The Dividend Winners and Losers From 5% Treasury Yields
When the 30-year Treasury topped 5%, two dividend stocks moved in completely opposite directions on the same day, and the reason has nothing to do with their yields.

MetLife, Inc.는 보험, 연금, 직원 복리후생, 자산 관리 등 광범위한 서비스를 제공하는 선도적인 글로벌 금융 서비스 기업으로 운영되고 있습니다. 이 회사는 미국, ...
$2.29 주당
예상 EPS $10.02 · 매출 $79.95B · 12 명의 애널리스트
예상 EPS $2.86 · 매출 $21.04B · 3 명의 애널리스트
예상 EPS $2.91 · 매출 $21.77B · 6 명의 애널리스트
$2.29 주당
EPS $1.03 · 매출 $17.18B
| 지표 | 최신 | 전년 대비YoY는 Year-over-Year(전년 대비)를 의미합니다. 최근 연도 값을 이전 연도 값과 비교하여 장기 추세의 강도를 보여줍니다. | 전분기 대비QoQ는 Quarter-over-Quarter(전분기 대비)를 의미합니다. 최근 분기를 직전 분기와 비교하여 단기 모멘텀 변화를 보여줍니다. |
|---|---|---|---|
| 매출고객에게 물건을 판매하여 청구서가 지급되기 전까지 들어온 총 금액입니다. 고객의 모든 카드 결제의 총합이라고 보시면 됩니다. (YoY는 올해를 작년 성과와 비교하며, QoQ는 최근 3개월을 이전 3개월과 비교합니다). | $77.1B | +10.2% | -1.0% |
| 순이익절대적인 최종 이익입니다. 회사가 모든 공급업체, 직원, 은행, 세무 당국에 비용을 지불하고 남은 실제 금액입니다. | $3.4B | -23.7% | -37.9% |
| 매출총이익률기본적인 마진입니다. 100달러짜리 운동화를 판매한다면, 이 비율은 원료와 끈 비용을 지불한 직후의 이익이 가격의 얼마인지를 나타내며, 매장 임대료나 TV 광고 같은 비용은 제외됩니다. | +36.4% | +33.8% | -60.4% |
| 영업이익률본업의 효율성 점수입니다. 고객이 지불하는 1달러 중에서 제품을 만들고 모든 일상적인 회사 운영비(급여, 마케팅, 임대료 등)를 지불한 후 회사가 보유하는 금액을 나타냅니다. | +6.0% | -24.8% | -30.7% |
| 순이익률최종 이익 비율입니다. 모든 비용, 세금, 이자를 차감한 후, 매출 1달러 중 회사가 실제로 보유하는 정확한 액수입니다. | +4.4% | -30.7% | -37.2% |
| 잉여현금흐름기업 현금흐름의 핵심입니다. 일상적인 운영비를 지불하고 생존에 필요한 큰 설비(공장, 서버 등)에 투자한 후 남은 사용 가능한 실제 현금입니다. 배당금이나 자사주 매각에 사용될 수 있는 '자유' 현금입니다. | $18.1B | +19.8% | -17.1% |
| FCF 마진궁극의 현금 전환율입니다. 일반 매출을 즉시 사용 가능한 현금으로 얼마나 잘 전환하는지를 나타냅니다. 비율이 높을수록 현금 창출 능력이 우수합니다. | +23.5% | +8.7% | -16.2% |
| 부채/자본재무 리스크 지표입니다. 차입금으로 구축된 자산과 주주의 자기자본 비율을 비교합니다. 높으면 레버리지가 크고 위험이 큽니다. | 71.1% | +4.2% | 0.0% |
| 유동비율12개월 생존 점검입니다. 현재 보유한 현금과 즉시 현금화 가능한 자산으로 1년 내 갚아야 할 즉시 청구서를 갚을 수 있는지를 비교합니다. 1 이상이면 당장 지급에 충분합니다. | 0.65x | +17.3% | +432.9% |
| 총자산회사의 절대적인 규모입니다. 계산대의 현금, 창고의 재고, 소프트웨어 특허, 공장 등 회사가 보유한 모든 가치 있는 자산을 합친 것입니다. | $745.2B | +10.0% | +0.7% |
| 지표 | 연간 (실적 vs 추정치) | 연간 서프라이즈 | 분기 (실적 vs 추정치) | 분기 서프라이즈 |
|---|---|---|---|---|
| EPS 서프라이즈 | 4.80 vs 8.69 | -44.7% | 1.08 vs 2.86 | -62.2% |
| 매출 서프라이즈 | $77.1B vs $83.1B | -7.2% | $18.9B vs $21.0B | -10.3% |
| 날짜 | 임원 | 직책 | 증권 | 구분 | 주식 수 | 가격 |
|---|---|---|---|---|---|---|
| Aug 31, 2026 | PAPPAS BILL | officer: EVP, Global Tech. & Ops. | Common Stock | D | 4,030 | $95.17 |
| Aug 31, 2026 | McCallion John D. | officer: EVP & Chief Financial Officer | Common Stock | D | 6,057 | $95.17 |
| Aug 31, 2026 | DEBEL MARLENE | officer: EVP & Chief Risk Officer | Common Stock | D | 4,030 | $95.17 |
| Aug 31, 2026 | TADROS RAMY | officer: President, U.S. Business | Common Stock | D | 4,366 | $95.17 |
| Jun 16, 2026 | Mumenthaler Christian Stephane | director | Common Stock | A | 587 | $87.40 |
Operator: Ladies and gentlemen, thank you for standing by. Welcome to the MetLife Second Quarter 2026 Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. Before we get started, I refer you to the cautionary note about forward-looking statements in yesterday's earnings release and to risk factors discussed in MetLife's SEC filings. With that, I will now turn the call over to John Hall, Treasurer and Head of Investor Relations. John Hall: Thank you, operator, and good morning, everyone. We appreciate you joining MetLife's Second Quarter 2026 Call. Before we begin, I direct your attention to the information on non-GAAP measures on the Investor Relations section of metlife.com in our earnings release, in our quarterly financial supplement and in our earnings call and investor presentations, which you should review. On the call today are Michel Khalaf, President and Chief Executive Officer; and John McCallion, Chief Financial Officer and Head of MetLife Investment Management. Also