Sun Life Financial Inc. (SLF) Key Metrics
SLF key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Canadian dollarsSLF returns How much profit the business earns on the capital it uses.
SLF financial health Debt, liquidity and how easily interest is covered.
SLF efficiency & capital use Working capital cycle and where the cash goes.
SLF returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
SLF debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
SLF cash returned to shareholders
SLF key metrics in Canadian dollars
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 14.6% | 12.7% | 12.5% | 10.5% | 16.2% | 11.0% | 12.0% | 12.3% | 11.0% | 12.9% |
| Return on invested capital (ROIC) | 25.5% | 24.4% | 14.8% | 10.1% | 17.8% | 12.3% | 12.5% | 12.8% | 11.1% | 14.2% |
| Return on assets (ROA) | 1.0% | 0.9% | 1.0% | 0.9% | 1.3% | 0.9% | 1.0% | 1.1% | 0.9% | 1.1% |
| Return on tangible assets | 1.0% | 0.9% | 1.0% | 1.0% | 1.3% | 0.9% | 1.0% | 1.1% | 0.9% | 1.1% |
| Free cash flow margin | 32.3% | 6.9% | 23.5% | 125.7% | −5.4% | 16.4% | 6.1% | 13.9% | 6.1% | 12.4% |
| Income quality (OCF / net income) | 3.67 | 0.80 | 2.34 | 1.43 | −0.42 | 2.61 | 0.87 | 1.32 | 0.80 | 1.30 |
| Financial health | ||||||||||
| Total debt | C$18.79B | C$16.87B | C$15.40B | C$15.22B | C$11.89B | C$9.03B | C$8.97B | C$8.15B | C$8.36B | C$8.77B |
| Cash & short-term investments | C$29.46B | C$27.80B | C$27.55B | C$11.22B | C$12.28B | C$13.53B | C$9.57B | C$9.51B | C$8.89B | C$8.64B |
| Net debt | −C$10.67B | −C$10.93B | −C$12.16B | C$4.00B | −C$387.0M | −C$4.50B | −C$603.0M | −C$1.36B | −C$527.0M | C$131.0M |
| Debt / equity | 0.74 | 0.65 | 0.64 | 0.52 | 0.42 | 0.35 | 0.37 | 0.33 | 0.36 | 0.39 |
| Debt / assets | 0.05 | 0.05 | 0.05 | 0.05 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| Net debt / EBITDA | −2.01 | −2.18 | −3.20 | 0.87 | −0.07 | −1.11 | −0.15 | −0.34 | −0.16 | 0.03 |
| Current ratio | 2.78 | — | 3.23 | 2.99 | 5.96 | 5.51 | 5.97 | 85.03 | 85.32 | 58.39 |
| Quick ratio | 2.78 | — | 5.36 | 6.39 | 14.00 | 12.86 | 14.74 | 91.00 | 91.08 | 62.69 |
| Interest coverage | 9.1 | 6.5 | 6.9 | 11.0 | 15.6 | 9.3 | 9.7 | 11.5 | 9.2 | 10.9 |
| Working capital | C$26.62B | — | C$20.64B | C$9.91B | C$12.11B | C$12.56B | C$9.60B | C$180.58B | C$178.09B | C$168.03B |
| Invested capital | C$14.55B | C$15.13B | C$11.88B | C$33.38B | C$27.69B | C$21.37B | C$23.91B | C$23.21B | C$22.44B | C$22.50B |
| Tangible asset value | C$10.66B | C$11.62B | C$10.06B | C$15.95B | C$18.19B | C$17.31B | C$16.59B | C$17.38B | C$16.12B | C$15.35B |
| Net current asset value | −C$331.39B | — | −C$279.14B | −C$286.63B | −C$302.75B | −C$281.81B | −C$261.16B | −C$64.53B | −C$65.94B | −C$64.92B |
| Capital allocation | ||||||||||
| Dividends paid | C$2.06B | C$1.96B | C$1.42B | C$1.67B | C$1.43B | C$1.36B | C$1.32B | C$1.23B | C$1.16B | C$1.07B |
| Share buybacks (net) | C$1.71B | C$855.0M | C$140.3M | C$0 | C$1.02B | C$200.0M | C$592.0M | C$641.0M | C$175.0M | C$950.0M |
| Dividend payout ratio | 55.1% | 61.9% | 42.5% | 55.3% | 32.7% | 48.9% | 44.8% | 42.1% | 46.4% | 38.0% |
| Dividends + buybacks / free cash flow | 27.7% | 117.9% | 20.3% | 38.8% | — | 22.0% | 78.5% | 49.8% | 73.8% | 57.2% |
