Revenue minus cost of goods sold. Graham's ≥40% threshold identifies businesses with durable pricing power. Note: software and financial companies naturally exceed this; retailers and manufacturers rarely reach it due to their cost structures.
Operating Margin30.9%
Profit after operating costs before interest and taxes. A consistent ≥15% operating margin signals a business with real competitive advantages. Capital-intensive industries (airlines, auto, commodities) rarely hit this threshold due to their structural cost base — compare within industry for context.
Net Income Margin26.1%
Bottom-line profit as a percentage of revenue. The ≥20% target reflects Buffett's preference for highly profitable businesses. Financial engineering (buybacks, tax optimisation) can inflate this temporarily — look for consistency across multiple years rather than a single strong result.
Financial Health
D
Years to Pay Off Debt7.1 yrs
Total Debt ÷ Net Income. Lower = stronger balance sheet. Important caveat: utilities, telecoms, REITs, and infrastructure companies carry large structural debt by design — their bond-like cash flows service it comfortably at ratios that would alarm Graham. Compare within sector.
Working Capital vs Long-Term Debt-$14.6B
Working Capital minus Long-Term Debt. Negative results are common and expected in capital-return-focused businesses like Apple, Domino's, and McDonald's — where aggressive buybacks and dividends intentionally reduce book equity. This does not indicate financial distress in high-FCF businesses.
Working Capital$69.1B
Current Assets minus Current Liabilities. Negative working capital can be a deliberate efficiency strategy in businesses that collect cash before paying suppliers (retailers, fast food franchises, subscription businesses). Assess alongside free cash flow generation for full context.
Valuation
N/A
Cash Flow
C
Free Cash Flow$1.7B
Operating cash flow minus capital expenditures. Buffett's most important metric — cash a business actually generates for its owners after maintaining and growing its asset base. Consistently positive FCF is one of the strongest indicators of a durable, well-run business regardless of accounting profits.
CapEx % of Net Income190.0%
Capital expenditure as a share of net income. Low CapEx signals a capital-light business that doesn't need heavy reinvestment to sustain earnings — Buffett's ideal. High CapEx is structurally necessary in manufacturing, airlines, telecoms, and semiconductors. For these industries, a high reading reflects the business model, not poor management.
Owner Earnings$52.3B
Net Income + Depreciation & Amortisation − Capital Expenditures. Buffett's preferred measure of a company's true annual earning power — what could theoretically be distributed to owners without impairing the business. More reliable than reported EPS because it accounts for the capital cost of maintaining the business.
Metric Explanations
What each dimension measures and where the thresholds come from.
Gross Profit Margin
Revenue minus cost of goods sold. Graham's ≥40% threshold identifies businesses with durable pricing power. Note: software and financial companies naturally exceed this; retailers and manufacturers rarely reach it due to their cost structures.
Operating Margin
Profit after operating costs before interest and taxes. A consistent ≥15% operating margin signals a business with real competitive advantages. Capital-intensive industries (airlines, auto, commodities) rarely hit this threshold due to their structural cost base — compare within industry for context.
Net Income Margin
Bottom-line profit as a percentage of revenue. The ≥20% target reflects Buffett's preference for highly profitable businesses. Financial engineering (buybacks, tax optimisation) can inflate this temporarily — look for consistency across multiple years rather than a single strong result.
Years to Pay Off Debt
Total Debt ÷ Net Income. Lower = stronger balance sheet. Important caveat: utilities, telecoms, REITs, and infrastructure companies carry large structural debt by design — their bond-like cash flows service it comfortably at ratios that would alarm Graham. Compare within sector.
Working Capital vs Long-Term Debt
Working Capital minus Long-Term Debt. Negative results are common and expected in capital-return-focused businesses like Apple, Domino's, and McDonald's — where aggressive buybacks and dividends intentionally reduce book equity. This does not indicate financial distress in high-FCF businesses.
Working Capital
Current Assets minus Current Liabilities. Negative working capital can be a deliberate efficiency strategy in businesses that collect cash before paying suppliers (retailers, fast food franchises, subscription businesses). Assess alongside free cash flow generation for full context.
Free Cash Flow
Operating cash flow minus capital expenditures. Buffett's most important metric — cash a business actually generates for its owners after maintaining and growing its asset base. Consistently positive FCF is one of the strongest indicators of a durable, well-run business regardless of accounting profits.
CapEx % of Net Income
Capital expenditure as a share of net income. Low CapEx signals a capital-light business that doesn't need heavy reinvestment to sustain earnings — Buffett's ideal. High CapEx is structurally necessary in manufacturing, airlines, telecoms, and semiconductors. For these industries, a high reading reflects the business model, not poor management.
