MetLife (MET) Cash Flow: Operating & Free Cash Flow

MetLife Cash Flow Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for MetLife, Inc. (MET) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	3.40	4.43	1.60	5.30	6.88	5.41	5.90	5.12	5.00
Depreciation & Amortization	0.75	0.71	0.72	0.67	0.69	0.00	0.00	0.00	0.00
Change in Working Capital	5.38	1.37	1.45	2.10	3.49	4.72	7.56	5.99	6.05
Change in Accounts Receivable	0.00	0.46	0.00	0.30	0.36	0.00	0.00	0.00	0.00
Change in Other Working Capital	0.35	-3.62	1.72	2.17	-1.17	4.72	7.56	5.99	6.05
Other Operating Activities	7.56	-3.62	9.95	4.97	1.29	1.38	0.46	-1.59	1.68
Net Cash from Operating Activities	17.09	14.60	13.72	13.04	12.35	11.51	13.93	9.53	12.72
Investing Activities
Capital Expenditures	0.00	0.00	-1.17	0.00	4.36	0.00	0.00	0.00	0.00
Acquisitions	-0.74	-1.44	-0.76	-0.71	3.27	-1.68	-1.08	0.00	-1.28
Purchases of Investments	-105.70	-82.14	-89.06	-116.59	-141.30	-93.59	-91.79	-108.16	-115.47
Sales/Maturities of Investments	92.49	69.94	82.51	117.39	131.66	79.06	80.01	110.13	101.52
Other Investing Activities	-1.66	1.07	-3.71	-4.01	-4.82	-2.36	-4.73	-7.61	-1.65
Net Cash from Investing Activities	-15.61	-11.49	-10.25	-2.62	-11.19	-18.57	-17.59	-5.63	-16.88
Financing Activities
Debt Repayment	-2.75	-2.67	-1.96	-0.14	-0.66	0.88	0.41	-1.91	-0.37
Common Stock Issued	0.00	0.00	0.00	0.00	0.00	1.96	0.00	1.27	0.00
Common Stock Repurchased	-2.88	-3.21	-3.10	-3.33	-4.30	-2.15	-2.29	-3.99	-2.93
Dividends Paid	-1.51	-1.73	-1.57	-1.60	-1.65	-1.86	-1.82	-1.82	-1.82
Other Financing Activities	6.32	2.87	1.22	-5.72	6.15	11.90	8.27	3.64	4.21
Net Cash from Financing Activities	0.16	-3.13	-2.94	-9.95	-1.13	10.73	4.57	-2.80	-0.91
Summary
Effect of Forex Changes on Cash	0.32	-0.55	-0.09	-0.40	-0.48	-0.47	-0.13	2.03	5.11
Net Change in Cash	1.96	-0.57	0.44	0.15	0.25	3.20	0.78	3.12	0.05
Cash at Beginning of Period	20.07	20.64	20.20	20.05	19.80	16.60	15.82	12.70	12.65
Cash at End of Period	22.03	20.07	20.64	20.20	20.05	19.80	16.60	15.82	12.70
Free Cash Flow	17.09	14.60	13.72	13.04	12.35	11.51	13.93	9.53	12.72
Supplemental Disclosures
Income Taxes Paid	1.56	1.60	1.83	1.06	1.10	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About MetLife Cash Flow

What is MetLife's free cash flow?

MetLife generated free cash flow of $17.09B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 17.1% from $14.60B a year earlier. Free cash flow equaled 22.2% of revenue.

Does MetLife pay dividends or buy back shares?

Yes. In fiscal 2025 MetLife returned $1.51B in dividends and $2.88B in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition