WallStSmart

F&G Annuities & Life Inc. (FG)vsManulife Financial Corp (MFC)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Manulife Financial Corp generates 440% more annual revenue ($30.98B vs $5.73B). MFC leads profitability with a 18.7% profit margin vs 4.6%. FG trades at a lower P/E of 12.9x. MFC earns a higher WallStSmart Score of 66/100 (B-).

FG

Buy

53

out of 100

Grade: C-

Growth: 6.0Profit: 4.5Value: 5.7Quality: 4.0
Piotroski: 2/9Altman Z: 0.68

MFC

Strong Buy

66

out of 100

Grade: B-

Growth: 4.7Profit: 7.0Value: 7.3Quality: 6.5
Piotroski: 5/9
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

FGSignificantly Overvalued (-121.9%)

Margin of Safety

-121.9%

Fair Value

$12.78

Current Price

$24.64

$11.86 premium

UndervaluedFair: $12.78Overvalued
MFCSignificantly Overvalued (-149.9%)

Margin of Safety

-149.9%

Fair Value

$15.16

Current Price

$34.59

$19.43 premium

UndervaluedFair: $15.16Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

FG3 strengths · Avg: 8.7/10
Price/BookValuation
0.7x10/10

Reasonable price relative to book value

P/E RatioValuation
12.9x8/10

Attractively priced relative to earnings

Free Cash FlowQuality
$1.53B8/10

Generating 1.5B in free cash flow

MFC6 strengths · Avg: 8.7/10
Operating MarginProfitability
133.5%10/10

Strong operational efficiency at 133.5%

Market CapQuality
$56.67B9/10

Large-cap with strong market position

Debt/EquityHealth
0.299/10

Conservative balance sheet, low leverage

PEG RatioValuation
0.788/10

Growing faster than its price suggests

P/E RatioValuation
15.2x8/10

Attractively priced relative to earnings

Price/BookValuation
1.6x8/10

Reasonable price relative to book value

Areas to Watch

FG4 concerns · Avg: 2.8/10
Return on EquityProfitability
6.0%3/10

ROE of 6.0% — below average capital efficiency

Profit MarginProfitability
4.6%3/10

4.6% margin — thin

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

EPS GrowthGrowth
-64.2%2/10

Earnings declined 64.2%

MFC2 concerns · Avg: 2.0/10
Revenue GrowthGrowth
-34.9%2/10

Revenue declined 34.9%

EPS GrowthGrowth
-6.1%2/10

Earnings declined 6.1%

Comparative Analysis Report

WallStSmart Research

Bull Case : FG

The strongest argument for FG centers on Price/Book, P/E Ratio, Free Cash Flow. Revenue growth of 13.2% demonstrates continued momentum.

Bull Case : MFC

The strongest argument for MFC centers on Operating Margin, Market Cap, Debt/Equity. Profitability is solid with margins at 18.7% and operating margin at 133.5%. PEG of 0.78 suggests the stock is reasonably priced for its growth.

Bear Case : FG

The primary concerns for FG are Return on Equity, Profit Margin, Piotroski F-Score. Thin 4.6% margins leave little buffer for downturns.

Bear Case : MFC

The primary concerns for MFC are Revenue Growth, EPS Growth.

Key Dynamics to Monitor

FG profiles as a value stock while MFC is a declining play — different risk/reward profiles.

FG carries more volatility with a beta of 1.61 — expect wider price swings.

FG is growing revenue faster at 13.2% — sustainability is the question.

MFC generates stronger free cash flow (8.6B), providing more financial flexibility.

Bottom Line

MFC scores higher overall (66/100 vs 53/100), backed by strong 18.7% margins. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

F&G Annuities & Life Inc.

FINANCIAL SERVICES · INSURANCE - LIFE · USA

FGL Holdings sells individual life and annuity insurance products in the United States. The company is headquartered in Des Moines, Iowa.

Manulife Financial Corp

FINANCIAL SERVICES · INSURANCE - LIFE · USA

Manulife Financial Corporation, offers financial products and services in Asia, Canada, the United States and internationally. The company is headquartered in Toronto, Canada.

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