financial statements

The full income statement, balance sheet, and cash-flow statement for MetLife Inc. (MET), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	2.44B YoY+8.5%	2.25B YoY+0.7%	2.23B YoY+5.6%	2.11B YoY+1.7%	2.07B YoY+53.2%
	13.9B YoY+6.5%	13.0B YoY+2.4%	12.7B YoY+7.2%	11.9B YoY-1.3%	12.0B YoY-8.6%
Selling, general & administrative	560M YoY+16.4%	481M YoY-41.9%	828M YoY+23.8%	669M YoY-0.1%	670M YoY-12.0%
General & administrative	560M YoY+16.4%	481M YoY-41.9%	828M YoY+23.8%	669M YoY-0.1%	670M YoY-12.0%
Selling & marketing	6.79B YoY+12.8%	6.02B YoY+3.4%	5.82B YoY+10.5%	5.26B YoY-3.6%	5.46B YoY-2.4%
Amortization of intangibles	83.0M YoY-2.4%	85.0M YoY-3.4%	88.0M YoY-4.3%	92.0M YoY-8.0%	100M YoY+143.9%
Operating income	6.14B YoY+2.4%	6.00B YoY+4.8%	5.72B YoY-4.3%	5.98B	—
Equity-method income	1.55B YoY+57.3%	988M YoY+554.3%	151M YoY-88.4%	1.30B YoY-74.6%	5.14B YoY+519.5%
Pre-tax income	4.66B YoY-17.1%	5.62B YoY+160.0%	2.16B YoY-66.0%	6.36B YoY-25.3%	8.52B YoY+23.0%
Income tax	1.26B YoY+6.8%	1.18B YoY+110.4%	560M YoY-47.3%	1.06B YoY-35.3%	1.64B YoY+8.8%
	3.17B YoY-24.9%	4.23B YoY+206.2%	1.38B YoY-41.4%	2.35B YoY-62.9%	6.35B YoY+17.5%
Net income to non-controlling interest	24.0M YoY+33.3%	18.0M YoY-25.0%	24.0M YoY+33.3%	18.0M YoY-14.3%	21.0M YoY+90.9%
Preferred dividends	194M YoY-3.0%	200M YoY+1.0%	198M YoY+7.0%	185M YoY-5.1%	195M YoY-3.5%
Net income to common	3.17B YoY-24.9%	4.23B YoY+206.2%	1.38B YoY-72.9%	5.10B YoY-23.4%	6.65B YoY+28.2%
	$4.71 YoY-20.7%	$5.94 YoY+228.2%	$1.81 YoY-71.3%	$6.30 YoY-17.6%	$7.65 YoY+34.7%
EPS (basic)	$4.74 YoY-20.7%	$5.98 YoY+228.6%	$1.82 YoY-71.3%	$6.35 YoY-17.6%	$7.71 YoY+34.8%
Weighted-avg shares (basic)	669M YoY-5.3%	706M YoY-6.8%	758M YoY-5.7%	803M YoY-6.9%	863M YoY-5.0%
Weighted-avg shares (diluted)	673M YoY-5.3%	711M YoY-6.7%	762M YoY-5.8%	809M YoY-7.0%	869M YoY-4.8%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	22.0B YoY+9.8%	20.1B YoY-2.8%	20.6B YoY+2.2%	20.2B YoY+0.7%	20.0B YoY+1.3%
Short-term investments	3.60B YoY-30.2%	5.16B YoY-14.7%	6.04B YoY+22.5%	4.93B YoY-31.2%	7.18B YoY+83.8%
	745B YoY+10.0%	677B YoY-1.5%	688B YoY+3.7%	663B YoY-12.7%	760B YoY-4.5%
Operating lease right-of-use	984M YoY+6.0%	928M YoY-12.5%	1.06B YoY+10.4%	961M YoY-13.4%	1.11B YoY-15.5%
Goodwill	9.61B YoY+8.0%	8.90B YoY-3.6%	9.24B YoY-0.7%	9.30B YoY-2.5%	9.54B YoY-5.7%
Intangible assets	636M YoY-10.4%	710M YoY-10.6%	794M YoY-9.4%	876M YoY-9.9%	972M YoY-11.6%
Deferred tax assets	2.58B YoY-13.7%	2.99B YoY+14.6%	2.61B YoY+7.1%	2.44B YoY+1190.5%	189M
Deferred revenue	2.11B YoY+0.0%	2.11B YoY+0.0%	2.11B YoY+0.0%	2.11B YoY+0.0%	2.11B YoY+0.0%
Short-term & current debt	355M YoY-23.7%	465M YoY+290.8%	119M YoY-32.0%	175M YoY-48.7%	341M YoY-13.2%
	716B YoY+10.2%	650B YoY-1.2%	657B YoY+3.9%	633B YoY-8.5%	692B YoY-3.9%
Long-term debt	18.9B YoY+0.0%	18.9B YoY+0.0%	18.9B YoY+0.0%	18.9B YoY+0.0%	18.9B YoY+0.0%
Deferred tax liabilities	536M YoY+306.1%	132M YoY-85.8%	927M YoY-2.4%	950M YoY-90.2%	9.69B YoY-11.9%
	28.4B YoY+3.5%	27.4B YoY-8.6%	30.0B YoY+0.4%	29.9B YoY-55.7%	67.5B YoY-9.5%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	12.0M YoY+0.0%	12.0M YoY+0.0%	12.0M YoY+0.0%	12.0M YoY+0.0%	12.0M YoY+0.0%
Additional paid-in capital	32.9B YoY-2.8%	33.8B YoY+0.3%	33.7B YoY+0.2%	33.6B YoY+0.3%	33.5B YoY-0.9%
