MANULIFE FINANCIAL CORP (MFC.CA) Fundamental Analysis & Valuation

TSX:MFC • CA56501R1064

Current stock price

48.57 CAD
+0.25 (+0.52%)
Last:

This MFC.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

5

1. MFC.CA Profitability Analysis

1.1 Basic Checks

  • MFC had positive earnings in the past year.
  • In the past year MFC had a positive cash flow from operations.
  • Of the past 5 years MFC 4 years were profitable.
  • Each year in the past 5 years MFC had a positive operating cash flow.
MFC.CA Yearly Net Income VS EBIT VS OCF VS FCFMFC.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B 20B 30B

1.2 Ratios

  • The Return On Assets of MFC (0.51%) is comparable to the rest of the industry.
  • The Return On Equity of MFC (10.30%) is worse than 79.75% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 0.73%, MFC is in line with its industry, outperforming 58.23% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for MFC is below the industry average of 3.22%.
Industry RankSector Rank
ROA 0.51%
ROE 10.3%
ROIC 0.73%
ROA(3y)0.53%
ROA(5y)0.41%
ROE(3y)10.1%
ROE(5y)7.53%
ROIC(3y)0.76%
ROIC(5y)N/A
MFC.CA Yearly ROA, ROE, ROICMFC.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 10

1.3 Margins

  • Looking at the Profit Margin, with a value of 13.57%, MFC belongs to the top of the industry, outperforming 81.01% of the companies in the same industry.
  • MFC's Profit Margin has improved in the last couple of years.
  • MFC has a Operating Margin of 22.28%. This is in the better half of the industry: MFC outperforms 78.48% of its industry peers.
  • MFC's Operating Margin has improved in the last couple of years.
Industry RankSector Rank
OM 22.28%
PM (TTM) 13.57%
GM N/A
OM growth 3YN/A
OM growth 5Y20.81%
PM growth 3YN/A
PM growth 5Y11.35%
GM growth 3YN/A
GM growth 5YN/A
MFC.CA Yearly Profit, Operating, Gross MarginsMFC.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. MFC.CA Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MFC is destroying value.
  • MFC has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for MFC has been reduced compared to 5 years ago.
  • The debt/assets ratio for MFC has been reduced compared to a year ago.
MFC.CA Yearly Shares OutstandingMFC.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B
MFC.CA Yearly Total Debt VS Total AssetsMFC.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200B 400B 600B 800B 1T

2.2 Solvency

  • MFC has a debt to FCF ratio of 0.46. This is a very positive value and a sign of high solvency as it would only need 0.46 years to pay back of all of its debts.
  • The Debt to FCF ratio of MFC (0.46) is better than 82.28% of its industry peers.
  • MFC has a Debt/Equity ratio of 0.29. This is a healthy value indicating a solid balance between debt and equity.
  • MFC has a Debt to Equity ratio (0.29) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF 0.46
Altman-Z N/A
ROIC/WACC0.09
WACC8.07%
MFC.CA Yearly LT Debt VS Equity VS FCFMFC.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B 50B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
MFC.CA Yearly Current Assets VS Current LiabilitesMFC.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. MFC.CA Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 8.76% over the past year.
  • MFC shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.86% yearly.
  • Looking at the last year, MFC shows a small growth in Revenue. The Revenue has grown by 3.39% in the last year.
  • MFC shows a very negative growth in Revenue. Measured over the last years, the Revenue has been decreasing by -11.65% yearly.
EPS 1Y (TTM)8.76%
EPS 3Y10.83%
EPS 5Y8.86%
EPS Q2Q%8.74%
Revenue 1Y (TTM)3.39%
Revenue growth 3Y19.45%
Revenue growth 5Y-11.65%
Sales Q2Q%-24.06%

3.2 Future

  • The Earnings Per Share is expected to grow by 4.26% on average over the next years.
  • Based on estimates for the next years, MFC will show a quite strong growth in Revenue. The Revenue will grow by 13.32% on average per year.
EPS Next Y9.32%
EPS Next 2Y9.22%
EPS Next 3Y9.66%
EPS Next 5Y4.26%
Revenue Next Year8.5%
Revenue Next 2Y6.04%
Revenue Next 3Y16.24%
Revenue Next 5Y13.32%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less 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.CA Yearly Revenue VS EstimatesMFC.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 20B 40B 60B 80B
MFC.CA Yearly EPS VS EstimatesMFC.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1 2 3 4 5

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5

4. MFC.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 11.51, the valuation of MFC can be described as very reasonable.
  • Based on the Price/Earnings ratio, MFC is valued a bit more expensive than 68.35% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 25.60. MFC is valued rather cheaply when compared to this.
  • A Price/Forward Earnings ratio of 10.53 indicates a reasonable valuation of MFC.
  • Based on the Price/Forward Earnings ratio, MFC is valued a bit more expensive than the industry average as 63.29% of the companies are valued more cheaply.
  • MFC's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.84.
Industry RankSector Rank
PE 11.51
Fwd PE 10.53
MFC.CA Price Earnings VS Forward Price EarningsMFC.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • MFC's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. MFC is cheaper than 69.62% of the companies in the same industry.
  • 72.15% of the companies in the same industry are more expensive than MFC, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 2.54
EV/EBITDA 7.3
MFC.CA Per share dataMFC.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.23
PEG (5Y)1.3
EPS Next 2Y9.22%
EPS Next 3Y9.66%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. MFC.CA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 4.15%, MFC is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 3.85, MFC is paying slightly less dividend.
  • Compared to an average S&P500 Dividend Yield of 1.90, MFC pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.15%

