Cash flow Sun Life Financial Inc.

Equities

SLF

CA8667961053

Life & Health Insurance

Market Closed - Toronto S.E. Other stock markets 16:00:00 2026-03-05 EST			5-day change	1st Jan Change
89.54 ^CAD	+0.20%		+0.12%	+4.51%

02-13	CIBC on Sun Life Financial's Q4 Earnings	MT
02-13	RBC Raises Price Target on Sun Life Financial to CA$95 From CA$84, Keeps Sector Perform Rating	MT

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Published financial data: SUN LIFE FINANCIAL INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Premiums and Annuity Revenues	23.05B	26.86B	21.36B	22.64B	23.98B
Total Interest And Dividend Income	6.27B	6.15B	1.99B	2.28B	2.16B
Gain (Loss) on Sale of Investments, Total (Rev)	-1.64B	-17.74B	-	-	-
Other Revenues, Total	8B	8.05B	7.5B	8.19B	8.74B
Total Revenues	35.69B	23.32B	30.85B	33.1B	34.88B
Policy Benefits	21.21B	8.85B	15.32B	17.99B	19.01B
Policy Acquisition / Underwriting Costs, Total	-	-	1.38B	1.6B	1.7B
Selling General & Admin Expenses, Total	11.81B	12.18B	10B	8.56B	8.94B
Other Operating Expenses	-	-	-	-	-
Reinsurance Income Or Expense	2.42B	2.14B	-	-	-
Total Operating Expenses	30.59B	18.88B	26.69B	28.15B	29.64B
Operating Income	5.1B	4.44B	4.16B	4.95B	5.24B
Interest Expense, Total	-327M	-445M	-552M	-664M	-526M
Currency Exchange Gains (Loss)	-	-	-23M	49M	-20M
Other Non Operating Income (Expenses)	-	-	67M	-	-
EBT, Excl. Unusual Items	4.77B	4B	3.65B	4.34B	4.69B
Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-170M	-	-	-
Gain (Loss) on Sale of Assets	-	-	102M	-	-
Asset Writedown	-9M	-18M	-	-201M	-88M
Other Unusual Items	-	-	-	163M	-
EBT, Incl. Unusual Items	4.76B	3.81B	3.75B	4.3B	4.6B
Income Tax Expense	727M	621M	461M	1.04B	1.02B
Earnings From Continuing Operations	4.04B	3.19B	3.29B	3.26B	3.59B
Net Income to Company	4.04B	3.19B	3.29B	3.26B	3.59B
Minority Interest	-	-56M	-126M	-128M	-37M
Net Income - (IS)	4.04B	3.13B	3.16B	3.13B	3.55B
Preferred Dividend and Other Adjustments	101M	70M	79M	80M	79M
Net Income to Common Incl Extra Items	3.93B	3.06B	3.09B	3.05B	3.47B
Net Income to Common Excl. Extra Items	3.93B	3.06B	3.09B	3.05B	3.47B
Per Share Items
Net EPS - Basic	6.71	5.22	5.27	5.27	6.17
Basic EPS - Continuing Operations	6.71	5.22	5.27	5.27	6.17
Basic Weighted Average Shares Outstanding	586M	586M	586M	579M	563M
Net EPS - Diluted	6.68	5.21	5.26	5.26	6.15
Diluted EPS - Continuing Operations	6.68	5.21	5.26	5.26	6.15
Diluted Weighted Average Shares Outstanding	590M	589M	589M	582M	566M
Normalized Basic EPS	5.09	4.17	3.68	4.46	5.14
Normalized Diluted EPS	5.05	4.14	3.66	4.44	5.12
Dividend Per Share	2.31	2.76	3	3.24	3.52
