MetLife, Inc. (MET) 10-Year Financial Performance & Capital Metrics

MET • • Insurance & Managed Care

Financial ServicesLife InsuranceDiversified Life & Health InsurersGlobal Diversified Insurers

AboutMetLife, Inc., a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements. It also provides pension risk transfers, institutional income annuities, structured settlements, and capital markets investment products; and other products and services, such as life insurance products and funding agreements for funding postretirement benefits, as well as company, bank, or trust-owned life insurance used to finance nonqualified benefit programs for executives. In addition, it provides fixed, indexed-linked, and variable annuities; and pension products; regular savings products; whole and term life, endowments, universal and variable life, and group life products; longevity reinsurance solutions; credit insurance products; and protection against long-term health care services. MetLife, Inc. was founded in 1863 and is headquartered in New York, New York.Show more

Revenue $69.94B +3.3%
Combined Ratio 91.96% -5.0%
Net Income $4.43B +180.5%
Return on Equity 15.27% +192.2%
Medical Cost Ratio 72.83% -2.2%
Operating Margin 8.04% +151.7%
Net Margin 6.33% +171.5%
ROA 0.65% +177.5%
Equity / Assets 4.09% -7.1%
Book Value per Share 38.96 -1.8%
Tangible BV/Share 26.44 -4.1%
Debt/Equity 0.68 +8.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Profitable underwriting: 92.0% combined ratio
✓Strong Piotroski F-Score: 7/9
✓12 consecutive years of dividend growth
✓Healthy dividend yield of 2.8%
✓Share count reduced 6.7% through buybacks

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-0.47%

5Y0.09%

3Y3.34%

TTM0.06%

Profit (Net Income) CAGR

10Y-3.48%

5Y-5.58%

3Y-13.57%

TTM2.1%

EPS CAGR

10Y0.92%

5Y-0.4%

3Y-8.09%

TTM7.06%

ROCE

10Y Avg0.75%

5Y Avg0.81%

3Y Avg0.68%

Latest0.82%

Peer Comparison

Global Diversified Insurers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PUKPrudential plc	40.3B	31.88	18.98	-32.01%	15.46%	21.22%	8.7%	0.25
PRUPrudential Financial, Inc.	40.74B	116.43	15.52	30.24%	4.51%	7.51%	20.87%	0.72
MFCManulife Financial Corporation	63.06B	37.60	13.24	-3.57%	8.24%	11.14%	42.01%	0.27
METMetLife, Inc.	51.33B	77.90	13.11	3.29%	5.43%	13.16%	29.45%	0.68
PRHPrudential Financial, Inc. 5.95		25.10	3.33	30.43%	4.69%	7.51%		0.96
PRSPrudential Financial, Inc. 5.62		24.30	3.24	30.43%	4.69%	7.51%		0.96

