MET FY 2025 Earnings Report — MetLife, Inc. Revenue & Financial Results | Market Cap Arena

MetLife, Inc.MET

FY 2025 Earnings

Reported February 19, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$77.1B	—	$69.9B	—	10.2%
Op. Income	$4.7B	—	$5.6B	—	-17.1%
Gross Margin	36.4%	—	27.2%	—	9.2pp
Net Margin	4.4%	—	6.3%	—	-1.9pp
EPS (Diluted)	$4.80	—	$5.94	—	-19.2%
Free Cash Flow	$18.1B	—	$15.1B	—	19.8%

Revenue Flow

Item	Amount
REVENUE	$77.1B
Cost of Revenue	$49.1B
GROSS PROFIT	$28.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$23.4B
Operating Expenses	$23.4B
Cost & Expenses	$72.4B
OPERATING INCOME	$4.7B
Interest Income	$0
Interest Expense	$1.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$4.7B
Income Tax Expense	$1.3B
Net Income from Continuing Ops	$3.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.2B
D&A	$0
EBIT	$5.7B
EBITDA	$5.7B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$77.1B
Cost of Revenue	$49.1B
GROSS PROFIT	$28.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$23.4B
Operating Expenses	$23.4B
Cost & Expenses	$72.4B
OPERATING INCOME	$4.7B
Interest Income	$0
Interest Expense	$1.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$4.7B
Income Tax Expense	$1.3B
Net Income from Continuing Ops	$3.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.2B
D&A	$0
EBIT	$5.7B
EBITDA	$5.7B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$3.4B
Depreciation & Amortization	$753M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$7.1B
Change in Working Capital	$6.8B
OPERATING CASH FLOW	$18.1B
Capital Expenditure	$0
Acquisitions (Net)	-$738M
Purchases of Investments	-$105.7B
Sales/Maturities of Investments	$92.9B
Other Investing Activities	-$2.0B
NET CASH FROM INVESTING	-$15.6B
Net Debt Issuance	-$566M
Common Stock Repurchased	-$3.9B
Common Dividends Paid	-$1.5B
Other Financing Activities	$6.3B
NET CASH FROM FINANCING	$163M
FREE CASH FLOW	$18.1B
Net Change in Cash	$2.0B

Balance Sheet

Item	Amount
Cash & Equivalents	$22.0B
Short-Term Investments	$103.3B
Net Receivables	$54.3B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$179.6B
PP&E (Net)	$1.7B
Goodwill	$9.6B
Intangible Assets	$21.1B
Long-Term Investments	$362.8B
Tax Assets	$2.6B
Other Non-Current Assets	$167.8B
TOTAL NON-CURRENT ASSETS	$565.6B
TOTAL ASSETS	$745.2B
Account Payables	$0
Short-Term Debt	$1.6B
Deferred Revenue	$0
Other Current Liabilities	$257.5B
TOTAL CURRENT LIABILITIES	$276.1B
Long-Term Debt	$18.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$536M
Other Non-Current Liabilities	$420.9B
TOTAL NON-CURRENT LIABILITIES	$440.1B
TOTAL LIABILITIES	$716.2B
Common Stock	$12M
Additional Paid-In Capital	$32.9B
Retained Earnings	$44.3B
Treasury Stock	-$30.7B
Accum. Other Comp. Income	-$18.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$28.4B
Minority Interest	$523M
TOTAL EQUITY	$28.9B
TOTAL LIABILITIES & EQUITY	$745.2B
Total Debt	$20.2B
Net Debt	-$1.8B