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Manulife Financial MFC

US equityMarket cap rank #229Insurance - Life
$43.48
−$0.12 (-0.28%)
Market open · Sep 24, 1:10 pm ET
After hours $43.60 0.00%
Open$43.52
Prev close$43.60
Day range$43.28 – $43.77
Volume389.0K
Market cap$72.04B
P/E (TTM)16.6
Dividend yield3.00%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026 · reported in CAD

RevenueC$19.71B+27.8% YoY
Net profitC$2.32B+20.5% YoY
Diluted EPSC$1.20+22.4% YoY
Free cash flowC$9.08B+31.6% YoY
Operating cash flowC$9.08B

Revenue, last 8 quarters

C$14.6BSep '24C$6.4BDec '24C$11.7BMar '25C$15.4BJun '25C$17.3BSep '25C$8.6BDec '25C$11.9BMar '26C$19.7BJun '26

Net profit, last 8 quarters

C$2.1BSep '24C$1.7BDec '24C$623.0MMar '25C$1.9BJun '25C$1.9BSep '25C$1.6BDec '25C$1.2BMar '26C$2.3BJun '26

Diluted EPS by quarter

1.00Sep '240.87Dec '240.25Mar '250.98Jun '251.02Sep '250.82Dec '250.65Mar '261.20Jun '26

Free cash flow by quarter

C$7.5BSep '24C$7.1BDec '24C$6.9BMar '25C$6.9BJun '25C$9.7BSep '25C$8.6BDec '25C$3.5BMar '26C$9.1BJun '26

Annual revenue

C$77.1BFY20C$59.8BFY21C$24.2BFY22C$42.9BFY23C$46.2BFY24C$53.0BFY25

Profitability & balance sheet

Net margin10.8%
Return on equity13.9%
Return on assets0.6%
Liabilities / assets95.0%
Total debtC$14.13B
Free cash flow / sales53.8%

Where the revenue comes from

Quarter 2022/FY

By business line

  • AsiaC$14.96B 59.4%
  • Global Wealth and asset management businesses (WAM)C$6.31B 25.1%
  • CanadaC$3.91B 15.5%

By region

  • AsiaC$14.96B 59.4%
  • Global Wealth and asset management (WAM) businessesC$6.31B 25.1%
  • CanadaC$3.91B 15.5%

This company reports in its own local currency, not U.S. dollars. Every figure below is labeled with its real currency, not automatically converted.

Income statement

Line item 2026 Q2
(CAD)
2026 Q1
(CAD)
2025 ANNUAL
(CAD)
2025 Q4
(CAD)
2025 Q3
(CAD)
Total Operating Revenue C$19.71B C$11.86B C$53.01B C$8.60B C$17.31B
Total Premiums Earned C$7.20B C$7.05B C$20.44B -C$52.00M C$6.97B
-Net Premiums Written C$7.20B C$7.05B C$20.44B -C$52.00M C$6.97B
Fee Revenue and Other Income C$2.22B C$1.93B C$8.13B C$2.15B C$2.15B
-Fees and Commissions C$2.04B C$1.97B C$7.93B C$2.09B C$2.05B
-Other Income Expense C$178.00M -C$42.00M C$198.00M C$55.00M C$97.00M
Net Investment Income C$663.00M C$12.00M -C$311.00M -C$502.00M C$396.00M
Net Realized Gain/Loss on Investments C$4.92B -C$1.69B C$5.68B C$1.71B C$3.14B
Interest Income C$4.71B C$4.55B C$19.08B C$5.30B C$4.66B
Total Expenses C$16.94B C$10.40B C$45.92B C$6.70B C$15.08B
Loss Adjustment Expense C$14.87B C$8.35B C$34.55B C$1.16B C$13.07B
Policyholder Interest C$0.00 C$0.00 C$501.00M C$501.00M C$0.00
Fees & Commission Expense C$426.00M C$405.00M C$1.54B C$404.00M C$386.00M
Selling and Admin Expenses C$1.25B C$1.25B C$4.90B C$1.33B C$1.23B
-General & Admin Expense C$1.25B C$1.25B C$4.90B C$1.33B C$1.23B
Net Non-Operating Interest Income (Expense) -C$388.00M -C$389.00M -C$1.53B -C$405.00M -C$388.00M
-Interest Expense Non-Operating C$388.00M C$389.00M C$1.53B C$405.00M C$388.00M
Pretax Profit C$2.77B C$1.47B C$7.09B C$1.91B C$2.23B
Tax C$454.00M C$230.00M C$1.03B C$310.00M C$310.00M
Net Profit C$2.32B C$1.24B C$6.06B C$1.60B C$1.92B
Profit from Continuing Operations C$2.32B C$1.24B C$6.06B C$1.60B C$1.92B
Minority Interests C$137.00M C$43.00M C$278.00M C$33.00M C$130.00M
Net Income to Parent Company C$2.18B C$1.19B C$5.78B C$1.56B C$1.79B
Preferred Stock Dividends C$103.00M C$58.00M C$321.00M C$103.00M C$58.00M
Other Preferred Stock Dividends C$71.00M C$46.00M C$210.00M C$63.00M -C$10.00M
Net Income to Common Stockholders C$2.01B C$1.09B C$5.25B C$1.40B C$1.74B
Basic EPS C$1.20 C$0.65 C$3.08 C$0.83 C$1.03
Diluted EPS C$1.20 C$0.65 C$3.07 C$0.82 C$1.02
Dividend Per Share C$0.49 C$0.49 C$1.76 C$0.44 C$0.44
Policy Acquisition Expense C$2.90B

