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MFC vs. PGR: Manulife Financial vs. Progressive Stock Comparison

How do Manulife Financial (MFC) and Progressive (PGR) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Manulife Financial (MFC) and Progressive (PGR) both belong to the Insurance industry, though MFC is classified under Life & Health Insurance while PGR falls under Property & Casualty Insurance.

Company profile comparison for Manulife Financial (MFC) and Progressive (PGR)
Profile ItemMFCPGR
NameManulife Financial CorporationProgressive Corporation
Country/RegionCanadaUnited States
GICS SectorFinancialsFinancials
GICS Industry GroupInsuranceInsurance
GICS IndustryInsuranceInsurance
GICS Sub-IndustryLife & Health InsuranceProperty & Casualty Insurance
Market Capitalization67.48 billion USD127.18 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateSeptember 24, 1999March 17, 1980
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

MFC
PGR
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Manulife Financial (MFC) vs. Progressive (PGR): 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 Progressive (PGR). Returns over one year are annualized.

Performance Metrics

Price performance metrics for Manulife Financial (MFC) and Progressive (PGR)
MetricMFCPGR
Total Return (1Y)29.21%-12.83%

Risk Profile

Drawdown History

MFC
PGR
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Manulife Financial (MFC) vs. Progressive (PGR): 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 Metrics

Risk profile metrics for Manulife Financial (MFC) and Progressive (PGR)
MetricMFCPGR
Volatility (1Y, Annualized)20.56%23.25%
Beta (5Y)0.840.26
Avg. Volume (3M)2.17M3.13M

Risk-Adjusted Performance

Risk-Return Positioning

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MFC and PGR are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Profitability

ROE (TTM)

Progressive (PGR) at 37.90% sits in the top ROE quartile, while Manulife Financial (MFC) at 12.56% is closer to the peer norm — stronger capital efficiency for PGR.

MFC

Insurance industry group

12.56%

Max
38.88%
Q3
22.53%
Median
14.77%
MFC
12.56%
Q1
9.91%
Min
-6.23%

PGR

Insurance industry group

37.90%

Max
38.88%
PGR
37.90%
Q3
22.53%
Median
14.77%
Q1
9.91%
Min
-6.23%
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Manulife Financial (MFC) vs. Progressive (PGR): A comparison of their ROE against the Insurance industry group benchmark.

Net Margin (TTM)

Manulife Financial (MFC) at 20.04% retains a top-quartile share of revenue as profit, ahead of Progressive (PGR) at 12.93%, which keeps about the industry-typical share.

MFC

Insurance industry group

20.04%

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

PGR

Insurance industry group

12.93%

Max
38.86%
Q3
19.36%
PGR
12.93%
Median
11.07%
Q1
5.09%
Min
-2.80%
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Manulife Financial (MFC) vs. Progressive (PGR): A comparison of their net margin against the Insurance industry group benchmark.

Operating Margin (TTM)

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

Profitability Metrics

Profitability metrics for Manulife Financial (MFC) and Progressive (PGR)
MetricMFCPGR
ROE (TTM)12.56%37.90%
ROA (TTM)0.59%7.94%
Net Margin (TTM)20.04%12.93%
Operating Margin (TTM)----
Gross Margin (TTM)----

Growth

Revenue Growth

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

Revenue Growth Metrics

Revenue growth metrics for Manulife Financial (MFC) and Progressive (PGR)
MetricMFCPGR
Revenue Growth (YoY)--16.32%
Revenue Growth (3Y CAGR)29.95%20.90%

EPS Growth

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

EPS Growth Metrics

EPS growth metrics for Manulife Financial (MFC) and Progressive (PGR)
MetricMFCPGR
EPS Growth (YoY)8.10%33.54%
EPS Growth (3Y CAGR)-5.86%153.53%

