Meta's High-Price Share: Will a Split Bring It into the Dow?

Meta Platforms has not split its stock since going public in 2012, despite its share price reaching $721. This makes it one of the most expensive shares among the 'Magnificent Seven' stocks that are not part of the Dow Jones Industrial Average.

The group includes Alphabet, Amazon, Apple, Microsoft, and Nvidia, all of which have split their stock at some point since going public. However, Meta's share price is not out of line with other Dow members such as Goldman Sachs and Caterpillar, both of which trade at around $900 and $800 respectively.

A 10-for-1 split would turn one $721 share into 10 shares worth around $72 each, but it wouldn't change Meta's valuation. The company's second-quarter earnings per share of $6.18 would become about $0.62, and the stock would still trade at about 21 times forward earnings.

Meta's value comes from its advertising business, where pricing has been getting stronger. The average price per ad climbed 12% year over year in the second quarter, matching the first quarter's rate and doubling the 6% gain Meta reported for the last three months of 2025.