NYSE : MET
MetLife, Inc. — Financial statements
Financials · Insurance - Life · United States
Last price 100.02 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 63.56B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 56.03B | 54.78B | 49.92B | 49.44B | 53.73B | 46.40B |
| Total Interest & Dividend Income | 22.42B | 21.19B | 20.13B | 19.40B | 14.99B | 21.33B |
| Gain (Loss) on Sale of Investments | -1.52B | -1.09B | -1.15B | -2.73B | -1.06B | 1.60B |
| Other Revenue | 2.46B | 2.19B | 2.09B | 789.00M | 1.10B | -630.00M |
| Total Revenue | 79.40B | 77.08B | 70.98B | 66.90B | 68.76B | 68.69B |
| Policy Benefits | 60.38B | 59.07B | 53.46B | 53.03B | 54.22B | 49.40B |
| Other Operating Expenses | 13.74B | 12.80B | 11.98B | 11.67B | 10.92B | 11.10B |
| Total Operating Expenses | 74.12B | 71.87B | 65.44B | 64.69B | 65.14B | 60.50B |
| Operating Income | 5.28B | 5.21B | 5.54B | 2.21B | 3.62B | 8.19B |
| Interest Expense | -1.09B | -1.06B | -1.04B | -1.04B | -938.00M | -920.00M |
| Currency Exchange Gain (Loss) | 5.00M | 5.00M | 5.00M | 6.00M | 7.00M | 10.00M |
| Other Non Operating Income (Expenses) | 680.00M | 508.00M | 1.11B | 994.00M | 3.67B | 1.24B |
| EBT Excluding Unusual Items | 4.87B | 4.66B | 5.62B | 2.16B | 6.36B | 8.52B |
| Pretax Income | 4.87B | 4.66B | 5.62B | 2.16B | 6.36B | 8.52B |
| Income Tax Expense | 1.21B | 1.26B | 1.18B | 560.00M | 1.06B | 1.64B |
| Earnings From Continuing Ops. | 3.66B | 3.40B | 4.44B | 1.60B | 5.30B | 6.88B |
| Net Income to Company | 3.66B | 3.40B | 4.44B | 1.60B | 5.30B | 6.88B |
| Minority Interest in Earnings | -33.00M | -24.00M | -18.00M | -24.00M | -18.00M | -21.00M |
| Net Income | 3.63B | 3.38B | 4.43B | 1.58B | 5.28B | 6.86B |
| Preferred Dividends & Other Adjustments | 185.00M | 206.00M | 200.00M | 198.00M | 185.00M | 201.00M |
| Net Income to Common | 3.44B | 3.17B | 4.23B | 1.38B | 5.10B | 6.65B |
| Shares Outstanding (Basic) | 654.30M | 668.90M | 706.40M | 757.70M | 803.20M | 862.70M |
| Shares Outstanding (Diluted) | 658.45M | 673.30M | 711.10M | 762.30M | 808.90M | 869.40M |
| EPS (Basic) | 5.26 | 4.74 | 5.98 | 1.82 | 6.35 | 7.71 |
| EPS (Diluted) | 5.22 | 4.71 | 5.94 | 1.81 | 6.30 | 7.65 |
| Dividend Per Share | 2.29 | 2.25 | 2.15 | 2.06 | 1.98 | 1.90 |
| Operating Margin | 6.64% | 6.76% | 7.81% | 3.30% | 5.27% | 11.92% |
| Profit Margin | 4.33% | 4.12% | 5.95% | 2.06% | 7.41% | 9.69% |
| EBITDA | 6.04B | 5.96B | 6.26B | 2.92B | 4.29B | 8.88B |
| EBITDA Margin | 7.61% | 7.74% | 8.82% | 4.37% | 6.25% | 12.93% |
| D&A For EBITDA | 765.00M | 753.00M | 714.00M | 718.00M | 673.00M | 694.00M |
| EBIT | 5.28B | 5.21B | 5.54B | 2.21B | 3.62B | 8.19B |
| EBIT Margin | 6.64% | 6.76% | 7.81% | 3.30% | 5.27% | 11.92% |
