MetLife (MET) | Financial Analysis & Statements
MetLife Inc. Large-cap Financial Services
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
23.3B
Net Income
816.0M
3.50%
EPS (Diluted)
$1.17
Balance Sheet Metrics
Total Assets
745.2B
Total Liabilities
716.2B
Shareholders Equity
28.9B
Debt to Equity
24.77
Cash Flow Metrics
Free Cash Flow
7.1B
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
MetLife Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 75.7B | 69.9B | 66.4B | 67.8B | 63.7B |
| Cost of Goods Sold | - | - | - | - | - |
| Gross Profit | - | - | - | - | - |
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating Expenses | |||||
| Research & Development | - | - | - | - | - |
| Selling, General & Administrative | 6.3B | 6.0B | 6.2B | 5.9B | 5.8B |
| Other Operating Expenses | 931.0M | 825.0M | 660.0M | 608.0M | 629.0M |
| Total Operating Expenses | 7.2B | 6.8B | 6.8B | 6.5B | 6.4B |
| Operating Income | - | - | - | - | - |
| Operating Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Non-Operating Items | |||||
| Interest Income | - | - | - | - | - |
| Interest Expense | 1.1B | 1.0B | 1.0B | 938.0M | 920.0M |
| Other Non-Operating Income | 775.0M | 356.0M | 297.0M | 520.0M | 545.0M |
| Pre-tax Income | 4.7B | 5.6B | 2.2B | 6.4B | 8.5B |
| Income Tax | 1.3B | 1.2B | 560.0M | 1.1B | 1.6B |
| Effective Tax Rate % | 27.0% | 21.0% | 25.9% | 16.7% | 19.3% |
| Net Income | 3.4B | 4.4B | 1.6B | 5.3B | 6.9B |
| Net Margin % | 4.5% | 6.4% | 2.4% | 7.8% | 10.8% |
| Key Metrics | |||||
| EBITDA | - | - | - | - | - |
| EPS (Basic) | $4.84 | $6.13 | $1.81 | $3.02 | $7.70 |
| EPS (Diluted) | $4.84 | $6.13 | $1.81 | $2.91 | $7.70 |
| Basic Shares Outstanding | 655333773 | 689211065 | 762430939 | 779098414 | 825540267 |
| Diluted Shares Outstanding | 655333773 | 689211065 | 762430939 | 779098414 | 825540267 |
Income Statement Trend
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MetLife Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 22.0B | 20.1B | 20.6B | 20.2B | 20.0B |
| Short-term Investments | 96.3B | 80.5B | 287.5B | 281.7B | 347.4B |
| Accounts Receivable | 49.1B | 29.8B | 29.0B | 17.4B | 17.1B |
| Inventory | - | - | - | - | - |
| Other Current Assets | - | - | - | - | - |
| Total Current Assets | - | - | - | - | - |
| Non-Current Assets | |||||
| Property, Plant & Equipment | - | - | - | - | - |
| Goodwill | 19.2B | 17.8B | 18.5B | 18.6B | 19.1B |
| Intangible Assets | - | - | - | - | - |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | - | - | - | - | - |
| Total Non-Current Assets | - | - | - | - | - |
| Total Assets | 745.2B | 677.5B | - | - | - |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | - | - | - | - | - |
| Short-term Debt | 1.6B | 465.0M | 119.0M | 175.0M | 341.0M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | - | - | - | - |
| Total Current Liabilities | - | - | - | - | - |
| Non-Current Liabilities | |||||
| Long-term Debt | 18.6B | 18.2B | 18.7B | 17.8B | 17.1B |
| Deferred Tax Liabilities | 536.0M | 132.0M | 927.0M | 950.0M | 9.7B |
| Other Non-Current Liabilities | - | - | - | - | - |
| Total Non-Current Liabilities | - | - | - | - | - |
| Total Liabilities | 716.2B | 649.8B | - | - | - |
| Equity | |||||
| Common Stock | 12.0M | 12.0M | 12.0M | 12.0M | 12.0M |
| Retained Earnings | 44.3B | 42.6B | 40.1B | 40.3B | 41.2B |
| Treasury Stock | 30.7B | 27.8B | 24.6B | 21.5B | 18.2B |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 28.9B | 27.7B | 30.3B | 30.1B | 67.7B |
| Key Metrics | |||||
| Total Debt | 20.2B | 18.7B | 18.8B | 18.0B | 17.4B |
| Working Capital | 0 | 0 | 0 | 0 | 0 |
Balance Sheet Composition
MetLife Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 3.4B | 4.4B | 1.6B | 5.3B | 6.9B |
| Depreciation & Amortization | - | - | - | - | - |
| Stock-Based Compensation | - | - | - | - | - |
| Working Capital Changes | -537.0M | -1.9B | -2.3B | -681.0M | -792.0M |
| Operating Cash Flow | -873.0M | -1.1B | -4.6B | 897.0M | 2.5B |
| Investing Activities | |||||
| Capital Expenditures | - | - | - | - | - |
| Acquisitions | -1.4B | -358.0M | -755.0M | -709.0M | 820.0M |
| Investment Purchases | -97.1B | -82.1B | -84.3B | -104.6B | -130.2B |
| Investment Sales | 79.2B | 69.9B | 76.1B | 108.4B | 113.9B |
| Investing Cash Flow | -19.3B | -12.7B | -9.1B | 3.0B | -15.5B |
| Financing Activities | |||||
| Share Repurchases | -3.9B | -3.2B | -3.1B | -3.3B | -4.8B |
| Dividends Paid | -1.7B | -1.7B | -1.8B | -1.8B | -1.8B |
| Debt Issuance | 2.2B | 1.9B | 2.7B | 1.0B | 29.0M |
| Debt Repayment | -2.6B | -2.7B | -1.9B | -85.0M | -582.0M |
| Financing Cash Flow | 188.0M | -2.9B | 343.0M | 782.0M | -3.0B |
| Free Cash Flow | 17.1B | 14.6B | 13.7B | 13.0B | 12.3B |
| Net Change in Cash | -20.0B | -16.7B | -13.3B | 4.7B | -16.0B |
Cash Flow Trend
MetLife Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
16.15
Forward P/E
6.95
Price to Book
1.76
Price to Sales
0.64
PEG Ratio
-0.48
Profitability Ratios
Profit Margin
4.38%
Operating Margin
4.67%
Return on Equity
12.02%
Return on Assets
0.46%
Financial Health
Current Ratio
1.90
Debt to Equity
225.97
Beta
0.73
Per Share Data
EPS (TTM)
$4.71
Book Value per Share
$43.33
Revenue per Share
$115.23
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| MET | 49.6B | 16.15 | 1.76 | 12.02% | 4.38% | 225.97 |
| Manulife Financial | 64.6B | 17.18 | 1.86 | 11.49% | 18.67% | 48.35 |
| Aflac | 59.1B | 16.88 | 2.02 | 13.12% | 21.24% | 42.68 |
| Prudential | 35.7B | 10.18 | 1.09 | 11.36% | 5.84% | 124.48 |
| Unum | 12.5B | 18.23 | 1.15 | 6.69% | 5.65% | 37.01 |
| Globe Life | 12.1B | 10.75 | 2.00 | 20.59% | 19.37% | 52.35 |
Financial data is updated regularly. All figures are in the company's reporting currency.