Payout Ratio	35.39	53.39	59.46	62.7	58.12
Supplemental Items
EBITDA	5.46B	4.86B	4.64B	5.47B	5.75B
EBITA	5.21B	4.61B	4.39B	5.21B	5.48B
EBIT	5.1B	4.44B	4.16B	4.95B	5.24B
Total Revenues (As Reported)	35.69B	23.32B	-	-	-
Effective Tax Rate - (Ratio)	15.27	16.31	12.29	24.2	22.07
Total Current Taxes	923M	714M	1.35B	977M	1.06B
Total Deferred Taxes	-196M	-93M	-885M	63M	-42M
Normalized Net Income	2.98B	2.44B	2.16B	2.58B	2.9B
Interest on Long-Term Debt	186M	279M	241M	250M	267M
Non-Cash Pension Expense	7M	6M	-3M	3M	4M
Supplemental Operating Expense Items
Stock-Based Comp., SG&A Exp. (Total)	757M	227M	491M	610M	498M
Stock-Based Comp., Other (Total)	529M	168M	309M	-	-
Total Stock-Based Compensation	1.29B	395M	800M	610M	498M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Investment In Debt Securities	12.73B	13.14B	14.31B	13.85B	13.02B
Investment In Equity and Preferred Securities, Total	1.58B	324M	1.72B	1.9B	1.76B
Trading Asset Securities, Total	88.91B	75.83B	68.67B	78.4B	84.98B
Real Estate Owned	9.11B	10.1B	9.72B	9.29B	9.43B
Mortgage Loans	15.48B	15.36B	14.14B	14.44B	13.6B
Policy Loans	3.26B	3.35B	-	-	-
Total Other Investments	8.78B	7.51B	12.36B	17.05B	19.53B
Total investments	140B	126B	121B	135B	142B
Cash And Equivalents	7.83B	9.38B	11.17B	10.13B	9.68B
Reinsurance Recoverable - (IS)	3.68B	4.8B	5.79B	6.32B	6.14B
Other Receivables - (Insurance Template)	39.58B	45.89B	44.18B	47.45B	51.2B
Deferred Policy Acquisition Costs - (BS)	172M	158M	152M	157M	142M
Separate Account Assets	140B	125B	128B	149B	167B
Net Property Plant And Equipment	1.31B	1.36B	1.45B	1.4B	1.44B
Goodwill	6.52B	8.7B	8.97B	9.46B	9.53B
Other Intangibles, Total	3.37B	4.72B	5.17B	5.06B	5.16B
Other Current Assets, Total	1.05B	2.48B	2.9B	2.92B	2.26B
Deferred Tax Assets Long-Term (Collected)	1.85B	2.28B	3.88B	3.91B	3.8B
Other Long-Term Assets, Total	176M	213M	185M	213M	199M
Total Assets	345B	331B	333B	371B	398B
Liabilities
Accounts Payable, Total	1.87B	2.64B	2.49B	2.56B	2.14B
Accrued Expenses, Total	4.26B	4.21B	4.43B	4.9B	5.15B
Insurance And Annuity Liabilities	148B	140B	136B	147B	156B
Reinsurance Payable - (BS)	-	-	1.62B	1.82B	2.05B
Current Portion of Long-Term Debt	441M	2.34B	2.4B	2.13B	1.75B
Current Portion of Leases	151M	168M	188M	166M	167M
Short-Term Borrowings	2.46B	2.73B	2.7B	3.02B	2.95B
Long-Term Debt	11.01B	13.26B	12.69B	14.48B	17.19B
Long-Term Leases	699M	784M	801M	780M	757M
Trust Preferred Securities (BS)	200M	200M	200M	200M	200M
Separate Account Liability	140B	125B	128B	149B	167B
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	-	-	-	-	-
