Metlife (MET) FY2013 results: revenue $68.2 billion, up 0.1% on the year
Metlife Inc. (MET) reported revenue of $68.2 billion for fiscal 2013, the year ended 31 December 2013, up 0.1% on the year before. Net income was $3.4 billion, up 154.4%, and diluted earnings per share $2.91. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2014.
Revenue
$68.2 billion
+0.1% on the year
FY2007FY2013
Operating margin
5.9%
2.1% a year earlier
FY2007FY2013
Net income
$3.4 billion
+154.4% on the year
FY2007FY2013
Diluted EPS
$2.91
+159.8% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
68,199
68,150
70,262
+0.1%
Operating income
4,052
1,442
9,205
+181.0%
Operating margin
5.9%
2.1%
13.1%
Interest expense
854
871
975
-2.0%
Pre-tax income
4,052
1,442
9,184
+181.0%
Income tax
661
128
2,793
+416.4%
Effective tax rate
16.3%
8.9%
30.4%
Net income
3,368
1,324
6,423
+154.4%
Net margin
4.9%
1.9%
9.1%
Diluted EPS
$2.91
$1.12
$5.76
+159.8%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
16,131
17,160
10,290
-6.0%
Cash from investing
-15,165
-11,929
-22,235
Cash from financing
-8,907
35.0
9,382
Depreciation and amortisation
267
358
259
-25.4%
Share-based compensation
175
168
144
+4.2%
Buybacks
0.0
0.0
n/a
Dividends paid
1,119
811
787
+38.0%
Dividend per share
$1.01
$0.74
$0.74
+36.5%
Diluted shares, weighted
1,116m
1,077m
1,068m
+3.7%
Shares outstanding at period end
1,122m
1,092m
1,058m
+2.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
61,553
64,453
57,519
-4.5%
Non-controlling interest
543
384
370
+41.4%
Redeemable equity
887
121
n/a
+633.1%
Deposits
0.0
6,416
10,507
Short-term borrowings
175
100
686
+75.0%
Debt
18,653
n/a
23,692
Other liabilities
803,485
765,307
703,452
+5.0%
Total liabilities and equity
885,296
836,781
796,226
+5.8%
Goodwill
10,222
9,953
11,935
+2.7%
Intangible assets
801
1,108
1,264
-27.7%
Investments
296,966
318,567
292,896
-6.8%
Loans
55,767
53,926
53,777
+3.4%
Trading assets
662
659
473
+0.5%
Cash and equivalents
6,488
15,738
10,461
-58.8%
Other assets
514,390
436,830
425,420
+17.8%
Total assets
885,296
836,781
796,226
+5.8%
10-K for the year ended 31 December 2013, filed 27 February 2014: the filing.