Manulife Financial Corporation

Manulife Financial Corporation

63.30
CAD
+1.01
(+1.62%)
4.19EPS
15.03P/E
95.18BMarket Cap
Nov 04Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
9.5
28.62
16.76
26.2
28.64
18.83
39.75
39.73
30.81
12.65
-3.84
-4.1
31.13
34.2
Basic EPS, GAAP
1.62
1.83
1.08
1.45
0.97
2.28
2.6
2.66
3.32
-1.24
2.81
2.99
3.21
3.81
Free Cash Flow per Basic Share
5.17
5.83
5.3
8.62
8.99
9.69
10.49
10.33
11.92
8.71
11.14
14.89
18.85
18.42
Dividend per Share
0.41
0.49
0.73
0.81
0.9
0.9
0.71
1.21
1.29
1.46
1.62
1.78
1.94
2.03
Book Value per Share
14.05
16.51
19.6
19.49
19
21.43
23.13
24.6
20.11
21.52
22.5
25.96
26.41
28.04
Tangible Book Value per Share
11.18
13.58
14.84
14.37
14.04
16.31
18.01
19.48
15.01
15.88
16.79
19.57
19.06
20.4
Basic Weighted Avg Shares
1,840
1,854
1,958
1,973
1,978
1,979
1,958
1,941
1,942
1,910
1,834
1,779
1,703
1,681
Sales/Revenue/Turnover
17,485
53,069
32,815
51,691
56,650
37,264
77,822
77,121
59,841
24,159
-7,037
-7,288
53,014
57,481
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
426
462
580
693
560
747
626
656
529
-1,474
-1,417
-1,507
-1,829
-2,080
Net Income, GAAP
3,118
3,522
2,221
2,990
2,068
4,673
5,269
5,326
6,657
-2,100
5,463
5,631
5,782
6,725
Effective Tax Rate (%)
15.51
15.74
12.53
5.89
9.56
11.45
11.54
17.65
14.93
- -
13.1
17.09
14.58
15.58
Profit Margin (%)
17.83
6.64
6.77
5.78
3.65
12.54
6.77
6.91
11.12
-8.69
-77.63
-77.26
10.91
11.7
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
8,816
8,967
9,548
12,876
13,171
13,501
11,663
13,993
11,862
11,741
12,144
14,161
12,934
13,744
Total Equity
29,033
33,926
41,938
42,823
42,163
47,151
50,106
53,006
46,892
48,226
48,727
52,960
52,488
54,927
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
11.04
10.91
6.6
7.09
5.23
9.64
10.13
9.39
11.55
- -
10.93
10.54
10.14
11.54
Return on Common Equity (%)
12.36
11.97
6.06
7.41
5.01
11.28
11.68
11.11
14.84
-5.96
12.78
12.44
12.25
14.26

Capital Structure

CAD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,741
377
383
LT Borrowings
12,934
13,070
13,744
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
6,660
6,660
6,660
Shares Outstanding
1,677
1,672
1,662
Market Capitalization
84,076
79,035
95,177

Working Capital

CAD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
26,703
24,988
27,540
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
1,741
377
383
Deferred Revenue
- -
- -
- -

Growth Rates

CAD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.46%
0.03%
-0.89%
Free Cash Flow
14.21%
12.21%
21.18%
Net Income, GAAP
-31.74%
-92.19%
2.68%
Sales/Revenue/Turnover
-89.42%
-207%
-827.41%
Total Cash Common Dividend
10.8%
6.61%
4.78%

Quarterly Revenue

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
35,177
18,478
14,572
4,218
-7,288
2025
9,044
41,125
17,309
8,604
53,014
2026
11,861
19,707
- -
- -
- -

Quarterly Earnings Per Share

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.48
0.55
1.06
0.91
2.99
2025
0.29
1.04
1.02
0.87
3.21
2026
0.68
1.25
- -
- -
- -

Quarterly Dividends Per Share

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.43
0.46
0.43
0.46
1.78
2025
0.47
0.5
0.47
0.5
1.94
2026
0.51
0.55
- -
- -
- -

Company Description

CEO
Philip Witherington
Full Time Employees
37,000
Sector
Finance
Industry
Life/Health insurance
Address
200 Bloor Street East Toronto ON Canada M4W 1E5
IPO Date
Sep 27, 1999
Business
Manulife Financial Corporation is a leading Canadian multinational financial services provider offering life insurance, health insurance, annuities, pension products, wealth management solutions, mutual funds, segregated funds, exchange-traded funds, retirement plans, financial advice, and asset management services to individuals, groups, businesses, and institutions. The company operates primarily as Manulife in Canada, Asia, and Europe, and as John Hancock in the United States; it also provides reinsurance services in the property retrocession market and banking services through Manulife Bank of Canada. Founded in 1887 and headquartered in Toronto, Ontario, Manulife conducts business across North America, Asia, and select international markets, serving over 36 million customers with approximately 37,000 employees and 109,000 agents as of late 2024. Manulife's core offerings span individual and group life and health protection products; wealth and asset management including global investment strategies, retirement services, and institutional asset management; and specialized solutions such as private credit through its Global Wealth and Asset Management segment, which exceeds US$900 billion in assets. In Asia, the company maintains a strong presence in 10 markets with over 125 years of history, while in the U.S., John Hancock delivers annuities, defined contribution plans, and financial protection. The company targets retail investors, corporate clients, and institutional investors, with recent emphasis on digital customer-centric innovations and sustainable investment options like timberland and agriculture through Manulife Investment Management. In 2025, Manulife completed the acquisition of a 75% stake in Comvest Credit Partners for US$937.5 million, creating an US$18.4 billion private credit platform by combining its US$3.7 billion Senior Credit team with Comvest's origination capabilities, a move immediately accretive to core earnings per share, return on equity, and EBITDA margins. This strategic transaction enhances Manulife's private markets platform and supports growth in Global Wealth and Asset Management. Additionally, the company priced a U.S. public offering of senior notes in December 2025 and reported strong Q2 and Q3 results, including an 8% rise in core earnings and 32% growth in new business value on a constant exchange rate basis, alongside a new growth strategy targeting India, the U.S., and Canada.

Company News

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  • Bank of America Corp DE Makes New $145.18 Million Investment in Manulife Financial Corp $MFC

  • Manulife appoints Sarah Chapman as Global Chief Marketing & Customer Experience Officer, joining Executive Leadership Team

  • Manulife Financial Corporation (MFC:CA) Presents at Scotiabank's 27th Annual Financials Summit Transcript

  • Allianz Asset Management GmbH Has $14.44 Million Position in Manulife Financial Corp $MFC

  • 20,193 Shares in Manulife Financial Corp $MFC Acquired by Hsbc Holdings PLC

  • Manulife Financial Corporation Prices U.S. Public Offering of Subordinated Notes

  • Manulife President and Chief Executive Officer Phil Witherington to participate in fireside chat at the Scotiabank Financials Summit

  • Archer Investment Corp Invests $770,000 in Manulife Financial Corp $MFC

  • Manulife Vs. Sun Life: Good Businesses, But More Expensive (Rating Downgrade)

  • Bank of New York Mellon Corp Acquires 110,063 Shares of Manulife Financial Corp $MFC

  • 12,501 Shares in Manulife Financial Corp $MFC Acquired by Allworth Financial LP

  • Callan Family Office LLC Makes New Investment in Manulife Financial Corp $MFC

  • 25,609 Shares in Manulife Financial Corp $MFC Acquired by Empowered Funds LLC

  • Dividend Champion, Contender, And Challenger Highlights: Week August 16

  • Manulife Financial Q2 Earnings Call Highlights