MANULIFE FINANCIAL CORP (MFC.CA) Stock Fundamental Analysis

TSX:MFC • CA56501R1064

50.64 CAD
+0.57 (+1.14%)
Last: Feb 18, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

4

Overall MFC gets a fundamental rating of 4 out of 10. We evaluated MFC against 76 industry peers in the Insurance industry. There are concerns on the financial health of MFC while its profitability can be described as average. MFC has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • In the past year MFC was profitable.
  • MFC had a positive operating cash flow in the past year.
  • The reported net income has been mixed in the past 5 years: MFC reported negative net income in multiple years.
  • Of the past 5 years MFC 4 years 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 0 5B 10B 15B 20B 25B

1.2 Ratios

  • With a Return On Assets value of 0.53%, MFC perfoms like the industry average, outperforming 48.68% of the companies in the same industry.
  • MFC has a worse Return On Equity (10.48%) than 78.95% of its industry peers.
  • MFC has a Return On Invested Capital (0.75%) which is comparable to the rest of the industry.
Industry RankSector Rank
ROA 0.53%
ROE 10.48%
ROIC 0.75%
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.CA Yearly ROA, ROE, ROICMFC.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10

1.3 Margins

  • With an excellent Profit Margin value of 13.87%, MFC belongs to the best of the industry, outperforming 80.26% of the companies in the same industry.
  • In the last couple of years the Profit Margin of MFC has grown nicely.
  • The Operating Margin of MFC (22.75%) is better than 77.63% of its industry peers.
  • In the last couple of years the Operating Margin of MFC has grown nicely.
Industry RankSector Rank
OM 22.75%
PM (TTM) 13.87%
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.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 0 10 20

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MFC is destroying value.
  • MFC has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
MFC.CA Yearly Shares OutstandingMFC.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 200B 400B 600B 800B

2.2 Solvency

  • The Debt to FCF ratio of MFC is 0.44, which is an excellent value as it means it would take MFC, only 0.44 years of fcf income to pay off all of its debts.
  • With an excellent Debt to FCF ratio value of 0.44, MFC belongs to the best of the industry, outperforming 81.58% of the companies in the same industry.
  • MFC has a Debt/Equity ratio of 0.26. This is a healthy value indicating a solid balance between debt and equity.
  • The Debt to Equity ratio of MFC (0.26) is better than 75.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.26
Debt/FCF 0.44
Altman-Z N/A
ROIC/WACC0.09
WACC8.29%
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 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 5B 10B 15B 20B

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

3

3. Growth

3.1 Past

  • The Earnings Per Share has been growing slightly by 7.88% over the past year.
  • The Earnings Per Share has been growing by 8.69% on average over the past years. This is quite good.
EPS 1Y (TTM)7.88%
EPS 3Y10.53%
EPS 5Y8.69%
EPS Q2Q%5.43%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%14.32%

3.2 Future

  • The Earnings Per Share is expected to grow by 4.47% on average over the next years.
  • MFC is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 12.25% yearly.
EPS Next Y9.02%
EPS Next 2Y9.27%
EPS Next 3Y5.23%
EPS Next 5Y4.47%
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.
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

  • MFC is valuated correctly with a Price/Earnings ratio of 12.09.
  • Based on the Price/Earnings ratio, MFC is valued a bit more expensive than the industry average as 69.74% of the companies are valued more cheaply.
  • MFC's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.27.
  • The Price/Forward Earnings ratio is 11.10, which indicates a very decent valuation of MFC.
  • 63.16% of the companies in the same industry are cheaper than MFC, based on the Price/Forward Earnings ratio.
  • When comparing the Price/Forward Earnings ratio of MFC to the average of the S&P500 Index (28.16), we can say MFC is valued rather cheaply.
Industry RankSector Rank
PE 12.09
Fwd PE 11.1
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 67.11% 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 61.84% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 2.77
EV/EBITDA 7.33
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

  • MFC's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.34
PEG (5Y)1.39
EPS Next 2Y9.27%
EPS Next 3Y5.23%

More info and screens

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

5

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 3.98%, MFC has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 3.93, MFC is paying slightly less dividend.
  • MFC's Dividend Yield is rather good when compared to the S&P500 average which is at 1.84.
Industry RankSector Rank
Dividend Yield 3.98%

