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AFLAflac Incorporated
$121.49$61.8B
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AFL logoAflac Incorporated(AFL)Earnings, Financials & Key Ratios

AFL•NYSE•Insurance & Managed Care
$121.49
17.8× P/E·Price updated Jul 7, 2026
SectorFinancial ServicesIndustryLife InsuranceSub-IndustryGroup and voluntary benefits insurers
AboutAflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers cancer, medical, nursing care income support, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan. The Aflac U.S. segment provides cancer, accident, short-term disability, critical illness, hospital indemnity, dental, vision, long-term care and disability, and term and whole life insurance products in the United States. It sells its products through sales associates, brokers, independent corporate agencies, individual agencies, and affiliated corporate agencies. The company was founded in 1955 and is based in Columbus, Georgia.Show more
  • Revenue$17.44B-8.8%
  • Combined Ratio73.39%+10.4%
  • Net Income$3.65B-33.0%
  • Return on Equity13.12%-42.1%
  • Medical Cost Ratio61.07%-5.1%
  • Operating Margin26.61%-20.7%
  • Net Margin20.91%-26.5%
  • ROA3.12%-30.1%
  • Equity / Assets25.32%+14.1%

AFL Price & Volume

Aflac Incorporated (AFL) stock price & volume — 10-year historical chart

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Currency Volatility Masks Underlying Underwriting Margin Instability

Investment Thesis • Updated 2026Q1

VerdictNeutral
Growth:Mixed
Profitability:Moderate
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Yen volatility and claims

Key Thesis Takeaways

  • Aflac's fundamental outlook remains clouded by significant revenue volatility, driven by its heavy reliance on the Japanese market and sensitivity to foreign exchange fluctuations.
  • While the company maintains a resilient equity base of $30.0 billion as of 2026Q1, the persistent divergence between net income and operating cash flow suggests that core profitability may be more fragile than headline EPS growth of 36.4% implies.
  • Investors should monitor the sustainability of aggressive capital returns, such as the $1 billion in quarterly buybacks, against the backdrop of fluctuating combined ratios that reached as high as 97.0% in 2024Q3.

Verdict Logic

while the company maintains a healthy equity base of $30.0 billion, the extreme volatility in underwriting margins and the divergence between statutory earnings and cash flow warrant a cautious approach until operational stability is proven.

AFL Growth Metrics

Aflac Incorporated (AFL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-1.75%
5 Years-4.77%
3 Years-3.08%
TTM6.29%

Profit CAGR

10 Years3.71%
5 Years-5.26%
3 Years-6.2%
TTM29.03%

EPS CAGR

10 Years8.83%
5 Years0.48%
3 Years-0.48%
TTM36.81%

Return on Capital

10 Years3.49%
5 Years4.02%
3 Years4.5%
Last Year4.17%

AFL Recent Earnings

Aflac Incorporated (AFL) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
Apr 29, 2026
Metric
Actual
Est
EPS
$1.75-2.2%
$1.79
Rev
$4.3B+3.4%
$4.2B
Q1 2026
Feb 4, 2026
Metric
Actual
Est
EPS
$1.57-7.1%
$1.69
Rev
$4.9B+14.5%
$4.3B
Q4 2025
Nov 4, 2025
Metric
Actual
Est
EPS
$2.49+40.7%
$1.77
Rev
$4.8B+9.8%
$4.4B
Q3 2025
Aug 5, 2025
Metric
Actual
Est
EPS
$1.78+4.7%
$1.70
Rev
$4.2B-2.6%
$4.3B
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 29, 2026
$1.75vs $1.79-2.2%
$4.3Bvs $4.2B+3.4%
Q1 2026Feb 4, 2026
$1.57vs $1.69-7.1%
$4.9Bvs $4.3B+14.5%
Q4 2025Nov 4, 2025
$2.49vs $1.77+40.7%
$4.8Bvs $4.4B+9.8%
Q3 2025Aug 5, 2025
$1.78vs $1.70+4.7%
$4.2Bvs $4.3B-2.6%
Based on last 12 quarters of dataView full earnings history →

