Overview
METLIFE INC
Latest 10-K: FY2025, filed Feb 19, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $77.08B
- 8.6%YoYup from FY2024
- TotalRevenue
- Gross profit
- Not reported
- Operating income
- $6.14B
- 2.4%YoYup from FY2024
- OperatingIncome
- Net income
- $3.38B
- 23.7%YoYdown from FY2024
- NetIncome
- Diluted EPS
- $4.71
- 20.7%YoYdown from FY2024
- EPSDiluted
- Diluted shares
- 673.3M
- 5.3%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- METLIFE INC reported revenue of $77.08B for fiscal 2025, up 8.6% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 2 of the last 5 fiscal years.
Profitability
- Operating margin was 8.0% and net margin was 4.4%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $4.71, down 20.7% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $77.08B8.6%up Benchmark median 6.4% | $70.99B6.1%up Benchmark median 4.5% | $66.91B2.7%down Benchmark median 4.8% | $68.77B0.1%up Benchmark median 10.3% | $68.70B1.3%up Benchmark median 13.8% | 2.9% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | — | — | — | — | — | — Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $6.14B2.4%up Benchmark median 7.3% | $6.00B4.8%up Benchmark median 7.4% | $5.72B4.3%down Benchmark median 4.9% | $5.98B Benchmark median 7.5% | — | — Benchmark median 7.2% |
| Net Income | $3.38B23.7%down Benchmark median 4.8% | $4.43B180.5%up Benchmark median 5.7% | $1.58B70.1%down Benchmark median 1.9% | $5.28B22.9%down Benchmark median 1.3% | $6.86B26.8%up Benchmark median 33.9% | -16.2% Benchmark median 4.1% |
| EPS (Diluted) | $4.7120.7%down Benchmark median 6.2% | $5.94228.2%up Benchmark median 7.9% | $1.8171.3%down Benchmark median 1.9% | $6.3017.6%down Benchmark median 1.5% | $7.6534.7%up Benchmark median 34.8% | -11.4% Benchmark median 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $745.17B10.0%up Benchmark median 5.6% | $677.46B1.5%down Benchmark median 3.4% | $687.58B3.7%up Benchmark median 4.1% | $663.07B12.7%down Benchmark median 2.2% | $759.71B4.5%down Benchmark median 6.7% | -0.5% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $716.25B10.2%up Benchmark median 6.4% | $649.75B1.2%down Benchmark median 1.9% | $657.33B3.9%up Benchmark median 2.9% | $632.95B8.5%down Benchmark median 2.0% | $691.96B3.9%down Benchmark median 5.2% | 0.9% Benchmark median 4.4% |
| Stockholders' Equity | $28.68B3.5%up Benchmark median 6.8% | $27.70B8.4%down Benchmark median 5.4% | $30.25B0.4%up Benchmark median 7.3% | $30.13B55.4%down Benchmark median 2.5% | $67.48B9.8%down Benchmark median 9.0% | -19.3% Benchmark median 6.1% |
| Cash & Equivalents | $22.03B9.8%up Benchmark median 5.2% | $20.07B2.8%down Benchmark median 1.9% | $20.64B2.2%up Benchmark median 6.7% | $20.20B0.7%up Benchmark median -8.6% | $20.05B1.3%up Benchmark median -2.9% | 2.4% Benchmark median 2.0% |
| Total Debt | $14.47B4.1%down Benchmark median 2.1% | $15.09B3.0%down Benchmark median 0.2% | $15.55B6.2%up Benchmark median 0.3% | $14.65B5.1%up Benchmark median 0.1% | $13.93B4.6%down Benchmark median -0.1% | 0.9% Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $17.09B17.1%up Benchmark median 6.3% | $14.60B6.4%up Benchmark median 4.8% | $13.72B5.2%up Benchmark median 9.9% | $13.04B5.6%up Benchmark median -0.7% | $12.35B6.1%up Benchmark median 10.7% | 8.5% Benchmark median 7.0% |
| Capital Expenditures | — | — | — | — | — | — Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | — | — | — | — | — | — Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
6.0%
Wall Street
on net earnings
FY2024 7.3%
— Not reported
Value investor
on free cash flow
FY2024 — Not reported
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 16.8×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
14.9%
Wall Street
on EBITDA
FY2024 12.7%
14.6%
Value investor
on EBIT
FY2024 12.5%
Gap −0.3 pts: Value-investor figure 0.3 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 6.7×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
54.0%
Wall Street
on book equity
FY2024 47.6%
35.9%
Value investor
on tangible book
FY2024 32.3%
Gap −18.1 pts: Value-investor figure 18.1 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 1.9×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
12.0%
Wall Street
ROE: net income ÷ equity
FY2024 15.3%
0.6%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 0.7%
Gap −11.4 pts: Value-investor figure 11.4 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
8.1%
Wall Street
EBITDA margin
FY2024 8.6%
— Not reported
Value investor
Free-cash-flow margin
FY2024 — Not reported
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Debt cover
How many times one year of earnings repays all debt
0.43×
Wall Street
EBITDA ÷ total debt
FY2024 0.41×
— Not reported
Value investor
FCF ÷ total debt
FY2024 — Not reported
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net cashValue investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Balance sheet · Interest cover
How many times earnings pay the year's interest
8.6×
Wall Street
EBITDA ÷ interest
FY2024 8.3×
8.5×
Value investor
EBIT ÷ interest
FY2024 8.1×
Gap −0.1×: Value-investor figure 0.1 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on MET yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on MET and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/MET
Valuein. (2026, October 31). METLIFE INC (MET) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/MET
@misc{valuein_met_2026,
author = {{Valuein}},
title = {METLIFE INC (MET) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/MET}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 19, 2026 · accession 0001099219-26-000013
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