Executive Summary
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, the United States, and internationally. More Details
Rewards
Risk Analysis
Snowflake Analysis
Established dividend payer and good value.
Similar Companies
Share Price & News
How has Manulife Financial's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MFC is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: MFC's weekly volatility (5%) has been stable over the past year.
Market Performance
7 Day Return
0.9%
MFC
1.1%
CA Insurance
-0.5%
CA Market
1 Year Return
-12.4%
MFC
-9.1%
CA Insurance
1.6%
CA Market
Return vs Industry: MFC underperformed the Canadian Insurance industry which returned -9.2% over the past year.
Return vs Market: MFC underperformed the Canadian Market which returned 1.7% over the past year.
Shareholder returns
| MFC | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.9% | 1.1% | -0.5% |
| 30 Day | 7.7% | 5.1% | 2.9% |
| 90 Day | 28.5% | 15.9% | 12.2% |
| 1 Year | -7.4%-12.4% | -4.6%-9.1% | 5.3%1.6% |
| 3 Year | 0.8%-12.0% | 9.5%-3.6% | 13.1%2.3% |
| 5 Year | 59.1%29.2% | 43.6%18.0% | 66.1%40.5% |
Long-Term Price Volatility Vs. Market
How volatile is Manulife Financial's share price compared to the market and industry in the last 5 years?
Simply Wall St News
6 days ago | Simply Wall St
Manulife Financial (TSE:MFC) Has Compensated Shareholders With A Respectable 64% Return On Their Investment3 weeks ago | Simply Wall St
Here's What Manulife Financial Corporation's (TSE:MFC) Shareholder Ownership Structure Looks Like1 month ago | Simply Wall St
Do Its Financials Have Any Role To Play In Driving Manulife Financial Corporation's (TSE:MFC) Stock Up Recently?Valuation
Is Manulife Financial undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MFC (CA$24.18) is trading below our estimate of fair value (CA$52.7)
Significantly Below Fair Value: MFC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: MFC is good value based on its PE Ratio (9.1x) compared to the CA Insurance industry average (11.6x).
PE vs Market: MFC is good value based on its PE Ratio (9.1x) compared to the Canadian market (16.6x).
Price to Earnings Growth Ratio
PEG Ratio: MFC is poor value based on its PEG Ratio (1.3x)
Price to Book Ratio
PB vs Industry: MFC's PB Ratio (1x) is in line with the CA Insurance industry average.
Next Steps
Future Growth
How is Manulife Financial forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?
7.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MFC's forecast earnings growth (7% per year) is above the savings rate (1.5%).
Earnings vs Market: MFC's earnings (7% per year) are forecast to grow slower than the Canadian market (25.9% per year).
High Growth Earnings: MFC's earnings are forecast to grow, but not significantly.
Revenue vs Market: MFC's revenue (0.8% per year) is forecast to grow slower than the Canadian market (7.9% per year).
High Growth Revenue: MFC's revenue (0.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MFC's Return on Equity is forecast to be low in 3 years time (11.4%).
Next Steps
Past Performance
How has Manulife Financial performed over the past 5 years?
17.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MFC has high quality earnings.
Growing Profit Margin: MFC's current net profit margins (7.3%) are higher than last year (6.4%).
Past Earnings Growth Analysis
Earnings Trend: MFC's earnings have grown by 17.1% per year over the past 5 years.
Accelerating Growth: MFC's earnings growth over the past year (7.2%) is below its 5-year average (17.1% per year).
Earnings vs Industry: MFC earnings growth over the past year (7.2%) underperformed the Insurance industry 29.7%.
Return on Equity
High ROE: MFC's Return on Equity (9%) is considered low.
Next Steps
Financial Health
How is Manulife Financial's financial position?
Financial Position Analysis
Short Term Liabilities: MFC's short term assets (CA$112.6B) exceed its short term liabilities (CA$682.0M).
Long Term Liabilities: MFC's short term assets (CA$112.6B) do not cover its long term liabilities (CA$821.8B).
Debt to Equity History and Analysis
Debt Level: MFC's debt to equity ratio (53.9%) is considered high.
Reducing Debt: MFC's debt to equity ratio has reduced from 55.5% to 53.9% over the past 5 years.
Debt Coverage: MFC's debt is well covered by operating cash flow (67.2%).
Interest Coverage: MFC's interest payments on its debt are well covered by EBIT (5.8x coverage).
Balance Sheet
Next Steps
Dividend
What is Manulife Financial current dividend yield, its reliability and sustainability?
4.63%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MFC's dividend (4.63%) is higher than the bottom 25% of dividend payers in the Canadian market (1.54%).
High Dividend: MFC's dividend (4.63%) is low compared to the top 25% of dividend payers in the Canadian market (4.99%).
Stability and Growth of Payments
Stable Dividend: MFC's dividends per share have been stable in the past 10 years.
Growing Dividend: MFC's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (41.1%), MFC's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MFC's dividends in 3 years are forecast to be well covered by earnings (39% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
2.3yrs
Average management tenure
CEO
Roy Gori (50 yo)
3.25yrs
Tenure
CA$14,695,549
Compensation
Mr. Rocco Gori, also known as Roy, is President and Chief Executive Officer of Manufacturers Life Insurance Company since June 5, 2017 and October 1, 2017 respectively. Along with serving as Chief Executiv...
