Pricing Log in Create free account
Friday 6 November 2026 Export MET’s income statement to Excel — free account

MetLife, Inc.

MET Financial Insurance Life

MetLife, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $77.1 billion, up 8.59% from fiscal 2024.

Revenue
+18.2%
EPS
+200.8%
Free cash flow
+1.87%
Total debt
−28.1%

Quarter to September 2026, against a year earlier

99.79 3.10 −3.01%
Market cap
$63.4B
P/E
13.0×
Fwd P/E
12.7×
Dividend yield
2.35%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2017

  • United States
  • Asia
  • MetLife Holdings
  • Latin America
  • EMEA
  • Corporate & Other

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 1.74
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — 1 — — — — —
Insider Ownership 16.31%

Capital & Financial Ratios $m

Size
Market Cap 63,390.00
Revenue ttm 82,564.00
Net income ttm 3,403.00
Free cash flow ttm 13,991.00
Net debt Q (5,231.00)
Valuation
P/E 13.01
Forward P/E 12.70
Price / sales 0.77
Forward P/S Powerpack
Price / FCF 4.53
Price / book 2.81
Financial health
Current ratio Q 0.15
Debt / equity Q 0.65
Interest coverage Q —
Growth
Revenue growth Q +18.21% (above 0%: growing)
Operating income growth Q +147.93% (above 0%: growing)
EPS, this year +15.88% (at or above 15%: strong)
EPS, next year A +8.87%
Revenue, next year A +3.37%
EPS, past 5 yrs −3.68% (below 0%: weak)
EPS, next 5 yrs A +12.10%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 58.63%
10-year low 10-year high
P/S against its own 10 years 59.26%
10-year low 10-year high
P/B against its own 10 years 99.49%
10-year low 10-year high

Dividends raised every year since 2018

Yield
2.35%
Annual rate
2.35
Payout ratio
30.6%
Growth, 2018–26
+4.41%/yr
  1. 1.66 ’18
  2. 1.74 ’19 +5
  3. 1.82 ’20 +5
  4. 1.90 ’21 +4
  5. 1.98 ’22 +4
  6. 2.06 ’23 +4
  7. 2.16 ’24 +5
  8. 2.25 ’25 +4
  9. 2.35 ’26 +4
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 20,639 20,068 22,032 19,786
Receivables 29,161 30,056 49,719 51,828
Inventory — — — —
Other — — — —
49,800 50,124 71,751 —
2023 2024 2025 Q'26
Payables 219,707 215,511 231,687 —
ST’ Debt 3,280 3,629 4,510 —
Other 219,269 221,445 236,857 250,333
442,256 440,585 473,054 —

Compound Annual Growth %

10y 5y 3y
Sales 2.31% 2.59% 3.88%
Cash Flow 1.98% 7.99% 9.43%
Earnings (4.85%) (9.38%) (14.63%)
Book Value (8.33%) (17.45%) (1.63%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 2.71 Actual 2.85

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 2.36 2.58 Beat by 0.22
Q1 FY26 2.25 2.42 Beat by 0.17
Q2 FY26 2.30 2.43 Beat by 0.13
Q3 FY26 2.71 2.85 Beat by 0.14
Q4 FY26 2.62 — Reports 3 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.74 1.09 3.67 — —
’25 1.28 1.03 1.22 1.17 4.71
’24 1.10 1.28 1.81 1.78 5.94
’23 0.02 0.48 0.56 0.77 1.81
’22 1.97 1.12 1.46 1.66 6.55
’21 0.33 3.83 1.77 1.39 7.31
’20 4.75 0.07 0.69 0.14 5.68
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 19,074 19,154 20,522 — —
’25 18,569 17,340 17,361 23,814 77,084
’24 16,057 17,823 18,440 18,666 70,986
’23 15,388 16,623 15,866 19,028 66,905
’22 15,405 15,474 22,283 15,608 68,770
’21 15,562 18,524 16,905 17,705 68,696
’20 18,310 14,099 16,015 19,418 67,842
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2,687 2,228 2,000 — —
’25 4,262 2,187 3,567 7,076 17,092
’24 2,328 3,490 4,169 4,611 14,598
’23 2,026 3,038 3,475 5,182 13,721
’22 2,040 4,393 4,310 2,301 13,044
’21 1,496 2,254 3,506 5,091 12,347
’20 1,847 846 3,793 5,153 11,639
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 2,687 2,228 2,000 — —
’25 4,262 2,187 3,567 7,076 17,092
’24 2,328 3,490 4,169 4,611 14,598
’23 2,026 3,038 3,475 5,182 13,721
’22 2,040 4,393 4,310 2,301 13,044
’21 1,496 2,254 3,506 5,091 12,347
’20 1,847 846 3,793 5,153 11,639
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 15.9% a year for ten years. It grew 4.3% a year over the last ten.

