(MFC) Manulife Financial - Ratings and Ratios
Insurance, Annuities, Wealth, Asset Management, Banking
Dividends
| Dividend Yield | 3.57% |
| Yield on Cost 5y | 9.08% |
| Yield CAGR 5y | 1.19% |
| Payout Consistency | 94.1% |
| Payout Ratio | 37.0% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 22.2% |
| Value at Risk 5%th | 35.0% |
| Relative Tail Risk | -4.39% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.49 |
| Alpha | -0.05 |
| CAGR/Max DD | 1.90 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.351 |
| Beta | 1.023 |
| Beta Downside | 1.192 |
| Drawdowns 3y | |
|---|---|
| Max DD | 16.75% |
| Mean DD | 3.74% |
| Median DD | 2.98% |
Description: MFC Manulife Financial September 26, 2025
Manulife Financial Corp (NYSE:MFC) operates globally through three primary segments: Wealth & Asset Management, Insurance & Annuity Products, and Corporate & Other. The Wealth & Asset Management arm delivers investment advice and retirement solutions to retail, institutional, and pension-plan clients via agents, broker-dealers, financial advisors, and bank partners. The Insurance & Annuity Products segment sells life, long-term care, and annuity policies, as well as deposit and credit products, through a mix of agents, brokers, banks, and direct-to-consumer channels. The Corporate & Other segment includes property-and-casualty reinsurance, run-off operations, timberland and agricultural investments, and ancillary services such as brokerage, fund management, and integrated banking.
Key financial indicators from the most recent annual report (2023) show a net income of roughly US $7.4 billion, a return on equity (ROE) of 13 % and a dividend yield near 6.5 %, placing Manulife among the higher-yielding insurers in North America. The company’s capital adequacy ratios-Core Tier 1 at 13.5 % and Total Capital at 19 %-exceed the minimum requirements set by Canadian regulators, providing a buffer against underwriting volatility.
From a macro-economic perspective, Manulife’s earnings are sensitive to interest-rate movements because longer-duration life-insurance liabilities are marked to market; a 100-basis-point rise in rates historically lifts its net interest margin by about 0.8 % (based on a 2022-2023 internal sensitivity analysis). Additionally, the firm’s exposure to the U.S. market-accounting for roughly 45 % of total premiums-means that U.S. mortality trends and healthcare cost inflation are material drivers of future underwriting profitability. In the Asian segment, growth in middle-class wealth is a leading catalyst, but it also introduces currency risk; the 2024 forward FX outlook suggests a potential 2-3 % depreciation of the Canadian dollar relative to the yuan, which could erode reported earnings if not hedged.
For a deeper, data-driven dive into how these drivers translate into valuation metrics, you might explore the analyst dashboards on ValueRay, where scenario-based models can help quantify the impact of interest-rate shifts and currency movements on Manulife’s projected cash flows.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income (5.91b TTM) > 0 and > 6% of Revenue (6% = 4.30b TTM) |
| FCFTA 0.03 (>2.0%) and ΔFCFTA 0.30pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -30.75% (prev 45.98%; Δ -76.72pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.03 (>3.0%) and CFO 30.63b > Net Income 5.91b (YES >=105%, WARN >=100%) |
| Net Debt (-12.40b) to EBITDA (7.33b) ratio: -1.69 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.54 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (1.70b) change vs 12m ago -4.44% (target <= -2.0% for YES) |
| Gross Margin 19.18% (prev -13.54%; Δ 32.72pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 7.24% (prev 5.09%; Δ 2.16pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 5.73 (EBITDA TTM 7.33b / Interest Expense TTM 1.54b) >= 6 (WARN >= 3) |
Altman Z'' -0.02
| (A) -0.02 = (Total Current Assets 25.79b - Total Current Liabilities 47.83b) / Total Assets 1026.68b |
| (B) 0.00 = Retained Earnings (Balance) 5.09b / Total Assets 1026.68b |
| (C) 0.01 = EBIT TTM 8.85b / Avg Total Assets 989.66b |
| (D) 0.05 = Book Value of Equity 43.86b / Total Liabilities 973.69b |
| Total Rating: -0.02 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 77.92
| 1. Piotroski 5.50pt |
| 2. FCF Yield 45.37% |
| 3. FCF Margin 42.72% |
| 4. Debt/Equity 0.26 |
| 5. Debt/Ebitda -1.69 |
| 6. ROIC - WACC (= 4.34)% |
| 7. RoE 11.54% |
| 8. Rev. Trend 49.57% |
| 9. EPS Trend -2.89% |
What is the price of MFC shares?
