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The Screen · Financials · Insurance - Life
Manulife Financial Corporation
MFC · the NYSE · USD · Market cap $74.9B · 37,000 employees
Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally.
FAIL · Does not pass the screen
44.63 USD
Price as of 30 Oct 2026Daily close, not a live quote
Screened 2026-10-30 · the tape above runs as of 16:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.66, read 2026-10-28
Ethical does not pass the values gate
Price44.63 USD
Fair value34.85
Ethical score10.0/100
RatingAVOID
Our investment reviews on this name
2026-11-01Read Markup44.63+0.0% to today ✓Accumulation gives way to Markup first Markup read since October
2026-10-25Read Accumulation43.86+1.8% to today ✓Markdown gives way to Accumulation
2026-10-11Read Markdown43.86+1.8% to today Markup gives way to Markdown
2026-08-05Read Markup44.06+1.3% to today ✓Distribution gives way to Markup after a 14% rise in 5 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Manulife Financial Corporation holds its Markup at $44.63. The statistical read favours the buyers, held for 4 days.
As held on the ledger · 2026-10-30
Phase
Markup
Quantitative state
The statistical read favours the buyers, held for 4 days
Price at the screen
$44.63
Valuation
16.95 trailing · 12.71 forward price to earnings
Values screen
FAIL· score 10.0
Beta
0.74
The Workings
Five Screens, Shown in Full
Does not pass. Business activity
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Financial sector: insurance
Fail
Debt load
0.00%
Below 33%
Interest-bearing debt is just 0.0% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
35.99%
Below 5%
36.0% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Manulife Financial does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-10-31. It updates when the underlying figures move, and past reads are kept below.
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Get an email when MFC's ethical verdict changes
Today MFC does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads AVOID: it trades above our $34.85 fair value estimate, moderate competitive moat, 10.70% revenue growth.
Fair value range in USD, drawn from the 2026-10-30 screen. The gold marker is the market price at the same screen. The price runs 21.9% above the base estimate.
Reading the gap · Both our model and the Street see limited upside at this price.
Where our models see it going: fair-value estimate $34.85, with a range of $34.85 to $66.78, dated to the 2026-10-30 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Ethical screen rules out Manulife at any price
Every month families in Toronto or Singapore pay premiums hoping the insurer will be there when life turns hard. Manulife clears the usual financial hurdles yet fails our ethical screen on core business activity, so we pass.
Revenue is rising 12 percent and margins sit at 20 percent, but the shares trade above our fair value of 37.13 dollars with only a moderate moat. The 12.4 times forward earnings multiple looks ordinary rather than cheap once that ethical flag is raised.
Interest-rate swings and long-term claims risk remain real, yet the decisive issue stays the screen result. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: its business and earnings are exposed to Canada and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
MFC trades on the NYSE (the company is based in Canada). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-01Markup · changed$44.63+1.8%Entry 10
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 1.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 14% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (1 analysts) rates it buy, with a mean price target of $35.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (1 analysts) rates it buy, with a mean price target of $35.
2026-10-18Markdown$43.86+0.0%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (1 analysts) rates it buy, with a mean price target of $34.
2026-10-11Markdown · changed$43.86+0.0%Entry 7
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (1 analysts) rates it buy, with a mean price target of $34.
2026-10-02Markup$43.86+3.3%Entry 6
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 3.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (1 analysts) rates it buy, with a mean price target of $34.
2026-09-05Markup$42.47-3.6%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 3.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (1 analysts) rates it buy, with a mean price target of $35.
2026-08-05Markup · changed$44.06+13.8%Entry 4
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 13.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (2 analysts) rates it buy, with a mean price target of $33.
2026-07-18Distribution$38.71+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (2 analysts) rates it buy, with a mean price target of $33.
2026-07-03Distribution$38.71+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Distribution$38.71Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
