Metlife debt and dilution56

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$14,704M

Cash & equivalents

USD millions

$19,301M

Net debt

USD millions

$-4,597M

Debt / equity

0.53×

Debt / assets

1.94%

Net debt / EBITDA

× · TTM

—

Not applicable to banks and insurers: these ratios use an industrial-company capital model.

Debt / FCF

× · TTM

—

The reported inputs required for this metric are unavailable in the extracted statements for this period.

Interest coverage

× · TTM

—

Not applicable to banks and insurers: these ratios use an industrial-company capital model.

Current ratio

—

The reported inputs required for this metric are unavailable in the extracted statements for this period.

Diluted shares

Million shares

646.9M shares

Basic shares

Million shares

642.6M shares

Share count growth

-4.2%

Share repurchases

USD millions

$722M

Quarterly data

Metlife capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2026 Q2	Jun 30, 2026	14,704	19,301	-4,597	0.53×	1.94%	—	—	—	—	646.9	642.6	-4.2%	722
FY 2026 Q1	Mar 31, 2026	14,849	22,687	-7,838	0.54×	2%	—	—	—	—	655.7	652	-4.44%	755
FY 2025 Q4	Dec 31, 2025	14,822	22,032	-7,210	0.52×	1.99%	—	—	—	—	662.32	658.22	-5.02%	460
FY 2025 Q3	Sep 30, 2025	15,678	20,233	-4,555	0.54×	2.18%	—	—	—	—	669.1	664.7	-4.95%	502
FY 2025 Q2	Jun 30, 2025	15,753	22,178	-6,425	0.56×	2.24%	—	—	—	—	675	670.8	-5.59%	510
FY 2025 Q1	Mar 31, 2025	15,076	21,326	-6,250	0.54×	2.19%	—	—	—	—	687	682.3	-5.66%	1,411
FY 2024 Q4	Dec 31, 2024	15,551	20,068	-4,517	0.56×	2.3%	—	—	—	—	698	693	-6.19%	406
FY 2024 Q3	Sep 30, 2024	15,682	21,765	-6,083	0.5×	2.22%	—	—	—	—	703.7	699.3	-6.93%	774
FY 2024 Q2	Jun 30, 2024	15,199	20,786	-5,587	0.55×	2.25%	—	—	—	—	714.7	710.5	-7.23%	855
FY 2024 Q1	Mar 31, 2024	16,099	19,840	-3,741	0.56×	2.38%	—	—	—	—	728.4	723.2	-6.73%	1,172
FY 2023 Q4	Dec 31, 2023	15,667	20,639	-4,972	0.52×	2.28%	—	—	—	—	743.31	738.71	-5.77%	859
FY 2023 Q3	Sep 30, 2023	15,636	14,912	724	0.6×	2.4%	—	—	—	—	755.5	751.4	-5.58%	792
FY 2023 Q2	Jun 30, 2023	14,739	15,417	-678	0.48×	2.18%	—	—	—	—	769.6	765.9	-5.41%	672
FY 2023 Q1	Mar 31, 2023	14,790	18,456	-3,666	0.46×	2.19%	—	—	—	—	781.2	775.4	-5.88%	780
FY 2022 Q4	Dec 31, 2022	14,822	20,195	-5,373	0.54×	2.22%	—	—	—	—	790.21	783.91	-6.43%	596
FY 2022 Q3	Sep 30, 2022	14,703	22,200	-7,497	0.58×	2.26%	—	—	—	—	800.7	795.8	-6.91%	674
