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MANULIFE FINANCIAL - MFCCN 4.65 PERP (MFC-PR-B.CA) Stock Fundamental Analysis

TSX:MFC-PR-B - Toronto Stock Exchange - CA56501R4035 - Currency: CAD

20.2  +0.01 (+0.05%)

Fundamental Rating

5

Taking everything into account, MFC-PR-B scores 5 out of 10 in our fundamental rating. MFC-PR-B was compared to 81 industry peers in the Insurance industry. MFC-PR-B has an average financial health and profitability rating. A decent growth rate in combination with a cheap valuation! Better keep an eye on MFC-PR-B.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year MFC-PR-B was profitable.
MFC-PR-B had a positive operating cash flow in the past year.
Of the past 5 years MFC-PR-B 4 years were profitable.
In the past 5 years MFC-PR-B always reported a positive cash flow from operatings.
MFC-PR-B.CA Yearly Net Income VS EBIT VS OCF VS FCFMFC-PR-B.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B 20B 25B

1.2 Ratios

MFC-PR-B has a Return On Assets of 0.48%. This is comparable to the rest of the industry: MFC-PR-B outperforms 41.98% of its industry peers.
MFC-PR-B has a worse Return On Equity (9.06%) than 85.19% of its industry peers.
MFC-PR-B has a Return On Invested Capital of 0.72%. This is in the better half of the industry: MFC-PR-B outperforms 66.67% of its industry peers.
Industry RankSector Rank
ROA 0.48%
ROE 9.06%
ROIC 0.72%
ROA(3y)0.27%
ROA(5y)0.44%
ROE(3y)5.1%
ROE(5y)7.68%
ROIC(3y)N/A
ROIC(5y)N/A
MFC-PR-B.CA Yearly ROA, ROE, ROICMFC-PR-B.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10

1.3 Margins

MFC-PR-B's Profit Margin of 12.55% is amongst the best of the industry. MFC-PR-B outperforms 91.36% of its industry peers.
In the last couple of years the Profit Margin of MFC-PR-B has grown nicely.
MFC-PR-B has a better Operating Margin (21.86%) than 87.65% of its industry peers.
MFC-PR-B's Operating Margin has improved in the last couple of years.
Industry RankSector Rank
OM 21.86%
PM (TTM) 12.55%
GM N/A
OM growth 3Y12.84%
OM growth 5Y19.32%
PM growth 3Y3.23%
PM growth 5Y14.2%
GM growth 3YN/A
GM growth 5YN/A
MFC-PR-B.CA Yearly Profit, Operating, Gross MarginsMFC-PR-B.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20

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4

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MFC-PR-B is destroying value.
The number of shares outstanding for MFC-PR-B has been reduced compared to 1 year ago.
The number of shares outstanding for MFC-PR-B has been reduced compared to 5 years ago.
Compared to 1 year ago, MFC-PR-B has an improved debt to assets ratio.
MFC-PR-B.CA Yearly Shares OutstandingMFC-PR-B.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B
MFC-PR-B.CA Yearly Total Debt VS Total AssetsMFC-PR-B.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200B 400B 600B 800B

2.2 Solvency

MFC-PR-B has a debt to FCF ratio of 0.50. This is a very positive value and a sign of high solvency as it would only need 0.50 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 0.50, MFC-PR-B belongs to the top of the industry, outperforming 96.30% of the companies in the same industry.
MFC-PR-B has a Debt/Equity ratio of 0.27. This is a healthy value indicating a solid balance between debt and equity.
MFC-PR-B's Debt to Equity ratio of 0.27 is fine compared to the rest of the industry. MFC-PR-B outperforms 76.54% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 0.5
Altman-Z N/A
ROIC/WACC0.09
WACC8.36%
MFC-PR-B.CA Yearly LT Debt VS Equity VS FCFMFC-PR-B.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B 50B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
MFC-PR-B.CA Yearly Current Assets VS Current LiabilitesMFC-PR-B.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

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4

3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 7.89% over the past year.
Measured over the past 5 years, MFC-PR-B shows a small growth in Earnings Per Share. The EPS has been growing by 5.49% on average per year.
Looking at the last year, MFC-PR-B shows a quite strong growth in Revenue. The Revenue has grown by 11.13% in the last year.
Measured over the past years, MFC-PR-B shows a very negative growth in Revenue. The Revenue has been decreasing by -13.62% on average per year.
EPS 1Y (TTM)7.89%
EPS 3Y6.08%
EPS 5Y5.49%
EPS Q2Q%1.58%
Revenue 1Y (TTM)11.13%
Revenue growth 3Y-12.52%
Revenue growth 5Y-13.62%
Sales Q2Q%-11.27%

3.2 Future

Based on estimates for the next years, MFC-PR-B will show a small growth in Earnings Per Share. The EPS will grow by 5.14% on average per year.
MFC-PR-B is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 18.62% yearly.
EPS Next Y7.65%
EPS Next 2Y8.57%
EPS Next 3Y6.76%
EPS Next 5Y5.14%
Revenue Next Year9.3%
Revenue Next 2Y7.46%
Revenue Next 3Y6.55%
Revenue Next 5Y18.62%

3.3 Evolution

The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
MFC-PR-B.CA Yearly Revenue VS EstimatesMFC-PR-B.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 20B 40B 60B 80B
MFC-PR-B.CA Yearly EPS VS EstimatesMFC-PR-B.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1 2 3 4