| Effective Tax Rate | 24.85% | 26.99% | 20.95% | 25.90% | 16.69% | 19.28% |
| Revenue as Reported | 79.40B | 77.08B | 70.99B | 66.91B | 68.77B | 68.70B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 322.18B | 314.87B | 281.04B | 281.41B | 276.78B | 340.27B |
| Investments in Equity & Preferred Securities | 32.91B | 32.71B | 28.48B | 28.03B | 28.18B | 30.50B |
| Policy Loans | 8.23B | 8.55B | 8.54B | 8.79B | 8.87B | 9.11B |
| Other Investments | 9.72B | 4.91B | 6.76B | 7.90B | 6.39B | 8.43B |
| Total Investments | 468.96B | 459.07B | 430.19B | 435.64B | 421.70B | 486.56B |
| Cash & Equivalents | 19.30B | 22.03B | 20.07B | 20.64B | 20.20B | 20.05B |
| Reinsurance Recoverable | 203.00M | 139.00M | ||||
| Other Receivables | 56.47B | 55.14B | 35.40B | 34.74B | 22.78B | 22.41B |
| Deferred Policy Acquisition Cost | 20.29B | 19.73B | 18.18B | 18.39B | 17.64B | 13.64B |
| Separate Account Assets | 156.85B | 151.93B | 139.50B | 144.63B | 146.04B | 179.87B |
| Property, Plant & Equipment | 3.78B | 3.53B | 3.56B | 3.46B | 2.21B | |
| Goodwill | 9.54B | 9.61B | 8.90B | 9.24B | 9.30B | 9.54B |
| Other Intangible Assets | 636.00M | 710.00M | 794.00M | 876.00M | 2.27B | |
| Other Current Assets | 11.09B | 10.55B | 8.56B | 7.64B | 8.86B | 12.31B |
| Long-Term Deferred Tax Assets | 3.17B | 2.58B | 2.99B | 2.61B | 2.44B | 189.00M |
| Long-Term Deferred Charges | 13.00M | 146.00M | 133.00M | 107.00M | ||
| Other Long-Term Assets | 13.50B | 9.94B | 9.43B | 9.55B | 9.65B | 10.55B |
| Total Assets | 759.37B | 745.17B | 677.46B | 687.58B | 663.07B | 759.71B |
| Insurance & Annuity Liabilities | 453.08B | 427.57B | 397.03B | 397.69B | 378.79B | 345.10B |
| Unpaid Claims | 14.22B | 17.13B | 16.12B | 16.47B | 16.10B | 20.01B |
| Reinsurance Payable | 770.00M | |||||
| Current Portion of Long-Term Debt | 4.00B | 3.94B | 3.71B | 2.98B | 3.56B | 281.00M |
| Current Portion of Leases | 218.00M | |||||
| Short-Term Debt | 19.34B | 17.47B | 17.59B | 17.64B | 21.11B | 32.26B |
| Long-Term Debt | 26.97B | 42.80B | 42.27B | 44.51B | 35.47B | 75.17B |
| Long-Term Leases | 926.00M | 1.08B | 1.26B | 1.20B | 1.38B | |
| Long-Term Deferred Tax Liabilities | 311.00M | 536.00M | 132.00M | 927.00M | 950.00M | 9.69B |
| Separate Account Liability | 156.85B | 151.93B | 139.50B | 144.63B | 146.04B | 179.87B |
| Other Current Liabilities | 8.86B | 8.97B | 8.91B | 8.20B | 8.05B | 10.87B |
| Other Long-Term Liabilities | 47.78B | 43.12B | 21.71B | 20.46B | 19.96B | 14.98B |
| Total Liabilities | 731.41B | 716.25B | 649.75B | 657.33B | 632.95B | 691.96B |
| Common Stock | 12.00M | 12.00M | 12.00M | 12.00M | 12.00M | 12.00M |
| Additional Paid-In Capital | 32.93B | 32.86B | 33.79B | 33.69B | 33.62B | 33.51B |
