Metlife (MET) AI Stock Analysis

• Market Cap: $49.13B
• Dividend Yield: 2.78%
• Average Volume (3M): 3.68M
• Price to Earnings (P/E): 16.0
• Beta (1Y): 0.93
• Revenue Growth: 0.82%
• EPS Growth: 7.18%
• Country: US
• Employees: 45,000
• Sector: Financial
• Sector Strength: 70
• Industry: Insurance - Life
• EPS (TTM): 2.49
• Shares Outstanding: 652,053,900
• 10 Day Avg. Volume: 3,310,760
• 30 Day Avg. Volume: 3,678,787
• PEG Ratio: -0.79
• Price to Book (P/B): 1.85
• Price to Sales (P/S): 0.68
• P/FCF Ratio: 18.48
• Enterprise Value/Market Cap: 0.96
• Enterprise Value/Revenue: 0.62
• Enterprise Value/Gross Profit: 2.41
• Enterprise Value/Ebitda: 8.20
• 1Y Price Target: $93.50
• Price Target Upside: 24.10% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): 9.81
• Revenue Forecast (FY): $79.33B

• Rating: 57 Neutral
• Price Target: $78.00 ▲(3.53% Upside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

The score is held back primarily by the sharp 2025 cash-flow deterioration and weaker profitability/ROE versus last year, alongside bearish technical momentum (below key moving averages with a negative MACD). Offsetting these are a moderate valuation with a ~3% dividend yield and a generally positive earnings-call outlook featuring double-digit adjusted EPS growth and 15%–17% adjusted ROE guidance, though tempered by a sizable expected Corporate & Other drag and variable investment income shortfalls.

Positive Factors

Diversified global franchise and product mix

A broad geographic and product footprint reduces reliance on any single market or product cycle, smoothing premium and fee revenue streams. Multiple segments (Group Benefits, RIS, MIM, International) give durable cross-selling opportunities and resilience to localized shocks over the next several quarters.

Strong Retirement & PRT origination driving fee growth

Large, repeatable PRT and RIS transactions convert balance-sheet liabilities to fee-bearing businesses and generate upfront revenue and long-term fee streams. High origination volumes de-risk legacy blocks, improve capital efficiency, and support sustainable revenue growth and earnings diversification over coming quarters.

Expanded asset-management scale (MIM) after PineBridge close

Substantial AUM scale and the PineBridge deal increase fee income potential and diversify earnings toward asset-management margins. A larger MIM provides durable fee revenue less correlated to insurance underwriting, supports cross-selling of investment capabilities, and enhances long-term ROE potential if fee margins hold.

Negative Factors

Sharp 2025 cash-flow deterioration

A sudden and large decline in cash conversion undermines ability to fund buybacks, dividends, and investment without drawing on buffers. Even with positive FCF, such volatility raises questions about the reliability of cash generation and increases sensitivity to underwriting and investment shocks over the next several quarters.

Variable investment income shortfall and market sensitivity

Investment-return shortfalls reduce reported earnings and can compress ROE when realized; with VII assets concentrated and exposed to private markets, results remain sensitive to PE/real estate performance and market cycles. This structural earnings volatility can persist across multiple quarters as asset returns normalize.

Material 2026 Corporate & Other drag and rising leverage

A sustained corporate-level drag of this magnitude offsets operating gains and reduces consolidated earnings power. Coupled with an upward shift in leverage versus earlier years, this limits capital flexibility and increases the earnings hit from adverse scenarios, constraining strategic options for 2–6 months ahead.

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 Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, 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 provides fixed, indexed-linked, and variable annuities; and pension products; regular savings products; whole and term life, endowments, universal and variable life, and group life products; longevity reinsurance solutions; credit insurance products; and protection against long-term health care services. MetLife, Inc. was founded in 1863 and is headquartered in New York, New York.

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 comprised of bonds, equities, and real estate. Additionally, MetLife generates revenue from fees associated with its retirement and income solutions, such as annuities and pension plans. Key revenue streams include U.S. Life Insurance and Group Benefits, which provide substantial contributions to the overall earnings. Strategic partnerships with employers for group benefits and collaborations with financial advisors for retirement solutions also enhance its revenue potential. Furthermore, the company benefits from economies of scale and a diversified product offering, allowing it to mitigate risks and capitalize on various market opportunities.

