Manulife Financial (MFC) Stock Analysis

July 31, 2026

This is a peer-relative look at Manulife Financial (MFC): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Insurance peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Manulife Financial (MFC)
Profile Item	MFC
Name	Manulife Financial Corporation
Country/Region	Canada
GICS Sector	Financials
GICS Industry Group	Insurance
GICS Industry	Insurance
GICS Sub-Industry	Life & Health Insurance
Market Capitalization	74.21 billion USD
Currency	USD
Exchange	NYSE
Listing Date	September 24, 1999
Security Type	Common Stock

Price Performance

Cumulative Growth

MFC

GSPC

Manulife Financial (MFC) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Manulife Financial (MFC) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Manulife Financial (MFC) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Manulife Financial (MFC) metric values compared with Insurance industry-group medians
Metric	Current stock: MFC	Industry group median
Total Return (1Y)	47.92%	19.00%
Total Return (3Y, Annualized)	35.86%	18.51%
Total Return (5Y, Annualized)	23.49%	11.89%

Risk Profile

Drawdown History

MFC

GSPC

Manulife Financial (MFC) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Manulife Financial (MFC) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Manulife Financial (MFC) metric values compared with Insurance industry-group medians
Metric	Current stock: MFC	Industry group median
Volatility (1Y, Annualized)	20.30%	27.81%
Beta (5Y)	0.83	0.52
Max Drawdown (5Y)	-26.99%	-37.87%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. MFC is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Manulife Financial (MFC) metric values compared with Insurance industry-group medians
Metric	Current stock: MFC	Industry group median
Sharpe Ratio (1Y)	2.16	0.49
Sortino Ratio (1Y)	3.13	0.77

Profitability

ROE (TTM)

Manulife Financial (MFC) posts ROE of 12.56%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

MFC

Insurance industry group

12.56%

Group distribution

Max: 38.88%
Q3: 22.63%
Median: 14.77%
MFC: 12.56%
Q1: 9.95%
Min: -6.23%

Largest peers

AON: 46.45%
ALL: 45.22%
PGR: 34.94%
MRSH: 27.57%
TRV: 26.51%
CB: 15.43%
MFC: 12.56%

Where Manulife Financial (MFC) stands on ROE within its Insurance peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Manulife Financial (MFC) keeps 20.04% of revenue as net profit, putting net margin in the upper peer quartile. After operating costs, interest, and taxes, more of each sales dollar reaches shareholders than it does at most industry peers.

MFC

Insurance industry group

20.04%

Group distribution

Max: 38.86%
MFC: 20.04%
Q3: 19.36%
Median: 11.21%
Q1: 5.05%
Min: -2.80%

Largest peers

AON: 22.54%
MFC: 20.04%
CB: 18.53%
ALL: 17.81%
TRV: 16.95%
MRSH: 14.26%
PGR: 12.85%

Where Manulife Financial (MFC) stands on net margin within its Insurance peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

operating margin is set aside for Manulife Financial (MFC) in Insurance: the operating-income line is not a clean boundary for this business model, so net margin, ROE, FFO, or industry-specific measures may be more useful.

Profitability Metrics

Manulife Financial (MFC) metric values compared with Insurance industry-group medians
Metric	Current stock: MFC	Industry group median
ROE (TTM)	12.56%	14.77%
ROA (TTM)	0.59%	2.80%
Net Margin (TTM)	20.04%	11.21%
Operating Margin (TTM)	--	--
Gross Margin (TTM)	--	--

Growth

Revenue Growth

No usable revenue growth is available for Manulife Financial (MFC) this period, so the top-line momentum read is skipped.

Manulife Financial (MFC): Revenue Growth across different time periods, set against Insurance industry-group medians.

EPS Growth

Manulife Financial (MFC) grew earnings per share 8.10%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

Manulife Financial (MFC): EPS Growth across different time periods, set against Insurance industry-group medians.

Growth Metrics

Manulife Financial (MFC) metric values compared with Insurance industry-group medians
Metric	Current stock: MFC	Industry group median
Revenue Growth (YoY)	--	8.15%
Revenue Growth (3Y CAGR)	29.95%	11.40%
EPS Growth (YoY)	8.10%	21.77%
EPS Growth (3Y CAGR)	-5.86%	18.46%

Financial Strength

Current Ratio (MRQ)

current ratio is set aside for Manulife Financial (MFC) in Insurance: these balance sheets are not best read through a current/non-current split, so regulatory, funding, or liquidity-coverage measures usually matter more.

