Metlife
MET · NYSELife Insurance · Fiscal year ends Dec 31
Metlife reported revenue of $2.4B in the fiscal year ended Dec 2025, up 8.5% from the year before. Operating income was $6.1B, an operating margin of 251.9%, and net income was $3.4B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $2.1B | $2.1B | $2.2B | $2.2B | $2.4B |
| Operating income | – | $6B | $5.7B | $6B | $6.1B |
| Interest expense | $647M | $655M | $740M | $738M | $724M |
| Pre-tax income | $8.5B | $6.4B | $2.2B | $5.6B | $4.7B |
| Income tax | $1.6B | $1.1B | $560M | $1.2B | $1.3B |
| Net income | $6.9B | $5.3B | $1.6B | $4.4B | $3.4B |
| Diluted EPS | 7.65 | 6.30 | 1.81 | 5.94 | 4.71 |
| Diluted shares | 869M | 809M | 762M | 711M | 673M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $20B | $20.2B | $20.6B | $20.1B | $22B |
| Goodwill | $9.5B | $9.3B | $9.2B | $8.9B | $9.6B |
| Total assets | $760B | $663B | $688B | $677B | $745B |
| Short-term debt | $341M | $175M | $119M | $465M | $355M |
| Total liabilities | $692B | $633B | $657B | $650B | $716B |
| Shareholders' equity | $67.5B | $29.9B | $30B | $27.4B | $28.4B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $12.3B | $13B | $13.7B | $14.6B | $17.1B |
| Depreciation & amortisation | $123M | $118M | $112M | $124M | $117M |
| Stock-based compensation | $173M | $184M | $171M | $168M | $131M |
| Acquisitions | $0 | $35M | $0 | $0 | $738M |
| Share buybacks | $4.3B | $3.3B | $3.1B | $3.2B | $2.9B |
| Dividends paid | $1.6B | $1.6B | $1.6B | $1.5B | $1.5B |
| Dividend per share | 1.90 | 1.98 | 2.06 | 2.15 | 2.25 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 1.7% | 5.6% | 0.7% | 8.5% |
| Operating income growth (YoY) | – | – | −4.3% | 4.8% | 2.4% |
| EPS growth (YoY) | – | −17.6% | −71.3% | 228.2% | −20.7% |
| Operating margin | – | 283.3% | 256.8% | 267.1% | 251.9% |
| Net margin | 330.5% | 250.4% | 70.8% | 197.1% | 138.7% |
| Return on equityBlank when equity is negative | 10.2% | 17.7% | 5.3% | 16.1% | 11.9% |
| Cash conversion (CFO ÷ net income) | 1.80x | 2.47x | 8.70x | 3.30x | 5.06x |
| Interest cover | – | 9.13x | 7.73x | 8.12x | 8.48x |
Recent filings
More in Life Insurance
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.