Manulife Financial Corporation logo

Manulife Financial Corporation

0945.HK

HKSEFinancial ServicesInsurance - Life

Latest quote

HK$332.2

HK$0.00 · 0.00%

Aug 24, 4:08 PM HKT

0945.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Manulife Financial Corporation, along with its group of affiliated companies, delivers a comprehensive array of financial offerings and services across key regions including Asia, Canada, the United States, and global markets. The company's operations are strategically organized into three main divisions: Wealth and Asset Management; Insurance and Annuity Products; and Corporate and Other. Its Wealth and Asset Management division specializes in investment solutions such as mutual funds and exchange-traded funds, provides group retirement and savings programs, and offers institutional asset management. These services are distributed through its network of affiliated agents and brokers, securities firms, financial advisors, pension consultants, and banking partners. The Insurance and Annuity Products segment offers a diverse portfolio including deposit and credit products, individual life insurance, group and individual long-term care coverage, and various guaranteed and partially guaranteed annuity plans. These are made available to clients via insurance agents, independent brokers, banks, financial planners, and direct marketing channels. The Corporate and Other segment handles property and casualty insurance and reinsurance, alongside managing run-off reinsurance portfolios like variable annuities and accident and health policies. This division also oversees timberland and agricultural holdings. Furthermore, it engages in activities spanning insurance agency operations, portfolio and mutual fund management, mutual fund dealing, and provides expertise in life, annuity, long-term care, and financial reinsurance. The corporation also offers specialized investment management, advisory, and dealer services. Founded in 1887, Manulife Financial Corporation's headquarters are located in Toronto, Canada.

Industry
Insurance - Life
Sector
Financial Services
Headquarters
CA
CEO
Philip James Witherington
Listed since
Sep 27, 1999
Employees
37,000

Market position

52-week range

Current HK$332.2

Open
HK$332.2
Previous close
HK$332.2
Volume
26.01K
1.48× average
Average volume
17.57K
Average daily volume
Market cap
554.41B HKD
Beta
0.78
Market reference 1
50-day average
HK$331.37
+0.25% above average
200-day average
HK$296.51
+12.04% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
73.07B CAD
P/E (TTM)
15.99×
P/B (TTM)
1.86×
P/S (TTM)
1.71×
EV / EBITDA
10.75×
Earnings yield
6.79%
Free cash flow yield
37.73%
Dividend yield
3.19%

Profitability & efficiency

Gross margin
36.59%
Operating margin
14.46%
Net margin
11.62%
Return on equity
11.35%
Return on assets
0.56%
Return on invested capital
0.62%

Financial health

Debt / equity
0.27×
Current ratio
2.12×
Altman Z-score
0.21
Piotroski F-score
5 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends48%26%3%-19%Gross margin, FY2021: 42.24%Gross margin, FY2022: 4.24%Gross margin, FY2023: 32.34%Gross margin, FY2024: 33.15%Gross margin, FY2025: 25.51%Operating margin, FY2021: 13.58%Operating margin, FY2022: -13.29%Operating margin, FY2023: 15.25%Operating margin, FY2024: 15.55%Operating margin, FY2025: 13.38%Net margin, FY2021: 11.12%Net margin, FY2022: -8.89%Net margin, FY2023: 12.91%Net margin, FY2024: 12.35%Net margin, FY2025: 10.91%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 42.24%. Gross margin FY2022 4.24%. Gross margin FY2023 32.34%. Gross margin FY2024 33.15%. Gross margin FY2025 25.51%. Operating margin FY2021 13.58%. Operating margin FY2022 -13.29%. Operating margin FY2023 15.25%. Operating margin FY2024 15.55%. Operating margin FY2025 13.38%. Net margin FY2021 11.12%. Net margin FY2022 -8.89%. Net margin FY2023 12.91%. Net margin FY2024 12.35%. Net margin FY2025 10.91%.

