Meta
Meta returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 24.99% | 26.71% | -2.1% | 29.85% | 18.29% | 17.2 pp |
| FY 2026 Q1 | Mar 31, 2026 | 30.18% | 29.79% | 5.27% | 32.93% | 20.9% | 22.4 pp |
| FY 2025 Q4 | Dec 31, 2025 | 28.74% | 29.39% | -3.64% | 30.24% | 18.83% | 20.9 pp |
| FY 2025 Q3 | Sep 30, 2025 | 31.46% | 33.43% | 4.36% | 32.64% | 20.89% | 23.7 pp |
| FY 2025 Q2 | Jun 30, 2025 | 39.49% | 34.17% | 28.78% | 40.65% | 27.24% | 31.7 pp |
| FY 2025 Q1 | Mar 31, 2025 | 40.58% | 33.15% | 40.67% | 39.83% | 26.49% | 32.8 pp |
| FY 2024 Q4 | Dec 31, 2024 | 41.19% | 31.53% | 59.89% | 37.14% | 24.66% | 33.4 pp |
| FY 2024 Q3 | Sep 30, 2024 | 39.6% | 30.53% | 97.43% | 36.13% | 23.5% | 31.8 pp |
| FY 2024 Q2 | Jun 30, 2024 | 37.72% | 30.95% | 141.07% | 35.37% | 23.54% | 29.9 pp |
| FY 2024 Q1 | Mar 31, 2024 | 34.74% | 30.15% | 186.21% | 33.36% | 22.47% | 26.9 pp |
| FY 2023 Q4 | Dec 31, 2023 | 30.75% | 26.24% | 174.44% | 28.04% | 18.83% | 23 pp |
| FY 2023 Q3 | Sep 30, 2023 | 24.36% | 21.5% | 23.53% | 22.27% | 15.05% | 16.6 pp |
| FY 2023 Q2 | Jun 30, 2023 | — | 17.69% | — | 17.36% | 11.98% | — |
| FY 2023 Q1 | Mar 31, 2023 | — | 18.3% | — | 17.29% | 12.3% | — |
| FY 2022 Q4 | Dec 31, 2022 | — | 19.07% | — | 18.52% | 13.19% | — |
| FY 2022 Q3 | Sep 30, 2022 | — | 22.81% | — | 22.4% | 16.55% | — |
| FY 2022 Q2 | Jun 30, 2022 | — | 26.3% | — | 25.48% | 19.76% | — |
| FY 2022 Q1 | Mar 31, 2022 | — | 29.87% | — | 29.07% | 22.79% | — |
| FY 2021 Q4 | Dec 31, 2021 | — | 32.33% | — | 31.1% | 24.21% | — |
| FY 2021 Q3 | Sep 30, 2021 | — | 32.8% | — | 32.1% | 25.51% | — |
| FY 2021 Q2 | Jun 30, 2021 | — | 31.37% | — | 31.33% | 25.11% | — |
| FY 2021 Q1 | Mar 31, 2021 | — | 27.84% | — | 28.24% | 22.35% | — |
| FY 2020 Q4 | Dec 31, 2020 | — | 24.88% | — | 25.42% | 19.92% | — |
| FY 2020 Q3 | Sep 30, 2020 | — | 23.42% | — | 23.87% | 18.66% | — |
| FY 2020 Q2 | Jun 30, 2020 | — | 24.01% | — | 23.61% | 18.33% | — |
| FY 2020 Q1 | Mar 31, 2020 | — | 23.84% | — | 21.85% | 16.91% | — |
| FY 2019 Q4 | Dec 31, 2019 | — | 22.99% | — | 19.96% | 16.02% | — |
| FY 2019 Q3 | Sep 30, 2019 | — | 23.17% | — | 20.67% | 16.62% | — |
| FY 2019 Q2 | Jun 30, 2019 | — | 22.72% | — | 20.3% | 16.46% | — |
| FY 2019 Q1 | Mar 31, 2019 | — | 24.84% | — | 23.83% | 19.71% | — |
| FY 2018 Q4 | Dec 31, 2018 | — | 29.12% | — | 27.9% | 24.32% | — |
| FY 2018 Q3 | Sep 30, 2018 | — | 30.05% | — | 25.73% | 22.75% | — |
| FY 2018 Q2 | Jun 30, 2018 | — | 30.47% | — | 26.14% | 23.24% | — |
| FY 2018 Q1 | Mar 31, 2018 | — | 29.84% | — | 25.53% | 22.65% | — |
| FY 2017 Q4 | Dec 31, 2017 | — | 28.29% | — | 23.84% | 21.32% | — |
| FY 2017 Q3 | Sep 30, 2017 | — | 26.21% | — | 25.4% | 22.99% | — |
| FY 2017 Q2 | Jun 30, 2017 | — | 24.83% | — | 23.25% | 21.01% | — |
| FY 2017 Q1 | Mar 31, 2017 | — | 23.69% | — | 21.48% | 19.49% | — |
| FY 2016 Q4 | Dec 31, 2016 | — | 22.68% | — | 19.7% | 17.87% | — |
| FY 2016 Q3 | Sep 30, 2016 | — | 20.51% | — | 15.66% | 14.14% | — |
| FY 2016 Q2 | Jun 30, 2016 | — | 18.32% | — | 13.35% | 12.06% | — |
| FY 2016 Q1 | Mar 31, 2016 | — | 16.13% | — | 11.02% | 9.96% | — |
| FY 2015 Q4 | Dec 31, 2015 | — | 14.44% | — | 9.14% | 8.23% | — |
| FY 2015 Q3 | Sep 30, 2015 | — | 14.19% | — | 8.97% | 8% | — |
| FY 2015 Q2 | Jun 30, 2015 | — | 15.33% | — | 9.42% | 8.44% | — |
| FY 2015 Q1 | Mar 31, 2015 | — | 16.66% | — | 10.31% | 9.21% | — |
| FY 2014 Q4 | Dec 31, 2014 | — | 17.98% | — | 11.34% | 10.12% | — |
| FY 2014 Q3 | Sep 30, 2014 | — | 27.07% | — | 16.04% | 14.12% | — |
| FY 2014 Q2 | Jun 30, 2014 | — | 25.34% | — | 15.44% | 13.05% | — |
| FY 2014 Q1 | Mar 31, 2014 | — | 21.84% | — | 13.39% | 11.25% | — |
| FY 2013 Q4 | Dec 31, 2013 | — | 18.18% | — | 10.95% | 9.09% | — |
| FY 2013 Q3 | Sep 30, 2013 | — | 15.18% | — | 7.44% | 6.72% | — |
| FY 2013 Q2 | Jun 30, 2013 | — | 12.86% | — | 4.15% | 3.63% | — |
| FY 2013 Q1 | Mar 31, 2013 | — | — | — | — | — | — |
| FY 2012 Q4 | Dec 31, 2012 | — | — | — | — | — | — |
| FY 2012 Q3 | Sep 30, 2012 | — | — | — | — | — | — |
| FY 2012 Q2 | Jun 30, 2012 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.8%, rounded from the Advertising benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · META, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.