Metlife (MET) FY2016 results: revenue $60.8 billion, down 0.9% on the year
Metlife Inc. (MET) reported revenue of $60.8 billion for fiscal 2016, the year ended 31 December 2016, down 0.9% on the year before. Net income was $850 million, down 84.2%, and diluted earnings per share $0.63. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2017.
Revenue
$60.8 billion
-0.9% on the year
FY2009FY2016
Operating margin
7.0%
9.2% a year earlier
FY2009FY2016
Net income
$850 million
-84.2% on the year
FY2009FY2016
Diluted EPS
$0.63
-86.4% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
60,787
61,343
63,974
-0.9%
Operating income
4,281
5,651
6,883
-24.2%
Operating margin
7.0%
9.2%
10.8%
Interest expense
874
890
871
-1.8%
Pre-tax income
4,281
5,651
6,883
-24.2%
Income tax
693
1,590
1,936
-56.4%
Effective tax rate
16.2%
28.1%
28.1%
Net income
850
5,373
6,309
-84.2%
Net margin
1.4%
8.8%
9.9%
Diluted EPS
$0.63
$4.62
$5.42
-86.4%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
14,774
14,052
16,376
+5.1%
Cash from investing
-5,850
-10,398
-15,055
Cash from financing
-3,497
-1,218
2,256
Depreciation and amortisation
263
271
244
-3.0%
Share-based compensation
147
137
176
+7.3%
Buybacks
372
1,930
1,000
-80.7%
Dividends paid
1,736
1,653
1,499
+5.0%
Dividend per share
$1.57
$1.48
$1.33
+6.8%
Diluted shares, weighted
1,108m
1,128m
1,142m
-1.8%
Shares outstanding at period end
1,096m
1,098m
1,132m
-0.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
67,531
68,098
72,208
-0.8%
Non-controlling interest
171
470
507
-63.6%
Redeemable equity
0.0
77.0
99.0
Short-term borrowings
242
100
100
+142.0%
Debt
16,441
17,936
16,286
-8.3%
Other liabilities
814,379
791,252
813,137
+2.9%
Total liabilities and equity
898,764
877,933
902,337
+2.4%
Goodwill
9,220
9,217
9,612
+0.0%
Intangible assets
509
583
692
-12.7%
Investments
6,523
7,467
305,619
-12.6%
Loans
64,601
59,264
59,530
+9.0%
Trading assets
0.0
404
704
Cash and equivalents
12,651
11,182
9,205
+13.1%
Other assets
805,260
789,816
516,975
+2.0%
Total assets
898,764
877,933
902,337
+2.4%
10-K for the year ended 31 December 2016, filed 1 March 2017: the filing.