Manulife Financial Income Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Premiums Earned	28,888	26,592	23,972	23,118	78,130
Investment Income	42,961	37,360	34,201	15,541	27,251
Net Gains on Investments	6,275	2,210	3,138	-13,646	-4,003
Total Other Revenues	8,129	7,588	6,746	6,186	11,132
Revenue	86,253	73,750	68,057	31,199	61,821
Revenue Growth (YoY)	16.95%	8.37%	118.14%	-49.53%	-21.65%
Insurance Benefits & Claims	24,362	22,591	19,995	19,958	70,136
Policy Amortization Costs	1,539	1,480	1,345	1,333	6,638
Investment Expense	1,342	1,348	1,297	1,221	1,980
Other Operating Expenses	4,901	4,859	4,330	3,731	8,245
Operating Income	54,109	43,472	41,090	4,956	-25,178
Interest Expense	-1,530	-1,681	-1,554	-1,051	-1,011
Other Non-Operating Income (Expense)	-21,538	-15,590	-15,063	-6,706	-
Total Non-Operating Income (Expense)	-23,068	-17,271	-16,617	-7,757	-1,011
Pretax Income	7,094	7,090	6,452	-3,138	8,125
Provision for Income Taxes	1,034	1,212	845	-1,159	1,213
Net Income	5,251	5,074	4,800	-2,193	6,890
Minority Interest in Earnings	488	493	504	-46	-193
Net Income Attributable to Preferred Dividends	321	311	303	260	215
Net Income to Common	5,251	5,074	4,800	-2,193	6,890
Net Income Growth	3.49%	5.71%	-	-	20.88%
Shares Outstanding (Basic)	1,703	1,779	1,834	1,910	1,942
Shares Outstanding (Diluted)	1,708	1,785	1,838	1,913	1,946
Shares Change (YoY)	-4.31%	-2.88%	-3.92%	-1.70%	0.15%
EPS (Basic)	3.08	2.85	2.62	-1.15	3.55
EPS (Diluted)	3.07	2.84	2.61	-1.15	3.54
EPS Growth	8.10%	8.81%	-	-	20.82%
Free Cash Flow	32,105	26,494	20,423	16,628	23,155
Free Cash Flow Growth	21.18%	29.73%	22.82%	-28.19%	15.50%
Free Cash Flow Per Share	18.80	14.84	11.11	8.69	11.90
Dividends Per Share	1.760	1.600	1.460	1.320	1.120
Dividend Growth	10.00%	9.59%	10.61%	17.86%	-
Operating Margin	62.73%	58.95%	60.38%	15.89%	-40.73%
Profit Margin	7.03%	7.97%	8.24%	-6.34%	11.18%
FCF Margin	37.22%	35.92%	30.01%	53.30%	37.45%
EBITDA	54,109	43,472	41,090	4,956	-25,178
EBIT	54,109	43,472	41,090	4,956	-25,178
EBIT Margin	62.73%	58.95%	60.38%	15.89%	-40.73%
Effective Tax Rate	14.58%	17.09%	13.10%	36.93%	14.93%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Insurance template. Financial Sources.