71/100B44.070
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Q4 FY2026 · Earnings report
EPS estimate 0.84Revenue estimate 7.78B
Q4 FY2026 · Earnings report
EPS estimate 0.84Revenue estimate 7.78B
Manulife Financial total debt 1998–2026What is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.
Manulife Financial's total debt was 15.21B CAD on 30 September 2026, up 13.2% on a year before. At the end of fiscal year 2025 it was 14.66B CAD.
Last updated 14 Nov 2026 · Next report 10 Feb 2027
Total debt
Growth
| Fiscal year | Period ending | Total debt | Growth | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Latest quarter | 30 Sept 2026 | 15.21B | +13.25% | 38.65B | 23.44B | 0.28 |
| FY2025 | 31 Dec 2025 | 14.66B | +3.55% | 14.90B | 236.81M | 0.29 |
| FY2024 | 31 Dec 2024 | 14.16B | +11.17% | 25.79B | 11.63B | 0.27 |
| FY2023 | 31 Dec 2023 | 12.74B | +3.09% | 20.34B | 7.60B | 0.27 |
| FY2022 | 31 Dec 2022 | 12.36B | +4.16% | 19.15B | 6.80B | 0.26 |
| FY2021 | 31 Dec 2021 | 11.86B | -15.23% | 22.59B | 10.73B | 0.21 |
| FY2020 | 31 Dec 2020 | 13.99B | +19.98% | 26.17B | 12.17B | 0.27 |
| FY2019 | 31 Dec 2019 | 11.66B | -13.61% | 20.30B | 8.64B | 0.24 |
| FY2018 | 31 Dec 2018 | 13.50B | +2.51% | 16.22B | 2.71B | 0.29 |
| FY2017 | 31 Dec 2017 | 13.17B | +2.29% | 15.97B | 2.79B | 0.32 |
| FY2016 | 31 Dec 2016 | 12.88B | +34.86% | 15.15B | 2.28B | 0.31 |
| FY2015 | 31 Dec 2015 | 9.55B | +2.55% | 17.89B | 8.34B | 0.23 |
| FY2014 | 31 Dec 2014 | 9.31B | +1.65% | 21.08B | 11.77B | 0.28 |
| FY2013 | 31 Dec 2013 | 9.16B | +2.31% | 13.63B | 4.47B | 0.32 |
| FY2012 | 31 Dec 2012 | 8.95B | +62.69% | 111.36B | 102.41B | 0.35 |
| FY2011 | 31 Dec 2011 | 5.50B | -14.30% | 12.81B | 7.31B | 0.22 |
| FY2010 | 31 Dec 2010 | 6.42B | +39.62% | 11.79B | 5.37B | 0.24 |
| FY2009 | 31 Dec 2009 | 4.60B | -17.36% | 18.78B | 14.18B | 0.16 |
| FY2008 | 31 Dec 2008 | 5.57B | +42.51% | 17.27B | 11.70B | 0.20 |
| FY2007 | 31 Dec 2007 | 3.91B | -18.48% | 12.35B | 8.45B | 0.16 |
| FY2006 | 31 Dec 2006 | 4.79B | -10.58% | 19.32B | 14.53B | 0.19 |
| FY2005 | 31 Dec 2005 | 5.36B | -8.10% | 13.81B | 8.45B | 0.23 |
| FY2004 | 31 Dec 2004 | 5.83B | +419.06% | 17.03B | 11.21B | 0.25 |
| FY2003 | 31 Dec 2003 | 1.12B | -21.80% | 6.74B | 5.62B | 0.12 |
| FY2002 | 31 Dec 2002 | 1.44B | +1.27% | 6.18B | 4.75B | 0.16 |
| FY2001 | 31 Dec 2001 | 1.42B | +141.16% | 5.69B | 4.27B | 0.17 |
| FY2000 | 31 Dec 2000 | 588.00M | +0.78% | 4.67B | 4.08B | 0.08 |
| FY1999 | 31 Dec 1999 | 583.43M | -6.67% | 0.00 | -583.43M | 0.08 |
| FY1998 | 31 Dec 1998 | 625.13M | — | 0.00 | -625.13M | 0.09 |
| Quarter | Period ending | Total debt | Growth on a year before | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 15.21B | +13.25% | 38.65B | 23.44B | 0.28 |
