AFL vs. MFC: Aflac vs. Manulife Financial Stock Comparison

June 13, 2026

This page compares Aflac (AFL) with Manulife Financial (MFC) using performance and risk, profitability, financial strength, growth, dividends, and valuation metrics.

Performance

Cumulative Growth

AFL

MFC

Aflac (AFL) vs. Manulife Financial (MFC): 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 Aflac (AFL) and Manulife Financial (MFC). Returns over one year are annualized.

Performance at a Glance

Performance metrics for Aflac (AFL) and Manulife Financial (MFC)
Metric	AFL	MFC
1-Year Return	17.23%	27.85%

Risk

Drawdown

AFL

MFC

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

Risk at a Glance

Risk metrics for Aflac (AFL) and Manulife Financial (MFC)
Metric	AFL	MFC
1-Year Volatility	17.06%	20.87%
Beta	0.60	0.84
3-Month Avg. Volume	2.42M	2.20M

Company Profile

Aflac (AFL) and Manulife Financial (MFC) are both classified in the Life & Health Insurance sub-industry within the broader Insurance industry, placing them in the closest GICS peer bucket.

Company profile comparison for Aflac (AFL) and Manulife Financial (MFC)
Profile Item	AFL	MFC
Name	Aflac Inc.	Manulife Financial Corporation
Country/Region	United States	Canada
GICS Sector	Financials	Financials
GICS Industry Group	Insurance	Insurance
GICS Industry	Insurance	Insurance
GICS Sub-Industry	Life & Health Insurance	Life & Health Insurance
Market Capitalization	59.96 billion USD	67.14 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	March 17, 1980	September 24, 1999
Security Type	Common Stock	Common Stock

Valuation

Price-to-Earnings Ratio (TTM)

Both Aflac (AFL) at 13.46 and Manulife Financial (MFC) at 16.19 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

AFL

Insurance industry group

13.46

Max: 25.24
Q3: 16.46
AFL: 13.46
Median: 12.28
Q1: 8.66
Min: 3.44

MFC

Insurance industry group

16.19

Max: 25.24
Q3: 16.46
MFC: 16.19
Median: 12.28
Q1: 8.66
Min: 3.44

Aflac (AFL) vs. Manulife Financial (MFC): A comparison of their P/E ratio against the Insurance industry group benchmark.

Price-to-Sales Ratio (TTM)

Manulife Financial (MFC) at 2.10 is priced about in line with its industry on P/S ratio, while Aflac (AFL) at 3.31 sits in the pricier quartile — AFL costs more per dollar of sales.

AFL

Insurance industry group

3.31

Max: 3.96
AFL: 3.31
Q3: 2.13
Median: 1.17
Q1: 0.82
Min: 0.13

MFC

Insurance industry group

2.10

Max: 3.96
Q3: 2.13
MFC: 2.10
Median: 1.17
Q1: 0.82
Min: 0.13

Aflac (AFL) vs. Manulife Financial (MFC): A comparison of their P/S ratio against the Insurance industry group benchmark.

Price-to-Book Ratio (MRQ)

On P/B ratio, both Aflac (AFL) at 2.01 and Manulife Financial (MFC) at 1.92 are valued close to their industries’ norm against book — neither stands out from peers.

AFL

Insurance industry group

2.01

Max: 3.70
Q3: 2.21
AFL: 2.01
Median: 1.61
Q1: 1.12
Min: -0.14

MFC

Insurance industry group

1.92

Max: 3.70
Q3: 2.21
MFC: 1.92
Median: 1.61
Q1: 1.12
Min: -0.14

Aflac (AFL) vs. Manulife Financial (MFC): A comparison of their P/B ratio against the Insurance industry group benchmark.

Valuation at a Glance

Valuation metrics for Aflac (AFL) and Manulife Financial (MFC)
Metric	AFL	MFC
Price-to-Earnings Ratio (TTM)	13.46	16.19
Price-to-Sales Ratio (TTM)	3.31	2.10
Price-to-Book Ratio (MRQ)	2.01	1.92
Free Cash Flow Yield	--	--

Profitability

Return on Equity (TTM)

Both Aflac (AFL) at 16.47% and Manulife Financial (MFC) at 12.56% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

AFL

Insurance industry group

16.47%

Max: 38.88%
Q3: 22.34%
AFL: 16.47%
Median: 14.13%
Q1: 9.51%
Min: -6.23%

MFC

Insurance industry group

12.56%

Max: 38.88%
Q3: 22.34%
Median: 14.13%
MFC: 12.56%
Q1: 9.51%
Min: -6.23%

Aflac (AFL) vs. Manulife Financial (MFC): A comparison of their ROE against the Insurance industry group benchmark.

