Aflac Incorporated (AFL)

Aflac Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Premiums Earned	13,548	13,440	14,123	14,901	17,095
Investment Income	4,076	4,116	3,811	3,656	3,818
Net Gains on Investments	-572	1,271	590	363	468
Total Other Revenues	112	100	177	220	173
Revenue	17,164	18,927	18,701	19,140	21,554
Revenue Growth (YoY)	-9.31%	1.21%	-2.29%	-11.20%	-2.68%
Insurance Benefits & Claims	7,293	7,450	8,211	8,887	10,476
Policy Amortization Costs	874	851	816	792	835
Other Operating Expenses	4,244	4,012	4,217	4,366	4,797
Operating Income	4,753	6,614	5,457	5,095	5,446
Interest Expense	-220	-197	-195	-226	-238
Total Non-Operating Income (Expense)	-220	-197	-195	-226	-238
Pretax Income	4,533	6,417	5,262	4,869	5,208
Provision for Income Taxes	887	974	603	451	977
Net Income	3,646	5,443	4,659	4,418	4,231
Net Income to Common	3,646	5,443	4,659	4,418	4,231
Net Income Growth	-33.02%	16.83%	5.46%	4.42%	-11.45%
Shares Outstanding (Basic)	533	562	596	635	674
Shares Outstanding (Diluted)	535	565	599	638	677
Shares Change (YoY)	-5.33%	-5.63%	-6.10%	-5.77%	-5.51%
EPS (Basic)	6.84	9.68	7.81	6.96	6.28
EPS (Diluted)	6.82	9.63	7.78	6.93	6.25
EPS Growth	-29.18%	23.78%	12.27%	10.88%	-6.30%
Free Cash Flow	2,555	2,707	3,190	3,879	5,051
Free Cash Flow Growth	-5.62%	-15.14%	-17.76%	-23.20%	-15.22%
Free Cash Flow Per Share	4.78	4.79	5.33	6.08	7.46
Dividends Per Share	2.320	2.000	1.680	1.600	1.320
Dividend Growth	16.00%	19.05%	5.00%	21.21%	17.86%
Operating Margin	27.69%	34.94%	29.18%	26.62%	25.27%
Profit Margin	21.24%	28.76%	24.91%	23.08%	19.63%
FCF Margin	14.89%	14.30%	17.06%	20.27%	23.43%
EBITDA	4,753	6,614	5,457	5,095	5,446
EBIT	4,753	6,614	5,457	5,095	5,446
EBIT Margin	27.69%	34.94%	29.18%	26.62%	25.27%
Effective Tax Rate	19.57%	15.18%	11.46%	9.26%	18.76%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q