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Manulife FinancialPHS:MFC 62 Cash-to-Debt is 1.86 as of Mar. 2026, which is 16% above its 10-year median of 1.61. GuruFocus rates PHS:MFC with a GF Score™ of 62/100 and a GF Value™ of ₱1,738.10 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 499 Insurance companies, Manulife Financial ranks worse than 50.9% on this metric.
Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. Manulife Financial's cash to debt ratio for the quarter that ended in Mar. 2026 was 1.86.
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. Here we can see, Manulife Financialcould pay off its debt using the cash in hand for the quarter that ended in Mar. 2026.
The historical rank and industry rank for Manulife Financial's Cash-to-Debt or its related term are showing as below:
PHS:MFC'
s Cash-to-Debt Range Over the Past 10 Years
Min: 1.15 Med: 1.61 Max: 2.3
Current: 1.86
During the past 13 years, Manulife Financial's highest Cash to Debt Ratio was 2.30. The lowest was 1.15. And the median was 1.61.
PHS:MFC's Cash-to-Debt is ranked worse than 50.9% of 499
companies
in the Insurance industry
Industry Median: 2.02
vs PHS:MFC: 1.86
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.
Manulife Financial Cash-to-Debt Related Terms
Manulife Financial Cash-to-Debt Historical Data
* Premium members only.
The historical data trend for Manulife Financial's Cash-to-Debt can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
For the Insurance - Life subindustry, Manulife Financial's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Manulife Financial Cash-to-Debt vs Insurance Industry
For the Insurance industry and Financial Services sector, Manulife Financial's Cash-to-Debt distribution charts can be found below:
* The bar in red indicates where Manulife Financial's Cash-to-Debt falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Manulife Financial (PHS:MFC) has a Cash-to-Debt of 1.86 as of Mar. 2026. This is 16% above median its historical median of 1.61. Over the past decade, Manulife Financial's Cash-to-Debt has ranged from 1.15 to 2.30. According to the industry distribution chart, Manulife Financial ranks #254 out of 499 companies in the Insurance industry, placing it in the top 50.9%.
Is Manulife Financial's Cash-to-Debt too high?
Manulife Financial's current Cash-to-Debt of 1.86 is 16% above median its 10-year median of 1.61. Over the past 10 years, this metric has ranged from a low of 1.15 to a high of 2.30. The Insurance industry median Cash-to-Debt is 2.02. Manulife Financial's value of 1.86 is 7.9% below this industry median. Based on the distribution chart, Manulife Financial ranks #254 out of 499 companies in the Insurance industry, which is below the industry midpoint. Overall, Manulife Financial has a GF Score™ of 62/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Manulife Financial's Cash-to-Debt compare to AFL and MET?
According to the Insurance industry distribution chart, Manulife Financial ranks #254 out of 499 companies for Cash-to-Debt. This places Manulife Financial in the lower half of its industry. The industry median Cash-to-Debt is 2.02. Manulife Financial's value of 1.86 is 7.9% below this benchmark. Historically, Manulife Financial's own Cash-to-Debt has ranged from 1.15 to 2.30 over the past decade. While the company's 10-year median is 1.61 vs. the industry median of 2.02, Manulife Financial has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash-to-Debt for an Insurance company?
The median Cash-to-Debt among Insurance companies is 2.02, based on 499 companies in the industry. Companies in the top quartile (top 25%) have a Cash-to-Debt significantly above this median, while those in the bottom quartile fall well below. However, Cash-to-Debt should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Manulife Financial's current Cash-to-Debt of 1.86 is 7.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash-to-Debt mean?
A high Cash-to-Debt can signal that a stock is expensive relative to its fundamentals. For the Insurance industry, the median Cash-to-Debt is 2.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Manulife Financial's current Cash-to-Debt is 1.86, which is 16% above median its own 10-year median of 1.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Manulife Financial stock overvalued right now?
Based on GuruFocus' analysis, Manulife Financial (PHS:MFC) is currently considered Significantly Overvalued. The stock's GF Value™ is ₱1,738.10, compared to a current price of ₱2,478.00 — trading 42.6% above its estimated fair value. The current Cash-to-Debt is 1.86, which is 16% above median its 10-year median of 1.61 and 7.9% below the Insurance industry median of 2.02. Manulife Financial's overall GF Score™ is 62/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash-to-Debt calculated?
Cash-to-Debt is calculated from a company's financial statements. For Manulife Financial (PHS:MFC), the current Cash-to-Debt is 1.86 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Manulife Financial (PHS:MFC) Overvalued in 2026?
Based on GuruFocus' analysis, Manulife Financial stock appears to be overvalued.
The current stock price of ₱2,478.00 is trading 42.6% above its estimated GF Value™ of ₱1,738.10.
GuruFocus considers Manulife Financial to be Significantly Overvalued.
Key valuation signals for PHS:MFC:
Cash-to-Debt: 1.86 (16% above median its 10-year median of 1.61)
GF Value™: ₱1,738.10 vs. price of ₱2,478.00 (42.6% above fair value)
Industry Position: 7.9% below the Insurance median (#254 of 499)
No single metric tells the full story. See the PHS:MFC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Manulife Financial is one of the Big Three Canadian life insurers. The firm provides life insurance, annuities, asset management, and wealth management products to individuals and group customers in Canada, the United States, and Asia. The Canadian business segment contributes approximately 21% of 2025 adjusted earnings. The Asia segment operates across 12 countries and contributes around 38% of earnings, with a significant presence in Hong Kong and Singapore. The US business, which primarily operates under the John Hancock brand, contributes about 16% of earnings. Manulife's global asset and wealth management business contributes approximately 25% of its earnings and had around CAD 1.1 trillion in assets under management and administration as of the end of 2025.
62GF Score
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