Pension & Other Post Retirement Benefits	528M	268M	355M	351M	334M
Deferred Tax Liability Non-Current	322M	630M	281M	286M	301M
Other Non Current Liabilities	7.55B	8.58B	16.74B	17.84B	17.5B
Total Liabilities	317B	302B	309B	345B	373B
Preferred Stock Redeemable	2.24B	2.24B	2.24B	2.24B	2.24B
Total Preferred Equity	2.24B	2.24B	2.24B	2.24B	2.24B
Common Stock, Total	8.3B	8.31B	8.33B	8.19B	7.9B
Additional Paid In Capital	71M	90M	94M	95M	81M
Retained Earnings	14.71B	16.16B	12.16B	12.6B	12.93B
Comprehensive Income and Other	2.69B	2.49B	1.22B	2.92B	2.08B
Total Common Equity	25.78B	27.05B	21.8B	23.81B	22.99B
Minority Interest	59M	90M	161M	76M	264M
Total Equity	28.07B	29.38B	24.2B	26.13B	25.49B
Total Liabilities And Equity	345B	331B	333B	371B	398B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	586M	586M	585M	573M	554M
ECS Total Common Shares Outstanding	586M	586M	585M	574M	554M
Book Value / Share	43.98	46.13	37.29	41.5	41.51
Tangible Book Value	15.89B	13.62B	7.66B	9.3B	8.3B
Tangible Book Value Per Share	27.11	23.22	13.1	16.2	14.99
Total Debt	14.96B	19.49B	18.99B	20.77B	23.01B
Net Debt	7.13B	10.11B	7.82B	10.64B	13.33B
Debt Equivalent of Unfunded Proj. Benefit Obligation	193M	-36M	90M	72M	41M
Minority Interest, Total (Incl. Fin. Div)	59M	90M	161M	76M	264M
Equity Method Investments, Total	-	-	1.66B	1.83B	1.69B
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	-	29.17K	30.94K	31.77K	32.15K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	4.04B	3.13B	3.16B	3.13B	3.55B
Depreciation, Depletion & Amortization	245M	241M	249M	262M	266M
Amortization of Goodwill and Intangible Assets - (CF)	114M	174M	231M	259M	247M
Total Depreciation, Depletion & Amortization	359M	415M	480M	521M	513M
Amortization of Deferred Charges, Total	79M	113M	113M	218M	178M
(Gain) Loss on Sale of Investments - (CF)	1.64B	17.74B	-4.66B	129M	-765M
Net (Increase) Decrease in Loans Originated / Sold - Operating	95M	151M	-39M	-265M	-423M
Reinsurance Recoverable - (CF)	86M	-951M	10M	-136M	25M
Change in insurance Reserves / Liabilities	2.42B	-11.21B	6.77B	2.13B	3.22B
Change in Other Net Operating Assets (Collected)	-	-	331M	393M	323M
Other Operating Activities	-10.56B	-5.07B	-560M	-3.59B	-3.82B
Cash from Operations	-1.86B	4.31B	5.61B	2.53B	2.8B
Capital Expenditure	-81M	-	-172M	-143M	-145M
Sale of Property, Plant, and Equipment	-	71M	-	-	-
Cash Acquisitions	-412M	-2.63B	-439M	-	25M
Divestitures	-	-	297M	-	-
Investment in Marketable and Equity Securities, Total	-29M	-69M	-75M	-17M	-44M
Other Investing Activities, Total	-281M	-232M	-170M	-177M	-156M
Cash from Investing	-803M	-2.86B	-559M	-337M	-320M
