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Manulife Financial Corp (MFC) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · INSURANCE - LIFE · DATA UPDATED 2026-09-19

Manulife Financial Corp (MFC) operates in the INSURANCE - LIFE industry and is headquartered in Toronto, Canada with about 37,000 employees. Its market capitalization is roughly $74 billion. In the fiscal year ended 2025-12-31, MFC reported C$53.0B in revenue and C$5.8B in net income.

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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MFC Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2026-03-312025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-31
Total RevenueC$79.3BC$53.0B(C$7.3B)(C$7.0B)C$24.2BC$59.8BC$77.1BC$77.8BC$37.3BC$56.6BC$51.7BC$32.8BC$53.1BC$17.5BC$28.1BC$50.0BC$37.6BC$40.1BC$33.0BC$35.5BC$34.2B
Gross ProfitC$26.5BC$13.5BC$13.6BC$10.7BC$1.6BC$18.6BC$17.3BC$17.1BC$17.0BC$12.3BC$12.8BC$11.4BC$11.5BC$10.8BC$7.5BC$7.2BC$10.0BC$10.0BC$10.8BC$35.5BC$17.5B
Gross Margin %33.3%25.5%-187.0%-151.8%6.8%31.1%22.4%21.9%45.5%21.7%24.9%34.8%21.7%61.9%26.6%14.3%26.7%25.0%32.7%100.0%51.2%
Operating Income (EBIT)C$7.9BC$7.1BC$7.1BC$6.5B(C$3.1B)C$8.1BC$6.8BC$6.2BC$5.5BC$2.5BC$3.3BC$2.6BC$4.3BC$3.7BC$1.2BC$148M(C$2.3B)(C$152M)C$577MC$6.6BC$5.3B
Operating Margin %9.9%13.4%-97.3%-91.7%-13.0%13.6%8.8%8.0%14.8%4.4%6.4%8.0%8.0%21.4%4.4%0.3%-6.2%-0.4%1.8%18.7%15.6%
Net IncomeC$6.4BC$5.8BC$5.6BC$5.5B(C$2.1B)C$6.7BC$5.3BC$5.3BC$4.7BC$2.1BC$3.0BC$2.2BC$3.5BC$3.1BC$1.7BC$218M(C$1.7B)C$1.4BC$517MC$4.2BC$4.0B
Net Margin %8.1%10.9%-77.3%-77.6%-8.7%11.1%6.9%6.8%12.5%3.6%5.8%6.8%6.6%17.8%6.1%0.4%-4.4%3.5%1.6%11.9%11.6%
EBITDAC$9.0BC$9.5BC$7.3BC$8.6B(C$3.6B)C$9.7BC$8.6BC$8.2BC$7.5BC$4.2BC$5.0BC$4.3BC$5.9BC$5.2BC$2.6BC$1.7B(C$965M)C$1.5BC$2.0BC$7.0BC$6.5B
Earnings Per Share (EPS)C$3.76C$3.39C$3.15C$2.97C$-1.10C$3.42C$2.74C$2.69C$2.35C$1.04C$1.51C$1.12C$1.87C$1.66C$0.91C$0.12C$-0.88C$0.75C$0.28C$2.25C$2.11
Shares Outstanding (M)1,708M1,708M1,785M1,838M1,910M1,946M1,943M1,962M1,988M1,986M1,977M1,976M1,880M1,880M1,880M1,880M1,880M1,880M1,880M1,880M1,880M

CAD; C$M / C$B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MFC Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Total RevenueC$19.7BC$12.3BC$8.6BC$17.3BC$41.1BC$9.0BC$4.2BC$14.6BC$18.5B
Gross Profit—C$12.3BC$6.5BC$3.8BC$3.8BC$2.3BC$3.9BC$26.9BC$3.0B
Gross Margin %—100.0%76.0%22.2%9.1%25.2%91.5%184.3%16.4%
Operating Income (EBIT)—C$1.5BC$1.9BC$2.2BC$2.3BC$699MC$2.1BC$2.3BC$1.4B
Operating Margin %—11.9%22.1%12.9%5.5%7.7%50.1%16.1%7.5%
Net IncomeC$2.2BC$1.2BC$1.6BC$1.8BC$1.9BC$557MC$1.7BC$1.9BC$1.1B
Net Margin %11.1%9.7%18.1%10.3%4.6%6.2%40.0%13.3%5.9%
EBITDA—C$2.1BC$2.5BC$2.1BC$2.2BC$650MC$2.3BC$2.3BC$1.4B
Earnings Per Share (EPS)C$1.20C$0.70C$0.91C$1.05C$1.09C$0.32C$0.95C$1.09C$0.61
Shares Outstanding (M)—1,708M1,708M1,701M1,715M1,729M1,780M1,780M1,799M

