Financial Ratios Sun Life Financial Inc.

Equities

SLF

CA8667961053

Life & Health Insurance

Market Closed - Toronto S.E. Other stock markets 16:00:00 2026-02-11 EST			5-day change	1st Jan Change
88.07 ^CAD	-0.78%		-1.73%	+2.79%

02-11	Sun Life Financial Inc. Reports Earnings Results for the Full Year Ended December 31, 2025	CI
02-11	Sun Life Financial Q4 Underlying Earnings Rise	MT

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Published financial data: SUN LIFE FINANCIAL INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Premiums and Annuity Revenues	23.74B	23.05B	26.86B	21.36B	22.64B
Total Interest And Dividend Income	5.41B	6.27B	6.15B	1.99B	2.28B
Gain (Loss) on Sale of Investments, Total (Rev)	7.31B	-1.64B	-17.74B	-	-
Other Revenues, Total	6.88B	8B	8.05B	7.5B	8.19B
Total Revenues	43.34B	35.69B	23.32B	30.85B	33.1B
Policy Benefits	31.89B	21.21B	8.85B	15.32B	17.99B
Policy Acquisition / Underwriting Costs, Total	2.61B	-	-	1.38B	1.6B
Selling General & Admin Expenses, Total	7.39B	11.81B	12.18B	10B	8.56B
Other Operating Expenses	428M	-	-	-	-
Reinsurance Income Or Expense	2.35B	2.42B	2.14B	-	-
Total Operating Expenses	39.97B	30.59B	18.88B	26.69B	28.15B
Operating Income	3.37B	5.1B	4.44B	4.16B	4.95B
Interest Expense, Total	-355M	-327M	-445M	-552M	-664M
Currency Exchange Gains (Loss)	-	-	-	-23M	49M
Other Non Operating Income (Expenses)	-	-	-	67M	-
EBT, Excl. Unusual Items	3.02B	4.77B	4B	3.65B	4.34B
Restructuring Charges	-	-	-	-	-
Total Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-170M	-	-
Gain (Loss) on Sale of Assets	-	-	-	102M	-
Asset Writedown	-11M	-9M	-18M	-	-201M
Other Unusual Items	-	-	-	-	163M
EBT, Incl. Unusual Items	3B	4.76B	3.81B	3.75B	4.3B
Income Tax Expense	495M	727M	621M	461M	1.04B
Earnings From Continuing Operations	2.51B	4.04B	3.19B	3.29B	3.26B
Net Income to Company	2.51B	4.04B	3.19B	3.29B	3.26B
Minority Interest	-11M	-	-56M	-126M	-128M
Net Income - (IS)	2.5B	4.04B	3.13B	3.16B	3.13B
Preferred Dividend and Other Adjustments	94M	101M	70M	79M	80M
Net Income to Common Incl Extra Items	2.4B	3.93B	3.06B	3.09B	3.05B
Net Income to Common Excl. Extra Items	2.4B	3.93B	3.06B	3.09B	3.05B
Per Share Items
Net EPS - Basic	4.11	6.71	5.22	5.27	5.27
Basic EPS - Continuing Operations	4.11	6.71	5.22	5.27	5.27
Basic Weighted Average Shares Outstanding	585M	586M	586M	586M	579M
Net EPS - Diluted	4.1	6.68	5.21	5.26	5.26
Diluted EPS - Continuing Operations	4.1	6.68	5.21	5.26	5.26
Diluted Weighted Average Shares Outstanding	589M	590M	589M	589M	582M
Normalized Basic EPS	3.2	5.09	4.17	3.68	4.46
Normalized Diluted EPS	3.18	5.05	4.14	3.66	4.44
