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MetLife (MET) Financials

MetLife logo
$76.25 +2.43 (+3.29%)
Closing price 08/8/2025 03:59 PM Eastern
Extended Trading
$75.14 -1.11 (-1.46%)
As of 08/8/2025 07:02 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for MetLife

Annual Income Statements for MetLife

This table shows MetLife's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 6,187 5,215 747 3,907 4,982 5,721 5,191 6,654 5,099 1,380 4,226
Consolidated Net Income / (Loss)		 6,336 5,385 854 4,020 5,128 5,909 5,418 6,876 5,302 1,602 4,444
Net Income / (Loss) Continuing Operations		 6,339 4,061 3,588 5,006 5,128 5,909 5,418 6,876 5,302 1,602 4,444
Total Pre-Tax Income 		8,804 5,651 4,281 3,536 6,307 6,795 6,927 8,518 6,364 2,162 5,622
Total Revenue		 73,316 61,343 60,787 62,308 67,941 69,620 67,842 68,696 72,444 67,899 72,095
Net Interest Income / (Expense)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Non-Interest Income		 73,316 61,343 60,787 62,308 67,941 69,620 67,842 68,696 72,444 67,899 72,095
Other Service Charges		 11,976 7,497 7,168 6,851 7,382 7,445 7,452 7,863 7,855 7,678 7,575
Net Realized & Unrealized Capital Gains on Investments		 22,273 17,443 16,417 16,465 16,719 19,940 18,356 19,681 12,405 14,944 18,466
Premiums Earned		 39,067 36,403 37,202 38,992 43,840 42,235 42,034 41,152 48,510 44,283 44,945
Other Non-Interest Income		 - - - - - - - - 3,674 994 1,109
Total Non-Interest Expense		 64,512 55,692 56,506 58,772 61,634 62,825 60,915 60,178 66,080 65,737 66,473
Property & Liability Insurance Claims		 46,045 39,559 41,534 43,920 46,669 47,925 46,675 48,517 53,401 52,450 53,067
Insurance Policy Acquisition Costs		 1,376 1,356 1,223 1,231 1,251 1,211 1,090 880 706 622 595
Other Operating Expenses		 17,091 14,777 13,749 13,621 13,714 13,689 13,150 12,018 11,973 12,665 12,811
Income Tax Expense		 2,465 1,590 693 -1,470 1,179 886 1,509 1,642 1,062 560 1,178
Preferred Stock Dividends Declared		 122 158 103 103 141 178 216 201 185 198 200
Net Income / (Loss) Attributable to Noncontrolling Interest		 27 12 4.00 10 5.00 10 11 21 18 24 18
Basic Earnings per Share		 $5.48 $4.67 $0.68 $3.65 $4.95 $6.10 $5.72 $7.71 $6.35 $1.82 $5.98
Weighted Average Basic Shares Outstanding		 1.13B 1.12B 1.10B 1.07B 1.01B 915.83M 884.40M 825.08M 774.36M 723.02M 681.23M
Diluted Earnings per Share		 $5.42 $4.62 $0.67 $3.62 $4.91 $6.06 $5.68 $7.65 $6.30 $1.81 $5.94
Weighted Average Diluted Shares Outstanding		 1.13B 1.12B 1.10B 1.07B 1.01B 915.83M 884.40M 825.08M 774.36M 723.02M 681.23M
Weighted Average Basic & Diluted Shares Outstanding		 1.13B 1.12B 1.10B 1.07B 1.01B 915.83M 884.40M 825.08M 774.36M 723.02M 681.23M
Cash Dividends to Common per Share		 $1.33 $1.48 $1.58 $1.60 $1.66 $1.74 $1.82 $1.90 $1.98 $2.06 $2.16

Quarterly Income Statements for MetLife

This table shows MetLife's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 1,549 14 370 422 574 800 912 1,275 1,239 879 698
Consolidated Net Income / (Loss)		 1,581 85 408 495 614 875 953 1,341 1,275 950 735
Net Income / (Loss) Continuing Operations		 1,581 85 408 495 614 875 953 1,341 1,275 950 735
Total Pre-Tax Income 		2,026 257 430 534 941 1,045 1,202 1,994 1,381 1,354 980
Total Revenue		 17,842 15,200 16,623 15,866 20,210 16,751 17,823 17,909 19,612 18,569 17,617
Net Interest Income / (Expense)		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Interest Income		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Interest Expense		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Non-Interest Income		 17,842 15,200 16,623 15,866 20,210 16,751 17,823 17,909 19,612 18,569 17,617
Other Service Charges		 1,893 1,928 1,909 1,940 1,901 1,922 1,919 1,876 1,858 1,916 1,938
Net Realized & Unrealized Capital Gains on Investments		 4,710 3,871 3,036 2,696 5,341 4,082 4,276 5,917 4,191 4,930 4,592
Premiums Earned		 9,005 9,589 11,678 11,230 11,786 10,053 11,628 10,647 12,617 11,723 10,810
Other Non-Interest Income		 - -188 - - - 694 - -531 - - 277
Total Non-Interest Expense		 15,816 14,943 16,193 15,332 19,269 15,706 16,621 15,915 18,231 17,215 16,637
Property & Liability Insurance Claims		 10,706 11,736 13,726 12,771 14,217 12,364 13,475 12,634 14,594 13,422 13,167
Insurance Policy Acquisition Costs		 155 159 151 153 159 147 148 150 150 144 146
Other Operating Expenses		 3,233 3,048 3,133 3,204 3,280 3,195 3,180 3,131 3,305 3,350 3,324
Income Tax Expense		 445 172 22 39 327 170 249 653 106 404 245
Preferred Stock Dividends Declared		 29 66 32 67 33 67 34 67 32 66 31
Net Income / (Loss) Attributable to Noncontrolling Interest		 3.00 5.00 6.00 6.00 7.00 8.00 7.00 -1.00 4.00 5.00 6.00
Basic Earnings per Share		 $1.97 $0.02 $0.48 $0.56 $0.76 $1.11 $1.28 $1.82 $1.77 $1.29 $1.04
Weighted Average Basic Shares Outstanding		 774.36M 765.82M 752.02M 740.19M 723.02M 711.12M 700.32M 692.42M 681.23M 671.30M 665.03M
Diluted Earnings per Share		 $1.96 $0.02 $0.48 $0.56 $0.75 $1.10 $1.28 $1.81 $1.75 $1.28 $1.03
Weighted Average Diluted Shares Outstanding		 774.36M 765.82M 752.02M 740.19M 723.02M 711.12M 700.32M 692.42M 681.23M 671.30M 665.03M
Weighted Average Basic & Diluted Shares Outstanding		 774.36M 765.82M 752.02M 740.19M 723.02M 711.12M 700.32M 692.42M 681.23M 671.30M 665.03M