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	61.34B	60.53B	62.31B	67.94B	69.62B	67.89B	63.37B	67.97B	67.71B	69.94B
Revenue Growth %	-0.16%	-0.01%	0.03%	0.09%	0.02%	-0.02%	-0.07%	0.07%	-0%	0.03%
Medical Costs & Claims+	45.17B	46.57B	48.85B	52.04B	53.43B	52.42B	46.53B	49.03B	50.42B	50.94B
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	16.17B	13.96B	13.46B	15.9B	16.19B	15.47B	16.84B	18.94B	17.29B	19B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.26%	-0.14%	-0.04%	0.18%	0.02%	-0.04%	0.09%	0.12%	-0.09%	0.1%
Operating Expenses+	10.52B	9.67B	9.93B	9.59B	9.39B	8.54B	8.32B	12.57B	15.13B	13.38B
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	693M	652M	795M	628M	630M	619M	694M	673M	718M	714M
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	5.65B	4.28B	3.54B	6.31B	6.79B	6.93B	8.52B	6.36B	2.16B	5.62B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.36%	-0.24%	-0.17%	0.78%	0.08%	0.02%	0.23%	-0.25%	-0.66%	1.6%
EBITDA+	6.34B	4.93B	4.33B	6.93B	7.42B	7.55B	9.21B	7.04B	2.88B	6.34B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	1.17B	1.16B	1.13B	1.12B	955M	913M	920M	938M	1.04B	1.04B
Non-Operating Income	-1.17B	-1.16B	-1.13B	-1.12B	-955M	-913M	-920M	-938M	-1.04B	-1.04B
Pretax Income+	5.65B	4.28B	3.54B	6.31B	6.79B	6.93B	8.52B	6.36B	2.16B	5.62B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.59B	693M	-1.47B	1.18B	886M	1.51B	1.64B	1.06B	560M	1.18B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	5.37B	850M	4.01B	5.12B	5.9B	5.41B	6.86B	5.28B	1.58B	4.43B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.15%	-0.84%	3.72%	0.28%	0.15%	-0.08%	0.27%	-0.23%	-0.7%	1.8%
EPS (Diluted)+	4.57	0.67	3.74	4.91	6.06	5.68	7.65	6.30	1.81	5.94
EPS Growth %	-0.16%	-0.85%	4.58%	0.31%	0.23%	-0.06%	0.35%	-0.18%	-0.71%	2.28%
EPS (Basic)	3.48	0.68	3.74	4.95	6.10	5.72	7.70	6.35	1.82	5.98
Diluted Shares Outstanding	1.13B	1.1B	1.04B	1.01B	944.4M	913.2M	869.4M	808.9M	762.43M	711.1M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	877.93B	898.76B	719.89B	687.54B	740.46B	795.15B	759.71B	663.07B	687.58B	677.46B
Asset Growth %	-0.03%	0.02%	-0.2%	-0.04%	0.08%	0.07%	-0.04%	-0.13%	0.04%	-0.01%
Total Investment Assets+	495.46B	667.65B	313.8B	436.21B	473.8B	508.52B	494.82B	433.29B	434.34B	435.38B
Long-Term Investments	131.03B	368.67B	0	134.01B	142.13B	149.81B	375.49B	151.58B	152.93B	314.67B
Short-Term Investments	364.02B	298.98B	313.8B	302.2B	331.67B	358.71B	347.45B	281.71B	281.41B	80.5B
Total Current Assets+	376.77B	37.95B	21.09B	23.34B	368.71B	396.38B	0	296.98B	331.21B	0
Cash & Equivalents	12.75B	12.65B	12.7B	15.82B	16.6B	19.8B	20.05B	20.2B	20.64B	20.07B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	-22.86B	-289.15B	-323.83B	-16.06B	0	0	-384.83B	-22.34B	-1.03B	-131.34B
Goodwill & Intangibles+	9.48B	9.22B	9.59B	9.42B	9.31B	10.11B	9.54B	9.3B	9.24B	8.9B
Goodwill	9.48B	9.22B	9.59B	9.42B	9.31B	10.11B	9.54B	9.3B	9.24B	8.9B
Intangible Assets	0	0	0	0	0	0	0	0	0	0
PP&E (Net)	0	2.4B	0	2.6B	2.79B	2.8B	0	3.46B	3.56B	1.85B
Other Assets	705.14B	-7.51B	0	513.18B	569.64B	612.63B	-385.02B	476.1B	154.21B	-325.42B
Total Liabilities	809.44B	831.06B	661.02B	634.58B	674.08B	720.33B	691.96B	632.95B	657.33B	649.75B
Total Debt+	21.32B	21.13B	19.31B	16.24B	16.85B	18.15B	17.43B	17.98B	18.83B	18.71B
Net Debt	8.56B	7.2B	6.61B	423M	253M	-1.65B	-2.62B	-2.21B	-1.81B	-1.35B
Long-Term Debt	21.22B	20.88B	19.95B	15.98B	16.62B	17.76B	17.09B	17.75B	18.68B	18.24B
