Financials Manulife Financial Corporation Nyse

Equities

MFC

CA56501R1064

Life & Health Insurance

Market Closed - Nyse 04:00:02 2024-04-26 pm EDT 5-day change 1st Jan Change
23.47 USD +0.43% Intraday chart for Manulife Financial Corporation +1.73% +6.20%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 51,381 43,947 46,837 45,278 52,881 57,762 - -
Enterprise Value (EV) 1 31,081 31,773 46,837 32,359 45,281 43,088 38,050 57,762
P/E ratio 9.52 x 7.73 x 6.81 x 6.56 x 11.2 x 9.59 x 8.13 x -
Yield 3.79% 4.94% 4.65% 5.47% 4.99% 4.94% 5.28% 5.13%
Capitalization / Revenue 0.65 x 0.56 x 0.76 x 2.64 x 1.08 x 1.08 x 1.02 x 0.98 x
EV / Revenue 0.39 x 0.4 x 0.76 x 1.89 x 0.93 x 0.8 x 0.67 x 0.98 x
EV / EBITDA - - - - - 6.28 x 5.24 x -
EV / FCF - - - - - 5.53 x 4.92 x -
FCF Yield - - - - - 18.1% 20.3% -
Price to Book 1.13 x 0.91 x 0.9 x 0.91 x 1.31 x 1.29 x 1.19 x -
Nbr of stocks (in thousands) 1,949,212 1,940,249 1,942,637 1,874,847 1,806,039 1,801,128 - -
Reference price 2 26.36 22.65 24.11 24.15 29.28 32.07 32.07 32.07
Announcement Date 2/12/20 2/10/21 2/9/22 2/15/23 2/14/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 79,570 78,908 61,821 17,147 48,739 53,731 56,701 58,685
EBITDA 1 - - - - - 6,856 7,268 -
EBIT 1 5,541 6,056 9,553 10,541 8,006 6,562 6,631 -
Operating Margin 6.96% 7.67% 15.45% 61.47% 16.43% 12.21% 11.69% -
Earnings before Tax (EBT) 1 6,408 6,771 8,125 8,747 6,452 8,032 8,466 8,080
Net income 1 5,430 5,700 6,890 7,294 5,103 6,210 6,774 6,625
Net margin 6.82% 7.22% 11.15% 42.54% 10.47% 11.56% 11.95% 11.29%
EPS 2 2.770 2.930 3.540 3.680 2.610 3.344 3.947 -
Free Cash Flow 1 - - - - - 7,785 7,728 -
FCF margin - - - - - 14.49% 13.63% -
FCF Conversion (EBITDA) - - - - - 113.55% 106.33% -
FCF Conversion (Net income) - - - - - 125.38% 114.09% -
Dividend per Share 2 1.000 1.120 1.120 1.320 1.460 1.585 1.695 1.645
Announcement Date 2/12/20 2/10/21 2/9/22 2/15/23 2/14/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales - - - - - - - 1,722 1,783 14,917 - - - - -
EBITDA - - - - - - - - - - - - - - -
EBIT 1,849 2,824 - 1,680 - 2,671 - - - - - - - - -
Operating Margin - - - - - - - - - - - - - - -
Earnings before Tax (EBT) 1 1,480 2,481 3,711 1,257 1,637 2,142 1,719 1,436 1,174 2,123 1,696 1,954 2,052 2,084 1,910
Net income 1 1,555 2,013 2,918 1,026 1,347 1,891 1,406 1,025 1,013 1,659 838.8 1,478 1,574 1,590 1,392
Net margin - - - - - - - 59.52% 56.81% 11.12% - - - - -
EPS 2 0.8000 1.030 1.500 0.5300 0.6800 0.9500 0.7300 0.5000 0.5200 0.8600 0.5390 0.8941 0.9524 0.9260 0.9950
Dividend per Share 2 0.2800 0.2800 0.3300 0.3300 0.3300 0.3300 0.3650 0.3650 0.3650 0.3650 0.4000 0.4000 0.4000 0.4000 -
Announcement Date 11/3/21 2/9/22 5/11/22 8/10/22 11/9/22 2/15/23 5/10/23 8/9/23 11/8/23 2/14/24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 20,300 12,174 - 12,919 7,600 14,674 19,712 -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - - - - 7,785 7,728 -
ROE (net income / shareholders' equity) 13.1% 10.9% 13% 11.9% 15.9% 14.9% 14.9% 13.4%
ROA (Net income/ Total Assets) 0.75% 0.63% 0.7% 0.67% 0.78% 0.92% 1% 1.2%
Assets 1 725,955 900,844 979,918 1,087,942 652,482 677,398 677,388 552,083
Book Value Per Share 2 23.30 25.00 26.80 26.50 22.40 24.80 27.00 -
Cash Flow per Share - 10.30 - 9.510 - - - -
Capex 1 - - - - - 4,751 6,325 -
Capex / Sales - - - - - 8.84% 11.15% -
Announcement Date 2/12/20 2/10/21 2/9/22 2/15/23 2/14/24 - - -
1CAD in Million2CAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
32.07 CAD
Average target price
35.3 CAD
Spread / Average Target
+10.08%
Consensus
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