| Retained Earnings | 45.38B | 44.29B | 42.63B | 40.15B | 40.33B | 41.20B |
| Treasury Stock | -32.14B | -30.68B | -27.80B | -24.59B | -21.46B | -18.16B |
| Comprehensive Income & Other | -18.74B | -18.08B | -21.19B | -19.24B | -22.62B | 10.92B |
| Total Common Equity | 27.44B | 28.40B | 27.45B | 30.02B | 29.88B | 67.48B |
| Minority Interest | 520.00M | 523.00M | 258.00M | 238.00M | 244.00M | 267.00M |
| Shareholders' Equity | 27.96B | 28.92B | 27.70B | 30.25B | 30.12B | 67.75B |
| Total Liabilities & Equity | 759.37B | 745.17B | 677.46B | 687.58B | 663.07B | 759.71B |
| Filing Date Shares Outstanding | 635.48M | 652.05M | 681.23M | 723.02M | 774.36M | 825.08M |
| Total Common Shares Outstanding | 637.75M | 655.33M | 689.21M | 730.82M | 779.10M | 825.54M |
| Total Debt | 50.31B | 65.35B | 64.66B | 66.40B | 61.34B | 109.09B |
| Net Cash (Debt) | -31.01B | -43.32B | -44.59B | -45.77B | -41.14B | -89.05B |
| Net Cash Per Share | -47.10 | -64.34 | -62.71 | -60.04 | -50.86 | -102.42 |
| Book Value Per Share | 43.03 | 43.33 | 39.82 | 41.07 | 38.35 | 81.74 |
| Tangible Book Value | 17.91B | 18.15B | 17.83B | 19.98B | 19.71B | 55.67B |
| Tangible Book Value Per Share | 28.08 | 27.69 | 25.88 | 27.35 | 25.30 | 67.44 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 3.63B | 3.38B | 4.43B | 1.58B | 5.28B | 6.86B |
| Depreciation & Amortization | 765.00M | 753.00M | 714.00M | 718.00M | 673.00M | 694.00M |
| Gain (Loss) on Sale of Investments | -696.00M | -696.00M | -347.00M | 1.47B | 268.00M | -2.42B |
| Change in Accounts Receivable | -27.00M | -27.00M | 460.00M | -1.95B | 299.00M | 362.00M |
| Change in Income Taxes | -624.00M | -624.00M | -484.00M | -1.18B | 198.00M | 856.00M |
| Change in Insurance Reserves / Liabilities | 7.26B | 7.26B | 4.08B | 4.64B | 3.94B | 5.00B |
| Change in Other Net Operating Assets | -158.00M | -158.00M | -1.90B | 600.00M | -1.53B | -2.02B |
| Other Operating Activities | 6.12B | 7.91B | 7.59B | 7.42B | 4.21B | 6.78B |
| Operating Cash Flow | 15.56B | 17.09B | 14.60B | 13.72B | 13.04B | 12.35B |
| Cash Acquisitions | -738.00M | -738.00M | ||||
| Investment in Securities | -23.09B | -16.56B | -10.87B | -6.42B | 5.75B | -14.23B |
| Other Investing Activities | -3.21B | -2.04B | -1.87B | -2.66B | -3.33B | -4.58B |
| Investing Cash Flow | -23.63B | -15.61B | -11.49B | -10.25B | -2.62B | -11.19B |
| Short-Term Debt Issued | 1.88B | |||||
| Long-Term Debt Issued | 2.18B | 1.85B | 2.67B | 1.01B | 29.00M | |
| Total Debt Issued | 4.05B | 2.18B | 1.85B | 2.67B | 1.01B | 1.91B |
| Total Debt Repaid | -3.04B | -2.77B | -3.08B | -5.24B | -10.87B | -661.00M |
| Net Debt Issued (Repaid) | 1.00B | -591.00M | -1.23B | -2.57B | -9.85B | 1.25B |
| Repurchases of Common Stock | -2.44B | -2.88B | -3.21B | -3.10B | -3.33B | -4.30B |
