Metlife (MET) FY2023 results: revenue $66.9 billion, down 2.7% on the year
Metlife Inc. (MET) reported revenue of $66.9 billion for fiscal 2023, the year ended 31 December 2023, down 2.7% on the year before. Net income was $1.6 billion, down 70.1%, and diluted earnings per share $1.81. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.
Revenue
$66.9 billion
-2.7% on the year
FY2016FY2023
Operating margin
8.6%
8.7% a year earlier
FY2016FY2023
Net income
$1.6 billion
-70.1% on the year
FY2016FY2023
Diluted EPS
$1.81
-71.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
13,721
13,044
12,347
+5.2%
Cash from investing
-10,246
-2,620
-11,187
Cash from financing
-2,940
-9,948
-1,126
Depreciation and amortisation
200
210
223
-4.8%
Share-based compensation
171
184
173
-7.1%
Buybacks
3,103
3,326
4,303
-6.7%
Dividends paid
1,566
1,598
1,647
-2.0%
Dividend per share
$2.06
$1.98
$1.90
+4.0%
Diluted shares, weighted
762m
809m
869m
-5.8%
Shares outstanding at period end
731m
779m
826m
-6.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
30,015
29,881
67,482
+0.4%
Non-controlling interest
238
244
267
-2.5%
Short-term borrowings
119
175
341
-32.0%
Debt
15,548
14,647
13,933
+6.2%
Other liabilities
641,664
618,125
677,685
+3.8%
Total liabilities and equity
687,584
663,072
759,708
+3.7%
Goodwill
9,236
9,297
9,535
-0.7%
Intangible assets
794
876
972
-9.4%
Investments
6,045
4,935
7,176
+22.5%
Loans
n/a
83,763
79,226
Trading assets
10,331
9,668
12,142
+6.9%
Cash and equivalents
20,639
20,195
20,047
+2.2%
Other assets
640,539
534,338
630,610
+19.9%
Total assets
687,584
663,072
759,708
+3.7%
10-K for the year ended 31 December 2023, filed 16 February 2024: the filing.