MET FY 2023 Earnings Report — MetLife, Inc. Revenue & Financial Results | Market Cap Arena

MetLife, Inc.MET

FY 2023 Earnings

Reported February 15, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$67.7B	—	$68.0B	—	-0.4%
Op. Income	$2.2B	—	$6.4B	—	-66.0%
Gross Margin	25.5%	—	27.9%	—	-2.3pp
Net Margin	2.3%	—	7.8%	—	-5.4pp
EPS (Diluted)	$1.81	—	$6.30	—	-71.3%
Free Cash Flow	$14.3B	—	$11.4B	—	25.4%

Revenue Flow

Item	Amount
REVENUE	$67.7B
Cost of Revenue	$50.4B
GROSS PROFIT	$17.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$6.2B
SG&A Expenses	$6.2B
Other Expenses	$8.9B
Operating Expenses	$15.1B
Cost & Expenses	$65.5B
OPERATING INCOME	$2.2B
Interest Income	$0
Interest Expense	$1.0B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$560M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$718M
EBIT	$3.2B
EBITDA	$3.9B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$67.7B
Cost of Revenue	$50.4B
GROSS PROFIT	$17.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$6.2B
SG&A Expenses	$6.2B
Other Expenses	$8.9B
Operating Expenses	$15.1B
Cost & Expenses	$65.5B
OPERATING INCOME	$2.2B
Interest Income	$0
Interest Expense	$1.0B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$560M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$718M
EBIT	$3.2B
EBITDA	$3.9B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$10.5B
Change in Working Capital	$2.2B
OPERATING CASH FLOW	$14.3B
Capital Expenditure	$0
Acquisitions (Net)	-$755M
Purchases of Investments	-$84.3B
Sales/Maturities of Investments	$76.1B
Other Investing Activities	-$143M
NET CASH FROM INVESTING	-$10.2B
Net Debt Issuance	$875M
Common Stock Repurchased	-$3.1B
Common Dividends Paid	-$1.6B
Other Financing Activities	$1.1B
NET CASH FROM FINANCING	-$2.9B
FREE CASH FLOW	$14.3B
Net Change in Cash	$444M

Balance Sheet

Item	Amount
Cash & Equivalents	$20.6B
Short-Term Investments	$296.2B
Net Receivables	$33.8B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$350.6B
PP&E (Net)	$2.0B
Goodwill	$9.2B
Intangible Assets	$20.2B
Long-Term Investments	$144.2B
Tax Assets	$2.6B
Other Non-Current Assets	$158.8B
TOTAL NON-CURRENT ASSETS	$337.0B
TOTAL ASSETS	$687.6B
Account Payables	$0
Short-Term Debt	$119M
Deferred Revenue	$0
Other Current Liabilities	$239.9B
TOTAL CURRENT LIABILITIES	$257.6B
Long-Term Debt	$18.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$927M
Other Non-Current Liabilities	$380.1B
TOTAL NON-CURRENT LIABILITIES	$399.8B
TOTAL LIABILITIES	$657.3B
Common Stock	$12M
Additional Paid-In Capital	$33.7B
Retained Earnings	$40.1B
Treasury Stock	-$24.6B
Accum. Other Comp. Income	-$19.2B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$30.0B
Minority Interest	$238M
TOTAL EQUITY	$30.3B
TOTAL LIABILITIES & EQUITY	$687.6B
Total Debt	$18.8B
Net Debt	-$1.8B