What You Need to Know About Meta's Massive Share Repurchases

Why Meta's repurchases are so effective
$Meta Platforms(META.US)$ is repurchasing shares on the open market, so it pays market price just like you or me. But Meta's not buying shares to sell them later; it retires the shares, taking them out of circulation.
It helps investors when Meta gets more bang for its buck. A lower share price means that repurchases buy more shares, which helps EPS grow more.
Armed with that perspective, you can see why Meta's management has gotten so aggressive at repurchasing stock. Meta's price-to-earnings (P/E) ratio has fallen to just 12, less than the historical average of the S&P 500.

Meta is struggling with less effective ads due $Apple(AAPL.US)$ 's iPhone privacy changes. However, the company is still getting $0.33 of free cash flow from every revenue dollar, and analysts still believe Meta will grow EPS by an average of 11% annually over the next three to five years.