Stock fact sheet · data as of
Manulife Financial Corporation (MFC): fair value, margin of safety and Wheel Score
Financial Services · Insurance - Life · Canada · Defensive
Is MFC undervalued?
Manulife Financial Corporation (MFC) closed at 43.86 on 16 Oct 2026. The GLS average fair value - the simple average of the 9 valuation models that produced a positive number - is 120.96, which puts the price 64% below it. 5 of the 9 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.
The 9 models disagree widely: DCF gives 20.20 while 10 Cap gives 379.51. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files MFC under Defensive: a low beta, a dividend and positive earnings.
Nine valuation models for MFC
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 20.20 | -54% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 53.85 | +23% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 87.10 | +99% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 32.44 | -26% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 174.26 | +297% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 379.51 | +765% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 281.79 | +542% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 27.88 | -36% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 31.63 | -28% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -540.14 | -1332% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 34.24 | -22% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
On financial health MFC scores 7/9 (Piotroski): most of the nine tests - positive earnings and cash flow, falling debt, rising margins and turnover - are passed, which is the kind of balance sheet a wheel trader is happy to be assigned. The GLS Moat score is 7.1 out of 10: a ten-year record that is consistent in some of the metrics the score tracks (revenue, earnings, margins, cash flow, returns on capital) and patchy in others.
Returns on capital are moderate - ROIC 8.8%, ROE 11.3%, ROA 0.6% - with debt at 0.29 times equity and a free-cash-flow yield of 29.8%.
The dividend yield is 3.05% at a payout ratio of 51%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Real estate management services 100% (fiscal year FY2022).
Institutional ownership scores 6/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 8.8% |
|---|---|---|---|
| GLS Moat | 7.1 / 10 | ROE | 11.3% |
| Debt / equity | 0.29 | ROA | 0.6% |
| Free-cash-flow yield | 29.8% | Payout ratio | 51% |
| Institutions | 6 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 84: Prime
MFC scores 84 out of 100 on the Wheel Score, in the Prime band (80 and above), which fewer than one stock in twenty reaches on any night. The score blends five things a wheel trader checks before selling a cash-secured put: the margin of safety (Value, 25/25), Piotroski health (16/20), the GLS moat (11/15), the option premium on offer (14/20) and how easily the stock trades (19/20).
Implied volatility is 29% on the near-the-money contracts 20-60 days out: some premium, but under the 35-60% range the Wheel Score pays full marks for (14 of 20 points). Chain open interest is 5,728 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.2M shares a day on a market cap of $72.8B, with a beta of 0.74 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 19 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 64% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 11 / 15 | moat 7.1/10 | |
| Premium | 14 / 20 | implied volatility 29% | |
| Stability | 19 / 20 | 1.2M shares/day, $72.8B cap, beta 0.74 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 4 Nov 2026 (after the close), 19 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Insurance - Life
The 12 companies below are the closest to Manulife Financial Corporation by market cap within the Insurance - Life industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| MET MetLife, Inc. | 100.27 | 162.98 | +38% | 84Prime | $63.7B |
| AFL Aflac Incorporated | 118.05 | 102.40 | -15% | 61Fair | $59.2B |
| PRU Prudential Financial, Inc. | 113.49 | 395.40 | +71% | 88Prime | $39.2B |
| PUK Prudential plc | 23.81 | 52.94 | +55% | 83Prime | $29.3B |
| UNM Unum Group | 91.46 | 83.14 | -10% | 72Good | $14.5B |
| UNMA Unum Group 6.250% JR NT58 | 20.46 | 56.18 | +64% | 39No options | $14.5B |
| GL Globe Life Inc. | 167.59 | 263.49 | +36% | 79Good | $12.9B |
| JXN Jackson Financial Inc. | 131.56 | 304.00 | +57% | 88Prime | $8.9B |
| VOYA Voya Financial, Inc. | 95.12 | 154.12 | +38% | 79Good | $8.6B |
| PRI Primerica, Inc. | 278.35 | 434.23 | +36% | 83Prime | $8.6B |
| LNC Lincoln National Corporation | 40.01 | 150.63 | +73% | 80Prime | $7.7B |
| PRH Prudential Financial, Inc. 5.95 | 20.24 | 169.97 | +88% | 39No options | $7.0B |
⚖ Compare MFC with 7 of them All Financial Services stocks →
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A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the same eight-rule screen, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about MFC
Is MFC undervalued right now?
By the GLS models, yes: at 43.86 the stock is 64% below the average fair value of 120.96 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of MFC and what does it mean?
MFC scores 84 out of 100 (Prime). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for MFC?
120.96 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Manulife Financial Corporation report earnings next?
The next earnings report is due on 4 Nov 2026 (after the close), 19 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does MFC have listed options, and how liquid are they?
Yes. The nightly snapshot found 222 listed contracts with 5,728 open interest across all expiries and implied volatility of 29% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.