Latest AFL News

Recent stock market news and headlines for Aflac Incorporated (AFL)

Business Wire·Jun 25, 2026
AFL Associates Donate $2.2 Million to Communities Worldwide

SPARTANBURG, S.C.--(BUSINESS WIRE)-- #WeAreAFL--AFL held its tenth annual Imagine That! fundraising campaign, supporting communities around the world where AFL operates. This year's campaign, themed "Impact the Pack: Refuel the Future," concluded with a $2,224,061 donation to organizations around the world including the United States, Canada, Mexico, Europe, Australia and New Zealand. All AFL locations participated in the campaign by encouraging associates to consider contributing financially to their comm.

Business Wire·Jun 18, 2026
AFL Introduces the FOCIS Flex3 and FlowScout® Quad OLTS to Improve Fiber Inspection and Certification Workflows

SPARTANBURG, S.C.--(BUSINESS WIRE)-- #WeAreAFL--AFL, an industry-leading manufacturer of fiber optic cables, connectivity, equipment and related services, announces the launch of the FOCIS Flex3 Connector Inspection System and FlowScout® Quad OLTS Certification Test Set. Together, these solutions enable technicians to quickly confirm optical fiber network readiness for service, certify network performance, and accelerate job completion. The FOCIS Flex3 Connector Inspection System is a compact, self-contain.

Peers Comparison

Key metrics vs top competitors for Aflac Incorporated (AFL)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
AFL logoAFLAflac IncorporatedCurrent
$121.49$61.84B17.79-8.84%20.91%13.12%1.85%
MET logoMETMetLife, Inc.
$91.67$59.77B19.1010.22%4.7%12.72%—
PRU logoPRUPrudential Financial, Inc.
$115.47$40.16B11.30-14.01%5.62%10.26%—
UNM logoUNMUnum Group
$89.20$14.41B20.842.07%5.87%7.07%—
GNW logoGNWGenworth Financial, Inc.
$9.54$3.67B17.67-10.86%3.62%2.54%—
CNO logoCNOCNO Financial Group, Inc.
$52.89$4.94B22.510.94%5.44%9.56%—

Compare AFL vs Peers

Aflac Incorporated (AFL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MET

Most directly comparable listed peer for AFL.

Scale Benchmark

vs UNH

Larger-name benchmark to compare AFL against a more recognizable public peer.

Peer Set

Compare Top 5

vs MET, PRU, UNM, GNW

AFL SEC Filings & Documents

Aflac Incorporated (AFL) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 28, 2026·SEC

Material company update

May 14, 2026·SEC

Material company update

May 7, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 26, 2025·SEC

FY 2024

Feb 22, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 6, 2026·SEC

FY 2025

Nov 5, 2025·SEC

FY 2025

Aug 5, 2025·SEC

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AFL Frequently Asked Questions

Aflac Incorporated (AFL) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is Aflac Incorporated growing?

Aflac Incorporated (AFL) saw revenue decline by 8.8% over the past year.

Is AFL profitable?

Yes, Aflac Incorporated (AFL) is profitable, generating $4.64B in net income for fiscal year 2025 (20.9% net margin).

Dividend & Returns
Does AFL pay dividends?

Yes, Aflac Incorporated (AFL) pays a dividend with a yield of 1.85%. This makes it attractive for income-focused investors.

What is AFL's return on equity?

Aflac Incorporated (AFL) has a return on equity (ROE) of 13.1%. This is reasonable for most industries.

Industry Metrics
What is Aflac Incorporated's combined ratio?

Aflac Incorporated (AFL) has a combined ratio of 73.4%. A ratio below 100% indicates underwriting profitability.

What if you invested $1,000 in AFL back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

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