Income trends

Revenue

53.01B CAD+16.30%

Operating income

7.09B CAD+0.06%

Net income

5.78B CAD+2.68%
Income trends across reported periods66.14B CAD40.95B CAD15.76B CAD−9.44B CADRevenue, FY2021: 59.84B CADRevenue, FY2022: 23.62B CADRevenue, FY2023: 42.31B CADRevenue, FY2024: 45.58B CADRevenue, FY2025: 53.01B CADOperating income, FY2021: 8.13B CADOperating income, FY2022: −3.14B CADOperating income, FY2023: 6.45B CADOperating income, FY2024: 7.09B CADOperating income, FY2025: 7.09B CADNet income, FY2021: 6.66B CADNet income, FY2022: −2.1B CADNet income, FY2023: 5.46B CADNet income, FY2024: 5.63B CADNet income, FY2025: 5.78B CADFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 59.84B CAD. Revenue FY2022 23.62B CAD. Revenue FY2023 42.31B CAD. Revenue FY2024 45.58B CAD. Revenue FY2025 53.01B CAD. Operating income FY2021 8.13B CAD. Operating income FY2022 −3.14B CAD. Operating income FY2023 6.45B CAD. Operating income FY2024 7.09B CAD. Operating income FY2025 7.09B CAD. Net income FY2021 6.66B CAD. Net income FY2022 −2.1B CAD. Net income FY2023 5.46B CAD. Net income FY2024 5.63B CAD. Net income FY2025 5.78B CAD.
Metric (CAD)FY2025FY2024FY2023FY2022FY2021
Revenue53.01B CAD45.58B CAD42.31B CAD23.62B CAD59.84B CAD
Cost of goods sold39.49B CAD30.47B CAD28.63B CAD22.62B CAD34.57B CAD
Gross profit13.53B CAD15.11B CAD13.68B CAD1B CAD25.27B CAD
Selling, general, and administrative4.9B CAD4.86B CAD4.33B CAD3.73B CAD7.83B CAD
Operating expenses6.43B CAD8.02B CAD7.23B CAD4.14B CAD17.15B CAD
Interest income19.08B CAD17.48B CAD16.12B CAD15.96B CAD15.7B CAD
Interest expense1.53B CAD1.68B CAD1.55B CAD1.05B CAD1.01B CAD
Depreciation and amortization−1.83B CAD−1.51B CAD−1.42B CAD−1.47B CAD529M CAD
Operating income7.09B CAD7.09B CAD6.45B CAD−3.14B CAD8.13B CAD
Net income5.78B CAD5.63B CAD5.46B CAD−2.1B CAD6.66B CAD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
82%
9 beats, 2 misses, 0 met estimates
Average EPS surprise
+3.56%
11 comparable reports
Latest EPS result
6.02
Estimate 5.96 · Beat by 1.01%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates7.076.375.674.97Q1 '25BeatQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 19, 2025: actual 5.56, estimate 5.24, surprise +6.11%, Beat. Q2 2025, reported May 7, 2025: actual 5.35, estimate 5.29, surprise +1.13%, Beat. Q3 2025, reported Aug 6, 2025: actual 5.48, estimate 5.58, surprise -1.79%, Miss. Q4 2025, reported Nov 12, 2025: actual 6.48, estimate 5.81, surprise +11.53%, Beat. Q1 2026, reported Feb 11, 2026: actual 6.35, estimate 6.04, surprise +5.13%, Beat. Q2 2026, reported May 13, 2026: actual 5.98, estimate 6.18, surprise -3.24%, Miss. Q3 2026, reported Aug 5, 2026: actual 6.02, estimate 5.96, surprise +1.01%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 6.8, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates263.66B134.53B5.41B-123.71BQ1 '25MissQ2 '25No estimateQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 19, 2025: actual 24.99B HKD, estimate 37.15B HKD, surprise -32.73%, Miss. Q2 2025, reported May 7, 2025: actual 11.57B HKD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 6, 2025: actual 236.94B HKD, estimate 96.56B HKD, surprise +145.38%, Beat. Q4 2025, reported Nov 12, 2025: actual 96.56B HKD, estimate -96.99B HKD, surprise +199.55%, Beat. Q1 2026, reported Feb 11, 2026: actual -96.99B HKD, estimate 13.29B HKD, surprise -829.90%, Miss. Q2 2026, reported May 13, 2026: actual 66.64B HKD, estimate 2.31B HKD, surprise +2779.63%, Beat. Q3 2026, reported Aug 5, 2026: actual 110.42B HKD, estimate 2.35B HKD, surprise +4596.33%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 113.26B HKD, surprise —, Comparison unavailable.

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