Implied
15.9%
10 years, reported
4.3%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 60,787 62,308 67,941 69,620 67,842 68,696 68,770 66,905 70,986 77,084 82,564 +2.7% 79,683 82,958 86,727 +4.0%
Gross margin, % 29.66 27.54 29.47 29.42 29.59 29.64 26.66 22.16 25.97 23.83 0.00 (5.8) pt
EBT 4,281 3,536 6,307 6,795 6,927 8,518 6,364 2,162 5,622 4,661 6,659 +0.9%
EBT margin, % 7.04 5.68 9.28 9.76 10.21 12.40 9.25 3.23 7.92 6.05 8.07 (1.0) pt
Net income 854 4,020 5,128 5,909 5,418 6,876 5,302 1,602 4,444 3,403 3,403 +16.6%
Per share, $
Per share, $ Revenue 55.24 58.25 67.54 74.25 74.73 79.63 85.62 88.30 100.49 115.24 130.02 +8.5%
Earnings 0.63 3.38 4.91 6.06 5.68 7.31 6.60 1.81 5.94 4.71 7.67 +25.0%
Cash flow 13.42 11.48 11.67 14.70 12.82 14.31 16.24 18.11 20.67 25.55 22.03 +7.4%
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 n/m
Free cash flow 13.42 11.48 11.67 14.70 12.82 14.31 16.24 18.11 20.67 25.55 22.03 +7.4%
Book value 61.52 55.03 52.65 70.80 82.42 78.53 37.51 39.93 39.22 42.88 35.46 (3.9%)
Shares, m 1,101 1,070 1,006 938 908 863 803 758 706 669 650 (5.4%)
Valuation, ×
Valuation, × P/E 79.49 14.72 8.29 8.41 8.31 8.54 11.55 36.80 13.72 16.80 13.01 20.7
P/S 0.88 0.86 0.61 0.69 0.63 0.78 0.84 0.76 0.81 0.69 0.77 0.8
P/B 0.79 0.91 0.78 0.72 0.57 0.80 1.92 1.69 2.09 1.84 2.81 1.2
EV/Sales 1.02 0.99 0.63 0.70 0.62 0.76 0.82 0.75 0.80 0.65 — 0.8
EV/FCF 4.18 5.00 3.65 3.56 3.59 4.22 4.33 3.63 3.90 2.93 — 3.9
Cash, $m
Cash, $m Operating cash flow 14,774 12,283 11,738 13,786 11,639 12,347 13,044 13,721 14,598 17,092 13,991 +1.6%
Capex — — — — — — — — — — — —
Free cash flow 14,774 12,283 11,738 13,786 11,639 12,347 13,044 13,721 14,598 17,092 13,991 +1.6%
Balance, $m
Balance, $m Working capital (330,446) (351,307) (356,057) (373,752) (398,370) (389,222) (386,125) (392,456) (390,461) (401,303) (409,993) +2.2%
Net debt 8,475 7,727 1,483 1,246 (801) (1,851) (1,499) (1,174) (877) (2,703) (5,231) n/m
Shareholders’ equity 67,702 58,870 52,958 66,382 74,817 67,749 30,125 30,253 27,703 28,680 22,519 (9.1%)
Returns, %
Returns, % ROA 0.08 0.48 0.71 0.80 0.68 0.86 0.72 0.20 0.62 0.45 0.68 +0.4 pt
ROIC 3.51 3.32 7.24 6.28 5.85 8.08 13.89 4.65 13.10 11.21 24.07 +7.7 pt
ROE 1.10 6.17 8.91 9.59 7.35 9.33 10.42 4.57 14.58 11.26 19.24 +10.2 pt
People
People Employees 58,000 49,000 48,000 49,000 46,500 43,000 45,000 45,000 45,000 46,000 — (2.5%)
Revenue/emp, $m 1.05 1.27 1.42 1.42 1.46 1.60 1.53 1.49 1.58 1.68 — +5.4%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026

Business profile

Updated

MetLife provides insurance, annuities, employee benefits and investment management. Founded in 1868 and headquartered in New York City, it is led by President and Chief Executive Officer Michel A. Khalaf. Its customers include employers, government entities, pension plans, other institutions and individuals.

In the United States, MetLife’s Group Benefits business offers workplace coverage such as life, dental, disability and vision insurance. It also offers paid family and medical leave services, legal plans and pet insurance. Some employers buy insurance from MetLife; others use it to administer benefits while retaining the insurance risk themselves.

