Metlife (MET)
NYSE:MET
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Metlife
(NYSE:MET)
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Rating:58Neutral
Price Target:
$76.00
â–¼(-2.66% Downside)
Action:ReiteratedDate:03/06/26
The score is held back primarily by deteriorating cash-flow performance in 2025 and a clearly bearish technical trend (price below key moving averages with weak momentum). Offsetting these are a reasonable valuation with a ~3.1% dividend yield and a generally positive earnings-call outlook featuring double-digit adjusted EPS growth guidance and continued capital returns, though tempered by expected 2026 corporate headwinds and variable investment income softness.
Positive Factors
Diversified Global Franchise
MetLife’s broad geographic footprint and multi‑product model (life, group benefits, annuities, retirement) creates durable revenue diversification. Scale across markets and employer partnerships reduces single‑market dependence and supports persistent premium and fee streams through cycles.
Negative Factors
Sharp Free Cash Flow Decline
A dramatic FCF drop in 2025 signals greater volatility in cash conversion versus prior years, weakening cushion for buybacks, dividends, and organic investment. If sustained, lower cash generation could constrain capital returns and limit flexibility to fund growth or absorb investment shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Global Franchise
MetLife’s broad geographic footprint and multi‑product model (life, group benefits, annuities, retirement) creates durable revenue diversification. Scale across markets and employer partnerships reduces single‑market dependence and supports persistent premium and fee streams through cycles.
Read all positive factors
Metlife (MET) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$51.49B
Dividend Yield2.78%
Average Volume (3M)3.64M
Price to Earnings (P/E)15.5
Beta (1Y)1.02
Revenue Growth8.59%
EPS Growth-21.11%
CountryUS
Employees45,000
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)2.49
Shares Outstanding652,053,900
10 Day Avg. Volume3,610,754
30 Day Avg. Volume3,638,691
Financial Highlights & Ratios
PEG Ratio-0.79
Price to Book (P/B)1.85
Price to Sales (P/S)0.68
P/FCF Ratio2.90
Enterprise Value/Market Cap0.96
Enterprise Value/Revenue0.65
Enterprise Value/Gross Profit2.55
Enterprise Value/Ebitda8.67
Forecast
1Y Price Target
$91.36Price Target Upside17.01% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)9.79
Revenue Forecast (FY)$79.58B
Metlife Business Overview & Revenue Model
Company Description
MetLife, Inc., a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife H...
How the Company Makes Money
MetLife generates revenue primarily through premiums collected from its insurance policies, which include life, health, and property insurance. The company also earns income from investment returns on its extensive portfolio of assets, which is co...
Metlife Earnings Call Summary
Earnings Call Date:Feb 04, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational momentum across multiple businesses, robust top-line growth, successful strategic actions (PineBridge, reinsurance, PRT origination) and achievement of key 2025 targets (adjusted EPS growth, ROE, expense efficiency, and free cash flow progress). Primary near-term concerns include a modest shortfall in variable investment income (and slightly lower-than-expected private equity/real estate returns), an anticipated 2026 drag from corporate & other, a temporary rise in the direct expense ratio due to the PineBridge acquisition, and some line-specific underwriting pressure (disability). Taken together, the positives — including record PRT origination, strong regional sales, AUM growth, capital returns, and adherence to strategic commitments — materially outweigh the headwinds described, supporting a constructive outlook.Positive Updates
Strong Quarterly Adjusted EPS Performance
Q4 adjusted earnings of $1.6B (reported $2.49/sh); excluding notable items Q4 adjusted EPS was $2.58/sh, up 24% YoY (from $2.08) and described as MetLife's highest single EPS quarter.
Negative Updates
Variable Investment Income (VII) Shortfall and PE/Real Estate Returns
Q4 VII of $497M and FY VII of $1.5B fell short of the $1.7B FY target; private equity full-year return 8.2% (below expected 9%); real estate and other funds produced weaker returns, contributing to the shortfall. VII assets concentrated (~$19B total; Asia ~45%).
