Manulife Financial
MFC · NYSELife Insurance · Fiscal year ends Dec 31 · Reports in CAD
Manulife Financial reported revenue of CAD 8.1B in the fiscal year ended Dec 2025, up 7.1% from the year before. Net income was CAD 6.1B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | CAD 61.8B | CAD 6.2B | CAD 6.7B | CAD 7.6B | CAD 8.1B |
| Selling, general & admin | CAD 7.8B | CAD 3.7B | CAD 4.3B | CAD 4.9B | CAD 4.9B |
| Interest expense | CAD 1B | CAD 1.1B | CAD 1.6B | CAD 1.7B | CAD 1.5B |
| Pre-tax income | CAD 8.1B | −CAD 3.1B | CAD 6.5B | CAD 7.1B | CAD 7.1B |
| Income tax | CAD 1.2B | −CAD 1.2B | CAD 845M | CAD 1.2B | CAD 1B |
| Net income | CAD 6.9B | −CAD 2B | CAD 5.6B | CAD 5.9B | CAD 6.1B |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | CAD 22.6B | CAD 19.2B | CAD 20.3B | CAD 25.8B | CAD 26.7B |
| Goodwill | CAD 5.7B | CAD 6B | CAD 5.9B | CAD 6.3B | CAD 6.9B |
| Total assets | CAD 918B | CAD 834B | CAD 876B | CAD 979B | CAD 1,025B |
| Total liabilities | CAD 859B | CAD 785B | CAD 827B | CAD 926B | CAD 973B |
| Shareholders' equity | CAD 58.4B | CAD 46.9B | CAD 47B | CAD 51B | CAD 50.1B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | CAD 23.2B | CAD 16.6B | CAD 20.4B | CAD 26.5B | CAD 32.1B |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −90.0% | 9.1% | 12.5% | 7.1% |
| Net margin | 11.2% | −32.0% | 83.1% | 77.5% | 74.5% |
| Return on equityBlank when equity is negative | 11.8% | −4.2% | 11.9% | 11.5% | 12.1% |
| Cash conversion (CFO ÷ net income) | 3.35x | −8.40x | 3.64x | 4.51x | 5.30x |
Recent filings
More in Life Insurance
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.