Short-Term Debt	100M	242M	477M	268M	235M	393M	341M	175M	119M	465M
Total Current Liabilities+	36.97B	0	26.51B	25.5B	235M	393M	0	0	119M	0
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Deferred Revenue	0	0	0	0	0	0	0	2.83B	0	0
Other Current Liabilities	36.15B	-938M	25.04B	24.12B	-1.04B	-716M	-2.5B	-3.39B	-386M	-850M
Deferred Taxes	0	0	1000K	0	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	788.22B	810.18B	607.79B	618.6B	648.37B	691.57B	-26.78B	615.14B	637B	-18.38B
Total Equity+	68.5B	67.7B	58.87B	52.96B	66.38B	74.82B	67.75B	30.13B	30.25B	27.7B
Equity Growth %	-0.06%	-0.01%	-0.13%	-0.1%	0.25%	0.13%	-0.09%	-0.56%	0%	-0.08%
Shareholders Equity	67.95B	67.53B	58.68B	52.74B	66.14B	74.56B	67.48B	29.88B	30.02B	27.45B
Minority Interest	547M	171M	194M	217M	238M	259M	267M	244M	238M	258M
Retained Earnings	35.52B	34.68B	26.53B	28.93B	33.08B	36.49B	41.2B	40.33B	40.15B	42.63B
Common Stock	12M	12M	12M	12M	12M	12M	12M	12M	12M	12M
Accumulated OCI	4.77B	5.37B	7.43B	1.72B	13.05B	18.07B	10.92B	-22.62B	-19.24B	-21.19B
Return on Equity (ROE)	0.08%	0.01%	0.06%	0.09%	0.1%	0.08%	0.1%	0.11%	0.05%	0.15%
Return on Assets (ROA)	0.01%	0%	0%	0.01%	0.01%	0.01%	0.01%	0.01%	0%	0.01%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	0.31x	0.31x	0.33x	0.31x	0.25x	0.24x	0.26x	0.60x	0.62x	0.68x
Book Value per Share	60.70	61.80	56.41	52.23	70.29	81.93	77.93	37.24	39.68	38.96
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	13.35B	14.66B	12.72B	9.53B	13.93B	11.51B	12.83B	11.37B	14.26B	15.12B
Operating CF Growth %	-0.22%	0.1%	-0.13%	-0.25%	0.46%	-0.17%	0.11%	-0.11%	0.25%	0.06%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	5.31B	3.58B	5B	5.12B	5.9B	5.41B	6.55B	5.28B	1.58B	4.43B
Depreciation & Amortization	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-2.83B	3.36B	1.68B	-1.59B	462M	1.38B	1.46B	5.42B	10.5B	8.84B
Working Capital Changes	10.87B	7.72B	6.04B	5.99B	7.56B	4.72B	4.81B	673M	2.18B	1.85B
Cash from Investing+	-10.4B	-5.85B	-16.88B	-5.63B	-17.59B	-18.57B	-11.19B	-2.62B	-10.25B	-11.49B
Capital Expenditures	0	0	0	0	0	0	4.36B	0	-1.17B	0
Acquisitions	0	385M	-1.28B	0	-1.08B	-1.68B	3.27B	-709M	-755M	-358M
Purchase of Investments	-154.94B	-154.63B	-115.47B	-108.16B	-91.79B	-93.58B	-109.32B	-104.64B	-84.27B	-82.14B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	-5.22B	-9.03B	-1.65B	-7.61B	-4.73B	-2.36B	-20.29B	-5.7B	-143M	1.07B
Cash from Financing+	-1.29B	-3.5B	-906M	-2.8B	4.57B	10.73B	-1.38B	-9.95B	-2.94B	-3.13B
Dividends Paid	-1.77B	-1.84B	-1.82B	-1.82B	-1.82B	-1.86B	-1.84B	-1.78B	-1.76B	-1.73B
Share Repurchases	-3.43B	-372M	-2.93B	-3.99B	-2.29B	-2.15B	-4.8B	-3.33B	-3.1B	-3.21B
Stock Issued	1.48B	0	0	1.27B	0	1.96B	0	0	0	0
Debt Issuance (Net)	1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K	1000K	1000K	-1000K
Other Financing	25M	61M	4.21B	3.64B	8.27B	11.9B	5.9B	-5.72B	1.05B	2.79B
Net Change in Cash+	1.94B	-101M	50M	3.12B	777M	3.2B	252M	148M	444M	-571M
Exchange Rate Effect	1000K	-1000K	1000K	1000K	-1000K	-1000K	-1000K	1000K	-1000K	-1000K
Cash at Beginning	10.81B	12.75B	12.65B	12.7B	15.82B	16.6B	19.8B	20.05B	20.2B	20.64B
Cash at End	12.75B	17.88B	12.7B	15.82B	16.6B	19.8B	20.05B	20.2B	20.64B	20.07B
Free Cash Flow+	13.35B	14.66B	12.72B	9.53B	13.93B	11.51B	12.83B	11.37B	14.26B	15.12B
FCF Growth %	-0.22%	0.1%	-0.13%	-0.25%	0.46%	-0.17%	0.11%	-0.11%	0.25%	0.06%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	11.83	13.38	12.19	9.4	14.74	12.6	14.75	14.06	18.7	21.26