Annual Cash Flow Statements for MetLife

This table details how cash moves in and out of MetLife's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 3,223 1,944 5,125 -5,176 3,120 777 3,962 -444 79 444 -571
Net Cash From Operating Activities		 16,376 14,052 14,774 12,283 11,738 13,786 11,639 12,347 13,044 13,721 14,598
Net Cash From Continuing Operating Activities		 16,376 14,052 14,774 12,283 11,738 13,786 11,639 12,347 13,044 13,721 14,598
Net Income / (Loss) Continuing Operations		 6,336 5,385 854 4,020 5,128 5,909 5,418 6,876 5,302 1,602 4,444
Consolidated Net Income / (Loss)		 6,336 5,385 854 4,020 5,128 5,909 5,418 6,876 5,302 1,602 4,444
Depreciation Expense		 713 693 652 795 628 630 619 694 673 718 714
Amortization Expense		 -611 -1,141 -1,110 -1,044 -1,013 -999 -816 -874 -992 -1,332 -1,512
Non-Cash Adjustments to Reconcile Net Income		 -2,394 -2,511 6,545 2,903 -1,209 821 1,565 1,321 2,615 10,627 8,804
Changes in Operating Assets and Liabilities, net		 12,332 11,626 7,833 5,609 8,204 7,425 4,853 4,330 5,446 2,106 2,148
Net Cash From Investing Activities		 -15,055 -10,398 -5,850 -16,876 -5,634 -17,586 -18,569 -11,187 -2,620 -10,246 -11,493
Net Cash From Continuing Investing Activities		 -15,055 -10,398 -5,850 -16,876 -5,634 -17,586 -18,569 -11,187 -2,620 -10,246 -11,493
Acquisitions		 -4,003 -4,211 -6,963 -8,696 -4,173 -3,749 -4,247 -7,990 -7,793 -5,662 -3,981
Purchase of Investment Securities		 -147,715 -173,918 -170,240 -124,533 -125,288 -108,884 -123,132 -141,348 -116,549 -89,164 -88,213
Divestitures		 436 0.00 156 - - 0.00 0.00 3,270 590 0.00 0.00
Sale and/or Maturity of Investments		 134,979 165,977 167,244 111,872 119,709 92,700 104,139 131,663 117,394 82,514 79,848
Other Investing Activities, net		 1,248 1,754 3,953 4,481 4,118 2,347 4,671 3,218 3,738 2,066 853
Net Cash From Financing Activities		 2,256 -1,218 -3,497 -906 -2,801 4,568 10,729 -1,126 -9,948 -2,940 -3,131
Net Cash From Continuing Financing Activities		 2,256 -1,218 -3,497 -906 -2,801 4,568 10,729 -1,126 -9,948 -2,940 -3,131
Issuance of Debt		 6,031 5,437 -3,636 4,560 224 3,526 4,812 1,912 -9,717 -612 1,609
Repayment of Debt		 -90,974 -96,116 -84,610 -89,197 -90,814 -86,571 -85,498 -93,791 -98,726 -92,835 -97,749
Repurchase of Common Equity		 -1,000 -1,930 -372 -2,927 -3,992 -2,285 -1,151 -4,303 -3,326 -3,103 -3,207
Payment of Dividends		 -1,621 -1,769 -1,839 -1,820 -1,819 -1,821 -1,859 -1,842 -1,783 -1,764 -1,727
Other Financing Activities, Net		 88,820 93,179 86,960 88,478 92,326 91,719 93,467 97,398 103,604 95,374 97,943
Effect of Exchange Rate Changes		 -354 -492 -302 - -183 9.00 163 -478 -397 -91 -545
Cash Interest Paid		 1,213 1,178 1,202 1,118 1,130 964 891 914 905 989 1,037
Cash Income Taxes Paid		 748 1,127 672 1,530 1,935 1,099 787 1,102 1,056 1,833 1,600

Quarterly Cash Flow Statements for MetLife

This table details how cash moves in and out of MetLife's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 8,738 -3,765 -6,077 -3,980 14,266 -3,127 -2,544 -3,190 8,290 -3,004 -1,335
Net Cash From Operating Activities		 2,301 2,026 3,038 3,475 5,182 2,328 3,490 4,169 4,611 4,262 2,187
Net Cash From Investing Activities		 -197 -1,504 -6,346 -2,972 576 -2,627 -1,340 -2,162 -5,364 -3,322 -2,981
Net Cash From Continuing Investing Activities		 -197 -1,504 -6,346 -2,972 576 -2,627 -1,340 -2,162 -5,364 -3,322 -2,981
Acquisitions		 -1,725 -1,546 -1,196 -1,474 -1,446 -1,052 -1,209 -522 -1,198 -1,013 -946
Purchase of Investment Securities		 -28,175 -24,822 -25,183 -22,075 -17,084 -19,739 -22,704 -21,965 -23,805 -25,279 -23,023
Sale and/or Maturity of Investments		 28,316 23,907 20,677 20,007 17,923 17,941 22,268 19,585 20,054 21,710 20,253
Other Investing Activities, net		 1,387 957 -644 570 1,183 223 305 740 -415 1,260 735
Net Cash From Financing Activities		 -4,468 -2,295 379 -848 -176 -261 -1,205 -1,146 -519 220 1,449
Net Cash From Continuing Financing Activities		 -4,468 -2,295 379 -848 -176 -261 -1,205 -1,146 -519 220 1,449
Issuance of Debt		 -4,128 -66 -629 111 -28 850 897 -447 309 1,388 541
Repayment of Debt		 -18,933 -27,909 -22,827 -21,915 -20,184 -23,845 -26,462 -24,455 -22,987 -27,739 -25,198
Repurchase of Common Equity		 -596 -780 -672 -792 -859 -1,172 -855 -774 -406 -1,411 -510
Payment of Dividends		 -422 -455 -431 -459 -419 -444 -423 -450 -410 -440 -413
Other Financing Activities, Net		 19,611 26,915 24,938 22,207 21,314 24,350 25,638 24,980 22,975 28,422 27,029
Effect of Exchange Rate Changes		 359 34 -110 -160 145 -239 1.00 118 -425 98 197
Cash Interest Paid		 314 183 289 206 311 231 296 223 287 224 283
Cash Income Taxes Paid		 444 171 945 236 481 130 864 279 327 147 783

