MetLife Financials
MetLife (MET) reported $77.1B in revenue for fiscal year 2025, up 8.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
MetLife's core mechanic is thin asset-level profitability amplified by a very large liability base and dependable cash generation.
From FY2023 to FY2025, operating income stayed in a narrow band, moving from$5.7B to$6.1B . Yet operating cash flow reached$17.1B in FY2025 while net income remained below the FY2024 level, which points to earnings volatility below the operating line rather than a weakening core cash engine; the cash statement looks steadier than the income statement.
Leverage remains the main amplifier of shareholder results: debt-to-equity was 25.2x in FY2025 while return on assets was only
Capital return is changing the per-share math: shares outstanding fell from 723.0M in FY2023 to 652.1M in FY2025 as buybacks stayed in the multi-billion range. That is why dividends paid held near
Financial Health Signals
Scored against insurers for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of MetLife's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for MetLife, and counted as zero in the overall score.
Not available for MetLife, and counted as zero in the overall score.
MetLife passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, MetLife generates $5.39 in operating cash flow ($17.1B OCF vs $3.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
MetLife earns $8.48 in operating income for every $1 of interest expense ($6.1B vs $724.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
MetLife generated $77.1B in revenue in fiscal year 2025. This represents an increase of 8.6% from the prior year.
MetLife's EBITDA was $6.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 2.1% from the prior year.
MetLife reported $3.2B in net income in fiscal year 2025. This represents a decrease of 24.9% from the prior year.
MetLife earned $4.71 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 20.7% from the prior year.
Cash & Balance Sheet
MetLife held $22.0B in cash as of fiscal year 2025; long-term debt is not reported for that period.
MetLife paid $2.25 per share in dividends in fiscal year 2025. This represents an increase of 4.3% from the prior year.
Not reported for fiscal year 2025.
Margins & Returns
MetLife's operating margin was 8.0% in fiscal year 2025, reflecting core business profitability. This is down 0.5 percentage points from the prior year.
MetLife's net profit margin was 4.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.8 percentage points from the prior year.
MetLife's ROE was 11.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.2 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
MetLife spent $2.9B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 10.1% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
MET Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $79.4B | $77.1B+8.6% | $71.0B+6.1% | $66.9B-2.7% | $68.8B+0.1% | $68.7B+1.3% | $67.8B-2.6% | $69.6B+2.5% | $67.9B+9.0% | $62.3B+2.5% | $60.8B-0.9% | $61.3B-4.1% | $64.0B-6.2% | $68.2B+0.1% | $68.2B-3.0% | $70.2B |
| SG&A Expenses | $590.0M | $560.0M+16.4% | $481.0M-41.9% | $828.0M+23.8% | $669.0M-0.1% | $670.0M-12.0% | $761.0M-15.5% | $901.0M-1.0% | $910.0M-19.4% | $1.1B+12.1% | $1.0B-28.9% | $1.4B-70.7% | $4.8B-5.2% | $5.1B-8.2% | $5.6B+5.2% | $5.3B |
| Operating Income | $6.6B | $6.1B+2.4% | $6.0B+4.8% | $5.7B-4.3% | $6.0B | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $754.0M | $724.0M-1.9% | $738.0M-0.3% | $740.0M+13.0% | $655.0M+1.2% | $647.0M+2.4% | $632.0M-3.7% | $656.0M-20.7% | $827.0M-1.7% | $841.0M-3.8% | $874.0M-1.8% | $890.0M+2.2% | $871.0M+2.0% | $854.0M-2.0% | $871.0M-10.7% | $975.0M |
