Aflac Incorporated (AFL) vs MetLife, Inc. (MET)

Aflac Incorporated and MetLife, Inc. are both Insurance Life companies. Aflac Incorporated and MetLife, Inc. are of similar size ($61.6B and $57.2B). Aflac Incorporated trades at the lower P/E: 12.1× against 18.7×. Aflac Incorporated grew revenue faster over the last twelve months: 13.6% against 8.75%. Aflac Incorporated has the higher net margin (26.9% vs 4.33%) and the higher return on invested capital (11.0% vs 10.7%). Both pay a dividend; MetLife, Inc. yields more (3.19% vs 2.48%). Across the 23 metrics below, Aflac Incorporated leads on 13 and MetLife, Inc. on 10.

Valuation

Metric AFL MET Insurance Life median
P/E 12.15 18.72 12.15
P/S 3.18 0.79 0.75
P/B 1.89 2.26 1.12
Price to free cash flow 21.67 4.04 7.78
EV/EBITDA 8.69 13.07 8.42
EV/Sales 3.32 0.80 0.80
Earnings yield 8.23% 5.34% 8.23%
Free cash flow yield 4.61% 24.78% 11.12%

Profitability

Metric AFL MET Insurance Life median
Gross margin 55.74% 24.66% 32.44%
Operating margin 33.36% 6.13% 11.31%
Net margin 26.91% 4.33% 6.61%
Free cash flow margin 14.65% 19.59% 15.04%
Return on equity 16.91% 12.36% 8.67%
Return on assets 4.04% 0.47% 0.67%
Return on invested capital 10.98% 10.65% 8.20%

Growth

Metric AFL MET Insurance Life median
Revenue growth (TTM) 13.56% 8.75% 7.91%
EPS growth (last fiscal year) (29.18%) (20.71%) —
Revenue growth, 5-year CAGR (4.97%) 2.59% 1.08%
Net income growth, 5-year CAGR (5.26%) (9.38%) 0.00%

Health

Metric AFL MET Insurance Life median
Debt to equity 0.29 0.73 0.48
Current ratio 0.11 0.15 0.21
Net debt to EBITDA 0.38 (0.76) 0.12

Dividend

Metric AFL MET Insurance Life median
Dividend yield 2.48% 3.19% 2.41%
Payout ratio 0.22 4.70 0.17

Size

Metric AFL MET Insurance Life median
Market cap 57.16b 61.64b 7.92b

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