Annual Balance Sheets for MetLife

This table presents MetLife's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 902,337 877,933 898,764 719,892 687,538 740,463 795,146 759,708 663,072 687,584 677,457
Cash and Due from Banks		 10,808 12,752 12,651 12,701 15,821 16,598 19,795 20,047 20,195 20,639 20,068
Trading Account Securities		 385,745 369,747 306,380 328,189 312,321 342,264 354,809 353,685 288,132 292,500 292,427
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accrued Investment Income		 4,120 3,988 3,308 3,524 3,582 3,523 17,786 3,185 3,446 3,589 3,489
Mortgage Servicing Rights		 60,118 67,102 65,167 68,731 75,752 80,529 83,919 79,353 83,763 92,506 89,012
Unearned Premiums Asset		 22,244 22,702 15,445 18,423 19,644 20,443 17,870 17,149 17,364 28,971 29,761
Deferred Acquisition Cost		 24,442 24,130 17,590 18,419 18,895 17,833 16,389 16,061 19,653 20,151 19,627
Separate Account Business Assets		 316,994 301,598 195,578 205,001 175,556 188,445 199,970 179,873 146,038 144,634 139,504
Goodwill		 9,872 9,477 9,220 9,590 9,422 9,308 10,112 9,535 9,297 9,236 8,901
Other Assets		 67,994 66,437 273,425 55,314 56,545 61,520 74,496 80,820 75,184 75,358 74,668
Total Liabilities & Shareholders' Equity		 902,337 877,933 898,764 719,892 687,538 740,463 795,146 759,708 663,072 687,584 677,457
Total Liabilities		 829,678 809,437 831,062 661,022 634,580 674,081 720,329 691,959 632,947 657,331 649,754
Short-Term Debt		 35,426 36,971 26,115 26,511 25,503 40,809 29,997 32,261 35,759 17,643 32,679
Long-Term Debt		 23,675 25,356 20,884 19,951 17,036 4,143 18,601 17,855 3,874 19,346 3,640
Future Policy Benefits		 189,586 191,879 166,636 177,974 186,780 194,909 206,656 199,721 187,222 196,406 193,646
Participating Policy Holder Equity		 227,555 219,480 188,515 200,836 201,327 212,499 225,833 223,384 229,408 219,655 240,729
Separate Account Business Liabilities		 316,994 301,598 195,578 205,001 175,556 188,445 199,970 179,873 146,038 144,634 139,504
Other Long-Term Liabilities		 36,442 34,153 233,334 30,749 28,378 33,276 39,272 38,865 30,646 59,647 39,556
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 72,560 68,419 67,702 58,870 52,958 66,382 74,817 67,749 30,125 30,253 27,703
Total Preferred & Common Equity		 72,053 67,949 67,531 58,676 52,741 66,144 74,558 67,482 29,881 30,015 27,445
Preferred Stock		 1.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 72,052 67,949 67,531 58,676 52,741 66,144 74,558 67,482 29,881 30,015 27,445
Common Stock		 30,555 30,761 30,956 31,123 32,486 32,692 33,824 33,523 33,628 33,702 33,803
Retained Earnings		 32,020 35,519 34,683 26,527 28,926 33,078 36,491 41,197 40,332 40,146 42,626
Treasury Stock		 -1,172 -3,102 -3,474 -6,401 -10,393 -12,678 -13,829 -18,157 -21,458 -24,591 -27,798
Accumulated Other Comprehensive Income / (Loss)		 10,649 4,771 5,366 7,427 1,722 13,052 18,072 10,919 -22,621 -19,242 -21,186
Noncontrolling Interest		 507 470 171 194 217 238 259 267 244 238 258

Quarterly Balance Sheets for MetLife

This table presents MetLife's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets		 663,072 674,266 677,279 652,120 687,584 677,576 675,745 704,976 677,457 688,316 702,470
Cash and Due from Banks		 20,195 18,456 15,417 14,912 20,639 19,840 20,786 21,765 20,068 21,326 22,178
Trading Account Securities		 288,132 295,612 294,830 281,404 292,500 289,472 288,596 293,779 292,427 303,207 311,221
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accrued Investment Income		 3,446 3,554 3,505 3,704 3,589 3,636 3,657 13,757 3,489 3,557 3,532
Mortgage Servicing Rights		 83,763 85,572 92,986 92,230 92,506 91,458 89,802 90,415 89,012 87,908 86,868
Unearned Premiums Asset		 17,364 18,692 18,530 19,002 28,971 29,986 31,820 31,443 29,761 31,251 31,503
Deferred Acquisition Cost		 19,653 19,976 19,850 19,737 20,151 19,842 19,568 20,401 19,627 20,162 20,993
Separate Account Business Assets		 146,038 148,417 145,946 135,624 144,634 141,003 139,707 148,809 139,504 138,143 143,175
Goodwill		 9,297 9,379 9,261 9,109 9,236 9,037 8,950 9,155 8,901 9,036 9,142
Other Assets		 75,184 74,608 76,954 76,398 75,358 73,302 72,859 75,452 74,668 73,726 73,858
Total Liabilities & Shareholders' Equity		 663,072 674,266 677,279 652,120 687,584 677,576 675,745 704,976 677,457 688,316 702,470
Total Liabilities		 632,947 641,843 646,787 626,225 657,331 648,780 648,205 673,812 649,754 660,561 674,543
Short-Term Debt		 35,759 34,653 33,545 33,492 17,643 33,569 18,109 17,536 32,679 17,821 32,900
Long-Term Debt		 3,874 3,863 3,835 3,811 19,346 3,752 18,527 18,970 3,640 19,311 4,591
Future Policy Benefits		 187,222 191,741 190,474 181,755 196,406 191,013 190,993 201,340 193,646 197,667 198,965
Participating Policy Holder Equity		 229,408 232,523 234,421 233,979 219,655 239,744 239,287 244,922 240,729 225,979 252,699
Separate Account Business Liabilities		 146,038 148,417 145,946 135,624 144,634 141,003 139,707 148,809 139,504 138,143 143,175
Other Long-Term Liabilities		 30,646 30,646 38,566 37,564 59,647 39,699 41,582 42,235 39,556 61,640 42,213
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 30,125 32,423 30,492 25,895 30,253 28,796 27,540 31,164 27,703 27,755 27,927
Total Preferred & Common Equity		 29,881 32,194 30,261 25,658 30,015 28,535 27,252 30,885 27,445 27,493 27,685
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 29,881 32,194 30,261 25,658 30,015 28,535 27,252 30,885 27,445 27,493 27,685
Common Stock		 33,628 33,629 33,642 33,678 33,702 33,730 33,752 33,778 33,803 33,832 33,834
Retained Earnings		 40,332 39,957 39,928 39,958 40,146 40,350 40,873 41,765 42,626 43,131 43,447
Treasury Stock		 -21,458 -22,245 -22,923 -23,724 -24,591 -25,774 -26,637 -27,418 -27,798 -29,222 -29,737
Accumulated Other Comprehensive Income / (Loss)		 -22,621 -19,147 -20,386 -24,254 -19,242 -19,771 -20,736 -17,240 -21,186 -20,248 -19,859
Noncontrolling Interest		 244 229 231 237 238 261 288 279 258 262 242