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Quarterly Adjusted EPS Performance
Q4 adjusted earnings of $1.6B (reported $2.49/sh); excluding notable items Q4 adjusted EPS was $2.58/sh, up 24% YoY (from $2.08) and described as MetLife's highest single EPS quarter.
Read all positive updates
Company Guidance
The company’s near-term guidance reinforces its New Frontier commitments: management expects double‑digit adjusted EPS growth in 2026, adjusted ROE of 15%–17%, and to maintain a two‑year average free cash flow ratio of 65%–75% (supporting a five‑year free cash flow target of $25 billion, of which $4.9 billion was generated in 2025); 2026 targets include a direct expense ratio ~12.1% (PineBridge adds ~50 bps) with a 2029 target of 11.3%, favorable investment income of roughly $1.6 billion pretax, a corporate & other after‑tax loss of $500–700 million, and an effective tax rate of 24%–26% while share repurchases in 2026 are expected to be in line with 2025. Segment and product guidance includes Group Benefits PFO growth of 4%–7%, a revised group life mortality target of 83%–88% and nonmedical health interest adjusted benefit ratio of 70%–75% with Group Benefits adjusted earnings up 7%–9% in 2026; RIS retained liabilities are expected to grow 3%–5% with RIS adjusted earnings of $1.6–1.8 billion and GA spreads of 100–120 bps; Asia sales and AUM to grow mid‑single to mid‑high single digits with Asia earnings mid‑single digits; Latin America PFOs high‑single digits and adjusted earnings +6%–8% in 2026 (including ~ $50 million Mexico VAT impact); EMEA PFOs high‑single digits and a new quarterly run rate of $90–100 million in 2026; and MIM revenue growth ~30% in 2026 with MIM adjusted earnings $240–280 million (then +15%–20% p.a. in 2027–28, targeting ~32% operating margin by 2028). Additional numeric context: total VII assets ≈ $19 billion, VII return assumptions PE 9% and real estate/other 7%, year‑end MIM AUM $742 billion, holdco cash ~$3.6 billion within a $3–4 billion buffer, and US statutory NAIC RBC expected above 360%.Metlife Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
63
Positive
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 77.08B | 69.94B | 67.71B | 67.97B | 63.37B |
| Gross Profit | 28.02B | 19.00B | 17.29B | 18.94B | 16.84B |
| EBITDA | 5.72B | 7.37B | 3.92B | 7.97B | 10.13B |
| Net Income | 3.38B | 4.43B | 1.58B | 5.28B | 6.86B |
Balance Sheet | |||||
| Total Assets | 745.17B | 677.46B | 687.58B | 663.07B | 759.71B |
| Cash, Cash Equivalents and Short-Term Investments | 125.34B | 108.78B | 316.83B | 313.32B | 367.50B |
| Total Debt | 20.18B | 18.71B | 18.83B | 17.98B | 17.43B |
| Total Liabilities | 716.25B | 649.75B | 657.33B | 632.95B | 691.96B |
| Stockholders Equity | 28.40B | 27.45B | 30.02B | 29.88B | 67.48B |
Cash Flow | |||||
| Free Cash Flow | 18.11B | 15.12B | 14.26B | 11.37B | 12.83B |
| Operating Cash Flow | 18.11B | 15.12B | 14.26B | 11.37B | 12.83B |
| Investing Cash Flow | -15.61B | -11.49B | -10.25B | -2.62B | -11.19B |
| Financing Cash Flow | 163.00M | -3.13B | -2.94B | -9.95B | -1.38B |
Metlife Technical Analysis
Positive
78.08
Price Trends
73.23
Positive
75.70
Positive
76.67
Positive
Market Momentum
1.45
Negative
69.70
Neutral
91.76
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MET, the sentiment is Positive. The current price of 78.08 is above the 20-day moving average (MA) of 72.28, above the 50-day MA of 73.23, and above the 200-day MA of 76.67, indicating a bullish trend. The MACD of 1.45 indicates Negative momentum. The RSI at 69.70 is Neutral, neither overbought nor oversold. The STOCH value of 91.76 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MET.
