Manulife Financial Corp
TSX:MFC

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Manulife Financial Corp Logo
Manulife Financial Corp
TSX:MFC
Watchlist
Price: 50.56 CAD 1.53% Market Closed
Market Cap: 85.2B CAD
Financials Section:
Income Statement Balance Sheet Cash Flow Statement

Income Statement

Income Statement
Manulife Financial Corp

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Income Statement
Currency: CAD
Dec-2001 Mar-2002 Jun-2002 Sep-2002 Dec-2002 Mar-2003 Jun-2003 Sep-2003 Dec-2003 Mar-2004 Jun-2004 Sep-2004 Dec-2004 Mar-2005 Jun-2005 Sep-2005 Dec-2005 Mar-2006 Jun-2006 Sep-2006 Dec-2006 Mar-2007 Jun-2007 Sep-2007 Dec-2007 Mar-2008 Jun-2008 Sep-2008 Dec-2008 Mar-2009 Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025
Revenue
Interest Expense
257
245
247
248
243
251
255
253
253
290
379
503
629
724
772
777
788
809
838
899
932
1 037
990
1 027
1 032
1 037
1 128
1 073
1 187
1 100
1 370
1 412
1 301
1 357
1 060
1 032
1 044
1 051
1 132
1 234
1 249
1 248
1 226
1 112
934
949
952
978
1 045
1 044
980
999
1 131
1 153
1 160
1 158
1 101
986
993
999
1 013
805
826
844
1 139
1 166
1 205
1 211
1 275
1 317
1 317
1 353
1 319
1 360
1 308
1 241
1 181
1 062
1 055
1 036
1 011
933
907
954
1 051
1 246
1 394
1 501
1 554
1 611
1 656
1 651
1 681
1 636
0
0
Gross Premiums Earned
11 752
12 187
12 311
12 343
12 297
12 599
12 528
12 175
12 087
11 869
13 850
16 674
19 144
21 422
21 992
22 187
22 753
23 289
23 591
23 539
23 761
24 051
24 429
24 864
25 240
25 498
26 089
27 063
28 705
30 627
31 016
30 798
28 804
26 539
25 284
24 443
24 456
24 740
24 706
24 805
24 746
24 749
19 942
17 679
17 483
17 587
23 004
25 335
26 386
26 254
26 078
26 578
26 552
28 122
29 866
23 755
26 027
27 755
29 187
38 581
38 813
38 899
39 245
38 914
38 956
40 140
42 012
39 997
34 440
34 489
34 096
38 429
45 977
47 436
46 709
43 359
35 791
43 418
44 994
49 216
42 577
45 281
40 026
33 956
28 681
28 674
28 825
29 909
30 105
30 841
31 929
32 598
33 411
34 090
34 554
35 006
Revenue
16 231
N/A
16 782
+3%
16 664
-1%
16 704
+0%
16 532
-1%
16 762
+1%
16 916
+1%
16 630
-2%
16 506
-1%
16 402
-1%
19 257
+17%
23 246
+21%
26 967
+16%
30 399
+13%
31 371
+3%
31 764
+1%
32 689
+3%
32 577
0%
32 616
+0%
32 498
0%
34 194
+5%
33 540
-2%
32 599
-3%
33 519
+3%
35 581
+6%
33 942
-5%
34 225
+1%
30 688
-10%
33 003
+8%
32 090
-3%
35 913
+12%
43 833
+22%
40 107
-9%
40 382
+1%
40 726
+1%
40 219
-1%
37 618
-6%
34 474
-8%
33 507
-3%
43 703
+30%
50 983
+17%
46 706
-8%
47 173
+1%
31 283
-34%
28 076
-10%
30 092
+7%
18 307
-39%
17 009
-7%
17 485
+3%
25 782
+47%
39 451
+53%
44 142
+12%
54 388
+23%
54 639
+0%
42 507
-22%
38 501
-9%
32 815
-15%
38 716
+18%
58 198
+50%
65 562
+13%
53 337
-19%
43 516
-18%
39 485
-9%
