| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 81 | 18.6x | 17.8x | Top tier | |
Growth | 36 | 8.7% | 7.1% | Bottom tier | |
Quality | 73 | — | — | Top tier | |
Safety | 8 | — | — | Bottom tier | |
Capital Return | 51 | 2.36% | 2.12% | Around median | |
Momentum | 94 | 23.0% | 2.9% | Top tier | |
Sentiment | 84 | 12 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
MetLife, Inc. operates across insurance, employee benefits, retirement solutions, and asset management through a model that its New Frontier strategy describes as two integrated earnings engines. The capital-light engine includes Group Benefits, Latin America, EMEA, and asset management, generating fees, underwriting income, and cash flows, while the capital-intensive engine relies on retirement solutions and spread-based businesses. Assets originated by the retirement businesses support the MetLife Investment Management platform, which had approximately $748 billion in assets under management as of June 30, 2026.
In Q2 fiscal 2026, EDGAR data showed revenue of $19.2 billion, net income of $736 million, and earnings per share of $1.09. According to management's presentation, adjusted earnings were approximately $1.6 billion, or $2.43 per share, up 15% and 20% year over year, respectively, while adjusted premiums, fees, and other revenues, excluding pension risk transfers, grew 5%. Adjusted return on equity was 17%, at the upper end of the annual target range of 15% to 17%, and the direct expense ratio was 12.1%.
The earnings mix was broad-based in Q2 fiscal 2026: Group Benefits generated adjusted earnings of $503 million, up 25%; Asia approximately $420 million, up 21%; Retirement and Income Solutions approximately $377 million, up 2%; Latin America $268 million, up 15%; EMEA approximately $108 million, up 8%; and MetLife Investment Management approximately $57 million, up 6%. By contrast, Corporate & Other reported an adjusted loss of $160 million, compared with a loss of $142 million a year earlier, illustrating that growth across the operating segments was offset by pressure from corporate items, investment losses, and mark-to-market adjustments.
The analyst consensus is Buy, with an average price target of $101, within a wide range of $90 to $111. The average is slightly above the 52-week range high of $100.93, while the highest target exceeds that high by approximately $10; the dispersion in targets reflects differing assessments of the sustainability of underwriting improvement and international market growth versus investment income volatility and the potential normalization of mortality margins.
Figures in the text are as of 2026-08-27; the live price is shown at the top of the page.
Adjusted earnings were approximately $1.6 billion, or $2.43 per share, up 15% and 20% year over year, respectively. Results benefited from improved underwriting margins, volume growth, and higher investment margins, despite a lower contribution from certain variable investments. Group Benefits was the largest growth driver, with adjusted earnings of $503 million, up 25%.
Asia generated adjusted earnings of $420 million in Q2 fiscal 2026, up 21% on a reported basis and 25% on a constant-currency basis. Regional sales increased 17% on a constant-currency basis, including nearly 90% growth in accident and health sales in Japan following the launch of a new medical product. In Latin America, the company posted record quarterly earnings of $268 million, with sales growth of 9% on a constant-currency basis, led by Brazil, Mexico, and Chile.
The segment's adjusted earnings totaled $503 million, up 25%, while the group life mortality ratio declined to 79% versus a target range of 83% to 88%. However, management attributed approximately 2 points of the improvement to prior-period development and lower claim severity and said it does not expect these factors to recur in the second half of fiscal 2026. It added that any normalization of margins would be gradual because the life insurance policy renewal cycle extends from 3 to 5 years.
Automated analysis for informational purposes only — not investment advice.
MetLife Investment Management had approximately $748 billion in assets under management as of June 30, 2026, following a quarterly increase of $12 billion. The increase included $7 billion in institutional client assets, while other revenues rose 34%. However, management expects adjusted earnings of $240 million to $280 million for fiscal 2026 and indicated that the result would likely be near the low end of the range.
Pre-tax variable investment income totaled $231 million in Q2 fiscal 2026, affected by a return of 0.8% on private equity and 1.1% on real estate and other funds. The total investment margin in RIS declined to 97 basis points, below the guidance range of 100 to 120 basis points, despite the core margin excluding variable investment income reaching 100 basis points. The direct expense ratio also increased to 12.1% from 11.7%, including an impact of approximately 50 basis points from PineBridge Investments.
The company returned approximately $1.1 billion to shareholders in Q2 fiscal 2026, including nearly $700 million in share repurchases. From the beginning of fiscal 2026 through July 2026, total dividends and repurchases exceeded $2.4 billion, including approximately $225 million of additional repurchases in July. On August 5, 2026, the board announced a new $3 billion share repurchase authorization, while cash and liquid assets at the holding companies totaled $3.4 billion as of June 30, 2026.