| Income Tax | $1.2B | $1.3B+6.8% | $1.2B+110.4% | $560.0M-47.3% | $1.1B-35.3% | $1.6B+8.8% | $1.5B+70.3% | $886.0M-24.9% | $1.2B+180.2% | -$1.5B-312.1% | $693.0M-56.4% | $1.6B-17.9% | $1.9B+192.9% | $661.0M+416.4% | $128.0M-95.4% | $2.8B |
| Net Income | $3.4B | $3.2B-24.9% | $4.2B+206.2% | $1.4B-41.4% | $2.4B-62.9% | $6.4B+17.5% | $5.4B-8.3% | $5.9B+15.1% | $5.1B+27.8% | $4.0B+371.8% | $850.0M-84.2% | $5.4B-14.8% | $6.3B+87.3% | $3.4B+154.4% | $1.3B-79.4% | $6.4B |
| EPS (Diluted) | — | $4.71-20.7% | $5.94+228.2% | $1.81 | $6.30 | $7.65+34.7% | $5.68-6.3% | $6.06+23.4% | $4.91+35.6% | $3.62+440.3% | $0.67-85.5% | $4.62-14.8% | $5.42+86.3% | $2.91+159.8% | $1.12-80.6% | $5.76 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
MET Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $745.2B+10.0% | $677.5B-1.5% | $687.6B+3.7% | $663.1B-12.7% | $759.7B-4.5% | $795.1B+7.4% | $740.5B+7.7% | $687.5B-4.5% | $719.9B-19.9% | $898.8B+2.4% | $877.9B-2.7% | $902.3B+1.9% | $885.3B+5.8% | $836.8B+5.1% | $796.2B |
| Cash & Equivalents | $22.0B+9.8% | $20.1B-2.8% | $20.6B+2.2% | $20.2B+0.7% | $20.0B+1.3% | $19.8B+19.3% | $16.6B+4.9% | $15.8B+24.6% | $12.7B+0.4% | $12.7B+13.1% | $11.2B+21.5% | $9.2B+41.9% | $6.5B-58.8% | $15.7B+50.4% | $10.5B |
| Accounts Receivable | $272.0M+14.3% | $238.0M-2.1% | $243.0M+7.5% | $226.0M-3.8% | $235.0M+78.0% | $132.0M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $9.6B+8.0% | $8.9B-3.6% | $9.2B-0.7% | $9.3B-2.5% | $9.5B-5.7% | $10.1B+8.6% | $9.3B-1.2% | $9.4B-1.8% | $9.6B+4.0% | $9.2B0.0% | $9.2B-4.1% | $9.6B-6.0% | $10.2B+2.7% | $10.0B-16.6% | $11.9B |
| Total Liabilities | $716.2B+10.2% | $649.8B-1.2% | $657.3B+3.9% | $632.9B-8.5% | $692.0B-3.9% | $720.3B+6.9% | $674.1B+6.2% | $634.6B-4.0% | $661.0B-20.5% | $831.1B+2.7% | $809.4B-2.4% | $829.7B+0.9% | $822.3B+6.5% | $771.8B+4.6% | $738.2B |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $23.7B |
| Total Equity | $28.4B+3.5% | $27.4B-8.6% | $30.0B+0.4% | $29.9B-55.7% | $67.5B-9.5% | $74.6B+12.7% | $66.1B+25.4% | $52.7B-10.1% | $58.7B-13.1% | $67.5B-0.8% | $68.1B-5.7% | $72.2B+17.3% | $61.6B-4.5% | $64.5B+12.1% | $57.5B |
| Retained Earnings | $44.3B+3.9% | $42.6B+6.2% | $40.1B-0.5% | $40.3B-2.1% | $41.2B+12.9% | $36.5B+10.3% | $33.1B+14.4% | $28.9B+9.0% | $26.5B-23.5% | $34.7B-2.8% | $35.7B+11.1% | $32.1B+17.5% | $27.3B+8.4% | $25.2B+1.6% | $24.8B |
Not reported in any period shown, so not listed: Current Assets, Inventory, Current Liabilities.
MET Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $15.6B | $17.1B+17.1% | $14.6B+6.4% | $13.7B+5.2% | $13.0B+5.6% | $12.3B+6.1% | $11.6B-15.6% | $13.8B+17.4% | $11.7B-4.4% | $12.3B-16.9% | $14.8B+5.1% | $14.1B-14.2% | $16.4B+1.5% | $16.1B-6.0% | $17.2B+67.0% | $10.3B |
| Investing Cash Flow | -$23.6B | -$15.6B-35.8% | -$11.5B-12.2% | -$10.2B-291.1% | -$2.6B+76.6% | -$11.2B+39.8% | -$18.6B-5.6% | -$17.6B-212.1% | -$5.6B+66.6% | -$16.9B-188.5% | -$5.8B+43.7% | -$10.4B+30.9% | -$15.1B+0.7% | -$15.2B-27.1% | -$11.9B+46.3% | -$22.2B |
| Financing Cash Flow | $5.3B | $163.0M+105.2% | -$3.1B-6.5% | -$2.9B+70.4% | -$9.9B-783.5% | -$1.1B-110.5% | $10.7B+134.9% | $4.6B+263.1% | -$2.8B-209.2% | -$906.0M+74.1% | -$3.5B-187.1% | -$1.2B-154.0% | $2.3B+125.3% | -$8.9B-25548.6% | $35.0M-99.6% | $9.4B |
| Dividends Paid | $1.5B | $1.5B-1.2% | $1.5B-2.5% | $1.6B-2.0% | $1.6B-3.0% | $1.6B-0.6% | $1.7B+0.9% | $1.6B-2.1% | $1.7B-2.3% | $1.7B-1.1% | $1.7B+5.0% | $1.7B+10.3% | $1.5B+34.0% | $1.1B+38.0% | $811.0M+3.0% | $787.0M |
