Sun Life Financial Inc

SLF: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 57.00	Rtsv	Pldfgsln

Sun Life Ends the Year With a Decent Set of Numbers; Maintaining Our CAD 59 Fair Value Estimate

Suryansh Sharma

Feb 9, 2023

No-moat-rated Sun Life Financial ended the year with a decent set of numbers as the company reported underlying net income of CAD 990 million or CAD 1.69 per share in the fourth quarter, up 10% compared with CAD 898 million or CAD 1.53 per share in the fourth quarter of the previous year. The fourth-quarter results equated to an underlying return on equity of 15.7%. We are maintaining our CAD 59 fair value estimate for Sun Life after incorporating the latest results.

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