Manulife Financial Corporation (MFC)

Manulife Financial Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	19,742	17,542	17,094	39,065	32,917	35,578
Total Interest & Dividend Income	-2,046	559	7,753	13,632	15,349	13,589
Gain (Loss) on Sale of Investments	4,017	3,149	-2,381	996	11,700	15,140
Other Revenue	9,039	7,285	-4,977	5,452	17,154	13,001
Total Revenue	30,081	27,246	16,911	59,841	77,121	77,822
Revenue Growth (YoY)	15.83%	61.11%	-71.74%	-22.41%	-0.90%	108.84%
Policy Benefits	13,527	11,898	12,039	35,068	60,498	57,184
Policy Acquisition & Underwriting Costs	1,654	1,654	1,285	6,638	6,043	6,293
Selling, General & Administrative	4,575	4,276	3,705	7,678	7,510	7,686
Other Operating Expenses	1,438	1,358	1,943	417	381	389
Reinsurance Income or Expense	-	-	-	-754	5,263	1,269
Total Operating Expenses	21,194	19,186	18,972	50,555	69,169	70,283
Operating Income	8,887	8,060	-2,061	9,286	7,952	7,539
Interest Expense	-1,651	-1,554	-1,051	-1,011	-1,181	-1,319
EBT Excluding Unusual Items	7,236	6,506	-3,112	8,275	6,771	6,220
Merger & Restructuring Charges	-136	-54	-26	-150	-	-
Pretax Income	7,100	6,452	-3,138	8,125	6,771	6,220
Income Tax Expense	1,128	845	-1,159	1,213	1,195	718
Earnings From Continuing Ops.	5,972	5,607	-1,979	6,912	5,576	5,502
Minority Interest in Earnings	-264	-144	-121	-255	-250	-233
Net Income	5,708	5,463	-2,100	6,657	5,326	5,269
Preferred Dividends & Other Adjustments	611	663	93	-233	-374	-161
Net Income to Common	5,097	4,800	-2,193	6,890	5,700	5,430
Net Income Growth	24.33%	-	-	24.99%	1.08%	12.75%
Shares Outstanding (Basic)	1,795	1,834	1,910	1,942	1,941	1,958
Shares Outstanding (Diluted)	1,801	1,838	1,913	1,946	1,943	1,962
Shares Change (YoY)	-2.87%	-3.92%	-1.70%	0.15%	-0.97%	-1.31%
EPS (Basic)	2.84	2.62	-1.15	3.55	2.94	2.77
EPS (Diluted)	2.82	2.61	-1.15	3.54	2.93	2.77
EPS Growth	28.88%	-	-	20.82%	5.78%	18.88%
Free Cash Flow	25,534	20,423	16,628	23,155	20,048	20,542
Free Cash Flow Per Share	14.18	11.11	8.69	11.90	10.32	10.47
Dividend Per Share	1.565	1.460	1.320	1.120	1.120	1.000
Dividend Growth	9.82%	10.61%	17.86%	0%	12.00%	9.89%
Operating Margin	29.54%	29.58%	-12.19%	15.52%	10.31%	9.69%
Profit Margin	16.94%	17.62%	-12.97%	11.51%	7.39%	6.98%
Free Cash Flow Margin	84.88%	74.96%	98.33%	38.69%	26.00%	26.40%
EBITDA	-	8,363	-1,758	9,667	8,419	7,997
EBITDA Margin	-	30.69%	-10.40%	16.15%	10.92%	10.28%
D&A For EBITDA	-	303	303	381	467	458
EBIT	8,887	8,060	-2,061	9,286	7,952	7,539
EBIT Margin	29.54%	29.58%	-12.19%	15.52%	10.31%	9.69%
Effective Tax Rate	15.89%	13.10%	-	14.93%	17.65%	11.54%
Revenue as Reported	-	-	-	61,821	78,908	79,570

Source: S&P Capital IQ. Insurance template. Financial Sources.