Sun Life Financial Inc. (SLF) 10-Year Financial Performance & Capital Metrics

SLF • • Insurance & Managed Care

Financial ServicesDiversified InsuranceRetirement & Wealth SolutionsRetirement & Annuity Specialists

AboutSun Life Financial Inc., a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services. It distributes its products through direct sales agents, managing and independent general agents, financial intermediaries, broker-dealers, banks, pension and benefits consultants, and other third-party marketing organizations. The company was founded in 1871 and is headquartered in Toronto, Canada.Show more

Revenue $34.48B -5.1%
Combined Ratio 87.42% -2.0%
Net Income $3.17B -5.1%
Return on Equity 12.6% -11.3%
Medical Cost Ratio 85.96% -2.5%
Operating Margin 12.58% +16.4%
Net Margin 9.2%
ROA 0.9% -11.5%
Equity / Assets 7.05% -2.9%
Book Value per Share 44.97 +9.5%
Tangible BV/Share 19.99 +17.1%
Debt/Equity 0.65 +1.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Profitable underwriting: 87.4% combined ratio
✓Healthy dividend yield of 5.4%
✓Trading at only 1.4x book value

✗Weaknesses

✗High loss ratio of 86.0%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.96%

5Y-2.77%

3Y-1.14%

TTM-25.81%

Profit (Net Income) CAGR

10Y5.36%

5Y1.5%

3Y-10.14%

TTM-19.74%

EPS CAGR

10Y6.3%

5Y3.72%

3Y-7.6%

TTM-13.91%

ROCE

10Y Avg1.22%

5Y Avg1.22%

3Y Avg1.17%

Latest1.23%

Peer Comparison

Retirement & Annuity Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AEGAegon Ltd.	11.66B	7.75	25.83	50.4%	4.24%	13.27%	6.1%	0.54
PFGPrincipal Financial Group, Inc.	19.82B	90.20	13.50	18.02%	7.53%	9.61%	22.88%	0.36
EQHEquitable Holdings, Inc.	13.68B	47.74	12.63	18.13%	-5.8%	-35.73%	10.86%	1.90
SLFSun Life Financial Inc.	34.63B	62.53	11.87	-5.15%	8.54%	11.91%	6.9%	0.65
BNTBrookfield Wealth Solutions Ltd.	2.88B	48.03	6.81	106.2%	9.16%	7.81%	100%	0.35

