What is Aflac Inc's earnings per share (EPS)?

Aflac Inc (AFL) reported diluted earnings per share of $6.82 for fiscal year 2025. This represents a -29.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Aflac Inc Financials

AFL

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Aflac Inc (AFL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Weak

3/9

Aflac Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

0.70x

For every $1 of reported earnings, Aflac Inc generates $0.70 in operating cash flow ($2.6B OCF vs $3.6B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$17.2B

YoY-9.3%

5Y CAGR-5.0%

10Y CAGR-1.9%

Aflac Inc generated $17.2B in revenue in fiscal year 2025. This represents a decrease of 9.3% from the prior year.

EBITDA

N/A

Net Income

$3.6B

YoY-33.0%

5Y CAGR-5.3%

10Y CAGR+3.7%

Aflac Inc reported $3.6B in net income in fiscal year 2025. This represents a decrease of 33.0% from the prior year.

EPS (Diluted)

$6.82

YoY-29.2%

5Y CAGR+0.4%

10Y CAGR+1.5%

Aflac Inc earned $6.82 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 29.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$6.2B

YoY+0.3%

5Y CAGR+4.0%

10Y CAGR+3.7%

Aflac Inc held $6.2B in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$2.35

YoY+13.0%

5Y CAGR+16.0%

Aflac Inc paid $2.35 per share in dividends in fiscal year 2025. This represents an increase of 13.0% from the prior year.

Shares Outstanding

519M

YoY-5.7%

5Y CAGR-5.6%

10Y CAGR+2.0%

Aflac Inc had 519M shares outstanding in fiscal year 2025. This represents a decrease of 5.7% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

21.2%

YoY-7.5pp

5Y CAGR-0.3pp

10Y CAGR+9.1pp

Aflac Inc's net profit margin was 21.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 7.5 percentage points from the prior year.

Return on Equity

12.4%

YoY-8.5pp

5Y CAGR-1.9pp

10Y CAGR-1.9pp

Aflac Inc's ROE was 12.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 8.5 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$3.5B

YoY+26.1%

5Y CAGR+18.1%

10Y CAGR+10.4%

Aflac Inc spent $3.5B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 26.1% from the prior year.

Capital Expenditures

N/A

AFL Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$17.2B-9.3%	$18.9B+1.2%	$18.7B-2.3%	$19.1B-11.2%	$21.6B-2.7%	$22.1B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$3.3B+7.9%	$3.0B-4.8%	$3.2B-2.6%	$3.2B-8.2%	$3.5B+3.5%	$3.4B
Operating Income	N/A	N/A	N/A	$4.2B-15.7%	$4.9B+11.7%	$4.4B
Interest Expense	$217.0M+11.9%	$194.0M-0.5%	$195.0M-13.7%	$226.0M-5.0%	$238.0M-1.7%	$242.0M
Income Tax	$887.0M-8.9%	$974.0M+61.5%	$603.0M+33.7%	$451.0M-53.8%	$977.0M+257.8%	-$619.0M
Net Income	$3.6B-33.0%	$5.4B+16.8%	$4.7B+5.5%	$4.4B+4.4%	$4.2B-11.4%	$4.8B
EPS (Diluted)	$6.82-29.2%	$9.63+23.8%	$7.78+12.3%	$6.93+10.9%	$6.25-6.3%	$6.67

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$4.9B+2.7%	$4.7B+13.9%	$4.2B+22.4%	$3.4B-37.1%	$5.4B+83.2%	$2.9B-42.6%	$5.1B-5.5%	$5.4B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$866.0M+10.9%	$781.0M-2.9%	$804.0M+0.2%	$802.0M-3.8%	$834.0M+11.6%	$747.0M+7.6%	$694.0M-6.1%	$739.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$61.0M+8.9%	$56.0M+9.8%	$51.0M+4.1%	$49.0M+2.1%	$48.0M-2.0%	$49.0M-2.0%	$50.0M+6.4%	$47.0M
Income Tax	$193.0M-45.6%	$355.0M+59.2%	$223.0M+92.2%	$116.0M-50.4%	$234.0M+26.5%	$185.0M-29.9%	$264.0M-9.3%	$291.0M
Net Income	$1.4B-15.9%	$1.6B+173.6%	$599.0M+1965.5%	$29.0M-98.5%	$1.9B+2145.2%	-$93.0M-105.3%	$1.8B-6.6%	$1.9B
EPS (Diluted)	N/A	$3.08+177.5%	$1.11+2120.0%	$0.05	N/A	$-0.17-105.5%	$3.10-4.6%	$3.25

