Manulife FinancialPHS:MFC +1.72%70 Debt-to-EBITDA is 2.46 as of Mar. 2026, which is 32% above its 10-year median of 1.86. GuruFocus rates PHS:MFC with a GF Score™ of 70/100 and a GF Value™ of ₱1,728.90 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 323 Insurance companies, Manulife Financial ranks worse than 65.33% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Manulife Financial's Debt-to-EBITDA or its related term are showing as below:
PHS:MFC'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -3.47 Med: 1.86 Max: 3.14
Current: 1.79
During the past 13 years, the highest Debt-to-EBITDA Ratio of Manulife Financial was 3.14. The lowest was -3.47. And the median was 1.86.
PHS:MFC's Debt-to-EBITDA is ranked worse than 65.33% of 323
companies
in the Insurance industry
Industry Median: 1.17
vs PHS:MFC: 1.79
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Manulife Financial Debt-to-EBITDA Related Terms
Manulife Financial Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Manulife Financial's Debt-to-EBITDA 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.
PHS:MFC vs AFL, MET, PRU: Debt-to-EBITDA Comparison
For the Insurance - Life subindustry, Manulife Financial's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA 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 Debt-to-EBITDA vs Insurance Industry
For the Insurance industry and Financial Services sector, Manulife Financial's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Manulife Financial's Debt-to-EBITDA 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.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Manulife Financial (PHS:MFC) has a Debt-to-EBITDA of 2.46 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Manulife Financial. This is 32% above median its historical median of 1.86. According to the industry distribution chart, Manulife Financial ranks #211 out of 323 companies in the Insurance industry, placing it in the top 65.3%.
Is Manulife Financial's Debt-to-EBITDA too high?
Manulife Financial's current Debt-to-EBITDA of 2.46 is 32% above median its 10-year median of 1.86. The Insurance industry median Debt-to-EBITDA is 1.17. Manulife Financial's value of 2.46 is 110.3% above this industry median. Based on the distribution chart, Manulife Financial ranks #211 out of 323 companies in the Insurance industry, which is below the industry midpoint. Overall, Manulife Financial has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Manulife Financial's Debt-to-EBITDA compare to AFL and MET?
According to the Insurance industry distribution chart, Manulife Financial ranks #211 out of 323 companies for Debt-to-EBITDA. This places Manulife Financial in the lower half of its industry. The industry median Debt-to-EBITDA is 1.17. Manulife Financial's value of 2.46 is 110.3% above this benchmark. While the company's 10-year median is 1.86 vs. the industry median of 1.17, Manulife Financial has consistently been above 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 Debt-to-EBITDA for an Insurance company?
The median Debt-to-EBITDA among Insurance companies is 1.17, based on 323 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Manulife Financial's current Debt-to-EBITDA of 2.46 is 110.3% above 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 Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Manulife Financial. For the Insurance industry, the median Debt-to-EBITDA is 1.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Manulife Financial's current Debt-to-EBITDA is 2.46, which is 32% above median its own 10-year median of 1.86. 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 ₱1,728.90, compared to a current price of ₱2,370.00 — trading 37.1% above its estimated fair value. The current Debt-to-EBITDA is 2.46, which is 32% above median its 10-year median of 1.86 and 110.3% above the Insurance industry median of 1.17. Manulife Financial's overall GF Score™ is 70/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Manulife Financial (PHS:MFC), the current Debt-to-EBITDA is 2.46 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 ₱2,370.00 is trading 37.1% above its estimated GF Value™ of ₱1,728.90.
GuruFocus considers Manulife Financial to be Significantly Overvalued.
Key valuation signals for PHS:MFC:
Debt-to-EBITDA: 2.46 (32% above median its 10-year median of 1.86)
GF Value™: ₱1,728.90 vs. price of ₱2,370.00 (37.1% above fair value)
Industry Position: 110.3% above the Insurance median (#211 of 323)
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.
70GF Score
Get the complete analysis for PHS:MFC
Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
PHS:MFC has been successfully added to your 
