Manulife FinancialPHS:MFC -2.84%71 Return-on-Tangible-Asset is 0.47% as of Mar. 2026, which is 25% below its 10-year median of 0.63. GuruFocus rates PHS:MFC with a GF Score™ of 71/100 and a GF Value™ of ₱1,830.18 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 509 Insurance companies, Manulife Financial ranks worse than 79.17% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Manulife Financial's annualizedNet Income for the quarter that ended in Mar. 2026 was ₱213,597 Mil. Manulife Financial's average total tangible assets for the quarter that ended in Mar. 2026 was ₱45,243,212 Mil. Therefore, Manulife Financial's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 0.47%.
The historical rank and industry rank for Manulife Financial's Return-on-Tangible-Asset or its related term are showing as below:
PHS:MFC'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -0.24 Med: 0.63 Max: 0.74
Current: 0.64
During the past 13 years, Manulife Financial's highest Return-on-Tangible-Asset was 0.74%. The lowest was -0.24%. And the median was 0.63%.
PHS:MFC's Return-on-Tangible-Asset is ranked worse than 79.17% of 509
companies
in the Insurance industry
Industry Median: 2.76
vs PHS:MFC: 0.64
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Manulife Financial Return-on-Tangible-Asset Related Terms
Manulife Financial Return-on-Tangible-Asset Historical Data
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The historical data trend for Manulife Financial's Return-on-Tangible-Asset 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: Return-on-Tangible-Asset Comparison
For the Insurance - Life subindustry, Manulife Financial's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Insurance Industry
For the Insurance industry and Financial Services sector, Manulife Financial's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Manulife Financial's Return-on-Tangible-Asset 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 Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 0.47% mean?
Manulife Financial (PHS:MFC) has a Return-on-Tangible-Asset of 0.47% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Manulife Financial and its competitors. This is 25% below median its historical median of 0.63. According to the industry distribution chart, Manulife Financial ranks #403 out of 509 companies in the Insurance industry, placing it in the top 79.2%.
Is Manulife Financial's Return-on-Tangible-Asset too high?
Manulife Financial's current Return-on-Tangible-Asset of 0.47% is 25% below median its 10-year median of 0.63. The Insurance industry median Return-on-Tangible-Asset is 2.76. Manulife Financial's value of 0.47% is 83% below this industry median. Based on the distribution chart, Manulife Financial ranks #403 out of 509 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Manulife Financial has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Manulife Financial's Return-on-Tangible-Asset compare to AFL and MET?
According to the Insurance industry distribution chart, Manulife Financial ranks #403 out of 509 companies for Return-on-Tangible-Asset. This places Manulife Financial in the lower half of its industry. The industry median Return-on-Tangible-Asset is 2.76. Manulife Financial's value of 0.47% is 83% below this benchmark. While the company's 10-year median is 0.63 vs. the industry median of 2.76, 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 Return-on-Tangible-Asset for an Insurance company?
The median Return-on-Tangible-Asset among Insurance companies is 2.76, based on 509 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Manulife Financial's current Return-on-Tangible-Asset of 0.47% is 83% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Manulife Financial and its competitors. For the Insurance industry, the median Return-on-Tangible-Asset is 2.76 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Manulife Financial's current Return-on-Tangible-Asset is 0.47%, which is 25% below median its own 10-year median of 0.63. 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 Modestly Overvalued. The stock's GF Value™ is ₱1,830.18, compared to a current price of ₱2,330.00 — trading 27.3% above its estimated fair value. The current Return-on-Tangible-Asset is 0.47%, which is 25% below median its 10-year median of 0.63 and 83% below the Insurance industry median of 2.76. Manulife Financial's overall GF Score™ is 71/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Manulife Financial (PHS:MFC), the current Return-on-Tangible-Asset is 0.47% 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 ₱2,330.00 is trading 27.3% above its estimated GF Value™ of ₱1,830.18.
GuruFocus considers Manulife Financial to be Modestly Overvalued.
Key valuation signals for PHS:MFC:
Return-on-Tangible-Asset: 0.47% (25% below median its 10-year median of 0.63)
GF Value™: ₱1,830.18 vs. price of ₱2,330.00 (27.3% above fair value)
Industry Position: 83% below the Insurance median (#403 of 509)
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.
71GF Score
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Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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