MetLife (MET)
Financials · $60.6B market cap · SEC CIK 0001099219
fundamentals score out of 100
Next reports on Nov 3, 2026, after the close, with analysts expecting $2.60 in earnings per share.
The case for MET
- Revenue growing 8.4% year over year.
- Pays a 3.3% dividend while you wait.
- Reasonably priced at 16.7× earnings.
- Price/sales of 0.8× is lower than 97% of Financials companies.
The case against
- Earnings per share fell 11.0%.
- Net margin of 5% is thinner than 94% of Financials companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 65 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 23 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 29 |
| Momentumhow the price has behaved lately | 78 |
| Stabilityhow violently it moves, what it owes and what it pays you | 72 |
- Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
- Each factor except momentum is half fixed thresholds, half rank among the 74 Financials companies.
Key numbers
| Price / earnings | 16.7× |
|---|---|
| Price / book | 1.98× |
| Price / sales | 0.8× |
| Revenue growth (YoY) | +8.4% |
| EPS growth (YoY) | -11.0% |
| Gross margin | — |
| Operating margin | 7% |
| Net margin | 5% |
| Return on equity | 13% |
| Debt / equity | 0.72× |
| Current ratio | 0.04 |
| Dividend yield | 3.27% |
| Beta | 0.80 |
| 52-week range | $67.33 – $100.93 |
| Position in that range | 85% of the way up |
| 3-month return | +12.9% |
| 1-year return | +22.1% |
Five years of financials, as filed
Pulled from MetLife's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $2.4B | $2.2B | $2.2B | $2.1B | $2.1B |
| Operating income | $6.1B | $6.0B | $5.7B | $6.0B | — |
| Net income | $3.2B | $4.2B | $1.4B | $2.4B | $6.4B |
| Operating cash flow | $17.1B | $14.6B | $13.7B | $13.0B | $12.3B |
| Total assets | $745B | $677B | $688B | $663B | $760B |
| Total liabilities | $716B | $650B | $657B | $633B | $692B |
| Shareholder equity | $28.4B | $27.4B | $30.0B | $29.9B | $67.5B |
| Cash | $22.0B | $20.1B | $20.6B | $20.2B | $20.0B |
| Operating margin | 251.9% | 267.1% | 256.8% | 283.3% | — |
| Net margin | 130.3% | 188.2% | 61.9% | 111.6% | 306.3% |
| Diluted shares | 673M | 711M | 762M | 809M | 869M |
Share count is down 22.6% over 4 years. Buybacks have been shrinking the pie.
What MetLife says it does
Index to Business Page Business Overview & Strategy 5 Segments and Corporate & Other 6 Policyholder Liabilities 10 Underwriting and Pricing 11 Reinsurance Activity 12 Regulation 12 Competition 23 Human Capital Resources 24 Information About Our Executive Officers 25 Trademarks 26 Available Information 26 4 Table of Contents Business Overview & Strategy As used in this Form 10-K, "MetLife," the "Company," "we," "our" and "us" refer to MetLife, Inc., a Delaware corporation incorporated in 1999, its subsidiaries and affiliates. MetLife is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management. We hold leading market positions in the United States ("U.S."), Asia, Latin America, Europe and the Middle East. We are also one of the largest institutional investors in the U.S. with a general account portfolio invested primarily in fixed income securities (corporate,…
Risk factors MET lists in its 10-K
- Economic Environment and Capital Markets Risks
- We May Face Difficult Economic Conditions
- Political, Obligor and Counterparty Risks
- We May Not Meet Our Liquidity Needs, Access Capital, or May Face Significantly Increased Cost of Capital Due to Adverse Capital and Credit Market Conditions
- We May Be Unable to Access Our Credit Facility, Reducing Our Liquidity and Leading to Downgrades in Our Credit and Financial Strength Ratings
- We May Lose Business Due to a Downgrade or a Potential Downgrade in Our Financial Strength or Credit Ratings
- We May Not Find Available, Affordable or Adequate Reinsurance to Protect Us Against Losses
- Our Statutory Life Insurance Reserve Financings Costs May Increase, and We May Find Limited Market Capacity for New Financings
- Changes in Laws or Regulation, or in Supervisory and Enforcement Policies, May Reduce Our Profitability, Limit Our Growth, or Otherwise Adversely Affect Us
- Governments or Others May Increase our Taxes by Changing or Re-Interpreting Tax Laws, Making Some of Our Products Less Attractive to Consumers
- We May Face Increasing Litigation and Regulatory Investigations
- Our Efforts to Enhance the Sustainability of our Businesses May Not Meet Investors', Regulators' or Customers' Expectations
- We May Not be Able to Pay Dividends or Repurchase Our Stock Due to Legal and Regulatory Restrictions or Cash Buffer Needs
- Our Subsidiaries May be Unable to Pay Dividends, a Major Component of Holding Company Free Cash Flow