MetLife, Inc.MET
NYSE•Financial Services•Insurance - Life
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.
as of March 2026
Are revenues and earnings expanding?
$77.59B in TTM revenue grew 5.6% YoY, reaching $19.07B last quarter. TTM EBITDA of $6.35B on operating income of $1.63B shows growth is flowing through. Net income of $3.62B TTM confirms the company is converting revenue into profit. Revenue is growing at a healthy pace — a signal to hold.
Is revenue turning into profit effectively?
Op. margin of 8.6% is up 0.9% YoY — cost efficiency is improving. Net margin at 6.2%. ROE of 13.2% shows the company generates solid returns on shareholder equity.
Is the stock cheap or expensive?
At 15.5x P/E, the stock trades in line with market averages — fairly valued. P/S of 0.7x and P/B of 2.0x provide additional context. Assess whether the current multiple is justified by the company's growth and profitability trajectory.
Is the company financially stable?
With $743.21B in assets and $14.45B in long-term debt, the D/E of 0.5 shows a conservative capital structure — the company has a strong financial cushion to weather downturns.
Is the business self-funding?
FCF of $2.69B on $2.69B in operating cash flow. The FCF / Net Income ratio of 0.7x means earnings are well backed by actual cash — high-quality earnings. Cash reserves of $22.69B provide financial flexibility. Shares outstanding declined 4.4% YoY — buybacks are returning capital to shareholders.
Competitive analysis based on 66 quarters of fundamental data
Operating margins are positive at ~11.3% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~13.7% on average, adequate but below the threshold typically associated with wide moats.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue shows resilience with 4 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 66 quarters
Operating margins dropped 42.2% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF covers net income by 4.1x on average — earnings are well-supported by cash generation.
D/E ratio is 0.5 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 8.2% — net buybacks are reducing shares outstanding and boosting per-share value.