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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

20.68  -0.05 (-0.24%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to MFC-PR-B. MFC-PR-B was compared to 79 industry peers in the Insurance industry. MFC-PR-B has an average financial health and profitability rating. MFC-PR-B has a decent growth rate and is not valued too expensively. Finally MFC-PR-B also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

MFC-PR-B had positive earnings in the past year.
MFC-PR-B had a positive operating cash flow in the past year.
MFC-PR-B had positive earnings in 4 of the past 5 years.
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 (0.48%) which is in line with its industry peers.
With a Return On Equity value of 9.06%, MFC-PR-B is not doing good in the industry: 82.28% of the companies in the same industry are doing better.
MFC-PR-B has a better Return On Invested Capital (0.72%) than 64.56% 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

Looking at the Profit Margin, with a value of 12.55%, MFC-PR-B belongs to the top of the industry, outperforming 91.14% of the companies in the same industry.
MFC-PR-B's Profit Margin has improved in the last couple of years.
MFC-PR-B's Operating Margin of 21.86% is amongst the best of the industry. MFC-PR-B outperforms 87.34% 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

MFC-PR-B has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for MFC-PR-B has been reduced compared to 1 year ago.
Compared to 5 years ago, MFC-PR-B has less shares outstanding
MFC-PR-B has a better debt/assets ratio than last year.
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

The Debt to FCF ratio of MFC-PR-B is 0.50, which is an excellent value as it means it would take MFC-PR-B, only 0.50 years of fcf income to pay off all of its debts.
MFC-PR-B's Debt to FCF ratio of 0.50 is amongst the best of the industry. MFC-PR-B outperforms 92.41% of its industry peers.
MFC-PR-B has a Debt/Equity ratio of 0.27. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of MFC-PR-B (0.27) is better than 75.95% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 0.5
Altman-Z N/A
ROIC/WACC0.07
WACC10.05%
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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5

3. Growth

3.1 Past

MFC-PR-B shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 8.86%, which is quite good.
MFC-PR-B shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 5.49% yearly.
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.
The Revenue for MFC-PR-B have been decreasing by -13.62% on average. This is quite bad
EPS 1Y (TTM)8.86%
EPS 3Y6.08%
EPS 5Y5.49%
EPS Q2Q%5.32%
Revenue 1Y (TTM)11.13%
Revenue growth 3Y-12.52%
Revenue growth 5Y-13.62%
Sales Q2Q%-11.27%

3.2 Future

MFC-PR-B is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.15% yearly.
Based on estimates for the next years, MFC-PR-B will show a quite strong growth in Revenue. The Revenue will grow by 18.63% on average per year.
EPS Next Y7.65%
EPS Next 2Y8.57%
EPS Next 3Y6.76%
EPS Next 5Y5.15%
Revenue Next Year9.3%
Revenue Next 2Y7.46%
Revenue Next 3Y6.55%
Revenue Next 5Y18.63%

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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6

4. Valuation

4.1 Price/Earnings Ratio

MFC-PR-B is valuated cheaply with a Price/Earnings ratio of 5.26.
The rest of the industry has a similar Price/Earnings ratio as MFC-PR-B.
The average S&P500 Price/Earnings ratio is at 27.28. MFC-PR-B is valued rather cheaply when compared to this.
A Price/Forward Earnings ratio of 4.52 indicates a rather cheap valuation of MFC-PR-B.
Compared to the rest of the industry, the Price/Forward Earnings ratio of MFC-PR-B is on the same level as its industry peers.
When comparing the Price/Forward Earnings ratio of MFC-PR-B to the average of the S&P500 Index (21.76), we can say MFC-PR-B is valued rather cheaply.
Industry RankSector Rank
PE 5.26
Fwd PE 4.52
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

78.48% of the companies in the same industry are more expensive than MFC-PR-B, based on the Enterprise Value to EBITDA ratio.
62.03% 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 1.24
EV/EBITDA 2.67
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

MFC-PR-B's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.69
PEG (5Y)0.96
EPS Next 2Y8.57%
EPS Next 3Y6.76%

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7

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 5.63%, MFC-PR-B is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 4.99, MFC-PR-B has a dividend in line with its industry peers.
MFC-PR-B's Dividend Yield is rather good when compared to the S&P500 average which is at 2.42.
Industry RankSector Rank
Dividend Yield 5.63%

5.2 History

The dividend of MFC-PR-B is nicely growing with an annual growth rate of 20.17%!
MFC-PR-B has been paying a dividend for at least 10 years, so it has a reliable track record.
MFC-PR-B has not decreased their dividend for at least 10 years, which is a reliable track record.
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

67.87% of the earnings are spent on dividend by MFC-PR-B. 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 (7/2/2025, 7:00:00 PM)

20.68

-0.05 (-0.24%)

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 Owners55.65%
Inst Owner ChangeN/A
Ins Owners0.06%
Ins Owner ChangeN/A
Market Cap35.42B
Analysts76.47
Price Target24.29 (17.46%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.63%
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)3.67%
Min EPS beat(2)-0.52%
Max EPS beat(2)7.87%
EPS beat(4)3
Avg EPS beat(4)3.94%
Min EPS beat(4)-0.52%
Max EPS beat(4)7.87%
EPS beat(8)7
Avg EPS beat(8)5.06%
EPS beat(12)9
Avg EPS beat(12)3.72%
EPS beat(16)11
Avg EPS beat(16)2.45%
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)5.44%
PT rev (3m)-1.58%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-3.18%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.98%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-4.68%
Valuation
Industry RankSector Rank
PE 5.26
Fwd PE 4.52
P/S 0.95
P/FCF 1.24
P/OCF 1.24
P/B 0.68
P/tB 0.87
EV/EBITDA 2.67
EPS(TTM)3.93
EY19%
EPS(NY)4.57
Fwd EY22.12%
FCF(TTM)16.7
FCFY80.76%
OCF(TTM)16.7
OCFY80.76%
SpS21.83
BVpS30.23
TBVpS23.76
PEG (NY)0.69
PEG (5Y)0.96
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
WACC10.05%
ROIC/WACC0.07
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)8.86%
EPS 3Y6.08%
EPS 5Y5.49%
EPS Q2Q%5.32%
EPS Next Y7.65%
EPS Next 2Y8.57%
EPS Next 3Y6.76%
EPS Next 5Y5.15%
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 5Y18.63%
EBIT growth 1Y7.6%
EBIT growth 3Y-1.3%
EBIT growth 5Y3.07%
EBIT Next Year-70.64%
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%