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Manulife Financial is one of the Big Three Canadian life insurers. The firm provides life insurance, annuities, and asset management products to individuals and group customers in Canada, the United States, and Asia. The Canadian business segment contributes approximately 22% of adjusted earnings. The Asia segment operates across 12 countries and contributes around 36% of earnings, with a significant presence in Hong Kong and Singapore. The US business, which primarily operates under the John Hancock brand, contributes about 23% of earnings and is one of the top 20 life insurers in the US. Manulife’s global asset and wealth management business contributes approximately 20% of its earnings and had around CAD 1.03 trillion in assets under management and administration as of the end of 2024.
1999
38K+
LTM Revenue $22.0B
LTM EBITDA $4.5B
$51.4B
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As of August 2025, Manulife reported last 12-month revenue of $22.0B and EBITDA of $4.5B.
In the same period, Manulife achieved $5.0B in LTM net income.
See Manulife valuation multiples based on analyst estimatesIn the most recent fiscal year, Manulife reported revenue of $32.9B.
Manulife expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Manulife valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $22.0B | XXX | $32.9B | XXX | XXX | XXX |
| Gross Profit | n/a | XXX | n/a | XXX | XXX | XXX |
| Gross Margin | n/a | XXX | n/a | XXX | XXX | XXX |
| EBITDA | $4.5B | XXX | n/a | XXX | XXX | XXX |
| EBITDA Margin | 21% | XXX | n/a | XXX | XXX | XXX |
| EBIT | $5.2B | XXX | n/a | XXX | XXX | XXX |
| EBIT Margin | 23% | XXX | n/a | XXX | XXX | XXX |
| Net Profit | $5.0B | XXX | $4.1B | XXX | XXX | XXX |
| Net Margin | 23% | XXX | 12% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
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Manulife has current market cap of CAD 75.0B (or $54.2B), and EV of CAD 71.1B (or $51.4B).
As of September 12, 2025, Manulife's stock price is CAD 44 (or $32).
See Manulife trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $51.4B | $54.2B | XXX | XXX | XXX | XXX | $2.86 |
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Start Free TrialManulife's trades at 1.6x EV/Revenue multiple, and n/a EV/EBITDA.
See valuation multiples for Manulife and 15K+ public compsAs of September 12, 2025, Manulife has market cap of $54.2B and EV of $51.4B.
Equity research analysts estimate Manulife's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Manulife has a P/E ratio of 10.7x.
| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $54.2B | XXX | $54.2B | XXX | XXX | XXX |
| EV (current) | $51.4B | XXX | $51.4B | XXX | XXX | XXX |
| EV/Revenue | 2.3x | XXX | 1.6x | XXX | XXX | XXX |
| EV/EBITDA | 11.3x | XXX | n/a | XXX | XXX | XXX |
| EV/EBIT | 9.9x | XXX | n/a | XXX | XXX | XXX |
| EV/Gross Profit | n/a | XXX | n/a | XXX | XXX | XXX |
| P/E | 10.7x | XXX | 13.3x | XXX | XXX | XXX |
| EV/FCF | n/a | XXX | 2.7x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialManulife's last 12 month revenue growth is 20%
Manulife's revenue per employee in the last FY averaged $0.9M, while opex per employee averaged n/a for the same period.
Manulife's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Manulife's rule of X is 70% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Manulife and other 15K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 20% | XXX | -9% | XXX | XXX | XXX |
| EBITDA Margin | 21% | XXX | n/a | XXX | XXX | XXX |
| EBITDA Growth | -8% | XXX | n/a | XXX | XXX | XXX |
| Rule of 40 | n/a | XXX | n/a | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 70% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.9M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | n/a | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
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| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| ADNIC | XXX | XXX | XXX | XXX | XXX | XXX |
| Aegon | XXX | XXX | XXX | XXX | XXX | XXX |
| ASR Nederland | XXX | XXX | XXX | XXX | XXX | XXX |
| NN Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Challenger | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Manulife acquired XXX companies to date.
Last acquisition by Manulife was XXXXXXXX, XXXXX XXXXX XXXXXX . Manulife acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Start Free Trial| When was Manulife founded? | Manulife was founded in 1999. |
| Where is Manulife headquartered? | Manulife is headquartered in Canada. |
| How many employees does Manulife have? | As of today, Manulife has 38K+ employees. |
| Who is the CEO of Manulife? | Manulife's CEO is Mr. Paul R. Lorentz. |
| Is Manulife publicy listed? | Yes, Manulife is a public company listed on TSE. |
| What is the stock symbol of Manulife? | Manulife trades under MFC ticker. |
| When did Manulife go public? | Manulife went public in 1999. |
| Who are competitors of Manulife? | Similar companies to Manulife include e.g. ADNIC, Aegon, ASR Nederland, NN Group. |
| What is the current market cap of Manulife? | Manulife's current market cap is $54.2B |
| What is the current revenue of Manulife? | Manulife's last 12 months revenue is $22.0B. |
| What is the current revenue growth of Manulife? | Manulife revenue growth (NTM/LTM) is 20%. |
| What is the current EV/Revenue multiple of Manulife? | Current revenue multiple of Manulife is 2.3x. |
| Is Manulife profitable? | Yes, Manulife is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Manulife? | Manulife's last 12 months EBITDA is $4.5B. |
| What is Manulife's EBITDA margin? | Manulife's last 12 months EBITDA margin is 21%. |
| What is the current EV/EBITDA multiple of Manulife? | Current EBITDA multiple of Manulife is 11.3x. |
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