Analyst Consensus ?
ConsensusHold15 ratings
Bullish426.7%
Neutral960.0%
Bearish213.3%
Sun Life Financial Inc. · SLF · FY2025 Q4 · Calendar Q1 2026
Sun Life Q4: Asia and stop-loss growth offset U.S. dental risks
The supplied analysis supports a constructive but qualified view: strong Asia protection demand, U.S. stop-loss growth and capital capacity reinforce Sun Life’s growth trajectory, while dental profitability, MFS outflows and SLC execution could limit consistency.
Reported After market closeNYSEFinancial Services
$43.04B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.41
Consensus $1.35
EPS surprise
+4.4%
Reported versus consensus
Reported revenue
$820.0M
Consensus $973.5M
Revenue surprise
-15.8%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+5.9%
Event window
SPY move
-1.5%
Same window
Abnormal move
+7.5%
Stock minus SPY
Volume
2.8×
Versus trailing sessions
Subsequent drift
-8.8%
Up to 20 sessions
SLFSPY benchmark
Ask FN2 about SLF FY2025 Q4
Transcript, numbers and history already loaded
Why did SLF rise 5.9% after beating EPS estimates in FY2025 Q4?What changed in SLF's guidance and outlook in FY2025 Q4?Give me the bull and bear case for SLF after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the focus shifted toward stronger reported Q4 momentum: Asia protection sales accelerated, U.S. stop-loss growth became a more prominent driver, and the LICAT ratio rose from 154% to 157%. The analysis also adds the SLC employee ownership plan and a virtual-health launch, while MFS outflows remain a concern.
Guidance delta
Guidance sentiment was maintained; the supplied analysis does not identify a quantified guidance change.
Key takeaways
- Underlying net income was reported at $1.1 billion, with EPS growth of 17% year over year.
- Asia protection sales grew 50% year over year, while Hong Kong sales more than doubled.
- U.S. medical stop-loss sales grew 58%, alongside a 17% price increase.
- The LICAT ratio was reported at 157%, supporting planned BGO and Crescent buy-ups.
- MFS outflows and U.S. dental profitability remain important areas to monitor.
Management priorities
- Complete the BGO and Crescent Capital buy-ups in the first half of 2026
- Expand Asian protection and wealth businesses, especially in Hong Kong and Indonesia
- Continue digital initiatives including virtual health, mobile engagement and straight-through processing
- Resume share buybacks later in 2026 while maintaining disciplined capital deployment
- Use employee ownership in SLC to support culture and growth
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Beat
Miss
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Analyst 52W Price Targets
$78.57Current
$50.93Low
$76.64Average
$92High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 3, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Argus Research | Buy | Buy | Maintain | Sep 3, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Aug 10, 2026 |
| Credit Suisse | Outperform | Outperform | Maintain | Aug 10, 2023 |
| CFRA | Hold | Hold | Maintain | May 12, 2020 |
| CIBC | Underperform | Neutral | Downgrade | Mar 14, 2019 |
| Scotiabank | Sector Perform | Sector Outperform | Downgrade | Feb 6, 2019 |
| Argus | Buy | Hold | Upgrade | May 5, 2018 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Apr 5, 2018 |
| BMO Capital | Outperform | Market Perform | Upgrade | Feb 16, 2018 |
| Canaccord Genuity | Hold | Buy | Downgrade | Nov 17, 2016 |
| Jefferies | Hold | Hold | Maintain | Jul 27, 2016 |
| Macquarie | Neutral | Outperform | Downgrade | Nov 5, 2015 |
| Cormark Securities | Market Perform | Buy | Downgrade | Dec 19, 2012 |
| Barclays | Underweight | Underweight | Maintain | Nov 9, 2012 |
| Desjardins | Hold | Buy | Downgrade | Oct 11, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $78.57. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Argus Research | Analyst unavailable | $88 | $79.46 | +12.0% | Sep 3, 2026 |
| Argus Research | Kevin Heal | $81 | $74.52 | +3.1% | Jun 10, 2026 |
| Morgan Stanley | Analyst unavailable | $89 | $60.41 | +13.3% | Oct 7, 2025 |
| Capital One Financial | Tom MacKinnon | $92 | $60.9 | +17.1% | Nov 14, 2024 |
| Stifel Nicolaus | Mike Rizvanovic | $58.89 | $51.95 | -25.1% | Oct 4, 2021 |
| Barclays | John Aiken | $50.93 | $50.38 | -35.2% | Aug 5, 2021 |
Track every rating change on SLF the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationSun Life Financial Inc. operates as a global financial institution, delivering a wide range of insurance, wealth management, and asset accumulation services to both individual and corporate clients worldwide. Its offerings encompass diverse life insurance products, including term and whole life policies, in addition to personal health, dental, critical illness, long-term care, and disability coverage. The company also engages in reinsurance activities, provides investment advisory and portfolio management services, and administers mutual and segregated funds. Furthermore, it offers trust and banking solutions, along with real estate brokerage, appraisal, and merchant banking services. Its distribution network is extensive, utilizing direct sales representatives, various general agents (both managing and independent), financial intermediaries, broker-dealers, banking institutions, pension and benefits consultants, and other external marketing organizations. Founded in 1871, the firm's headquarters are located in Toronto, Canada.
Historical context
All SLF earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| FDS FactSet Research Systems Inc. | FY2026 Q4 · Calendar Q3 2026 | +3.9% | +3.8% | FactSet reports record FY26 results as AI and MCP adoption accelerate |
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the SLF recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-10-03T00:36:05.804668+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-03T00:36:05.801971+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-03. For educational purposes only; not investment advice.