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Manulife Financial (MFC)

Market Price (10/16/2025): $32.15 | Market Cap: $55.0 Bil
Sector: Financials | Industry: Life & Health Insurance

Manulife Financial (MFC)

Market Price (10/16/2025): $32.15
Market Cap: $55.0 Bil
Sector: Financials
Industry: Life & Health Insurance

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, Dividend Yield is 5.9%, 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 52%		 Trading close to highs
Dist 52W High is -1.4%, Dist 3Y High is -1.4%		 
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -19%		  
2 Attractive cash flow generation
CFO/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		  
3 Low stock price volatility
Vol 12M is 27%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, Dividend Yield is 5.9%, 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 52%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -19%
2 Attractive cash flow generation
CFO/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
3 Low stock price volatility
Vol 12M is 27%
4 Trading close to highs
Dist 52W High is -1.4%, Dist 3Y High is -1.4%

Market Valuation & Key Metrics

MFCS&P 500
REVENUE GROWTHFAIR
Rev LTM ($ Bil)47.5
Rev Chg Q21.7%6.2%
Rev Chg LTM10.0%5.2%
Rev Chg 3Y Avg1.5%5.4%
PROFITABILITYFAIR
Op Inc LTM ($ Bil)�
CFO LTM ($ Bil)28.6
CFO/Rev LTM60.3%20.3%
Net Inc LTM ($ Bil)6.1
Net Inc Mgn12.8%12.7%
VALUATIONLOW
P/S1.23.3
P/CFO1.915.9
P/FCF1.920.8
P/E9.124.0

MFC Stock

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
MFC Return-7%12%-1%31%45%7%106%
Peers Return-8%32%17%5%29%11%113%
S&P 500 Return16%27%-19%24%23%13%103%

Monthly Win Rates [3]
MFC Win Rate50%58%42%58%75%56% 
Peers Win Rate57%58%63%62%65%67% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
MFC Max Drawdown-56%-2%-16%-0%-5%-11% 
Peers Max Drawdown-49%-3%-7%-22%-1%-6% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: TRV, ALL, MET, AIG, 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 10/15/2025 (YTD)

Downturns Compared

Unique KeyEventMFCS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-29.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven42.6%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven440 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-57.9%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven137.5%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven347 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-38.2%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven61.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven857 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-84.6%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven550.6%131.3%
2008 Global Financial CrisisTime to BreakevenTime to BreakevenNot Fully Recovered days1480 days


How Low Can It Go?

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.

Better Bets than Manulife Financial (MFC)

 MFCBetter Performance than MFC
MetricValueIndustry (Life & Health Insurance)
Rev Chg LTM10.0%JXN (26.8%), BHF (61.5%), TRUP (13.1%), ABL (69.6%), ITIC (15.3%)
Rev Chg 3Y Avg1.5%MET (6.0%), UNM (2.9%), GL (4.5%), PRI (4.6%), AXS (4.7%)
CFO/Rev LTM60.3%JXN (103.0%), FG (120.0%)
FCF/Rev LTM60.3%JXN (103.0%), FG (119.6%)
Total Yield16.9%BHF (24.0%)
 MFCBetter Performance than MFC
MetricValueAll Other Sectors
Rev Chg LTM10.0%NVDA (71.6%), MSFT (14.9%), GOOGL (13.1%), AMZN (10.9%), META (19.4%)
Rev Chg 3Y Avg1.5%NVDA (92.0%), MSFT (12.5%), AAPL (1.8%), GOOGL (10.2%), AMZN (11.3%)
CFO/Rev LTM60.3%PLD (60.4%), SPG (66.6%), O (67.9%), PSA (66.2%), FNV (88.1%)
FCF/Rev LTM60.3%PLD (60.4%), O (67.9%), VICI (62.4%), RPRX (104.4%), WPC (76.3%)
Total Yield16.9%BABA (38.0%), TM (2152.5%), VZ (17.3%), CMCSA (18.4%), CNQ (20.1%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Fundamental Metrics: ...  
2Manulife Financial (MFC) Stock Has 52% Chance Of Rise In The Next One Month  
3Dates Cached For MFC  
4[5/12/2022] Manulife Financial (MFC) Shares Moved -10% Today  (Extremely rare event)  
5Manulife Financial Stock Return ComparisonReturn 
6Manulife Financial: Highest And Lowest Correlated Assets Correlation 
7Manulife Financial To S&P 500 RatioRatios 
8Manulife Financial Trading ActivityTechnicals 
9Manulife Financial Market MomentumTechnicals 
10Manulife Financial Excess Market Return vs S&P 500  
11ARTICLES  
12Manulife Financial Stock Has A 40% Upside October 23rd, 2020
13Is Manulife Financial Stock Oversold At $14? June 12th, 2020
14Manulife’s Revenues Very Likely Jumped 2x In 2019, But There’s More Here Than Meets The Eye January 9th, 2020
15Is Manulife’s Volatile Investment Income A Cause For Concern? August 27th, 2019
16Can Prudential’s International Premiums Contribute 30% To Its Top Line By 2021? August 22nd, 2019
Title
0DASHBOARDS
1Manulife Financial Stock Has A 40% Upside
2Is Manulife Financial Stock Oversold At $14?
3Manulife’s Revenues Very Likely Jumped 2x In 2019, But There’s More Here Than Meets The Eye
4Is Manulife’s Volatile Investment Income A Cause For Concern?
5Can Prudential’s International Premiums Contribute 30% To Its Top Line By 2021?
6ARTICLES
7Fundamental Metrics: ...
8Manulife Financial (MFC) Stock Has 52% Chance Of Rise In The Next One Month
9Dates Cached For MFC
10[5/12/2022] Manulife Financial (MFC) Shares Moved -10% Today  (Extremely rare event)
11Manulife Financial Stock Return Comparison
12Manulife Financial: Highest And Lowest Correlated Assets 
13Manulife Financial To S&P 500 Ratio
14Manulife Financial Trading Activity
15Manulife Financial Market Momentum
16Manulife Financial Excess Market Return vs S&P 500

