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
Premiums & Annuity Revenue	13,548	13,440	14,123	14,901	17,095
Total Interest & Dividend Income	4,076	4,116	3,811	3,656	3,818
Gain (Loss) on Sale of Investments	-572	1,271	590	363	468
Other Revenue	112	100	177	220	173
Total Revenue	17,164	18,927	18,701	19,140	21,554
Revenue Growth (YoY)	-9.31%	1.21%	-2.29%	-11.20%	-2.68%
Policy Benefits	7,293	7,450	8,211	8,887	10,476
Policy Acquisition & Underwriting Costs	1,865	1,849	1,868	1,909	2,091
Selling, General & Administrative	3,253	3,014	3,165	3,249	3,541
Total Operating Expenses	12,411	12,313	13,244	14,045	16,108
Operating Income	4,753	6,614	5,457	5,095	5,446
Interest Expense	-220	-197	-195	-226	-238
Pretax Income	4,533	6,417	5,262	4,869	5,208
Income Tax Expense	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%
Dividend 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%	34.95%	29.18%	26.62%	25.27%
Profit Margin	21.24%	28.76%	24.91%	23.08%	19.63%
EBITDA	4,781	6,654	5,496	5,140	5,491
EBITDA Margin	27.86%	35.16%	29.39%	26.86%	25.48%
D&A For EBITDA	28	40	39	45	45
EBIT	4,753	6,614	5,457	5,095	5,446
EBIT Margin	27.69%	34.95%	29.18%	26.62%	25.27%
Effective Tax Rate	19.57%	15.18%	11.46%	9.26%	18.76%
Revenue as Reported	17,164	18,927	18,701	19,140	21,554

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q