Meta Platforms

Meta’s financial position is extremely strong. As of year-end 2024, it had about $77.8 billion in cash and marketable securities versus only $28.8 billion in long-term debt). The company also generates massive free cash flow (about $52 B in 2024, or roughly $13–$14 B per quarter recently).

In Q1 2025, cash was $70 B) while generating ~$24 B in operating cash flow and ~$10 B in free cash flow. Low net leverage and abundant liquidity give Meta a very high margin of safety. Even if ad spending slows, Meta easily covers its obligations and can ramp up investments.

The balance sheet can withstand downturns, making bankruptcy risk negligible. Meta is among the strongest large-cap tech finances, akin to having an ‘‘army of balance sheets’’ for heavy investment if needed.