| Capex / revenue | 0.3% | 0.4% | 0.4% | 107.5% | 0.2% | 0.4% | 0.3% | 0.3% | 0.6% | 0.5% |
| Capex / operating cash flow | 1.1% | 5.6% | 1.7% | 85.5% | — | 2.2% | 4.5% | 2.2% | 9.2% | 3.6% |
| Capex / depreciation | — | — | 0.22 | 6.98 | 0.18 | 0.39 | 0.30 | 0.38 | 0.87 | 0.65 |
| Stock-based compensation / revenue | — | — | 2.4% | 11.5% | 3.6% | 2.1% | 1.4% | 1.3% | 1.6% | 1.3% |
| SG&A / revenue | 16.4% | 19.2% | 18.8% | 148.9% | 14.3% | 10.3% | 10.3% | 13.7% | 12.5% | 11.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 60.3 | 27.3 | 34.0 | 316.4 | 20.9 | 15.9 | 18.3 | 27.9 | 30.5 | 30.1 |
| Days of inventory on hand | — | — | 3,704.2 | 10,390.0 | -348.3 | -220.2 | -190.8 | -283.1 | -237.0 | -128.7 |
| Days payables outstanding | — | 31.1 | -518.6 | -1,280.6 | 37.4 | 25.6 | 25.3 | 45.5 | 45.1 | 52.4 |
| Cash conversion cycle (days) | — | -3.8 | 4,256.8 | 11,987.0 | -364.9 | -229.9 | -197.8 | -300.7 | -251.6 | -151.1 |
| Receivables turnover | 6.06 | 13.36 | 10.73 | 1.15 | 17.49 | 23.00 | 19.97 | 13.09 | 11.97 | 12.14 |
| Payables turnover | 0.00 | 11.74 | −0.70 | −0.29 | 9.75 | 14.28 | 14.44 | 8.02 | 8.09 | 6.96 |
| Asset turnover | 0.11 | 0.10 | 0.10 | 0.01 | 0.11 | 0.14 | 0.14 | 0.10 | 0.11 | 0.11 |
| Average receivables | C$6.96B | C$2.58B | C$3.04B | C$2.97B | C$2.04B | C$1.88B | C$1.99B | C$2.06B | C$2.45B | C$2.35B |
| Average payables | C$2.35B | C$2.53B | C$2.57B | C$2.25B | C$2.15B | C$2.17B | C$1.97B | C$2.01B | C$2.36B | C$2.60B |
| Average inventory | — | — | −C$18.33B | −C$18.27B | −C$20.02B | −C$18.70B | −C$14.90B | −C$12.49B | −C$12.37B | −C$6.40B |
| Intangibles / total assets | 3.7% | 3.9% | 4.2% | 4.1% | 2.9% | 2.6% | 2.7% | 2.6% | 2.5% | 2.7% |
Computed from SLF's annual financial statements (latest annual report filed February 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Canadian dollars; data from EODHD. Averages use the opening and closing balance of each year.
SLF valuation and financial ratios
Sun Life Financial earned a return on equity of 14.6% and a return on invested capital of 25.5% in fiscal 2025. It ended the year with C$18.8 billion of debt and C$29.5 billion in cash and short-term investments, a net cash position of C$10.7 billion. It returned C$3.8 billion to shareholders: C$2.1 billion in dividends and C$1.7 billion in share buybacks, 28% of free cash flow.
See the SLF income statement, the SLF chart for price history, or the SLF stock overview for the latest quote and news.
SLF key metrics FAQ
What is Sun Life Financial's return on equity?
Sun Life Financial's return on equity (ROE) was 14.6% in fiscal 2025: net income of C$3.7 billion on average shareholders' equity of C$25.6 billion.
What is Sun Life Financial's ROIC?
Sun Life Financial's return on invested capital was 25.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Sun Life Financial have?
Sun Life Financial had total debt of C$18.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.74 and more cash than debt.
Does Sun Life Financial buy back its shares?
Yes. Sun Life Financial spent C$1.7 billion on net share repurchases in fiscal 2025.
What is Sun Life Financial's current ratio?
Sun Life Financial's current ratio was 2.78 at the end of fiscal 2025: current assets were 2.78 times current liabilities.