5.2 History

  • The dividend of MFC is nicely growing with an annual growth rate of 10.03%!
  • MFC has been paying a dividend for at least 10 years, so it has a reliable track record.
  • MFC has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)10.03%
Div Incr Years11
Div Non Decr Years14
MFC.CA Yearly Dividends per shareMFC.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5

5.3 Sustainability

  • MFC pays out 62.94% of its income as dividend. This is not a sustainable payout ratio.
  • The dividend of MFC is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP62.94%
EPS Next 2Y9.22%
EPS Next 3Y9.66%
MFC.CA Yearly Income VS Free CF VS DividendMFC.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B 20B 30B
MFC.CA Dividend Payout.MFC.CA Dividend Payout, showing the Payout Ratio.MFC.CA Dividend Payout.PayoutRetained Earnings

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MFC.CA Fundamentals: All Metrics, Ratios and Statistics

MANULIFE FINANCIAL CORP

TSX:MFC (4/2/2026, 7:00:00 PM)

48.57

+0.25 (+0.52%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)02-11
Earnings (Next)05-05
Inst Owners55.76%
Inst Owner ChangeN/A
Ins Owners0.06%
Ins Owner ChangeN/A
Market Cap81.41B
Revenue(TTM)38.71B
Net Income(TTM)5.25B
Analysts75.79
Price Target56.76 (16.86%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.15%
Yearly Dividend1.94
Dividend Growth(5Y)10.03%
DP62.94%
Div Incr Years11
Div Non Decr Years14
Ex-Date02-25
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7.84%
Min EPS beat(2)4.6%
Max EPS beat(2)11.07%
EPS beat(4)2
Avg EPS beat(4)3.07%
Min EPS beat(4)-2.89%
Max EPS beat(4)11.07%
EPS beat(8)6
Avg EPS beat(8)3.82%
EPS beat(12)9
Avg EPS beat(12)4.24%
EPS beat(16)11
Avg EPS beat(16)3.12%
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)0%
PT rev (3m)5.56%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.44%
EPS NY rev (1m)1.1%
EPS NY rev (3m)1.27%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 11.51
Fwd PE 10.53
P/S 2.1
P/FCF 2.54
P/OCF 2.54
P/B 1.6
P/tB 2.11
EV/EBITDA 7.3
EPS(TTM)4.22
EY8.69%
EPS(NY)4.61
Fwd EY9.5%
FCF(TTM)19.15
FCFY39.43%
OCF(TTM)19.15
OCFY39.43%
SpS23.09
BVpS30.4
TBVpS23.05
PEG (NY)1.23
PEG (5Y)1.3
Graham Number53.73
Profitability
Industry RankSector Rank
ROA 0.51%
ROE 10.3%
ROCE 0.86%
ROIC 0.73%
ROICexc 0.75%
ROICexgc 1.75%
OM 22.28%
PM (TTM) 13.57%
GM N/A
FCFM 82.95%
ROA(3y)0.53%
ROA(5y)0.41%
ROE(3y)10.1%
ROE(5y)7.53%
ROIC(3y)0.76%
ROIC(5y)N/A
ROICexc(3y)0.78%
ROICexc(5y)N/A
ROICexgc(3y)1.78%
ROICexgc(5y)N/A
ROCE(3y)0.9%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5Y4.35%
ROICexc growth 3YN/A
ROICexc growth 5Y3.45%
OM growth 3YN/A
OM growth 5Y20.81%
PM growth 3YN/A
PM growth 5Y11.35%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF 0.46
Debt/EBITDA 1.54
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 5.69
Cash Conversion 337.91%
Profit Quality 611.41%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score6
WACC8.07%
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)519.68%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)8.76%
EPS 3Y10.83%
EPS 5Y8.86%
EPS Q2Q%8.74%
EPS Next Y9.32%
EPS Next 2Y9.22%
EPS Next 3Y9.66%
EPS Next 5Y4.26%
Revenue 1Y (TTM)3.39%
Revenue growth 3Y19.45%
Revenue growth 5Y-11.65%
Sales Q2Q%-24.06%
Revenue Next Year8.5%
Revenue Next 2Y6.04%
Revenue Next 3Y16.24%
Revenue Next 5Y13.32%
EBIT growth 1Y-1.68%
EBIT growth 3YN/A
EBIT growth 5Y6.73%
EBIT Next Year-67.9%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y21.18%
FCF growth 3Y24.52%
FCF growth 5Y9.88%
OCF growth 1Y21.18%
OCF growth 3Y24.52%
OCF growth 5Y9.88%

MANULIFE FINANCIAL CORP / MFC.CA Fundamental Analysis FAQ

What is the fundamental rating for MFC stock?

ChartMill assigns a fundamental rating of 5 / 10 to MFC.CA.


Can you provide the valuation status for MANULIFE FINANCIAL CORP?

ChartMill assigns a valuation rating of 5 / 10 to MANULIFE FINANCIAL CORP (MFC.CA). This can be considered as Fairly Valued.


Can you provide the profitability details for MANULIFE FINANCIAL CORP?

MANULIFE FINANCIAL CORP (MFC.CA) has a profitability rating of 5 / 10.


What are the PE and PB ratios of MANULIFE FINANCIAL CORP (MFC.CA) stock?

The Price/Earnings (PE) ratio for MANULIFE FINANCIAL CORP (MFC.CA) is 11.51 and the Price/Book (PB) ratio is 1.6.


How financially healthy is MANULIFE FINANCIAL CORP?

The financial health rating of MANULIFE FINANCIAL CORP (MFC.CA) is 4 / 10.