Owner Earnings
Net Income + Depreciation & Amortisation − Capital Expenditures. Buffett's preferred measure of a company's true annual earning power — what could theoretically be distributed to owners without impairing the business. More reliable than reported EPS because it accounts for the capital cost of maintaining the business.
Market Data
Key Margins
Gross Profit81.4%
Operating Margin30.9%
Net Margin26.1%
Company Info
Showing Key Metrics
Income Highlights
Metric
Q2 2026
Q4 2025
Q4 2024
Gross Profit %
81.4%▼
81.8%•
N/A
Operating Margin %
30.9%▼
41.3%•
N/A
Net Income %
26.1%▼
38.0%•
N/A
Diluted EPS
6.18▼
8.88•
N/A
Balance Sheet Highlights
Metric
Q2 2026
Q4 2025
Q4 2024
Total Assets
$450.0B
$366.0B
N/A
Total Debt
$112.3B▲
$83.9B•
N/A
Working Capital
$69.1B▲
$66.9B•
N/A
Years to Pay Debt
7.09
3.68
N/A
Cash Flow Highlights
Metric
Q2 2026
Q4 2025
Q4 2024
Free Cash Flow
$1.7B▼
$14.8B•
N/A
Owner Earnings
$52.3B
$49.6B
N/A
CapEx % of Net Income
190.0%
93.9%
N/A
Income Statement
2026
2025
2024
Tax Effect Of Unusual Items
-15,200
-12,035
Tax Rate For Calcs
0
0
Normalized EBITDA
25,990,000
31,339,000
Total Unusual Items
-95,000
-118,000
Total Unusual Items Excluding Goodwill
-95,000
-118,000
Net Income From Continuing Operation Net Minority Interest
15,848,000
22,768,000
Reconciled Depreciation
6,356,000
5,411,000
Reconciled Cost Of Revenue
11,330,000
10,906,000
EBITDA
25,895,000
31,221,000
EBIT
19,539,000
25,810,000
Net Interest Income
76,000
169,000
Interest Expense
783,000
456,000
Interest Income
859,000
625,000
Normalized Income
15,927,800
22,873,965
Net Income From Continuing And Discontinued Operation
15,848,000
22,768,000
Total Expenses
42,026,000
35,148,000
Total Operating Income As Reported
18,775,000
24,745,000
Diluted Average Shares
2,566,000
2,565,000
Basic Average Shares
2,543,000
2,525,000
Diluted EPS
0
0
Basic EPS
0
0
Diluted NI Availto Com Stockholders
15,848,000
22,768,000
Net Income Common Stockholders
15,848,000
22,768,000
Net Income
15,848,000
22,768,000
Net Income Including Noncontrolling Interests
15,848,000
22,768,000
Net Income Continuous Operations
15,848,000
22,768,000
Tax Provision
2,908,000
2,586,000
Pretax Income
18,756,000
25,354,000
Other Income Expense
-95,000
440,000
Other Non Operating Income Expenses
558,000
93,000
Gain On Sale Of Security
-95,000
-118,000
Net Non Operating Interest Income Expense
76,000
169,000
Total Other Finance Cost
-558,000
-93,000
Interest Expense Non Operating
783,000
456,000
Interest Income Non Operating
859,000
625,000
Operating Income
18,775,000
24,745,000
Operating Expense
30,696,000
24,242,000
Research And Development
21,656,000
17,135,000
Selling General And Administration
9,040,000
7,107,000
Selling And Marketing Expense
3,431,000
3,410,000
General And Administrative Expense
5,609,000
3,697,000
Other Gand A
5,609,000
3,697,000
Gross Profit
49,471,000
48,987,000
Cost Of Revenue
11,330,000
10,906,000
Total Revenue
60,801,000
59,893,000
Operating Revenue
59,794,000
59,093,000
Balance Sheet
2026
2025
2024
Ordinary Shares Number
2,548,378
2,529,638
Share Issued
2,548,378
2,529,638
Net Debt
68,202,000
22,871,000
Total Debt
112,318,000
83,897,000
Tangible Book Value
237,815,000
189,017,000
Invested Capital
344,885,000
275,987,000
Working Capital
69,096,000
66,886,000
Net Tangible Assets
237,815,000
189,017,000
Capital Lease Obligations
28,654,000
25,153,000
Common Stock Equity
261,221,000
217,243,000
Total Capitalization
344,885,000
275,987,000
Total Equity Gross Minority Interest
261,221,000
217,243,000
Stockholders Equity
261,221,000
217,243,000
Gains Losses Not Affecting Retained Earnings
-603,000
271,000
Other Equity Adjustments
-603,000
271,000
Retained Earnings
157,843,000
121,179,000
Additional Paid In Capital
103,981,000
95,793,000
Total Liabilities Net Minority Interest
188,735,000
148,778,000
Total Non Current Liabilities Net Minority Interest
132,356,000
106,942,000
Other Non Current Liabilities
4,137,000
4,253,000
Tradeand Other Payables Non Current
18,326,000
21,005,000
Long Term Debt And Capital Lease Obligation
109,893,000
81,684,000
Long Term Capital Lease Obligation
26,229,000
22,940,000
Long Term Debt
83,664,000
58,744,000