Metlife Risk Analysis
Metlife disclosed 46 risk factors in its most recent earnings report. Metlife reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Metlife Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $11.97B | 10.08 | 20.92% | 0.74% | 3.96% | 18.84% | |
77 Outperform | $59.87B | 10.60 | 13.05% | 2.10% | -9.31% | -28.39% | |
73 Outperform | $13.13B | 12.91 | 6.63% | 2.22% | 3.49% | -45.74% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $33.54B | 11.10 | 11.44% | 4.73% | -13.68% | 33.89% | |
61 Neutral | $7.07B | 6.91 | 12.03% | 3.93% | -9.46% | -70.45% | |
58 Neutral | $51.49B | 15.53 | 12.01% | 2.78% | 8.59% | -21.11% |
* Financial Sector Average
MET
Metlife
78.96
5.77
7.88%
AFL
AFLAC
116.21
9.84
9.25%
LNC
Lincoln National
36.98
6.60
21.72%
PRU
Prudential Financial
96.42
-1.09
-1.12%
GL
Globe Life
152.54
30.24
24.73%
UNM
Unum Group
81.29
5.46
7.19%
Metlife Corporate Events
Dividends
MetLife Confirms First-Quarter 2026 Series A Preferred Dividend
Positive
Mar 5, 2026
On March 5, 2026, MetLife, Inc. confirmed its previously announced first quarter 2026 dividend of $0.31501229 per share on its floating rate non-cumulative preferred stock, Series A, which carries a $25 per share liquidation preference. The divide...
Business Operations and StrategyPrivate Placements and Financing
MetLife Issues $1 Billion Subordinated Debentures to Bolster Capital
Positive
Feb 26, 2026
On February 26, 2026, MetLife, Inc. issued $1 billion of 5.850% Fixed-to-Fixed Reset Rate Subordinated Debentures due 2056 under an existing shelf registration, using its long-standing indenture with The Bank of New York Mellon Trust Company as tr...
Business Operations and StrategyExecutive/Board Changes
MetLife Expands Board With Two New Independent Directors
Positive
Feb 24, 2026
On February 24, 2026, MetLife, Inc. expanded its Board of Directors from eleven to thirteen members and elected Daniel S. Glaser and Michelle R. Seitz as new independent directors, each joining immediately. Glaser was appointed to the Audit, Compe...
Dividends
MetLife Announces First-Quarter 2026 Preferred Stock Dividends
Positive
Feb 17, 2026
On February 17, 2026, MetLife, Inc. announced a series of preferred stock dividend declarations for the first quarter of 2026, covering its Series D, E, F and A securities. The dividends, which vary by series and structure, underscore the company&...
Business Operations and StrategyFinancial Disclosures
MetLife Reports Strong 2025 Results and Growth Momentum
Positive
Feb 4, 2026
On February 4, 2026, MetLife reported its fourth-quarter and full-year 2025 results, highlighting solid operating momentum despite lower net income year over year. For 2025, net income declined to $3.2 billion, or $4.71 per share, but adjusted ear...
Business Operations and StrategyFinancial Disclosures
MetLife Elevates Investment Management in Strategic Reorganization
Positive
Jan 9, 2026
In the fourth quarter of 2025, MetLife reorganized its business to support its strategy of accelerating growth in asset management, elevating MetLife Investment Management (MIM) from Corporate Other to a standalone reportable segment and moving M...
Business Operations and StrategyM&A Transactions
MetLife Completes PineBridge Acquisition, Expanding Global Asset Management
Positive
Dec 30, 2025
On December 30, 2025, MetLife Investment Management closed its acquisition of PineBridge Investments, creating a combined institutional asset management business with $734.7 billion in pro forma assets under management and significantly expanding ...
Business Operations and StrategyStock BuybackFinancial DisclosuresM&A Transactions
MetLife Updates 2025 Results Outlook and Capital Plans
Positive
Dec 22, 2025
MetLife disclosed preliminary variable investment income results and capital management plans for the fourth quarter and full year 2025, ahead of its scheduled February 4, 2026 earnings release. For the quarter ending December 31, 2025, the compan...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.