MANULIFE FINANCIAL CORP (MFC.CA) Stock Fundamental Analysis

TSX:MFC • CA56501R1064

48.57 CAD
-0.44 (-0.9%)
Last: Feb 27, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

MFC gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 79 industry peers in the Insurance industry. Both the profitability and the financial health of MFC get a neutral evaluation. Nothing too spectacular is happening here. MFC has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

5

1. Profitability

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.
  • MFC had a positive operating cash flow in each of the past 5 years.
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

  • With a Return On Assets value of 0.51%, MFC perfoms like the industry average, outperforming 48.10% of the companies in the same industry.
  • MFC has a worse Return On Equity (10.30%) 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 59.49% 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 3.06%.
Industry RankSector Rank
ROA 0.51%
ROE 10.3%
ROIC 0.73%
ROA(3y)0.53%
ROA(5y)0.41%
ROE(3y)10.13%
ROE(5y)7.55%
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

  • MFC's Profit Margin of 13.57% is amongst the best of the industry. MFC outperforms 81.01% of its industry peers.
  • MFC's Profit Margin has improved in the last couple of years.
  • The Operating Margin of MFC (22.28%) is better than 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 5Y20.92%
PM growth 3YN/A
PM growth 5Y11.52%
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

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. Health

2.1 Basic Checks

  • MFC 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 has been reduced compared to 1 year ago.
  • The number of shares outstanding for MFC has been reduced compared to 5 years ago.
  • MFC has a better debt/assets ratio than last year.
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

  • The Debt to FCF ratio of MFC is 0.46, which is an excellent value as it means it would take MFC, only 0.46 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 0.46, MFC belongs to the top of the industry, outperforming 82.28% of the companies in the same industry.
  • A Debt/Equity ratio of 0.29 indicates that MFC is not too dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.29, MFC is doing worse than 62.03% of the companies in the same industry.
  • Although MFC does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF 0.46
Altman-Z N/A
ROIC/WACC0.09
WACC8.16%
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. Growth

3.1 Past

  • The Earnings Per Share has grown by an nice 8.76% over the past year.
  • The Earnings Per Share has been growing by 8.86% on average over the past years. This is quite good.
  • The Revenue has been growing slightly by 3.39% in the past 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

  • MFC is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.26% yearly.
  • The Revenue is expected to grow by 12.25% on average over the next years. This is quite good.
EPS Next Y8.14%
EPS Next 2Y8.83%
EPS Next 3Y4.94%
EPS Next 5Y4.26%
Revenue Next Year8.5%
Revenue Next 2Y6.04%
Revenue Next 3Y16.24%
Revenue Next 5Y12.25%

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

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Find the best growth stocksShow best growing peers

5

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 11.51, which indicates a very decent valuation of MFC.
  • Compared to the rest of the industry, the Price/Earnings ratio of MFC indicates a slightly more expensive valuation: MFC is more expensive than 68.35% of the companies listed in the same industry.
  • The average S&P500 Price/Earnings ratio is at 27.10. MFC is valued rather cheaply when compared to this.
  • A Price/Forward Earnings ratio of 10.64 indicates a reasonable valuation of MFC.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of MFC indicates a slightly more expensive valuation: MFC is more expensive than 60.76% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 28.06, MFC is valued rather cheaply.
Industry RankSector Rank
PE 11.51
Fwd PE 10.64
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

  • Based on the Enterprise Value to EBITDA ratio, MFC is valued a bit cheaper than 68.35% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, MFC is valued a bit cheaper than the industry average as 70.89% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 2.54
EV/EBITDA 7.39
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)1.41
PEG (5Y)1.3
EPS Next 2Y8.83%
EPS Next 3Y4.94%

More info and screens

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

5

5. Dividend

5.1 Amount

  • MFC has a Yearly Dividend Yield of 3.91%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 4.24, MFC is paying slightly less dividend.
  • Compared to an average S&P500 Dividend Yield of 1.80, MFC pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.91%

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 2Y8.83%
EPS Next 3Y4.94%
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

More info and screens

Find the best dividend stocksShow peers with best dividend

MANULIFE FINANCIAL CORP

TSX:MFC (2/27/2026, 7:00:00 PM)

48.57

-0.44 (-0.9%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)02-11
Earnings (Next)05-05
Inst Owners56.4%
Inst Owner ChangeN/A
Ins Owners0.06%
Ins Owner ChangeN/A
Market Cap81.46B
Revenue(TTM)38.71B
Net Income(TTM)5.25B
Analysts75.79
Price Target55.95 (15.19%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.91%
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)2.13%
PT rev (3m)4.63%
EPS NQ rev (1m)1.62%
EPS NQ rev (3m)1.44%
EPS NY rev (1m)0%
EPS NY rev (3m)3.12%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.86%
Valuation
Industry RankSector Rank
PE 11.51
Fwd PE 10.64
P/S 2.1
P/FCF 2.54
P/OCF 2.54
P/B 1.6
P/tB 2.11
EV/EBITDA 7.39
EPS(TTM)4.22
EY8.69%
EPS(NY)4.56
Fwd EY9.4%
FCF(TTM)19.14
FCFY39.41%
OCF(TTM)19.14
OCFY39.41%
SpS23.08
BVpS30.38
TBVpS23.03
PEG (NY)1.41
PEG (5Y)1.3
Graham Number53.71
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)10.13%
ROE(5y)7.55%
ROIC(3y)0.76%
ROIC(5y)N/A
ROICexc(3y)0.78%
ROICexc(5y)N/A
ROICexgc(3y)1.79%
ROICexgc(5y)N/A
ROCE(3y)0.91%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5Y4.45%
ROICexc growth 3YN/A
ROICexc growth 5Y3.55%
OM growth 3YN/A
OM growth 5Y20.92%
PM growth 3YN/A
PM growth 5Y11.52%
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
WACC8.16%
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)518.1%
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 Y8.14%
EPS Next 2Y8.83%
EPS Next 3Y4.94%
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 5Y12.25%
EBIT growth 1Y-1.68%
EBIT growth 3YN/A
EBIT growth 5Y6.83%
EBIT Next Year-66.93%
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 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.


How profitable is MANULIFE FINANCIAL CORP (MFC.CA) stock?

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


How financially healthy is MANULIFE FINANCIAL CORP?

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


What is the earnings growth outlook for MANULIFE FINANCIAL CORP?

The Earnings per Share (EPS) of MANULIFE FINANCIAL CORP (MFC.CA) is expected to grow by 8.14% in the next year.