Financial Strength

Current Ratio (MRQ)

current ratio doesn’t apply on either side: Manulife Financial (MFC) in Insurance and Progressive (PGR) 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 / Equity (MRQ)

debt-to-equity ratio is set aside for both: Manulife Financial (MFC) in Insurance and Progressive (PGR) 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 Metrics

Financial strength metrics for Manulife Financial (MFC) and Progressive (PGR)
MetricMFCPGR
Current Ratio (MRQ)----
Debt / Equity (MRQ)----
Net Debt / EBITDA----

Dividends

Dividend Yield (TTM)

Manulife Financial (MFC) at 4.44% delivers top-quartile income for its industry, while Progressive (PGR) at 0.18% pays a more typical yield — both are credible income propositions, MFC the richer one.

MFC

Insurance industry group

4.44%

Max
5.58%
MFC
4.44%
Q3
2.46%
Median
1.18%
Q1
0.00%
Min
0.00%

PGR

Insurance industry group

0.18%

Max
5.58%
Q3
2.46%
Median
1.18%
PGR
0.18%
Q1
0.00%
Min
0.00%
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Manulife Financial (MFC) vs. Progressive (PGR): A comparison of their dividend yield against the Insurance industry group benchmark.

Dividend Payout Ratio (TTM)

Both Manulife Financial (MFC) at 52.02% and Progressive (PGR) at 70.70% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

MFC

Insurance industry group

52.02%

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

PGR

Insurance industry group

70.70%

Max
86.52%
PGR
70.70%
Q3
35.43%
Median
14.92%
Q1
0.00%
Min
0.00%
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Manulife Financial (MFC) vs. Progressive (PGR): A comparison of their payout ratio against the Insurance industry group benchmark.

Dividend Metrics

Dividend metrics for Manulife Financial (MFC) and Progressive (PGR)
MetricMFCPGR
Dividend Yield (TTM)4.44%0.18%
Dividend Payout Ratio (TTM)52.02%70.70%

Valuation

P/E Ratio (TTM)

Both Manulife Financial (MFC) at 16.60 and Progressive (PGR) at 11.11 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

MFC

Insurance industry group

16.60

Max
28.97
Q3
17.55
MFC
16.60
Median
13.05
Q1
8.85
Min
3.65

PGR

Insurance industry group

11.11

Max
28.97
Q3
17.55
Median
13.05
PGR
11.11
Q1
8.85
Min
3.65
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Manulife Financial (MFC) vs. Progressive (PGR): A comparison of their P/E ratio against the Insurance industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Manulife Financial (MFC) at 2.11 and Progressive (PGR) at 1.42 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

MFC

Insurance industry group

2.11

Max
4.36
Q3
2.32
MFC
2.11
Median
1.25
Q1
0.86
Min
0.09

PGR

Insurance industry group

1.42

Max
4.36
Q3
2.32
PGR
1.42
Median
1.25
Q1
0.86
Min
0.09
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Manulife Financial (MFC) vs. Progressive (PGR): A comparison of their P/S ratio against the Insurance industry group benchmark.

P/B Ratio (MRQ)

Manulife Financial (MFC) at 1.96 is valued about in line with its industry on P/B ratio, while Progressive (PGR) at 3.98 carries an above-peer premium to book — PGR is pricier on assets.

MFC

Insurance industry group

1.96

Max
3.98
Q3
2.56
MFC
1.96
Median
1.75
Q1
1.21
Min
-0.15

PGR

Insurance industry group

3.98

PGR
3.98
Max
3.98
Q3
2.56
Median
1.75
Q1
1.21
Min
-0.15
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Manulife Financial (MFC) vs. Progressive (PGR): A comparison of their P/B ratio against the Insurance industry group benchmark.

Valuation Metrics

Valuation metrics for Manulife Financial (MFC) and Progressive (PGR)
MetricMFCPGR
P/E Ratio (TTM)16.6011.11
P/S Ratio (TTM)2.111.42
P/B Ratio (MRQ)1.963.98
Free Cash Flow Yield (TTM)----