Annual Metrics And Ratios for MetLife

This table displays calculated financial ratios and metrics derived from MetLife's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 7.50% -16.33% -0.91% 2.50% 9.04% 2.47% -2.55% 1.26% 5.46% -6.27% 6.18%
EBITDA Growth		 93.65% -41.58% -26.52% -14.02% 80.16% 8.51% 4.73% 23.89% -27.50% -74.39% 211.63%
EBIT Growth		 117.28% -35.81% -24.24% -17.40% 78.37% 7.74% 1.94% 22.97% -25.29% -66.03% 160.04%
NOPAT Growth		 86.94% -35.94% -11.65% 39.52% 2.44% 15.23% -8.31% 26.91% -22.89% -69.79% 177.40%
Net Income Growth		 86.74% -15.01% -84.14% 370.73% 27.56% 15.23% -8.31% 26.91% -22.89% -69.79% 177.40%
EPS Growth		 86.25% -15.01% -84.14% 440.30% 35.64% 23.42% -6.27% 34.68% -17.65% -71.27% 228.18%
Operating Cash Flow Growth		 1.52% -14.19% 5.14% -16.86% -4.44% 17.45% -15.57% 6.08% 5.65% 5.19% 6.39%
Free Cash Flow Firm Growth		 -164.74% 186.02% 294.36% -27.07% 4.09% -166.35% 32.89% 286.49% 329.82% -92.29% 86.11%
Invested Capital Growth		 10.16% -0.71% -12.32% -8.17% -9.34% 16.58% 10.85% -4.50% -40.82% -3.61% -4.79%
Revenue Q/Q Growth		 0.91% -14.83% 4.88% 7.93% -0.26% 2.17% 3.47% -2.43% 0.19% 3.61% -0.82%
EBITDA Q/Q Growth		 11.38% -38.14% 15.43% 14.93% 23.45% -30.93% 0.06% 19.39% 0.15% -52.33% -6.91%
EBIT Q/Q Growth		 10.11% -32.81% 29.26% 23.64% 31.48% -26.96% 2.99% 21.96% 5.43% -33.42% 8.49%
NOPAT Q/Q Growth		 10.69% -32.40% 22.79% 70.39% -4.70% -19.96% -7.35% 24.52% 1.32% -37.64% 17.47%
Net Income Q/Q Growth		 10.67% -10.35% -77.50% 1,314.50% -4.70% -19.96% -7.35% 24.52% 1.32% -37.64% 17.47%
EPS Q/Q Growth		 10.39% -10.35% -77.50% 941.86% -7.53% -22.51% -6.89% 25.41% 3.96% -40.07% 20.24%
Operating Cash Flow Q/Q Growth		 -4.22% -6.03% 8.19% -22.63% -6.00% 39.17% -0.24% -0.50% -17.62% 26.58% -3.76%
Free Cash Flow Firm Q/Q Growth		 -33.78% 177.20% 283.98% -67.69% 0.27% 14.83% 8.19% -13.92% -3.69% -49.66% 1,212.34%
Invested Capital Q/Q Growth		 2.10% -1.83% -21.92% -0.01% -0.32% -3.05% -3.54% -0.98% 1.38% 6.40% -5.39%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 12.15% 8.48% 6.29% 5.28% 8.72% 9.23% 9.92% 12.14% 8.34% 2.28% 6.69%
EBIT Margin		 12.01% 9.21% 7.04% 5.68% 9.28% 9.76% 10.21% 12.40% 8.78% 3.18% 7.80%
Profit (Net Income) Margin		 8.64% 8.78% 1.40% 6.45% 7.55% 8.49% 7.99% 10.01% 7.32% 2.36% 6.16%
Tax Burden Percent		 71.97% 95.29% 19.95% 113.69% 81.31% 86.96% 78.22% 80.72% 83.31% 74.10% 79.05%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 28.00% 28.14% 16.19% -41.57% 18.69% 13.04% 21.78% 19.28% 16.69% 25.90% 20.95%
Return on Invested Capital (ROIC)		 5.04% 3.09% 2.92% 4.55% 5.11% 5.71% 4.62% 5.70% 5.65% 2.34% 6.77%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.04% 5.27% -2.08% 2.44% 5.11% 5.71% 4.62% 5.70% 5.65% 2.34% 6.77%
Return on Net Nonoperating Assets (RNNOA)		 4.30% 4.54% -1.67% 1.80% 4.06% 4.19% 3.06% 3.95% 5.18% 2.97% 8.56%
Return on Equity (ROE)		 9.34% 7.63% 1.25% 6.35% 9.17% 9.90% 7.67% 9.65% 10.83% 5.31% 15.34%
Cash Return on Invested Capital (CROIC)		 -4.62% 3.81% 16.06% 13.07% 14.90% -9.60% -5.68% 10.30% 56.93% 6.01% 11.68%
Operating Return on Assets (OROA)		 0.99% 0.63% 0.48% 0.44% 0.90% 0.95% 0.90% 1.10% 0.89% 0.32% 0.82%
Return on Assets (ROA)		 0.71% 0.61% 0.10% 0.50% 0.73% 0.83% 0.71% 0.88% 0.75% 0.24% 0.65%
Return on Common Equity (ROCE)		 9.20% 7.57% 1.25% 6.33% 9.14% 9.87% 7.65% 9.61% 10.78% 5.26% 15.20%
Return on Equity Simple (ROE_SIMPLE)		 8.79% 7.93% 1.26% 6.85% 9.72% 8.93% 7.27% 10.19% 17.74% 5.34% 16.19%
Net Operating Profit after Tax (NOPAT)		 6,339 4,061 3,588 5,006 5,128 5,909 5,418 6,876 5,302 1,602 4,444
NOPAT Margin		 8.65% 6.62% 5.90% 8.03% 7.55% 8.49% 7.99% 10.01% 7.32% 2.36% 6.16%
Net Nonoperating Expense Percent (NNEP)		 0.01% -2.18% 5.00% 2.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 87.99% 90.79% 92.96% 94.33% 90.72% 90.24% 89.79% 87.60% 91.22% 96.82% 92.20%
Earnings before Interest and Taxes (EBIT)		 8,804 5,651 4,281 3,536 6,307 6,795 6,927 8,518 6,364 2,162 5,622
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 8,906 5,203 3,823 3,287 5,922 6,426 6,730 8,338 6,045 1,548 4,824
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.61 0.58 0.67 0.71 0.63 0.60 0.50 0.71 1.77 1.57 2.05
Price to Tangible Book Value (P/TBV)		 0.71 0.68 0.78 0.85 0.76 0.70 0.58 0.83 2.57 2.27 3.04
Price to Revenue (P/Rev)		 0.60 0.64 0.74 0.67 0.49 0.57 0.55 0.70 0.73 0.69 0.78
Price to Earnings (P/E)		 7.12 7.58 60.58 10.72 6.64 6.94 7.23 7.25 10.38 34.18 13.33
Dividend Yield		 3.42% 4.15% 3.83% 3.70% 4.95% 4.03% 4.36% 3.32% 2.94% 3.23% 2.65%
Earnings Yield		 14.05% 13.20% 1.65% 9.33% 15.06% 14.41% 13.83% 13.80% 9.64% 2.93% 7.50%
Enterprise Value to Invested Capital (EV/IC)		 0.71 0.69 0.70 0.72 0.63 0.61 0.54 0.67 1.04 0.95 1.14
Enterprise Value to Revenue (EV/Rev)		 1.27 1.46 1.31 1.22 0.88 0.98 0.98 1.14 1.00 0.94 1.01
