Manulife Financial Corp. (MFC) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 40-F for FY2025, filed Feb 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MFC SEC filings page.
Manulife Financial Corp. (MFC) reported $5.9B in revenue for fiscal year 2025, up 12.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Manulife Financial Corp. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Manulife Financial Corp. passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), the one computable operating efficiency signal (asset turnover improving) passes.
Key Financial Metrics
Earnings & Revenue
Manulife Financial Corp. generated $5.9B in revenue in fiscal year 2025. This represents an increase of 12.5% from the prior year.
Manulife Financial Corp. reported $4.1B in net income in fiscal year 2025. This represents an increase of 8.7% from the prior year.
Manulife Financial Corp. earned $2.24 per diluted share (EPS) in fiscal year 2025. This represents an increase of 13.5% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Manulife Financial Corp. held $19.5B in cash against $5.6B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Manulife Financial Corp.'s net profit margin was 68.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.4 percentage points from the prior year.
Manulife Financial Corp.'s ROE was 11.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.6 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
MFC Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.9B+12.5% | $5.3B+3.1% | $5.1B+11.8% | $4.6B-90.6% | $48.4B-21.8% | $61.9B+0.8% | $61.4B+114.9% | $28.6B-38.7% | $46.6B+17.3% | $39.7B |
| Interest Expense | $1.1B-4.4% | $1.2B-0.8% | $1.2B+51.6% | $776.7M-1.8% | $791.3M-14.6% | $926.1M-9.0% | $1.0B+8.9% | $934.5M+2.7% | $910.0M+20.6% | $754.5M |
| Income Tax | $754.1M-10.4% | $841.7M+31.5% | $640.1Mn/m | -$856.5M-190.2% | $949.4M+1.3% | $937.0M+69.2% | $553.9M+19.6% | $463.2M+142.6% | $190.9M+30.8% | $146.0M |
| Net Income | $4.1B+8.7% | $3.7B-3.3% | $3.9Bn/m | -$1.4B-125.7% | $5.6B+20.8% | $4.6B+6.5% | $4.3B+22.8% | $3.5B+109.3% | $1.7B-22.9% | $2.2B |
| EPS (Basic) | $2.25+13.5% | $1.98-0.3% | $1.98n/m | -$0.85-130.6% | $2.78+20.5% | $2.31+7.9% | $2.14+24.6% | $1.72+119.1% | $0.78-26.0% | $1.06 |
| EPS (Diluted) | $2.24+13.5% | $1.97-0.2% | $1.98n/m | -$0.85-130.7% | $2.77+20.6% | $2.30+7.5% | $2.14+25.1% | $1.71+118.1% | $0.78-25.5% | $1.05 |
| Diluted Shares (Avg) | 1.71B-4.3% | 1.78B-2.9% | 1.84B-3.9% | 1.91B-1.7% | 1.95B+0.2% | 1.94B-1.0% | 1.96B-1.3% | 1.99B+0.1% | 1.99B+0.5% | 1.98B |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA.
MFC Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $747.8B+10.0% | $679.7B+2.5% | $663.2B+7.6% | $616.1B-14.2% | $718.2B+4.0% | $690.3B+10.6% | $624.2B+13.5% | $549.9B-5.7% | $582.8B+8.6% | $536.8B |
| Cash & Equivalents | $19.5B+8.7% | $17.9B+16.3% | $15.4B+8.8% | $14.2B-20.0% | $17.7B-13.8% | $20.5B+31.0% | $15.7B+31.8% | $11.9B-6.8% | $12.8B+13.0% | $11.3B |
| Goodwill | $5.0B+15.1% | $4.4B-2.8% | $4.5B+0.9% | $4.4B+0.5% | $4.4B-1.3% | $4.5B+1.1% | $4.4B+3.1% | $4.3B-5.8% | $4.6B+4.1% | $4.4B |
| Total Liabilities | $709.6B+10.4% | $643.0B+2.7% | $626.3B+7.9% | $580.4B-13.6% | $672.1B+3.6% | $648.7B+10.8% | $585.6B+13.6% | $515.3B-6.2% | $549.1B+8.8% | $504.9B |
| Long-Term Debt | $5.6B+21.7% | $4.6B+0.1% | $4.6B-0.2% | $4.6B+20.6% | $3.8B-20.9% | $4.8B+37.9% | $3.5B+0.3% | $3.5B-8.5% | $3.8B-9.9% | $4.2B |
| Total Equity | $36.6B+3.3% | $35.4B-0.7% | $35.6B+2.9% | $34.6B-24.2% | $45.7B+11.4% | $41.0B+8.3% | $37.9B+12.5% | $33.7B+2.8% | $32.8B+5.2% | $31.2B |
| Retained Earnings | $3.7B+10.7% | $3.3B-9.4% | $3.7B+25.1% | $2.9B-84.1% | $18.4B+24.1% | $14.8B+23.9% | $11.9B+28.3% | $9.3B+15.6% | $8.1B+10.8% | $7.3B |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities.
