Meta (META): Return On Invested Capital

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META 474.36 -5.56 -1.16% is a good starting point for showing an ROIC calculated for an actual company because it’s so simple.   Below are the numbers I got for 2021 and 2022:

Year20202021
ROIC48.858.1
ROIC w/out Goodwill67.876.1

Below I have embedded the excel workbook I used to calculate these numbers. Note there are 3 tabs – the first is ROIC Calculation which shows how I got to the numerator and denominator (using both operating and financing approaches for the latter) to get to the ROIC result and then two other tabs for the underlying income statement and balance sheet data. By tapping on the two small stacked windows in the bottom right of the mini excel screen below you can expand the excel workbook so that you can see it in its entirety like you are in the excel app – this makes viewing and understanding this much easier.

Quick Thoughts On Meta’s ROIC

Here are some basic observations, which are the kinds of things you should be thinking about when running through ROIC for a stock:

Please email me with questions/comments/errors related to this post!