Loading…
Canadian life and health insurer with large wealth/asset-management businesses in Canada, the US (John Hancock) and Asia.
Canadian life and health insurer with large wealth/asset-management businesses in Canada, the US (John Hancock) and Asia.
Collects premiums on insurance sold across Canada, the US and Asia and fees on assets it manages, such as retirement plans for workplace clients, then invests the premiums. John Hancock, bought in 2004, is its US arm, and Asia is the growth region. It has been reinsuring older US policies to reduce legacy risks.
In one line: Canada's MetLife / Prudential Financial.
Moat: narrow (scale, brand, distribution). Large multi-country distribution network and long-duration in-force insurance book.
Headquarters: Toronto, Canada · Founded: 1887 · Employees: 37,000
Size Manulife Financial (MFC.TO) is a Canada Financials company (Life/Health Insurance) with a market value of $72.2B, the 14th largest of 420 Canada companies the cockpit tracks. Shares closed at C$61.00 on 6 Nov 2026.
Performance Over six months the shares gained 12.8%, against +18.5% for the median peer and +5.2% for the Canada market (cap-weighted) — 6th lowest of 14 in its peer set.
Growth Revenue grew 18.3% over the last twelve months (peer median +4.1%); the operating margin is 15.2% (peer median 9.8%).
Valuation It trades at 2.22× book value against a peer median of 1.40× (6th most expensive of 14).
Price implies The share price implies a return on equity of about 13.0%; Manulife Financial delivers 12.9%, so the price asks more than the business earns today.
Credit Manulife Financial has 1 bond outstanding ($708M), rated A- by the agencies.
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$65.7B | C$61.1B | C$53.8B | C$50.3B | C$30.6B |
| Revenue growth | — | +14% | +7% | +65% | — |
| Net income | C$6.55B | C$5.57B | C$5.38B | C$5.10B | -C$1.93B |
| Free cash flow | C$30.8B | C$32.1B | C$26.5B | C$20.4B | C$16.6B |
| Capital expenditure | C$0 | C$0 | C$0 | C$0 | C$0 |
| Total debt | C$14.1B | C$14.7B | C$14.2B | C$12.7B | C$12.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Manulife Financial MFC.TO | $72.2B | +13% | +18% | 13% | 2.22× | 13.0% |
| Sun Life Financial SLF.TO | $40.1B | +7% | -1% | 13% | 2.38× | 13.7% |
| Great-West Lifeco GWO.TO | $57.4B | +18% | +4% | 16% | 3.02× | 15.7% |
| MetLife MET | $62.4B | +27% | +9% | 13% | 2.28× | 16.2% |
| Prudential Financial PRU | $41.1B | +20% | +4% | 13% | 1.39× | 11.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MFC.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.5% | +5.0% | 6th lowest of 14 |
| 6-month return | +12.8% | +18.5% | 6th lowest of 14 |
| Return on equity | 12.9% | 13.6% | 6th lowest of 14 |
| Price / book | 2.22× | 1.40× | 6th most expensive of 14 |
| Trailing P/E | 16.5× | 12.9× | 4th most expensive of 14 |
| ROE the price implies | 13.0% | 9.0% | 4th most demanding of 14 |
| ROE delivered | 12.9% | 13.6% | 5th lowest of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Manulife Financial MFC.TO | Canada | $72.2B | +13% | +18% | 13% | 2.22× | 13.0% | 12.9% |
| Munchener Ruckversicherungs-Gesellschaft MUV2.DE | Germany | $80.3B | +22% | 0% | 21% | 2.13× | 9.0% | 21.4% |
| Life Insurance Corp. of India LICI.NS | India | $53.0B | -3% | +11% | 7% | 0.68× | 11.8% | n/a |
| Cathay Financial Hldg 2882.TW | Taiwan | $47.0B | +42% | -16% | 15% | 1.40× | 7.0% | 14.6% |
| Prudential Financial PRU | United States | $41.1B | +20% | +4% | 13% | 1.39× | 11.4% | 12.6% |
| Hannover Rueck HNR1.DE | Germany | $39.6B | +24% | -2% | 22% | 2.66× | 8.3% | 22.4% |
| Japan Post Hldgs 6178.T | Japan | $39.0B | +24% | 0% | 5% | 0.62× | 4.4% | 4.5% |
| Daiichi Life 8750.T | Japan | $39.0B | +18% | +17% | 14% | 1.34× | 8.1% | 13.6% |
| Talanx TLX.DE | Germany | $37.6B | +24% | +2% | 20% | 2.33× | 10.2% | 19.8% |
| Swiss Life SLHN.SW | Switzerland | $33.0B | +14% | 0% | 20% | 4.25× | 15.4% | 20.0% |
| Bajaj Finserv BAJAJFINSV.NS | India | $31.6B | +2% | +17% | 13% | 3.55× | 54.3% | 13.3% |
| Samsung Life 032830.KS | South Korea | $31.0B | -6% | +13% | 3% | 0.29× | 4.5% | 3.2% |
| NN Group N.V. NN.AS | Netherlands | $22.4B | +4% | +39% | 9% | 1.08× | 6.9% | 9.2% |
| SBI Life Insurance SBILIFE.NS | India | $18.9B | -5% | +18% | 14% | 8.72× | 105.4% | 13.7% |
Manulife Financial has 1 bond outstanding with $708M face value. The agencies rate it A-.