Trade Ideas

Select past ideas related to MFC. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
HLNE_9302025_Dip_Buyer_FCFYield09302025HLNEHamilton LaneDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-10.8%-10.8%-12.3%
CNS_9302025_Dip_Buyer_ValueBuy09302025CNSCohen & SteersDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		1.4%1.4%-1.6%
JKHY_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025JKHYJack Henry & AssociatesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		3.4%3.4%-2.1%
FDS_9192025_Monopoly_xInd_xCD_Getting_Cheaper09192025FDSFactSet Research SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-1.8%-1.8%-4.9%
IBKR_9052025_Quality_Momentum_RoomToRun_10%09052025IBKRInteractive BrokersQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		16.0%16.0%0.0%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
HLNE_9302025_Dip_Buyer_FCFYield09302025HLNEHamilton LaneDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-10.8%-10.8%-12.3%
CNS_9302025_Dip_Buyer_ValueBuy09302025CNSCohen & SteersDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		1.4%1.4%-1.6%
JKHY_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025JKHYJack Henry & AssociatesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		3.4%3.4%-2.1%
FDS_9192025_Monopoly_xInd_xCD_Getting_Cheaper09192025FDSFactSet Research SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-1.8%-1.8%-4.9%
IBKR_9052025_Quality_Momentum_RoomToRun_10%09052025IBKRInteractive BrokersQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		16.0%16.0%0.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1NVTSNavitas Semiconductor95.9%324.6%
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4GLUEMonte Rosa Therapeutics44.1%60.1%
5FLNCFluence Energy43.3%35.0%
6SMRNuScale Power39.9%198.0%
7UUUUEnergy Fuels38.8%387.1%
8ASPIASP Isotopes38.5%178.6%
9MVSTMicrovast38.3%201.9%
10TNGXTango Therapeutics37.8%208.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1BNTBrookfield Wealth Solutions-33.6%18.5%
2BNBrookfield-33.4%18.9%
3VGVenture Global-29.9% 
4SOCSable Offshore-29.1%-38.3%
5HELEHelen Of Troy-28.5%-67.0%
6ALABAstera Labs-26.4%21.9%
7AIVApartment Investment & Management-26.1%-33.8%
8BBBYBed Bath & Beyond-25.7% 
9USNAUsana Health Sciences-22.6%-42.9%
10FWRDForward Air-18.0%-38.0%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1WOLFWolfspeed1213.0%386.9%
2QUREuniQure334.2%255.8%
3LACLithium Americas193.2%217.8%
4FLNCFluence Energy185.9%35.0%
5RGTIRigetti Computing181.7%269.2%
6SESSES AI176.6%61.6%
7UAMYUnited States Antimony158.6%677.4%
8NVTSNavitas Semiconductor157.4%324.6%
9ASTSAST SpaceMobile136.7%353.5%
10QBTSD-Wave Quantum135.9%433.1%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1ANGXAngel Studios-46.4% 
2SOCSable Offshore-37.0%-38.3%
3VGVenture Global-35.1% 
4USNAUsana Health Sciences-32.9%-42.9%
5FLYFirefly Aerospace-32.5% 
6ALABAstera Labs-32.4%21.9%
7FWRDForward Air-31.7%-38.0%
8LDIloanDepot-29.5%53.4%
9AIVApartment Investment & Management-28.4%-33.8%
10PGYPagaya Technologies-28.1%222.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1NVTSNavitas Semiconductor95.9%324.6%
2BITFBitfarms61.7%334.2%
3UAMYUnited States Antimony44.5%677.4%
4GLUEMonte Rosa Therapeutics44.1%60.1%
5FLNCFluence Energy43.3%35.0%
6SMRNuScale Power39.9%198.0%
7UUUUEnergy Fuels38.8%387.1%
8ASPIASP Isotopes38.5%178.6%
9MVSTMicrovast38.3%201.9%
10TNGXTango Therapeutics37.8%208.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1BNTBrookfield Wealth Solutions-33.6%18.5%
2BNBrookfield-33.4%18.9%
3VGVenture Global-29.9% 
4SOCSable Offshore-29.1%-38.3%
5HELEHelen Of Troy-28.5%-67.0%
6ALABAstera Labs-26.4%21.9%
7AIVApartment Investment & Management-26.1%-33.8%
8BBBYBed Bath & Beyond-25.7% 
9USNAUsana Health Sciences-22.6%-42.9%
10FWRDForward Air-18.0%-38.0%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Manulife Financial