Balance sheet

Line item 2026 Q2
(CAD)
2026 Q1
(CAD)
2025 ANNUAL
(CAD)
2025 Q4
(CAD)
2025 Q3
(CAD)
Total Assets C$1.09T C$1.03T C$1.03T C$1.03T C$1.03T
Cash and Cash Equivalents C$27.54B C$24.99B C$26.70B C$26.70B C$25.83B
Total Investments C$465.92B C$443.83B C$440.22B C$440.22B C$440.10B
-Net Loan C$117.03B C$113.11B C$111.64B C$111.64B C$110.58B
-Fixed Maturity Investments C$222.87B C$215.17B C$214.11B C$214.11B C$216.48B
-Equity Investments C$48.27B C$40.66B C$40.97B C$40.97B C$39.28B
-Derivative Assets C$10.38B C$9.66B C$9.63B C$9.63B C$9.62B
-Other Invested Assets C$67.37B C$65.23B C$63.87B C$63.87B C$64.15B
Reinsurance Recoverable C$65.06B C$64.82B C$60.88B C$60.88B C$62.71B
Accrued Investment Income C$3.33B C$3.51B C$3.20B C$3.20B C$3.30B
Net PPE C$2.70B C$2.66B C$2.63B C$2.63B C$2.66B
Goodwill and Other Intangible Assets C$12.70B C$12.55B C$12.32B C$12.32B C$10.98B
Separate Account Assets C$497.86B C$455.67B C$461.25B C$461.25B C$462.85B
Other Assets C$13.12B C$12.74B C$12.48B C$12.48B C$12.39B
Total Liabilities C$1.04T C$973.46B C$972.95B C$972.95B C$973.69B
Policy Holders Liabilities C$438.18B C$419.41B C$411.53B C$411.53B C$414.74B
Total Deposits C$24.38B C$23.83B C$24.71B C$24.71B C$23.18B
Derivative Product Liabilities C$13.60B C$13.96B C$14.35B C$14.35B C$12.92B
Short-Term Debt and Capital Lease Obligation C$383.00M C$377.00M C$1.74B C$1.74B
-Current Debt C$383.00M C$377.00M C$1.74B C$1.74B
Long Term Debt and Capital Lease Obligation C$13.74B C$13.07B C$12.93B C$12.93B C$13.43B
-Long Term Debt C$13.74B C$13.07B C$12.93B C$12.93B C$13.43B
Separate Account Liability C$497.86B C$455.67B C$461.25B C$461.25B C$462.85B
Non-Current Deferred Liabilities C$2.24B C$2.00B C$2.02B C$2.02B C$2.05B
Other Liabilities C$48.68B C$45.14B C$44.41B C$44.41B C$44.52B
Total Equity C$54.93B C$53.06B C$52.49B C$52.49B C$52.99B
Stockholders' Equity C$53.26B C$51.50B C$50.96B C$50.96B C$51.44B
Capital Stock C$26.63B C$26.74B C$26.76B C$26.76B C$26.90B
-Common Stock C$19.97B C$20.08B C$20.10B C$20.10B C$20.24B
-Preferred Stock C$6.66B C$6.66B C$6.66B C$6.66B C$6.66B
Additional Paid-In Capital C$188.00M C$189.00M C$199.00M C$199.00M C$200.00M
Retained Earnings C$5.76B C$5.03B C$5.02B C$5.02B C$5.09B
Gains/Losses Not Affecting Retained Earnings C$19.75B C$18.67B C$18.14B C$18.14B C$18.53B
Other Equity Interests C$937.00M C$872.00M C$836.00M C$836.00M C$727.00M
Minority Interests C$1.67B C$1.55B C$1.53B C$1.53B C$1.55B
-Short Term Investments C$10.52B C$10.52B
-Goodwill C$6.88B C$6.88B
-Other Intangible Assets C$5.45B C$5.45B