36 963
-6%
58 323
+58%
51 831
-11%
48 889
-6%
44 989
-8%
37 264
-17%
52 070
+40%
60 622
+16%
75 219
+24%
77 822
+3%
74 343
-4%
79 628
+7%
70 368
-12%
71 910
+2%
55 377
-23%
53 570
-3%
56 123
+5%
55 929
0%
66 958
+20%
44 933
-33%
36 458
-19%
22 711
-38%
26 046
+15%
30 612
+18%
31 934
+4%
33 498
+5%
33 640
+0%
34 617
+3%
36 105
+4%
37 436
+4%
37 383
0%
38 630
+3%
38 885
+1%
Operating Income
Operating Expenses
(14 611)
(15 082)
(14 912)
(14 787)
(14 615)
(14 839)
(14 958)
(14 567)
(14 401)
(14 135)
(16 502)
(19 864)
(22 913)
(25 764)
(26 403)
(26 842)
(27 579)
(27 177)
(27 069)
(26 501)
(27 926)
(27 120)
(26 057)
(26 804)
(28 943)
(27 490)
(27 777)
(25 084)
(31 239)
(33 691)
(36 894)
(46 150)
(38 958)
(35 543)
(41 287)
(40 375)
(36 569)
(35 959)
(30 971)
(40 266)
(48 921)
(45 290)
(46 796)
(29 035)
(25 699)
(28 646)
(16 168)
(13 047)
(12 693)
(20 624)
(33 351)
(37 749)
(48 993)
(49 315)
(37 737)
(34 137)
(29 096)
(34 603)
(53 781)
(60 813)
(48 995)
(38 732)
(34 009)
(31 514)
(54 683)
(48 187)
(45 289)
(40 741)
(30 470)
(44 424)
(52 755)
(68 512)
(70 283)
(67 583)
(73 844)
(63 196)
(65 713)
(48 376)
(44 116)
(47 378)
(46 808)
(60 435)
(44 384)
(36 858)
(24 647)
(24 556)
(24 882)
(25 407)
(25 492)
(26 044)
(27 028)
(27 354)
(28 665)
(29 210)
(29 648)
(30 038)
Selling, General & Administrative
(3 378)
(3 423)
(3 423)
(3 408)
(3 422)
(3 320)
(3 207)
(3 079)
(2 900)
(2 882)
(3 326)
(3 844)
(4 441)
(5 025)
(5 102)
(5 072)
(5 693)
(4 829)
(4 785)
(4 775)
(5 721)
(4 900)
(4 940)
(4 998)
(5 926)
(4 941)
(4 937)
(4 985)
(6 007)
(5 202)
(5 224)
(5 160)
(6 047)
(4 951)
(4 917)
(4 892)
(5 959)
(5 009)
(5 032)
(5 069)
(6 142)
(5 206)
(5 336)
(5 437)
(5 507)
(5 573)
(5 611)
(5 689)
(5 721)
(5 725)
(5 658)
(5 716)
(7 138)
(5 875)
(6 400)
(6 662)
(7 327)
(7 493)
(7 605)
(8 030)
(9 752)
(8 231)
(8 306)
(8 201)
(9 991)
(8 472)
(9 301)
(9 480)
(9 766)
(9 732)
(9 098)
(9 200)
(9 131)
(9 140)
(9 106)
(9 018)
(8 921)
(9 049)
(9 014)
(9 053)
(9 083)
(7 753)
(6 458)
(5 082)
(3 731)
(3 886)
(4 024)
(4 152)
(4 330)
(4 346)
(4 549)
(4 711)
(4 859)
(4 959)
(4 874)
(4 902)
Benefits Claims Loss Adjustment
(11 059)
(11 456)
(11 269)
(11 140)
(10 945)
(11 271)
(11 502)
(11 238)
(11 267)
(11 046)
(12 987)
(15 824)
(18 244)
(20 475)
(21 016)
(21 488)
(21 640)
(22 104)
(22 031)
(21 470)
(21 930)
(21 950)
(20 848)
(21 541)
(22 711)
(22 239)
(22 534)
(19 787)
(24 918)
(28 164)
(31 352)
(40 688)
(32 643)
(30 332)
(36 099)
(35 223)
(30 348)
(28 375)
(23 377)
(34 942)
(42 522)
(39 147)
(40 506)
(23 305)
(19 893)
(22 573)
(10 044)
(7 043)
(6 661)
(14 588)
(27 407)
(31 741)
(41 568)
(43 135)
(31 014)
(27 142)
(21 411)
(26 752)
(45 801)
(52 403)
(38 841)
(30 103)
(25 313)
(22 925)
(44 332)
(39 347)
(35 596)
(30 862)
(20 298)
(34 282)
(43 268)
(58 919)
(60 763)
(58 047)
(64 350)
(53 802)
(59 867)
(38 949)
(34 708)
(37 915)
(41 205)
(51 859)
(36 849)
(30 365)
(19 335)
(19 025)
(19 079)
(19 509)
(19 382)
(19 872)
(20 652)
(20 746)
(21 822)
(22 258)
(22 751)
(23 062)
Other Operating Expenses
(174)
(203)
(220)
(239)
(248)
(248)
(249)
(250)
(234)
(207)
(189)
(196)
(228)
(264)
(285)
(282)
(246)
(244)
(253)
(256)
(275)
(270)
(269)
(265)
(306)
(310)
(306)
(312)
(314)
(325)
(318)
(302)
(268)
(260)
(271)
(260)
(262)
(2 575)
(2 562)
(255)
(257)
(937)
(954)
(293)
(299)
(500)
(513)
(315)
(311)
(311)
(286)
(292)
(287)
(305)
(323)
(333)
(358)
(358)
(375)
(380)
(402)
(398)
(390)
(388)
(360)
(368)
(392)
(399)
(406)
(410)
(389)
(393)
(389)
(396)
(388)
(376)
3 075
(378)
(394)
(410)
3 480
(823)
(1 077)
(1 411)
(1 581)
(1 645)
(1 779)
(1 746)
(1 780)
(1 826)
(1 827)
(1 897)
(1 984)
(1 993)
(2 023)
(2 074)
Operating Income
1 620
N/A
1 700
+5%
1 752
+3%
1 917
+9%
1 917
N/A
1 923
+0%
1 958
+2%
2 063
+5%
2 105
+2%
2 267
+8%
2 755
+22%
3 382
+23%
4 054
+20%
4 635
+14%
4 968
+7%
4 922
-1%
5 110
+4%
5 400
+6%
5 547
+3%
5 997
+8%
6 268
+5%
6 420
+2%
6 542
+2%
6 715
+3%
6 638
-1%
6 452
-3%
6 448
0%
5 604
-13%
1 764
-69%
(1 601)
N/A
(981)
+39%
(2 317)
-136%
1 149
N/A
4 839
+321%
(561)
N/A
(156)
+72%
1 049
N/A
(1 485)
N/A
2 536
N/A
3 437
+36%
2 062
-40%
1 416
-31%
377
-73%
2 248
+496%
2 377
+6%
1 446
-39%
2 139
+48%
3 962
+85%
4 792
+21%
5 158
+8%
6 100
+18%
6 393
+5%
5 395
-16%
5 324
-1%
4 770
-10%
4 364
-9%
3 719
-15%
4 113
+11%
4 417
+7%
4 749
+8%
4 342
-9%
4 784
+10%
5 476
+14%
5 449
0%
3 640
-33%
3 644
+0%
3 600
-1%
4 248
+18%
6 794
+60%
7 646
+13%
7 867
+3%
6 707
-15%
7 539
+12%
6 760
-10%
5 784
-14%
7 172
+24%
6 197
-14%
7 001
+13%
9 454
+35%
8 745
-7%
9 121
+4%
6 523
-28%
549
-92%
(400)
N/A
(1 936)
-384%
1 490
N/A
5 730
+285%
6 527
+14%
8 006
+23%
7 596
-5%
7 589
0%
8 751
+15%
8 771
+0%
8 173
-7%
8 982
+10%
8 847
-2%
Pre-Tax Income
Interest Income Expense
(257)
(245)
(247)
(248)
(243)
(251)
(255)
(253)
(253)
(290)
(379)
(503)
(629)
(724)
(772)
(777)
(788)
(809)
(838)
(899)
(932)
(1 037)
(990)
(1 027)
(1 032)
(1 037)
(1 128)
(1 073)
(1 187)
(1 100)
(1 370)
(1 412)
(1 301)
(1 357)
(1 060)
(1 032)
(1 044)
(1 051)
(1 132)
(1 234)
(1 249)
(1 248)
(1 226)
(1 112)
(934)
(949)
(952)
(978)
(1 045)
(1 044)
(980)
(999)
(1 131)
(1 153)
(1 160)
(1 158)
(1 101)
(986)
(993)
(999)
(1 013)
(1 071)
(1 092)
(1 110)
(1 139)
(1 166)
(1 205)
(1 211)
(1 275)
(1 317)
(1 317)
(1 353)
(1 319)
(1 360)
(1 308)
(1 241)
1 277
(1 062)
(1 055)
(1 036)
(1 011)
(172)
(405)
(714)
(2 401)
(1 246)
(1 394)
(1 501)
(1 554)
(1 611)
(1 656)
(1 651)
(1 681)
(1 636)
(1 568)
(1 545)
Non-Reccuring Items
