Manulife Financial Corp (MFC) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Manulife Financial Corp $27.59, price $43.60, upside -36.7%, quality 71 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Manulife Financial Corp
MFC · USStretched ValuationStrong overvaluation with only moderate quality.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 25, 2026.
How to read this chart
60‑month range $12.91 – $44.77 · fair‑value band $20.05 – $41.57 · the $43.60 price screens above the $27.59 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 25, 2026.
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Company profile
Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. It operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments.
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Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. It operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks. The Insurance and Annuity Products segment provides deposit and credit products; and individual life insurance, individual and group long-term care insurance, and guaranteed and partially guaranteed annuity products through multiple distribution channels, including insurance agents, brokers, banks, financial planners, and direct marketing. The Corporate and Other segment is involved in the property and casualty reinsurance businesses; and run-off reinsurance operations, including variable annuities, and accident and health. The company also manages timberland and agricultural portfolios; and engages in the insurance agency, broker dealer, investment counseling, portfolio and mutual fund management, property and casualty insurance, and fund and investment management businesses. In addition, it provides integrated banking products and services, as well as offers asset management services. The company was incorporated in 1887 and is headquartered in Toronto, Canada.
Stock analysis
Manulife Financial Corp (MFC) currently trades at $43.60, while our model-based Fair Value estimate is $27.59, implying the stock looks roughly 58.0% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $42.83 per share, and 1 of the 6 models we run sit above the $43.60 price.
Bear case: the Asset-Based group reads lowest at $20.50, and 5 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: $20.05 (bear) to $41.57 (bull), the price of $43.60 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 71/100 (solid quality), in the Financial Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Manulife Financial Corp reported revenue of C$53.0B in FY2025 versus C$59.8B in FY2021, a compound −3.0%/yr. Reported net income was C$5.8B in FY2025, compounding −3.5%/yr from FY2021.
Key figures
Market cap $74.5B · P/E ratio 17.6 · P/S ratio 1.92 · EPS (TTM) $2.48 · Dividend yield 4.1% · Net margin 10.9% · Return on equity 12.6% · Return on assets (EBIT) 0.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades about 3% below its 52-week high and 46% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −35% fair-value upside, at −37%, MFC screens richer than that median.
Fair Value models
All 6 models by family
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Set up alert →Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 79
Revenue & earnings trend
Growth Forecast
MFC screens 58% overvalued. Compare with China Life Insurance Company →
Compare Manulife Financial Corp with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Insurance - Life · 95 stocks
Valuation Multiplesvs Insurance - Life median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Insurance - Life stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Life Insurance Company 601628 | ¥38.60 | ¥49.98 | +29% |
| Ping An Insurance (Group) Company 601318 | ¥53.87 | ¥66.20 | +23% |
| AIA Group 1299 | HK$75.35 | HK$41.68 | −45% |
| Aflac Incorporated AFL | $115.23 | $67.96 | −41% |
| MetLife, Inc MET | $97.20 | $53.26 | −45% |
| Great-West Lifeco Inc GWO | C$92.75 | C$41.81 | −55% |
| Life Insurance Corporation LICI | ₹407.50 | ₹392.93 | −4% |
| Cathay Financial Holding 2882 | 110.50 TWD | 72.33 TWD | −35% |
| China Pacific Insurance (Group) Co 601601 | ¥31.61 | ¥49.71 | +57% |
| Samsung Life Insurance Co 032830 | 294,500 KRW | 191,293 KRW | −35% |
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Key figures of Manulife Financial Corp
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