Sun Life Financial Inc. (SLF) Income Statement
SLF 2025 at a glance
Fiscal year ended December 31, 2025 · Canadian dollarsSLF revenue and net income
Where SLF's revenue goes
2025Each bar shows an amount and its share of revenue. SLF kept 8.9% of revenue as net income.
SLF profit margins
SLF growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +22.3% | +130.8% | −0.5% | +8.1% |
| Gross profit | +771.3% | +118.0% | +27.8% | +16.7% |
| Operating income | +10.5% | +9.8% | +7.8% | +5.2% |
| Net income | +18.0% | +7.4% | +6.1% | +5.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SLF income statement in Canadian dollars
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$42.17B | C$34.48B | C$32.66B | C$3.43B | C$35.69B | C$43.34B | C$39.68B | C$26.97B | C$29.33B | C$28.57B |
| Cost of revenue | C$0 | C$29.64B | −C$1.81B | −C$642.0M | C$20.98B | C$30.98B | C$28.50B | C$16.11B | C$19.05B | C$18.14B |
| Gross profit | C$42.17B | C$4.84B | C$32.66B | C$4.07B | C$14.71B | C$12.35B | C$11.17B | C$10.86B | C$10.28B | C$10.44B |
| Research & development | — | — | — | — | — | — | C$0 | C$0 | C$0 | C$0 |
| Sales, general & admin | C$6.93B | C$6.63B | C$6.14B | C$5.11B | C$5.10B | C$4.45B | C$4.09B | C$3.71B | C$3.67B | C$3.39B |
| Total operating expenses | C$37.38B | C$501.0M | C$28.73B | C$445.0M | C$9.61B | C$9.07B | C$7.94B | C$7.35B | C$7.49B | C$6.99B |
| Operating income | C$4.79B | C$4.34B | C$3.80B | C$3.63B | C$5.10B | C$3.29B | C$3.23B | C$3.51B | C$2.79B | C$3.44B |
| Interest income | C$3.34B | C$4.28B | C$4.33B | C$18.20B | C$5.31B | C$5.41B | C$6.79B | C$305.0M | C$303.0M | C$316.0M |
| Interest expense | C$525.6M | C$664.0M | C$552.0M | C$328.3M | C$327.0M | C$355.0M | C$333.0M | C$305.0M | C$303.0M | C$316.0M |
| Income before taxes | C$4.79B | C$4.34B | C$3.93B | C$3.63B | C$5.10B | C$3.29B | C$3.23B | C$3.51B | C$2.79B | C$3.44B |
| Income taxes | C$1.02B | C$1.04B | C$461.0M | C$546.0M | C$727.0M | C$495.0M | C$286.0M | C$597.0M | C$302.0M | C$619.0M |
| Net income | C$3.74B | C$3.17B | C$3.34B | C$3.02B | C$4.37B | C$2.78B | C$2.94B | C$2.91B | C$2.49B | C$2.83B |
| EBITDA | C$5.32B | C$5.00B | C$3.80B | C$4.60B | C$5.86B | C$4.05B | C$3.94B | C$4.04B | C$3.30B | C$3.96B |
| Gross margin | 100.0% | 14.0% | 100.0% | 118.7% | 41.2% | 28.5% | 28.2% | 40.3% | 35.1% | 36.5% |
| Operating margin | 11.4% | 12.6% | 11.6% | 105.7% | 14.3% | 7.6% | 8.1% | 13.0% | 9.5% | 12.1% |
| Net margin | 8.9% | 9.2% | 10.2% | 88.2% | 12.2% | 6.4% | 7.4% | 10.8% | 8.5% | 9.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$13.93B | C$8.80B | C$8.92B | C$12.40B | C$9.20B | C$11.34B | C$3.27B | C$15.38B | C$8.89B | C$6.94B | C$17.59B | C$2.37B |
| Cost of revenue | C$12.44B | C$5.26B | C$0 | C$10.82B | C$8.09B | C$9.88B | C$2.46B | C$13.44B | C$7.75B | C$5.65B | C$16.69B | C$982.0M |
| Gross profit | C$1.49B | C$3.54B | C$8.92B | C$1.58B | C$1.10B | C$1.46B | C$812.0M | C$1.94B | C$1.15B | C$1.28B | C$902.0M | C$1.39B |
| Sales, general & admin | — | C$2.67B | — | — | — | — | — | — | — | — | — | — |
| Total operating expenses | C$131.0M | C$2.70B | C$7.80B | C$131.0M | C$129.0M | C$208.0M | C$223.0M | C$298.0M | C$236.0M | C$85.0M | C$115.0M | C$210.0M |
| Operating income | C$1.36B | C$837.0M | C$1.13B | C$1.45B | C$976.0M | C$1.25B | C$589.0M | C$1.64B | C$910.0M | C$1.20B | C$787.0M | C$1.18B |
| Interest income | — | C$1.92B | — | — | — | C$1.81B | C$9.62B | C$1.88B | C$1.74B | C$1.72B | C$1.10B | C$1.13B |
| Interest expense | C$131.0M | C$163.4M | C$132.9M | C$131.0M | C$129.0M | C$133.0M | C$182.0M | C$185.0M | C$138.0M | C$159.0M | C$115.0M | C$160.0M |
| Income before taxes | C$1.36B | C$632.0M | C$1.13B | C$1.45B | C$976.0M | C$1.25B | C$589.0M | C$1.64B | C$910.0M | C$1.20B | C$787.0M | C$1.18B |
| Income taxes | C$284.0M | C$103.0M | C$315.7M | C$260.0M | C$198.0M | C$242.0M | C$372.0M | C$215.0M | C$192.0M | C$261.0M | −C$87.0M | C$244.0M |
| Net income | C$1.08B | C$537.4M | C$792.4M | C$1.17B | C$778.0M | C$1.00B | C$142.0M | C$1.42B | C$714.0M | C$893.0M | C$826.0M | C$927.0M |
| EBITDA | C$1.49B | C$837.0M | C$1.26B | C$1.62B | C$1.10B | C$1.38B | C$771.0M | C$1.83B | C$1.05B | C$1.36B | C$902.0M | C$1.34B |
| Gross margin | 10.7% | 40.2% | 100.0% | 12.7% | 12.0% | 12.9% | 24.8% | 12.6% | 12.9% | 18.5% | 5.1% | 58.6% |
| Operating margin | 9.8% | 9.5% | 12.6% | 11.7% | 10.6% | 11.0% | 18.0% | 10.7% | 10.2% | 17.3% | 4.5% | 49.8% |
| Net margin | 7.8% | 6.1% | 8.9% | 9.5% | 8.5% | 8.8% | 4.3% | 9.2% | 8.0% | 12.9% | 4.7% | 39.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported in SLF's financial statements (latest annual report filed February 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SLF financial results
In fiscal year 2025 (ended December 31, 2025), Sun Life Financial reported revenue of C$42.2 billion, up 22.3% from the year before. It had net income of C$3.7 billion (up 18.0%), a net profit margin of 8.9%. Over five years revenue grew at an average rate of −0.5% a year. Figures are in Canadian dollars, the currency of its financial statements.
See the SLF stock overview for the latest quote and news, or the SLF chart for price history and technical indicators.
SLF income statement FAQ
What is Sun Life Financial's annual revenue?
Sun Life Financial reported total revenue of C$42.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 22.3% from C$34.5 billion the previous year.
Is Sun Life Financial profitable?
Yes. Sun Life Financial reported net income of C$3.7 billion in fiscal 2025, a net profit margin of 8.9%; its operating margin was 11.4%.
What is Sun Life Financial's gross margin?
Sun Life Financial's gross margin was 100.0% in fiscal 2025: for every $100 of revenue, Sun Life Financial kept $100 after the direct cost of its products and services.
How fast is Sun Life Financial growing?
Revenue grew −0.5% a year on average over the last five fiscal years, from C$43.3 billion to C$42.2 billion.
When will Sun Life Financial report its next earnings?
Sun Life Financial is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does Sun Life Financial's fiscal year end?
Sun Life Financial's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 12, 2026.