Dividend Per Share	2.2	2.31	2.76	3	3.24
Payout Ratio	54.44	35.39	53.39	59.46	62.7
Supplemental Items
EBITDA	3.7B	5.46B	4.86B	4.64B	5.47B
EBITA	3.45B	5.21B	4.61B	4.39B	5.21B
EBIT	3.37B	5.1B	4.44B	4.16B	4.95B
Total Revenues (As Reported)	43.34B	35.69B	23.32B	-	-
Effective Tax Rate - (Ratio)	16.48	15.27	16.31	12.29	24.2
Total Current Taxes	866M	923M	714M	1.35B	977M
Total Deferred Taxes	-371M	-196M	-93M	-885M	63M
Normalized Net Income	1.87B	2.98B	2.44B	2.16B	2.58B
Interest on Long-Term Debt	209M	186M	279M	241M	250M
Non-Cash Pension Expense	11M	7M	6M	-3M	3M
Supplemental Operating Expense Items
Stock-Based Comp., SG&A Exp. (Total)	540M	757M	227M	491M	610M
Stock-Based Comp., Other (Total)	-	529M	168M	309M	384M
Total Stock-Based Compensation	540M	1.29B	395M	800M	994M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Investment In Debt Securities	11.26B	12.73B	13.14B	14.31B	13.85B
Investment In Equity and Preferred Securities, Total	262M	1.58B	324M	1.72B	1.9B
Trading Asset Securities, Total	88.95B	88.91B	75.83B	68.67B	78.4B
Real Estate Owned	7.52B	9.11B	10.1B	9.72B	9.29B
Mortgage Loans	15.43B	15.48B	15.36B	14.14B	14.44B
Policy Loans	3.26B	3.26B	3.35B	-	-
Total Other Investments	5.31B	8.78B	7.51B	12.36B	17.05B
Total investments	132B	140B	126B	121B	135B
Cash And Equivalents	10.65B	7.83B	9.38B	11.17B	10.13B
Reinsurance Recoverable - (IS)	3.84B	3.68B	4.8B	5.79B	6.32B
Other Receivables - (Insurance Template)	37.46B	39.58B	45.89B	44.18B	47.45B
Deferred Policy Acquisition Costs - (BS)	150M	172M	158M	152M	157M
Separate Account Assets	126B	140B	125B	128B	149B
Gross Property Plant And Equipment	-	-	-	-	-
Accumulated Depreciation	-	-	-	-	-
Net Property Plant And Equipment	1.39B	1.31B	1.36B	1.45B	1.4B
Goodwill	6.07B	6.52B	8.7B	8.97B	9.46B
Other Intangibles, Total	2.48B	3.37B	4.72B	5.17B	5.06B
Other Current Assets, Total	1.08B	1.05B	2.48B	2.9B	2.92B
Deferred Tax Assets Long-Term (Collected)	1.63B	1.85B	2.28B	3.88B	3.91B
Other Long-Term Assets, Total	344M	176M	213M	185M	213M
Total Assets	323B	345B	331B	333B	371B
Liabilities
Accounts Payable, Total	2.44B	1.87B	2.64B	2.49B	2.56B
Accrued Expenses, Total	3.72B	4.26B	4.21B	4.43B	4.9B
Insurance And Annuity Liabilities	146B	148B	140B	136B	147B
Reinsurance Payable - (BS)	-	-	-	1.62B	1.82B
Current Portion of Long-Term Debt	300M	441M	2.34B	2.4B	2.13B
Current Portion of Leases	-	151M	168M	188M	166M
Short-Term Borrowings	2.21B	2.46B	2.73B	2.7B	3.02B
Long-Term Debt	7.77B	11.01B	13.26B	12.69B	14.48B
Long-Term Leases	864M	699M	784M	801M	780M
Trust Preferred Securities (BS)	200M	200M	200M	200M	200M
Separate Account Liability	126B	140B	125B	128B	149B
