Metlife (MET) FY2015 results: revenue $61.3 billion, down 4.1% on the year
Metlife Inc. (MET) reported revenue of $61.3 billion for fiscal 2015, the year ended 31 December 2015, down 4.1% on the year before. Net income was $5.4 billion, down 14.8%, and diluted earnings per share $4.62. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2016.
Revenue
$61.3 billion
-4.1% on the year
FY2008FY2015
Operating margin
9.2%
10.8% a year earlier
FY2008FY2015
Net income
$5.4 billion
-14.8% on the year
FY2008FY2015
Diluted EPS
$4.62
-14.8% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
61,343
63,974
68,199
-4.1%
Operating income
5,651
6,883
4,052
-17.9%
Operating margin
9.2%
10.8%
5.9%
Interest expense
890
871
854
+2.2%
Pre-tax income
5,651
6,883
4,052
-17.9%
Income tax
1,590
1,936
661
-17.9%
Effective tax rate
28.1%
28.1%
16.3%
Net income
5,373
6,309
3,368
-14.8%
Net margin
8.8%
9.9%
4.9%
Diluted EPS
$4.62
$5.42
$2.91
-14.8%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
14,052
16,376
16,131
-14.2%
Cash from investing
-10,398
-15,055
-15,165
Cash from financing
-1,218
2,256
-8,907
Depreciation and amortisation
271
244
267
+11.1%
Share-based compensation
137
176
175
-22.2%
Buybacks
1,930
1,000
0.0
+93.0%
Dividends paid
1,653
1,499
1,119
+10.3%
Dividend per share
$1.48
$1.33
$1.01
+10.9%
Diluted shares, weighted
1,128m
1,142m
1,116m
-1.2%
Shares outstanding at period end
1,098m
1,132m
1,122m
-3.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
68,098
72,208
61,553
-5.7%
Non-controlling interest
470
507
543
-7.3%
Redeemable equity
77.0
99.0
887
-22.2%
Deposits
n/a
n/a
0.0
Short-term borrowings
100
100
175
0.0%
Debt
17,936
16,286
18,653
+10.1%
Other liabilities
791,252
813,137
803,485
-2.7%
Total liabilities and equity
877,933
902,337
885,296
-2.7%
Goodwill
9,217
9,612
10,222
-4.1%
Intangible assets
583
692
801
-15.8%
Investments
7,467
305,619
296,966
-97.6%
Loans
59,264
59,530
55,767
-0.4%
Trading assets
404
704
662
-42.6%
Cash and equivalents
11,182
9,205
6,488
+21.5%
Other assets
789,816
516,975
514,390
+52.8%
Total assets
877,933
902,337
885,296
-2.7%
10-K for the year ended 31 December 2015, filed 25 February 2016: the filing.