Debt / Equity (MRQ)

debt-to-equity ratio is set aside for Manulife Financial (MFC) in Insurance: leverage is part of the business model itself, so capital adequacy, funding mix, and regulatory measures are usually better risk gauges.

Financial Strength Metrics

Manulife Financial (MFC) metric values compared with Insurance industry-group medians
Metric	Current stock: MFC	Industry group median
Current Ratio (MRQ)	--	--
Debt / Equity (MRQ)	--	--
Net Debt / EBITDA	--	--

Dividends

Dividend Yield (TTM)

Manulife Financial (MFC) has dividend yield of 4.11%, in the upper peer-yield quartile while still inside the industry range. The dividend offers more cash income per dollar of share price than most peers, though payout coverage still matters.

MFC

Insurance industry group

4.11%

Group distribution

Max: 5.19%
MFC: 4.11%
Q3: 2.46%
Median: 1.13%
Q1: 0.00%
Min: 0.00%

Largest peers

MFC: 4.11%
ALL: 1.61%
TRV: 1.23%
CB: 1.10%
AON: 0.82%
PGR: 0.09%
MRSH: 0.00%

Where Manulife Financial (MFC) stands on dividend yield within its Insurance peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Manulife Financial (MFC) has payout ratio of 52.02%, above the industry’s usual payout band. A larger share of earnings is going to dividends, so the cushion narrows if profit weakens.

MFC

Insurance industry group

52.02%

Group distribution

Max: 86.52%
MFC: 52.02%
Q3: 35.84%
Median: 15.02%
Q1: 0.00%
Min: 0.00%

Largest peers

PGR: 69.74%
MFC: 52.02%
MRSH: 43.94%
AON: 16.36%
CB: 13.72%
TRV: 12.23%
ALL: 9.03%

Where Manulife Financial (MFC) stands on payout ratio within its Insurance peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Manulife Financial (MFC) metric values compared with Insurance industry-group medians
Metric	Current stock: MFC	Industry group median
Dividend Yield (TTM)	4.11%	1.13%
Dividend Payout Ratio (TTM)	52.02%	15.02%

Valuation

P/E Ratio (TTM)

Manulife Financial (MFC) trades at P/E ratio of 17.89, in the richer earnings-multiple quartile for its industry. That premium needs support from growth, durable earnings, or stronger business quality.

MFC

Insurance industry group

17.89

Group distribution

Max: 30.58
MFC: 17.89
Q3: 17.84
Median: 13.24
Q1: 9.20
Min: 3.32

Largest peers

MRSH: 22.78
AON: 19.92
MFC: 17.89
CB: 12.47
PGR: 10.65
TRV: 9.90
ALL: 5.62

Where Manulife Financial (MFC) stands on P/E ratio within its Insurance peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Manulife Financial (MFC) trades at 2.32 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.

MFC

Insurance industry group

2.32

Group distribution

Max: 4.61
Q3: 2.41
MFC: 2.32
Median: 1.30
Q1: 0.91
Min: 0.10

Largest peers

AON: 4.39
MRSH: 3.15
MFC: 2.32
CB: 2.26
TRV: 1.57
PGR: 1.32
ALL: 0.95

Where Manulife Financial (MFC) stands on P/S ratio within its Insurance peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Manulife Financial (MFC) trades at 2.14 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

MFC

Insurance industry group

2.14

Group distribution

Max: 4.80
Q3: 2.68
MFC: 2.14
Median: 1.83
Q1: 1.26
Min: -0.14

Largest peers

AON: 7.81
MRSH: 6.01
PGR: 3.49
TRV: 2.33
ALL: 2.19
MFC: 2.14
CB: 1.87

Where Manulife Financial (MFC) stands on P/B ratio within its Insurance peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Manulife Financial (MFC) metric values compared with Insurance industry-group medians
Metric	Current stock: MFC	Industry group median
P/E Ratio (TTM)	17.89	13.24
P/S Ratio (TTM)	2.32	1.30
P/B Ratio (MRQ)	2.14	1.83
Free Cash Flow Yield (TTM)	--	--