Stock fact sheet · data as of
Manulife Financial Corporation (MFC): fair value, margin of safety and Wheel Score
Ticker symbol MFC · Financial Services · Insurance - Life · Canada · Growth
Is MFC undervalued?
Manulife Financial Corporation (MFC) closed at 45.93 on 5 Nov 2026. The GLS average fair value - the simple average of the 9 valuation models that produced a positive number - is 108.73, which puts the price 58% below it. 4 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 20.57 while Payback Time gives 285.85. 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.
Ranked against every other company we cover, MFC is clearly faster-growing than it is cheap, so the nightly engine files it under Growth (value score 57, growth score 85, out of 100).
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 | 20.57 | -55% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 37.83 | -18% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 88.66 | +93% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 33.06 | -28% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 176.77 | +285% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 283.15 | +516% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 285.85 | +522% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 20.59 | -55% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 32.08 | -30% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -387.47 | -944% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 34.24 | -25% | 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 low at 3.3 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
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 28.9%.
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 | 3.3 / 10 | ROE | 11.3% |
| Debt / equity | 0.29 | ROA | 0.6% |
| Free-cash-flow yield | 28.9% | Payout ratio | 51% |
| Institutions | 6 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 75: Good
MFC scores 75 out of 100 on the Wheel Score (Good band, 70-84): it passes all 9 Wheel Trade Filters. How it ranks: value strong, premium fair, moat weak, health good, red flags good, option trading fair, stability strong; Moat (weak) holds it back.
Implied volatility is 27% on the near-the-money contracts 20-60 days out: enough to pass the 25-80% Wheel Trade Filter, but under the 35-60% sweet spot the score rewards most. Chain open interest is 4,917 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 2.0M shares a day on a market cap of $76.2B, with a beta of 0.75 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that strong.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 58% below fair value | |
| Premium | Fair | implied volatility 27% | |
| Moat | Weak | moat 3.3/10 | |
| Health | Good | Piotroski 7/9 | |
| Red Flags | Good | Red Flags score 85/100 | |
| Option trading | Fair | 3,122 contracts a day, 4,917 open interest | |
| Stability | Strong | beta 0.75, $76.2B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for MFC in the nightly calendar.
Analysts downgraded MFC 2 times in the last 30 days with no upgrades; the latest action was a downgrade by Scotiabank on 28 Oct 2026.
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. | 102.89 | 192.94 | +47% | 90Prime | $65.4B |
| AFL Aflac Incorporated | 125.30 | 87.49 | -43% | 33Weak | $62.8B |
| PRU Prudential Financial, Inc. | 126.63 | 366.05 | +65% | 81Good | $43.7B |
| PUK Prudential plc | 26.39 | 54.39 | +51% | 49Weak | $32.3B |
| GL Globe Life Inc. | 161.72 | 272.27 | +41% | 47Weak | $12.4B |
| UNM Unum Group | 74.79 | 74.48 | -0% | 41Weak | $11.8B |
| UNMA Unum Group 6.250% JR NT58 | 19.80 | 61.51 | +68% | 28No options | $11.8B |
| VOYA Voya Financial, Inc. | 104.63 | 193.08 | +46% | 87Prime | $9.5B |
| JXN Jackson Financial Inc. | 137.35 | 479.49 | +71% | 84Good | $9.3B |
| PRI Primerica, Inc. | 284.54 | 432.81 | +34% | 48Weak | $8.8B |
| LNC Lincoln National Corporation | 41.60 | 151.08 | +72% | 52Fair | $8.0B |
| PRH Prudential Financial, Inc. 5.95 | 21.10 | 151.61 | +86% | 35No options | $7.3B |
⚖ 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 top 10 stocks that pass all 9 Wheel Trade Filters, 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 45.93 the stock is 58% below the average fair value of 108.73 (data as of 5 Nov 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 75 out of 100 (Good). The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for MFC?
108.73 per share as of 5 Nov 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?
No upcoming earnings date is recorded for MFC in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does MFC have listed options, and how liquid are they?
Yes. The nightly snapshot found 134 listed contracts with 4,917 open interest across all expiries and implied volatility of 27% 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.