Enterprise Value to EBITDA (EV/EBITDA)		 10.43 17.23 20.87 23.07 10.13 10.63 9.89 9.42 12.01 41.19 15.10
Enterprise Value to EBIT (EV/EBIT)		 10.55 15.86 18.63 21.44 9.51 10.05 9.61 9.22 11.41 29.49 12.96
Enterprise Value to NOPAT (EV/NOPAT)		 14.66 22.07 22.23 15.15 11.70 11.56 12.29 11.42 13.69 39.80 16.39
Enterprise Value to Operating Cash Flow (EV/OCF)		 5.67 6.38 5.40 6.17 5.11 4.95 5.72 6.36 5.56 4.65 4.99
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 17.93 4.05 5.27 4.01 0.00 0.00 6.32 1.36 15.48 9.50
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.81 0.91 0.69 0.79 0.80 0.68 0.65 0.74 1.32 1.22 1.31
Long-Term Debt to Equity		 0.33 0.37 0.31 0.34 0.32 0.06 0.25 0.26 0.13 0.64 0.13
Financial Leverage		 0.85 0.86 0.80 0.74 0.80 0.73 0.66 0.69 0.92 1.27 1.26
Leverage Ratio		 13.18 12.61 13.05 12.79 12.59 11.97 10.88 10.91 14.54 22.37 23.55
Compound Leverage Factor		 13.18 12.61 13.05 12.79 12.59 11.97 10.88 10.91 14.54 22.37 23.55
Debt to Total Capital		 44.86% 47.64% 40.98% 44.11% 44.54% 40.38% 39.38% 42.52% 56.82% 55.01% 56.73%
Short-Term Debt to Total Capital		 26.89% 28.26% 22.77% 25.17% 26.71% 36.65% 24.31% 27.37% 51.26% 26.24% 51.04%
Long-Term Debt to Total Capital		 17.97% 19.38% 18.21% 18.94% 17.84% 3.72% 15.07% 15.15% 5.55% 28.77% 5.69%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.46% 0.42% 0.15% 0.18% 0.23% 0.21% 0.21% 0.23% 0.35% 0.35% 0.40%
Common Equity to Total Capital		 54.68% 51.94% 58.88% 55.71% 55.23% 59.41% 60.41% 57.25% 42.84% 44.64% 42.87%
Debt to EBITDA		 6.64 11.98 12.29 14.14 7.18 7.00 7.22 6.01 6.56 23.89 7.53
Net Debt to EBITDA		 5.42 9.53 8.98 10.27 4.51 4.41 4.28 3.61 3.22 10.56 3.37
Long-Term Debt to EBITDA		 2.66 4.87 5.46 6.07 2.88 0.64 2.76 2.14 0.64 12.50 0.75
Debt to NOPAT		 9.32 15.35 13.10 9.28 8.30 7.61 8.97 7.29 7.48 23.09 8.17
Net Debt to NOPAT		 7.62 12.21 9.57 6.74 5.21 4.80 5.32 4.37 3.67 10.21 3.66
Long-Term Debt to NOPAT		 3.73 6.24 5.82 3.99 3.32 0.70 3.43 2.60 0.73 12.08 0.82
Noncontrolling Interest Sharing Ratio		 1.50% 0.82% 0.53% 0.29% 0.37% 0.38% 0.35% 0.37% 0.52% 0.80% 0.86%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -5,810 4,998 19,710 14,375 14,963 -9,928 -6,663 12,426 53,409 4,118 7,664
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.08 0.07 0.07 0.08 0.10 0.10 0.09 0.09 0.10 0.10 0.11
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 131,760 130,823 114,701 105,332 95,497 111,334 123,415 117,865 69,758 67,242 64,022
Invested Capital Turnover		 0.58 0.47 0.50 0.57 0.68 0.67 0.58 0.57 0.77 0.99 1.10
Increase / (Decrease) in Invested Capital		 12,149 -937 -16,122 -9,369 -9,835 15,837 12,081 -5,550 -48,107 -2,516 -3,220
Enterprise Value (EV)		 92,924 89,626 79,773 75,822 60,008 68,300 66,593 78,544 72,586 63,755 72,843
Market Capitalization		 44,024 39,504 45,254 41,867 33,073 39,708 37,531 48,208 52,904 47,167 56,334
Book Value per Share		 $63.42 $61.13 $61.44 $55.76 $53.44 $71.92 $82.85 $80.22 $38.08 $40.55 $39.64
Tangible Book Value per Share		 $54.73 $52.60 $53.05 $46.65 $43.90 $61.80 $71.61 $68.89 $26.23 $28.07 $26.78
Total Capital		 131,760 130,823 114,701 105,332 95,497 111,334 123,415 117,865 69,758 67,242 64,022
Total Debt		 59,101 62,327 46,999 46,462 42,539 44,952 48,598 50,116 39,633 36,989 36,319
Total Long-Term Debt		 23,675 25,356 20,884 19,951 17,036 4,143 18,601 17,855 3,874 19,346 3,640
Net Debt		 48,293 49,575 34,348 33,761 26,718 28,354 28,803 30,069 19,438 16,350 16,251
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 3.00 -1,324 2,734 986 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 59,101 62,327 46,999 46,462 42,539 44,952 48,598 50,116 39,633 36,989 36,319
Total Depreciation and Amortization (D&A)		 102 -448 -458 -249 -385 -369 -197 -180 -319 -614 -798
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $6.10 $5.72 $7.36 $2.93 $1.82 $5.98
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 0.00 0.00 915.83M 884.40M 825.08M 774.36M 723.02M 681.23M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $6.06 $5.68 $7.31 $2.91 $1.81 $5.94
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 0.00 915.83M 884.40M 825.08M 774.36M 723.02M 681.23M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 0.00 915.83M 884.40M 825.08M 774.36M 723.02M 681.23M
Normalized Net Operating Profit after Tax (NOPAT)		 6,339 4,061 3,588 2,475 5,128 5,909 5,418 5,877 5,302 1,602 4,444
Normalized NOPAT Margin		 8.65% 6.62% 5.90% 3.97% 7.55% 8.49% 7.99% 8.56% 7.32% 2.36% 6.16%
Pre Tax Income Margin		 12.01% 9.21% 7.04% 5.68% 9.28% 9.76% 10.21% 12.40% 8.78% 3.18% 7.80%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 25.58% 32.85% 215.34% 45.27% 35.47% 30.82% 34.31% 26.79% 33.63% 110.11% 38.86%
Augmented Payout Ratio		 41.37% 68.69% 258.90% 118.08% 113.32% 69.49% 55.56% 89.37% 96.36% 303.81% 111.03%