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	19.27B	28.57B	29.33B	26.97B	39.68B	43.34B	35.69B	3.43B	36.35B	34.48B
Revenue Growth %	-0.25%	0.48%	0.03%	-0.08%	0.47%	0.09%	-0.18%	-0.9%	9.6%	-0.05%
Medical Costs & Claims+	10.28B	18.14B	19.05B	16.11B	28.5B	30.98B	20.98B	-642M	32.04B	29.64B
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	9B	10.44B	10.28B	10.86B	11.17B	12.35B	14.71B	4.07B	4.31B	4.84B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.13%	0.16%	-0.01%	0.06%	0.03%	0.11%	0.19%	-0.72%	0.06%	0.12%
Operating Expenses+	6.1B	6.99B	7.49B	7.35B	7.94B	9.07B	9.61B	445M	383M	501M
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	166M	203M	209M	226M	378M	406M	438M	528M	0	0
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	2.9B	3.44B	2.79B	3.51B	3.23B	3.29B	5.1B	3.63B	3.93B	4.34B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.22%	0.19%	-0.19%	0.26%	-0.08%	0.02%	0.55%	-0.29%	0.08%	0.1%
EBITDA+	3.06B	3.65B	3B	3.74B	3.61B	3.69B	5.54B	4.15B	4.48B	5B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	322M	316M	303M	305M	333M	355M	327M	328.28M	552M	664M
Non-Operating Income	-322M	-316M	-303M	-305M	-333M	-355M	-327M	-445M	-552M	-664M
Pretax Income+	2.9B	3.44B	2.79B	3.51B	3.23B	3.29B	5.1B	3.63B	3.93B	4.34B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	599M	619M	302M	597M	286M	495M	727M	546M	461M	1.04B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	2.3B	2.83B	2.49B	2.91B	2.94B	2.78B	4.37B	3.02B	3.34B	3.17B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.22%	0.23%	-0.12%	0.17%	0.01%	-0.06%	0.57%	-0.31%	0.11%	-0.05%
EPS (Diluted)+	3.55	4.03	3.49	4.77	4.39	4.08	6.68	4.89	5.24	5.27
EPS Growth %	0.24%	0.14%	-0.13%	0.37%	-0.08%	-0.07%	0.64%	-0.27%	0.07%	0.01%
EPS (Basic)	3.57	4.05	3.51	4.81	4.42	4.11	6.73	4.90	5.13	5.29
Diluted Shares Outstanding	615.49M	619M	615.76M	611M	597M	589M	590M	589M	589M	581M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	246.85B	258.24B	269.11B	271.83B	297.2B	323.01B	345.37B	323.61B	333.24B	370.72B
Asset Growth %	0.11%	0.05%	0.04%	0.01%	0.09%	0.09%	0.07%	-0.06%	0.03%	0.11%
Total Investment Assets+	78.32B	135.65B	82.79B	144.43B	154.9B	167.26B	97.84B	159.41B	163.16B	179.69B
Long-Term Investments	78.32B	83.54B	82.79B	86.11B	89.25B	98.59B	97.84B	95.96B	96.65B	110.81B
Short-Term Investments	0	1.94B	0	2.21B	16.89B	14.39B	0	18.39B	16.38B	17.67B
Total Current Assets+	10.89B	11.44B	10.99B	11.52B	0	0	14.55B	0	0	0
Cash & Equivalents	8.98B	6.7B	8.89B	7.3B	6.71B	10.65B	12.28B	9.38B	11.17B	10.13B
Receivables	0	0	0	0	1000K	1000K	0	1000K	1000K	1000K
Other Current Assets	0	0	0	0	-25.88B	-27.18B	0	-31.25B	-31.1B	-31.88B
Goodwill & Intangibles+	6.13B	7.02B	6.85B	7.19B	7.92B	8.55B	9.89B	13.43B	14.14B	14.51B
Goodwill	4.65B	5.32B	5.18B	5.41B	5.83B	6.07B	6.52B	8.71B	8.97B	9.46B
Intangible Assets	1.48B	1.7B	1.67B	1.78B	2.08B	2.48B	3.37B	4.72B	5.17B	5.06B
PP&E (Net)	636M	659M	624M	621M	1.4B	1.39B	1.31B	1.36B	1.45B	1.4B
Other Assets	-1.37B	-1.45B	-1.29B	-89.1B	-98.57B	-108.54B	-1.85B	-110.75B	-112.25B	-126.72B
Total Liabilities	225.44B	235.87B	246.14B	247.26B	272.69B	297.15B	317.3B	300.72B	309.04B	344.59B
Total Debt+	4.74B	7.63B	4.74B	6.7B	9.04B	8.8B	10.21B	15.55B	15.4B	16.87B
Net Debt	-4.24B	934M	-4.15B	-602M	2.33B	-1.85B	-2.07B	6.17B	4.23B	6.74B
Long-Term Debt	7.75B	7.44B	6.87B	6.59B	8.04B	7.59B	9.63B	12.25B	12.08B	13.62B
Short-Term Debt	166M	189M	0	104M	103M	344M	574M	2.35B	2.33B	2.3B
Total Current Liabilities+	2.64B	2.93B	2.11B	2.15B	0	0	2.44B	0	0	0
Accounts Payable	2.47B	2.74B	1.97B	2.04B	1.83B	2.44B	1.87B	2.35B	2.49B	2.56B
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	-5.46B	-5.81B	-4.9B	-5.29B	-5.18B	-6.5B	-6.71B	-8.7B	-9.26B	-9.76B
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	-8.15B	-8.13B	-7.27B	-6.91B	-9.35B	-8.84B	306.81B	-13.67B	-13.35B	-14.85B
Total Equity+	21.42B	22.37B	22.97B	24.57B	24.51B	25.86B	28.07B	22.89B	24.2B	26.13B
Equity Growth %	0.13%	0.04%	0.03%	0.07%	-0%	0.06%	0.09%	-0.18%	0.06%	0.08%
Shareholders Equity	21.42B	21.96B	22.32B	23.71B	24.49B	25.84B	26.31B	22.8B	24.04B	26.05B
Minority Interest	0	412M	650M	864M	19M	25M	1.76B	90M	161M	76M
Retained Earnings	10.52B	9.36B	11.41B	11.27B	11.32B	12.29B	15.7B	11.73B	12.16B	12.6B
Common Stock	10.9B	8.61B	10.91B	8.42B	8.29B	8.26B	10.62B	8.31B	8.33B	8.19B
Accumulated OCI	2.46B	1.65B	1.1B	1.69B	1.46B	1.59B	986M	160M	765M	2.43B
Return on Equity (ROE)	0.11%	0.13%	0.11%	0.12%	0.12%	0.11%	0.16%	0.12%	0.14%	0.13%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	0.22x	0.34x	0.21x	0.27x	0.37x	0.34x	0.36x	0.68x	0.64x	0.65x
Book Value per Share	34.80	36.14	37.31	40.21	41.05	43.91	47.58	38.86	41.09	44.97
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	4.46B	3.67B	1.98B	3.83B	2.47B	9.79B	-1.86B	4.31B	7.82B	2.53B
Operating CF Growth %	1.47%	-0.18%	-0.46%	0.93%	-0.35%	2.96%	-1.19%	3.32%	0.81%	-0.68%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	2.9B	3.44B	2.79B	3.51B	2.71B	1.96B	5.1B	3.92B	2.39B	4.34B
Depreciation & Amortization	166M	203M	209M	226M	378M	0	0	528M	0	0
Stock-Based Compensation	348M	362M	476M	346M	549M	0	0	395M	0	0
Deferred Taxes	0	0	0	0	0	0	0	-395M	0	0
Other Non-Cash Items	881M	-5.48B	-7.2B	-281M	-12.57B	-5.66B	-9.46B	12.03B	64.89M	-4.2B
Working Capital Changes	515M	5.5B	6.19B	378M	11.4B	13.48B	2.5B	-12.16B	5.36B	2.39B
Cash from Investing+	-723M	-1.89B	-339M	-280M	-430M	-4.95B	-803M	-2.86B	-4.35B	-337M
Capital Expenditures	-106M	-131M	-182M	-85M	-114M	-124.02M	-81M	3.69B	-129.77M	-143M
Acquisitions	-581M	-1.68B	-182M	-64M	-167M	-372.06M	-441M	-2.7B	-146.37M	-17M
Purchase of Investments	-46.66B	-50.15B	-60.75B	-65.42B	0	-64.14B	0	-57.22B	-36.71B	0
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	0	1000K	0	1000K	1000K	0
Other Investing	-36M	-80M	25M	-131M	-149M	-225.27M	-281M	-161M	-152.41M	-177M
Cash from Financing+	-1.11B	-1.54B	-2.02B	-2.57B	-2.36B	-1.65B	-260M	-71M	-1.98B	-3.88B
Dividends Paid	-921M	-1.07B	-1.16B	-1.23B	-1.32B	-1.07B	-1.43B	-1.67B	-1.42B	-1.96B
Share Repurchases	-212M	-950M	-175M	-641M	-592M	-156.99M	0	-6M	-140.34M	-855M
Stock Issued	0	39M	0	0	0	14.13M	0	6M	36.97M	0
Debt Issuance (Net)	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K	-1000K
Other Financing	-253M	659M	543M	-258M	-230M	-106.75M	-132M	-262M	-132.79M	-569M
Net Change in Cash+	3.15B	-3M	-553M	1.24B	-509M	3.23B	-2.96B	1.68B	1.51B	-1.22B
Exchange Rate Effect	1000K	-1000K	-1000K	1000K	-1000K	1000K	-1000K	1000K	1000K	1000K
Cash at Beginning	3.36B	6.51B	6.51B	5.96B	7.19B	7.38B	10.65B	7.69B	6.92B	11.17B
Cash at End	6.51B	6.51B	5.96B	7.19B	6.68B	10.62B	7.69B	9.37B	8.43B	9.95B
Free Cash Flow+	4.36B	3.54B	1.8B	3.75B	2.36B	9.66B	-1.94B	8B	7.69B	2.39B
FCF Growth %	1.41%	-0.19%	-0.49%	1.08%	-0.37%	3.09%	-1.2%	5.13%	-0.04%	-0.69%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	7.08	5.71	2.93	6.14	3.95	16.4	-3.28	13.58	13.05	4.11