Long-Term Debt Issued, Total	2.13B	2.43B	638M	769M	2.02B
Total Debt Issued	2.13B	2.43B	638M	769M	2.02B
Long-Term Debt Repaid, Total	-793M	-570M	-1.25B	-1.26B	-488M
Total Debt Repaid	-793M	-570M	-1.25B	-1.26B	-488M
Issuance of Common Stock	36M	6M	49M	43M	37M
Repurchase of Common Stock	-	-	-186M	-855M	-1.71B
Issuance of Preferred Stock	987M	-	-	-	-
Repurchase of Preferred Stock	-1.02B	-	-	-	-
Common & Preferred Stock Dividends Paid	-1.43B	-1.67B	-1.88B	-1.96B	-2.06B
Common & Preferred Stock Dividends Paid	-1.43B	-1.67B	-1.88B	-1.96B	-2.06B
Other Financing Activities, Total	-168M	-268M	-457M	-612M	-433M
Cash from Financing	-260M	-71M	-3.09B	-3.88B	-2.64B
Foreign Exchange Rate Adjustments	-35M	302M	-169M	471M	-198M
Net Change in Cash	-2.96B	1.68B	1.8B	-1.22B	-355M
Supplemental Items
Cash Interest Paid	187M	270M	405M	389M	355M
Cash Income Tax Paid (Refund)	1.03B	795M	1.24B	1.14B	978M
Net Debt Issued / Repaid	1.34B	1.86B	-610M	-496M	1.53B
Levered Free Cash Flow	2.81B	15.67B	2.32B	-7.93B	-4.23B
Unlevered Free Cash Flow	3.01B	15.95B	2.67B	-7.52B	-3.9B
Change In Net Working Capital	1.82B	-12.25B	1.15B	11.82B	8.22B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	0.95	0.82	0.79	0.88	0.85
Return on Total Capital	7.94	6.04	6.07	6.87	6.86
Return On Equity %	14.96	11.09	13.98	12.94	13.9
Return on Common Equity	15.94	11.59	14.57	13.37	14.84
Margin Analysis
Gross Profit Margin %	40.58	62.07	45.88	40.83	40.65
SG&A Margin	33.09	52.21	32.41	25.87	25.63
EBITDA Margin %	15.29	20.82	15.03	16.53	16.49
EBITA Margin %	14.6	19.78	14.23	15.74	15.73
EBIT Margin %	14.28	19.04	13.48	14.95	15.02
Income From Continuing Operations Margin %	11.31	13.66	10.67	9.84	10.29
Net Income Margin %	11.31	13.42	10.26	9.45	10.18
Net Avail. For Common Margin %	11.02	13.12	10	9.21	9.95
Normalized Net Income Margin	8.36	10.47	6.99	7.8	8.3
Levered Free Cash Flow Margin	7.87	67.19	7.53	-23.96	-12.12
Unlevered Free Cash Flow Margin	8.44	68.38	8.65	-22.71	-11.17
Asset Turnover
Asset Turnover	0.11	0.07	0.09	0.09	0.09
Fixed Assets Turnover	26.43	17.49	21.95	23.21	24.52
Receivables Turnover (Average Receivables)	46.62	44.65	180.3	92.45	75.78
Short Term Liquidity
Current Ratio	11.91	8.21	6.81	7.25	8
Quick Ratio	11.27	7.5	6.1	6.53	7.33
Operating Cash Flow to Current Liabilities	-0.2	0.36	0.41	0.17	0.2
Days Sales Outstanding (Average Receivables)	7.83	8.18	2.02	3.96	4.82
Average Days Payable Outstanding	37.04	92.94	88.25	79.41	75.58
Long Term Solvency
Total Debt/Equity	53.27	66.33	78.48	79.49	90.27
Total Debt / Total Capital	34.76	39.88	43.97	44.29	47.44
LT Debt/Equity	42.41	48.5	56.58	59.18	71.19