FY 2022 Q2	Jun 30, 2022	13,873	20,548	-6,675	0.37×	2.09%	—	—	—	—	814.5	809.7	-7.28%	1,116
FY 2022 Q1	Mar 31, 2022	14,171	23,488	-9,317	0.26×	1.96%	—	—	—	—	830.5	823.8	-6.96%	940
FY 2021 Q4	Dec 31, 2021	14,274	20,047	-5,773	0.21×	1.88%	—	—	—	—	845.36	837.77	-6.89%	1,176
FY 2021 Q3	Sep 30, 2021	14,356	18,956	-4,600	0.21×	1.88%	—	—	—	—	861.2	854.9	-5.92%	1,015
FY 2021 Q2	Jun 30, 2021	14,911	25,037	-10,126	0.21×	1.93%	—	—	—	—	879.7	873.3	-3.91%	1,113
FY 2021 Q1	Mar 31, 2021	14,811	19,635	-4,824	0.22×	1.92%	—	—	—	—	892.1	885.4	-3.14%	999
FY 2020 Q4	Dec 31, 2020	14,991	19,795	-4,804	0.2×	1.89%	—	—	—	—	906.05	899.76	-2.05%	571
FY 2020 Q3	Sep 30, 2020	14,890	24,405	-9,515	0.2×	1.91%	—	—	—	—	913.7	908.7	-2.25%	80
FY 2020 Q2	Jun 30, 2020	14,816	24,289	-9,473	0.2×	1.93%	—	—	—	—	913.1	908.8	-3.95%	0
FY 2020 Q1	Mar 31, 2020	14,808	24,094	-9,286	0.21×	2.01%	—	—	—	—	920	914.1	-4.43%	500
FY 2019 Q4	Dec 31, 2019	13,696	16,598	-2,902	0.21×	1.85%	—	—	—	—	925.41	918.61	-6.27%	250
FY 2019 Q3	Sep 30, 2019	13,585	19,452	-5,867	0.2×	1.83%	—	—	—	—	936.4	929.6	-6.36%	785
FY 2019 Q2	Jun 30, 2019	13,504	18,435	-4,931	0.21×	1.84%	—	—	—	—	952.9	946.2	-6.83%	750
FY 2019 Q1	Mar 31, 2019	13,139	14,506	-1,367	0.22×	1.84%	—	—	—	—	963.3	956.5	-7.66%	500
FY 2018 Q4	Dec 31, 2018	13,092	15,821	-2,729	0.25×	1.9%	—	—	—	—	987.49	980.08	-6.88%	1,200
FY 2018 Q3	Sep 30, 2018	13,698	12,490	1,208	0.26×	1.96%	—	—	—	—	1,000.7	992.7	-6.55%	636
FY 2018 Q2	Jun 30, 2018	15,015	16,312	-1,297	0.28×	2.13%	—	—	—	—	1,023.8	1,015.6	-15.72%	1,115
FY 2018 Q1	Mar 31, 2018	16,233	13,927	2,306	0.29×	2.28%	—	—	—	—	1,044.4	1,035.9	-15.33%	1,041
FY 2017 Q4	Dec 31, 2017	16,157	12,701	3,456	0.27×	2.24%	—	—	—	—	1,062.18	1,052.49	-14.75%	622
FY 2017 Q3	Sep 30, 2017	16,902	13,023	3,879	0.3×	2.35%	—	—	—	—	1,071.5	1,062.3	-13.97%	495
FY 2017 Q2	Jun 30, 2017	19,743	17,319	2,424	0.28×	2.13%	—	—	—	—	1,214.12	1,205.03	-2.39%	952
FY 2017 Q1	Mar 31, 2017	16,771	17,411	-640	0.25×	1.83%	—	—	—	—	1,232.74	1,223.43	-0.95%	858
FY 2016 Q4	Dec 31, 2016	16,709	17,877	-1,168	0.25×	1.86%	—	—	—	—	1,242.06	1,234.57	-0.94%	302
FY 2016 Q3	Sep 30, 2016	16,754	15,883	871	0.21×	1.76%	—	—	—	—	1,244.58	1,234.77	-1.64%	0
FY 2016 Q2	Jun 30, 2016	16,689	17,067	-378	0.21×	1.77%	—	—	—	—	1,244.44	1,234.57	-1.56%	0
FY 2016 Q1	Mar 31, 2016	18,015	13,290	4,725	0.24×	1.96%	—	—	—	—	1,243.87	1,235.14	-2.21%	70
FY 2015 Q4	Dec 31, 2015	18,063	12,752	5,311	0.26×	2.06%	—	—	—	—	1,258.13	1,246.3	-2.2%	823