MFC Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $23.4B+27.3% | $18.4B+18.9% | $15.5B+25.9% | $12.3B-32.2% | $18.1B+15.3% | $15.7B-0.8% | $15.8B+12.7% | $14.1B-1.1% | $14.2B+12.1% | $12.7B |
| Investing Cash Flow | -$20.7Bn/m | -$12.8Bn/m | -$10.4Bn/m | -$13.6Bn/m | -$19.1Bn/m | -$11.1Bn/m | -$10.7Bn/m | -$13.9Bn/m | -$13.0Bn/m | -$16.9B |
| Financing Cash Flow | -$1.5Bn/m | -$2.9Bn/m | -$3.8Bn/m | -$1.6Bn/m | -$1.6B-408.2% | $519.9Mn/m | -$1.6Bn/m | -$530.6M-4844.3% | $11.2M-99.5% | $2.5B |
| Dividends Paid | $2.4B+9.9% | $2.2Bn/m | $0-100.0% | $2.1B+5.3% | $2.0B+6.6% | $1.8B+70.1% | $1.1B-17.7% | $1.3B-7.8% | $1.4B+19.9% | $1.2B |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Share Buybacks.
MFC Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 68.5%-2.4pp | 71.0%-4.7pp | 75.6%+106.9pp | -31.3%-42.7pp | 11.5%+4.1pp | 7.4%+0.4pp | 7.0%-5.3pp | 12.3%+8.7pp | 3.6%-1.9pp | 5.5% |
| Return on Equity | 11.1%+0.6pp | 10.6%-0.3pp | 10.8%+15.0pp | -4.1%-16.3pp | 12.2%+0.9pp | 11.2%-0.2pp | 11.4%+1.0pp | 10.4%+5.3pp | 5.1%-1.9pp | 7.0% |
| Return on Assets | 0.5%0.0pp | 0.5%0.0pp | 0.6%+0.8pp | -0.2%-1.0pp | 0.8%+0.1pp | 0.7%0.0pp | 0.7%0.0pp | 0.6%+0.4pp | 0.3%-0.1pp | 0.4% |
| Debt-to-Equity | 0.150.0x | 0.130.0x | 0.130.0x | 0.130.0x | 0.080.0x | 0.120.0x | 0.090.0x | 0.100.0x | 0.120.0x | 0.14 |
| Liabilities-to-Equity | 19.41+1.2x | 18.16+0.6x | 17.58+0.8x | 16.76+2.1x | 14.70-1.1x | 15.81+0.4x | 15.45+0.1x | 15.30-1.5x | 16.76+0.6x | 16.20 |
| Asset Turnover | 0.010.0x | 0.010.0x | 0.010.0x | 0.01-0.1x | 0.070.0x | 0.090.0x | 0.100.0x | 0.050.0x | 0.080.0x | 0.07 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Manulife Financial Corp. MFC | FY2025 | $5.9B | $4.1B | 68.5% | $73.2B | — |
| MetLife, Inc. MET | FY2025 | $77.1B | $3.4B | 4.4% | $62.8B | 27/100 |
| Aflac Inc. AFL | FY2025 | $17.2B | $3.6B | 21.2% | $60.4B | 71/100 |
| Prudential Financial, Inc. PRU | FY2025 | $60.8B | $3.6B | 5.9% | $39.7B | 16/100 |
| Unum Group UNM | FY2025 | $13.1B | $738.5M | 5.7% | $14.3B | 43/100 |
| Globe Life Inc. GL | FY2025 | $6.0B | $1.2B | 19.4% | $11.9B | 65/100 |
Where Manulife Financial Corp. Ranks
Frequently Asked Questions
What is Manulife Financial Corp.'s annual revenue?
Manulife Financial Corp. (MFC) reported $5.9B in total revenue for fiscal year 2025. This represents a 12.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Manulife Financial Corp.'s revenue growing?
Manulife Financial Corp. (MFC) revenue grew by 12.5% year-over-year, from $5.3B to $5.9B in fiscal year 2025.
Is Manulife Financial Corp. profitable?
Yes, Manulife Financial Corp. (MFC) reported a net income of $4.1B in fiscal year 2025, with a net profit margin of 68.5%.
How much debt does Manulife Financial Corp. have?
As of fiscal year 2025, Manulife Financial Corp. (MFC) had $19.5B in cash and equivalents against $5.6B in long-term debt.
What is Manulife Financial Corp.'s net profit margin?
Manulife Financial Corp. (MFC) had a net profit margin of 68.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Manulife Financial Corp.'s return on equity (ROE)?
Manulife Financial Corp. (MFC) has a return on equity of 11.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Manulife Financial Corp.'s operating cash flow?
Manulife Financial Corp. (MFC) generated $23.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Manulife Financial Corp.'s total assets?
Manulife Financial Corp. (MFC) had $747.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Manulife Financial Corp.'s debt-to-equity ratio?
Manulife Financial Corp. (MFC) had a debt-to-equity ratio of 0.15 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is Manulife Financial Corp.'s liabilities-to-equity ratio?
Manulife Financial Corp. (MFC) had a liabilities-to-equity ratio of 19.41 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is Manulife Financial Corp.'s return on assets (ROA)?
Manulife Financial Corp. (MFC) had a return on assets of 0.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Manulife Financial Corp.'s P/E ratio?
Manulife Financial Corp. (MFC) trades at 18.0x earnings, its market capitalization divided by $4.1B net income, FY2025. The market capitalization is $73.2B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Manulife Financial Corp.'s price-to-sales ratio?
Manulife Financial Corp. (MFC) trades at 12.4x sales, its market capitalization divided by $5.9B revenue, FY2025. The market capitalization is $73.2B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Manulife Financial Corp.'s Piotroski F-Score?
Manulife Financial Corp. (MFC) has a Piotroski F-Score of 4 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.