Quarterly Metrics And Ratios for MetLife

This table displays calculated financial ratios and metrics derived from MetLife's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.77% -9.77% 7.43% -28.80% 13.27% 10.20% 7.22% 12.88% -2.96% 10.85% -1.16%
EBITDA Growth		 19.32% -86.72% -56.48% -62.26% -53.55% 306.61% 179.53% 273.41% 46.76% 29.57% -18.47%
EBIT Growth		 19.32% -86.72% -56.48% -62.26% -53.55% 306.61% 179.53% 273.41% 46.76% 29.57% -18.47%
NOPAT Growth		 4.56% -94.81% -55.41% -57.58% -61.16% 929.41% 133.58% 170.91% 107.65% 8.57% -22.88%
Net Income Growth		 4.56% -94.81% -55.41% -57.58% -61.16% 929.41% 133.58% 170.91% 107.65% 8.57% -22.88%
EPS Growth		 13.95% -98.94% -55.56% -59.12% -61.73% 5,400.00% 166.67% 223.21% 133.33% 16.36% -19.53%
Operating Cash Flow Growth		 -54.80% -0.69% -30.84% -19.37% 125.21% 14.91% 14.88% 19.97% -11.02% 83.08% -37.34%
Free Cash Flow Firm Growth		 603.60% 156.22% -71.89% -88.12% -93.70% -82.17% -59.55% -151.27% 43.61% -61.73% -110.91%
Invested Capital Growth		 -40.82% -30.99% -14.04% -8.16% -3.61% -6.80% -5.45% 7.08% -4.79% -1.86% 1.94%
Revenue Q/Q Growth		 -19.93% -14.81% 9.36% -4.55% 27.38% -13.72% 6.40% 0.48% 9.51% -5.32% -5.13%
EBITDA Q/Q Growth		 43.18% -87.31% 67.32% 24.19% 76.22% 11.05% 15.02% 65.89% -30.74% -1.96% -27.62%
EBIT Q/Q Growth		 43.18% -87.31% 67.32% 24.19% 76.22% 11.05% 15.02% 65.89% -30.74% -1.96% -27.62%
NOPAT Q/Q Growth		 35.48% -94.62% 380.00% 21.32% 24.04% 42.51% 8.91% 40.71% -4.92% -25.49% -22.63%
Net Income Q/Q Growth		 35.48% -94.62% 380.00% 21.32% 24.04% 42.51% 8.91% 40.71% -4.92% -25.49% -22.63%
EPS Q/Q Growth		 43.07% -98.98% 2,300.00% 16.67% 33.93% 46.67% 16.36% 41.41% -3.31% -26.86% -19.53%
Operating Cash Flow Q/Q Growth		 -46.61% -11.95% 49.95% 14.38% 49.12% -55.08% 49.91% 19.46% 10.60% -7.57% -48.69%
Free Cash Flow Firm Q/Q Growth		 -3.31% -35.71% -64.02% -46.86% -48.75% 82.01% -18.40% -167.35% 243.56% -51.50% -123.26%
Invested Capital Q/Q Growth		 1.38% 1.69% -4.32% -6.89% 6.40% -1.67% -2.94% 5.44% -5.39% 1.35% 0.82%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 11.36% 1.69% 2.59% 3.37% 4.66% 6.24% 6.74% 11.13% 7.04% 7.29% 5.56%
EBIT Margin		 11.36% 1.69% 2.59% 3.37% 4.66% 6.24% 6.74% 11.13% 7.04% 7.29% 5.56%
Profit (Net Income) Margin		 8.86% 0.56% 2.45% 3.12% 3.04% 5.22% 5.35% 7.49% 6.50% 5.12% 4.17%
Tax Burden Percent		 78.04% 33.07% 94.88% 92.70% 65.25% 83.73% 79.28% 67.25% 92.32% 70.16% 75.00%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 21.96% 66.93% 5.12% 7.30% 34.75% 16.27% 20.72% 32.75% 7.68% 29.84% 25.00%
Return on Invested Capital (ROIC)		 6.84% 0.46% 2.41% 3.10% 3.01% 5.29% 5.72% 8.32% 7.14% 5.77% 4.75%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.84% 0.46% 2.41% 3.10% 3.01% 5.29% 5.72% 8.32% 7.14% 5.77% 4.75%
Return on Net Nonoperating Assets (RNNOA)		 6.27% 0.46% 2.80% 4.88% 3.82% 6.56% 7.30% 10.76% 9.03% 7.60% 6.34%
Return on Equity (ROE)		 13.12% 0.91% 5.20% 7.98% 6.83% 11.85% 13.02% 19.08% 16.17% 13.37% 11.09%
Cash Return on Invested Capital (CROIC)		 56.93% 40.99% 19.51% 12.39% 6.01% 10.53% 10.05% -1.05% 11.68% 8.78% 4.72%
Operating Return on Assets (OROA)		 1.16% 0.17% 0.28% 0.34% 0.47% 0.64% 0.70% 1.19% 0.74% 0.79% 0.60%
Return on Assets (ROA)		 0.90% 0.06% 0.26% 0.31% 0.31% 0.54% 0.56% 0.80% 0.69% 0.55% 0.45%
Return on Common Equity (ROCE)		 13.05% 0.91% 5.17% 7.91% 6.78% 11.76% 12.90% 18.91% 16.04% 13.25% 10.98%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 11.64% 10.71% 10.01% 0.00% 8.38% 10.78% 12.25% 0.00% 16.44% 15.54%
Net Operating Profit after Tax (NOPAT)		 1,581 85 408 495 614 875 953 1,341 1,275 950 735
NOPAT Margin		 8.86% 0.56% 2.45% 3.12% 3.04% 5.22% 5.35% 7.49% 6.50% 5.12% 4.17%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 88.64% 98.31% 97.41% 96.63% 95.34% 93.76% 93.26% 88.87% 92.96% 92.71% 94.44%
Earnings before Interest and Taxes (EBIT)		 2,026 257 430 534 941 1,045 1,202 1,994 1,381 1,354 980
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2,026 257 430 534 941 1,045 1,202 1,994 1,381 1,354 980
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.77 1.33 1.37 1.79 1.57 1.89 1.82 1.87 2.05 1.99 1.94
Price to Tangible Book Value (P/TBV)		 2.57 1.87 1.98 2.77 2.27 2.77 2.71 2.66 3.04 2.96 2.89
Price to Revenue (P/Rev)		 0.73 0.60 0.58 0.70 0.69 0.78 0.70 0.79 0.78 0.74 0.73
Price to Earnings (P/E)		 10.38 12.05 13.71 19.45 34.18 24.93 18.28 16.22 13.33 12.71 13.10
Dividend Yield		 2.94% 3.63% 3.72% 3.35% 3.23% 2.85% 3.02% 2.58% 2.65% 2.72% 2.76%
Earnings Yield		 9.64% 8.30% 7.29% 5.14% 2.93% 4.01% 5.47% 6.16% 7.50% 7.87% 7.64%
Enterprise Value to Invested Capital (EV/IC)		 1.04 0.89 0.94 1.08 0.95 1.09 1.02 1.08 1.14 1.09 1.06
Enterprise Value to Revenue (EV/Rev)		 1.00 0.89 0.89 1.04 0.94 1.03 0.93 1.00 1.01 0.96 0.94
