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.
MetLife, Inc. (MET) reported trailing twelve months revenue of $76.94B as of March 2026, a 6.1% increase year-over-year. Quarterly revenue reached $19.07B, reflecting continued top-line momentum.
MetLife, Inc. generated $3.62B in TTM net income, with quarterly EBITDA of $1.77B. The operating margin expanded from 7.4% to 7.9%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (7.9%) and net margin (6.2%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 5.2% a year ago, signaling stronger bottom-line efficiency.
MET trades at a P/E of 12.4x (below the broader market average) and a P/S of 0.6x. The price-to-book ratio of 1.6x reflects a moderate premium to book value.
The company generated $2.69B in free cash flow over the trailing twelve months, a 37.0% decrease year-over-year, indicating strong cash generation ability. The balance sheet shows $743.21B in total assets with $19.59B in long-term debt against $27.32B in stockholders equity for a debt-to-equity ratio of 0.7. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~7.3% 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 21 quarters
Operating margins dropped 22.1% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF covers net income by 4.3x on average — earnings are well-supported by cash generation.
D/E ratio is 0.7 — 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 8.3% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation