MFC (Manulife Financial) Scaled Net Operating Assets: 0.04 (As of Mar. 2026)


MFC Manulife Financial Corp MFC
67 GF Score
Price $39.70
GF Value $30.78
Valuation Modestly Overvalued
! 8 Warning Signs
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What is Manulife Financial Scaled Net Operating Assets?

Manulife Financial MFC -1.22% 67 Scaled Net Operating Assets is 0.04 as of Mar. 2026. GuruFocus rates MFC with a GF Score™ of 67/100 and a GF Value™ of $30.78 (Modestly Overvalued). The stock has 8 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Manulife Financial's operating assets for the quarter that ended in Mar. 2026 was $729,974 Mil. Manulife Financial's operating liabilities for the quarter that ended in Mar. 2026 was $699,716 Mil. Manulife Financial's Total Assets for the quarter that ended in Dec. 2025 was $743,337 Mil. Therefore, Manulife Financial's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.04.

MFC
67GF Score
Manulife Financial Corp MFC
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Manulife Financial Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Manulife Financial's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(723979.703-694650.236)/687034.463
=0.04

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=743336.716 - 19357.013
=723979.703

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=705288.148 - 9375.861 - 1262.051
=694650.236

Manulife Financial's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(729974.49-699715.744)/743336.716
=0.04

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=748187.318 - 18212.828
=729974.49

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=709516.764 - 9526.239 - 274.781
=699715.744

* 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.

What does a Scaled Net Operating Assets of 0.04 mean?
Manulife Financial (MFC) has a Scaled Net Operating Assets of 0.04 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Manulife Financial and its competitors.
Is Manulife Financial's Scaled Net Operating Assets too high?
Manulife Financial's current Scaled Net Operating Assets is 0.04. Overall, Manulife Financial has a GF Score™ of 67/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Manulife Financial's Scaled Net Operating Assets compare to AFL and MET?
Manulife Financial's Scaled Net Operating Assets of 0.04 can be compared against companies in the Insurance industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for an Insurance company?
A good Scaled Net Operating Assets depends on the Insurance industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Manulife Financial and its competitors. Manulife Financial's current Scaled Net Operating Assets is 0.04. 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 (MFC) is currently considered Modestly Overvalued. The stock's GF Value™ is $30.78, compared to a current price of $39.70 — trading 29% above its estimated fair value. The current Scaled Net Operating Assets is 0.04. Manulife Financial's overall GF Score™ is 67/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Manulife Financial (MFC), the current Scaled Net Operating Assets is 0.04 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 (MFC) Overvalued in 2026?

Based on GuruFocus' analysis, Manulife Financial stock appears to be overvalued. The current stock price of $39.70 is trading 29% above its estimated GF Value™ of $30.78. GuruFocus considers Manulife Financial to be Modestly Overvalued.

Key valuation signals for MFC:

  • Scaled Net Operating Assets: 0.04
  • GF Value™: $30.78 vs. price of $39.70 (29% above fair value)
  • GF Score™: 67/100 with 8 warning signs

No single metric tells the full story. See the MFC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Manulife Financial Business Description

Address 200 Bloor Street East, Toronto, ON, CAN, M4W 1E5
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.
67GF Score

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Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$39.70
Price
$30.78
GF Value