Meta Platforms five-year FCF DCF valuation

Sources

1. Q2 2026 revenue was $60.801B, operating cash flow was $31.862B, free cash flow was $0.784B, and capital expenditures including finance lease principal payments were $31.08B. — sec.gov
2. Meta guided Q3 2026 revenue to $61B-$64B, full-year 2026 expenses to $165B-$169B, and full-year 2026 capital expenditures including finance lease principal payments to $130B-$145B. — sec.gov
3. At June 30, 2026, cash and marketable securities were $90.260B and long-term debt was $83.664B. — sec.gov
4. Q2 2026 diluted weighted-average shares were 2.566B; Class A and Class B shares outstanding were 2.548B as of July 24, 2026. — sec.gov
5. Management attributed stronger ad pricing to demand and ad performance improvements, while higher cost of revenue and R&D reflected infrastructure and AI-related spending. — sec.gov
6. The Q2 2026 earnings call emphasized that AI investments are improving advertising performance and that Meta is investing aggressively in compute infrastructure to meet AI demand. — s21.q4cdn.com