Metlife (MET) FY2014 results: revenue $64.0 billion, down 6.2% on the year
Metlife Inc. (MET) reported revenue of $64.0 billion for fiscal 2014, the year ended 31 December 2014, down 6.2% on the year before. Net income was $6.3 billion, up 87.3%, and diluted earnings per share $5.42. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$64.0 billion
-6.2% on the year
FY2007FY2014
Operating margin
10.8%
5.9% a year earlier
FY2007FY2014
Net income
$6.3 billion
+87.3% on the year
FY2007FY2014
Diluted EPS
$5.42
+86.3% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
63,974
68,199
68,150
-6.2%
Operating income
6,883
4,052
1,442
+69.9%
Operating margin
10.8%
5.9%
2.1%
Interest expense
871
854
871
+2.0%
Pre-tax income
6,883
4,052
1,442
+69.9%
Income tax
1,936
661
128
+192.9%
Effective tax rate
28.1%
16.3%
8.9%
Net income
6,309
3,368
1,324
+87.3%
Net margin
9.9%
4.9%
1.9%
Diluted EPS
$5.42
$2.91
$1.12
+86.3%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
16,376
16,131
17,160
+1.5%
Cash from investing
-15,055
-15,165
-11,929
Cash from financing
2,256
-8,907
35.0
Depreciation and amortisation
244
267
358
-8.6%
Share-based compensation
176
175
168
+0.6%
Buybacks
1,000
0.0
0.0
Dividends paid
1,499
1,119
811
+34.0%
Dividend per share
$1.33
$1.01
$0.74
+31.7%
Diluted shares, weighted
1,142m
1,116m
1,077m
+2.4%
Shares outstanding at period end
1,132m
1,122m
1,092m
+0.9%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
72,208
61,553
64,453
+17.3%
Non-controlling interest
507
543
384
-6.6%
Redeemable equity
99.0
887
121
-88.8%
Deposits
n/a
0.0
6,416
Short-term borrowings
100
175
100
-42.9%
Debt
16,286
18,653
n/a
-12.7%
Other liabilities
813,137
803,485
765,307
+1.2%
Total liabilities and equity
902,337
885,296
836,781
+1.9%
Goodwill
9,612
10,222
9,953
-6.0%
Intangible assets
692
801
1,108
-13.6%
Investments
305,619
296,966
318,567
+2.9%
Loans
59,530
55,767
53,926
+6.7%
Trading assets
704
662
659
+6.3%
Cash and equivalents
9,205
6,488
15,738
+41.9%
Other assets
516,975
514,390
436,830
+0.5%
Total assets
902,337
885,296
836,781
+1.9%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.