Manulife's core earnings rise 4% driven by Asia, but net income drops 22% amid valuation concerns

Manulife Financial Corporation reported a 4% year-over-year increase in core earnings to C$2.125 billion, largely driven by strong growth in its Asian markets, especially Hong Kong and Japan. However, the company's reported net income fell 22% due to weaker returns from alternative assets. Despite record core earnings and momentum in Asia, Manulife's valuation has expanded faster than its profitability growth, reflected in a price-to-book ratio over 2 and a forward price-to-earnings ratio of 17, which limits upside potential. The company faces risks if profitability growth slows, particularly as mainland China experienced a sharp decline in annual premium equivalent sales.

Manulife Financial Corporation's stock is trading at USD 43.92 on Pluang as of Nov 13, 2026 16:01 WIB, close to its 52-week high of USD 45.93 and well above the 52-week low of USD 33.40. Despite the stock's price stability with a 1-day change of 0.00%, its valuation remains elevated with a price-to-book ratio over 2. The dividend yield stands at 3.12%, while investor interest on Pluang shows a full 100% buy order activity, indicating strong demand despite concerns over valuation.