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	-	-	-	-	-
Pension & Other Post Retirement Benefits	625M	528M	268M	355M	351M
Deferred Tax Liability Non-Current	383M	322M	630M	281M	286M
Other Non Current Liabilities	6.94B	7.55B	8.58B	16.74B	17.84B
Total Liabilities	297B	317B	302B	309B	345B
Preferred Stock Redeemable	2.26B	2.24B	2.24B	2.24B	2.24B
Total Preferred Equity	2.26B	2.24B	2.24B	2.24B	2.24B
Common Stock, Total	8.26B	8.3B	8.31B	8.33B	8.19B
Additional Paid In Capital	72M	71M	90M	94M	95M
Retained Earnings	12.29B	14.71B	16.16B	12.16B	12.6B
Comprehensive Income and Other	2.96B	2.69B	2.49B	1.22B	2.92B
Total Common Equity	23.58B	25.78B	27.05B	21.8B	23.81B
Minority Interest	25M	59M	90M	161M	76M
Total Equity	25.86B	28.07B	29.38B	24.2B	26.13B
Total Liabilities And Equity	323B	345B	331B	333B	371B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	585M	586M	586M	585M	573M
ECS Total Common Shares Outstanding	585M	586M	586M	585M	574M
Book Value / Share	40.3	43.98	46.13	37.29	41.5
Tangible Book Value	15.03B	15.89B	13.62B	7.66B	9.3B
Tangible Book Value Per Share	25.69	27.11	23.22	13.1	16.2
Total Debt	11.35B	14.96B	19.49B	18.99B	20.77B
Net Debt	696M	7.13B	10.11B	7.82B	10.64B
Debt Equivalent of Unfunded Proj. Benefit Obligation	151M	193M	-36M	90M	72M
Minority Interest, Total (Incl. Fin. Div)	25M	59M	90M	161M	76M
Equity Method Investments, Total	-	-	-	1.66B	1.83B
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	-	-	-	-	-
Buildings, Total	-	-	-	-	-
Full Time Employees	23.82K	-	29.17K	30.94K	31.77K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	2.5B	4.04B	3.13B	3.16B	3.13B
Depreciation, Depletion & Amortization	250M	245M	241M	249M	262M
Amortization of Goodwill and Intangible Assets - (CF)	78M	114M	174M	231M	259M
Total Depreciation, Depletion & Amortization	328M	359M	415M	480M	521M
Amortization of Deferred Charges, Total	78M	79M	113M	113M	218M
(Gain) Loss on Sale of Investments - (CF)	-7.31B	1.64B	17.74B	-4.66B	129M
Net (Increase) Decrease in Loans Originated / Sold - Operating	197M	95M	151M	-39M	-265M
Reinsurance Recoverable - (CF)	204M	86M	-951M	10M	-136M
Change in insurance Reserves / Liabilities	14.92B	2.42B	-11.21B	6.77B	2.13B
Change in Other Net Operating Assets (Collected)	-	-	-	331M	393M
Other Operating Activities	-3.66B	-10.56B	-5.07B	-560M	-3.59B
Cash from Operations	7.25B	-1.86B	4.31B	5.61B	2.53B
Capital Expenditure	-158M	-81M	-	-172M	-143M
Sale of Property, Plant, and Equipment	-	-	71M	-	-
Cash Acquisitions	-469M	-412M	-2.63B	-439M	-
Divestitures	-	-	-	297M	-
Investment in Marketable and Equity Securities, Total	-1M	-29M	-69M	-75M	-17M
