Manulife Financial Corporation

MFC.TOTSXFinancial Services● Active

$53.99

$-0.01(-0.02%)

Market Cap$90.5B

P/E Ratio—

52W High$55.34

52W Low$41.08

Avg Volume6.2M

Open$54.10

Beta0.78

Free Cash Flow Financials Revenue

Manulife Financial Corporation (MFC.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

MFC.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

MFC.TO · FCF · TTM · margin & CAGR

Free cash flow was $32.10B for FY2025 (fiscal year ending 2025-12-31), up 21.2% year-over-year The FCF margin was 60.6%. Five-year CAGR stands at +9.9%.

FY2025 Free Cash Flow$32.10B▲ +21.2% YoY

Trailing 12M (TTM)$28.95Btrailing 4 quarters sum

FCF Margin60.6%$32.10B ÷ revenue

3-Year CAGR+24.5%FY2022 → FY2025

5-Year CAGR+9.9%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

MFC.TO · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$32.10B(0M)$32.10B▲ +21.2%60.6%

FY2024$26.49B(0M)$26.49B▲ +29.7%58.1%

FY2023$20.42B(0M)$20.42B▲ +22.8%48.3%

FY2022$16.63B(0M)$16.63B▼ 28.2%70.4%

FY2021$23.16B(0M)$23.16B▲ +15.5%38.7%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

MFC.TO · P/FCF · FCF yield · FCF per share

Manulife Financial Corporation (MFC.TO) trades at a FCF yield of 31.71% and a price-to-free-cash-flow ratio of 3.2x. FCF per share stands at $17.00, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

31.71%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$17.00

TTM FCF ÷ Shares Outstanding

Price / FCF

x3.2

Share Price ÷ FCF per Share

EV / FCF (TTM)

x3.1

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

MFC.TO · cash flow statement · operating / investing / financing

For FY2025, Manulife Financial Corporation generated $32.10B in operating cash flow and spent 0M in capital expenditures, yielding $32.10B in free cash flow.

Operating Activities

+$32.10B

Cash from core business operations

2025-12-31

Investing Activities

−$28.36B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$2.05B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($32.10B) − |CapEx| (0M) = FCF ($32.10B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

MFC.TO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Manulife Financial CorporationYOU

MFC.TO

$32.10B+21.2%60.6%

32%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Manulife Financial Corporation (MFC.TO) reported free cash flow of $32.10B for FY2025 (fiscal year ending 2025-12-31), up 21.2% year-over-year. The FCF margin was 60.6%.

Based on available data, Manulife Financial Corporation has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $32.10B in FY2025. The 5-year CAGR stands at +9.9%.

Manulife Financial Corporation's FCF yield is 31.71% and price-to-FCF ratio is 3.2x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

MFC.TO free cash flow · 8 questions

Manulife Financial Corporation free cash flow was $32.10B for FY2025, up 21.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $28.95B.

MFC.TO free cash flowMFC.TO FCFMFC.TO FCF 2025MFC.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Manulife Financial Corporation · Manulife Financial Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026