A Business at a Glance
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Index to Business Business Overview & Strategy Segments and Corporate & Other Policyholder Liabilities Underwriting and Pricing Reinsurance Activity Human Capital Resources Information About Our Executive Officers Available Information 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.
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Prepaid legal plans | $432M | $471M | $516M | $572M | $637M | 33% |
Vision fee for service arrangements | $546M | $566M | $598M | $536M | $561M | 29% |
Other revenue from service contracts from customers | $289M | $271M | $390M | $412M | $432M | 22% |
ASO contracts | — | $238M | $259M | $273M | $295M | 15% |
Fee-based investment management | $363M | $396M | $408M | $394M | — | — |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 77.1B | 77.1B | 71.0B | 66.9B | 68.8B | 68.7B |
| Net Income | 3.2B | 3.2B | 4.2B | 1.4B | 5.1B | 6.7B |
| EPS | $4.71 | $4.71 | $5.94 | $1.81 | $6.30 | $7.65 |
| Free Cash Flow | 16.5B | 16.5B | 13.6B | 12.7B | 11.8B | 11.0B |
| ROIC | 20.7% | 7.4% | 9.9% | 3.0% | 11.5% | 7.5% |
| Gross Margin | 6.0% | 6.0% | 7.9% | 3.2% | 9.3% | 12.4% |
| Debt/Equity | 0.52 | 0.52 | 0.57 | 0.52 | 0.50 | 0.19 |
| Dividends/Share | $2.24 | $2.25 | $2.16 | $2.06 | $1.98 | $1.90 |
| Operating Income | 6.1B | 6.1B | 6.0B | 2.2B | 6.4B | 8.5B |
| Operating Margin | 8.0% | 8.0% | 8.4% | 3.2% | 9.3% | 12.4% |
| ROE | 11.2% | 11.4% | 15.4% | 4.6% | 17.1% | 8.9% |
| Shares Outstanding | 674M | 674M | 711M | 762M | 809M | 870M |
METLIFE INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
METLIFE INC trades at 16.0x trailing earnings, compared to its 15-year median P/E of 10.5x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 3.0x vs a median of 3.6x. The company's 5-year average ROIC is 7.9% with a gross margin of 7.8%. Total shareholder yield (dividends + buybacks) is 8.7%. At current prices, the estimated annualized return to fair value is +11.0%.
METLIFE INC (MET) has a current P/E ratio of 16.0, compared to its historical median P/E of 10.5. The stock is currently considered Fair based on its historical valuation range.
METLIFE INC (MET) has a 5-year average return on invested capital (ROIC) of 7.9%. This is below average and may indicate limited pricing power.
METLIFE INC (MET) has a market capitalization of $50.8B. It is classified as a large-cap stock.
Yes, METLIFE INC (MET) pays a dividend with a trailing twelve-month yield of 2.97%. The company also returns capital through share buybacks, with a buyback yield of 5.68%.
Based on historical P/E analysis, METLIFE INC (MET) appears fair. The current P/E of 16.0 is 53% above its historical median of 10.5. The estimated fair value CAGR (P/E method) is -6.5%.
METLIFE INC (MET) operates in the Life Insurance industry, within the Financials sector.
METLIFE INC (MET) reported annual revenue of $77.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
METLIFE INC (MET) has a net profit margin of 4.1%. This is a modest margin.
METLIFE INC (MET) generated $16.5 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
METLIFE INC (MET) has a debt-to-equity ratio of 0.52. This indicates moderate leverage.
METLIFE INC (MET) reported earnings per share (EPS) of $4.71 in its most recent fiscal year.
METLIFE INC (MET) has a return on equity (ROE) of 11.4%. This indicates moderate shareholder returns.
METLIFE INC (MET) has a 5-year average gross margin of 7.8%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for METLIFE INC (MET), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
METLIFE INC (MET) has a book value per share of $42.15, based on its most recent annual SEC filing.