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7

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 5.19, which indicates a rather cheap valuation of MFC-PR-B.
MFC-PR-B's Price/Earnings is on the same level as the industry average.
MFC-PR-B is valuated cheaply when we compare the Price/Earnings ratio to 25.91, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 4.42, the valuation of MFC-PR-B can be described as very cheap.
MFC-PR-B's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. MFC-PR-B is cheaper than 61.73% of the companies in the same industry.
MFC-PR-B is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.85, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 5.19
Fwd PE 4.42
MFC-PR-B.CA Price Earnings VS Forward Price EarningsMFC-PR-B.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

80.25% of the companies in the same industry are more expensive than MFC-PR-B, based on the Enterprise Value to EBITDA ratio.
65.43% of the companies in the same industry are more expensive than MFC-PR-B, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 1.21
EV/EBITDA 2.59
MFC-PR-B.CA Per share dataMFC-PR-B.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.68
PEG (5Y)0.95
EPS Next 2Y8.57%
EPS Next 3Y6.76%

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6

5. Dividend

5.1 Amount

MFC-PR-B has a Yearly Dividend Yield of 3.95%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 4.38, MFC-PR-B has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.36, MFC-PR-B pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.95%

5.2 History

On average, the dividend of MFC-PR-B grows each year by 20.17%, which is quite nice.
MFC-PR-B has paid a dividend for at least 10 years, which is a reliable track record.
MFC-PR-B has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)20.17%
Div Incr Years0
Div Non Decr Years19
MFC-PR-B.CA Yearly Dividends per shareMFC-PR-B.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

MFC-PR-B pays out 67.87% of its income as dividend. This is not a sustainable payout ratio.
MFC-PR-B's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP67.87%
EPS Next 2Y8.57%
EPS Next 3Y6.76%
MFC-PR-B.CA Yearly Income VS Free CF VS DividendMFC-PR-B.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B 20B 25B
MFC-PR-B.CA Dividend Payout.MFC-PR-B.CA Dividend Payout, showing the Payout Ratio.MFC-PR-B.CA Dividend Payout.PayoutRetained Earnings

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MANULIFE FINANCIAL - MFCCN 4.65 PERP

TSX:MFC-PR-B (5/22/2025, 7:00:00 PM)

20.2

+0.01 (+0.05%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)05-07 2025-05-07/amc
Earnings (Next)08-06 2025-08-06/amc
Inst Owners56.7%
Inst Owner ChangeN/A
Ins Owners0.04%
Ins Owner ChangeN/A
Market Cap34.71B
Analysts76.67
Price Target23.03 (14.01%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.95%
Yearly Dividend1.79
Dividend Growth(5Y)20.17%
DP67.87%
Div Incr Years0
Div Non Decr Years19
Ex-Date05-21 2025-05-21 (0.29063)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.5%
Min EPS beat(2)-4.86%
Max EPS beat(2)7.87%
EPS beat(4)3
Avg EPS beat(4)2.85%
Min EPS beat(4)-4.86%
Max EPS beat(4)7.87%
EPS beat(8)7
Avg EPS beat(8)4.51%
EPS beat(12)9
Avg EPS beat(12)3.36%
EPS beat(16)11
Avg EPS beat(16)2.18%
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-2.47%
PT rev (3m)2.66%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.81%
EPS NY rev (1m)0%
EPS NY rev (3m)0.72%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-4.68%
Revenue NY rev (3m)-0.09%
Valuation
Industry RankSector Rank
PE 5.19
Fwd PE 4.42
P/S 0.93
P/FCF 1.21
P/OCF 1.21
P/B 0.67
P/tB 0.85
EV/EBITDA 2.59
EPS(TTM)3.89
EY19.26%
EPS(NY)4.57
Fwd EY22.64%
FCF(TTM)16.65
FCFY82.41%
OCF(TTM)16.65
OCFY82.41%
SpS21.76
BVpS30.13
TBVpS23.69
PEG (NY)0.68
PEG (5Y)0.95
Profitability
Industry RankSector Rank
ROA 0.48%
ROE 9.06%
ROCE 0.85%
ROIC 0.72%
ROICexc 0.74%
ROICexgc 1.72%
OM 21.86%
PM (TTM) 12.55%
GM N/A
FCFM 76.52%
ROA(3y)0.27%
ROA(5y)0.44%
ROE(3y)5.1%
ROE(5y)7.68%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y-2.15%
ROICexcg growth 5Y-0.07%
ROICexc growth 3Y-3.34%
ROICexc growth 5Y-0.84%
OM growth 3Y12.84%
OM growth 5Y19.32%
PM growth 3Y3.23%
PM growth 5Y14.2%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 0.5
Debt/EBITDA 1.56
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 5.23
Cash Conversion 314.66%
Profit Quality 609.81%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score7
WACC8.36%
ROIC/WACC0.09
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)7.89%
EPS 3Y6.08%
EPS 5Y5.49%
EPS Q2Q%1.58%
EPS Next Y7.65%
EPS Next 2Y8.57%
EPS Next 3Y6.76%
EPS Next 5Y5.14%
Revenue 1Y (TTM)11.13%
Revenue growth 3Y-12.52%
Revenue growth 5Y-13.62%
Sales Q2Q%-11.27%
Revenue Next Year9.3%
Revenue Next 2Y7.46%
Revenue Next 3Y6.55%
Revenue Next 5Y18.62%
EBIT growth 1Y7.6%
EBIT growth 3Y-1.3%
EBIT growth 5Y3.07%
EBIT Next Year-69.45%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y67.64%
FCF growth 3Y4.59%
FCF growth 5Y5.22%
OCF growth 1Y67.64%
OCF growth 3Y4.59%
OCF growth 5Y5.22%