| Q2 FY2026 | 30 Jun 2026 | 14.13B | +6.40% | 37.92B | 23.79B | 0.27 |
| Q1 FY2026 | 31 Mar 2026 | 13.45B | -5.15% | 34.65B | 21.20B | 0.26 |
| Q4 FY2025 | 31 Dec 2025 | 14.66B | +3.55% | 14.90B | 236.81M | 0.29 |
| Q3 FY2025 | 30 Sept 2025 | 13.43B | +1.56% | 25.83B | 12.40B | 0.26 |
| Q2 FY2025 | 30 Jun 2025 | 13.28B | -5.29% | 32.87B | 19.59B | 0.27 |
| Q1 FY2025 | 31 Mar 2025 | 14.18B | +5.57% | 25.36B | 11.19B | 0.27 |
| Q4 FY2024 | 31 Dec 2024 | 14.16B | +11.17% | 25.79B | 11.63B | 0.27 |
| Q3 FY2024 | 30 Sept 2024 | 13.22B | +2.29% | 22.88B | 9.66B | 0.26 |
| Q2 FY2024 | 30 Jun 2024 | 14.02B | +9.93% | 22.10B | 8.08B | 0.28 |
| Q1 FY2024 | 31 Mar 2024 | 13.43B | -0.86% | 21.48B | 8.05B | 0.28 |
| Q4 FY2023 | 31 Dec 2023 | 12.74B | +3.09% | 20.34B | 7.60B | 0.27 |
| Q3 FY2023 | 30 Sept 2023 | 12.93B | -3.81% | 22.14B | 9.21B | 0.27 |
| Q2 FY2023 | 30 Jun 2023 | 12.75B | -1.39% | 21.02B | 8.27B | 0.28 |
| Q1 FY2023 | 31 Mar 2023 | 13.55B | +6.70% | 18.78B | 5.23B | 0.29 |
| Q4 FY2022 | 31 Dec 2022 | 12.36B | +4.16% | 19.15B | 6.80B | 0.26 |
| Q3 FY2022 | 30 Sept 2022 | 13.44B | +13.01% | 20.95B | 7.51B | 0.25 |
| Q2 FY2022 | 30 Jun 2022 | 12.93B | +10.47% | 21.02B | 8.08B | 0.24 |
| Q1 FY2022 | 31 Mar 2022 | 12.69B | -6.12% | 22.07B | 9.38B | 0.23 |
| Q4 FY2021 | 31 Dec 2021 | 11.86B | -15.23% | 22.59B | 10.73B | 0.21 |
| Q3 FY2021 | 30 Sept 2021 | 11.89B | -17.26% | 22.11B | 10.22B | 0.22 |
| Q2 FY2021 | 30 Jun 2021 | 11.71B | -14.34% | 19.72B | 8.02B | 0.22 |
| Q1 FY2021 | 31 Mar 2021 | 13.52B | +14.98% | 22.44B | 8.92B | 0.27 |
| Q4 FY2020 | 31 Dec 2020 | 13.99B | +19.98% | 26.17B | 12.17B | 0.27 |
| Q3 FY2020 | 30 Sept 2020 | 14.37B | +12.51% | 26.97B | 12.60B | 0.27 |
| Q2 FY2020 | 30 Jun 2020 | 13.67B | +7.54% | 26.68B | 13.02B | 0.26 |
| Q1 FY2020 | 31 Mar 2020 | 11.76B | -8.54% | 27.09B | 15.33B | 0.21 |
| Q4 FY2019 | 31 Dec 2019 | 11.66B | -13.61% | 20.30B | 8.64B | 0.24 |
| Q3 FY2019 | 30 Sept 2019 | 12.77B | -4.44% | 18.02B | 5.24B | 0.26 |
| Q2 FY2019 | 30 Jun 2019 | 12.71B | -5.80% | 16.77B | 4.06B | 0.26 |
| Q1 FY2019 | 31 Mar 2019 | 12.86B | -2.46% | 16.10B | 3.24B | 0.27 |
| Q4 FY2018 | 31 Dec 2018 | 13.50B | +2.50% | 16.22B | 2.71B | 0.29 |
| Q3 FY2018 | 30 Sept 2018 | 13.37B | +0.78% | 15.64B | 2.27B | 0.30 |
| Q2 FY2018 | 30 Jun 2018 | 13.49B | +2.43% | 17.23B | 3.74B | 0.30 |
| Q1 FY2018 | 31 Mar 2018 | 13.18B | -4.76% | 17.02B | 3.84B | 0.31 |
| Q4 FY2017 | 31 Dec 2017 | 13.17B | +2.30% | 15.97B | 2.79B | 0.32 |
| Q3 FY2017 | 30 Sept 2017 | 13.27B | -1.88% | 15.25B | 1.99B | 0.31 |
| Q2 FY2017 | 30 Jun 2017 | 13.17B | -2.30% | 15.87B | 2.70B | 0.30 |