Other Investing Activities, Total	-258M	-281M	-232M	-170M	-177M
Cash from Investing	-886M	-803M	-2.86B	-559M	-337M
Long-Term Debt Issued, Total	2.1B	2.13B	2.43B	638M	769M
Total Debt Issued	2.1B	2.13B	2.43B	638M	769M
Long-Term Debt Repaid, Total	-2.66B	-793M	-570M	-1.25B	-1.26B
Total Debt Repaid	-2.66B	-793M	-570M	-1.25B	-1.26B
Issuance of Common Stock	18M	36M	6M	49M	43M
Repurchase of Common Stock	-200M	-	-	-186M	-855M
Issuance of Preferred Stock	-	987M	-	-	-
Repurchase of Preferred Stock	-	-1.02B	-	-	-
Common & Preferred Stock Dividends Paid	-1.36B	-1.43B	-1.67B	-1.88B	-1.96B
Common & Preferred Stock Dividends Paid	-1.36B	-1.43B	-1.67B	-1.88B	-1.96B
Other Financing Activities, Total	-210M	-168M	-268M	-457M	-612M
Cash from Financing	-2.31B	-260M	-71M	-3.09B	-3.88B
Foreign Exchange Rate Adjustments	-92M	-35M	302M	-169M	471M
Net Change in Cash	3.96B	-2.96B	1.68B	1.8B	-1.22B
Supplemental Items
Cash Interest Paid	205M	187M	270M	405M	389M
Cash Income Tax Paid (Refund)	690M	1.03B	795M	1.24B	1.14B
Net Debt Issued / Repaid	-560M	1.34B	1.86B	-610M	-496M
Levered Free Cash Flow	-8.72B	2.81B	15.67B	2.32B	-7.55B
Unlevered Free Cash Flow	-8.49B	3.01B	15.95B	2.67B	-7.13B
Change In Net Working Capital	11.39B	1.82B	-12.25B	1.15B	11.82B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	0.68	0.95	0.82	0.79	0.88
Return on Total Capital	5.76	7.94	6.04	6.07	6.87
Return On Equity %	9.96	14.96	11.09	13.98	12.94
Return on Common Equity	10.5	15.94	11.59	14.57	13.37
Margin Analysis
Gross Profit Margin %	20.39	40.58	62.07	45.88	40.83
SG&A Margin	17.05	33.09	52.21	32.41	25.87
EBITDA Margin %	8.53	15.29	20.82	15.03	16.53
EBITA Margin %	7.96	14.6	19.78	14.23	15.74
EBIT Margin %	7.78	14.28	19.04	13.48	14.95
Income From Continuing Operations Margin %	5.79	11.31	13.66	10.67	9.84
Net Income Margin %	5.76	11.31	13.42	10.26	9.45
Net Avail. For Common Margin %	5.55	11.02	13.12	10	9.21
Normalized Net Income Margin	4.32	8.36	10.47	6.99	7.8
Levered Free Cash Flow Margin	-20.11	7.87	67.19	7.53	-22.8
Unlevered Free Cash Flow Margin	-19.6	8.44	68.38	8.65	-21.55
Asset Turnover
Asset Turnover	0.14	0.11	0.07	0.09	0.09
Fixed Assets Turnover	31.02	26.43	17.49	21.95	23.21
Receivables Turnover (Average Receivables)	45.43	46.62	44.65	180.3	92.45
Short Term Liquidity
Current Ratio	12.72	11.91	8.21	6.81	7.25
Quick Ratio	12.02	11.27	7.5	6.1	6.53
Operating Cash Flow to Current Liabilities	0.84	-0.2	0.36	0.41	0.17
Days Sales Outstanding (Average Receivables)	8.06	7.83	8.18	2.02	3.96
Average Days Payable Outstanding	22.64	37.04	92.94	88.25	79.41
Long Term Solvency
Total Debt/Equity	43.89	53.27	66.33	78.48	79.49
Total Debt / Total Capital	30.5	34.76	39.88	43.97	44.29