CAD; C$M / C$B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MFC Free Cash Flow History

Cash flowTTM → 2026-03-312025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-31
Cash from Operations (CFO)C$29.0BC$32.1BC$26.5BC$20.4BC$17.7BC$23.2BC$20.0BC$20.5BC$19.2BC$17.8BC$17.0BC$10.3BC$10.8BC$9.7BC$11.1BC$10.9BC$11.6BC$12.0BC$7.9BC$7.5BC$6.7B
Capital Expenditures (CapEx)C$0MC$0MC$0MC$13.8BC$18.2BC$24.2BC$0MC$80.6BC$0MC$0MC$0MC$0MC$0MC$0MC$0MC$0MC$55.1BC$0MC$0MC$0MC$0M
Free Cash Flow (FCF)C$29.0BC$32.1BC$26.5BC$6.7B(C$467M)(C$1.1B)C$20.0B(C$60.1B)C$19.2BC$17.8BC$17.0BC$10.3BC$10.8BC$9.7BC$11.1BC$10.9B(C$43.5B)C$12.0BC$7.9BC$7.5BC$6.7B
FCF Margin %36.5%60.5%-363.5%-94.8%-1.9%-1.8%26.0%-77.2%51.5%31.4%33.0%31.5%20.4%55.5%39.5%21.7%-115.6%30.0%24.0%21.0%19.5%
Dividends PaidC$3.4BC$3.3BC$3.2BC$3.0BC$2.8BC$2.5BC$2.3BC$1.4BC$1.8BC$1.8BC$1.6BC$1.4BC$910MC$761MC$733MC$717MC$691MC$1.1BC$1.5BC$1.4BC$1.2B

CAD; C$M / C$B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MFC Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Cash from Operations (CFO)C$9.1BC$3.5BC$8.6BC$9.5BC$7.3BC$6.7BC$7.1BC$7.5BC$7.3B
Free Cash Flow (FCF)C$9.1BC$3.5BC$8.6BC$9.5BC$7.3BC$6.7BC$7.1BC$7.5BC$7.3B
FCF Margin %46.1%28.8%99.9%55.1%17.7%74.0%169.0%51.6%39.4%
Dividends Paid—C$864MC$842MC$804MC$856MC$802MC$799MC$766MC$817M

CAD; C$M / C$B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MFC Balance Sheet History

Balance sheet2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-31
Total AssetsC$1.09TC$1.02TC$978.8BC$875.6BC$848.9BC$917.6BC$880.3BC$809.1BC$750.3BC$729.5BC$720.7BC$704.6BC$579.4BC$513.6BC$485.0BC$462.0BC$424.8BC$205.1BC$211.0BC$176.5BC$186.2B
Cash & Cash EquivalentsC$27.5BC$14.9BC$25.8BC$20.3BC$19.2BC$22.6BC$26.2BC$20.3BC$16.2BC$16.0BC$15.2BC$17.9BC$21.1BC$13.6BC$13.4BC$12.8BC$11.8BC$18.8BC$12.4BC$12.4BC$10.9B
Total LiabilitiesC$1.04TC$972.2BC$925.9BC$826.8BC$792.6BC$881.3BC$16.6BC$13.6BC$703.1BC$687.4BC$677.9BC$662.7BC$545.5BC$484.6BC$460.0BC$437.2BC$190.8BC$176.9BC$183.6BC$152.0BC$160.3B
Total Debt (Short + Long-Term)C$14.1BC$14.7BC$14.2BC$12.7BC$13.0BC$11.9BC$15.0BC$12.3BC$13.5BC$13.6BC$12.9BC$9.7BC$8.0BC$24.2BC$8.7BC$9.3BC$10.7BC$9.8BC$9.1BC$8.5BC$10.1B
Total Shareholders' EquityC$53.3BC$51.0BC$51.5BC$47.3BC$56.4BC$57.2BC$863.7BC$795.5BC$46.1BC$42.2BC$42.8BC$41.9BC$33.5BC$28.7BC$25.6BC$24.5BC$26.7BC$28.8BC$27.4BC$24.5BC$25.7B

CAD; C$M / C$B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive MFC viewer.

MFC Metric Deep Dives

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