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Metlife
(NYSE:MET)
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Rating:79Outperform
Price Target:
$112.00
â–²(16.82% Upside)
Action:Reiterated
Date:08/18/26
The score is driven primarily by strong financial quality (notably robust and improving cash generation) and a positive earnings-call outlook highlighted by reiterated targets and significant capital returns. Technicals are also supportive with a clear uptrend and positive momentum. Valuation is acceptable but not especially inexpensive, and near-term investment spread/variable investment income softness is the main risk tempering the score.
Positive Factors
Strong Cash Generation
MetLife’s rising operating and free cash flow indicate strong earnings conversion and provide internal funding for dividends, buybacks, capital needs, and growth. This cash-generation capability strengthens financial flexibility and supports shareholder returns across insurance and investment cycles.
Negative Factors
Investment Spread Pressure
Below-guidance investment spreads can reduce earnings from retirement and other spread-sensitive products, particularly when private equity and real estate returns are weak. Because investment income is a major insurer earnings driver, persistent spread pressure could constrain profitability and capital-generation momentum.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Cash Generation
MetLife’s rising operating and free cash flow indicate strong earnings conversion and provide internal funding for dividends, buybacks, capital needs, and growth. This cash-generation capability strengthens financial flexibility and supports shareholder returns across insurance and investment cycles.
Read all positive factors
Metlife Key Performance Indicators (KPIs)
Any
Assets Under Management
Totals the investments MetLife manages for itself and clients, indicating the scale of its investment operations and potential fee or investment income. Larger AUM can boost earnings but also increases sensitivity to market and interest-rate moves that affect asset values and capital requirements.
Totals the investments MetLife manages for itself and clients, indicating the scale of its investment operations and potential fee or investment income. Larger AUM can boost earnings but also increases sensitivity to market and interest-rate moves that affect asset values and capital requirements.
Data provided by:
The Fly
The FlyMetlife (MET) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$62.80B
Dividend Yield2.35%
Average Volume (3M)3.13M
Price to Earnings (P/E)18.8
Beta (1Y)0.93
Revenue Growth8.96%
EPS Growth-11.62%
CountryUS
Employees46,000
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)5.25
Shares Outstanding635,476,900
10 Day Avg. Volume2,850,676
30 Day Avg. Volume3,132,988
Financial Highlights & Ratios
PEG Ratio-0.83
Price to Book (P/B)1.85
Price to Sales (P/S)0.68
P/FCF Ratio2.90
Enterprise Value/Market Cap1.22
Enterprise Value/Revenue0.98
Enterprise Value/Gross Profit3.83
Enterprise Value/Ebitda12.90
Forecast
1Y Price Target
$111.55Price Target Upside16.35% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)10.23
Revenue Forecast (FY)$79.39B
Metlife Business Overview & Revenue Model
Company Description
MetLife, Inc. operates as a leading global financial services entity, delivering an extensive array of services encompassing insurance, annuities, employee benefits, and asset management. The company manages its operations through five primary div...
How the Company Makes Money
MetLife primarily makes money by underwriting insurance and providing benefit and retirement-related products while investing the premiums it collects. Key revenue and earnings drivers include: (1) Premiums and risk-based underwriting margins: For...
Metlife Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call conveyed strong, broad-based operational performance and capital returns: adjusted earnings and EPS grew meaningfully, ROE reached the top of the target range, multiple regions delivered double-digit growth (notably Group, Asia and Latin America), AUM grew to $748 billion, and the company announced a new $3 billion buyback while maintaining a healthy holding-company cash buffer. Offsetting risks include below-guidance total spreads driven by weak private equity returns and lower-than-run-rate variable investment income, a lighter and lumpy PRT market in H1, some normalization expected in favorable Group mortality experience, and a short-term earnings impact from mark-to-market items and the PineBridge expense footprint. Overall, positive operational momentum and capital flexibility outweigh the near-term investment and market headwinds.Positive Updates
Strong Adjusted Earnings and EPS Growth
Adjusted earnings of approximately $1.6 billion ($2.43 per share); adjusted earnings rose 15% year-over-year and adjusted EPS increased 20% year-over-year.
Negative Updates
Normalization Risk in Group Mortality Favorability
Group Life mortality ratio improved to 79% driven in part by about 2 points of prior period development and lower-than-expected severity; management expects some normalization heading into the rest of the year.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Adjusted Earnings and EPS Growth
Adjusted earnings of approximately $1.6 billion ($2.43 per share); adjusted earnings rose 15% year-over-year and adjusted EPS increased 20% year-over-year.
