Fundamental analysis · SEC EDGAR · TTM through 31/03/2026

Fundamental analysis of Aflac Inc

AFL · NYSE · Financial

Fundamental quality

REASONABLE

62

out of 100

Aflac Inc is a mature, stable business: it earns money solidly (net margin 25.6%) but grows slowly (-3.8% a year). On fundamental quality it scores 62 out of 100, profiling it as a company of reasonable quality. Its weakest area is its growth (revenue -3.8%/yr). Whether it's cheap or expensive depends on the current price, which you can compute in the tool.

What the company does

Aflac sells supplemental insurance: policies that pay cash directly to the insured for cancer or accidents, covering what health insurance doesn't. Its quirk: most of its business is in Japan, where its advertising duck is a celebrity.

What will shape its future

  • Japan: aging demographics, mature sales and the yen-dollar exchange rate moving its results.
  • Underwriting discipline, giving it high margins and decades of dividend growth.
  • The US distribution channel, its pending growth subject.

Breakdown by area

I.Growth
31

EPS growth: 5.3% · Revenue growth: -3.8%

II.Profitability
85

Net margin: 25.6% · ROE: 15.5%

Source: SEC EDGAR · TTM through 31/03/2026

The score includes +4 for dividend strength: 42 consecutive years of increases. Keeping that streak demands growing cash generation and balance-sheet discipline.

The score combines growth, profitability and financial strength. Here its profitability weighs in its favor, while its growth drags it down the most.

Versus its sector

Percentile against the other 71 Financial companies in our coverage: how far it beats them on each metric (100 = best in sector).

Net marginbeats 75%
ROEbeats 54%
Growthbeats 1%

Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.

Key concepts

What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow

Aflac Inc strengths

  • Exceptional net margin (25.6%): the business is clearly profitable.
  • It has cut its net debt over the period.

Aflac Inc risks and weaknesses

  • Declining revenue (-3.8% annualized).

Aflac Inc historical evolution

YearRevenueNet incomeFree cash flowNet debt
202022,1474,7782,758
202121,5544,2312,905
202219,1404,4183,499
202318,7014,6593,058
202418,9275,4431,269
202517,1643,6462,164

Between 2020 and 2025, revenue went from $22,147M to $17,164M (-22%) and net income went from $4,778M to $3,646M (-24%). It has also reduced its net debt over the period.

Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.

Latest results

Versus the same period a year earlier

Figures for the quarter ended March 31, 2026, versus the quarter ended March 31, 2025 (SEC filings):

  • Revenue+27.9%
  • Net income+3,413.8%

Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.

Dividend

$2.35

per share, yearly

32.9% of earnings

Payout

42 straight years raising it

Growth

The dividend yield depends on today's price. Compute it in the analyzer → · See all dividend-paying stocks →

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Is Aflac Inc cheap or expensive?

That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).

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Frequently asked questions

Is Aflac Inc a good company to invest in?

In terms of business quality, Aflac Inc scores 62 out of 100 in our analysis, placing it as a company of reasonable quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.

Is Aflac Inc a profitable company?

Very. Aflac Inc shows a net margin of 25.6% and an ROE of 15.5%, typical of a highly profitable business.

Is Aflac Inc growing?

Its revenue has fallen 3.8% annualized in recent years.

The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.

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