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	90.79%	92.93%	94.32%	90.72%	90.24%	89.8%	86.56%	90.64%	96.81%	91.96%
Medical Cost Ratio	73.64%	76.94%	78.39%	76.6%	76.75%	77.21%	73.43%	72.14%	74.47%	72.83%
Return on Equity (ROE)	7.61%	1.25%	6.34%	9.16%	9.89%	7.66%	9.62%	10.8%	5.23%	15.27%
Return on Assets (ROA)	0.6%	0.1%	0.5%	0.73%	0.83%	0.7%	0.88%	0.74%	0.23%	0.65%
Equity / Assets	7.8%	7.53%	8.18%	7.7%	8.96%	9.41%	8.92%	4.54%	4.4%	4.09%
Book Value / Share	60.7	61.8	56.41	52.23	70.29	81.93	77.93	37.24	39.68	38.96
Debt / Equity	0.31x	0.31x	0.33x	0.31x	0.25x	0.24x	0.26x	0.60x	0.62x	0.68x
Revenue Growth	-16.33%	-1.33%	2.94%	9.04%	2.47%	-2.49%	-6.66%	7.26%	-0.38%	3.29%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Prepaid legal plans and administrative-only contracts	-	-	-	-	-	-	-	-	-	572M
Prepaid legal plans and administrative-only contracts Growth	-	-	-	-	-	-	-	-	-	-
Vision fee for service arrangements	-	-	-	-	-	-	-	-	-	536M
Vision fee for service arrangements Growth	-	-	-	-	-	-	-	-	-	-
Fee-based investment management services	-	-	-	-	-	-	-	-	-	394M
Fee-based investment management services Growth	-	-	-	-	-	-	-	-	-	-
Other revenue from service contracts from customers	-	-	-	-	-	-	-	-	-	319M
Other revenue from service contracts from customers Growth	-	-	-	-	-	-	-	-	-	-
Administrative Service	-	-	-	-	-	-	-	-	-	273M
Administrative Service Growth	-	-	-	-	-	-	-	-	-	-
Distribution Service	-	-	-	-	-	-	-	-	-	151M
Distribution Service Growth	-	-	-	-	-	-	-	-	-	-
Group Benefits	-	-	-	-	-	-	-	-	25.23B	-
Group Benefits Growth	-	-	-	-	-	-	-	-	-	-
Retirement and Income Solutions	-	-	-	-	-	-	-	-	16.64B	-
Retirement and Income Solutions Growth	-	-	-	-	-	-	-	-	-	-
Asia	-	11.16B	11.37B	11.76B	12.05B	12.46B	13.36B	11.41B	10.93B	-
Asia Growth	-	-	1.88%	3.49%	2.46%	3.39%	7.21%	-14.62%	-4.22%	-
MetLife Holdings	-	12.47B	11.36B	10.73B	10.41B	10.1B	11.14B	9.25B	8.2B	-
MetLife Holdings Growth	-	-	-8.91%	-5.55%	-2.98%	-2.99%	10.36%	-16.98%	-11.32%	-
Latin America	-	4.67B	4.99B	5.08B	5.13B	4.29B	5.03B	6.03B	7.37B	-
Latin America Growth	-	-	6.76%	1.92%	0.94%	-16.43%	17.28%	19.94%	22.18%	-
EMEA	-	2.81B	2.83B	2.92B	2.94B	3.01B	2.93B	2.46B	2.54B	-
EMEA Growth	-	-	0.85%	3.11%	0.82%	2.31%	-2.82%	-16.02%	3.42%	-
Corporate & Other	-	-658M	354M	629M	651M	411M	701M	598M	808M	-
Corporate & Other Growth	-	-	153.80%	77.68%	3.50%	-36.87%	70.56%	-14.69%	35.12%	-
Reconciling Items	-	-5.4B	-436M	-220M	2.65B	1.38B	836M	-5.65B	-4.81B	-
Reconciling Items Growth	-	-	91.93%	49.54%	1302.73%	-47.96%	-39.29%	-775.84%	14.87%	-
