# Manulife Financial Corporation (MFC.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Financial Services / Insurance. Price C$61.34, market value C$101.8 billion.

## Valuation
- **P/E (trailing): 16.6×** (5-yr avg 11.6×, 3-yr avg 13.6×). Manulife Financial Corporation trades at 16.6× trailing earnings, well above its own five-year average of 11.6×: investors are paying up relative to the company's past. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 12.2×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 1.51**. A PEG of 1.51 is in the range usually read as fairly priced for its growth.
- **Price / sales: 1.8×**. Each dollar of revenue is priced at 1.8×.
- **Price / book: 2.0×**. The shares trade at 2.0× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: 30.2%** (5-yr avg 43.9%). Free cash flow equals 30.2% of the market value, below its five-year average of 43.9%, so the shares are pricier on cash than usual. Above 5% is generally attractive.
- **Earnings yield: 6.0%**. The inverse of the P/E: 6.0% of the price is earned each year.

## Profitability
- **Net margin: 10.9%**. 10.9% of each dollar of sales reaches the bottom line.
- **Return on equity: 11.3%**. 11.3% on shareholders' equity is solid.
- **Return on assets: 0.7%**. Each dollar of assets produces 0.7% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 16.3%** (3-yr 30.9%/yr, 5-yr -7.2%/yr). Revenue grew 16.3% over the last year, against -7.2% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 8.1%** (5-yr 0.9%/yr). Earnings per share rose 8.1%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 24.5%/yr**. Free cash flow has compounded at 24.5% a year over three years.

## Financial health
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.
- **Cash and short-term investments: C$36.3 billion**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 3.16%** (C$1.85 per share, trailing). Manulife Financial Corporation yields 3.16%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 57%** (11% of free cash flow). 57% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 15**. 15 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 9.5%/yr** (1-yr 10.0%). The dividend has grown 9.5% a year over five years.
- **Shareholder yield: 5.2%**. Dividends plus net buybacks return 5.2% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (15 analysts). 15 analysts cover Manulife Financial Corporation; the consensus is buy, with an average price target of C$65.20 (+6% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 47.6%** (YTD 25.5%, 3-mo 13.6%). The shares are up 47.6% over twelve months including dividends.
- **From 52-week high: -3.5%** (44.9% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 58**. An RSI of 58 is neutral.
- **Beta (1 yr): 0.73** (volatility 19%). Beta of 0.73 against the S&P/TSX Composite: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=MFC.TO · Page: https://foliofundamentals.com/stocks/mfc.to

Not investment advice.