AFL Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$116.5B-0.9%	$117.6B-7.2%	$126.7B-3.8%	$131.7B-16.4%	$157.5B-4.6%	$165.1B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$6.2B+0.3%	$6.2B+44.7%	$4.3B+9.2%	$3.9B-21.9%	$5.1B-1.8%	$5.1B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$260.0M-1.1%	$263.0M-0.8%	$265.0M0.0%	$265.0M-1.1%	$268.0M-0.4%	$269.0M
Total Liabilities	$87.0B-4.9%	$91.5B-12.7%	$104.7B-6.1%	$111.6B-10.2%	$124.3B-5.5%	$131.5B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$29.5B+13.0%	$26.1B+18.7%	$22.0B+9.2%	$20.1B+18.3%	$17.0B-49.3%	$33.6B
Retained Earnings	$54.7B+4.6%	$52.3B+8.9%	$48.0B+8.2%	$44.4B+7.2%	$41.4B+8.9%	$38.0B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$116.5B-4.8%	$122.3B-1.9%	$124.7B+3.7%	$120.3B+2.3%	$117.6B-8.5%	$128.4B+6.9%	$120.2B-3.7%	$124.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$6.2B-7.7%	$6.8B-2.8%	$7.0B+33.1%	$5.2B-16.0%	$6.2B+11.0%	$5.6B-7.4%	$6.1B+18.9%	$5.1B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$260.0M	N/A	N/A	N/A	$263.0M	N/A	N/A	N/A
Total Liabilities	$87.0B-7.1%	$93.6B-4.0%	$97.5B+3.9%	$93.9B+2.7%	$91.5B-11.7%	$103.6B+10.1%	$94.1B-7.0%	$101.2B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$29.5B+2.8%	$28.7B+5.5%	$27.2B+3.3%	$26.3B+0.9%	$26.1B+5.1%	$24.8B-4.7%	$26.0B+10.7%	$23.5B
Retained Earnings	$54.7B+1.4%	$53.9B+2.5%	$52.6B+0.5%	$52.3B+0.1%	$52.3B+2.6%	$51.0B-0.7%	$51.3B+3.0%	$49.9B

AFL Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$2.6B-5.6%	$2.7B-15.1%	$3.2B-17.8%	$3.9B-23.2%	$5.1B-15.2%	$6.0B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$1.6B-43.9%	$2.8B+240.4%	$817.0M+153.1%	-$1.5B+35.2%	-$2.4B+48.5%	-$4.6B
Financing Cash Flow	-$4.1B-16.7%	-$3.5B+6.4%	-$3.7B-4.8%	-$3.6B-29.6%	-$2.7B-145.7%	-$1.1B
Dividends Paid	$1.2B+10.2%	$1.1B+12.5%	$966.0M-1.3%	$979.0M+14.5%	$855.0M+11.2%	$769.0M
Share Buybacks	$3.5B+26.1%	$2.8B0.0%	$2.8B+16.7%	$2.4B+4.3%	$2.3B+49.7%	$1.5B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$315.0M-74.8%	$1.3B+213.8%	$399.0M-32.3%	$589.0M+76.9%	$333.0M-73.8%	$1.3B+398.0%	$255.0M-70.0%	$849.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$359.0M+1182.1%	$28.0M-98.2%	$1.5B+527.0%	-$359.0M-123.7%	$1.5B+247.3%	-$1.0B-149.8%	$2.1B+810.6%	$227.0M
Financing Cash Flow	-$1.2B+19.0%	-$1.5B-802.5%	-$162.0M+87.2%	-$1.3B-16.3%	-$1.1B-31.2%	-$826.0M+37.4%	-$1.3B-415.6%	-$256.0M
Dividends Paid	$292.0M-2.3%	$299.0M-0.7%	$301.0M-1.6%	$306.0M+14.6%	$267.0M-1.1%	$270.0M-0.7%	$272.0M-2.2%	$278.0M
Share Buybacks	$801.0M-19.9%	$1.0B+20.6%	$829.0M-7.9%	$900.0M+20.0%	$750.0M+50.0%	$500.0M-37.5%	$800.0M+6.7%	$750.0M