Where the money comes from and where it goes Fiscal 2017

Fiscal 2017: revenue by segment, and margins
United States 31,846 51.11%
Asia 11,367 18.24%
MetLife Holdings 11,356 18.23%
Latin America 4,988 8.01%
EMEA 2,833 4.55%
Corporate & Other 354 0.57%
Gross margin 27.54%
Operating margin 5.68%
Pre-tax margin 5.68%

Revenue by segment since 2009

MetLife, Inc. vs peers in Insurance Life (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MET MetLife, Inc. $63.4B 19.1× 12.7× +10.46% (above 0%: growing) +5.83% (above 0%: growing) +1.87% (above 0%: growing) 25.57% 5.40%
AFL Aflac Incorporated $63.3B 18.3× 17.4× −30.99% (below 0%: shrinking) −80.26% (below 0%: shrinking) −4.39% (below 0%: shrinking) 48.76% 17.43% Compare
PRU Prudential Financial, Inc. $42.3B 11.0× 10.7× −24.57% (below 0%: shrinking) −0.52% (below 0%: shrinking) −8.45% (below 0%: shrinking) 37.49% 16.33% Compare
PUK Prudential Public Limited Company $30.7B 17.4× — −52.23% (below 0%: shrinking) +122.99% (above 0%: growing) −99.72% (below 0%: shrinking) 0.00% 0.00% Compare
GL Globe Life Inc. $12.2B 10.4× 10.5× +5.48% (above 0%: growing) −2.08% (below 0%: shrinking) +0.88% (above 0%: growing) 45.55% 30.02% Compare
UNM Unum Group $11.7B 52.2× 12.9× −24.59% (below 0%: shrinking) n/m +231.54% (above 0%: growing) 11.62% (19.45%) Compare
PRI Primerica, Inc. $8.9B 11.3× 11.1× +7.36% (above 0%: growing) +6.45% (above 0%: growing) +45.73% (above 0%: growing) 0.00% 0.00% Compare
JXN Jackson Financial Inc. $8.8B 10.6× 11.7× +8.90% (above 0%: growing) +1,269.71% (above 0%: growing) +3.43% (above 0%: growing) 17.70% 67.25% Compare
LNC Lincoln National Corporation $7.5B 2.4× 4.5× +20.33% (above 0%: growing) +220.93% (above 0%: growing) +176.69% (above 0%: growing) 0.00% 0.00% Compare
Median of peers $12.0B 11.2× 11.1× −9.55% +6.45% +2.16% 14.66% 8.17%

All 17 Insurance Life stocks →

From the latest earnings call

Updated

  • CEO Michel Khalaf said private equity returns contributed to the quarter, while underwriting and volume growth also supported results across MetLife’s businesses.
  • U.S. business president Ramy Tadros said disability claims submissions had increased and that MetLife was incorporating a further uptick into next year’s pricing.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 75.80%
Held by the ten largest 42.44%
Holder Shares Stake Change
Vanguard 71.38m 11.19% −1.21m
BlackRock 51.79m 8.12% +363.05k
Dodge & Cox 48.43m 7.59% −2.68m
State Street 25.34m 3.97% +116.61k
T. Rowe Price 21.28m 3.34% −1.50m
Geode Capital Management 13.31m 2.09% +65.61k
Morgan Stanley 12.53m 1.97% +1.41m
PZENA INVESTMENT MANAGEMENT LLC 10.96m 1.72% −340.66k
UBS 8.47m 1.33% −828.03k
Dimensional Fund Advisors 7.19m 1.13% +67.51k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 29 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 22.36m 13.81m 195.93
2024 20.32m 30.36m 197.52
2023 20.53m 15.39m 154.76
2022 18.11m 32.98m 163.78
2021 16.62m 32.51m 137.35

Ownership

Directors and executive officers, together less than 1%
Company Board of Directors,but not in any Director’sindividual capacity9 16.20%
Beneficiaries of the MetLife Policyholder Trust3c/o Wilmington Trust Company, as TrusteeRodney Square North1100 North Market Street Wilmington, DE 16.17%
Dodge & Cox4555 California Street, 8.26%
BlackRock, Inc.550 Hudson YardsNew York, NY 8.15%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

MetLife, Inc. (MET) Latest News

5 Nov

Impact 3 · · GuruFocus.com

4 Nov

Impact 3 · · Business Wire

29 Oct

Impact 3 · · Business Wire

28 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.

24 Oct

Impact 3 · · Barchart

19 Oct

Impact 3 · · Zacks

14 Oct

Impact 4 · · Business Wire
Impact 3 · · Zacks

7 Oct

Impact 4 · · Business Wire

6 Oct

Impact 3 · · ACCESS Newswire

22 Sep

Impact 3 · · Zacks

19 Sep

Impact 3 ·

19 Aug

Impact 4 ·

14 Aug

Impact 3 · transcript

13 Aug

Impact 4 · · The Motley Fool transcript

8 Aug

Impact 3 · · MarketBeat

7 Aug

Impact 3 ·

6 Aug

Impact 4 · · Moby transcript

5 Aug

Impact 4 ·
Impact 4 ·
Impact 3 ·

15 Jul

Impact 4 ·
Impact 4 ·

5 Jul

Impact 3 ·

4 Jul

Impact 4 ·

24 Jun

Impact 3 · · Bloomberg

15 Jun

Impact 3 ·

5 Jun

Impact 3 · · Simply Wall St.

MET metrics, ten years each

stockrow.com/MET · Data as of Nov 6, 2026 · For information only; not investment advice. · © 2026 stockrow.com