Manulife Financial Corp (MFC) is overvalued and Unum Group (UNM) is overvalued.
Both trade above our estimate of their intrinsic value. MFC is the closer of the two: -30%, against -65% for UNM.
Values as of the 22 Sept 2026 close.
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
Book value at 0.78x, the multiple a 6.3% return on equity justifies, blended with earnings, values the shares at $56.68; the price of $93.32 is 65% above that value.
Leak Score 27/100 on 3 of 12 signals
| Metric | MFC | UNM |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $44.17 | $93.32 |
| Intrinsic value | $33.92 | $56.68 |
| Margin of safety | -30% | -65% |
| Leak Score | 43/100 (3/12) | 27/100 (3/12) |
| Market cap | $73.3B | $14.8B |
| Revenue growth, 5 years | -5.5% | -0.2% |
| Operating margin | 15.2% | 8.7% |
| Net margin | 9.5% | 5.3% |
| Return on equity | 13.0% | 6.3% |
| Debt to equity | 0.27 | 0.35 |
| P/E | 16.5x | 21.8x |
| Forward P/E | 12.2x | 9.9x |
| P/B | 2.3x | 1.4x |
| Dividend yield | 3.1% | 2.1% |