| Q1 FY2017 | 31 Mar 2017 | 13.84B | +18.28% | 16.01B | 2.17B | 0.32 |
| Q4 FY2016 | 31 Dec 2016 | 12.88B | +34.86% | 15.15B | 2.28B | 0.31 |
| Q3 FY2016 | 30 Sept 2016 | 13.52B | +58.86% | 18.18B | 4.66B | 0.32 |
| Q2 FY2016 | 30 Jun 2016 | 13.48B | +33.86% | 20.90B | 7.42B | 0.32 |
| Q1 FY2016 | 31 Mar 2016 | 11.70B | +13.52% | 17.86B | 6.16B | 0.29 |
| Q4 FY2015 | 31 Dec 2015 | 9.55B | +2.55% | 17.89B | 8.34B | 0.23 |
| Q3 FY2015 | 30 Sept 2015 | 8.51B | +1.21% | 19.01B | 10.50B | 0.21 |
| Q2 FY2015 | 30 Jun 2015 | 10.07B | +20.97% | 15.65B | 5.58B | 0.26 |
| Q1 FY2015 | 31 Mar 2015 | 10.31B | +9.85% | 18.59B | 8.28B | 0.26 |
| Q4 FY2014 | 31 Dec 2014 | 9.31B | +5.61% | 21.08B | 11.77B | 0.28 |
| Q3 FY2014 | 30 Sept 2014 | 8.41B | -5.05% | 17.97B | 9.56B | 0.26 |
| Q2 FY2014 | 30 Jun 2014 | 8.33B | -6.36% | 14.04B | 5.72B | 0.28 |
| Q1 FY2014 | 31 Mar 2014 | 9.38B | +6.21% | 14.04B | 4.65B | 0.31 |
| Q4 FY2013 | 31 Dec 2013 | 8.82B | -1.53% | 13.63B | 4.81B | 0.31 |
| Q3 FY2013 | 30 Sept 2013 | 8.86B | +62.24% | 14.69B | 5.84B | 0.33 |
| Q2 FY2013 | 30 Jun 2013 | 8.89B | +61.61% | 13.64B | 4.75B | 0.34 |
| Q1 FY2013 | 31 Mar 2013 | 8.83B | +61.44% | 12.13B | 3.30B | 0.35 |
| Q4 FY2012 | 31 Dec 2012 | 8.95B | +62.69% | 111.36B | 102.41B | 0.35 |
| Q3 FY2012 | 30 Sept 2012 | 5.46B | -4.28% | 10.30B | 4.84B | 0.22 |
| Q2 FY2012 | 30 Jun 2012 | 5.50B | -1.61% | 13.01B | 7.51B | 0.22 |
| Q1 FY2012 | 31 Mar 2012 | 5.47B | -5.75% | 12.31B | 6.84B | 0.22 |
| Q4 FY2011 | 31 Dec 2011 | 5.50B | -14.30% | 12.81B | 7.31B | 0.22 |
| Q3 FY2011 | 30 Sept 2011 | 5.70B | -11.68% | 13.80B | 8.10B | 0.23 |
| Q2 FY2011 | 30 Jun 2011 | 5.59B | +23.75% | 12.82B | 7.23B | 0.23 |
| Q1 FY2011 | 31 Mar 2011 | 5.81B | +28.11% | 11.38B | 5.57B | 0.24 |
| Q4 FY2010 | 31 Dec 2010 | 6.42B | +39.62% | 11.79B | 5.37B | 0.24 |
| Q3 FY2010 | 30 Sept 2010 | 6.46B | +14.31% | 14.89B | 8.43B | 0.25 |
| Q2 FY2010 | 30 Jun 2010 | 4.52B | -21.86% | 17.51B | 12.99B | 0.16 |
| Q1 FY2010 | 31 Mar 2010 | 4.53B | -13.58% | 17.29B | 12.76B | 0.16 |
| Q4 FY2009 | 31 Dec 2009 | 4.60B | -17.36% | 18.78B | 14.18B | 0.16 |
| Q3 FY2009 | 30 Sept 2009 | 5.65B | +43.46% | 19.46B | 13.81B | 0.21 |
| Q2 FY2009 | 30 Jun 2009 | 5.78B | +23.84% | 17.11B | 11.33B | 0.21 |
| Q1 FY2009 | 31 Mar 2009 | 5.24B | +35.71% | 18.06B | 12.82B | 0.20 |
| Q4 FY2008 | 31 Dec 2008 | 5.57B | +42.51% | 17.27B | 11.70B | 0.20 |
| Q3 FY2008 | 30 Sept 2008 | 3.94B | -22.22% | 11.63B | 7.69B | 0.16 |
| Q2 FY2008 | 30 Jun 2008 | 4.67B | -12.08% | 12.20B | 7.53B | 0.19 |
| Q1 FY2008 | 31 Mar 2008 | 3.86B | -32.55% | 0.00 | -3.86B | 0.15 |
| Q4 FY2007 | 31 Dec 2007 | 3.91B | -34.06% | 12.35B | 8.45B | 0.16 |
| Q3 FY2007 | 30 Sept 2007 | 5.06B | -3.13% | 0.00 | -5.06B | 0.21 |
