# MetLife, Inc. (MET) — Stock CV

MetLife, Inc. is a $62.5B financial services company. Revenue grew 8.7% over the last year, and it keeps 5¢ of every dollar of sales as profit. It trades at 17.2× earnings — around the middle of its own history.

> MetLife is one of the largest life insurers in the US by assets and provides a variety of life insurance and annuity products. It is organized into six segments: group benefits, retirement and income solutions, Asia, Latin America, Europe/Middle East/Africa (EMEA), and MetLife Investment Managenent.

## Identity

- **Ticker**: MET
- **Sector**: Financial Services
- **Industry**: Life Insurance
- **Headquarters**: NEW YORK, NY
- **Employees**: 46 000
- **Website**: https://www.metlife.com
- **Market cap**: $62.5B
- **Last price**: $98.33
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $79.4B
- **Net income**: $3.63B
- **Free cash flow**: $15.6B
- **Net cash**: $25.3B
- **P/E**: 17.2
- **Revenue growth (YoY)**: 8.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 82 |
| Growth | 31 |
| Profitability | 48 |
| Health | 46 |
| Quality | 55 |
| Moat | 25 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +8.7% YoY
- [x] Profitable — $3.63B TTM
- [ ] Profit growing — -8.4% YoY
- [x] Generates cash — $15.6B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $62.5B market cap
- [x] Not printing shares — -17.5% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — Altman Z 0.1 — distress
- [x] Pays a dividend — yield 2.69%
- [x] Valuation not extreme — P/E 17.2

## Experience (career milestones)

- **FY2021** — Best year on record: $6.55B net income
- **2019** — MetLife acquired PetFirst Healthcare, renaming it to MetLife Pet Insurance Solutions
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $50B: $63.5B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2015** — MetLife was ranked as number one on Fortune magazine's list of World's Most Admired Companies in the…
- **2014** — MetLife launched MetLife Defender, a digital identity theft protection product
- **2009** — MetLife is among the largest providers of annuities in the world, recording $22.4 billion in sales during 2009
- **2004** — From 2004 to 2011, MetLife continued to hold its position as the largest life insurer in the United States
- **2000** — After 85 years as a mutual company, MetLife demutualized into a publicly traded company with an initial public…
- **1981** — MetLife purchased the Pan Am Building from a group that included Pan American World Airways for the price…
- **1972** — The flagship company in the MetLife Auto & Home group, Metropolitan Property and Casualty Insurance Company, was…
- **1921** — MetLife was the first company to issue a group annuity contract
- **1909** — MetLife had become the nation's largest life insurer in the United States

## Strengths

- Strong cash conversion — FCF is 19.6% of revenue
- Net cash position after subtracting debt from cash
- Interest covered 5.8× by operating earnings
- High returns on invested capital (ROIC 108.3%)

## Watch-outs

- Altman Z-Score 0.15 — elevated financial-distress risk

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $71.1B | $6.55B | $12.6B |
| FY2022 | $69.9B | $2.54B | $13.2B |
| FY2023 | $66.9B | $1.58B | $13.7B |
| FY2024 | $71.0B | $4.43B | $14.6B |
| FY2025 | $77.1B | $3.38B | $17.1B |

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Source: https://stockcv.com/MET — derived from company filings; may be delayed or incomplete. Information, not investment advice.