MFC financial statements
The full income statement, balance sheet, and cash-flow statement for Manulife Financial Corporation (MFC), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 5.82B YoY+5.1% | 5.54B YoY+10.7% | 5.00B YoY+5.2% | 4.75B YoY-90.4% | 49.3B YoY-16.2% | |
| Pre-tax income | 5.08B YoY-1.8% | 5.17B YoY+8.2% | 4.78B YoY+298.3% | -2.41B YoY-137.2% | 6.48B YoY+28.4% | |
| Income tax | 740M YoY-16.3% | 884M YoY+41.2% | 626M YoY+170.3% | -890M YoY-192.0% | 968M YoY+8.6% | |
4.34B YoY+1.1% | 4.29B YoY+3.2% | 4.15B YoY+373.3% | -1.52B YoY-127.6% | 5.52B YoY+32.6% | ||
$2.20 YoY+6.1% | $2.07 YoY+7.1% | $1.93 YoY+318.9% | -$0.88 YoY-131.3% | $2.82 YoY+29.3% | ||
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 19.5B YoY+8.6% | 18.0B YoY+16.9% | 15.4B YoY+8.6% | 14.2B YoY-20.2% | 17.7B YoY-13.5% | |
749B YoY+9.8% | 682B YoY+3.1% | 661B YoY+7.4% | 616B YoY-14.5% | 720B YoY+4.4% | ||
710B YoY+10.2% | 645B YoY+3.2% | 625B YoY+7.6% | 580B YoY-13.9% | 674B YoY+3.9% | ||
36.6B YoY+3.1% | 35.5B YoY-0.1% | 35.5B YoY+2.6% | 34.6B YoY-24.5% | 45.8B YoY+11.8% | ||
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
23.0B YoY+18.9% | 19.3B YoY+27.7% | 15.1B YoY+18.5% | 12.8B YoY-30.9% | 18.5B YoY+23.6% | ||
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt issued | 991M | 0.00 YoY-100.0% | 885M YoY+21.7% | 727M | 0.00 YoY-100.0% | |
| Long-term debt repaid | 716M YoY-48.0% | 1.38B YoY+209.5% | 445M YoY-42.1% | 768M YoY+17.7% | 653M YoY-30.0% | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 2.37B YoY+2.6% | 2.30B YoY+4.6% | 2.20B YoY+2.9% | 2.14B YoY+7.3% | 1.99B YoY+14.3% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 62.0B YoY+13.0% | 54.8B YoY+29.7% | 42.3B YoY+21.8% | 34.7B YoY-6.4% | 37.1B YoY+7.2% | |
| P/E | 14.3× YoY+11.8% | 12.8× | — | 6.3× YoY-6.4% | 6.7× YoY-19.2% | |
| P/S | 10.7× YoY+7.6% | 9.9× YoY+11.3% | 8.9× YoY+1164.0% | 0.7× YoY-6.4% | 0.8× YoY+27.9% | |
| P/B | 1.7× YoY+9.7% | 1.5× YoY+26.5% | 1.2× YoY+61.2% | 0.8× YoY-6.4% | 0.8× YoY-4.1% | |
7.0% YoY-10.5% | 7.8% | — | 15.9% YoY+6.9% | 14.9% YoY+23.7% | ||
3.5% YoY-8.6% | 3.8% YoY-22.4% | 4.9% YoY-13.9% | 5.7% YoY+16.1% | 4.9% YoY+4.4% | ||
| Source filing | 40-F | 40-F | 40-F | 40-F | 40-F |
About this data
Source: MFC's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MFC filings on SEC EDGAR → Not investment advice.