Financials

MFCTRVALLMETAIGHIGMedian
NameManulife.Traveler.Allstate MetLife American.Hartford. 
Mkt Price32.13269.45200.4281.6281.26128.66105.14
Mkt Cap54.960.953.054.846.536.553.9
Rev LTM47,46247,84366,21472,07827,74327,25947,652
Op Inc LTM-------
FCF LTM28,6089,6338,53815,2293,1595,6909,086
FCF 3Y Avg23,4248,1016,41713,7934,7964,8167,259
CFO LTM28,6089,6338,74315,2293,1595,8289,188
CFO 3Y Avg23,4248,1016,67113,7934,7965,0037,386

Growth & Margins

MFCTRVALLMETAIGHIGMedian
NameManulife.Traveler.Allstate MetLife American.Hartford. 
Rev Chg LTM10.0%8.5%9.8%5.9%2.2%7.8%8.2%
Rev Chg 3Y Avg1.5%10.2%9.7%6.0%-8.5%8.1%7.1%
Rev Chg Q21.7%7.4%5.7%-1.8%7.2%7.8%7.3%
QoQ Delta Rev Chg LTM6.1%1.8%1.4%-0.4%1.7%1.9%1.8%
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM60.3%20.1%13.2%21.1%11.4%21.4%20.6%
CFO/Rev 3Y Avg54.5%18.5%10.9%19.7%19.7%19.6%19.6%
FCF/Rev LTM60.3%20.1%12.9%21.1%11.4%20.9%20.5%
FCF/Rev 3Y Avg54.5%18.5%10.5%19.7%19.7%18.9%19.3%

Valuation

MFCTRVALLMETAIGHIGMedian
NameManulife.Traveler.Allstate MetLife American.Hartford. 
Mkt Cap54.960.953.054.846.536.553.9
P/S1.21.30.80.81.71.31.2
P/EBIT6.18.86.98.19.18.68.3
P/E9.111.69.112.814.611.211.4
P/CFO1.96.36.13.614.76.36.2
Total Yield16.9%9.4%12.9%10.6%9.0%10.5%10.5%
Dividend Yield5.9%0.8%1.9%2.8%2.1%1.6%2.0%
FCF Yield 3Y Avg51.2%16.6%15.5%28.1%10.3%16.3%16.4%
D/E0.20.10.20.40.20.10.2
Net D/E-0.2-1.4-0.0-1.7-0.6-0.5-0.5

Returns

MFCTRVALLMETAIGHIGMedian
NameManulife.Traveler.Allstate MetLife American.Hartford. 
1M Rtn-0.6%-2.5%1.8%1.4%6.1%-2.1%0.4%
3M Rtn5.5%7.3%3.0%7.4%0.9%7.1%6.3%
6M Rtn13.5%7.6%4.2%15.6%1.5%10.7%9.1%
12M Rtn9.1%13.7%5.8%-2.0%7.8%10.3%8.5%
3Y Rtn135.2%74.8%62.6%37.5%71.3%110.9%73.1%
1M Excs Rtn1.1%-1.9%1.1%2.7%5.5%-1.7%1.1%
3M Excs Rtn-2.0%-2.6%-1.6%0.4%-5.0%-0.3%-1.8%
6M Excs Rtn-11.7%-14.8%-19.6%-9.7%-23.3%-12.9%-13.9%
12M Excs Rtn-5.8%1.1%-6.2%-16.5%-7.2%-3.3%-6.0%
3Y Excs Rtn48.4%-3.4%-20.8%-43.4%-5.4%29.3%-4.4%

