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MetLife, Inc., a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates in six segments: Group Benefits; Retirement and Income Solutions; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, paid family and medical leave, individual disability, accidental death and dismemberment, accident and health, vision, and pet insurance, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements. It also provides pension risk transfers, institutional income annuities, structured settlements, and capital markets investment products; and other products and services, such as life insurance products and funding agreements for funding postretirement benefits, as well as company, bank, or trust-owned life insurance used to finance nonqualified benefit programs for executives. In addition, it offers fixed, indexed-linked, and variable annuities; pension products; regular savings products; whole and term life, endowments, universal and variable life, and group life products; longevity and funded reinsurance solutions; credit insurance products; accident & health products covering hospitalization, cancer, critical illness, income protection, and scheduled medical reimbursement plans; and protection against long-term health care services. The company was incorporated in 1999 and is based in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $75.7B | - | $3.4B | $17.1B | 11.9% | 7.9% | -23.7% |
| 2024 | $70.1B | - | $4.4B | $14.6B | 16.1% | 3.2% | 180.5% |
| 2023 | $67.9B | - | $1.6B | $13.7B | 5.3% | 0.8% | -70.1% |
| 2022 | $67.4B | - | $5.3B | $13.0B | 17.7% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 67,409 | 67,934 | 70,131 | 75,654 |
| Operating Revenue | - | 67,409 | 67,934 | 70,131 | 75,654 |
| Selling General And Administration | - | 5,860 | 6,177 | 5,991 | 6,276 |
| Total Expenses | - | 61,045 | 65,772 | 64,509 | 70,993 |
| EBIT | - | 7,302 | 3,207 | 6,659 | 5,722 |
| Interest Expense | - | 938 | 1,045 | 1,037 | 1,061 |
| Net Interest Income | - | -938 | -1,045 | -1,037 | -1,061 |
| Other Income Expense | - | 520 | 545 | 627 | 775 |
| Interest Expense Non Operating | - | 938 | 1,045 | 1,037 | 1,061 |
| Net Non Operating Interest Income Expense | - | -938 | -1,045 | -1,037 | -1,061 |
| Pretax Income | - | 6,364 | 2,162 | 5,622 | 4,661 |
| Tax Provision | - | 1,062 | 560 | 1,178 | 1,258 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 5,302 | 1,602 | 4,444 | 3,403 |
| Net Income From Continuing And Discontinued Operation | - | 5,284 | 1,578 | 4,426 | 3,379 |
| Net Income From Continuing Operation Net Minority Interest | - | 5,284 | 1,578 | 4,426 | 3,379 |
| Net Income | - | 5,284 | 1,578 | 4,426 | 3,379 |
| Net Income Common Stockholders | - | 5,099 | 1,380 | 4,226 | 3,173 |
| Net Income Including Noncontrolling Interests | - | 5,302 | 1,602 | 4,444 | 3,403 |
| Normalized Income | - | 5,284 | 1,578 | 4,426 | 3,379 |
| Diluted NI Availto Com Stockholders | - | 5,099 | 1,380 | 4,226 | 3,173 |
| Basic Average Shares | - | 779.10 | 762.43 | 689.21 | 655.33 |
| Diluted Average Shares | - | 808.90 | 762.43 | 689.21 | 655.33 |
| Reconciled Depreciation | - | 673 | 718 | 714 | 753 |
| Total Unusual Items | 34 | 41 | - | - | - |
| Total Unusual Items Excluding Goodwill | 34 | 41 | - | - | - |
| Preferred Stock Dividends | - | 185 | 198 | 200 | 206 |
| Minority Interests | - | -18 | -24 | -18 | -24 |
| Special Income Charges | 34 | 41 | - | - | - |
| Restructuring And Mergern Acquisition | -34 | -41 | - | - | - |
| General And Administrative Expense | - | 5,860 | 6,177 | 5,991 | 6,276 |
| Other Gand A | - | 669 | 828 | 481 | 560 |
| Salaries And Wages | - | 5,191 | 5,349 | 5,510 | 5,716 |
| Other Operating Expenses | - | 751 | 1,962 | 825 | 931 |
| Loss Adjustment Expense | - | 45,947 | 43,551 | 43,413 | 49,060 |
| Net Policyholder Benefits And Claims | 41,709 | 45,947 | - | - | - |
| Policyholder Benefits Gross | - | 48,333 | 46,020 | 47,979 | 58,066 |
| Policyholder Benefits Ceded | - | 2,386 | 2,435 | 4,566 | 9,006 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| MetLife, Inc.this co. | MET | $53.7B | 15.89 | 1.89 | 11.9% | - |
| Truist Financial Corporation | TFC | $61.3B | 11.55 | 1.02 | 8.8% | - |
| Aflac Incorporated | AFL | $58.7B | 16.09 | 1.99 | 12.4% | - |
| The Allstate Corporation | ALL | $54.3B | 5.28 | 1.90 | 35.9% | - |
| Arthur J. Gallagher & Co. | AJG | $54.2B | 36.29 | 2.32 |
| - |
| - |
| - |
| - |
| 6.4% |
| 18.26 |
| Nasdaq, Inc. | NDAQ | $50.0B | 27.98 | 4.09 | 14.6% | 18.81 |
| Fifth Third Bancorp | FITB | $46.9B | 18.61 | 2.35 | 12.6% | - |
| State Street Corporation | STT | $45.0B | 15.30 | 1.86 | 12.1% | - |
| MSCI Inc. | MSCI | $45.0B | 37.44 | -16.96 | -45.3% | 26.42 |
| Peer Median | - | 17.35 | 1.94 | 12.2% | 18.81 | |