available to participate in the discussion are other members of senior management. This morning, John McCallion will speak to the earnings call presentation we released last night. The deck is available on our website. An appendix to the deck features disclosures, GAAP reconciliations and other information, which you should also review. After prepared remarks, we will have a Q&A session, which will end promptly at the top of the hour. As a reminder, please limit yourself to 1 question and 1 follow-up. Now to Michel. Michel Khalaf: Thank you, John, and good morning, everyone. This was an outstanding quarter and another clear demonstration of how our New Frontier strategy is working as intended and how repeatable our model is built on a powerful recurring revenue base and the flexibility to invest where we see the most compelling global risk-adjusted opportunities. At the heart of our New Frontier strategy are 2 complementary earnings engines that contribute roughly equally One is capital light, where businesses like Group Benefits, Latin America, EMEA and Asset Management generate attractive fee and underwriting income with strong cash generation. The other is capital driven, where our retirement and spread-based businesses leverage our origination, investment and risk management capabilities to put our balance sheet to work at attractive risk-adjusted returns. Importantly, the 2 engines reinforce one another. Our capital-driven businesses originate assets that are managed by MetLife Investment Management, supporting the growth of our asset management platform and expanding our capital-light earnings over time. Together, they create a company that's more balanced, more resilient and better positioned to perform through different market environments. And that's exactly what we saw this quarter. Adjusted earnings increased in every business segment compared with a year ago. Underwriting performance was strong. Volume growth was …
| 이름 | 직함 | 보수 | 성별 | 출생 연도 | 상태 |
|---|---|---|---|---|---|
Michel Abbas Khalaf | Chief Executive Officer, President & Director | USD 6,471,486 | Male | 1964 | Active |
John Dennis McCallion | Executive Vice President, Chief Financial Officer & Head of Investment Management | USD 3,826,739 | Male | 1974 | Active |
Bill Pappas | Executive Vice President and Head of Global Technology & Operations | USD 3,186,300 | Male | 1970 | Active |
Ramy Tadros | Regional President of U.S. Business & Head of MetLife Holdings | USD 3,162,900 | Male | 1976 | Active |
Marlene Beverly Debel | Executive Vice President, Chief Risk Officer & Head of Insurance Investments | USD 2,980,894 | Female | 1967 | Active |
Randy Stram | Senior Vice President of Group Benefits | — | Male | — | Active |
William D. Moore | President of MetLife Auto & Home and Senior Vice President of Eastern Zone - Individual Business | — | Male | — | Active |
Monica Curtis | Executive Vice President, Chief Legal Officer & Head of Government Relations | — | Female | 1983 | Active |
Adrienne O'Neill | Executive Vice President & Chief Accounting Officer | — | Female | — | Active |
John Arthur Hall | Senior VP, Head of Investor Relations & Executive VP and Treasurer | — | Male | — | Active |
Shurawl Sibblies | Executive Vice President & Chief Human Resources Officer | — | Female | 1972 | Active |
Michael Roberts | Executive Vice President & Chief Marketing Officer | — | Male | — | Active |
Jane Slusark | Chief Communications Officer | — | Female | — | Active |
When the 30-year Treasury topped 5%, two dividend stocks moved in completely opposite directions on the same day, and the reason has nothing to do with their yields.

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