Metlife (MET) FY2017 results: revenue $62.3 billion, up 2.5% on the year
Metlife Inc. (MET) reported revenue of $62.3 billion for fiscal 2017, the year ended 31 December 2017, up 2.5% on the year before. Net income was $4.0 billion, up 371.8%, and diluted earnings per share $3.62. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2018.
Revenue
$62.3 billion
+2.5% on the year
FY2010FY2017
Operating margin
5.7%
7.0% a year earlier
FY2010FY2017
Net income
$4.0 billion
+371.8% on the year
FY2010FY2017
Diluted EPS
$3.62
+474.6% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
62,308
60,787
61,343
+2.5%
Operating income
3,536
4,281
5,651
-17.4%
Operating margin
5.7%
7.0%
9.2%
Interest expense
841
874
890
-3.8%
Pre-tax income
3,536
4,281
5,651
-17.4%
Income tax
-1,470
693
1,590
Effective tax rate
-41.6%
16.2%
28.1%
Net income
4,010
850
5,373
+371.8%
Net margin
6.4%
1.4%
8.8%
Diluted EPS
$3.62
$0.63
$4.62
+474.6%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
12,283
14,774
14,052
-16.9%
Cash from investing
-16,876
-5,850
-10,398
Cash from financing
-906
-3,497
-1,218
Depreciation and amortisation
258
263
271
-1.9%
Share-based compensation
128
147
137
-12.9%
Buybacks
2,927
372
1,930
+686.8%
Dividends paid
1,717
1,736
1,653
-1.1%
Dividend per share
$1.60
$1.57
$1.48
+1.6%
Diluted shares, weighted
1,078m
1,108m
1,128m
-2.7%
Shares outstanding at period end
1,044m
1,096m
1,098m
-4.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
58,676
67,531
68,098
-13.1%
Non-controlling interest
194
171
470
+13.5%
Redeemable equity
n/a
0.0
77.0
Short-term borrowings
477
242
100
+97.1%
Debt
15,686
16,441
17,936
-4.6%
Other liabilities
644,859
814,379
791,252
-20.8%
Total liabilities and equity
719,892
898,764
877,933
-19.9%
Goodwill
9,590
9,220
9,217
+4.0%
Intangible assets
459
509
583
-9.8%
Investments
4,870
6,523
7,467
-25.3%
Loans
68,211
64,601
59,264
+5.6%
Trading assets
16,745
0.0
404
Cash and equivalents
12,701
12,651
11,182
+0.4%
Other assets
607,316
805,260
789,816
-24.6%
Total assets
719,892
898,764
877,933
-19.9%
10-K for the year ended 31 December 2017, filed 1 March 2018: the filing.