United States	-	29.48B	31.85B	37.04B	35.79B	36.2B	37.08B	45.8B	-	-
United States Growth	-	-	8.03%	16.30%	-3.38%	1.14%	2.46%	23.51%	-	-
Brighthouse Financial	-	8.95B	-	-	-	-	-	-	-	-
Brighthouse Financial Growth	-	-	-	-	-	-	-	-	-	-
Retail	20.96B	-	-	-	-	-	-	-	-	-
Retail Growth	-	-	-	-	-	-	-	-	-	-
Group, Voluntary and Worksite Benefits	19.45B	-	-	-	-	-	-	-	-	-
Group, Voluntary and Worksite Benefits Growth	-	-	-	-	-	-	-	-	-	-
Corporate Benefit Funding	9.27B	-	-	-	-	-	-	-	-	-
Corporate Benefit Funding Growth	-	-	-	-	-	-	-	-	-	-
Corporate and Other	583M	-	-	-	-	-	-	-	-	-
Corporate and Other Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
United States	-	50.9B	43.2B	47.76B	46.19B	46.29B	48.23B	55.05B	50.07B	-
United States Growth	-	-	-15.12%	10.56%	-3.29%	0.21%	4.18%	14.15%	-9.05%	-
Asia	-	11.16B	11.37B	11.76B	12.05B	12.46B	13.36B	11.41B	10.93B	-
Asia Growth	-	-	1.88%	3.49%	2.46%	3.39%	7.21%	-14.62%	-4.22%	-
Latin America	-	4.67B	4.99B	5.08B	5.13B	4.29B	5.03B	6.03B	7.37B	-
Latin America Growth	-	-	6.76%	1.92%	0.94%	-16.43%	17.28%	19.94%	22.18%	-
EMEA	-	2.81B	2.83B	2.92B	2.94B	3.01B	2.93B	2.46B	2.54B	-
EMEA Growth	-	-	0.85%	3.11%	0.82%	2.31%	-2.82%	-16.02%	3.42%	-
Corporate & Other	-	-658M	354M	629M	651M	411M	701M	598M	808M	-
Corporate & Other Growth	-	-	153.80%	77.68%	3.50%	-36.87%	70.56%	-14.69%	35.12%	-
Reconciling Items	-	-5.4B	-436M	-220M	2.65B	1.38B	-836M	-5.65B	-4.81B	-
Reconciling Items Growth	-	-	91.93%	49.54%	1302.73%	-47.96%	-160.71%	-575.84%	14.87%	-
UNITED STATES	54.78B	-	-	-	-	-	-	-	-	-
UNITED STATES Growth	-	-	-	-	-	-	-	-	-	-
Asia	11.26B	-	-	-	-	-	-	-	-	-
Asia Growth	-	-	-	-	-	-	-	-	-	-
Latin America	5.1B	-	-	-	-	-	-	-	-	-
Latin America Growth	-	-	-	-	-	-	-	-	-	-
Europe, Middle East And Africa	2.85B	-	-	-	-	-	-	-	-	-
Europe, Middle East And Africa Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

MetLife, Inc. (MET) has a price-to-earnings (P/E) ratio of 13.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

MetLife, Inc. (MET) grew revenue by 3.3% over the past year. Growth has been modest.

Yes, MetLife, Inc. (MET) is profitable, generating $3.84B in net income for fiscal year 2024 (6.3% net margin).

Dividend & Returns

Yes, MetLife, Inc. (MET) pays a dividend with a yield of 2.76%. This makes it attractive for income-focused investors.

MetLife, Inc. (MET) has a return on equity (ROE) of 15.3%. This is reasonable for most industries.

Industry Metrics

MetLife, Inc. (MET) has a combined ratio of 92.0%. A ratio below 100% indicates underwriting profitability.

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