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Metlife (MET) Q4 FY2021 earnings: revenue $20.1 billion, up 3.5% on the year

Metlife Inc. (MET) reported revenue of $20.1 billion for Q4 FY2021, the quarter ended 31 December 2021, up 3.5% on the same quarter a year earlier. Net income was $1.2 billion, up 662.7% on the year, and diluted earnings per share $1.38. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2022.

Revenue
$20.1 billion
+3.5% on the year · +18.8% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
6.5%
0.8% a year earlier
Q1 FY2020Q4 FY2021
Net income
$1.2 billion
+662.7% on the year · -23.9% on the quarter
Q1 FY2020Q4 FY2021
Diluted EPS
$1.38
+885.7% on the year · -22.0% on the quarter
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue20,08916,90519,418+18.8%+3.5%
Operating income1,3062,042164-36.0%+696.3%
Operating margin6.5%12.1%0.8%
Pre-tax income1,306n/an/a
Income tax95.0n/an/a
Effective tax rate7.3%n/an/a
Net income1,2051,584158-23.9%+662.7%
Net margin6.0%n/an/a
Diluted EPS$1.38$1.77$0.14-22.0%+885.7%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free 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

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow5,340n/an/a
Cash from investing-2,862n/an/a
Cash from financing-1,335n/an/a
Buybacks1,176n/an/a
Dividends paid405n/an/a
Diluted shares, weighted869m861mn/a+1.0%
Shares outstanding at period end826m845m893m-2.2%-7.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity67,48269,05074,558-2.3%-9.5%
Non-controlling interest267n/an/a
Short-term borrowings341n/an/a
Debt13,93314,01014,603-0.5%-4.6%
Other liabilities677,685n/an/a
Total liabilities and equity759,708n/an/a
Goodwill9,535n/an/a
Intangible assets972n/an/a
Investments7,176n/an/a
Loans79,226n/an/a
Trading assets12,142n/an/a
Cash and equivalents20,04718,95619,795+5.8%+1.3%
Other assets630,610n/an/a
Total assets759,708n/an/a

Questions

What was Metlife's revenue in Q4 FY2021?

Metlife (MET) reported revenue of $20.1 billion for Q4 FY2021, the quarter ended 31 December 2021, up 3.5% on the same quarter a year earlier.

How much did Metlife earn in Q4 FY2021?

Net income for Q4 FY2021 was $1.2 billion, up 662.7% on the year, and diluted earnings per share $1.38.

When did Metlife report Q4 FY2021 results?

Metlife filed its 10-K for the year that ended with the quarter on 18 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022 †Q2 FY2022 †Q3 FY2022 †Q4 FY2022Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue20,08915,40515,47422,27015,60815,38816,62315,86619,02816,05717,82318,44018,66618,56917,34017,36123,81419,07419,15420,522
Operating income1,3061,9359881,4022,0262574305349411,4011,6621,4421,4911,4151,3931,6501,6791,6311,6041,826
Operating margin7%13%6%6%13%2%3%3%5%9%9%8%8%8%8%10%7%9%8%9%
Pre-tax income1,3061,9359881,4151,7272574305349411,0451,2021,9941,3811,3549801,2101,1171,5071,0353,000
Tax rate7%15%7%18%22%67%5%7%35%16%21%33%8%30%25%25%27%23%25%20%
Net income1,2051,6349101,1621,57880.04024896078679461,3421,2719457298968091,1857362,397
Net margin6%11%6%5%10%1%2%3%3%5%5%7%7%5%4%5%3%6%4%12%
Diluted EPS$1.38$1.89$1.08$1.37$1.96$0.02$0.48$0.56$0.77$1.10$1.28$1.81$1.75$1.28$1.03$1.22$1.18$1.74$1.09$3.67
Operating cash flow5,3402,0404,4384,2782,5342,0263,0383,4755,1822,3283,4904,1694,6114,2622,1873,5677,0762,6872,2282,000
Buybacks1,1769401,1166745967806727928591,1728557744061,411510502460755722651
Dividends paid405397408400393389399392386377389383378374382378375372383379
Shares outstanding826m815m798m787m779m769m757m744m731m716m704m694m689m673m667m661m655m646m638m631m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 18 February 2022: the filing.