| Share Buybacks | $2.4B | $2.9B-10.1% | $3.2B+3.4% | $3.1B-6.7% | $3.3B-22.7% | $4.3B+273.8% | $1.2B-49.6% | $2.3B-42.8% | $4.0B+36.4% | $2.9B+686.8% | $372.0M-80.7% | $1.9B+93.0% | $1.0B | $0 | $0 | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
MET Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 8.0%-0.5pp | 8.5%-0.1pp | 8.6%-0.1pp | 8.7% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 4.1%-1.8pp | 5.9%+3.9pp | 2.1%-1.4pp | 3.4%-5.8pp | 9.3%+1.3pp | 8.0%-0.5pp | 8.5%+0.9pp | 7.5%+1.1pp | 6.4%+5.0pp | 1.4%-7.4pp | 8.8%-1.1pp | 9.9%+4.9pp | 4.9%+3.0pp | 1.9%-7.2pp | 9.1% |
| Return on Equity | 11.2%-4.2pp | 15.4%+10.8pp | 4.6%-3.3pp | 7.9%-1.5pp | 9.4%+2.2pp | 7.2%-1.7pp | 8.9%-0.8pp | 9.7%+2.9pp | 6.8%+5.6pp | 1.3%-6.6pp | 7.9%-0.9pp | 8.7%+3.3pp | 5.5%+3.4pp | 2.1%-9.1pp | 11.2% |
| Return on Assets | 0.4%-0.2pp | 0.6%+0.4pp | 0.2%-0.2pp | 0.4%-0.5pp | 0.8%+0.2pp | 0.7%-0.1pp | 0.8%+0.1pp | 0.8%+0.2pp | 0.6%+0.5pp | 0.1%-0.5pp | 0.6%-0.1pp | 0.7%+0.3pp | 0.4%+0.2pp | 0.2%-0.7pp | 0.8% |
| Debt-to-Equity | 25.22+1.5x | 23.67+1.8x | 21.90+0.7x | 21.18+10.9x | 10.25+0.6x | 9.66-0.5x | 10.19-1.8x | 12.03+0.8x | 11.27-1.0x | 12.31+0.4x | 11.89+0.4x | 11.49-1.9x | 13.36+1.4x | 11.97+11.6x | 0.41 |
Not reported in any period shown, so not listed: Gross Margin, Current Ratio, FCF Margin.
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Where MetLife Ranks
Frequently Asked Questions
What is MetLife's annual revenue?
MetLife (MET) reported $77.1B in total revenue for fiscal year 2025. This represents a 8.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is MetLife's revenue growing?
MetLife (MET) revenue grew by 8.6% year-over-year, from $71.0B to $77.1B in fiscal year 2025.
Is MetLife profitable?
Yes, MetLife (MET) reported a net income of $3.2B in fiscal year 2025, with a net profit margin of 4.1%.
What is MetLife's EBITDA?
MetLife (MET) had EBITDA of $6.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is MetLife's operating margin?
MetLife (MET) had an operating margin of 8.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is MetLife's net profit margin?
MetLife (MET) had a net profit margin of 4.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does MetLife pay dividends?
Yes, MetLife (MET) paid $2.25 per share in dividends during fiscal year 2025.
What is MetLife's return on equity (ROE)?
MetLife (MET) has a return on equity of 11.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is MetLife's operating cash flow?
MetLife (MET) generated $17.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are MetLife's total assets?
MetLife (MET) had $745.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What is MetLife's debt-to-equity ratio?
MetLife (MET) had a debt-to-equity ratio of 25.22 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is MetLife's return on assets (ROA)?
MetLife (MET) had a return on assets of 0.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is MetLife's Piotroski F-Score?
MetLife (MET) has a Piotroski F-Score of 4 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are MetLife's earnings high quality?
MetLife (MET) has an earnings quality ratio of 5.39x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can MetLife cover its interest payments?
MetLife (MET) has an interest coverage ratio of 8.48x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is MetLife?
MetLife (MET) scores 17 out of 100 on our Financial Health Score, indicating weak standing within its insurers peer group. The score is a 0-100 composite of six dimensions (Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.