Read all positive updates
Company Guidance
MetLife reiterated its 2026 targets and near‑term expectations, highlighting an annual adjusted ROE target of 15–17% (Q2 at 17%), a 2026 direct expense‑ratio target of 12.1% (Q2 = 12.1% and they expect to beat the full‑year target), MIM adjusted‑earnings guidance of $240–$280M (likely toward the low end) with total AUM of $748B, and RIS spread guidance (core spread ~100 bps; total spread Q2 = 97 bps vs. prior 100–120 bps guidance). Other metrics/guidance included retained‑liability growth of 3–5% (Q2 = +3% Y/Y), holding‑company cash buffer $3–$4B (Q2 cash $3.4B), a new $3B share‑repurchase authorization (Q2 repurchases ≈ $700M; YTD returns >$2.4B and ~$1.1B returned in Q2), estimated U.S. statutory adjusted capital (NAIC) ≈ $16.4B, Japan ESR expected at the top end of a 170–190% range, a Q2 pretax variable investment income run‑rate of $231M (PE avg return 0.8%, real estate/other 1.1% with stronger PE returns expected in Q3), and an effective tax‑rate outlook of ~24–26% (Q2 was 23%).Metlife Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
80
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 78.65B | 77.08B | 69.94B | 67.71B | 67.97B | 63.37B |
| Gross Profit | 20.10B | 28.02B | 19.00B | 17.29B | 18.94B | 16.84B |
| EBITDA | 5.96B | 6.47B | 7.37B | 3.92B | 7.97B | 10.13B |
| Net Income | 3.63B | 3.38B | 4.43B | 1.58B | 5.28B | 6.86B |
Balance Sheet | ||||||
| Total Assets | 759.37B | 745.17B | 677.46B | 687.58B | 663.07B | 759.71B |
| Cash, Cash Equivalents and Short-Term Investments | 129.53B | 125.34B | 108.78B | 316.83B | 313.32B | 367.50B |
| Total Debt | 21.34B | 20.18B | 18.71B | 18.83B | 17.98B | 17.43B |
| Total Liabilities | 731.41B | 716.25B | 649.75B | 657.33B | 632.95B | 691.96B |
| Stockholders Equity | 27.44B | 28.40B | 27.45B | 30.02B | 29.88B | 67.48B |
Cash Flow | ||||||
| Free Cash Flow | 16.57B | 18.11B | 15.12B | 14.26B | 11.37B | 12.83B |
| Operating Cash Flow | 16.57B | 18.11B | 15.12B | 14.26B | 11.37B | 12.83B |
| Investing Cash Flow | -23.63B | -15.61B | -11.49B | -10.25B | -2.62B | -11.19B |
| Financing Cash Flow | 5.27B | 163.00M | -3.13B | -2.94B | -9.95B | -1.38B |
Metlife Technical Analysis
Positive
95.87
Price Trends
97.26
Positive
93.91
Positive
84.52
Positive
Market Momentum
1.30
Negative
50.37
Neutral
70.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MET, the sentiment is Positive. The current price of 95.87 is below the 20-day moving average (MA) of 98.37, below the 50-day MA of 97.26, and above the 200-day MA of 84.52, indicating a bullish trend. The MACD of 1.30 indicates Negative momentum. The RSI at 50.37 is Neutral, neither overbought nor oversold. The STOCH value of 70.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MET.
Metlife Risk Analysis
Metlife disclosed 46 risk factors in its most recent earnings report. Metlife reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Metlife Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $62.80B | 18.82 | 12.94% | 2.35% | 8.96% | -11.62% | |
76 Outperform | $14.29B | 21.04 | 6.43% | 2.09% | 3.34% | -48.74% | |
72 Outperform | $60.42B | 12.93 | 16.42% | 2.00% | 13.57% | 110.75% | |
70 Outperform | $39.67B | 10.31 | 12.00% | 4.83% | 9.38% | 144.26% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $7.63B | 3.32 | 21.99% | 4.52% | 12.32% | 97.86% | |
58 Neutral | $8.68B | 16.05 | 12.63% | 1.96% | 3.16% | 18.32% |
* Financial Sector Average
MET
Metlife
98.82
22.14
28.87%
AFL
AFLAC
120.51
15.16
14.39%
LNC
Lincoln National
39.84
1.33
3.44%
PRU
Prudential Financial
114.99
17.92
18.46%
UNM
Unum Group
90.28
15.82
21.25%
VOYA
Voya Financial
95.81
23.86
33.15%
Metlife Corporate Events
Financial DisclosuresRegulatory Filings and Compliance
MetLife Announces Preliminary Variable Investment Income Update
Neutral
Sep 24, 2026
MetLife disclosed preliminary variable investment income for the quarter ended September 30, 2026, ahead of its scheduled earnings release on November 4, 2026. The company estimates at least $600 million in pre-tax variable investment income for t...
Business Operations and StrategyDividends
MetLife Declares Q3 2026 Dividends on Preferred Stock
Positive
Aug 17, 2026
On August 17, 2026, MetLife, Inc. declared third quarter 2026 dividends on multiple series of its non-cumulative preferred stock, including floating rate Series A and fixed-to-floating Series D, as well as Series E and Series F represented by depo...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
MetLife posts strong Q2 results and boosts buybacks
Positive
Aug 5, 2026
On August 5, 2026, MetLife reported second-quarter 2026 results showing continued momentum under its New Frontier strategy, with net income rising 1% year-on-year to $705 million, or $1.09 per share. Adjusted earnings climbed 15% to $1.6 billion a...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.