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

99.25 0.50 −0.50%
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

MetLife, Inc. (MET) valuation and DCF model

What the price implies · reverse DCF

At $99.25 the price implies 15.8% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 4.3% a year over the last ten years, 4.3% over the last five. The price asks for about four times its ten-year rate. Return on equity averaged 8.3% over ten years; the price implies 20.7% for good.

In December 2017 the price assumed 11.8% a year; MetLife, Inc. went on to grow the dividend a share 4.2% a year to FY2025.

Price implies
15.8%
Last 5 years, reported
4.3%
Last 10 years, reported
4.3%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
15.8% a year for ten years
$99.25
today’s price
Its base case
4.3% a year for five years, then 2.6%
$39.53
60.2% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record MetLife, Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 15.8% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against MetLife, Inc.’s own cost of capital: risk-free 4.3% + beta 0.77 × equity premium 4.5% = 7.8% cost of equity; after-tax cost of debt 5.8%; weighted, 7.4%.

Use 7.4%
Base case value per share $39.53 ten years discounted, and what follows
Current price $99.25 market price per share
Below today’s price 60.2% downside at the base case’s assumptions

How we got there$17.90 10 years of dividends+$21.62 terminal value=$39.53 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Insurance Life).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 13.01× 18.38× 14.01× 7% below 11.34× 15% above
P/FCF 4.53× 3.95× 3.91× 16% above 7.43× 39% below
P/B 2.81× 2.07× 1.41× 99% above 1.08× 161% above
EV/EBITDA — 11.78× 11.07× — 3.38× —
EV/Sales — 0.76× 0.77× — 3.90× —
P/E P/FCF P/B EV/EBITDA EV/Sales
3.08×3.56×4.04×4.52×10Y avg 3.91×2017201820192020202120222023202420252026

MET trades at 4.53× P/FCF, against a 10-year average of 3.91× (range 3.09×–4.53×). That is dearer than 100% of the last 9 year-end readings; re-rating to the average implies $85.74 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.