MetLife Inc. (MET) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$2.29	$2.43	+6.1%	—	$18.9B	—
Q1 26	$2.27	$2.42	+6.6%	—	$18.6B	—
Q4 25	$2.34	$2.49	+6.4%	—	$23.3B	—
Q3 25	$2.32	$2.37	+2.2%	—	$16.9B	—
Q2 25	$2.16	$2.02	-6.5%	—	$17.2B	—
Q1 25	$2.01	$1.96	-2.5%	—	$18.3B	—
Q4 24	$2.09	$2.09	0.0%	—	$18.4B	—
Q3 24	$2.18	$1.95	-10.6%	—	$18.3B	—
Q2 24	$2.11	$2.28	+8.1%	—	$17.5B	—
Q1 24	$1.82	$1.83	+0.5%	—	$15.9B	—
Q4 23	$1.91	$1.83	-4.2%	—	$19B	—
Q3 23	$1.94	$1.95	+0.5%	—	$15.7B	—
Q2 23	$1.87	$1.94	+3.7%	—	$16.4B	—
Q1 23	$1.83	$1.52	-16.9%	—	$15.5B	—
Q4 22	$1.65	$1.55	-6.1%	—	$16.8B	—
Q3 22	$1.17	$1.21	+3.4%	—	$22.5B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$4.84	—	—	$75.7B	—
FY24	—	$6.13	—	—	$69.9B	—
FY23	—	$1.81	—	—	$66.4B	—
FY22	—	$3.02	—	—	$67.8B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$60.8B	$62.3B	$67.9B	$68.7B	$66.8B	$63.7B	$67.8B	$66.4B	$69.9B	$75.7B
YoY change	-0.91%	+2.5%	+9.04%	+1.15%	-2.84%	-4.67%	+6.55%	-2.09%	+5.32%	+8.17%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	60.8B	62.3B	67.9B	68.7B	66.8B	63.7B	67.8B	66.4B	69.9B	75.7B
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	6.9B	6.7B	6.5B	6.6B	5.8B	5.8B	5.9B	6.2B	6B	6.3B
Operating expenses	7.6B	7.6B	7.2B	7.2B	6.5B	6.4B	6.5B	6.8B	6.8B	7.2B
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	1.7B	1.3B	1.9B	553M	495M	545M	520M	297M	356M	775M
Pretax income	4.3B	3.5B	6.3B	6.8B	6.9B	8.5B	6.4B	2.2B	5.6B	4.7B
Income tax	693M	-1.5B	1.2B	886M	1.5B	1.6B	1.1B	560M	1.2B	1.3B
Net income	854M	4B	5.1B	5.9B	5.4B	6.9B	5.3B	1.6B	4.4B	3.4B
Net margin	1.4%	6.45%	7.55%	8.6%	8.11%	10.8%	7.82%	2.41%	6.35%	4.5%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	0.64	3.74	5.2	6.25	5.81	7.7	3.02	1.81	6.13	4.84
Diluted EPS	0.64	3.74	5.2	6.25	5.81	7.7	2.91	1.81	6.13	4.84

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	15.7B	19B	15.9B	17.5B	18.3B	18.4B	18.3B	17.2B	16.9B	23.3B	18.6B	18.9B
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.5B	1.7B	1.5B	1.5B	1.5B	1.5B	1.6B	1.5B	1.5B	1.6B	1.7B	1.7B
Operating expenses	1.7B	1.8B	1.7B	1.7B	1.7B	1.8B	1.7B	1.7B	1.6B	2.1B	2B	1.6B
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	52M	93M	97M	80M	94M	85M	76M	75M	103M	521M	118M	121M
Pretax income	534M	941M	1B	1.2B	2B	1.4B	1.4B	980M	1.2B	1.1B	1.5B	1B
Income tax	39M	327M	170M	249M	653M	106M	404M	245M	308M	301M	345M	256M
Net income	495M	614M	875M	953M	1.3B	1.3B	950M	735M	902M	816M	1.2B	779M
Net margin	3.16%	3.23%	5.5%	5.45%	7.33%	6.91%	5.2%	4.28%	5.34%	3.5%	6.24%	4.13%
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	0.56	0.77	1.11	1.28	1.82	1.78	1.29	1.04	1.23	1.18	1.75	1.1
Diluted EPS	0.56	0.77	1.1	1.28	1.81	1.78	1.28	1.03	1.22	1.17	1.74	1.1

