Metlife (MET) FY2018 results: revenue $67.9 billion, up 9.0% on the year
Metlife Inc. (MET) reported revenue of $67.9 billion for fiscal 2018, the year ended 31 December 2018, up 9.0% on the year before. Net income was $5.1 billion, up 27.8%, and diluted earnings per share $4.91. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$67.9 billion
+9.0% on the year
FY2011FY2018
Operating margin
9.3%
5.7% a year earlier
FY2011FY2018
Net income
$5.1 billion
+27.8% on the year
FY2011FY2018
Diluted EPS
$4.91
+35.6% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
67,941
62,308
60,787
+9.0%
Operating income
6,307
3,536
4,281
+78.4%
Operating margin
9.3%
5.7%
7.0%
Interest expense
827
841
874
-1.7%
Pre-tax income
6,307
3,536
4,281
+78.4%
Income tax
1,179
-1,470
693
Effective tax rate
18.7%
-41.6%
16.2%
Net income
5,123
4,010
850
+27.8%
Net margin
7.5%
6.4%
1.4%
Diluted EPS
$4.91
$3.62
$0.63
+35.6%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
11,738
12,283
14,774
-4.4%
Cash from investing
-5,634
-16,876
-5,850
Cash from financing
-2,801
-906
-3,497
Depreciation and amortisation
238
258
263
-7.8%
Share-based compensation
86.0
128
147
-32.8%
Buybacks
3,992
2,927
372
+36.4%
Dividends paid
1,678
1,717
1,736
-2.3%
Dividend per share
$1.66
$1.60
$1.57
+3.7%
Diluted shares, weighted
1,014m
1,078m
1,108m
-6.0%
Shares outstanding at period end
959m
1,044m
1,096m
-8.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
52,741
58,676
67,531
-10.1%
Non-controlling interest
217
194
171
+11.9%
Redeemable equity
n/a
n/a
0.0
Short-term borrowings
268
477
242
-43.8%
Debt
12,829
15,686
16,441
-18.2%
Other liabilities
621,483
644,859
814,379
-3.6%
Total liabilities and equity
687,538
719,892
898,764
-4.5%
Goodwill
9,422
9,590
9,220
-1.8%
Intangible assets
384
459
509
-16.3%
Investments
3,937
4,870
6,523
-19.2%
Loans
75,453
68,211
64,601
+10.6%
Trading assets
12,616
16,745
0.0
-24.7%
Cash and equivalents
15,821
12,701
12,651
+24.6%
Other assets
569,905
607,316
805,260
-6.2%
Total assets
687,538
719,892
898,764
-4.5%
10-K for the year ended 31 December 2018, filed 22 February 2019: the filing.