Metlife Inc (MET) is overvalued and Manulife Financial Corp (MFC) is overvalued.
Both trade above our estimate of their intrinsic value. MFC is the closer of the two: -30%, against -33% for MET.
Values as of the 22 Sept 2026 close.
Book value at 1.64x, the multiple a 13.2% return on equity justifies, blended with earnings, values the shares at $71.92; the price of $95.92 is 33% above that value.
Leak Score 55/100 on 9 of 12 signals
Book value at 1.57x, the multiple a 13.0% return on equity justifies, blended with earnings, values the shares at $33.92; the price of $44.17 is 30% above that value.
Leak Score 43/100 on 3 of 12 signals
| Metric | MET | MFC |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $95.92 | $44.17 |
| Intrinsic value | $71.92 | $33.92 |
| Margin of safety | -33% | -30% |
| Leak Score | 55/100 (9/12) | 43/100 (3/12) |
| Market cap | $61.0B | $73.3B |
| Revenue growth, 5 years | 2.6% | -5.5% |
| Operating margin | 7.7% | 15.2% |
| Net margin | 4.3% | 9.5% |
| Return on equity | 13.2% | 13.0% |
| Debt to equity | 0.79 | 0.27 |
| P/E | 18.4x | 16.5x |
| Forward P/E | 8.6x | 12.2x |
| P/B | 2.2x | 2.3x |
| Dividend yield | 2.4% | 3.1% |