Long-Term Debt / Total Capital	27.67	29.16	31.7	32.97	37.42
Total Liabilities / Total Assets	91.87	91.12	92.74	92.95	93.6
EBIT / Interest Expense	15.59	9.98	7.53	7.45	9.96
EBITDA / Interest Expense	16.69	10.91	8.4	8.24	10.93
(EBITDA - Capex) / Interest Expense	16.44	10.91	8.09	8.02	10.66
Total Debt / EBITDA	2.74	4.01	4.09	3.8	4
Net Debt / EBITDA	1.31	2.08	1.69	1.94	2.32
Total Debt / (EBITDA - Capex)	2.78	4.01	4.25	3.9	4.1
Net Debt / (EBITDA - Capex)	1.33	2.08	1.75	2	2.38
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-17.65	-34.65	11.1	7.3	5.36
Gross Profit, 1 Yr. Growth %	26.5	-0.03	9.61	11.21	4.9
EBITDA, 1 Yr. Growth %	47.57	-11.03	1.13	17.83	5.12
EBITA, 1 Yr. Growth %	51.16	-11.47	1.01	18.55	5.3
EBIT, 1 Yr. Growth %	51.28	-12.91	-0.31	18.9	5.82
Earnings From Cont. Operations, 1 Yr. Growth %	60.82	-21.04	9.81	-1.03	10.16
Net Income, 1 Yr. Growth %	61.53	-22.43	7.62	-1.14	13.49
Normalized Net Income, 1 Yr. Growth %	59.17	-18.14	-5.3	19.6	12.17
Diluted EPS Before Extra, 1 Yr. Growth %	63.1	-22.03	7.46	-0.01	17.05
Net Property, Plant and Equip., 1 Yr. Growth %	-6.24	4.06	6.69	-3.45	3.07
Accounts Receivable, 1 Yr. Growth %	2.58	32.18	145.33	92.93	-5.63
Total Assets, 1 Yr. Growth %	6.92	-4.19	2.98	11.25	7.48
Common Equity, 1 Yr. Growth %	9.31	4.94	6.04	9.24	-3.46
Tangible Book Value, 1 Yr. Growth %	5.7	-14.28	7.41	21.46	-10.71
Cash From Operations, 1 Yr. Growth %	-125.6	-332.15	30.18	-54.88	10.54
Capital Expenditures, 1 Yr. Growth %	-48.73	-	-	-16.86	1.4
Levered Free Cash Flow, 1 Yr. Growth %	-133.72	457.87	-90.78	-493.1	-46.72
Unlevered Free Cash Flow, 1 Yr. Growth %	-137.16	429.26	-89.53	-418.14	-48.16
Dividend Per Share, 1 Yr. Growth %	5	19.48	8.7	8	8.64
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-5.16	-26.64	-7.02	9.19	6.33
Gross Profit, 2 Yr. CAGR %	29.43	12.45	-1.13	2.3	8.01
EBITDA, 2 Yr. CAGR %	22.17	14.58	-7.81	9.22	11.29
EBITA, 2 Yr. CAGR %	23.54	15.68	-8.23	9.49	11.73
EBIT, 2 Yr. CAGR %	23.34	14.78	-9.69	8.94	12.17
Earnings From Cont. Operations, 2 Yr. CAGR %	21.86	12.69	-9.69	4.25	4.41
Net Income, 2 Yr. CAGR %	21.95	11.94	-11.43	3.15	5.92
Normalized Net Income, 2 Yr. CAGR %	25.87	14.15	-14.98	6.5	15.82
Diluted EPS Before Extra, 2 Yr. CAGR %	23.23	12.77	-11.33	3.66	8.18
Net Property, Plant and Equip., 2 Yr. CAGR %	-3.38	-1.23	5.36	1.5	-0.24
Accounts Receivable, 2 Yr. CAGR %	-1.91	16.44	-46.25	117.56	34.93
Total Assets, 2 Yr. CAGR %	7.8	1.21	-1.77	7.03	9.35
Common Equity, 2 Yr. CAGR %	7.67	7.1	-8.03	7.63	2.69
Tangible Book Value, 2 Yr. CAGR %	5.34	-4.81	-30.58	14.22	4.14
Cash From Operations, 2 Yr. CAGR %	-13.36	-22.9	73.84	-23.36	-29.38
