Company Valuation: Manulife Financial Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 46,837 45,278 52,881 76,341 83,591 84,795 - -
Change - -3.33% 16.79% 44.36% 9.5% 1.44% - -
Enterprise Value (EV) 46,837 32,359 45,281 76,341 83,591 84,795 84,795 84,795
Change - -30.91% 39.93% 68.59% 9.5% 1.44% 0% 0%
P/E ratio 6.81x 6.56x 11.2x 15.5x 16.2x 11.3x 10.2x 10.8x
PBR 0.9x 0.91x 1.31x 1.72x 1.92x 1.76x 1.62x 1.23x
PEG - 1.66x -0.4x 1.76x 2x 0.2x 1x -1.89x
Capitalization / Revenue 0.76x 2.64x 1.08x 1.43x 1.37x 1.68x 1.6x 1.51x
EV / Revenue 0x 0x 0x 0x 0x 1.68x 1.6x 1.51x
EV / EBITDA - - - - - - - -
EV / EBIT - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1.12 1.32 1.46 1.6 1.76 1.918 2.017 1.9
Rate of return 4.65% 5.47% 4.99% 3.62% 3.53% 3.79% 3.99% 3.76%
EPS 2 3.54 3.68 2.61 2.84 3.07 4.48 4.953 4.67
Distribution rate 31.6% 35.9% 55.9% 56.3% 57.3% 42.8% 40.7% 40.7%
Net sales 1 61,821 17,147 48,739 53,291 60,964 50,340 53,029 56,310
EBITDA - - - - - - - -
EBIT 9,553 10,541 8,006 - - - - -
Net income 1 6,890 7,294 5,103 5,385 5,251 7,248 7,909 8,417
Net Debt - -12,919 -7,600 - - - - -
Reference price 2 24.11 24.15 29.28 44.16 49.84 50.58 50.58 50.58
Nbr of stocks (in thousands) 19,42,637 18,74,847 18,06,039 17,28,735 16,77,181 16,76,449 - -
Announcement Date 09/02/22 15/02/23 14/02/24 19/02/25 11/02/26 - - -
1CAD in Million2CAD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.29x - - 3.79% 6.13TCr
7.3x5.18x - 4.89% 15TCr
10.19x0.89x - 6% 9.96TCr
11.78x0.92x - 4.96% 6.36TCr
15.66x3.01x - 2.17% 5.83TCr
7.53x1.32x - 3.23% 5.03TCr
8.23x - - 3.14% 4.87TCr
12.83x - - 3.96% 4.4TCr
12.69x - - 2.04% 3.77TCr
12.12x - - 4.17% 3.66TCr
Average 10.96x 2.26x 3.83% 6.51TCr
Weighted average by Cap. 10.35x 2.77x 4.19%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Manulife Financial Corporation