9%
ROIC − WACC
+6.6 pp
Le ROIC dépasse le coût du capital — l'entreprise crée de la valeur pour les actionnaires.
Critères d'analyse fondamentale
Réussi (20)
- EPS shows upward trend
- EPS CAGR 34.35%
- Price CAGR 20.53%
- ROIC 17.4%
- Gross Margin 81.7%
- Debt/Equity ratio
- Operating Margin 38.1%
- Positive Free Cash Flow
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- ROE 29.7%
- Revenue Growth 5Y 18.5%
- Analyst Consensus 87% Buy
- PEG Ratio 1.51
- Earnings Quality (OCF/NI) 1.91
- Share Dilution -1.5%
- Piotroski F-Score 5/9
Échoué (7)
- P/FCF 39.03
- P/B Ratio 6.12
- CapEx intensity
- Price below Graham Number
- DCF valuation (Unknown)
- Earnings Surprise avg 0.4%
- Net Margin Trend 29.8% vs 40.0%
Indisponible (1)
- Dividend Payout NaN%
Score F de Piotroski
Signaux mixtes : certains domaines nécessitent attention
Qualité des bénéfices
Qualité élevée : bénéfices soutenus par la trésorerie
Dilution du capital
Rachat d'actions. Favorable aux actionnaires
Participations institutionnelles
Gouvernance
Équipe dirigeante
| Nom | Titre | Âge |
|---|---|---|
| Mr. Mark Elliot Zuckerberg | Founder, Chairman & CEO | 41 |
| Ms. Dina Powell McCormick | President & Vice Chairman | 51 |
| Ms. Susan J. S. Li | Chief Financial Officer | 39 |
| Mr. Javier Olivan | Chief Operating Officer | 48 |
| Mr. Andrew Bosworth | Chief Technology Officer | 43 |
| Mr. Christopher K. Cox | Chief Product Officer | 42 |
| Mr. Dana White | Independent Director | 55 |
| Mr. Aaron A. Anderson | Chief Accounting Officer | - |
| Mr. Atish Banerjea | Chief Information Officer | 59 |
| Mr. Henry T. A. Moniz | Chief Compliance Officer | 60 |
Risque d'audit
9
Risque du conseil
10
Risque de rémunération
10
Risque droits des actionnaires
10
Partie 2 · Le prix et le moment d'entrer
Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.
Documents
- Voir le document
Rapport annuel (10-K)
Un aperçu annuel de l'activité, des résultats financiers et des risques de l'entreprise.
Déposé le 2026-01-29
- Voir le document
Rapport trimestriel (10-Q)
Une mise à jour de la performance financière des trois derniers mois.
Déposé le 2026-07-30
- Voir le document
Rapport d'événement important (8-K)
Un avis concernant un événement important, comme un changement de direction ou une annonce majeure.
Déposé le 2026-07-29
via SEC EDGAR
Historique des résultats
via SEC EDGAR
Latest News
Recent headlines for META, sourced from Markets Gazette.
- 4h agoNEUTRALThe Shopping Agent Race: Meta, Google and the China Playbook
Meta's new AI consumer app, Muse, has rapidly climbed to the top of the US App Store charts, signaling a significant move into the AI-powered shopping agent space. This development positions Meta as a direct competitor to Google in this emerging market. The app's ability to search, compare, and facilitate payments for services like hotel bookings demonstrates advanced AI capabilities. While the initial success is notable, the long-term impact on Meta's revenue and market position remains to be seen, making this a key area for investors to monitor.
- 18h agoNEGATIVEPerché il titolo Meta cala mercoledì?
Meta Platforms shares experienced pressure on Wednesday, dipping nearly 2% at the session's open, despite a broader US market rally. Investors are assessing the competitive threat posed by OpenAI's new AI agent, Dots, to Meta's rapidly growing Muse platform. While Meta's stock has surged over 28% in the past month, largely on enthusiasm for Muse as a cornerstone of its consumer AI strategy, the introduction of Dots has prompted a re-evaluation of Meta's ability to maintain its early-mover advantage in the AI space. This competitive pressure is a key concern for investors.
- 22h agoPOSITIVEMeta is pitching a bold new identity — and the payoff could be big
Meta Platforms is strategically pivoting towards enterprise tools, signaling a significant diversification effort beyond its core advertising business. This move aims to unlock new revenue streams and reduce reliance on its social media platforms, Facebook and Instagram. The company's investment in this sector could lead to substantial long-term growth and improved financial resilience. Investors will be watching for early adoption metrics and the competitive landscape of the enterprise software market as key indicators of success for this ambitious strategy.
- 2d agoPOSITIVEJim Cramer indica azioni che possono correre nonostante rendimenti e petrolio più alti
Jim Cramer, host of Mad Money, identifies Meta Platforms (META) as a top stock pick amidst rising oil prices and Treasury yields. Cramer's strategy emphasizes selecting companies with strong demand, pricing power, and scale, which he believes can thrive even in a higher interest rate environment. Meta Platforms is highlighted for its ability to meet these criteria, suggesting resilience and potential for growth despite current macroeconomic headwinds. Investors may find this endorsement valuable for identifying opportunities in the current market.
- 3d agoNEGATIVEPerché le azioni di Meta sono calate del 4% oggi?
Meta Platforms Inc. (META) shares fell 4.7% to $715.62 following news that OpenAI is reportedly developing a new always-on AI assistant, potentially named 'o'. This cloud-based agent could handle long-term tasks, including email management, even after users close the ChatGPT app. OpenAI is expected to unveil this product at its DevDay 2026 keynote on September 29th. The decline comes after Meta's stock had already gained approximately 30% in September. Investors are assessing the competitive threat posed by OpenAI's new AI offering to Meta's core business and future growth prospects.
- 5d agoNEGATIVENew Mexico jury finds Facebook liable for over 43 million violations of consumer protection law—and Meta could owe over $200 billion in penalties
A New Mexico jury has found Meta Platforms Inc. liable for over 43 million violations of the state's consumer protection law. The verdict, stemming from allegations that Facebook misled the public regarding third-party app developers harvesting user data post-Cambridge Analytica, could result in penalties exceeding $200 billion. This substantial judgment introduces significant legal and financial risk for Meta, potentially impacting its profitability and investor confidence. The outcome highlights ongoing scrutiny over data privacy practices and their financial repercussions for major tech firms.
- 6d agoPOSITIVELa scommessa dei tassi più alti a lungo crea una spaccatura nel tech
Meta Platforms' AI assistant, Muse, has seen viral consumer adoption, sparking a rally in the tech sector on September 21st. This surge occurs despite the 10-year Treasury yield reaching a multi-decade high of approximately 5.2%, a level typically expected to pressure high-valuation tech stocks. The "Magnificent Seven" stocks, including Meta, have continued to climb, diverging from the bond market's pricing of higher yields. Institutional investors are increasingly viewing large tech companies as stable cash-flow havens capable of absorbing capital costs, suggesting a fundamental shift in how these tech giants are valued.
- 7d agoPOSITIVEMeta’s Best Month Since 2013 Has It on Cusp of $2 Trillion Level
Meta Platforms Inc. is experiencing its most significant stock surge since 2013, nearing the $2 trillion market capitalization milestone. This breakout performance is a strong indicator for investors, suggesting renewed confidence in the company's growth prospects and strategic direction. The rally implies that Meta's recent initiatives, potentially including advancements in AI, metaverse development, or advertising revenue streams, are resonating positively with the market. This sustained upward momentum could lead to further price appreciation and increased investor interest.
via Markets Gazette