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(2 330)
(2 330)
0
0
0
(665)
0
0
(865)
(200)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(703)
0
0
0
15
0
0
0
(151)
0
0
0
0
0
0
0
0
0
0
0
Total Other Income
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(761)
(502)
(240)
1 350
0
0
0
0
0
0
0
0
0
0
0
Pre-Tax Income
1 363
N/A
1 455
+7%
1 505
+3%
1 669
+11%
1 674
+0%
1 672
0%
1 703
+2%
1 810
+6%
1 852
+2%
1 977
+7%
2 376
+20%
2 879
+21%
3 425
+19%
3 911
+14%
4 196
+7%
4 145
-1%
4 322
+4%
4 591
+6%
4 709
+3%
5 098
+8%
5 336
+5%
5 383
+1%
5 552
+3%
5 688
+2%
5 606
-1%
5 415
-3%
5 320
-2%
4 531
-15%
577
-87%
(2 701)
N/A
(2 351)
+13%
(3 729)
-59%
(152)
+96%
3 482
N/A
(1 621)
N/A
(3 518)
-117%
(2 325)
+34%
(2 536)
-9%
1 404
N/A
2 203
+57%
148
-93%
168
+14%
(849)
N/A
271
N/A
1 243
+359%
497
-60%
1 187
+139%
2 984
+151%
3 747
+26%
4 114
+10%
5 120
+24%
5 394
+5%
4 264
-21%
4 171
-2%
3 610
-13%
3 206
-11%
2 618
-18%
3 127
+19%
3 424
+9%
3 750
+10%
3 329
-11%
3 713
+12%
4 384
+18%
4 339
-1%
2 501
-42%
2 478
-1%
2 395
-3%
3 037
+27%
5 519
+82%
6 329
+15%
6 550
+3%
5 354
-18%
6 220
+16%
5 400
-13%
4 476
-17%
5 931
+33%
6 771
+14%
5 939
-12%
8 399
+41%
7 709
-8%
8 125
+5%
5 590
-31%
(358)
N/A
(1 354)
-278%
(3 138)
-132%
244
N/A
4 336
+1 677%
5 026
+16%
6 452
+28%
5 985
-7%
5 933
-1%
7 100
+20%
7 090
0%
6 537
-8%
7 414
+13%
7 302
-2%
Net Income
Tax Provision
(196)
(228)
(243)
(332)
(304)
(298)
(285)
(321)
(316)
(356)
(488)
(673)
(874)
(983)
(1 078)
(993)
(1 031)
(1 154)
(1 168)
(1 336)
(1 366)
(1 372)
(1 390)
(1 425)
(1 377)
(1 312)
(1 318)
(1 091)
(80)
1 266
1 702
2 435
1 572
242
1 154
1 012
799
766
(272)
(78)
97
336
559
304
492
545
462
(70)
(602)
(699)
(1 036)
(1 151)
(675)
(654)
(392)
(421)
(328)
(510)
(769)
(570)
(209)
(244)
(317)
(213)
233
242
300
183
(952)
(904)
(898)
(868)
(718)
(1 026)
(779)
(1 060)
(1 195)
(605)
(1 222)
(1 007)
(1 213)
(766)
397
503
1 159
410
(408)
(297)
(845)
(816)
(803)
(1 128)
(1 212)
(1 008)
(1 094)
(1 130)
Income from Continuing Operations
1 167
1 227
1 262
1 337
1 370
1 374
1 418
1 489
1 536
1 621
1 888
2 206
2 551
2 928
3 118
3 152
3 291
3 437
3 541
3 762
3 970
4 011
4 162
4 263
4 229
4 103
4 002
3 440
497
(1 435)
(649)
(1 294)
1 420
3 724
(467)
(2 506)
(1 526)
(1 770)
1 132
2 125
245
504
(290)
575
1 735
1 042
1 649
2 914
3 145
3 415
4 084
4 243
3 589
3 517
3 218
2 785
2 290
2 617
2 655
3 180
3 120
3 469
4 067
4 126
2 734
2 720
2 695
3 220
4 567
5 425
5 652
4 486
5 502
4 374
3 697
4 871
5 576
5 334
7 177
6 702
6 912
4 824
39
(851)
(1 979)
654
3 928
4 729
5 607
5 169
5 130
5 972
5 878
5 529
6 320
6 172
Income to Minority Interest
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(2)
(26)
(49)
(57)
(60)
(40)
(21)
(27)
(30)