Enterprise Value to EBITDA (EV/EBITDA)		 12.01 13.44 15.45 21.07 41.19 24.32 17.64 14.05 15.10 11.93 12.11
Enterprise Value to EBIT (EV/EBIT)		 11.41 13.44 15.45 21.07 29.49 24.32 17.64 14.05 12.96 11.93 12.11
Enterprise Value to NOPAT (EV/NOPAT)		 13.69 16.80 19.67 26.64 39.80 29.99 22.35 19.24 16.39 15.66 16.07
Enterprise Value to Operating Cash Flow (EV/OCF)		 5.56 4.83 5.46 6.31 4.65 5.12 4.54 4.80 4.99 4.28 4.54
Enterprise Value to Free Cash Flow (EV/FCFF)		 1.36 1.77 4.45 8.36 15.48 9.94 9.90 0.00 9.50 12.31 22.60
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.32 1.19 1.23 1.44 1.22 1.30 1.33 1.17 1.31 1.34 1.34
Long-Term Debt to Equity		 0.13 0.12 0.13 0.15 0.64 0.13 0.67 0.61 0.13 0.70 0.16
Financial Leverage		 0.92 1.00 1.16 1.58 1.27 1.24 1.28 1.29 1.26 1.32 1.34
Leverage Ratio		 14.54 16.14 19.75 25.42 22.37 22.08 23.32 23.78 23.55 24.15 24.85
Compound Leverage Factor		 14.54 16.14 19.75 25.42 22.37 22.08 23.32 23.78 23.55 24.15 24.85
Debt to Total Capital		 56.82% 54.29% 55.07% 59.03% 55.01% 56.45% 57.09% 53.95% 56.73% 57.23% 57.31%
Short-Term Debt to Total Capital		 51.26% 48.85% 49.42% 53.00% 26.24% 50.77% 28.22% 25.91% 51.04% 27.46% 50.29%
Long-Term Debt to Total Capital		 5.55% 5.45% 5.65% 6.03% 28.77% 5.67% 28.87% 28.03% 5.69% 29.76% 7.02%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.35% 0.32% 0.34% 0.38% 0.35% 0.39% 0.45% 0.41% 0.40% 0.40% 0.37%
Common Equity to Total Capital		 42.84% 45.38% 44.59% 40.60% 44.64% 43.16% 42.46% 45.64% 42.87% 42.37% 42.32%
Debt to EBITDA		 6.56 8.22 9.06 11.49 23.89 12.65 9.84 7.04 7.53 6.26 6.57
Net Debt to EBITDA		 3.22 4.28 5.32 6.90 10.56 5.93 4.26 2.84 3.37 2.67 2.68
Long-Term Debt to EBITDA		 0.64 0.82 0.93 1.17 12.50 1.27 4.98 3.66 0.75 3.26 0.80
Debt to NOPAT		 7.48 10.28 11.53 14.52 23.09 15.60 12.47 9.65 8.17 8.22 8.72
Net Debt to NOPAT		 3.67 5.35 6.78 8.72 10.21 7.31 5.40 3.90 3.66 3.50 3.56
Long-Term Debt to NOPAT		 0.73 1.03 1.18 1.48 12.08 1.57 6.31 5.01 0.82 4.27 1.07
Noncontrolling Interest Sharing Ratio		 0.52% 0.58% 0.73% 0.96% 0.80% 0.80% 0.89% 0.90% 0.86% 0.92% 0.96%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 49,688 31,945 11,493 6,107 3,130 5,697 4,649 -3,131 4,495 2,180 -507
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.10 0.10 0.11 0.10 0.10 0.10 0.10 0.11 0.11 0.11 0.11
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 69,758 70,939 67,872 63,198 67,242 66,117 64,176 67,670 64,022 64,887 65,418
Invested Capital Turnover		 0.77 0.82 0.98 0.99 0.99 1.01 1.07 1.11 1.10 1.13 1.14
Increase / (Decrease) in Invested Capital		 -48,107 -31,860 -11,085 -5,612 -2,516 -4,822 -3,696 4,472 -3,220 -1,230 1,242
Enterprise Value (EV)		 72,586 62,959 63,762 68,428 63,755 71,737 65,651 72,783 72,843 70,764 69,131
Market Capitalization		 52,904 42,670 41,568 45,800 47,167 53,995 49,513 57,763 56,334 54,696 53,576
Book Value per Share		 $38.08 $41.57 $39.51 $34.12 $40.55 $40.13 $38.32 $44.10 $39.64 $40.36 $41.24
Tangible Book Value per Share		 $26.23 $29.46 $27.42 $22.01 $28.07 $27.42 $25.74 $31.03 $26.78 $27.09 $27.62
Total Capital		 69,758 70,939 67,872 63,198 67,242 66,117 64,176 67,670 64,022 64,887 65,418
Total Debt		 39,633 38,516 37,380 37,303 36,989 37,321 36,636 36,506 36,319 37,132 37,491
Total Long-Term Debt		 3,874 3,863 3,835 3,811 19,346 3,752 18,527 18,970 3,640 19,311 4,591
Net Debt		 19,438 20,060 21,963 22,391 16,350 17,481 15,850 14,741 16,251 15,806 15,313
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 39,633 38,516 37,380 37,303 36,989 37,321 36,636 36,506 36,319 37,132 37,491
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.97 $0.02 $0.48 $0.56 $0.76 $1.11 $1.28 $1.82 $1.77 $1.29 $1.04
Adjusted Weighted Average Basic Shares Outstanding		 774.36M 765.82M 752.02M 740.19M 723.02M 711.12M 700.32M 692.42M 681.23M 671.30M 665.03M
Adjusted Diluted Earnings per Share		 $1.96 $0.02 $0.48 $0.56 $0.75 $1.10 $1.28 $1.81 $1.75 $1.28 $1.03
Adjusted Weighted Average Diluted Shares Outstanding		 774.36M 765.82M 752.02M 740.19M 723.02M 711.12M 700.32M 692.42M 681.23M 671.30M 665.03M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 774.36M 765.82M 752.02M 740.19M 723.02M 711.12M 700.32M 692.42M 681.23M 671.30M 665.03M
Normalized Net Operating Profit after Tax (NOPAT)		 1,581 180 -367 -243 614 875 809 1,341 1,275 1,160 735
Normalized NOPAT Margin		 8.86% 1.18% -2.21% -1.53% 3.04% 5.22% 4.54% 7.49% 6.50% 6.25% 4.17%
Pre Tax Income Margin		 11.36% 1.69% 2.59% 3.37% 4.66% 6.24% 6.74% 11.13% 7.04% 7.29% 5.56%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 33.63% 47.44% 54.67% 68.78% 110.11% 73.29% 59.41% 45.89% 38.86% 38.13% 39.83%
Augmented Payout Ratio		 96.36% 131.91% 138.66% 179.33% 303.81% 219.40% 184.64% 142.64% 111.03% 114.38% 111.93%

