Discounted Cash Flow

Metlife Inc.

MET · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $63.5b $800.0m $800.0m 1.3% $0.63
2017 $62.3b (-1.8%) $4.0b (401.2%) $12.3b (1435.4%) 6.4% (410.6%) $3.65 (479.4%)
2018 $1.3b (-98.0%) $5.1b (27.8%) $11.7b (-4.4%) 407.9% (6237.7%) $4.95 (35.6%)
2019 $1.3b (2.6%) $5.9b (15.1%) $13.8b (17.4%) 457.6% (12.2%) $6.10 (23.2%)
2020 $1.4b (5.0%) $5.4b (-8.3%) $11.6b (-15.6%) 399.3% (-12.7%) $5.72 (-6.2%)
2021 $2.1b (53.2%) $6.6b (21.2%) $12.6b (8.2%) 316.0% (-20.9%) $7.36 (28.7%)
2022 $2.1b (1.7%) $2.5b (-61.3%) $12.8b (1.7%) 120.3% (-61.9%) $2.93 (-60.2%)
2023 $2.2b (5.6%) $1.6b (-37.8%) $13.7b (7.2%) 70.8% (-41.2%) $1.82 (-37.9%)
2024 $2.2b (0.7%) $4.4b (180.5%) $14.6b (6.1%) 197.1% (178.5%) $5.98 (228.6%)
2025 $2.4b (8.5%) $3.4b (-23.7%) $16.9b (15.8%) 138.7% (-29.6%) $4.74 (-20.7%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model