Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Manulife FinancialPHS:MFC -0.37%69 Price-to-Tangible-Book is 3.00 as of Aug. 24, 2026, which is 95% above its 10-year median of 1.54. GuruFocus rates PHS:MFC with a GF Score™ of 69/100 and a GF Value™ of ₱1,905.04 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 472 Insurance companies, Manulife Financial ranks worse than 78.6% on this metric.
Some businesses have very light assets, such as software companies or insurance agencies. The Price-to-Book Ratio does not work well for these companies. Some companies even have negative equity, so the Price-to-Book Ratio cannot be applied to them.
Manulife Financial Price-to-Tangible-Book Related Terms
Manulife Financial Price-to-Tangible-Book Historical Data
* Premium members only.
The historical data trend for Manulife Financial's Price-to-Tangible-Book 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: Price-to-Tangible-Book Comparison
For the Insurance - Life subindustry, Manulife Financial's Price-to-Tangible-Book, along with its competitors' market caps and Price-to-Tangible-Book 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 Price-to-Tangible-Book vs Insurance Industry
For the Insurance industry and Financial Services sector, Manulife Financial's Price-to-Tangible-Book distribution charts can be found below:
* The bar in red indicates where Manulife Financial's Price-to-Tangible-Book 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called PB Ratio. The difference between Price-to-Tangible-Book Ratio and PB Ratio is that book value other than intangibles are used in the calculation.
Manulife Financial (PHS:MFC) has a Price-to-Tangible-Book of 3.00 as of Aug. 24, 2026. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on Manulife Financial and its competitors. This is 95% above median its historical median of 1.54. Over the past decade, Manulife Financial's Price-to-Tangible-Book has ranged from 0.84 to 2.87. According to the industry distribution chart, Manulife Financial ranks #371 out of 472 companies in the Insurance industry, placing it in the top 78.6%.
Is Manulife Financial's Price-to-Tangible-Book too high?
Manulife Financial's current Price-to-Tangible-Book of 3.00 is 95% above median its 10-year median of 1.54. Over the past 10 years, this metric has ranged from a low of 0.84 to a high of 2.87. The Insurance industry median Price-to-Tangible-Book is 1.48. Manulife Financial's value of 3.00 is 102.7% above this industry median. Based on the distribution chart, Manulife Financial ranks #371 out of 472 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Manulife Financial has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Manulife Financial's Price-to-Tangible-Book compare to AFL and MET?
According to the Insurance industry distribution chart, Manulife Financial ranks #371 out of 472 companies for Price-to-Tangible-Book. This places Manulife Financial in the lower half of its industry. The industry median Price-to-Tangible-Book is 1.48. Manulife Financial's value of 3.00 is 102.7% above this benchmark. Historically, Manulife Financial's own Price-to-Tangible-Book has ranged from 0.84 to 2.87 over the past decade. While the company's 10-year median is 1.54 vs. the industry median of 1.48, 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 Price-to-Tangible-Book for an Insurance company?
The median Price-to-Tangible-Book among Insurance companies is 1.48, based on 472 companies in the industry. Companies in the top quartile (top 25%) have a Price-to-Tangible-Book significantly above this median, while those in the bottom quartile fall well below. However, Price-to-Tangible-Book should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Manulife Financial's current Price-to-Tangible-Book of 3.00 is 102.7% 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 Price-to-Tangible-Book mean?
A high Price-to-Tangible-Book can signal that a stock is expensive relative to its fundamentals. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on Manulife Financial and its competitors. For the Insurance industry, the median Price-to-Tangible-Book is 1.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Manulife Financial's current Price-to-Tangible-Book is 3.00, which is 95% above median its own 10-year median of 1.54. 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 ₱1,905.04, compared to a current price of ₱2,690.00 — trading 41.2% above its estimated fair value. The current Price-to-Tangible-Book is 3.00, which is 95% above median its 10-year median of 1.54 and 102.7% above the Insurance industry median of 1.48. Manulife Financial's overall GF Score™ is 69/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Price-to-Tangible-Book calculated?
Price-to-Tangible-Book is calculated from a company's financial statements. For Manulife Financial (PHS:MFC), the current Price-to-Tangible-Book is 3.00 as of Aug. 24, 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 ₱2,690.00 is trading 41.2% above its estimated GF Value™ of ₱1,905.04.
GuruFocus considers Manulife Financial to be Significantly Overvalued.
Key valuation signals for PHS:MFC:
Price-to-Tangible-Book: 3.00 (95% above median its 10-year median of 1.54)
GF Value™: ₱1,905.04 vs. price of ₱2,690.00 (41.2% above fair value)
Industry Position: 102.7% above the Insurance median (#371 of 472)
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.
69GF Score
Get the complete analysis for PHS:MFC
Price-to-Tangible-Book 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 
