Last 48 quarters of trend data · Financial Services · Insurance - Life
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Manulife Financial Corporation's quarterly P/E stands at 13.5x, down 56.8% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 78.7% YoY to 8.4x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 18.57 | 13.45 | 11.06 | 7.63 | 8.15 | 31.15 | 8.93 | 7.39 | 12.80 | 13.88 | 6.42 | 8.79 | 9.46 |
| — | -56.8% | +23.9% | +3.3% | -36.3% | +124.4% | +39.0% | -15.9% | +35.4% | +120.8% | +36.8% | -48.4% | — | |
| P/S Ratio | 1.80 | 1.19 | 1.80 | 0.77 | 0.33 | 1.49 | 3.24 | 0.90 | 0.65 | 0.32 | — | 0.43 | 0.38 |
| — | -19.8% | -44.4% | -15.2% | -48.6% | +363.1% | — | +109.5% | +68.9% | +12.1% | — | +20.8% | — | |
| P/B Ratio | 1.85 | 1.12 | 1.18 | 1.00 | 1.07 | 1.01 | 1.03 | 1.02 | 0.94 | 0.91 | 0.85 | 0.70 | 0.75 |
| — | +11.0% | +14.4% | -1.8% | +13.3% | +11.7% | +21.1% | +45.3% | +25.2% | +28.0% | +23.0% | +32.3% | +26.2% | |
| P/FCF | 2.98 | 4.15 | 1.80 | 1.39 | 1.88 | 2.01 | 1.92 | 1.75 | 1.65 | 2.47 | 1.68 | 1.56 | 1.53 |
| — | +106.0% | -6.0% | -20.6% | +14.4% | -18.5% | +13.8% | +12.1% | +7.3% | -15.4% | +95.8% | -5.7% | -13.2% | |
| EV / EBITDA | 18.11 | 8.39 | 11.03 | 5.81 | 5.99 | 39.37 | 5.61 | 5.67 | 10.31 | 11.53 | 5.05 | 7.50 | 6.17 |
| — | -78.7% | +96.6% | +2.6% | -41.9% | +241.4% | +11.1% | -24.4% | +67.1% | +122.1% | +71.8% | -78.6% | — | |
| EV / EBIT | 13.44 | 7.76 | 6.68 | 3.88 | 4.23 | 9.90 | 4.25 | 3.90 | 5.50 | 5.55 | 3.38 | 3.96 | 3.75 |
| — | -21.6% | +57.3% | -0.6% | -23.1% | +78.4% | +25.8% | -1.4% | +46.5% | +58.0% | +29.0% | -43.8% | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Manulife Financial Corporation's operating margin was 11.9% in Q1 2026, down 10.2 pp QoQ and up 4.2 pp YoY. The trailing four-quarter average of 13.1% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin expanded 296.7% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.5% | 100.0% | 76.0% | 22.2% | 9.1% | 25.2% | 91.5% | 184.3% | 16.4% | 7.9% | -24.2% | 13.2% | 12.3% |
| — | +296.7% | -17.0% | -87.9% | -44.4% | +219.2% | +478.0% | +1296.8% | +34.0% | -25.1% | -170.8% | +61.8% | +194.7% | |
| Operating Margin | 13.4% | 11.9% | 22.1% | 12.9% | 5.5% | 7.7% | 50.1% | 16.1% | 7.5% | 3.6% | -9.6% | 5.9% | 6.2% |
| — | +54.5% | -55.8% | -19.8% | -26.6% | +117.2% | +621.0% | +173.0% | +20.8% | -37.7% | -166.7% | +154.5% | -13.6% | |
| Net Margin | 10.9% | 9.7% | 18.2% | 10.3% | 4.6% | 6.2% | 39.9% | 13.3% | 5.9% | 2.6% | -8.0% | 6.0% | 4.9% |
| — | +57.8% | -54.6% | -22.2% | -23.0% | +136.3% | +600.6% | +120.9% | +19.7% | -42.2% | -160.2% | +222.8% | -15.1% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.0% | 2.3% | 3.0% | 3.4% | 3.6% | 1.0% | 3.2% | 3.8% | 2.2% | 1.9% | 3.6% | 2.5% | 2.4% |
| — | +117.4% | -8.1% | -9.2% | +65.3% | -43.6% | -10.6% | +51.6% | -9.0% | -33.3% | -4.1% | +258.6% | +162.4% | |
| ROA | 0.6% | 0.1% | 0.2% | 0.2% | 0.2% | 0.1% | 0.2% | 0.2% | 0.1% | 0.1% | 0.2% | 0.1% | 0.1% |
| — | +105.1% | -12.7% | -13.9% | +59.5% | -44.8% | -15.3% | +45.8% | -10.3% | -35.6% | -12.8% | +201.9% | +152.2% | |
| ROIC | 11.4% | 2.1% | 3.1% | 4.1% | 4.1% | 1.3% | 3.8% | 4.1% | 2.5% | 2.3% | 3.9% | 2.2% | 2.6% |
| — | +69.3% | -19.1% | -0.9% | +66.9% | -44.4% | -3.3% | +85.4% | -6.0% | -25.2% | +10.8% | +197.4% | +162.4% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Manulife Financial Corporation's Debt/EBITDA ratio is 7.8x, down from 10.5x last quarter — elevated, raising questions about debt serviceability.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.28 | 0.26 | 0.28 | 0.25 | 0.26 | 0.27 | 0.27 | 0.26 | 0.28 | 0.27 | 0.26 | 0.26 | 0.27 |
| — | -3.4% | +4.5% | -1.0% | -6.2% | -0.9% | +2.3% | -2.9% | +2.1% | -3.1% | +2.5% | +10.5% | +16.7% | |
| Debt / EBITDA | 2.79 | 7.84 | 10.48 | 7.70 | 7.18 | 52.31 | 7.38 | 6.98 | 14.53 | 16.66 | 7.58 | 15.41 | 11.54 |
| — | -85.0% | +42.0% | +10.2% | -50.6% | +214.0% | -2.6% | -54.7% | +25.9% | +73.4% | +39.8% | -81.8% | — | |
| Current Ratio | — | — | — | — | 0.09 | — | — | — | — | — | — | 77.68 | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Quick Ratio | — | — | — | — | 0.09 | — | — | — | — | — | — | 77.68 | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Interest Coverage | 5.64 | 4.77 | 5.70 | 6.74 | 7.28 | 2.86 | 6.04 | 6.71 | 4.25 | 3.95 | 6.44 | 3.83 | 4.77 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying MFC stock.
Manulife Financial Corporation's current P/E is 18.6x. The average P/E over the last 4 quarters is 10.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Manulife Financial Corporation's current operating margin is 13.4%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Manulife Financial Corporation's business trajectory between earnings reports.