AFL Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	21.7%-1.2pp	22.9%+2.9pp	19.9%
Net Margin	21.2%-7.5pp	28.8%+3.9pp	24.9%+1.8pp	23.1%+3.5pp	19.6%-1.9pp	21.6%
Return on Equity	12.4%-8.5pp	20.9%-0.3pp	21.2%-0.8pp	21.9%-2.9pp	24.8%+10.6pp	14.2%
Return on Assets	3.1%-1.5pp	4.6%+1.0pp	3.7%+0.3pp	3.4%+0.7pp	2.7%-0.2pp	2.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.95-0.6	3.50-1.3	4.76-0.8	5.54-1.8	7.30+3.4	3.92
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	28.3%-6.2pp	34.6%+20.2pp	14.4%+13.5pp	0.9%-34.3pp	35.2%+38.3pp	-3.1%-37.3pp	34.2%-0.4pp	34.6%
Return on Equity	4.7%-1.0pp	5.7%+3.5pp	2.2%+2.1pp	0.1%-7.2pp	7.3%+7.7pp	-0.4%-7.1pp	6.7%-1.2pp	8.0%
Return on Assets	1.2%-0.2pp	1.3%+0.9pp	0.5%+0.5pp	0.0%-1.6pp	1.6%+1.7pp	-0.1%-1.5pp	1.5%-0.1pp	1.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.95-0.3	3.26-0.3	3.59+0.0	3.57+0.1	3.50-0.7	4.17+0.6	3.61-0.7	4.30
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Aflac Inc's annual revenue?

Aflac Inc (AFL) reported $17.2B in total revenue for fiscal year 2025. This represents a -9.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Aflac Inc's revenue growing?

Aflac Inc (AFL) revenue declined by 9.3% year-over-year, from $18.9B to $17.2B in fiscal year 2025.

Is Aflac Inc profitable?

Yes, Aflac Inc (AFL) reported a net income of $3.6B in fiscal year 2025, with a net profit margin of 21.2%.

What is Aflac Inc's net profit margin?

Aflac Inc (AFL) had a net profit margin of 21.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Aflac Inc pay dividends?

Yes, Aflac Inc (AFL) paid $2.35 per share in dividends during fiscal year 2025.

What is Aflac Inc's return on equity (ROE)?

Aflac Inc (AFL) has a return on equity of 12.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Aflac Inc's operating cash flow?

Aflac Inc (AFL) generated $2.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Aflac Inc's total assets?

Aflac Inc (AFL) had $116.5B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Aflac Inc buy back shares?

Yes, Aflac Inc (AFL) spent $3.5B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Aflac Inc have outstanding?

Aflac Inc (AFL) had 519M shares outstanding as of fiscal year 2025.

What is Aflac Inc's debt-to-equity ratio?

Aflac Inc (AFL) had a debt-to-equity ratio of 2.95 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Aflac Inc's return on assets (ROA)?

Aflac Inc (AFL) had a return on assets of 3.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Aflac Inc's Piotroski F-Score?

Aflac Inc (AFL) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Aflac Inc's earnings high quality?

Aflac Inc (AFL) has an earnings quality ratio of 0.70x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.