FY 2015 Q3	Sep 30, 2015	16,855	10,216	6,639	0.24×	1.91%	—	—	—	—	1,267.79	1,255.36	-0.56%	107
FY 2015 Q2	Jun 30, 2015	16,870	8,074	8,796	0.24×	1.88%	—	—	—	—	1,266.06	1,254.18	-0.9%	14
FY 2015 Q1	Mar 31, 2015	17,814	8,127	9,687	0.24×	1.94%	—	—	—	—	1,274.32	1,263.04	-0.11%	986
FY 2014 Q4	Dec 31, 2014	16,235	10,808	5,427	0.22×	1.8%	—	—	—	—	1,287.22	1,274.33	1.08%	557
FY 2014 Q3	Sep 30, 2014	16,489	8,783	7,706	0.23×	1.81%	—	—	—	—	1,280.25	1,262.44	1.83%	439
FY 2014 Q2	Jun 30, 2014	16,883	7,393	9,490	0.24×	1.85%	—	—	—	—	1,281.62	1,265.6	2.74%	4
FY 2014 Q1	Mar 31, 2014	—	8,573	—	—	—	—	—	—	—	1,279.6	1,264.41	2.73%	0
FY 2013 Q4	Dec 31, 2013	17,373	7,585	9,788	0.28×	1.96%	—	—	—	—	1,276.76	1,260.71	3%	0
FY 2013 Q3	Sep 30, 2013	—	11,376	—	—	—	—	—	—	—	1,253.61	1,239.69	3.74%	0
FY 2013 Q2	Jun 30, 2013	—	9,184	—	—	—	—	—	—	—	1,241.7	1,231.83	3.12%	—
FY 2013 Q1	Mar 31, 2013	—	9,983	—	—	—	—	—	—	—	1,238.56	1,230.75	3.07%	—
FY 2012 Q4	Dec 31, 2012	16,635	15,738	897	0.26×	1.99%	—	—	—	—	1,231.22	1,223.99	2.86%	—
FY 2012 Q3	Sep 30, 2012	—	16,950	—	—	—	—	—	—	—	1,194.98	1,194.98	0.46%	—
FY 2012 Q2	Jun 30, 2012	18,980	16,035	2,945	0.3×	2.3%	—	—	—	—	1,200.52	1,194.58	0.47%	—
FY 2012 Q1	Mar 31, 2012	23,490	18,667	4,823	0.4×	2.87%	—	—	—	—	1,194.09	1,194.09	0.54%	—
FY 2011 Q4	Dec 31, 2011	21,310	10,461	10,849	0.35×	2.66%	—	—	—	—	1,196.5	1,189.94	5.29%	—
FY 2011 Q3	Sep 30, 2011	25,204	10,001	15,203	0.41×	3.21%	—	—	—	—	1,196.28	1,189.54	21.06%	—
FY 2011 Q2	Jun 30, 2011	28,371	9,628	18,743	0.53×	3.68%	—	—	—	—	1,201.63	1,189.04	28.78%	—
FY 2011 Q1	Mar 31, 2011	28,176	10,692	17,484	0.56×	3.75%	—	—	—	—	1,200.01	1,187.66	28.67%	—
FY 2010 Q4	Dec 31, 2010	21,072	13,046	8,026	0.43×	2.88%	—	—	—	—	1,138.74	1,130.13	22.55%	—
FY 2010 Q3	Sep 30, 2010	26,569	14,557	12,012	0.57×	4.3%	—	—	—	—	990.84	982.63	6.57%	—
FY 2010 Q2	Jun 30, 2010	21,526	10,702	10,824	0.54×	3.75%	—	—	—	—	931.79	923.3	0.16%	—
FY 2010 Q1	Mar 31, 2010	20,495	9,202	11,293	0.57×	3.62%	—	—	—	—	929.71	923.02	—	—
FY 2009 Q4	Dec 31, 2009	14,132	10,112	4,020	0.42×	2.62%	—	—	—	—	922.18	922.18	—	0
FY 2009 Q3	Sep 30, 2009	15,333	15,562	-229	0.44×	2.86%	—	—	—	—	922.02	922.02	—	0
FY 2009 Q2	Jun 30, 2009	17,697	13,213	4,484	0.64×	3.47%	—	—	—	—	921.83	921.83	—	—

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · MET, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.