Meta Platforms (META) Will Break Out to New All-Time Highs

The company’s financials are also impressive, as it reported a revenue of $126.96 billion and a net income of $29.73 billion for the fiscal year 2022, representing a year-over-year growth of 10.6% and 24.8%, respectively. The company also has a healthy balance sheet, with $64.08 billion in cash and equivalents and $12.54 billion in total debt as of September 30, 2023. The company’s earnings per share (EPS) for the trailing twelve months (TTM) was $11.33, giving it a price-to-earnings (PE) ratio of 32.73, which is lower than the industry average of 37.62. The company’s forward PE ratio, based on the estimated EPS for the next year, is 20.20, which is also lower than the industry average of 25.63.