Apple vs Meta Platforms
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The short version
- Apple is the larger business, with $416.2B of revenue in fiscal 2025 against $201.0B for Meta Platforms, about 2.1 times as much.
- Meta Platforms grew revenue faster (22.2%, against 6.4%).
- Meta Platforms kept more of each dollar of sales as operating profit (41.4% operating margin, against 32.0%).
- Apple turned more of its sales into free cash flow (23.7% FCF margin, against 22.9%).
- Apple earned a higher return on the capital invested in it (102.9%, against 35.5%).
- Investors pay more for each dollar of Apple’s earnings: a P/E of 39.9x against 21.9x for Meta Platforms.
| Latest fiscal year | AAPL · FY25 | META · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.12T | $1.65T |
| Revenue | $416.2B | $201.0B |
| Free cash flow | $98.8B | $46.1B |
| Net income | $112.0B | $60.5B |
| Growth | ||
| Revenue growth | 6.4% | 22.2% |
| 5-year growth | 8.7% | 18.5% |
| Share count change | −2.6% | −1.5% |
| Profitability | ||
| Gross margin | 46.9% | 82.0% |
| Operating margin | 32.0% | 41.4% |
| Net margin | 26.9% | 30.1% |
| FCF margin | 23.7% | 22.9% |
| Return on capital | 102.9% | 35.5% |
| Return on equity | 171.4% | 30.2% |
| Balance sheet | ||
| Net debt | $45.2B | −$21.7B |
| Net debt / EBITDA | 0.3x | −0.2x |
| Dividends and buybacks | $106.1B | $31.6B |
| Valuation & quality | ||
| P/E | 39.9x | 21.9x |
| Piotroski F-score | 8 | 6 |
Revenue
FY16
AAPL $215.6B
META $27.6B
FY17
AAPL $229.2B
META $40.7B
FY18
AAPL $265.6B
META $55.8B
FY19
AAPL $260.2B
META $70.7B
FY20
AAPL $274.5B
META $86.0B
FY21
AAPL $365.8B
META $117.9B
FY22
AAPL $394.3B
META $116.6B
FY23
AAPL $383.3B
META $134.9B
FY24
AAPL $391.0B
META $164.5B
FY25
AAPL $416.2B
META $201.0B
AAPL
META
Operating margin
FY16
AAPL 27.8%
META 45.0%
FY17
AAPL 26.8%
META 49.7%
FY18
AAPL 26.7%
META 44.6%
FY19
AAPL 24.6%
META 33.9%
FY20
AAPL 24.2%
META 38.0%
FY21
AAPL 29.8%
META 39.7%
FY22
AAPL 30.3%
META 24.8%
FY23
AAPL 29.8%
META 34.7%
FY24
AAPL 31.5%
META 42.2%
FY25
AAPL 32.0%
META 41.4%
AAPL
META
Free cash flow
FY16
AAPL $53.5B
META $11.6B
FY17
AAPL $51.8B
META $17.5B
FY18
AAPL $64.1B
META $15.4B
FY19
AAPL $58.9B
META $21.2B
FY20
AAPL $73.4B
META $23.6B
FY21
AAPL $93.0B
META $39.0B
FY22
AAPL $111.4B
META $19.3B
FY23
AAPL $99.6B
META $44.1B
FY24
AAPL $108.8B
META $54.1B
FY25
AAPL $98.8B
META $46.1B
AAPL
META
Return on capital
FY16
AAPL 25.0%
META —
FY17
AAPL 21.8%
META —
FY18
AAPL 30.1%
META —
FY19
AAPL 42.4%
META —
FY20
AAPL 61.2%
META —
FY21
AAPL 88.5%
META —
FY22
AAPL 80.3%
META 26.9%
FY23
AAPL 82.6%
META 38.1%
FY24
AAPL 88.2%
META 50.8%
FY25
AAPL 102.9%
META 35.5%
AAPL
META
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.