METROPOLITAN LIFE INSURANCE CO

What Do They Do?

Provides insurance, annuities and employee benefits.

How Do They Make Money?

Customers pay fees for prepaid legal plans, administrative-only contracts and recordkeeping services as those services are provided or made available.

revenue

Segment	Share	How money arrives
Prepaid legal plans Recurring	49% FY2022: 50%	Recurring
ASO contracts Recurring	32% FY2022: 27%	Recurring
Recordkeeping and administrative services (1) Recurring	15% FY2022: 20%	Recurring
Other revenue from service contracts from customers	4.0% FY2022: 4.0%

Do Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025

13% of revenue

▲ +69% vs FY2024 ($3.4B, 8%)

Net income, FY2025

4% of revenue

▼ −55% vs FY2024 ($3.5B, 8%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +2%; vs $9.3B in Q2 FY2025
Net income: ▲ +150%; vs $194M in Q2 FY2025

Prepaid legal plans share of revenue from contract with customer, excluding assessed tax vs 47.5% in Q2 FY2025

Flat. Revenue was $43.3B in FY2025, about the same as the $41.2B of FY2021.

Revenue over time

Prepaid legal plans ASO contracts Recordkeeping and administrative services (1) Other revenue from service contracts from customers

$1B$500M$0

FY2021 FY2022 FY2023 FY2024 FY2025

Financial Snapshot

Last updated: 10/27/2026

Size

Revenue
Net Income

Growth FY2025

Revenue Growth
EPS Growth: N/A

Profitability

Gross Margin
Operating Margin
Net Income Margin

Cash flow

Free Cash Flow

Balance sheet Q2 FY2026

Cash
Debt to Equity

Valuation

Market Cap: N/A
P/E

Company Facts

Industry: Life Insurance
Incorporated
Headquarters

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