Metlife Financial Statement Overview

Summary

Mixed fundamentals: revenue rose meaningfully in 2025, but profitability weakened (lower net income and margin compression). Balance sheet leverage is manageable but less conservative than earlier years and ROE cooled. The biggest negative is cash flow: operating cash flow/free cash flow fell sharply in 2025 versus a strong 2020–2024 run-rate, raising reliability concerns.

Income Statement

Revenue has improved meaningfully in the most recent year (2025 revenue up ~8.9% vs. 2024), but profitability has weakened. Net income fell from ~$4.4B (2024) to ~$3.4B (2025) and net margin compressed to ~4.4% from ~6.3%, reflecting a less efficient earnings profile. Longer-term results are uneven: 2021–2022 were stronger margin years, while 2023 and 2025 show clear step-downs, indicating earnings volatility.

Balance Sheet

Leverage is moderate for the period shown, with debt-to-equity around ~0.68 in 2024–2025 (and lower in earlier years), suggesting balance-sheet risk is manageable but not conservative versus its own history. Equity is solid at ~$28.4B (2025), and return on equity remains acceptable at ~11.9%, though down from ~16.1% in 2024 and well below the best recent years—pointing to softer capital productivity. Total assets expanded to ~$745B (2025) from ~$677B (2024), but the key watch item is the upward shift in leverage versus 2020–2021.

Cash Flow

Cash generation deteriorated sharply in 2025: operating cash flow and free cash flow dropped to ~$2.8B from ~$15.1B in 2024 (free cash flow down ~81%), a major negative swing. While cash flow was strong and more stable across 2020–2024 (generally ~$11B–$15B), the 2025 collapse raises concerns about volatility and the reliability of near-term cash conversion. On the positive side, free cash flow remains positive, but the year-over-year drawdown dominates the cash-flow assessment.

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	22.03B	100.57B	302.05B	301.91B	367.50B
Total Debt	19.33B	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	2.84B	15.12B	14.26B	11.37B	12.83B
Operating Cash Flow	2.84B	15.12B	14.26B	11.37B	12.83B
Investing Cash Flow	1.43B	-11.49B	-10.25B	-2.62B	-11.19B
Financing Cash Flow	-5.22B	-3.13B	-2.94B	-9.95B	-1.38B

Metlife Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 75.34
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MET, the sentiment is Negative. The current price of 75.34 is below the 20-day moving average (MA) of 77.35, below the 50-day MA of 78.38, and below the 200-day MA of 77.72, indicating a bearish trend. The MACD of -0.19 indicates Positive momentum. The RSI at 43.04 is Neutral, neither overbought nor oversold. The STOCH value of 46.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MET.

Metlife Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AFL	73 Outperform	$58.94B	16.47	15.33%	2.10%	2.31%	15.46%
GL	70 Outperform	$11.33B	10.14	―	0.74%	3.73%	17.47%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
LNC	63 Neutral	$6.77B	6.11	12.27%	3.93%	35.76%	636.97%
PRU	63 Neutral	$34.94B	10.09	11.86%	4.73%	-19.35%	-35.23%
UNM	63 Neutral	$11.73B	16.59	6.69%	2.22%	1.80%	-44.44%
MET	57 Neutral	$49.13B	15.97	12.10%	2.78%	0.82%	7.18%

Metlife Corporate Events

MetLife Expands Board With Two New Independent Directors

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, Compensation, and Finance and Risk Committees, while Seitz joined the Compensation, Governance and Corporate Responsibility, and Investment Committees, reflecting a targeted strengthening of the board’s oversight capabilities.

Both Glaser and Seitz will receive MetLife’s standard non-management director compensation, consisting of an annual $355,000 retainer split between common stock and cash, with pro-rated and installment-based payments for partial-year service. The appointments signal MetLife’s ongoing efforts to enhance governance, risk oversight, and strategic guidance through an expanded and independently constituted board, with potential implications for shareholders and corporate stewardship.

The most recent analyst rating on (MET) stock is a Hold with a $85.00 price target. To see the full list of analyst forecasts on Metlife stock, see the MET Stock Forecast page.

MetLife Announces First-Quarter 2026 Preferred Stock Dividends

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’s continued capital return to preferred shareholders and reflect its current financial capacity to support these distributions.

The semi-annual dividend on Series D and quarterly dividends on Series E and F were declared with specified per-share and per-depositary-share amounts, while the floating rate Series A dividend remains subject to final confirmation that financial tests in its certificate of designations are met. All declared dividends are scheduled to be payable on March 16, 2026, to shareholders of record as of February 27, 2026, reinforcing MetLife’s ongoing engagement with income-focused investors in its capital structure.

The most recent analyst rating on (MET) stock is a Buy with a $91.00 price target. To see the full list of analyst forecasts on Metlife stock, see the MET Stock Forecast page.

MetLife Reports Strong 2025 Results and Growth Momentum

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 earnings per share excluding notable items rose 10% to $8.89 as premiums, fees and other revenues grew 10% to $57.6 billion and net investment income increased 6%. The company posted record Retirement & Income Solutions sales, including $14.2 billion in pension risk transfer deals and $11.1 billion of U.K. longevity reinsurance, lifted book value per share 14% to $39.02, improved expense ratios, and generated a 16% adjusted return on equity while returning nearly $4.4 billion to shareholders and maintaining holding company liquidity of $3.6 billion, suggesting stronger underlying profitability and balance sheet metrics that support its strategic push to extend market leadership and capital flexibility.

The most recent analyst rating on (MET) stock is a Buy with a $97.00 price target. To see the full list of analyst forecasts on Metlife stock, see the MET Stock Forecast page.

MetLife Elevates Investment Management in Strategic Reorganization

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 MetLife Holdings largely into Corporate & Other. Certain products previously housed in the MetLife Holdings segment were reclassified into the Group Benefits and Retirement and Income Solutions segments, and the company is now structured into six segments: Group Benefits, Retirement and Income Solutions, Asia, Latin America, Europe/Middle East/Africa and MIM, with remaining activities reported in Corporate & Other. Effective January 1, 2025, MetLife also amended agreements so that MIM manages general account assets at current market fee rates, and it retroactively revised segment disclosures and its Quarterly Financial Supplement for 2024 and 2025 periods to reflect the new structure and fee arrangements, while emphasizing that these changes did not affect previously reported consolidated net income or consolidated adjusted earnings.

The most recent analyst rating on (MET) stock is a Buy with a $90.00 price target. To see the full list of analyst forecasts on Metlife stock, see the MET Stock Forecast page.

MetLife Completes PineBridge Acquisition, Expanding Global Asset Management

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 MetLife’s global reach, particularly among non-U.S. clients, with a notable concentration in Asia. The deal, part of MetLife’s New Frontier strategy to accelerate growth in asset management, positions MIM as a more diversified, top-tier global asset manager, supported by a newly announced leadership team led by MIM president Brian Funk and combining senior talent from both firms, while excluding PineBridge’s private equity funds group and its China joint venture from the transaction.

The most recent analyst rating on (MET) stock is a Buy with a $90.00 price target. To see the full list of analyst forecasts on Metlife stock, see the MET Stock Forecast page.

MetLife Updates 2025 Results Outlook and Capital Plans

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 company estimates variable investment income of $385 million to $435 million pre-tax versus a $425 million target, and for full-year 2025 it anticipates a 7.7% return on its private equity portfolio. Looking to 2026, MetLife plans to assume a 9% annual return on private equity, contributing to an estimated $1.6 billion of pre-tax variable investment income for that year, while expecting variable investment income asset balances to decline over the next one to three years. On capital deployment, MetLife intends to prioritize organic growth with about $4 billion earmarked for 2025, plus roughly $1 billion to support M&A including the pending PineBridge Investments acquisition; it also projects about $2.85 billion of common stock repurchases in 2025, including approximately $430 million in the fourth quarter, and anticipates similar buyback levels in 2026, signaling continued emphasis on shareholder returns alongside growth investments.

The most recent analyst rating on (MET) stock is a Buy with a $101.00 price target. To see the full list of analyst forecasts on Metlife stock, see the MET Stock Forecast page.

MetLife Completes $10 Billion Risk Transfer Deal

On December 1, 2025, MetLife, Inc. announced the completion of a $10 billion variable annuity risk transfer transaction with Talcott Resolution Life Insurance Company. This transaction is part of MetLife’s strategy to reduce portfolio risk and accelerate the run-off of its legacy business blocks, resulting in expected annual adjusted earnings loss of approximately $100 million, partially offset by $45 million in hedge cost savings. MetLife Investment Management will manage around $6 billion of assets under investment management agreements with Talcott.

The most recent analyst rating on (MET) stock is a Hold with a $86.00 price target. To see the full list of analyst forecasts on Metlife stock, see the MET Stock Forecast page.