(39)
(34)
(28)
(27)
(23)
(44)
(48)
(53)
(87)
(76)
(71)
(82)
(68)
(83)
(69)
(72)
(70)
(113)
(143)
(171)
(205)
(171)
(194)
(194)
(200)
(250)
(214)
(233)
(244)
(174)
(233)
(117)
(158)
(262)
(250)
(384)
(349)
(280)
(255)
(166)
(134)
(120)
(121)
(173)
(147)
(138)
(144)
(145)
(158)
(264)
(247)
(258)
(268)
(267)
Net Income (Common)
1 159
N/A
1 227
+6%
1 266
+3%
1 342
+6%
1 378
+3%
1 379
+0%
1 421
+3%
1 486
+5%
1 539
+4%
1 628
+6%
1 898
+17%
2 219
+17%
2 550
+15%
2 925
+15%
3 104
+6%
3 133
+1%
3 280
+5%
3 425
+4%
3 541
+3%
3 766
+6%
3 955
+5%
3 988
+1%
4 132
+4%
4 228
+2%
4 272
+1%
4 156
-3%
4 061
-2%
3 501
-14%
487
-86%
(1 450)
N/A
(692)
+52%
(1 388)
-101%
1 338
N/A
3 617
+170%
(595)
N/A
(2 670)
-349%
(1 742)
+35%
(1 981)
-14%
941
N/A
1 910
+103%
44
-98%
280
+536%
(497)
N/A
560
N/A
1 698
+203%
1 005
-41%
1 541
+53%
2 784
+81%
2 999
+8%
3 275
+9%
3 955
+21%
4 026
+2%
3 375
-16%
3 285
-3%
2 949
-10%
2 470
-16%
2 075
-16%
2 397
+16%
2 493
+4%
2 983
+20%
2 796
-6%
3 089
+10%
3 638
+18%
3 621
0%
1 945
-46%
1 969
+1%
1 971
+0%
2 436
+24%
4 632
+90%
5 432
+17%
5 646
+4%
4 795
-15%
5 430
+13%
4 550
-16%
3 802
-16%
5 148
+35%
5 700
+11%
5 187
-9%
7 085
+37%
6 614
-7%
6 890
+4%
4 878
-29%
117
-98%
(998)
N/A
(2 193)
-120%
433
N/A
3 539
+717%
4 058
+15%
4 800
+18%
4 257
-11%
4 273
+0%
5 097
+19%
5 074
0%
4 691
-8%
5 434
+16%
5 392
-1%
EPS (Diluted)
1.19
N/A
1.26
+6%
1.3
+3%
1.4
+8%
1.44
+3%
1.47
+2%
1.51
+3%
1.59
+5%
1.65
+4%
1.75
+6%
1.33
-24%
1.85
+39%
1.81
-2%
1.79
-1%
1.92
+7%
1.93
+1%
2.03
+5%
2.13
+5%
2.23
+5%
2.4
+8%
2.5
+4%
2.55
+2%
2.66
+4%
2.77
+4%
2.78
+0%
2.75
-1%
2.68
-3%
2.31
-14%
0.32
-86%
-0.92
N/A
-0.42
+54%
-0.85
-102%
0.82
N/A
1.97
+140%
-0.35
N/A
-1.51
-331%
-0.99
+34%
-1.06
-7%
0.5
N/A
1.06
+112%
0.02
-98%
0.14
+600%
-0.27
N/A
0.3
N/A
0.9
+200%
0.54
-40%
0.82
+52%
1.49
+82%
1.6
+7%
1.76
+10%
2.12
+20%
2.15
+1%
1.79
-17%
1.67
-7%
1.48
-11%
1.26
-15%
1.05
-17%
1.21
+15%
1.26
+4%
1.51
+20%
1.41
-7%
1.56
+11%
1.83
+17%
1.82
-1%
0.97
-47%
0.98
+1%
0.99
+1%
1.22
+23%
2.32
+90%
2.75
+19%
2.86
+4%
2.44
-15%
2.77
+14%
2.33
-16%
1.95
-16%
2.64
+35%
2.93
+11%
2.66
-9%
3.64
+37%
3.4
-7%
3.54
+4%
2.5
-29%
0.06
-98%
-0.53
N/A
-1.15
-117%
0.23
N/A
1.9
+726%
2.21
+16%
2.61
+18%
2.35
-10%
2.37
+1%
2.86
+21%
2.84
-1%
2.71
-5%
3.16
+17%
3.16
N/A

See Also

Summary
MFC intrinsic value, competitors valuation, and company profile.
DCF Valuation
MFC stock valuation using Discount Cash Flow valuation method.
Relative Valuation
MFC stock valuation using valuation multiples.
Wall Street Estimates
MFC price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
MFC stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
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