Current Liabilities
56,379,000
41,836,000
Other Current Liabilities
10,387,000
6,074,000
Current Debt And Capital Lease Obligation
2,425,000
2,213,000
Current Capital Lease Obligation
2,425,000
2,213,000
Pensionand Other Post Retirement Benefit Plans Current
7,151,000
6,350,000
Payables And Accrued Expenses
53,954,000
22,085,000
Current Accrued Expenses
38,065,000
11,269,000
Payables
15,889,000
10,816,000
Total Tax Payable
1,922,000
3,438,000
Accounts Payable
15,889,000
8,894,000
Total Assets
449,956,000
366,021,000
Total Non Current Assets
324,481,000
257,299,000
Other Non Current Assets
21,209,000
4,745,000
Investments And Advances
30,157,000
27,524,000
Investmentin Financial Assets
30,157,000
27,524,000
Available For Sale Securities
30,157,000
27,524,000
Goodwill And Other Intangible Assets
23,406,000
28,226,000
Other Intangible Assets
3,692,000
915,000
Goodwill
23,406,000
24,534,000
Net PPE
249,709,000
196,804,000
Accumulated Depreciation
-67,148,000
-57,326,000
Gross PPE
316,857,000
254,130,000
Leases
8,464,000
8,346,000
Construction In Progress
80,345,000
50,521,000
Other Properties
163,344,000
136,008,000
Buildings And Improvements
61,037,000
55,568,000
Land And Improvements
3,667,000
3,687,000
Current Assets
125,475,000
108,722,000
Other Current Assets
13,463,000
7,361,000
Receivables
21,752,000
19,769,000
Accounts Receivable
21,752,000
19,769,000
Cash Cash Equivalents And Short Term Investments
90,260,000
81,592,000
Other Short Term Investments
74,798,000
45,719,000
Cash And Cash Equivalents
15,462,000
35,873,000
Cash Equivalents
12,133,000
31,482,000
Cash Financial
3,329,000
4,391,000
Cash Flow
2026
2025
2024
Free Cash Flow
1,746,000
14,831,000
Repurchase Of Capital Stock
0
0
Repayment Of Debt
-962,000
-754,000
Issuance Of Debt
29,906,000
0
Capital Expenditure
-30,116,000
-21,383,000
Interest Paid Supplemental Data
813,000
93,000
Income Tax Paid Supplemental Data
1,458,000
1,285,000
End Cash Position
29,271,000
39,100,000
Beginning Cash Position
31,102,000
11,941,000
Effect Of Exchange Rate Changes
-7,000
-17,000
Changes In Cash
-1,824,000
27,176,000
Financing Cash Flow
15,967,000
25,149,000
Cash Flow From Continuing Financing Activities
15,967,000
25,149,000
Net Other Financing Charges
-6,628,000
-2,665,000
Cash Dividends Paid
-1,353,000
-1,338,000
Common Stock Dividend Paid
-1,353,000
-1,338,000
Net Common Stock Issuance
0
0
Common Stock Payments
0
0
Net Issuance Payments Of Debt
23,948,000
29,152,000
Net Long Term Debt Issuance
23,948,000
29,152,000
Long Term Debt Payments
-962,000
-754,000
Long Term Debt Issuance
29,906,000
0
Investing Cash Flow
-49,653,000
-34,187,000
Cash Flow From Continuing Investing Activities
-49,653,000
-34,187,000
Net Other Investing Changes
-555,000
-405,000
Net Investment Purchase And Sale
-18,880,000
-11,537,000
Sale Of Investment
24,860,000
3,113,000
Purchase Of Investment
-43,740,000
-14,650,000
Net Business Purchase And Sale
-102,000
-862,000
Purchase Of Business
-102,000
-3,416,000
Net PPE Purchase And Sale
-30,116,000
-21,383,000
Purchase Of PPE
-30,116,000
-21,383,000
Operating Cash Flow
31,862,000
36,214,000
Cash Flow From Continuing Operating Activities
31,862,000
36,214,000
Change In Working Capital
501,000
1,664,000
Change In Other Current Liabilities
645,000
-431,000
Change In Other Current Assets
-1,453,000
-272,000
Change In Payables And Accrued Expense
6,516,000
4,583,000
Change In Accrued Expense
5,933,000
3,960,000
Change In Payable
583,000
623,000
Change In Account Payable
583,000
623,000
Change In Prepaid Assets
-806,000
259,000
Change In Receivables
-4,401,000
-2,475,000
Changes In Account Receivables
-4,401,000
-2,475,000
Other Non Cash Items
-56,000
37,000
Stock Based Compensation
7,658,000
5,890,000
Unrealized Gain Loss On Investment Securities
110,000
-590,000
Asset Impairment Charge
95,000
Deferred Tax
1,445,000
1,034,000
Deferred Income Tax
1,445,000
1,034,000
Depreciation Amortization Depletion
6,356,000
5,411,000
Depreciation And Amortization
6,356,000
5,411,000
Net Income From Continuing Operations
15,848,000
22,768,000
📊Quarterly mode — Graham Fair Value & 7 Criteria require annual data. Switch to Annual for full analysis.
