Financials Manulife Financial Corporation

Equities

Real-time Estimate TE Other stock markets 10:15:27 2025-12-16 am EST			5-day change	1st Jan Change
49.32 ^CAD	+0.18%		+1.21%	+11.89%

03:52am	Manulife Financial Corporation - Special Call
Dec. 15	Wild currency swings put emerging markets in the spotlight	RE

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	78,908	61,821	17,147	48,739	53,291	48,443	50,004	52,185
Change	-	-21.65%	-72.26%	184.24%	9.34%	-9.1%	3.22%	4.36%
EBITDA	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT	6,056	9,553	10,541	8,006	-	-	-	-
Change	-	57.74%	10.34%	-24.05%	-	-	-	-
Interest Paid ¹	-1,181	-1,011	-1,350	-1,554	-1,681	-1,655	-1,533	-1,593
Earnings before Tax (EBT) ¹	6,771	8,125	8,747	6,452	7,090	7,909	9,238	10,115
Change	-	20%	7.66%	-26.24%	9.89%	11.55%	16.81%	9.48%
Net income ¹	5,700	6,890	7,294	5,103	5,385	5,511	7,150	7,915
Change	-	20.88%	5.86%	-30.04%	5.53%	2.34%	29.74%	10.7%
Announcement Date	2/10/21	2/9/22	2/15/23	2/14/24	2/19/25	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2
Net sales	-	-	38,112	-	-	-	-	-	-	-	-	1,722	1,783	14,917	12,798	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	3.54%	736.62%	-14.21%	-	-	-	-	-	-	-	-	-	-	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	2,154	1,720	1,224	3,656	1,849	2,824	-	1,680	-	2,671	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-20.15%	-28.84%	198.69%	-49.43%	52.73%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-424	-426	-411	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	2,170	2,065	872	3,292	1,480	2,481	3,711	1,257	1,637	2,142	1,719	1,436	1,174	2,123	2,244	1,384	-	-	-	2,261	2,229	2,240	2,253	2,298	2,392	2,412	-	-
Change	-	-4.84%	-57.77%	277.52%	-55.04%	67.64%	49.58%	-66.13%	30.23%	30.85%	-19.75%	-16.46%	-18.25%	80.83%	5.7%	-38.32%	-	-	-	-	-1.42%	0.49%	0.58%	2%	4.09%	0.84%	-	-
Net income ¹	2,026	1,780	740	2,582	1,555	2,013	2,918	1,026	1,347	1,891	1,406	1,025	1,013	1,659	866	1,042	1,839	1,638	485	1,789	1,799	1,761	1,821	1,833	1,922	1,932	1,969	2,024
Change	-	-12.14%	-58.43%	248.92%	-39.78%	29.45%	44.96%	-64.84%	31.29%	40.39%	-25.65%	-27.1%	-1.17%	63.77%	-47.8%	20.32%	76.49%	-10.93%	-70.39%	268.87%	0.56%	-2.11%	3.42%	0.62%	4.9%	0.5%	1.9%	2.81%
Announcement Date	11/11/20	2/10/21	5/5/21	8/4/21	11/3/21	2/9/22	5/11/22	8/10/22	11/9/22	2/15/23	5/10/23	8/9/23	11/8/23	2/14/24	5/8/24	8/7/24	11/6/24	2/19/25	5/7/25	8/6/25	11/12/25	-	-	-	-	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt	-12,174	-	-12,919	-7,600	-	-	-	-
Change	-	-	-	41.17%	-	-	-	-
Announcement Date	2/10/21	2/9/22	2/15/23	2/14/24	2/19/25	-	-	-

Estimates

Fiscal Period: December	2020	2022	2023	2024
CAPEX ¹	-	-	-	-
Change	-	-	-	-
Free Cash Flow (FCF) ¹	8,945	27,917	25,942	4,763
Change	-	-	-7.07%	-81.64%
Announcement Date	2/10/21	2/16/23	2/14/24	2/19/25

¹CAD in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	-	-	-	-	-	-	-	-	-
EBIT Margin (%)	-	7.67%	15.45%	61.47%	16.43%	-	-	-	-
EBT Margin (%)	-	8.58%	13.14%	51.01%	13.24%	13.3%	16.33%	18.48%	19.38%
Net margin (%)	-	7.22%	11.15%	42.54%	10.47%	10.1%	11.38%	14.3%	15.17%
FCF margin (%)	-	-	-	-	-	-	-	-	-
FCF / Net Income (%)	-	-	-	-	-	-	-	-	-
Profitability
ROA	-	0.63%	0.7%	0.67%	0.78%	0.75%	0.8%	0.9%	1%
ROE	-	10.9%	13%	11.9%	15.9%	16.4%	16.12%	16.42%	16.95%
Financial Health
Leverage (Debt/EBITDA)	0.02x	0.1x	-	0.54x	0.23x	-	-	-	-
Debt / Free cash flow	-	0.09x	-	0.2x	0.07x	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	-	-	-	-	-	-	-	-
CAPEX / EBITDA (%)	-	-	-	-	-	-	-	-	-
CAPEX / FCF (%)	-	-	-	-	-	-	-	-	-
Items per share
Cash flow per share ¹	-	10.32	-	9.509	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	1.12	1.12	1.32	1.46	1.6	1.764	1.912	2.007
Change	-	-	0%	17.86%	10.61%	9.59%	10.23%	8.38%	5.02%
Book Value Per Share ¹	-	25	26.78	26.49	22.36	25.63	26.51	28.42	30.58
Change	-	-	7.12%	-1.08%	-15.59%	14.62%	3.42%	7.23%	7.57%
EPS ¹	-	2.93	3.54	3.68	2.61	2.84	3.219	4.369	4.9
Change	-	-	20.82%	3.95%	-29.08%	8.81%	13.33%	35.73%	12.16%
Nbr of stocks (in thousands)	-	1,940,249	1,942,637	1,874,847	1,806,039	1,728,735	1,684,987	1,684,987	1,684,987
Announcement Date	-	2/10/21	2/9/22	2/15/23	2/14/24	2/19/25	-	-	-