Key Financial Trends

Over the last four years, MetLife (NYSE: MET) has demonstrated steady financial performance with several noteworthy trends from its quarterly financials through Q2 2025:

  • Consistent positive net income: Quarterly net income attributable to common shareholders ranged from $14 million in Q1 2023 to $1.239 billion in Q4 2024, showing resilience and growth in earnings over time.
  • Solid pre-tax income growth: Total pre-tax income rose largely from $257 million in Q1 2023 to $1.381 billion by Q4 2024, indicating improved profitability.
  • Robust non-interest income: Premiums earned and capital gains contributed significantly to total revenue, with Q2 2025 total revenue at $17.6 billion, reflecting a business mix less dependent on net interest income.
  • Operating cash flow remains healthy: Net cash from operating activities was $2.187 billion in Q2 2025 and has generally been positive, supporting operations and investments.
  • Controlled debt issuance and repayments: MetLife actively manages its debt with significant repayments (e.g., $25.2 billion in Q2 2025) outweighing issuances, potentially reducing leverage and interest burden.
  • Stable asset base: Total assets grew moderately from approximately $650 billion in Q3 2022 to about $702 billion in Q2 2025, indicating steady business size without excessive volatility.
  • Equity levels maintained: Total common equity and total equity showed slight fluctuations, currently around $27.7 billion, providing a buffer for the balance sheet strength.
  • Mortgage servicing rights and participating policyholder equity remain significant components of assets and liabilities, which aligns with MetLife’s insurance operations but can have valuation fluctuations due to market factors.
  • Investment securities purchase outweigh sales: In Q2 2025, purchases of investment securities ($23 billion) exceeded sales ($20.3 billion), representing significant outflows and investment risks amid uncertain markets.
  • Repurchase of common equity and dividend payments: MetLife has substantial outflows related to buybacks and dividends (e.g., $510 million and $413 million respectively in Q2 2025), which may impact liquidity.

Summary: MetLife shows strong earnings growth and positive operating cash flows alongside active capital management through debt repayment and shareholder returns. However, the company faces challenges related to sizable investment activities and equity repurchases which might affect short-term cash positions. Overall, the financial health appears stable with potential for gradual growth, suitable for investors focusing on established insurers with balanced risk management.

08/09/25 03:30 PMAI Generated. May Contain Errors.

Frequently Asked Questions About MetLife's Financials

When does MetLife's financial year end?

According to the most recent income statement we have on file, MetLife's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has MetLife's net income changed over the last 10 years?
The last 5 years of MetLife's net income performance:
  • 2020: $5.42 billion
  • 2021: $6.88 billion
  • 2022: $5.30 billion
  • 2023: $1.60 billion
  • 2024: $4.44 billion
Find out what analysts predict for MetLife in the coming months.
How has MetLife's revenue changed over the last 10 years?

Over the last 10 years, MetLife's total revenue changed from $73.32 billion in 2014 to $72.10 billion in 2024, a change of -1.7%.

How much debt does MetLife have?

MetLife's total liabilities were at $649.75 billion at the end of 2024, a 1.2% decrease from 2023, and a 21.7% decrease since 2014.

How much cash does MetLife have?

In the past 10 years, MetLife's cash and equivalents has ranged from $10.81 billion in 2014 to $20.64 billion in 2023, and is currently $20.07 billion as of their latest financial filing in 2024.

How has MetLife's book value per share changed over the last 10 years?

Over the last 10 years, MetLife's book value per share changed from 63.42 in 2014 to 39.64 in 2024, a change of -37.5%.


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This page (NYSE:MET) was last updated on 8/9/2025 by MarketBeat.com Staff
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