Metlife (MET) FY2011 results: revenue $70.3 billion, up 34.5% on the year
Metlife Inc. (MET) reported revenue of $70.3 billion for fiscal 2011, the year ended 31 December 2011, up 34.5% on the year before. Net income was $6.4 billion, up 140.8%, and diluted earnings per share $5.76. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2012.
Revenue
$70.3 billion
+34.5% on the year
FY2007FY2011
Operating margin
13.1%
7.1% a year earlier
FY2007FY2011
Net income
$6.4 billion
+140.8% on the year
FY2007FY2011
Diluted EPS
$5.76
+101.4% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
70,262
52,247
40,645
+34.5%
Operating income
9,205
3,729
-4,615
+146.8%
Operating margin
13.1%
7.1%
-11.4%
Interest expense
975
1,550
1,044
-37.1%
Pre-tax income
9,184
3,729
-4,615
+146.3%
Income tax
2,793
1,110
-2,106
+151.6%
Effective tax rate
30.4%
29.8%
n/a
Net income
6,423
2,667
-2,411
+140.8%
Net margin
9.1%
5.1%
-5.9%
Diluted EPS
$5.76
$2.86
-$3.09
+101.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
10,290
7,996
3,803
+28.7%
Cash from investing
-22,235
-18,314
-13,935
Cash from financing
9,382
13,381
-4,103
-29.9%
Depreciation and amortisation
259
193
n/a
+34.2%
Share-based compensation
144
84.0
69.0
+71.4%
Buybacks
n/a
0.0
0.0
Dividends paid
787
784
610
+0.4%
Dividend per share
$0.74
$0.74
$0.74
0.0%
Diluted shares, weighted
1,068m
890m
818m
+20.1%
Shares outstanding at period end
1,058m
986m
819m
+7.3%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
57,519
46,853
33,121
+22.8%
Non-controlling interest
370
365
377
+1.4%
Deposits
10,507
10,316
10,211
+1.9%
Short-term borrowings
686
306
912
+124.2%
Debt
23,692
27,586
13,220
-14.1%
Other liabilities
703,452
642,823
481,473
+9.4%
Total liabilities and equity
796,226
728,249
539,314
+9.3%
Goodwill
11,935
11,781
5,047
+1.3%
Intangible assets
1,264
1,094
792
+15.5%
Investments
292,896
9,387
8,374
+3,020.2%
Loans
53,777
52,136
n/a
+3.1%
Trading assets
473
463
420
+2.2%
Cash and equivalents
10,461
12,957
10,024
-19.3%
Other assets
425,420
640,431
514,657
-33.6%
Total assets
796,226
728,249
539,314
+9.3%
10-K for the year ended 31 December 2011, filed 28 February 2012: the filing.