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	52.6B	52.8B	39.4B	46.7B	41.9B	51.6B	56.4B	50.4B	56.4B	51.7B	60.9B
Enterprise value	-239.2B	-254.4B	-262.4B	-284.8B	-318.4B	-298.5B	-227.5B	-238.8B	-25.4B	-46.4B	85.6B
Shares outstanding	1.1B	1B	958.6M	915.3M	892.9M	825.5M	779.1M	762.4M	689.2M	655.3M	655.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	61.6	13.1	7.68	7.9	7.74	7.5	10.6	31.5	12.7	15.2	18.7
P/S	0.87	0.85	0.58	0.68	0.63	0.81	0.83	0.76	0.81	0.68	0.78
P/B	0.78	0.9	0.74	0.7	0.56	0.76	1.87	1.67	2.04	1.79	2.27
EV/EBITDA	—	—	—	—	—	—	—	—	—	—	14.2
EV/Sales	-3.93	-4.08	-3.86	-4.14	-4.77	-4.69	-3.36	-3.6	-0.36	-0.61	1.08
Earnings yield	1.62%	7.62%	13%	12.7%	12.9%	13.3%	9.4%	3.18%	7.87%	6.58%	5.34%
FCF yield	28.1%	23.3%	29.8%	29.5%	27.8%	23.9%	23.1%	27.2%	25.9%	33%	-34.4%
PEG	—	—	—	—	—	—	—	—	—	—	3.44

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	5.52%
Net margin	1.4%	6.45%	7.55%	8.6%	8.11%	10.8%	7.82%	2.41%	6.35%	4.5%	4.57%
ROE	1.26%	6.83%	9.68%	8.9%	7.24%	10.1%	17.6%	5.3%	16%	11.8%	13.1%
ROA	—	—	—	—	—	—	—	—	0.66%	0.46%	0.45%
Return on tangible assets	—	—	—	—	—	—	—	—	0.67%	0.47%	0.49%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	—	—	—	—	—	—	—	—	—	2.03
Debt / equity	0.29	0.33	0.31	0.25	0.24	0.26	0.6	0.62	0.68	0.7	1.8
Debt / assets	—	—	—	—	—	—	—	—	0.03	0.03	0.03
Net debt / EBITDA	—	—	—	—	—	—	—	—	—	—	3.81
Interest coverage	4.7	4.13	6.62	8.12	8.59	10.3	7.78	3.07	6.42	5.39	5.46
Effective tax rate	16.2%	0%	18.7%	13%	21.8%	19.3%	16.7%	25.9%	21%	27%	24.9%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	55.5	59.7	70.9	75.1	74.8	77.1	87.1	87.1	101.5	115.4	121.3
EPS (basic)	0.64	3.74	5.2	6.25	5.81	7.7	3.02	1.81	6.13	4.84	4.84
EPS (diluted)	0.64	3.74	5.2	6.25	5.81	7.7	2.91	1.81	6.13	4.84	5.22
Book value per share	61.8	56.4	55.2	72.5	83.8	82.1	38.7	39.7	40.2	44.1	43
FCF per share	13.5	11.8	12.2	15.1	13	15	16.7	18	21.2	26.1	24.1
Cash per share	284.5	312.9	331.8	380.5	423.9	445.2	387.5	404.1	145.9	180.5	43

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Payout ratio	215.3%	114.8%	35.5%	30.8%	34.3%	26.8%	33.6%	110.1%	38.9%	50%	44%
Dividend yield	3.49%	8.74%	4.62%	3.9%	4.43%	3.57%	3.16%	3.5%	3.06%	3.29%	2.48%

Yield

2.48%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.593

ex-dividend Aug 4, 2026

Payout ratio

44%

of earnings

Dividend growth

7 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 4, 2026	$0.593
May 12, 2026	$0.593
Feb 3, 2026	$0.568