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/6/20255/7/20252/19/202511/6/20248/7/20245/8/20242/14/202411/8/20238/9/20235/10/20232/15/202311/9/2022
Key Financials Quarterly            
Total Revenue15,41811,6835,75614,60512,67012,5518,8869,05911,88912,4753,5659,346
Net Income1,8745571,6851,9361,0939171,7621,2001,1451,356890390
EPS0.990.250.871.010.530.450.860.530.500.730.420.23
Key Financials TTM            
Total Revenue TTM47,46244,71445,58248,71243,16642,38542,30936,98837,27529,85123,61741,153
Net Income TTM6,0525,2715,6315,7084,9725,0245,4634,5913,781481-2,100-971
Growth Rates Quarterly            
Total Revenue Growth21.7%-6.9%-35.2%61.2%6.6%0.6%149.3%-3.1%166.3%99.9%-83.1%-39.8%
Net Income Growth71.5%-39.3%-4.4%61.3%-4.5%-32.4%98.0%207.7%153.1%210.7%-55.9%-69.2%
Margins Quarterly            
Net Income Margin12.2%4.8%29.3%13.3%8.6%7.3%19.8%13.2%9.6%10.9%25.0%4.2%
Cash & Debt            
Total Cash23,77325,36225,78922,88422,09821,48120,33822,13721,01818,77519,15320,951
Total Debt13,27714,17714,16113,22214,01813,42912,73812,92612,75213,54512,35613,438
Net Debt / (Cash)-10,496-11,185-11,628-9,662-8,080-8,052-7,600-9,211-8,266-5,230-6,797-7,513
Cash Flows Quarterly            
FCF from Operations7,2756,6887,1287,5177,2734,5766,1685,5065,7942,9554,8844,509
Cash Flows TTM            
FCF from Operations TTM28,60828,60626,49425,53423,52322,04420,42319,13918,14217,06416,62818,481
Returns to Shareholders Quarterly            
Dividends856802799766817777759720770723717679
Share Repurchases6535071,431986652203333421443398552527
Return on Invested Capital (ROIC) Quarterly            
ROIC22.1%6.8%19.4%23.3%12.3%10.9%20.7%13.7%14.0%14.8%7.7%8.1%
Return on Invested Capital (ROIC) TTM            
ROIC TTM18.1%15.1%16.7%16.9%14.0%14.5%16.1%13.8%11.8%0.6%-5.5%-4.1%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Single Segment42,309    
Annuities and pensions 2702,9352,9503,123
Life, health and property and casualty insurance 2,89036,13029,96732,455
Investment expenses  -1,980-1,787-1,748
Net investment income (loss)  11,62435,40033,593
Other revenue  11,13210,59110,399
Total42,3093,16059,84177,12177,822


Price Behavior

MFC Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta2.251.471.561.061.060.99
Up Beta2.671.061.290.820.910.93
Down Beta0.400.210.831.231.251.10
Up Capture177%158%139%111%103%105%
Bmk +ve Days13233574144420
Stock +ve Days13253671135411
Down Capture325%236%241%139%107%99%
Bmk -ve Days8192952107330
Stock -ve Days8172753113332

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date9302025
Short Interest: Shares Quantity4,790,378
Short Interest: % Change Since 9152025-25.7%
Average Daily Volume1,788,406
Days-to-Cover Short Interest2.68
Basic Shares Quantity1,710,000,000
Short % of Basic Shares0.3%

Returns Analyses

SEC Filings

Expand for More

Report DateFiling DateFiling
630202580620256-K 6/30/2025
12312024219202540-F 12/31/2024
9302024110620246-K 9/30/2024
630202480720246-K 6/30/2024
331202450820246-K 3/31/2024
12312023214202440-F 12/31/2023
9302023110820236-K 9/30/2023
630202380920236-K 6/30/2023
331202351020236-K 3/31/2023
12312022215202340-F 12/31/2022
9302022110920226-K 9/30/2022
630202281020226-K 6/30/2022
331202251120226-K 3/31/2022
12312021209202240-F 12/31/2021
9302021110320216-K 9/30/2021
630202180420216-K 6/30/2021

Insider Activity

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Industry Resources

External Quote Links


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