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Aflac Inc AFL

US equityMarket cap rank #284Insurance - Life
$115.03
−$0.20 (-0.17%)
Market open · Sep 24, 2:00 pm ET
After hours $115.23 0.00%
Open$115.76
Prev close$115.23
Day range$114.92 – $116.10
Volume582.2K
Market cap$57.67B
P/E (TTM)12.4
Dividend yield2.07%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026

Revenue$4.19B-0.6% YoY
Net profit$825.00M+37.7% YoY
Diluted EPS$1.63+46.8% YoY
Free cash flow$112.00M-71.9% YoY
Operating cash flow$112.00M

Revenue, last 8 quarters

$3.0BSep '24$5.5BDec '24$3.5BMar '25$4.2BJun '25$4.8BSep '25$4.9BDec '25$4.4BMar '26$4.2BJun '26

Net profit, last 8 quarters

$-93.0MSep '24$1.9BDec '24$29.0MMar '25$599.0MJun '25$1.6BSep '25$1.4BDec '25$1.0BMar '26$825.0MJun '26

Diluted EPS by quarter

-0.17Sep '243.42Dec '240.05Mar '251.11Jun '253.08Sep '252.64Dec '251.98Mar '261.63Jun '26

Free cash flow by quarter

$1.3BSep '24$333.0MDec '24$589.0MMar '25$399.0MJun '25$1.3BSep '25$315.0MDec '25$968.0MMar '26$112.0MJun '26

Annual revenue

$22.3BFY20$21.5BFY21$19.2BFY22$18.8BFY23$19.1BFY24$17.4BFY25

Profitability & balance sheet

Net margin26.6%
Return on equity16.9%
Return on assets4.0%
Liabilities / assets73.9%
Total debt$8.73B
Free cash flow / sales14.5%

Income statement

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Revenue as Reported $4.12B $4.35B $17.16B $4.87B $4.74B
Total Operating Revenue $4.19B $4.41B $17.36B $4.89B $4.79B
Total Premiums Earned $3.25B $3.31B $13.55B $3.33B $3.37B
-Net Premiums Written $3.25B $3.31B $13.55B $3.33B $3.37B
Fee Revenue and Other Income $34.00M $31.00M $112.00M $31.00M $26.00M
-Other Income Expense $34.00M $31.00M $112.00M $31.00M $26.00M
Net Investment Income $839.00M $838.00M $3.78B $823.00M $944.00M
Net Realized Gain/Loss on Investments -$750.00M -$156.00M -$344.00M -$123.00M -$56.00M
Net Foreign Exchange Gain/Loss $819.00M $385.00M $264.00M $835.00M $507.00M
Total Expenses $3.20B $3.18B $12.82B $3.32B $2.80B
Loss Adjustment Expense $2.60B $2.60B $10.55B $2.77B $2.22B
Policy Acquisition Expense $218.00M $221.00M $874.00M $219.00M $218.00M
Fees & Commission Expense $239.00M $237.00M $991.00M $246.00M $254.00M
Net Non-Operating Interest Income (Expense) -$64.00M -$60.00M -$220.00M -$61.00M -$57.00M
-Interest Expense Non-Operating $64.00M $60.00M $220.00M $61.00M $57.00M
Other Operating Expenses $77.00M $62.00M $191.00M $25.00M $53.00M
Pretax Profit $995.00M $1.23B $4.53B $1.57B $1.99B
Tax $170.00M $206.00M $887.00M $193.00M $355.00M
Net Profit $825.00M $1.02B $3.65B $1.38B $1.64B
Profit from Continuing Operations $825.00M $1.02B $3.65B $1.38B $1.64B
Net Income to Parent Company $825.00M $1.02B $3.65B $1.38B $1.64B
Net Income to Common Stockholders $825.00M $1.02B $3.65B $1.38B $1.64B
Basic EPS $1.64 $1.99 $6.84 $2.65 $3.09
Diluted EPS $1.63 $1.98 $6.82 $2.64 $3.08
Dividend Per Share $0.61 $0.61 $2.32 $0.58 $0.58