Net Profit Margin (TTM)

For every dollar of sales, both Aflac (AFL) at 25.60% and Manulife Financial (MFC) at 20.04% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

AFL

Insurance industry group

25.60%

Max: 38.86%
AFL: 25.60%
Q3: 19.36%
Median: 11.07%
Q1: 5.09%
Min: -2.80%

MFC

Insurance industry group

20.04%

Max: 38.86%
MFC: 20.04%
Q3: 19.36%
Median: 11.07%
Q1: 5.09%
Min: -2.80%

Aflac (AFL) vs. Manulife Financial (MFC): A comparison of their net margin against the Insurance industry group benchmark.

Operating Profit Margin (TTM)

Neither side reports a meaningful operating margin: for Aflac (AFL) in Insurance and Manulife Financial (MFC) in Insurance, funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability at a Glance

Profitability metrics for Aflac (AFL) and Manulife Financial (MFC)
Metric	AFL	MFC
Return on Equity (TTM)	16.47%	12.56%
Return on Assets (TTM)	3.09%	0.59%
Net Profit Margin (TTM)	25.60%	20.04%
Operating Profit Margin (TTM)	--	--
Gross Profit Margin (TTM)	--	--

Growth

Revenue Growth

Aflac (AFL) vs. Manulife Financial (MFC): A comparison of their Revenue Growth across different time periods.

Revenue Growth at a Glance

Revenue growth metrics for Aflac (AFL) and Manulife Financial (MFC)
Metric	AFL	MFC
1-Year Revenue Growth	-9.27%	--
3-Year Revenue CAGR	-3.23%	29.95%

EPS Growth

Aflac (AFL) vs. Manulife Financial (MFC): A comparison of their EPS Growth across different time periods.

EPS Growth at a Glance

EPS growth metrics for Aflac (AFL) and Manulife Financial (MFC)
Metric	AFL	MFC
1-Year EPS Growth	-29.18%	8.10%
3-Year EPS CAGR	-0.53%	-5.86%

Financial Strength

Current Ratio (MRQ)

current ratio doesn’t apply on either side: Aflac (AFL) in Insurance and Manulife Financial (MFC) in Insurance both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.

Debt-to-Equity Ratio (MRQ)

debt-to-equity ratio is set aside for both: Aflac (AFL) in Insurance and Manulife Financial (MFC) in Insurance run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.

Financial Strength at a Glance

Financial strength metrics for Aflac (AFL) and Manulife Financial (MFC)
Metric	AFL	MFC
Current Ratio (MRQ)	--	--
Debt-to-Equity Ratio (MRQ)	--	--
Net Debt / EBITDA	--	--

Dividends

Dividend Yield (TTM)

Manulife Financial (MFC) at 3.33% delivers top-quartile income for its industry, while Aflac (AFL) at 2.07% pays a more typical yield — both are credible income propositions, MFC the richer one.

AFL

Insurance industry group

2.07%

Max: 5.43%
Q3: 2.64%
AFL: 2.07%
Median: 1.35%
Q1: 0.00%
Min: 0.00%

MFC

Insurance industry group

3.33%

Max: 5.43%
MFC: 3.33%
Q3: 2.64%
Median: 1.35%
Q1: 0.00%
Min: 0.00%

Aflac (AFL) vs. Manulife Financial (MFC): A comparison of their dividend yield against the Insurance industry group benchmark.

Dividend Payout Ratio (TTM)

Aflac (AFL) at 26.86% pays out a band-typical share of earnings, while Manulife Financial (MFC) at 52.02% distributes more than its industry norm — less retained, thinner cover.

AFL

Insurance industry group

26.86%

Max: 86.52%
Q3: 35.43%
AFL: 26.86%
Median: 14.92%
Q1: 0.00%
Min: 0.00%

MFC

Insurance industry group

52.02%

Max: 86.52%
MFC: 52.02%
Q3: 35.43%
Median: 14.92%
Q1: 0.00%
Min: 0.00%

Aflac (AFL) vs. Manulife Financial (MFC): A comparison of their payout ratio against the Insurance industry group benchmark.

Dividends at a Glance

Dividend metrics for Aflac (AFL) and Manulife Financial (MFC)
Metric	AFL	MFC
Dividend Yield (TTM)	2.07%	3.33%
Dividend Payout Ratio (TTM)	26.86%	52.02%