Manulife Posts Record 2025 Core Earnings, Lifts Dividend and Extends Asian Push
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Manulife Financial ( (TSE:MFC) ) has provided an update.
On February 11, 2026, Manulife reported full-year and fourth-quarter 2025 results showing record core earnings of $7.5 billion and strong insurance new business growth, including a 28% rise in new business contractual service margin and 18% growth in new business value versus 2024. The company’s core EPS rose 8%, core ROE reached 16.5%, and remittances of $6.4 billion supported $5.4 billion of capital returned to shareholders, including buybacks of 3.1% of shares and a 10.2% increase to the common share dividend, while Asia and Global WAM delivered double‑digit core earnings growth despite weaker Global WAM net flows.
Management highlighted 2025 as a “defining year,” citing targeted strategic investments, expansion into India via a life insurance joint venture with Mahindra, acquisitions such as Comvest Credit Partners and Schroders Indonesia, and the opening of a high‑net‑worth office in Dubai. These moves, alongside recognition as the leading life insurer for AI maturity and responsible innovation, underscore Manulife’s push to deepen its insurance and investment footprint in high‑growth markets, enhance AI‑driven productivity, and position the firm for sustained earnings growth amid ongoing macroeconomic uncertainty.
The fourth quarter of 2025 saw core earnings of $2.0 billion, up 5% year‑over‑year, with core EPS up 9% and core ROE at 17.1%, even as reported EPS and net income declined versus 4Q24. Segment results showed particularly strong performance in Asia, where core earnings rose 18% for the year and new business metrics advanced sharply, while Canada delivered modest growth and the U.S. segment saw lower core earnings despite stronger sales and new business margins.
The most recent analyst rating on (TSE:MFC) stock is a Buy with a C$55.00 price target. To see the full list of analyst forecasts on Manulife Financial stock, see the TSE:MFC Stock Forecast page.
Spark’s Take on TSE:MFC Stock
According to Spark, TipRanks’ AI Analyst, TSE:MFC is a Outperform.
Manulife Financial’s strong financial performance and positive technical indicators are the most significant factors driving the score. The valuation is reasonable, and the recent earnings call provides a balanced outlook with growth opportunities and some challenges.
To see Spark’s full report on TSE:MFC stock, click here.
More about Manulife Financial
Manulife Financial Corporation is a Toronto-based global financial services group operating primarily in life and health insurance, wealth and asset management, and retirement solutions. It serves individual and institutional clients across Asia, Canada, the U.S. and globally through its Global Wealth and Asset Management (Global WAM) business, with shares listed in Toronto, New York, the Philippines and Hong Kong.
Average Trading Volume: 5,934,151
Technical Sentiment Signal: Buy
Current Market Cap: C$86.89B
See more data about MFC stock on TipRanks’ Stock Analysis page.