Balance sheet

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Assets $115.96B $116.28B $116.47B $116.47B $122.31B
Cash and Cash Equivalents $6.12B $5.65B $6.25B $6.25B $6.77B
Total Investments $96.04B $96.69B $97.52B $97.52B $101.81B
-Short Term Investments $65.67B $65.84B $64.15B $64.15B $69.66B
-Net Loan $9.56B $9.98B $9.77B $9.77B $10.35B
-Fixed Maturity Investments $15.50B $15.75B $16.09B $16.09B $16.92B
-Equity Investments $925.00M $851.00M $887.00M $887.00M $885.00M
-Long Term Equity Investment $4.35B $4.23B – – $3.96B
-Other Invested Assets $39.00M $37.00M $6.62B $6.62B $31.00M
Receivables $895.00M $947.00M $835.00M $835.00M $852.00M
-Accounts Receivable $895.00M $947.00M $835.00M $835.00M $852.00M
Accrued Investment Income $733.00M $695.00M $718.00M $718.00M $702.00M
Net PPE $1.20B $1.21B $351.00M $351.00M $1.31B
Deferred Policy Acquisition Costs $8.95B $8.98B $9.03B $9.03B $9.22B
Other Assets $2.03B $2.12B $1.77B $1.77B $1.65B
Total Liabilities $85.65B $86.32B $86.98B $86.98B $93.62B
Policy Holders Liabilities $64.35B $66.78B $69.58B $69.58B $74.74B
Payables $1.59B $1.75B $1.37B $1.37B $1.48B
-Total Tax Payable $1.59B $1.75B $1.37B $1.37B $1.48B
Long Term Debt and Capital Lease Obligation $8.73B $7.91B $8.41B $8.41B $8.69B
-Long Term Debt $8.64B $7.82B $8.33B $8.33B $8.60B
-Long Term Capital Lease Obligation $86.00M $86.00M $79.00M $79.00M $87.00M
Unrepurchased Pre-Sale Securities $7.34B $6.41B $3.99B $3.99B $5.43B
Other Liabilities $3.64B $3.46B $3.63B $3.63B $3.29B
Total Equity $30.31B $29.96B $29.49B $29.49B $28.69B
Stockholders' Equity $30.31B $29.96B $29.49B $29.49B $28.69B
Capital Stock $136.00M $136.00M $136.00M $136.00M $136.00M
-Common Stock $136.00M $136.00M $136.00M $136.00M $136.00M
Additional Paid-In Capital $3.11B $3.06B $3.02B $3.02B $2.98B
Retained Earnings $56.22B $55.70B $54.68B $54.68B $53.92B
Less: Treasury Stock $31.83B $30.84B $29.80B $29.80B $29.00B
Gains/Losses Not Affecting Retained Earnings $2.68B $1.90B $1.45B $1.45B $653.00M
Short-Term Debt and Capital Lease Obligation – – – – $0.00
-Current Debt – – – – $0.00

Cash flow

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Operating Cash Flow $112.00M $968.00M $2.56B $315.00M $1.25B
Net cash flow from continuing operations $77.00M $968.00M $2.56B $315.00M $1.26B
Net Income from Continuing Operations $825.00M $1.02B $3.65B $1.38B $1.64B
Gain/Loss from Continuing Operations -$83.00M -$216.00M $86.00M -$712.00M -$445.00M
Other Non-Cash Items -$242.00M -$616.00M -$82.00M $79.00M $168.00M
Change in Working Capital -$442.00M $713.00M -$1.16B -$491.00M -$158.00M
-Change in Receivables -$2.00M -$30.00M -$66.00M -$38.00M $20.00M
-Change in Loss and Loss Adjustment Expense Reserves -$88.00M $519.00M -$815.00M -$83.00M -$537.00M
-Change in Payables and Accrued Expense -$352.00M $224.00M -$278.00M -$370.00M $359.00M
Net cash flow from investing $791.00M $244.00M $1.56B $359.00M $28.00M
Net Cash Flow from Continuing Investing Activities $791.00M $244.00M $1.56B $359.00M $28.00M
Net Investment Purchase and Sale -$687.00M -$2.47B -$985.00M $1.32B $287.00M
Net Amount of Loans Acquired/Repaid $366.00M -$41.00M $683.00M $330.00M $77.00M
Net Other Investing Changes $1.11B $2.75B $1.86B -$1.29B -$336.00M
Financing Cash Flow -$442.00M -$1.76B -$4.07B -$1.18B -$1.46B
Net Cash Flow from Continuing Financing Activities -$442.00M -$1.76B -$4.07B -$1.18B -$1.46B
Net Issuance Payments of Debt $911.00M -$400.00M $955.00M $0.00 -$84.00M
Net Common Stock Issuance -$981.00M -$996.00M -$3.52B -$798.00M -$997.00M
Cash Dividends Paid -$299.00M -$304.00M -$1.20B -$292.00M -$299.00M
Net Other Financing Charges -$73.00M -$62.00M -$304.00M -$94.00M -$82.00M
Ending Cash Balance $6.12B $5.65B $6.25B $6.25B $6.77B
Net Change in Cash $461.00M -$550.00M $47.00M -$510.00M -$182.00M
Beginning Cash Balance $5.65B $6.25B $6.23B $6.77B $6.97B
Effect of Exchange Rate Changes $5.00M -$41.00M -$31.00M -$13.00M -$15.00M
Free Cash Flow $112.00M $968.00M $2.56B $315.00M $1.25B
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