Cash flow

Line item 2026 Q2
(CAD)
2026 Q1
(CAD)
2025 ANNUAL
(CAD)
2025 Q4
(CAD)
2025 Q3
(CAD)
Operating Cash Flow C$9.08B C$3.54B C$32.11B C$8.61B C$9.73B
Net cash flow from continuing operations C$9.08B C$3.54B C$32.11B C$8.61B C$9.73B
Net Income from Continuing Operations C$2.32B C$1.24B C$6.06B C$1.60B C$1.92B
Gain/Loss from Continuing Operations -C$5.58B C$1.93B -C$6.12B -C$647.00M -C$3.94B
Deferred Tax C$94.00M -C$105.00M -C$6.00M C$20.00M C$66.00M
Change in Working Capital C$12.96B C$1.04B C$34.35B C$8.20B C$12.29B
-Change in Loss and Loss Adjustment Expense Reserves C$7.96B C$2.07B C$18.64B C$2.67B C$7.00B
-Change in Reinsurance Recoverable on Paid and Unpaid Losses C$75.00M -C$417.00M -C$1.23B -C$275.00M -C$213.00M
-Change in Other Working Capital C$4.92B -C$607.00M C$16.94B C$5.81B C$5.50B
Net cash flow from investing -C$8.18B -C$2.99B -C$28.37B -C$8.10B -C$7.81B
Net Cash Flow from Continuing Investing Activities -C$8.18B -C$2.99B -C$28.37B -C$8.10B -C$7.81B
Net Business Purchase and Sale C$0.00 -C$77.00M -C$1.28B -C$1.28B C$0.00
Net Amount of Loans Acquired/Repaid -C$36.07B -C$35.05B -C$135.47B -C$35.39B -C$33.33B
Net Other Investing Changes C$27.89B C$32.13B C$108.38B C$28.56B C$25.52B
Financing Cash Flow C$1.30B -C$2.62B -C$2.05B C$453.00M -C$22.00M
Net Cash Flow from Continuing Financing Activities C$1.30B -C$2.62B -C$2.05B C$453.00M -C$22.00M
Increase/Decrease in Deposit C$1.11B C$114.00M -C$473.00M -C$127.00M C$211.00M
Net Issuance Payments of Debt C$1.14B -C$683.00M C$1.45B C$531.00M C$431.00M
Net Common Stock Issuance -C$580.00M -C$302.00M -C$2.36B -C$629.00M -C$604.00M
Cash Dividends Paid -C$911.00M -C$862.00M -C$3.31B -C$843.00M -C$804.00M
Net Other Financing Charges C$536.00M -C$889.00M C$2.64B C$1.52B C$744.00M
Ending Cash Balance C$27.54B C$24.99B C$25.82B C$25.82B C$25.22B
Net Change in Cash C$2.20B -C$2.07B C$1.69B C$956.00M C$1.90B
Beginning Cash Balance C$24.99B C$26.70B C$24.94B C$25.22B C$23.77B
Effect of Exchange Rate Changes C$350.00M C$359.00M -C$816.00M -C$354.00M C$389.00M
Free Cash Flow C$9.08B C$3.54B C$32.11B C$8.61B C$9.73B
Other Non-Cash Items -C$9.00M C$0.00 C$0.00
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