Over the past week, the price has changed by +0.77%, over one month by +7.38%, over three months by +16.32% and over the past year by +13.16%.
Is MFC a buy, sell or hold?
- Strong Buy: 3
- Buy: 5
- Hold: 4
- Sell: 1
- Strong Sell: 0
What are the forecasts/targets for the MFC price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 31.6 | -10.2% |
| Analysts Target Price | 31.6 | -10.2% |
| ValueRay Target Price | 44.5 | 26.7% |
MFC Fundamental Data Overview November 22, 2025
P/E Trailing = 15.1839
P/E Forward = 10.5708
P/S = 1.7877
P/B = 1.7897
P/EG = 0.7746
Beta = 0.872
Revenue TTM = 71.70b CAD
EBIT TTM = 8.85b CAD
EBITDA TTM = 7.33b CAD
Long Term Debt = 13.43b CAD (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = 13.43b CAD (from shortLongTermDebtTotal, last quarter)
Net Debt = -12.40b CAD (from netDebt column, last quarter)
Enterprise Value = 67.50b CAD (79.90b + Debt 13.43b - CCE 25.83b)
Interest Coverage Ratio = 5.73 (Ebit TTM 8.85b / Interest Expense TTM 1.54b)
FCF Yield = 45.37% (FCF TTM 30.63b / Enterprise Value 67.50b)
FCF Margin = 42.72% (FCF TTM 30.63b / Revenue TTM 71.70b)
Net Margin = 8.24% (Net Income TTM 5.91b / Revenue TTM 71.70b)
Gross Margin = 19.18% ((Revenue TTM 71.70b - Cost of Revenue TTM 57.95b) / Revenue TTM)
Gross Margin QoQ = 22.24% (prev 9.14%)
Tobins Q-Ratio = 0.07 (Enterprise Value 67.50b / Total Assets 1026.68b)
Interest Expense / Debt = 2.89% (Interest Expense 388.0m / Debt 13.43b)
Taxrate = 13.91% (310.0m / 2.23b)
NOPAT = 7.62b (EBIT 8.85b * (1 - 13.91%))
Current Ratio = 0.54 (Total Current Assets 25.79b / Total Current Liabilities 47.83b)
Debt / Equity = 0.26 (Debt 13.43b / totalStockholderEquity, last quarter 51.44b)
Debt / EBITDA = -1.69 (Net Debt -12.40b / EBITDA 7.33b)
Debt / FCF = -0.41 (Net Debt -12.40b / FCF TTM 30.63b)
Total Stockholder Equity = 51.15b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.58% (Net Income 5.91b / Total Assets 1026.68b)
RoE = 11.54% (Net Income TTM 5.91b / Total Stockholder Equity 51.15b)
RoCE = 13.70% (EBIT 8.85b / Capital Employed (Equity 51.15b + L.T.Debt 13.43b))
RoIC = 13.08% (NOPAT 7.62b / Invested Capital 58.25b)
WACC = 8.74% (E(79.90b)/V(93.33b) * Re(9.79%) + D(13.43b)/V(93.33b) * Rd(2.89%) * (1-Tc(0.14)))
Discount Rate = 9.79% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -4.88%
[DCF Debug] Terminal Value 75.42% ; FCFE base≈28.59b ; Y1≈34.12b ; Y5≈53.95b
Fair Price DCF = 403.7 (DCF Value 680.25b / Shares Outstanding 1.68b; 5y FCF grow 20.65% → 3.0% )
EPS Correlation: -2.89 | EPS CAGR: 8.99% | SUE: 1.14 | # QB: 1
Revenue Correlation: 49.57 | Revenue CAGR: -5.15% | SUE: 0.44 | # QB: 0
EPS next Quarter (2026-03-31): EPS=1.09 | Chg30d=+0.030 | Revisions Net=+4 | Analysts=8
EPS next Year (2026-12-31): EPS=4.50 | Chg30d=+0.102 | Revisions Net=+9 | Growth EPS=+8.4% | Growth Revenue=+3.2%
Additional Sources for MFC Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle