Explain this page
Arphra AIPlain-English read on MetLife, Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Quality composite
CMixed
A snapshot of the latest fiscal year’s margins, returns on capital, balance-sheet strength and efficiency, computed from the income statement, balance sheet and cash-flow rows. Source income / balance / cash_flow.
Profitability
Gross margin36.4%
Operating margin6.0%
Net margin4.4%
ROE11.7%
ROA0.5%
ROIC12.6%
Liquidity & leverage
Current ratio0.65×
Quick ratio0.65×
Debt / equity0.70×
Net debt / EBITDA-0.32×
Interest coverage4×
Efficiency & per-share
Asset turnover0.10×
Inventory days0
Days sales out.257
FCF / share$27.23
Book value / share$43.49
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | $56.43B | $52.49B | — | — | — | — |
| Enterprise value | — | — | — | $55.08B | $50.64B | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | 0.79 | 0.66 | — | — | — | — |
| EV / FCF | — | — | — | 3.64 | 2.80 | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | +7.84% | +6.44% | — | — | — | — |
| Free cash flow yield | — | — | — | +26.79% | +34.49% | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +26.57% | +27.86% | +25.53% | +27.17% | +36.36% | +30.54% | +30.49% | +29.01% | +29.75% |
| Operating margin | +13.44% | +9.36% | +3.19% | +8.04% | +6.05% | +5.75% | +5.69% | +5.92% | +5.59% |
| EBITDA margin | +15.99% | +11.73% | +5.80% | +10.54% | +7.42% | +7.90% | +7.97% | +7.97% | +7.85% |
| EBIT margin | +14.89% | +10.74% | +4.74% | +9.52% | +7.42% | +7.11% | +7.02% | +7.36% | +7.14% |
| Pre-tax margin | +13.44% | +9.36% | +3.19% | +8.04% | +6.05% | +5.64% | +5.73% | +5.60% | +5.61% |
| Net margin | +10.82% | +7.77% | +2.33% | +6.33% | +4.38% | +4.42% | +4.37% | +4.40% | +4.35% |
| Cost structure | |||||||||
| Cost of revenue / sales | +73.43% | +72.14% | +74.47% | +72.83% | +63.64% | +69.15% | +69.86% | +71.47% | +68.63% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +9.08% | +8.62% | +9.12% | +8.57% | 0.00% | +5.90% | +5.80% | +6.04% | +5.82% |
| Effective tax rate | +19.28% | +16.69% | +25.90% | +20.95% | +26.99% | +25.38% | +24.46% | +25.94% | +25.53% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +10.12% | +17.54% | +5.22% | +15.98% | +11.68% | +11.07% | +10.57% | +11.12% | +10.55% |
| Return on assets (ROA) | +0.90% | +0.80% | +0.23% | +0.65% | +0.45% | +0.46% | +0.45% | +0.46% | +0.44% |
| Return on capital (ROC) | +10.00% | +13.23% | +4.40% | +12.11% | +9.49% | +8.64% | +8.25% | +8.81% | +8.15% |
| Return on invested capital (ROIC) | +8.05% | +10.98% | +3.22% | +9.54% | +6.88% | +6.64% | +6.35% | +6.54% | +6.34% |
| Asset turnover | +8.34% | +10.25% | +9.85% | +10.32% | +10.34% | +10.40% | +10.18% | +10.41% | +10.04% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +10.82% | +7.77% | +2.33% | +6.33% | +4.38% | +4.42% | +4.37% | +4.40% | +4.35% |
| Asset turnover (× revenue / assets) | +8.34% | +10.25% | +9.85% | +10.32% | +10.34% | +10.40% | +10.18% | +10.41% | +10.04% |
| Equity multiplier (× assets / equity) | +1121.36% | +2201.07% | +2272.78% | +2445.43% | +2576.56% | +2407.87% | +2373.22% | +2427.30% | +2414.88% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.08 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 |
| Fixed-asset turnover | — | 35.29 | 33.97 | 37.78 | 45.40 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 3.09 | 3.07 | 2.00 | 2.04 | 1.42 | — | — | — | — |
| Payables turnover | — | — | — | — | — | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 118.19 | 119.06 | 182.12 | 178.79 | 256.89 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | — | — | — | — | — | — | — | — | — |
| Cash conversion cycle | 118.19 | 119.06 | 182.12 | 178.79 | 256.89 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.87 | 2.15 | 9.04 | 3.42 | 5.36 | 4.89 | 5.08 | 4.91 | 5.01 |
| FCF / Net income | 1.87 | 2.15 | 9.04 | 3.42 | 5.36 | 4.96 | 5.00 | 4.99 | 4.92 |
| FCF margin | +20.24% | +16.73% | +21.06% | +21.61% | +23.49% | +21.94% | +21.89% | +21.98% | +21.41% |
| OCF margin | +20.24% | +16.73% | +21.06% | +21.61% | +23.49% | +21.61% | +22.22% | +21.63% | +21.81% |
| CapEx / Revenue | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| CapEx / D&A | — | — | — | — | 0.00 | — | — | — | — |
| Stock-based comp / Revenue | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 7.65 | 6.30 | 1.81 | 5.94 | 4.80 | 9.92 | 10.99 | 12.25 | 13.50 |
| EPS · basic | 7.70 | 6.35 | 1.82 | 5.98 | 4.80 | 9.90 | 10.92 | 12.47 | 13.52 |
| Book value / share | 77.93 | 37.24 | 39.68 | 38.96 | 43.49 | 48.39 | 52.48 | 52.71 | 57.60 |
| Tangible BV / share | 48.49 | 1.45 | 1.14 | -1.16 | -2.71 | 48.39 | 52.48 | 52.71 | 57.60 |
| Sales / share | 72.88 | 84.02 | 88.81 | 98.35 | 115.92 | 121.18 | 126.82 | 133.17 | 139.70 |
| Operating CF / share | 14.75 | 14.06 | 18.70 | 21.26 | 27.23 | 26.19 | 28.18 | 28.80 | 30.46 |
| Free cash flow / share | 14.75 | 14.06 | 18.70 | 21.26 | 27.23 | 26.59 | 27.76 | 29.27 | 29.91 |
| Dividends / share | 1.89 | 1.98 | 2.05 | 2.15 | 2.27 | 2.63 | 2.66 | 2.83 | 3.00 |
| Payout ratio | +24.03% | +30.24% | +99.24% | +34.50% | +44.66% | +49.17% | +47.93% | +48.25% | +49.34% |
| Retention ratio | +75.97% | +69.76% | +0.76% | +65.50% | +55.34% | +50.83% | +52.07% | +51.75% | +50.66% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +7.26% | -0.38% | +3.29% | +10.22% | +4.31% | +4.24% | +4.90% | +5.65% | +4.90% |
| Gross profit · YoY | — | +12.48% | -8.70% | +9.89% | +47.50% | -12.39% | +4.08% | -0.18% | +8.33% | +6.39% |
| Profit | ||||||||||
| Operating income · YoY | — | -25.29% | -66.03% | +160.04% | -17.09% | -0.82% | +3.12% | +9.22% | -0.20% | -5.99% |
| EBITDA · YoY | — | -21.29% | -50.78% | +87.85% | -22.39% | +11.00% | +5.18% | +4.82% | +4.18% | -4.02% |
| Net income · YoY | — | -22.92% | -70.14% | +180.48% | -23.66% | +5.19% | +3.15% | +5.53% | +4.45% | -6.39% |
| Operating | ||||||||||
| EBIT · YoY | — | -22.63% | -56.08% | +107.64% | -14.07% | -0.04% | +2.87% | +9.97% | +2.43% | -4.32% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -17.65% | -71.27% | +228.18% | -19.19% | +106.58% | +10.83% | +11.48% | +10.20% | +7.36% |
| EPS · basic · YoY | — | -17.53% | -71.34% | +228.57% | -19.73% | +106.18% | +10.34% | +14.24% | +8.42% | +7.29% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $17.43B | $17.98B | $18.83B | $18.72B | $20.18B | $21.4B | $23.09B | $24.32B | $25.44B |
| Net debt | -$2.62B | -$2.22B | -$1.81B | -$1.35B | -$1.85B | -$1.78B | -$1.11B | -$752.57M | -$1.69B |
| Net debt / EBITDA | -0.26 | -0.28 | -0.46 | -0.18 | -0.32 | -0.28 | -0.17 | -0.11 | -0.23 |
| Debt / equity | 0.26 | 0.60 | 0.62 | 0.68 | 0.70 | 0.67 | 0.67 | 0.70 | 0.66 |
| Debt / assets | +2.29% | +2.71% | +2.74% | +2.76% | +2.71% | +2.77% | +2.81% | +2.88% | +2.75% |
| Equity / assets | +8.92% | +4.54% | +4.40% | +4.09% | +3.88% | +4.15% | +4.21% | +4.12% | +4.14% |
| Coverage | |||||||||
| EBITDA / interest expense | 11.01 | 8.50 | 3.76 | 7.11 | 5.39 | 5.40 | 5.49 | 5.47 | 5.25 |
| Operating income / interest | 9.26 | 6.78 | 2.07 | 5.42 | 4.39 | 3.93 | 3.92 | 4.07 | 3.74 |
| Interest expense | $920M | $938M | $1.05B | $1.04B | $1.06B | $1.18B | $1.22B | $1.28B | $1.39B |
| Liquidity | |||||||||
| Current ratio | 1.47 | 1.34 | 1.36 | 0.55 | 0.65 | — | — | — | — |
| Quick ratio | 1.47 | 1.34 | 1.36 | 0.55 | 0.65 | — | — | — | — |
| Cash ratio | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | — | — | — | — |
| Working capital | $124.84B | $84.41B | $93.04B | -$115.03B | -$96.55B | — | — | — | — |
| Working capital / revenue | +197.01% | +124.19% | +137.41% | -164.47% | -125.25% | — | — | — | — |
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| P / E | — | — |
| P / B | — | — |
| EV / EBITDA | — | — |
| EV / Sales | 0.66x | 0.79x |
| Earnings yield | 6.4% | 7.8% |
| FCF yield | 34.5% | 26.8% |
Returns
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | — | — |
| ROE | 11.9% | 16.1% |
| ROA | 0.5% | 0.7% |
| ROIC | 0.7% | 1.1% |
Leverage & liquidity
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Debt / equity | — | — |
| Net debt / EBITDA | -0.32 | -0.18 |
| Interest coverage | — | — |
| Current ratio | 0.65x | 0.55x |
| Quick ratio | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).