LT Debt/Equity	34.17	42.41	48.5	56.58	59.18
Long-Term Debt / Total Capital	23.74	27.67	29.16	31.7	32.97
Total Liabilities / Total Assets	91.99	91.87	91.12	92.74	92.95
EBIT / Interest Expense	9.49	15.59	9.98	7.53	7.45
EBITDA / Interest Expense	10.42	16.69	10.91	8.4	8.24
(EBITDA - Capex) / Interest Expense	9.97	16.44	10.91	8.09	8.02
Total Debt / EBITDA	3.07	2.74	4.01	4.09	3.8
Net Debt / EBITDA	0.19	1.31	2.08	1.69	1.94
Total Debt / (EBITDA - Capex)	3.21	2.78	4.01	4.25	3.9
Net Debt / (EBITDA - Capex)	0.2	1.33	2.08	1.75	2
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	9.22	-17.65	-34.65	11.1	7.3
Gross Profit, 1 Yr. Growth %	2.21	26.5	-0.03	9.61	11.21
EBITDA, 1 Yr. Growth %	1.15	47.57	-11.03	1.13	17.83
EBITA, 1 Yr. Growth %	0.97	51.16	-11.47	1.01	18.55
EBIT, 1 Yr. Growth %	0.57	51.28	-12.91	-0.31	18.9
Earnings From Cont. Operations, 1 Yr. Growth %	-7.66	60.82	-21.04	9.81	-1.03
Net Income, 1 Yr. Growth %	-7.92	61.53	-22.43	7.62	-1.14
Normalized Net Income, 1 Yr. Growth %	-0.47	59.17	-18.14	-5.3	19.6
Diluted EPS Before Extra, 1 Yr. Growth %	-6.9	63.1	-22.03	7.46	-0.01
Net Property, Plant and Equip., 1 Yr. Growth %	-0.43	-6.24	4.06	6.69	-3.45
Accounts Receivable, 1 Yr. Growth %	-6.19	2.58	32.18	145.33	92.93
Total Assets, 1 Yr. Growth %	8.68	6.92	-4.19	2.98	11.25
Common Equity, 1 Yr. Growth %	6.06	9.31	4.94	6.04	9.24
Tangible Book Value, 1 Yr. Growth %	4.99	5.7	-14.28	7.41	21.46
Cash From Operations, 1 Yr. Growth %	193.17	-125.6	-332.15	30.18	-54.88
Capital Expenditures, 1 Yr. Growth %	38.6	-48.73	-	-	-16.86
Levered Free Cash Flow, 1 Yr. Growth %	56.25	-133.72	457.87	-90.78	-424.39
Unlevered Free Cash Flow, 1 Yr. Growth %	58.17	-137.16	429.26	-89.53	-366.98
Dividend Per Share, 1 Yr. Growth %	4.76	5	19.48	8.7	8
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	26.7	-5.16	-26.64	-7.02	9.19
Gross Profit, 2 Yr. CAGR %	3.15	29.43	12.45	-1.13	2.3
EBITDA, 2 Yr. CAGR %	0.27	22.17	14.58	-7.81	9.22
EBITA, 2 Yr. CAGR %	-1.74	23.54	15.68	-8.23	9.49
EBIT, 2 Yr. CAGR %	-2.13	23.34	14.78	-9.69	8.94
Earnings From Cont. Operations, 2 Yr. CAGR %	-2.07	21.86	12.69	-9.69	4.25
Net Income, 2 Yr. CAGR %	-2.28	21.95	11.94	-11.43	3.15
Normalized Net Income, 2 Yr. CAGR %	-3.41	25.87	14.15	-14.98	6.5
Diluted EPS Before Extra, 2 Yr. CAGR %	-0.55	23.23	12.77	-11.33	3.66
Net Property, Plant and Equip., 2 Yr. CAGR %	49.83	-3.38	-1.23	5.36	1.5
Accounts Receivable, 2 Yr. CAGR %	4.65	-1.91	16.44	-46.25	117.56
Total Assets, 2 Yr. CAGR %	9.01	7.8	1.21	-1.77	7.03
Common Equity, 2 Yr. CAGR %	2.8	7.67	7.1	-8.03	7.63
Tangible Book Value, 2 Yr. CAGR %	-0.3	5.34	-4.81	-30.58	14.22
