MetLife, Inc. (MET) Financial Ratios
28 years of historical data (1998–2025) · Financial Services · Insurance - Life
EV/EBITDA
↑
8.81
-9% vs avg
5yr avg: 9.66
30Y Low2.8·High19.0
P/FCF
↓
2.89
↓-27% vs avg
5yr avg: 3.93
30Y Low2.1·High21.9
P/B Ratio
↑
1.84
+11% vs avg
5yr avg: 1.67
30Y Low0.5·High2.1
ROE
↑
11.9%
↓+13% vs avg
5yr avg: 10.6%
30Y Low-8%·High20%
Debt/EBITDA
↑
3.53
+1% vs avg
5yr avg: 3.49
30Y Low1.8·High11.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MET Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
MetLife, Inc. trades at 16.7x earnings, roughly in line with its 5-year average of 17.3x, sitting at the 80th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.4x, the stock trades at a premium of 25%. On a free-cash-flow basis, the stock trades at 2.9x P/FCF, 27% below the 5-year average of 3.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $52.3B | $52.5B | $58.2B | $50.4B | $58.5B | $54.3B | $42.9B | $48.1B | $41.6B | $52.8B | $52.6B |
| Enterprise Value | $50.4B | $50.6B | $56.9B | $48.6B | $56.3B | $51.7B | $41.2B | $48.4B | $42.1B | $59.4B | $59.8B |
| P/E Ratio → | 16.70 | 16.45 | 13.78 | 36.54 | 11.49 | 8.17 | 8.27 | 8.41 | 8.36 | 13.52 | 71.67 |
| P/S Ratio | 0.68 | 0.68 | 0.83 | 0.74 | 0.86 | 0.86 | 0.63 | 0.69 | 0.61 | 0.85 | 0.87 |
| P/B Ratio | 1.84 | 1.82 | 2.10 | 1.67 | 1.94 | 0.80 | 0.57 | 0.73 | 0.79 | 0.90 | 0.78 |
| P/FCF | 2.89 | 2.90 | 3.85 | 3.54 | 5.15 | 4.24 | 3.73 | 3.46 | 4.37 | 4.15 | 3.59 |
| P/OCF | 2.89 | 2.90 | 3.85 | 3.54 | 5.15 | 4.24 | 3.73 | 3.46 | 4.37 | 4.15 | 3.59 |
P/E links to full P/E history page with 30-year chart
MET EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
MetLife, Inc.'s enterprise value stands at 8.8x EBITDA, 9% below its 5-year average of 9.7x. The Financial Services sector median is 11.4x, placing the stock at a 23% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.66 | 0.81 | 0.72 | 0.83 | 0.82 | 0.61 | 0.70 | 0.62 | 0.95 | 0.99 |
| EV / EBITDA | 8.81 | 8.85 | 8.98 | 16.88 | 8.00 | 5.61 | 5.46 | 6.52 | 6.06 | 13.71 | 12.12 |
| EV / EBIT | 10.82 | 8.85 | 8.54 | 15.16 | 7.71 | 5.48 | 5.26 | 6.24 | 5.66 | 12.73 | 11.00 |
| EV / FCF | — | 2.80 | 3.76 | 3.41 | 4.95 | 4.03 | 3.58 | 3.47 | 4.41 | 4.67 | 4.08 |
MET Profitability
Margins and return-on-capital ratios measuring operating efficiency
MetLife, Inc. earns an operating margin of 6.0%, below the Financial Services sector average of 21.2%. Operating margins have expanded from 3.2% to 6.0% over the past 3 years, signaling improving operational efficiency. ROE of 11.9% is modest. ROIC of 13.1% represents solid returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.4% | 36.4% | 27.2% | 25.5% | 27.9% | 26.6% | 22.8% | 23.3% | 23.4% | 21.6% | 23.1% |
| Operating Margin | 6.0% | 6.0% | 8.0% | 3.2% | 9.4% | 13.4% | 10.2% | 9.8% | 9.3% | 5.7% | 7.1% |
| Net Profit Margin | 4.4% | 4.4% | 6.3% | 2.3% | 7.8% | 10.8% | 8.0% | 8.5% | 7.5% | 6.4% | 1.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.9% | 11.9% | 15.3% | 5.2% | 10.8% | 9.6% | 7.7% | 9.9% | 9.2% | 6.3% | 1.2% |
| ROA | 0.5% | 0.5% | 0.6% | 0.2% | 0.7% | 0.9% | 0.7% | 0.8% | 0.7% | 0.5% | 0.1% |
| ROIC | 13.1% | 13.1% | 15.4% | 5.8% | 10.3% | 9.2% | 7.4% | 8.5% | 8.0% | 3.8% | 4.2% |
| ROCE | 1.0% | 1.0% | 1.3% | 0.5% | 1.4% | 1.7% | 0.9% | 1.0% | 0.9% | 0.4% | 0.5% |
MET Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
MetLife, Inc. carries a Debt/EBITDA ratio of 3.5x, which is moderately leveraged (15% below the sector average of 4.1x). The company holds a net cash position — cash of $22.0B exceeds total debt of $20.2B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 5.4x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.70 | 0.70 | 0.68 | 0.62 | 0.60 | 0.26 | 0.24 | 0.25 | 0.31 | 0.33 | 0.29 |
| Debt / EBITDA | 3.53 | 3.53 | 2.95 | 6.54 | 2.56 | 1.89 | 2.41 | 2.27 | 2.34 | 4.46 | 4.02 |
| Net Debt / Equity | — | -0.06 | -0.05 | -0.06 | -0.07 | -0.04 | -0.02 | 0.00 | 0.01 | 0.11 | 0.11 |
| Net Debt / EBITDA | -0.32 | -0.32 | -0.21 | -0.63 | -0.31 | -0.28 | -0.22 | 0.03 | 0.06 | 1.53 | 1.46 |
