Manulife Financial (MFC)
Market Price (11/7/2025): $33.17 | Market Cap: $56.7 BilSector: Financials | Industry: Life & Health Insurance
Manulife Financial (MFC)
Market Price (11/7/2025): $33.17Market Cap: $56.7 BilSector: FinancialsIndustry: Life & Health Insurance
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 16%, Dividend Yield is 5.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 12%, FCF Yield is 50% | Trading close to highsDist 52W High is -0.4%, Dist 3Y High is -0.4% | |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -18% | ||
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 60%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 60%, CFO LTM is 29 Bil, FCF LTM is 29 Bil | ||
| Low stock price volatilityVol 12M is 27% |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 16%, Dividend Yield is 5.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 12%, FCF Yield is 50% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -18% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 60%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 60%, CFO LTM is 29 Bil, FCF LTM is 29 Bil |
| Low stock price volatilityVol 12M is 27% |
| Trading close to highsDist 52W High is -0.4%, Dist 3Y High is -0.4% |
Market Valuation & Key Metrics
MFC Stock
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MFC Return | -7% | 12% | -1% | 31% | 45% | 10% | 116% |
| Peers Return | -10% | 39% | 13% | 5% | 25% | 6% | 96% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| MFC Win Rate | 50% | 58% | 42% | 58% | 75% | 60% | |
| Peers Win Rate | 58% | 63% | 58% | 60% | 65% | 60% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| MFC Max Drawdown | -56% | -2% | -16% | -0% | -5% | -11% | |
| Peers Max Drawdown | -54% | -2% | -10% | -21% | -1% | -9% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: TRV, MET, AIG, PRU, HIG. See MFC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 11/6/2025 (YTD)
How Low Can It Go
| Event | MFC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -29.9% | -25.4% |
| % Gain to Breakeven | 42.6% | 34.1% |
| Time to Breakeven | 440 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -57.9% | -33.9% |
| % Gain to Breakeven | 137.5% | 51.3% |
| Time to Breakeven | 347 days | 148 days |
| 2018 Correction | ||
| % Loss | -38.2% | -19.8% |
| % Gain to Breakeven | 61.8% | 24.7% |
| Time to Breakeven | 857 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -84.6% | -56.8% |
| % Gain to Breakeven | 550.6% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1480 days |
Compare to TRV, MET, AIG, PRU, HIG
In The Past
Manulife Financial's stock fell -29.9% during the 2022 Inflation Shock from a high on 2/10/2022. A -29.9% loss requires a 42.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Latest Trefis Analyses
Trade Ideas
Select past ideas related to MFC. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 10312025 | BRO | Brown & Brown | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -4.2% | -4.2% | -4.2% |
| 10312025 | CPAY | Corpay | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 6.8% | 6.8% | 0.0% |
| 10312025 | EEFT | Euronet Worldwide | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -4.9% | -4.9% | -4.9% |
| 10312025 | GPN | Global Payments | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -1.8% | -1.8% | -1.8% |
| 10102025 | APO | Apollo Asset Management | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 9.1% | 9.1% | 0.0% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 10312025 | BRO | Brown & Brown | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -4.2% | -4.2% | -4.2% |
| 10312025 | CPAY | Corpay | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 6.8% | 6.8% | 0.0% |
| 10312025 | EEFT | Euronet Worldwide | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -4.9% | -4.9% | -4.9% |
| 10312025 | GPN | Global Payments | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -1.8% | -1.8% | -1.8% |
| 10102025 | APO | Apollo Asset Management | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 9.1% | 9.1% | 0.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Manulife Financial
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 90.74 |
| Mkt Cap | 46.6 |
| Rev LTM | 47,936 |
| Op Inc LTM | - |
| FCF LTM | 7,925 |
| FCF 3Y Avg | 7,231 |
| CFO LTM | 7,986 |
| CFO 3Y Avg | 7,231 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.3% |
| Rev Chg 3Y Avg | 7.3% |
| Rev Chg Q | 1.5% |
| QoQ Delta Rev Chg LTM | 0.4% |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 20.9% |
| CFO/Rev 3Y Avg | 19.6% |
| FCF/Rev LTM | 20.9% |
| FCF/Rev 3Y Avg | 19.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 46.6 |
| P/S | 1.2 |
| P/EBIT | 7.8 |
| P/E | 11.2 |
| P/CFO | 6.1 |
| Total Yield | 11.5% |
| Dividend Yield | 2.6% |
| FCF Yield 3Y Avg | 16.5% |
| D/E | 0.2 |
| Net D/E | -1.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -3.7% |
| 3M Rtn | 4.1% |
| 6M Rtn | 1.7% |
| 12M Rtn | 5.2% |
| 3Y Rtn | 48.4% |
| 1M Excs Rtn | -2.6% |
| 3M Excs Rtn | -3.4% |
| 6M Excs Rtn | -16.9% |
| 12M Excs Rtn | -9.1% |
| 3Y Excs Rtn | -22.8% |
Segment Financials
Revenue by Segment
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Single Segment | 42,309 | ||||
| Annuities and pensions | 270 | 2,935 | 2,950 | 3,123 | |
| Life, health and property and casualty insurance | 2,890 | 36,130 | 29,967 | 32,455 | |
| Investment expenses | -1,980 | -1,787 | -1,748 | ||
| Net investment income (loss) | 11,624 | 35,400 | 33,593 | ||
| Other revenue | 11,132 | 10,591 | 10,399 | ||
| Total | 42,309 | 3,160 | 59,841 | 77,121 | 77,822 |
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 6302025 | 8062025 | 6-K 6/30/2025 |
| 12312024 | 2192025 | 40-F 12/31/2024 |
| 9302024 | 11062024 | 6-K 9/30/2024 |
| 6302024 | 8072024 | 6-K 6/30/2024 |
| 3312024 | 5082024 | 6-K 3/31/2024 |
| 12312023 | 2142024 | 40-F 12/31/2023 |
| 9302023 | 11082023 | 6-K 9/30/2023 |
| 6302023 | 8092023 | 6-K 6/30/2023 |
| 3312023 | 5102023 | 6-K 3/31/2023 |
| 12312022 | 2152023 | 40-F 12/31/2022 |
| 9302022 | 11092022 | 6-K 9/30/2022 |
| 6302022 | 8102022 | 6-K 6/30/2022 |
| 3312022 | 5112022 | 6-K 3/31/2022 |
| 12312021 | 2092022 | 40-F 12/31/2021 |
| 9302021 | 11032021 | 6-K 9/30/2021 |
| 6302021 | 8042021 | 6-K 6/30/2021 |
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Life & Health Insurance Resources |
| Insurance Business America |
| A.M. Best |
| National Underwriter |
| Insurance News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |