WallStSmart

Lincoln National Corporation (LNC)vsManulife Financial Corp (MFC)

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Smart Verdict

WallStSmart Research — data-driven comparison

Manulife Financial Corp generates 70% more annual revenue ($30.98B vs $18.27B). MFC leads profitability with a 18.7% profit margin vs 6.4%. MFC appears more attractively valued with a PEG of 0.78. MFC earns a higher WallStSmart Score of 66/100 (B-).

LNC

Buy

59

out of 100

Grade: C

Growth: 2.0Profit: 5.0Value: 8.7Quality: 4.8
Piotroski: 3/9

MFC

Strong Buy

66

out of 100

Grade: B-

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

Multi-model valuation · Graham Formula

LNCUndervalued (+2.9%)

Margin of Safety

+2.9%

Fair Value

$39.64

Current Price

$35.93

$3.71 discount

UndervaluedFair: $39.64Overvalued
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

LNC2 strengths · Avg: 10.0/10
P/E RatioValuation
6.2x10/10

Attractively priced relative to earnings

Price/BookValuation
0.7x10/10

Reasonable price relative to book value

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

LNC4 concerns · Avg: 2.5/10
Profit MarginProfitability
6.4%3/10

6.4% margin — thin

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Revenue GrowthGrowth
-3.1%2/10

Revenue declined 3.1%

EPS GrowthGrowth
-60.7%2/10

Earnings declined 60.7%

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 : LNC

The strongest argument for LNC centers on P/E Ratio, Price/Book. PEG of 1.01 suggests the stock is reasonably priced for its growth.

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 : LNC

The primary concerns for LNC are Profit Margin, Piotroski F-Score, Revenue Growth.

Bear Case : MFC

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

Key Dynamics to Monitor

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

LNC carries more volatility with a beta of 1.28 — expect wider price swings.

LNC is growing revenue faster at -3.1% — 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 59/100), 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.

Lincoln National Corporation

FINANCIAL SERVICES · INSURANCE - LIFE · USA

Lincoln National Corporation is an American holding company, which operates multiple insurance and investment management businesses through subsidiary companies. Lincoln Financial Group is the marketing name for LNC and its subsidiary companies.

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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