Manulife Financial Corporation (MFC)

Manulife Financial Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Premiums Earned	29,217	28,888	26,592	23,972	23,118	78,130
Investment Income	43,196	42,961	37,360	34,201	15,541	27,251
Net Gains on Investments	5,883	6,275	2,210	3,138	-13,646	-4,003
Total Other Revenues	8,073	8,129	7,588	6,746	6,186	11,132
Revenue	86,369	86,253	73,750	68,057	31,199	61,821
Revenue Growth (YoY)	20.97%	16.95%	8.37%	118.14%	-49.53%	-21.65%
Insurance Benefits & Claims	24,570	24,362	22,591	19,995	19,958	70,136
Policy Amortization Costs	1,559	1,539	1,480	1,345	1,333	6,638
Investment Expense	1,319	1,342	1,348	1,297	1,221	1,980
Other Operating Expenses	4,950	4,901	4,859	4,330	3,731	8,245
Operating Income	53,971	54,109	43,472	41,090	4,956	-25,178
Interest Expense	-1,540	-1,530	-1,681	-1,554	-1,051	-1,011
Other Non-Operating Income (Expense)	-20,690	-21,538	-15,590	-15,063	-6,706	-
Total Non-Operating Income (Expense)	-22,230	-23,068	-17,271	-16,617	-7,757	-1,011
Pretax Income	7,861	7,094	7,090	6,452	-3,138	8,125
Provision for Income Taxes	1,188	1,034	1,212	845	-1,159	1,213
Net Income	5,912	5,251	5,074	4,800	-2,193	6,890
Minority Interest in Earnings	439	488	493	504	-46	-193
Net Income Attributable to Preferred Dividends	322	321	311	303	260	215
Net Income to Common	5,912	5,251	5,074	4,800	-2,193	6,890
Net Income Growth	26.03%	3.49%	5.71%	-	-	20.88%
Shares Outstanding (Basic)	1,672	1,703	1,779	1,834	1,910	1,942
Shares Outstanding (Diluted)	1,672	1,708	1,785	1,838	1,913	1,946
Shares Change (YoY)	-5.27%	-4.31%	-2.88%	-3.92%	-1.70%	0.15%
EPS (Basic)	3.54	3.08	2.85	2.62	-1.15	3.55
EPS (Diluted)	3.54	3.07	2.84	2.61	-1.15	3.54
EPS Growth	32.93%	8.10%	8.81%	-	-	20.82%
Shares Outstanding	1,672	1,677	1,729	1,806	1,865	1,943
Free Cash Flow	28,771	32,105	26,494	20,423	16,628	23,155
Free Cash Flow Growth	-10.38%	21.18%	29.73%	22.82%	-28.19%	15.50%
Free Cash Flow Per Share	17.21	18.80	14.84	11.11	8.69	11.90
Dividends Per Share	1.805	1.760	1.600	1.460	1.320	1.120
Dividend Growth	2.56%	10.00%	9.59%	10.61%	17.86%	-
Operating Margin	62.49%	62.73%	58.95%	60.38%	15.89%	-40.73%
Profit Margin	7.73%	7.03%	7.97%	8.24%	-6.34%	11.18%
FCF Margin	33.31%	37.22%	35.92%	30.01%	53.30%	37.45%
EBITDA	53,971	54,109	43,472	41,090	4,956	-25,178
EBIT	53,971	54,109	43,472	41,090	4,956	-25,178
EBIT Margin	62.49%	62.73%	58.95%	60.38%	15.89%	-40.73%
Effective Tax Rate	15.11%	14.58%	17.09%	13.10%	36.93%	14.93%

Updated May 13, 2026. Data Source: Fiscal.ai. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q