MetLife (MET) Financials

$81.41 +0.61 (+0.75%)

Closing price 03:59 PM Eastern

Extended Trading

$80.28 -1.12 (-1.38%)

As of 06:04 PM Eastern

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

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

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

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

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

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

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%

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

MetLife's recent financial performance over the past four years through Q2 2025 shows a mix of steady revenue generation, consistent dividend payments, and ongoing capital management amidst fluctuating investment activities and liabilities.

Key positive trends include:

Consistent net income growth from $614 million in Q4 2023 to $735 million in Q2 2025, showing resilience and profitability improvement.
Strong total revenues with total non-interest income contributing significantly, reaching $17.6 billion in Q2 2025.
Regular payment of dividends around $0.52–$0.55 per share quarterly, reflecting a stable shareholder return policy.
Substantial net cash from operating activities consistently positive, with $2.19 billion generated in Q2 2025, indicating robust core business cash flow.
Continuing financing activities yielding net positive cash inflows of $1.45 billion in Q2 2025, suggesting financial flexibility.

Neutral observations:

No reported net interest income; MetLife reports zero interest income and expense, implying a business mix largely driven by fee-based and investment-related income rather than traditional banking interest.
Large swings in purchases and sales of investment securities influence cash flows considerably but align with an asset-heavy insurance company's investment management operations.
Stable total assets hovering between $650 billion and $700 billion, reflecting MetLife's scale and presence in the insurance sector.
Consistent common equity levels around $27-31 billion over recent quarters, showing equity base stability.

Areas of caution or challenges:

Significant repayments of debt outpacing issuances in several quarters, e.g., $25.2 billion repayment vs. only $541 million issuance in Q2 2025, signaling debt reduction but also potential liquidity use.
Growth in other long-term liabilities from about $27.7 billion in Q3 2022 to over $42 billion in Q2 2025, suggesting rising obligations that may need monitoring.
Investment purchases exceeding sales in multiple periods, leading to negative net cash from investing activities, which could impact free cash flow if investment returns falter.
Decrease in diluted EPS from $1.82 in Q3 2024 to $1.03 in Q2 2025, reflecting margin pressure or higher costs that investors should watch.
Accumulated other comprehensive income/loss remains negative (-$19.9 billion in Q2 2025), indicating some unrealized losses or volatility affecting equity valuation.

Overall, MetLife is maintaining solid revenue streams and operating cash flows, consistently returning value to shareholders, while managing a large portfolio of investment securities and liabilities inherent in the insurance business. Investors should monitor debt servicing trends and earnings per share fluctuations for future outlook adjustments.

08/29/25 10:06 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About MetLife's Financials

When does MetLife's fiscal year end?

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

How has MetLife's net income changed over the last 10 years?

MetLife's net income were at $4.44 billion at the end of 2024, a 177.4% increase from 2023, and a 29.9% decrease since 2014. See MetLife's forecast for analyst expectations on what’s next for the company.

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%.

Related Companies

This page (NYSE:MET) was last updated on 8/29/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

MetLife (MET) Financials

Key Financial Trends

Financials Breakdown Chart

Frequently Asked Questions About MetLife's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

MetLife (MET) Financials

Annual Income Statements for MetLife

Quarterly Income Statements for MetLife

Annual Cash Flow Statements for MetLife

Quarterly Cash Flow Statements for MetLife

Annual Balance Sheets for MetLife

Quarterly Balance Sheets for MetLife

Annual Metrics And Ratios for MetLife

Quarterly Metrics And Ratios for MetLife

Key Financial Trends

Financials Breakdown Chart

Frequently Asked Questions About MetLife's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools