METMETLIFE INC
Life Insurance
- Revenue
- $2.4B
- 8.5% YoY
- Operating margin
- 251.9%
- 5.7% YoY
- EBITDA
- $6.3B
- 2.2% YoY
- Market cap
- $63.8B
- Employees
- 46,000
- $53K revenue each
- Net debt / EBITDA
- -0.1×
- −$422M net debt
- AI in 10-K
- 0.7
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo2 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$20M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo539% of net incomeCash flow under 80% of net income
- Dilutive SBCNo5% of revenueOver 10% of revenue
- Payouts exceed cash flowNo26% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo1% of assetsOver 40% of assets
- Shareholder dissentNo95% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeYes$53K · 7th pctBottom quartile of its SIC industry
- Quiet on AINo0.7 per 10K words · 28th pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 0.1× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedNo$63.8B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$2M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $2.1B | $2.1B | $2.2B | $2.2B | $2.4B | 8.5% |
| Operating income | — | $6.0B | $5.7B | $6.0B | $6.1B | 2.4% |
| Net income | $6.4B | $2.4B | $1.4B | $4.2B | $3.2B | 25% |
| Operating cash flow | $12.3B | $13.0B | $13.7B | $14.6B | $17.1B | 17% |
| Stock-based comp | $173M | $184M | $171M | $168M | $131M | 22% |
| Buybacks | $4.3B | $3.3B | $3.1B | $3.2B | $2.9B | 10% |
| Dividends | $1.6B | $1.6B | $1.6B | $1.5B | $1.5B | 1.2% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Aug 6, 2026 | BOARD OF DIRECTORS OF METLIFE INC | SCHEDULE 13D/A | 16.1% | Passive |
| May 7, 2026 | BOARD OF DIRECTORS OF METLIFE INC | SCHEDULE 13D/A | 16.2% | Passive |
| Feb 19, 2026 | BOARD OF DIRECTORS OF METLIFE INC | SCHEDULE 13D/A | 16.2% | Passive |
| Nov 6, 2025 | BOARD OF DIRECTORS OF METLIFE INC | SCHEDULE 13D/A | 16.2% | Passive |
| Aug 7, 2025 | BOARD OF DIRECTORS OF METLIFE INC | SCHEDULE 13D/A | 16.3% | Passive |
| May 1, 2025 | BOARD OF DIRECTORS OF METLIFE INC | SCHEDULE 13D/A | 16.3% | Passive |
| Feb 20, 2025 | BOARD OF DIRECTORS OF METLIFE INC | SCHEDULE 13D/A | 16.3% | Passive |
| Nov 1, 2024 | BOARD OF DIRECTORS OF METLIFE INC | SC 13D/A | 16.2% | Passive |
| Aug 1, 2024 | BOARD OF DIRECTORS OF METLIFE INC | SC 13D/A | 16.3% | Passive |
| May 2, 2024 | BOARD OF DIRECTORS OF METLIFE INC | SC 13D/A | 16.2% | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $2M · 1
- Net
- −$2M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $22M | $14M | 196 | 201 |
| FY2024 | $20M | $30M | 198 | 190 |
| FY2023 | $21M | $15M | 155 | 158 |
| FY2022 | $18M | $33M | 164 | 151 |
| FY2021 | $17M | $33M | 137 | 137 |