Manulife Financial Corp (MFC) — Tangible Net Worth Ratio
Manulife Financial Corp (MFC) has a Tangible Net Worth Ratio of 89.6% as of December 2025. This metric is calculated by deducting intangible assets (CA$5.45 Billion) from net assets (CA$52.49 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. Also explore Manulife Financial Corp equity growth rate to track the company's year-over-year net asset growth rate.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Manulife Financial Corp Tangible Net Worth Ratio (1998–2025)
This chart shows how Manulife Financial Corp's Tangible Net Worth Ratio has changed across 28 annual periods from 1998 to 2025. As of December 2025, the ratio stands at 89.6%, reflecting net assets of CA$52.49 Billion with intangible assets of CA$5.45 Billion CAD. For live market cap and overall valuation, see MFC market cap.
Annual Tangible Net Worth Ratio for Manulife Financial Corp (1998–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for Manulife Financial Corp from 1998 to 2025, covering 28 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. Explore Manulife Financial Corp capital reinvestment ratio to see what proportion of operating cash flow is directed to capital expenditures.
| Year | Tangible NW Ratio | Net Assets (CAD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 89.6% | CA$52.49 Billion | CA$5.45 Billion | CA$1.03 Trillion | ▼ -1.4 pp |
| 2024 | 91.0% | CA$52.96 Billion | CA$4.78 Billion | CA$978.82 Billion | ▼ 0.0 pp |
| 2023 | 91.0% | CA$48.73 Billion | CA$4.39 Billion | CA$875.57 Billion | ▼ -1.0 pp |
| 2022 | 92.0% | CA$56.38 Billion | CA$4.50 Billion | CA$848.94 Billion | ▼ -0.7 pp |
| 2021 | 92.8% | CA$58.87 Billion | CA$4.26 Billion | CA$917.64 Billion | ▲ +0.7 pp |
| 2020 | 92.0% | CA$53.01 Billion | CA$4.21 Billion | CA$880.35 Billion | ▼ -7.4 pp |
| 2019 | 99.5% | CA$795.50 Billion | CA$4.23 Billion | CA$809.13 Billion | ▲ +8.4 pp |
| 2018 | 91.0% | CA$47.15 Billion | CA$4.23 Billion | CA$750.27 Billion | ▲ +0.8 pp |
| 2017 | 90.2% | CA$42.16 Billion | CA$4.13 Billion | CA$729.53 Billion | ▲ +0.1 pp |
| 2016 | 90.1% | CA$42.82 Billion | CA$4.22 Billion | CA$720.68 Billion | ▼ -1.0 pp |
| 2015 | 91.2% | CA$41.94 Billion | CA$3.70 Billion | CA$704.64 Billion | ▼ -2.1 pp |
| 2014 | 93.3% | CA$33.93 Billion | CA$2.28 Billion | CA$579.41 Billion | ▲ +0.8 pp |
| 2013 | 92.5% | CA$29.03 Billion | CA$2.19 Billion | CA$513.63 Billion | ▲ +0.2 pp |
| 2012 | 92.3% | CA$26.10 Billion | CA$2.01 Billion | CA$486.06 Billion | ▲ +0.5 pp |
| 2011 | 91.8% | CA$24.88 Billion | CA$2.04 Billion | CA$462.10 Billion | ▼ -1.1 pp |
| 2010 | 92.9% | CA$26.87 Billion | CA$1.92 Billion | CA$217.67 Billion | ▼ -0.2 pp |
| 2009 | 93.1% | CA$28.91 Billion | CA$2.00 Billion | CA$205.14 Billion | ▼ -0.1 pp |
| 2008 | 93.2% | CA$27.45 Billion | CA$1.87 Billion | CA$211.03 Billion | ▼ -0.4 pp |
| 2007 | 93.6% | CA$24.48 Billion | CA$1.57 Billion | CA$176.46 Billion | ▲ +0.2 pp |
| 2006 | 93.4% | CA$25.86 Billion | CA$1.71 Billion | CA$186.17 Billion | ▲ +0.7 pp |
| 2005 | 92.7% | CA$23.97 Billion | CA$1.74 Billion | CA$181.81 Billion | ▲ +0.1 pp |
| 2004 | 92.6% | CA$24.49 Billion | CA$1.81 Billion | CA$184.25 Billion | ▼ -7.4 pp |
| 2003 | 100.0% | CA$10.29 Billion | CA$0.00 | CA$77.52 Billion | ▲ +0.0 pp |
| 2002 | 100.0% | CA$9.81 Billion | CA$0.00 | CA$81.19 Billion | ▲ +0.0 pp |
| 2001 | 100.0% | CA$9.36 Billion | CA$0.00 | CA$78.61 Billion | ▲ +0.0 pp |
| 2000 | 100.0% | CA$8.28 Billion | CA$0.00 | CA$60.16 Billion | ▲ +0.0 pp |
| 1999 | 100.0% | CA$7.96 Billion | CA$0.00 | CA$56.89 Billion | ▲ +0.0 pp |
| 1998 | 100.0% | CA$6.81 Billion | CA$0.00 | CA$52.50 Billion | — |