5.2 History

  • The dividend of MFC is nicely growing with an annual growth rate of 20.17%!
  • 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)20.17%
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 0.5 1 1.5

5.3 Sustainability

  • 60.48% of the earnings are spent on dividend by MFC. This is not a sustainable payout ratio.
  • MFC's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP60.48%
EPS Next 2Y9.27%
EPS Next 3Y5.23%
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 0 5B 10B 15B 20B 25B
MFC.CA Dividend Payout.MFC.CA Dividend Payout, showing the Payout Ratio.MFC.CA Dividend Payout.PayoutRetained Earnings

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Find the best dividend stocksShow peers with best dividend

MANULIFE FINANCIAL CORP

TSX:MFC (2/18/2026, 7:00:00 PM)

50.64

+0.57 (+1.14%)

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 Cap84.93B
Revenue(TTM)N/A
Net Income(TTM)5.39B
Analysts75.79
Price Target55.95 (10.49%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.98%
Yearly Dividend1.79
Dividend Growth(5Y)20.17%
DP60.48%
Div Incr Years11
Div Non Decr Years14
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)4.09%
Min EPS beat(2)-2.89%
Max EPS beat(2)11.07%
EPS beat(4)2
Avg EPS beat(4)3.88%
Min EPS beat(4)-2.89%
Max EPS beat(4)11.07%
EPS beat(8)6
Avg EPS beat(8)4.13%
EPS beat(12)9
Avg EPS beat(12)4.52%
EPS beat(16)11
Avg EPS beat(16)2.93%
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)4.06%
PT rev (3m)10.82%
EPS NQ rev (1m)0.3%
EPS NQ rev (3m)3.96%
EPS NY rev (1m)-0.05%
EPS NY rev (3m)3.75%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.44%
Valuation
Industry RankSector Rank
PE 12.09
Fwd PE 11.1
P/S 2.18
P/FCF 2.77
P/OCF 2.77
P/B 1.65
P/tB 2.1
EV/EBITDA 7.33
EPS(TTM)4.19
EY8.27%
EPS(NY)4.56
Fwd EY9.01%
FCF(TTM)18.26
FCFY36.06%
OCF(TTM)18.26
OCFY36.06%
SpS23.18
BVpS30.67
TBVpS24.13
PEG (NY)1.34
PEG (5Y)1.39
Graham Number53.77
Profitability
Industry RankSector Rank
ROA 0.53%
ROE 10.48%
ROCE 0.88%
ROIC 0.75%
ROICexc 0.77%
ROICexgc 1.81%
OM 22.75%
PM (TTM) 13.87%
GM N/A
FCFM 78.76%
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
ROICexgc growth 3Y-2.15%
ROICexgc 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-Score5
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.26
Debt/FCF 0.44
Debt/EBITDA 1.35
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 5.76
Cash Conversion 308.74%
Profit Quality 568.01%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score5
WACC8.29%
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)7.88%
EPS 3Y10.53%
EPS 5Y8.69%
EPS Q2Q%5.43%
EPS Next Y9.02%
EPS Next 2Y9.27%
EPS Next 3Y5.23%
EPS Next 5Y4.47%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%14.32%
Revenue Next Year8.5%
Revenue Next 2Y6.04%
Revenue Next 3Y16.24%
Revenue Next 5Y12.25%
EBIT growth 1Y1.1%
EBIT growth 3Y-1.3%
EBIT growth 5Y3.07%
EBIT Next Year-72.75%
EBIT Next 3Y-28.58%
EBIT Next 5YN/A
FCF growth 1Y60.02%
FCF growth 3Y4.59%
FCF growth 5Y5.22%
OCF growth 1Y60.02%
OCF growth 3Y4.59%
OCF growth 5Y5.22%

MANULIFE FINANCIAL CORP / MFC.CA FAQ

What is the fundamental rating for MFC stock?

ChartMill assigns a fundamental rating of 4 / 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 4 / 10.


How financially healthy is MANULIFE FINANCIAL CORP?

The financial health rating of MANULIFE FINANCIAL CORP (MFC.CA) is 3 / 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 9.02% in the next year.