| Repurchases of Preferred Stock | -1.00B | -1.00B | -500.00M | |||
| Common Dividends Paid | -1.51B | -1.51B | -1.53B | -1.57B | -1.60B | -1.65B |
| Preferred Dividends Paid | -173.00M | -194.00M | -200.00M | -198.00M | -185.00M | -195.00M |
| Total Dividends Paid | -1.68B | -1.70B | -1.73B | -1.76B | -1.78B | -1.84B |
| Other Financing Activities | -302.00M | -508.00M | 66.00M | -213.00M | -297.00M | 192.00M |
| Financing Cash Flow | 5.27B | 163.00M | -3.13B | -2.94B | -9.95B | -1.13B |
| Foreign Exchange Rate Adjustments | -74.00M | 316.00M | -545.00M | -91.00M | -397.00M | -478.00M |
| Miscellaneous Cash Flow Adjustments | 69.00M | 696.00M | ||||
| Net Cash Flow | -2.88B | 1.96B | -571.00M | 444.00M | 148.00M | 252.00M |
| Levered Free Cash Flow | -20.95B | -13.04B | 3.20B | -8.10B | 1.41B | 5.55B |
| Unlevered Free Cash Flow | -20.27B | -12.38B | 3.85B | -7.45B | 2.00B | 6.12B |
| Cash Income Tax Paid | 1.45B | 1.56B | 1.60B | 1.83B | 1.06B | 1.10B |
| Change in Working Capital | 5.38B | 5.38B | 1.37B | 1.45B | 2.10B | 3.49B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 64.15B | 52.01B | 56.70B | 48.95B | 56.78B | 52.56B |
| Enterprise Value | 95.16B | 79.90B | 82.41B | 141.44B | 139.03B | 143.38B |
| PE Ratio | 19.35 | 16.39 | 13.42 | 35.47 | 11.14 | 7.90 |
| PS Ratio | 0.81 | 0.68 | 0.80 | 0.73 | 0.83 | 0.77 |
| PB Ratio | 2.32 | 1.80 | 2.05 | 1.62 | 1.89 | 0.78 |
| P/OCF Ratio | 4.12 | 3.04 | 3.88 | 3.57 | 4.35 | 4.26 |
| EV/Sales Ratio | 1.20 | 1.04 | 1.16 | 2.11 | 2.02 | 2.09 |
| EV/EBITDA Ratio | 15.74 | 13.40 | 13.17 | 48.36 | 32.38 | 16.14 |
| EV/EBIT Ratio | 18.02 | 15.34 | 14.86 | 64.09 | 38.40 | 17.50 |
| Debt / Equity Ratio | 1.80 | 2.26 | 2.33 | 2.19 | 2.04 | 1.61 |
| Debt / EBITDA Ratio | 8.06 | 10.61 | 10.03 | 21.24 | 13.69 | 12.00 |
| Net Debt / Equity Ratio | 1.11 | 1.50 | 1.61 | 1.51 | 1.37 | 1.31 |
| Net Debt / EBITDA Ratio | 5.13 | 7.27 | 7.12 | 15.65 | 9.58 | 10.02 |
| Quick Ratio | 1.71 | 1.59 | 1.27 | 1.31 | 0.98 | 0.80 |
| Current Ratio | 2.03 | 1.89 | 1.53 | 1.55 | 1.23 | 1.03 |
| Asset Turnover | 0.11 | 0.11 | 0.10 | 0.10 | 0.10 | 0.09 |
| Return on Equity (ROE) | 13.09% | 12.02% | 15.34% | 5.31% | 10.83% | 9.65% |
| Return on Assets (ROA) | 0.45% | 0.46% | 0.51% | 0.20% | 0.32% | 0.66% |
| Return on Invested Capital (ROIC) | 5.10% | 4.08% | 4.64% | 1.74% | 2.25% | 3.67% |
| Earnings Yield | 5.17% | 6.50% | 7.81% | 3.22% | 9.31% | 13.04% |
| Dividend Yield | 2.35% | 2.83% | 2.62% | 3.08% | 2.72% | 2.98% |
| Payout Ratio | 45.44% | 50.40% | 39.02% | 111.79% | 33.74% | 26.87% |
| Buyback Yield / Dilution | 4.70% | 5.32% | 6.72% | 5.76% | 6.96% | 4.80% |
| Total Shareholder Return | 7.04% | 8.15% | 9.34% | 8.84% | 9.68% | 7.78% |