| Debt / FCF | — | -0.10 | -0.09 | -0.13 | -0.19 | -0.20 | -0.14 | 0.02 | 0.04 | 0.52 | 0.49 |
| Interest Coverage | 5.39 | 5.39 | 6.42 | 3.07 | 7.78 | 10.26 | 8.59 | 8.12 | 6.62 | 4.13 | 4.70 |
Net cash position: cash ($22.0B) exceeds total debt ($20.2B)
MET Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.65x is below 1.0, meaning current liabilities exceed current assets — though the company's $22.0B cash position helps mitigate short-term liquidity concerns. The current ratio has declined from 1.36x to 0.65x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.65 | 0.65 | 0.55 | 1.36 | 1.34 | 1.47 | — | — | — | — | — |
| Quick Ratio | 0.65 | 0.65 | 0.55 | 1.36 | 1.34 | 1.47 | — | — | — | — | — |
| Cash Ratio | 0.45 | 0.45 | 0.42 | 1.23 | 1.25 | 1.40 | — | — | — | — | — |
| Asset Turnover | — | 0.10 | 0.10 | 0.10 | 0.10 | 0.08 | 0.09 | 0.09 | 0.10 | 0.09 | 0.07 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
MET Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
MetLife, Inc. returns 10.3% to shareholders annually — split between a 2.8% dividend yield and 7.4% buyback yield. A payout ratio of 44.7% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 6.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.8% | 2.9% | 2.6% | 3.1% | 2.7% | 3.0% | 3.9% | 3.4% | 4.0% | 3.3% | 3.3% |
| Payout Ratio | 44.7% | 44.7% | 34.5% | 99.2% | 30.2% | 24.0% | 30.6% | 27.9% | 32.8% | 42.8% | 204.2% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.0% | 6.1% | 7.3% | 2.7% | 8.7% | 12.2% | 12.1% | 11.9% | 12.0% | 7.4% | 1.4% |
| FCF Yield | 34.6% | 34.5% | 26.0% | 28.3% | 19.4% | 23.6% | 26.8% | 28.9% | 22.9% | 24.1% | 27.9% |
| Buyback Yield | 7.4% | 7.4% | 5.5% | 6.2% | 5.7% | 8.8% | 5.0% | 4.7% | 9.6% | 5.5% | 0.7% |
| Total Shareholder Yield | 10.3% | 10.3% | 8.1% | 9.3% | 8.4% | 11.9% | 8.9% | 8.2% | 13.6% | 8.8% | 4.0% |
| Shares Outstanding | — | $665M | $711M | $762M | $809M | $869M | $913M | $944M | $1.0B | $1.0B | $1.1B |
Peer Comparison
Compare MET with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 METYou | $52B | 16.7 | 8.8 | 2.9 | 36.4% | 6.0% | 11.9% | 13.1% | 3.5 |
 PRU | $35B | 9.8 | 7.8 | 5.6 | 42.0% | 7.9% | 10.9% | 10.0% | 4.7 |
 LNC | $6B | 2.0 | 1.7 | — | 25.5% | 22.4% | 43.2% | 32.7% | 1.5 |
 UNM | $13B | 18.8 | 15.8 | 23.3 | 38.2% | 7.2% | 6.7% | 4.7% | 3.7 |
 PFG | $22B | 19.3 | 13.1 | 5.0 | 45.2% | 9.1% | 9.9% | 9.0% | 2.5 |
 EQH | $12B | -9.1 | — | 18.1 | 79.1% | -10.2% | -51.5% | — | — |
 GNW | $4B | 17.0 | 5.8 | 10.9 | 24.3% | 6.8% | 2.3% | 3.6% | 2.9 |
 AFL | $58B | 16.6 | 11.0 | 22.9 | 38.9% | 26.6% | 13.1% | 11.8% | 1.5 |
 GL | $12B | 11.0 | 9.2 | 9.7 | 33.4% | 24.4% | 20.6% | 13.4% | 1.6 |
 CNO | $4B | 19.5 | 14.1 | 6.3 | 44.8% | 6.5% | 8.9% | 4.0% | 7.7 |
 AIG | $42B | 14.3 | 6.8 | 12.6 | 34.5% | 14.5% | 7.4% | 5.9% | 1.3 |
| Financial Services Median | — | 13.4 | 11.4 | 10.6 | 63.4% | 21.2% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Full MET Stock Analysis
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Start ComparisonMET — Frequently Asked Questions
Quick answers to the most common questions about buying MET stock.
What is MetLife, Inc.'s P/E ratio?
MetLife, Inc.'s current P/E ratio is 16.7x. The historical average is 16.2x. This places it at the 80th percentile of its historical range.
What is MetLife, Inc.'s EV/EBITDA?
MetLife, Inc.'s current EV/EBITDA is 8.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.3x.
What is MetLife, Inc.'s ROE?
MetLife, Inc.'s return on equity (ROE) is 11.9%. The historical average is 8.5%.
Is MET stock overvalued?
Based on historical data, MetLife, Inc. is trading at a P/E of 16.7x. This is at the 80th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is MetLife, Inc.'s dividend yield?
MetLife, Inc.'s current dividend yield is 2.83% with a payout ratio of 44.7%.
What are MetLife, Inc.'s profit margins?
MetLife, Inc. has 36.4% gross margin and 6.0% operating margin.
How much debt does MetLife, Inc. have?
MetLife, Inc.'s Debt/EBITDA ratio is 3.5x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.