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Financials · AFL

AFLAC Incorporated (AFL) financials

For the twelve months ended Sep 30, 2026, AFLAC Incorporated reported $16.60B of revenue and $3.53B of net income.

Revenue, TTM
$16.60B
Revenue growth, YoY
-6.2%
Net income, TTM
$3.53B
Net income growth, YoY
-15.4%
Net margin
21.2%
EPS, diluted, TTM
$6.80
EPS growth, YoY
-11.6%
Cash
$5.62B
P/E
17.64
P/S
3.75
Market cap
$62.20B
Annual revenue$17.16B
FY2016FY2025
Annual net income$3.65B
FY2016FY2025

AFL revenue and earnings growth

AFL revenueQ3 2026$3.27B

Quarter YoY
-31.0%
QoQ
-20.5%
FY YoY
-9.3%
5Y CAGR
-5.0%
10Y CAGR
-1.9%

AFL revenue was $3.27B in fiscal Q3 2026 (ended Sep 30, 2026), down 31.0% from a year earlier and down 20.5% from the prior quarter. For the full fiscal 2025 it was $17.16B, down 9.3% from fiscal 2024. Compound annual growth was -5.0% over 5 years and -1.9% over 10 years. It rose in 4 of the last 10 fiscal years.

AFL net incomeQ3 2026$303.00M

Quarter YoY
-81.5%
QoQ
-63.3%
FY YoY
-33.0%
5Y CAGR
-5.3%
10Y CAGR
+3.7%

AFL net income was $303.00M in fiscal Q3 2026 (ended Sep 30, 2026), down 81.5% from a year earlier and down 63.3% from the prior quarter. For the full fiscal 2025 it was $3.65B, down 33.0% from fiscal 2024. Compound annual growth was -5.3% over 5 years and +3.7% over 10 years. It rose in 7 of the last 10 fiscal years.

AFL EPSQ3 2026$0.61

Quarter YoY
-80.2%
QoQ
-62.6%
FY YoY
-29.2%
5Y CAGR
+0.4%
10Y CAGR
+8.8%

AFL diluted EPS was $0.61 in fiscal Q3 2026 (ended Sep 30, 2026), down 80.2% from a year earlier and down 62.6% from the prior quarter. For the full fiscal 2025 it was $6.82, down 29.2% from fiscal 2024. Compound annual growth was +0.4% over 5 years and +8.8% over 10 years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$17.16B$18.93B$18.70B$19.14B$21.55B$22.15B$22.31B$21.76B$21.67B$22.56B
Selling, general and admin$3.25B$3.01B$3.17B$3.25B$3.54B$3.42B$3.09B$2.99B$2.78B$2.80B
Operating income---$4.16B$4.93B$4.42B$4.46B$4.35B$4.09B$4.12B
Interest expense--$195.00M$226.00M$238.00M$242.00M$228.00M$222.00M$240.00M$268.00M
Pre-tax income$4.53B$6.42B$5.26B$4.87B$5.21B$4.16B$4.45B$3.98B$4.02B$4.07B
Income tax$887.00M$974.00M$603.00M$451.00M$977.00M-$619.00M$1.14B$1.06B-$586.00M$1.41B
Net income$3.65B$5.44B$4.66B$4.42B$4.23B$4.78B$3.30B$2.92B$4.60B$2.66B
EPS, basic$6.84$9.68$7.81$6.96$6.28$6.69$4.45$3.79$5.81$3.23
EPS, diluted$6.82$9.63$7.78$6.93$6.25$6.67$4.43$3.77$5.77$3.21
Diluted shares534.9M565.0M598.7M637.7M676.7M716.2M746.4M774.6M797.9M827.8M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$6.25B$6.23B$4.31B$3.94B$5.05B$5.14B$4.90B$4.34B$3.49B$4.86B
Goodwill$260.00M$263.00M$265.00M$265.00M$268.00M$269.00M$140.00M---
Total assets$116.47B$117.57B$126.72B$131.74B$157.54B$165.09B$152.77B$140.41B$137.22B$129.82B
Total debt$8.33B$7.40B$7.24B$7.29B$7.84B$7.75B$6.41B$5.76B$5.27B$5.34B
Total liabilities$86.98B$91.47B$104.74B$111.60B$124.29B$131.53B$123.81B$116.94B$112.62B$109.34B
Shareholders' equity$29.49B$26.10B$21.98B$20.14B$17.03B$33.56B$28.96B$23.46B$24.60B$20.48B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$2.56B$2.71B$3.19B$3.88B$5.05B$5.96B$5.46B$6.01B$6.13B$5.99B
Investing cash flow$1.56B$2.78B$817.00M-$1.54B-$2.38B-$4.62B-$3.17B-$3.58B-$5.43B-$3.85B
Financing cash flow-$4.07B-$3.49B-$3.72B-$3.55B-$2.74B-$1.11B-$1.71B-$1.62B-$2.06B-$1.62B
Dividends paid$1.20B$1.09B$966.00M$979.00M$855.00M$769.00M$771.00M$793.00M$661.00M$658.00M
Share repurchases$3.53B$2.80B$2.80B$2.40B$2.30B$1.54B$1.63B$1.30B$1.35B$1.42B
Depreciation and amortization$36.00M$40.00M$39.00M$45.00M$45.00M$41.00M$41.00M$49.00M$53.00M$54.00M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY-9.3%1.2%-2.3%-11.2%-2.7%-0.7%2.5%0.4%-4.0%8.1%
Net income growth, YoY-33.0%16.8%5.5%4.4%-11.4%44.6%13.2%-36.6%73.1%5.0%
EPS growth, YoY-29.2%23.8%12.3%10.9%-6.3%50.6%17.5%-34.7%79.8%9.7%
Operating margin---21.7%22.9%19.9%20.0%20.0%18.9%18.2%
Net margin21.2%28.8%24.9%23.1%19.6%21.6%14.8%13.4%21.2%11.8%
Return on equity12.4%20.9%21.2%21.9%24.8%14.2%11.4%12.4%18.7%13.0%
Return on assets3.1%4.6%3.7%3.4%2.7%2.9%2.2%2.1%3.4%2.0%
Debt to equity0.280.280.330.360.460.230.220.250.210.26

Source: XBRL data AFLAC Incorporated files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 2-for-1, first reported May 4, 2018.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

AFL peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
AFL$16.60B-6.2%$3.53B21.2%$62.20B
MET$82.56B+14.8%$5.13B6.2%$62.45B
HUM$154.19B+22.0%$1.25B0.8%$52.08B
UNM$12.52B-4.2%$243.30M1.9%$11.89B

AFL FAQ

7 questions
  • What is AFL revenue?
    AFLAC Incorporated (AFL) reported $16.60B of revenue for the twelve months ended Sep 30, 2026. That is down 6.2% from the year before. Revenue for fiscal 2025 was $17.16B.
  • Is AFL profitable?
    Yes. AFLAC Incorporated earned $3.53B in net income for the twelve months ended Sep 30, 2026, a net margin of 21.2%.
  • How much cash and debt does AFL have?
    AFLAC Incorporated reported $5.62B in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is AFL revenue growing?
    AFLAC Incorporated's revenue changed -9.3% in fiscal 2025, to $17.16B. Its compound annual growth rate was -5.0% over 5 years and -1.9% over 10 years.
  • What is AFL earnings per share?
    Diluted earnings per share were $6.80 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did AFL last report financial results?
    The latest statements here come from AFLAC Incorporated's 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this AFL financial data come from?
    Quantisnow builds these statements from the structured XBRL data AFLAC Incorporated files with the SEC. It is provided for information only and is not investment advice.