Manulife Financial Corp key statistics and ratios

In fiscal 2025, Manulife Financial Corp had return on equity of 11.1%, a net margin of 68.5% and debt equal to 15.3% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Manulife Financial Corp: financial ratios, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Net margin	5.5%	3.6%	12.3%	7.0%	7.4%	11.5%	−31.2%	75.6%	71.0%	68.5%
Return on equity	7.1%	5.1%	11.2%	11.8%	11.1%	14.8%	−4.2%	10.8%	11.1%	11.1%
Return on assets	0.4%	0.3%	0.7%	0.7%	0.7%	0.8%	−0.2%	0.6%	0.6%	0.6%
Asset turnover	0.08	0.08	0.05	0.10	0.09	0.07	0.01	0.01	0.01	0.01
Debt to equity	13.6%	11.7%	10.4%	9.2%	11.8%	10.8%	13.3%	12.9%	13.0%	15.3%
Effective tax rate	5.9%	9.6%	11.5%	11.5%	17.6%	14.9%	—	13.1%	17.1%	14.6%
Dividends ÷ net income	—	—	—	—	—	—	—	0.0%	—	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Manulife Financial Corp's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Manulife Financial Corp.