Quarter vs Same Quarter Last Year
YoY strips seasonality
Revenue Growth (YoY)
Prior year: $47.5B▲ $60.8B+28.0%
Revenue growth vs same quarter last year strips seasonality. Consistent double-digit growth is a Buffett hallmark.
Gross Margin
Prior year: 82.1%▲ 81.4%-0.8pp
Buffett: consistent gross margin above 40% signals durable pricing power and competitive moat.
Operating Margin
Prior year: 39.5%▼ 30.9%-8.6pp
Graham: operating margin reflects true business economics before financing. Trend matters as much as level.
Net Margin
Prior year: 38.6%▼ 26.1%-12.5pp
Net margin can be distorted by one-time items, tax timing, or interest costs — compare to operating margin for signal quality.
Quarterly Health Checks
3 Graham/Buffett criteria that are valid and reliable on quarterly data
✅ Adequate Size
Graham required scale for resilience. Quarterly revenue × 4 gives an annualised proxy.
$60.8B/qtr (≈$243.2B ann.)
vs > $1.5B annualised revenue
✅ Financial Condition
Current assets vs current liabilities — a real-time liquidity snapshot. Valid and reliable on quarterly data.
2.23x current ratio
vs ≥ 2.0x
✅ Free Cash Flow
Buffett's most important single metric. A positive FCF quarter means the business generated real cash for owners after maintaining its asset base.
$1.7B
vs Positive
Operating Cash Flow
$31.9B
Latest quarter · Buffett's cash reality check
ROIC
3.8%
Based on latest annual operating income
Return on Invested Capital — Buffett's preferred measure for asset-light businesses. ROIC > 15% consistently signals a durable competitive advantage (moat). More meaningful than P/B for software, pharma, and consumer brand companies where most value is intangible and off-balance-sheet.
Market Cap / Net Assets
N/A
Net Assets: $261.2B
⚠️Net margin compressed 12.5pp vs same quarter last year. Common causes: one-time charges (restructuring, write-downs, legal settlements), tax rate changes, or rising interest expense. Check the income statement notes before drawing conclusions about operating health.
⚠️Revenue grew vs prior year but operating margin contracted. Possible explanations: deliberate investment in growth (hiring, marketing, R&D), input cost inflation, or pricing pressure from competition. Buffett distinguishes between spending that builds moat vs. spending that doesn't.
Peers & Industry
No auto-detected peers for this industry. You can manually compare META against any stock using the Compare tool.
"The management of a business is its most important single factor — more important than market position, patents, or financial structure."
— Benjamin Graham
No management data available.
Risk Analysis
META (META) fundamental analysis — Overall grade B based on profitability, financial health, valuation and cash flow. Graham's
Fair Value: N/A. Gross profit margin: 81.4%. Operating margin: 30.9%. Net margin: 26.1%. Analysis powered by 360investing — free fundamental stock analysis based on Benjamin Graham and Warren Buffett
principles.
Disclaimer: 360investing is provided for informational and educational purposes only and does not constitute financial, investment, legal, or tax advice. All data is sourced from public third-party providers
and may be delayed, inaccurate, or incomplete. Past performance is not indicative of future results. Analysis, scores, and valuations are algorithmic and do not represent professional investment recommendations. Always conduct your own due
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