Capital Expenditures, 2 Yr. CAGR %	-15.71	-	45.72	-	-8.18
Levered Free Cash Flow, 2 Yr. CAGR %	-29.04	37.16	-9.04	-43.9	44.72
Unlevered Free Cash Flow, 2 Yr. CAGR %	-25.1	40.25	-5.89	-45.68	28.43
Dividend Per Share, 2 Yr. CAGR %	4.88	12.01	13.96	8.35	8.32
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	9.75	-16.23	-10.71	-2.48	7.9
Gross Profit, 3 Yr. CAGR %	20.37	18.75	7.33	-2.28	3.16
EBITDA, 3 Yr. CAGR %	14.05	9.92	7.84	0.09	7.84
EBITA, 3 Yr. CAGR %	13.43	10.55	8.38	-0.02	8.08
EBIT, 3 Yr. CAGR %	13.16	9.83	7.26	-0.98	7.89
Earnings From Cont. Operations, 3 Yr. CAGR %	15.54	5.45	9.47	-6.89	6.18
Net Income, 3 Yr. CAGR %	15.54	4.88	8.21	-8.13	6.48
Normalized Net Income, 3 Yr. CAGR %	14.09	9.05	4.78	-4.69	8.36
Diluted EPS Before Extra, 3 Yr. CAGR %	17.28	5.79	8.65	-7.7	7.94
Net Property, Plant and Equip., 3 Yr. CAGR %	28.15	-0.96	1.34	2.34	2.02
Accounts Receivable, 3 Yr. CAGR %	3.96	8.35	-33.33	-17.71	64.69
Total Assets, 3 Yr. CAGR %	8.31	3.65	1.04	2.39	7.18
Common Equity, 3 Yr. CAGR %	4.93	6.75	-2.58	-2.6	3.8
Tangible Book Value, 3 Yr. CAGR %	1.66	-1.65	-20.14	-16.35	5.22
Cash From Operations, 3 Yr. CAGR %	-21.47	20.34	-8.2	10.89	-13.41
Capital Expenditures, 3 Yr. CAGR %	-1.59	-	2.87	20.86	-
Levered Free Cash Flow, 3 Yr. CAGR %	0.6	41.09	-34.66	41.35	-44.86
Unlevered Free Cash Flow, 3 Yr. CAGR %	0.71	43.73	-30.95	35.63	-46.52
Dividend Per Share, 3 Yr. CAGR %	6.64	9.54	10.89	11.94	8.45
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	4.55	-4.48	2.7	-3.56	-4.25
Gross Profit, 5 Yr. CAGR %	21.18	22.43	11.26	9.35	4.37
EBITDA, 5 Yr. CAGR %	8.34	9.69	4.75	8.4	9.23
EBITA, 5 Yr. CAGR %	7.91	9.28	4.21	8.81	9.73
EBIT, 5 Yr. CAGR %	7.71	8.84	3.4	8.12	9.22
Earnings From Cont. Operations, 5 Yr. CAGR %	9.35	7.28	4.7	3.69	7.42
Net Income, 5 Yr. CAGR %	9.35	6.9	3.88	2.89	7.29
Normalized Net Income, 5 Yr. CAGR %	8.32	8.44	1.42	6.52	9.1
Diluted EPS Before Extra, 5 Yr. CAGR %	10.65	8.33	4.87	3.61	8.46
Net Property, Plant and Equip., 5 Yr. CAGR %	14.68	16.86	18.5	0.01	0.71
Accounts Receivable, 5 Yr. CAGR %	4.71	10.03	-20.16	-11.72	-11.61
Total Assets, 5 Yr. CAGR %	5.99	4.22	4.16	4.52	4.29
Common Equity, 5 Yr. CAGR %	5.09	5.48	-0.46	1.38	-0.51
Tangible Book Value, 5 Yr. CAGR %	3.95	-0.36	-12.72	-8.27	-11.19
Cash From Operations, 5 Yr. CAGR %	-12.73	16.79	7.92	0.46	-17.34
Capital Expenditures, 5 Yr. CAGR %	-9.17	-	15.14	4.64	-1.7
Levered Free Cash Flow, 5 Yr. CAGR %	30.97	55.23	-3.38	7.29	-12.69
Unlevered Free Cash Flow, 5 Yr. CAGR %	41.48	52.59	-1.98	6.96	-13.63
Dividend Per Share, 5 Yr. CAGR %	7.35	9.6	9.51	9.06	9.86