MFC

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Manulife Financial Corp.

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Key Metrics

Previous Close: $42.93
52-Week Range: $31.41 – $45.33
Market Cap: $71.52B
P/E (TTM): 16.17
EPS (TTM): 2.67
Dividend Yield: 3.17%

Advanced Metrics

Price/Book: 1.97
PEG Ratio: 0.88
Return on Equity: 13.31%
Return on Assets: 0.60%
Gross Margin: 50.82%
Operating Margin: 28.25%
Profit Margin: 20.31%
Current Ratio: 29.53
Debt/Equity: 0.42
Total Debt: $23.34B
Free Cash Flow: $1.54B
Revenue Growth: 10.70%
Earnings Growth: 22.40%
Enterprise Value: $65.85B

MFC Income statement, annual periods, in CAD
CAD	FY2022	FY2023	FY2024	FY2025
Revenue	$24.16B	-$7.04B	-$7.29B	$53.01B
Selling, General & Admin	$3.73B	$4.33B	$4.86B	$4.90B
Pretax Income	-$3.14B	$6.45B	$7.09B	$7.09B
Income Tax	-$1.16B	$845.00M	$1.21B	$1.03B
Net Income	-$2.10B	$5.46B	$5.63B	$5.78B
Diluted EPS	3.68	2.61	2.84	3.07
Diluted Shares	1.91B	1.84B	1.78B	1.71B

MFC Balance Sheet statement, annual periods, in CAD
CAD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$19.15B	$20.34B	$25.79B	$26.70B
Receivables	$1.45B	—	—	—
Total Assets	$833.69B	$875.57B	$978.82B	$1.03T
Long-Term Debt	$11.74B	$12.14B	$14.16B	$12.93B
Total Debt	$12.36B	$12.74B	$14.16B	$14.68B
Total Liabilities	$785.46B	$826.85B	$925.86B	$972.95B
Retained Earnings	$3.95B	$4.82B	$4.76B	$5.02B
Shareholders' Equity	$46.80B	$47.30B	$51.54B	$50.96B

MFC Cash Flow statement, annual periods, in CAD
CAD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$16.63B	$20.42B	$26.49B	$32.10B
Free Cash Flow	$16.63B	$20.42B	$26.49B	$32.10B
Depreciation & Amortisation	-$1.47B	-$1.42B	-$1.51B	-$1.83B
Stock-Based Compensation	$5.00M	$2.00M	$0.00	—
Investing Cash Flow	-$18.40B	-$13.72B	-$18.46B	-$28.36B
Financing Cash Flow	-$2.11B	-$5.04B	-$4.17B	-$2.05B
Dividends Paid	-$2.79B	-$2.97B	-$3.16B	-$3.31B
Share Repurchases	-$2.60B	-$1.59B	-$3.27B	-$2.43B
Net Change in Cash	-$3.88B	$1.66B	$3.86B	$1.69B

MFC Income statement, quarterly periods, in CAD
CAD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$9.04B	$41.13B	$17.31B	$8.60B	$11.86B	$19.71B
Selling, General & Admin	$1.20B	$1.14B	$1.23B	$1.33B	$1.25B	$1.25B
Pretax Income	$699.00M	$2.26B	$2.23B	$1.91B	$1.47B	$2.77B
Income Tax	$76.00M	$338.00M	$310.00M	$310.00M	$230.00M	$454.00M
Net Income	$557.00M	$1.87B	$1.79B	$1.56B	$1.19B	$2.18B
Diluted EPS	0.25	0.98	1.02	—	0.65	1.20
Diluted Shares	1.73B	1.72B	1.70B	—	1.68B	1.67B

MFC Balance Sheet statement, quarterly periods, in CAD
CAD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$25.36B	$23.77B	$25.83B	$26.70B	$24.99B	$27.54B
Total Assets	$981.42B	$977.47B	$1.03T	$1.03T	$1.03T	$1.09T
Long-Term Debt	$14.18B	$13.28B	$13.43B	$12.93B	$13.07B	$13.74B
Total Debt	$14.18B	$13.28B	$13.43B	$14.68B	$13.45B	$14.13B
Total Liabilities	$928.25B	$926.22B	$973.69B	$972.95B	$973.46B	$1.04T
Retained Earnings	$4.08B	$4.54B	$5.09B	$5.02B	$5.03B	$5.76B
Shareholders' Equity	$51.77B	$49.85B	$51.44B	$50.96B	$51.50B	$53.26B

MFC Cash Flow statement, quarterly periods, in CAD
CAD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$6.87B	$6.90B	$9.73B	$8.61B	$3.54B	$9.08B
Free Cash Flow	$6.87B	$6.90B	$9.73B	$8.61B	$3.54B	$9.08B
Depreciation & Amortisation	-$428.00M	-$411.00M	-$484.00M	-$506.00M	-$486.00M	-$604.00M
Investing Cash Flow	-$6.52B	-$5.93B	-$7.81B	-$8.10B	-$2.99B	-$8.18B
Financing Cash Flow	-$858.00M	-$1.62B	-$22.00M	$453.00M	-$2.62B	$1.30B
Dividends Paid	-$802.00M	-$856.00M	-$804.00M	-$843.00M	-$862.00M	-$911.00M
Share Repurchases	-$507.00M	-$653.00M	-$613.00M	-$658.00M	-$371.00M	-$599.00M
Net Change in Cash	-$506.00M	-$659.00M	$1.90B	$956.00M	-$2.07B	$2.20B

Market Snapshot

About

Manulife Financial Corporation is a leading Canadian-based international financial services provider. The company offers life insurance, pension plans, investment products, and wealth management solutions across Canada, Asia, and the United States, serving millions of customers through a diversified business model.