Since its 2012 IPO, Meta Platforms has delivered a total return of approximately 1,550%, powered by an 852% increase in revenue and a 959% jump in adjusted net income over the past decade. Despite this performance, Meta remains the only member of the Magnificent Seven that has never split its shares. With the current share price trading above $600 and peers having recently executed splits, investors and analysts view Meta as the most prominent stock-split candidate of 2026. Historical data compiled by Bank of America shows that companies announcing splits outperform the S&P 500 by a factor of more than two in the following year, returning on average 25% versus 12%, suggesting a split could unlock further upside.

In the third quarter, Meta generated $51.2 billion in revenue, up 26% year-over-year, while adjusted earnings per share rose 20% to $7.25. These results were driven by growth in its core advertising business—Meta is now the world’s second-largest digital advertiser—and by AI-driven improvements in content relevance and engagement. User time spent on Facebook rose by 5%, and on Threads by 10%, in the quarter, helping to lift average price per ad by 10%. Global digital ad spending is forecast to exceed $1 trillion in 2026, and social media is expected to grow by 16%, underpinning Meta’s future revenue trajectory.

Meta trades at less than 28 times forward earnings, below the average multiple of 31 for the S&P 500 and ranking as the most attractively valued among its Magnificent Seven peers. The company’s balance sheet remains strong, with gross margins near 82% and more than $44 billion in cash and marketable securities. Key growth catalysts include expanding global ad budgets, continued AI innovation through its Llama language models, and the rollout of new immersive AI features across its social platforms. Analysts’ consensus forecasts point to double-digit total returns over the next 12 months, driven by improving ad monetization and the potential boost from a forthcoming stock split.