S&P Global Ratings revised its outlook on Meta Platforms (META) to negative from stable after the close on October 30, while affirming its AA- rating. It forecasts free operating cash flow deficits of $22 billion in 2026, $71 billion in 2027 and $39 billion in 2028. Meta's free cash flow fell from $13.23 billion in the first quarter of 2026 to minus $1.16 billion in the third quarter, as quarterly capex reached $33.94 billion, up 80% year over year. Wall Street estimates total a $61.32 billion deficit over three years, less than half of S&P's $132 billion, with the widest gap in 2028. S&P says Meta's ability to monetize its AI investments is more limited than that of its peers; Meta disagrees and is lining up a stock sale of up to $95 billion.
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Related tickers and likely impact
META
▼ Likely negativeMeta Platforms
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.6T |
| Close on 10/30/2026 | 614.98 |
| Change that session | -1.53% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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