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$15.7B	$19B	$15.9B	$17.5B	$18.3B	$18.4B	$18.3B	$17.2B	$16.9B	$23.3B	$18.6B	$18.9B
YoY change	-30.4%	+13%	+2.89%	+6.73%	+16.9%	-3.09%	+14.8%	-1.75%	-7.74%	+26.3%	+1.93%	+9.9%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	311.6B	326.5B	318B	348.3B	378.5B	367.5B	301.9B	308.1B	100.6B	118.3B
Receivables	15.4B	18.4B	19.6B	20.4B	17.9B	17.1B	17.4B	29B	29.8B	49.1B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	18.4B	19.2B	18.8B	18.6B	20.2B	19.1B	18.6B	18.5B	17.8B	19.2B
Total assets	—	—	—	—	—	—	—	—	677.5B	745.2B
Accounts payable	—	—	—	—	—	—	—	—	—	—
Short-term debt	242M	477M	268M	235M	393M	341M	175M	119M	465M	1.6B
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	19.6B	18.8B	16B	16.6B	17.8B	17.1B	17.8B	18.7B	18.3B	18.6B
Total liabilities	—	—	—	—	—	—	—	—	649.8B	716.2B
Shareholders' equity	67.7B	58.9B	53B	66.4B	74.8B	67.7B	30.1B	30.3B	27.7B	28.9B
Total debt	19.9B	19.3B	16.2B	16.9B	18.1B	17.4B	18B	18.8B	18.7B	20.2B
Net debt	7.2B	6.6B	423M	253M	-1.6B	-2.6B	-2.2B	-1.8B	-1.4B	-1.8B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	292.4B	308.1B	303.1B	302.3B	320.2B	100.6B	109.1B	112.7B	114.8B	118.3B	120.6B	122B
Receivables	19B	29B	30B	31.8B	31.4B	29.8B	31.3B	31.5B	40.3B	49.1B	50.3B	50.6B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	18.2B	18.5B	18.1B	17.9B	18.3B	17.8B	18.1B	18.3B	18.2B	19.2B	19.1B	19.1B
Total assets	—	—	677.6B	675.7B	705B	677.5B	688.3B	702.5B	719.7B	745.2B	743.2B	759.4B
Accounts payable	—	—	—	—	—	—	—	—	—	—	—	—
Short-term debt	161M	119M	127M	390M	404M	465M	381M	379M	378M	1.6B	404M	460M
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	18.6B	18.7B	19.1B	18B	18.4B	18.3B	18.8B	19.5B	19.5B	18.6B	20.7B	20.9B
Total liabilities	—	—	—	648.2B	673.8B	649.8B	660.6B	674.5B	690.5B	716.2B	715.4B	731.4B
Shareholders' equity	25.9B	30.3B	28.8B	27.5B	31.2B	27.7B	27.8B	27.9B	29.2B	28.9B	27.8B	28B
Total debt	18.8B	18.8B	19.3B	18.4B	18.8B	18.7B	19.2B	19.9B	19.8B	20.2B	21.1B	21.3B
Net debt	3.9B	-1.8B	-579M	-2.4B	-2.9B	-1.4B	-2.1B	-2.3B	-401M	-1.8B	-1.6B	2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	854M	4B	5.1B	5.9B	5.4B	6.9B	5.3B	1.6B	4.4B	3.4B
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	2.5B	-1.9B	1.1B	77M	-464M	-792M	-681M	-2.3B	-1.9B	-537M
Operating cash flow	-5.7B	-5.4B	684M	668M	1.6B	2.5B	897M	-4.6B	-1.1B	17.1B
Capital expenditure	—	—	—	—	—	—	—	—	—	—
Investing cash flow	2.7B	-12.3B	1.4B	-11.9B	-14.3B	-15.5B	3B	-9.1B	-12.7B	-19.3B
Dividends paid	-1.8B	-4.6B	-1.8B	-1.8B	-1.9B	-1.8B	-1.8B	-1.8B	-1.7B	-1.7B
Share repurchases	-372M	-2.9B	-4B	-2.3B	-2.2B	-4.8B	-3.3B	-3.1B	-3.2B	-3.9B
Financing cash flow	177M	-1.8B	-2B	2.5B	7.2B	-3B	782M	343M	-2.9B	188M
Net change in cash	-2.9B	-19.6B	139M	-8.7B	-5.5B	-16B	4.7B	-13.3B	-16.7B	-2.1B
Free cash flow	14.8B	12.3B	11.7B	13.8B	11.6B	12.3B	13B	13.7B	14.6B	17.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	—	—	—	—	—	—	—	—	—	—	—	—
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	—	—	—	—	—	—	—	2.2B	3.6B	7.1B	2.7B	2.2B
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	-3.4B	959M	-2.8B	-2B	-2.2B	-5.8B	-4.4B	-3.8B	-5.9B	-5.3B	-6B	-9.8B
Dividends paid	-459M	-419M	-444M	-423M	-450M	-410M	-440M	-413M	-444M	-406M	-417M	-414M
Share repurchases	-792M	-859M	-1.2B	-855M	-774M	-406M	-1.4B	-510M	-1.5B	-460M	-755M	-722M
Financing cash flow	107M	180M	-311M	-1.5B	-367M	-669M	-13M	1.8B	-536M	-1.1B	2.5B	2.5B
Net change in cash	-3.3B	1.1B	-3.1B	-3.5B	-2.6B	-6.4B	-4.4B	226M	-2.8B	689M	-862M	-5.1B
Free cash flow	3.5B	5.2B	2.3B	3.5B	4.2B	4.6B	4.3B	2.2B	3.6B	7.1B	2.7B	2.2B

MetLife Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history