Is The Business Growing?

Yes. Meta's 10 to 5-year CAGRs show an increased growth rate, and besides 2019 and 2022 their revenue and net income have both increased annually by over 15%. What happened in 2019 and 2022? The Cambridge Analytica data scandal ($5B FTC fine, $100M SEC fine, $725M settlement), the emergence of TikTok (competition for advertisers), and Apple's App Tracking Transparency (ATT) upgrade (Meta estimated a $10B hit to revenue).

Here are the numbers: (10-year CAGR / 5-year CAGR / 2024 annual growth)

• Revenue: 29.4% / 18.4% / 21.9%

• Net Income: 25.8% / 27.5% / 59.5%

• Equity: 17.6% / 12.6% / 19.2%

• FCF: 25.7% / 20.6% / 23.3%