Sun Life Financial
SLF · NYSELife Insurance · Fiscal year ends Dec 31 · Reports in CAD
Sun Life Financial reported revenue of CAD 41.9B in the fiscal year ended Dec 2025, up 8.0% from the year before. Net income was CAD 3.8B. Operating cash flow of CAD 2.8B less capital expenditure of CAD 145M left free cash flow of CAD 2.7B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | CAD 35.7B | CAD 5.8B | CAD 40.9B | CAD 38.8B | CAD 41.9B |
| Interest expense | CAD 327M | CAD 445M | CAD 552M | CAD 664M | CAD 526M |
| Pre-tax income | CAD 5.1B | CAD 3.6B | CAD 3.9B | CAD 4.3B | CAD 4.8B |
| Income tax | CAD 727M | CAD 546M | CAD 461M | CAD 1B | CAD 1B |
| Net income | CAD 4.4B | CAD 3.1B | CAD 3.5B | CAD 3.3B | CAD 3.8B |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | CAD 7.7B | CAD 9.4B | CAD 11.2B | CAD 10B | CAD 9.6B |
| Net PP&E | CAD 612M | CAD 607M | CAD 666M | CAD 667M | CAD 651M |
| Goodwill | CAD 6.5B | CAD 8.7B | CAD 9B | CAD 9.5B | CAD 9.5B |
| Total assets | CAD 349B | CAD 324B | CAD 333B | CAD 371B | CAD 398B |
| Total liabilities | CAD 327B | CAD 301B | CAD 309B | CAD 345B | CAD 373B |
| Shareholders' equity | CAD 22B | CAD 22.5B | CAD 23.6B | CAD 25.6B | CAD 24.5B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −CAD 1.9B | CAD 4.3B | CAD 5.6B | CAD 2.5B | CAD 2.8B |
| Capital expenditure | CAD 81M | – | CAD 172M | CAD 143M | CAD 145M |
| Free cash flow | −CAD 1.9B | – | CAD 5.4B | CAD 2.4B | CAD 2.7B |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −83.8% | 609.7% | −5.2% | 8.0% |
| Net margin | 12.2% | 53.4% | 8.5% | 8.5% | 9.0% |
| Return on equityBlank when equity is negative | 19.9% | 13.7% | 14.7% | 12.9% | 15.4% |
| Free cash flow margin | −5.4% | – | 13.3% | 6.2% | 6.3% |
| Cash conversion (CFO ÷ net income) | −0.42x | 1.40x | 1.62x | 0.77x | 0.74x |
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.