Retained earnings	44.3B YoY+3.9%	42.6B YoY+6.2%	40.1B YoY-0.5%	40.3B YoY-2.1%	41.2B YoY+12.9%
Treasury stock	30.7B YoY+10.4%	27.8B YoY+13.0%	24.6B YoY+14.6%	21.5B YoY+18.2%	18.2B YoY+31.3%
Accumulated other comprehensive income	-18.1B YoY+14.6%	-21.2B YoY-10.1%	-19.2B YoY+14.9%	-22.6B YoY-822.9%	-2.45B YoY-113.6%
Non-controlling interest	282M YoY+9.3%	258M YoY+8.4%	238M YoY-2.5%	244M YoY-8.6%	267M YoY+3.1%
Total equity incl. non-controlling	28.7B YoY+3.5%	27.7B YoY-8.4%	30.3B YoY+0.4%	30.1B YoY-39.8%	50.0B YoY-33.2%
Total liabilities & equity	745B YoY+10.0%	677B YoY-1.5%	688B YoY+3.7%	663B YoY-12.7%	760B YoY-4.5%
Common shares issued	1.20B YoY+0.1%	1.19B YoY+0.2%	1.19B YoY+0.2%	1.19B YoY+0.3%	1.19B YoY+0.4%
Common shares outstanding	655M YoY-4.9%	689M YoY-5.7%	731M YoY-6.2%	779M YoY-5.6%	826M YoY-7.5%
Shares outstanding (cover)	659M YoY-4.8%	692M YoY-6.5%	740M YoY-5.7%	785M YoY-6.7%	841M YoY-6.5%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	17.1B YoY+17.1%	14.6B YoY+6.4%	13.7B YoY+5.2%	13.0B YoY+5.6%	12.3B YoY+6.1%
Depreciation & amortization	117M YoY-5.6%	124M YoY+10.7%	112M YoY-5.1%	118M YoY-4.1%	123M YoY-36.6%
Deferred income taxes	7.00M YoY+100.9%	-766M YoY+30.8%	-1.11B YoY-412.5%	-216M YoY-128.9%	747M YoY+127.1%
Other operating activities	443M YoY-29.5%	628M YoY+218.8%	197M YoY-19.6%	245M YoY+116.8%	113M YoY-67.8%
	-15.6B YoY-35.8%	-11.5B YoY-12.2%	-10.2B YoY-291.1%	-2.62B YoY+76.6%	-11.2B YoY+39.8%
Acquisitions	738M	0.00	0.00 YoY-100.0%	35.0M	0.00 YoY-100.0%
Other investing activities	75.0M YoY-56.6%	173M YoY+21.0%	143M YoY+127.0%	63.0M YoY+37.0%	46.0M YoY+133.1%
	163M YoY+105.2%	-3.13B YoY-6.5%	-2.94B YoY+70.4%	-9.95B YoY-783.5%	-1.13B YoY-110.5%
Long-term debt issued	743M YoY-52.6%	1.57B YoY-21.2%	1.99B YoY+96.3%	1.01B YoY+3393.1%	29.0M YoY-97.4%
Common stock repurchased	2.88B YoY-10.1%	3.21B YoY+3.4%	3.10B YoY-6.7%	3.33B YoY-22.7%	4.30B YoY+273.8%
Dividends paid	1.51B YoY-1.2%	1.53B YoY-2.5%	1.57B YoY-2.0%	1.60B YoY-3.0%	1.65B YoY-0.6%
Other financing activities	-261M YoY-217.0%	223M YoY+260.4%	-139M YoY+41.1%	-236M YoY-1172.7%	22.0M YoY-88.5%
Net change in cash	1.96B YoY+444.0%	-571M YoY-228.6%	444M YoY+462.0%	79.0M YoY+117.8%	-444M YoY-111.2%
Interest paid	1.04B YoY+0.4%	1.04B YoY+4.9%	989M YoY+9.3%	905M YoY-1.0%	914M YoY+2.6%
Income taxes paid	1.56B YoY-2.3%	1.60B YoY-12.7%	1.83B YoY+73.6%	1.06B YoY-4.2%	1.10B YoY+40.0%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	52.0B YoY-8.3%	56.7B YoY+15.8%	48.9B YoY-13.8%	56.8B YoY+8.0%	52.6B YoY+24.4%
P/E	16.4× YoY+22.2%	13.4× YoY-31.2%	19.5× YoY+59.2%	12.3× YoY+48.1%	8.3× YoY+5.9%
P/S	21.4× YoY-15.5%	25.3× YoY+777.0%	2.9× YoY-89.4%	27.3× YoY+7.7%	25.3× YoY+1124.7%
P/B	1.8× YoY-11.3%	2.1× YoY+6.6%	1.9× YoY-15.8%	2.3× YoY+195.5%	0.8× YoY+37.4%
P/FCF	3.0× YoY-21.6%	3.9× YoY-15.3%	4.6× YoY+25.8%	3.6× YoY-14.4%	4.3× YoY+17.3%
Earnings yield	6.1% YoY-18.2%	7.5% YoY+45.4%	5.1% YoY-37.2%	8.2% YoY-32.5%	12.1% YoY-5.6%
FCF yield	32.9% YoY+27.6%	25.7% YoY+18.1%	21.8% YoY-20.5%	27.4% YoY+16.8%	23.5% YoY-14.7%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: MET's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MET filings on SEC EDGAR → Not investment advice.

MET▼ financial statements

About this data

financial statements