Start with its own history
At 13.99×, MFC is 6.1% above its 9-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · MFCInsurance - LifeUpdated Nov 2, 2026
Manulife Financial Corporation P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
13.99×
6.1% abovethe 9-observation annual average
Share price44.76
÷Earnings per share3.2
Price and EPS in quote currency. Calculation details
Investors are paying 13.99 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 13.18×
3-year average14.28×3 positive annual observations
5-year average12.41×4 positive annual observations
10-year average13.18×9 positive annual observations
Peer median · TTM18.92×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 16.18× | +4.4% |
| Dec 31, 2024 | 15.49× | +38.6% |
| Dec 31, 2023 | 11.18× | N/M |
| Dec 31, 2022 | N/M | N/M |
| Dec 31, 2021 | 6.79× | -11.8% |
| Dec 31, 2020 | 7.70× | -19.0% |
| Dec 31, 2019 | 9.52× | +15.0% |
| Dec 31, 2018 | 8.28× | -68.9% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 26.63× | +58.2% |
| Dec 31, 2016 | 16.84× | -13.9% |
| Dec 31, 2015 | 19.57× | +60.6% |
| Dec 31, 2014 | 12.19× | -5.2% |
| Dec 31, 2013 | 12.86× | -14.3% |
| Dec 31, 2012 | 15.01× | -83.4% |
| Dec 31, 2011 | 90.42× | N/M |
| Dec 31, 2010 | N/M | N/M |
| Dec 31, 2009 | 23.57× | -63.7% |
| Dec 31, 2008 | 65.00× | +350.2% |
| Dec 31, 2007 | 14.44× | -7.5% |
| Dec 31, 2006 | 15.61× | -6.3% |
| Dec 31, 2005 | 16.65× | +10.0% |
| Dec 31, 2004 | 15.14× | +20.1% |
| Dec 31, 2003 | 12.61× | +6.3% |
| Dec 31, 2002 | 11.86× | -31.6% |
| Dec 31, 2001 | 17.33× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How MFC compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 MFC This stockManulife Financial Corporation | 13.99× |
 GWO.TOGreat-West Lifeco Inc. | 18.82× |
 SLF.TOSun Life Financial Inc. | 19.02× |
 IAG.TOiA Financial Corporation Inc. | 18.36× |
 POW.TOPower Corporation of Canada | 23.27× |
 ELF.TOE-L Financial Corporation Limited | 3.66× |
 METMetLife, Inc. | 19.23× |
 PRUPrudential Financial, Inc. | 10.61× |
 JXNJackson Financial Inc. | 172.05× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does MFC’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 18.92×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take MFC into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("MFC", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 44.76 ÷ EPS 3.2 = 13.99×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 2, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
MFC P/E ratio: common questions
The essentials behind the numbers.
Manulife Financial Corporation's current P/E is 13.99× based on the quote data last updated Nov 2, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.