CEO Compensation Analysis
Compensation vs Market: Roy's total compensation ($USD11.54M) is above average for companies of similar size in the Canadian market ($USD6.58M).
Compensation vs Earnings: Roy's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 3.25yrs | CA$14.70m | 0.023% CA$ 10.7m | |
| Chief Financial Officer | 3yrs | CA$5.11m | 0.00043% CA$ 201.7k | |
| Executive VP & COO | 1.58yrs | CA$6.69m | 0.00025% CA$ 117.3k | |
| President & CEO of John Hancock | no data | CA$6.35m | 0.00048% CA$ 225.2k | |
| CEO & President of Manulife Asia | 3.17yrs | CA$5.65m | 0.00038% CA$ 178.3k | |
| Chief Investment Officer | 1.83yrs | no data | 0.0028% CA$ 1.3m | |
| Executive VP & Chief Accounting Officer | no data | no data | no data | |
| Chief Information Officer | 1.75yrs | no data | 0.000070% CA$ 32.8k | |
| Head of Investor Relations | 2.33yrs | no data | no data | |
| General Counsel | 4.25yrs | no data | 0.000070% CA$ 32.8k | |
| Chief Human Resources Officer | 2.25yrs | CA$182.77k | 0.0024% CA$ 1.1m | |
| Executive Vice President of Institutional | no data | no data | no data |
2.3yrs
Average Tenure
57.5yo
Average Age
Experienced Management: MFC's management team is considered experienced (2.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 3.25yrs | CA$14.70m | 0.023% CA$ 10.7m | |
| Independent Chairman of the Board | 2.67yrs | CA$528.44k | 0.0011% CA$ 530.1k | |
| Independent Director | 8yrs | CA$323.67k | 0.0075% CA$ 3.5m | |
| Independent Director | 10.42yrs | CA$323.67k | 0.0010% CA$ 483.2k | |
| Independent Director | 9.42yrs | CA$323.67k | 0.00059% CA$ 276.8k | |
| Independent Director | 11.17yrs | CA$270.83k | no data | |
| Independent Director | 10.25yrs | CA$270.83k | 0.00046% CA$ 215.8k | |
| Independent Director | 7.83yrs | CA$270.83k | 0.0023% CA$ 1.1m | |
| Independent Director | 9.25yrs | CA$368.11k | no data | |
| Independent Director | 9.17yrs | CA$323.67k | 0.000030% CA$ 14.1k | |
| Independent Director | 1.42yrs | CA$107.87k | no data | |
| Independent Director | 1.42yrs | CA$107.87k | no data |
8.6yrs
Average Tenure
66.5yo
Average Age
Experienced Board: MFC's board of directors are considered experienced (8.6 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: MFC insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Manulife Financial Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Manulife Financial Corporation
- Ticker: MFC
- Exchange: TSX
- Founded: 1887
- Industry: Life and Health Insurance
- Sector: Insurance
- Market Cap: CA$46.915b
- Shares outstanding: 1.94b
- Website: https://www.manulife.com
Number of Employees
Location
- Manulife Financial Corporation
- 200 Bloor Street East
- NT 9
- Toronto
- Ontario
- M4W 1E5
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MFC | TSX (The Toronto Stock Exchange) | Yes | Common Shares | CA | CAD | Sep 1999 |
| MFC | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Sep 1999 |
| MLU | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Sep 1999 |
| 945 | SEHK (The Stock Exchange of Hong Kong Ltd.) | Yes | Common Shares | HK | HKD | Sep 1999 |
| MFC | PSE (Philippines Stock Exchange) | Yes | Common Shares | PH | PHP | Sep 1999 |
| 0V5H | LSE (London Stock Exchange) | Yes | Common Shares | GB | CAD | Sep 1999 |
| MFC N | BMV (Bolsa Mexicana de Valores) | Yes | Common Shares | MX | MXN | Sep 1999 |
| MNUF.F | OTCPK (Pink Sheets LLC) | PFD CL A SER 3 | US | USD | Jan 2006 | |
| MFC.PRC | TSX (The Toronto Stock Exchange) | PFD CL A SER 3 | CA | CAD | Jan 2006 | |
| MFC.PRF | TSX (The Toronto Stock Exchange) | CV PFD-3 CL1 | CA | CAD | Mar 2011 | |
| MFC.PRJ | TSX (The Toronto Stock Exchange) | NONCUM PF1 SER11 | CA | CAD | Dec 2012 | |
| MFC.PRK | TSX (The Toronto Stock Exchange) | PFD SHS CL 1 S13 | CA | CAD | Jun 2013 | |
| MFC.PRL | TSX (The Toronto Stock Exchange) | PFD CL 1 SR-15 | CA | CAD | Feb 2014 | |
| MFC.PRN | TSX (The Toronto Stock Exchange) | NONCUM PFD SHS | CA | CAD | Dec 2014 | |
| MNLC.F | OTCPK (Pink Sheets LLC) | NONCUM PFD SHS | US | USD | Dec 2014 | |
| MFC.PRO | TSX (The Toronto Stock Exchange) | PFD SER 21 | CA | CAD | Feb 2016 | |
| MFC.PRR | TSX (The Toronto Stock Exchange) | PFD CL 1 SER 23 | CA | CAD | Nov 2016 |
Biography
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, th...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/16 23:35 |
| End of Day Share Price | 2021/01/15 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.