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	84.96%	87.94%	90.49%	86.98%	91.85%	92.42%	85.72%	-5.75%	89.19%	87.42%
Medical Cost Ratio	53.32%	63.48%	64.95%	59.74%	71.84%	71.5%	58.78%	-18.72%	88.14%	85.96%
Return on Equity (ROE)	11.42%	12.91%	10.97%	12.26%	11.99%	11.04%	16.2%	11.87%	14.2%	12.6%
Return on Assets (ROA)	0.98%	1.12%	0.94%	1.08%	1.03%	0.9%	1.31%	0.9%	1.02%	0.9%
Equity / Assets	8.68%	8.66%	8.54%	9.04%	8.25%	8.01%	8.13%	7.07%	7.26%	7.05%
Book Value / Share	34.8	36.14	37.31	40.21	41.05	43.91	47.58	38.86	41.09	44.97
Debt / Equity	0.22x	0.34x	0.21x	0.27x	0.37x	0.34x	0.36x	0.68x	0.64x	0.65x
Revenue Growth	-25.19%	48.25%	2.66%	-8.06%	47.13%	9.22%	-17.65%	-90.39%	960.19%	-5.15%

Frequently Asked Questions

Valuation & Price

Sun Life Financial Inc. (SLF) has a price-to-earnings (P/E) ratio of 11.9x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Sun Life Financial Inc. (SLF) saw revenue decline by 5.1% over the past year.

Yes, Sun Life Financial Inc. (SLF) is profitable, generating $3.09B in net income for fiscal year 2024 (9.2% net margin).

Dividend & Returns

Yes, Sun Life Financial Inc. (SLF) pays a dividend with a yield of 5.40%. This makes it attractive for income-focused investors.

Sun Life Financial Inc. (SLF) has a return on equity (ROE) of 12.6%. This is reasonable for most industries.

Industry Metrics

Sun Life Financial Inc. (SLF) has a combined ratio of 87.4%. A ratio below 100% indicates underwriting profitability.

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