| Q2 FY2007 | 30 Jun 2007 | 5.31B | +1.27% | 0.00 | -5.31B | 0.21 |
| Q1 FY2007 | 31 Mar 2007 | 5.73B | +124.65% | 0.00 | -5.73B | 0.21 |
| Q4 FY2006 | 31 Dec 2006 | 5.92B | +10.55% | 10.75B | 4.82B | 0.23 |
| Q3 FY2006 | 30 Sept 2006 | 5.23B | +112.59% | 0.00 | -5.23B | 0.22 |
| Q2 FY2006 | 30 Jun 2006 | 5.24B | +102.32% | 0.00 | -5.24B | 0.22 |
| Q1 FY2006 | 31 Mar 2006 | 2.55B | -12.17% | 0.00 | -2.55B | 0.10 |
| Q4 FY2005 | 31 Dec 2005 | 5.36B | -8.10% | 13.81B | 8.45B | 0.23 |
| Q3 FY2005 | 30 Sept 2005 | 2.46B | -37.56% | 0.00 | -2.46B | 0.11 |
| Q2 FY2005 | 30 Jun 2005 | 2.59B | -60.45% | 0.00 | -2.59B | 0.11 |
| Q1 FY2005 | 31 Mar 2005 | 2.90B | +63.41% | 0.00 | -2.90B | 0.12 |
| Q4 FY2004 | 31 Dec 2004 | 5.83B | +419.06% | 17.03B | 11.21B | 0.25 |
| Q3 FY2004 | 30 Sept 2004 | 3.94B | +191.76% | 0.00 | -3.94B | 0.16 |
| Q2 FY2004 | 30 Jun 2004 | 6.55B | +381.74% | 0.00 | -6.55B | 0.27 |
| Q1 FY2004 | 31 Mar 2004 | 1.78B | +27.83% | 0.00 | -1.78B | 0.18 |
| Q4 FY2003 | 31 Dec 2003 | 1.12B | -21.80% | 6.74B | 5.62B | 0.12 |
| Q3 FY2003 | 30 Sept 2003 | 1.35B | -5.79% | 0.00 | -1.35B | 0.14 |
| Q2 FY2003 | 30 Jun 2003 | 1.36B | -3.22% | 0.00 | -1.36B | 0.14 |
| Q1 FY2003 | 31 Mar 2003 | 1.39B | -1.77% | 0.00 | -1.39B | 0.15 |
| Q4 FY2002 | 31 Dec 2002 | 1.44B | +1.27% | 6.18B | 4.75B | 0.16 |
| Q3 FY2002 | 30 Sept 2002 | 1.43B | +1.08% | 0.00 | -1.43B | 0.15 |
| Q2 FY2002 | 30 Jun 2002 | 1.41B | +1.31% | 0.00 | -1.41B | 0.15 |
| Q1 FY2002 | 31 Mar 2002 | 1.42B | +0.75% | 0.00 | -1.42B | 0.15 |
| Q4 FY2001 | 31 Dec 2001 | 1.42B | +141.16% | 5.69B | 4.27B | 0.17 |
| Q3 FY2001 | 30 Sept 2001 | 1.42B | +140.86% | 0.00 | -1.42B | 0.16 |
| Q2 FY2001 | 30 Jun 2001 | 1.39B | +138.21% | 0.00 | -1.39B | 0.18 |
| Q1 FY2001 | 31 Mar 2001 | 1.40B | +140.65% | 0.00 | -1.40B | 0.17 |
| Q4 FY2000 | 31 Dec 2000 | 588.00M | +0.78% | 4.67B | 4.08B | 0.08 |
| Q3 FY2000 | 30 Sept 2000 | 588.31M | -9.77% | 0.00 | -588.31M | 0.08 |
| Q2 FY2000 | 30 Jun 2000 | 582.30M | — | 0.00 | -582.30M | 0.08 |
| Q1 FY2000 | 31 Mar 2000 | 583.64M | — | 0.00 | -583.64M | 0.08 |
| Q4 FY1999 | 31 Dec 1999 | 583.43M | — | 0.00 | -583.43M | 0.08 |
| Q3 FY1999 | 30 Sept 1999 | 652.01M | — | 0.00 | -652.01M | 0.09 |
Figures in CAD at the end of each period. Net cash is cash and short-term investments less total debt; book value per share is on the diluted share count. The latest column is the most recent quarter.
Total debt counts commercial paper, term debt and lease liabilities.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Free cash flow,Stock buybacks,Balance sheet
Common questions about Manulife Financial's debt
Source: Financial Modeling Prep