Cash From Operations, 2 Yr. CAGR %	37.54	-13.36	-22.9	73.84	-23.36
Capital Expenditures, 2 Yr. CAGR %	36.34	-15.71	-	45.72	-
Levered Free Cash Flow, 2 Yr. CAGR %	77.74	-29.04	37.16	-9.04	-45.27
Unlevered Free Cash Flow, 2 Yr. CAGR %	69.7	-25.1	40.25	-5.89	-47.09
Dividend Per Share, 2 Yr. CAGR %	7.46	4.88	12.01	13.96	8.35
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	13.89	9.75	-16.23	-10.71	-2.48
Gross Profit, 3 Yr. CAGR %	18.85	20.37	18.75	7.33	-2.28
EBITDA, 3 Yr. CAGR %	6.55	14.05	9.92	7.84	0.09
EBITA, 3 Yr. CAGR %	5.22	13.43	10.55	8.38	-0.02
EBIT, 3 Yr. CAGR %	5.05	13.16	9.83	7.26	-0.98
Earnings From Cont. Operations, 3 Yr. CAGR %	3.82	15.54	5.45	9.47	-6.89
Net Income, 3 Yr. CAGR %	3.67	15.54	4.88	8.21	-8.13
Normalized Net Income, 3 Yr. CAGR %	4.8	14.09	9.05	4.78	-4.69
Diluted EPS Before Extra, 3 Yr. CAGR %	5.47	17.28	5.79	8.65	-7.7
Net Property, Plant and Equip., 3 Yr. CAGR %	30.73	28.15	-0.96	1.34	2.34
Accounts Receivable, 3 Yr. CAGR %	5.96	3.96	8.35	-33.33	-17.71
Total Assets, 3 Yr. CAGR %	6.27	8.31	3.65	1.04	2.39
Common Equity, 3 Yr. CAGR %	4.41	4.93	6.75	-2.58	-2.6
Tangible Book Value, 3 Yr. CAGR %	2.73	1.66	-1.65	-20.14	-16.35
Cash From Operations, 3 Yr. CAGR %	54.05	-21.47	20.34	-8.2	10.89
Capital Expenditures, 3 Yr. CAGR %	-4.6	-1.59	-	2.87	20.86
Levered Free Cash Flow, 3 Yr. CAGR %	71.16	0.6	41.09	-34.66	39.03
Unlevered Free Cash Flow, 3 Yr. CAGR %	63.94	0.71	43.73	-30.95	33.28
Dividend Per Share, 3 Yr. CAGR %	8.03	6.64	9.54	10.89	11.94
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	17.59	4.55	-4.48	2.7	-3.56
Gross Profit, 5 Yr. CAGR %	29.9	21.18	22.43	11.26	9.35
EBITDA, 5 Yr. CAGR %	1.79	8.34	9.69	4.75	8.4
EBITA, 5 Yr. CAGR %	0.88	7.91	9.28	4.21	8.81
EBIT, 5 Yr. CAGR %	0.59	7.71	8.84	3.4	8.12
Earnings From Cont. Operations, 5 Yr. CAGR %	1.89	9.35	7.28	4.7	3.69
Net Income, 5 Yr. CAGR %	1.8	9.35	6.9	3.88	2.89
Normalized Net Income, 5 Yr. CAGR %	0.31	8.32	8.44	1.42	6.52
Diluted EPS Before Extra, 5 Yr. CAGR %	2.9	10.65	8.33	4.87	3.61
Net Property, Plant and Equip., 5 Yr. CAGR %	16.99	14.68	16.86	18.5	0.01
Accounts Receivable, 5 Yr. CAGR %	11.77	4.71	10.03	-20.16	-11.72
Total Assets, 5 Yr. CAGR %	5.53	5.99	4.22	4.16	4.52
Common Equity, 5 Yr. CAGR %	4.24	5.09	5.48	-0.46	1.38
Tangible Book Value, 5 Yr. CAGR %	2.89	3.95	-0.36	-12.72	-8.27
Cash From Operations, 5 Yr. CAGR %	10.21	-12.73	16.79	7.92	0.46
Capital Expenditures, 5 Yr. CAGR %	8.31	-9.17	-	15.14	4.64
Levered Free Cash Flow, 5 Yr. CAGR %	34.88	30.97	55.23	-3.38	6.23
Unlevered Free Cash Flow, 5 Yr. CAGR %	37.14	41.48	52.59	-1.98	5.84
Dividend Per Share, 5 Yr. CAGR %	7.82	7.35	9.6	9.51	9.06